SLFCU News

Tuesday, July 6, 2010

Avoid Debit Card Disruptions!! Opt In TODAY!!

Effective July 1, 2010, for new accounts and prior to August 15, 2010, for existing accounts, federal regulations require members who are eligible for Courtesy Pay to opt-in to the program in order to be covered even if they have been covered in the past.

What does Courtesy Pay cover?

Courtesy Pay covers your everyday debit card transactions and ATM withdrawals even if you have insufficient funds in your account. Courtesy Pay allows you to complete your transaction and purchase items that you need such as groceries or gas when you may have insufficient funds in your account. Courtesy Pay is available when you need it the most when emergency situations arise and you do not have sufficient money in your account.

How much does Courtesy Pay cost?

If you overdraw your account through an everyday debit card transaction or ATM withdrawal, St. Lawrence Federal Credit Union will charge you a $20 fee to authorize the transaction. This fee will be assessed each time you use your debit card or make a withdrawal from an ATM until you have sufficient funds in your account to cover the transaction. We only charge a fee when you utilize Courtesy Pay services. It is free to opt-in for this service, and the service is free even if you never use it.

Please tell us if you want to keep this convenient coverage on your account for everyday debit card transactions and ATM withdrawals. If you do not opt-in to Courtesy Pay and there are insufficient funds to cover a transaction when you need it, St. Lawrence Federal Credit Union will not authorize the transaction.

If you choose to opt-in to Courtesy Pay, these transactions will continue to be covered.

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions after August 15, 2010:

• Call us @ 315.393.3530; or

• email:  kbell@stlawrfcu.com; or 

• Complete the consent form located in the "Documents & Forms" tab and return it to any one of our branches

• Call us @ 315.393.3530; or

• email:  kbell@stlawrfcu.com; or 

• Complete the consent form located in the "Documents & Forms" tab and return it to any one of our branches

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