North Alabama Educators Credit Union

If you are currently participating in Overdraft Privilege (Courtesy Pay), please review the following information as additional access is now available through ATM's or everyday debit card transactions with your VISA Debit Card. Regulation E requires a member's consent to allow these type of transactions in conjunction with Overdraft Privilege. The "Opt-In" form and Overdraft Privilege Disclosure are available for your review. All existing overdraft sources such as a savings account and/or overdraft loan would be utilized before a transaction would be approved with Overdraft Privilege.

Overdraft Privilege costs nothing if never used. With VISA Debit Cards, completing the opt-in form could prevent embarrassment from a declined transaction or provide needed funds in an emergency situation. Members can opt-in for ATM transactions and everyday debit card transactions using the form on this page or by calling 256-534-2423 to request the access on your account. Members can also opt-out at any time.

What You Need To Know about Overdrafts and Overdraft Fees

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway.  We can cover your overdrafts in two different ways:

1. We have standard overdraft practices that come with your account.
2. We also offer overdraft protection plans, such as a link to another account or a line of credit, which may be less expensive than our standard overdraft practices.  To learn more, ask us about these plans.

This notice explains our standard overdraft practices.

Ø  What are the standard overdraft practices that come with my account?

We do authorize and pay overdrafts for the following types of transactions:

·         Checks and other transactions made using your checking account number

·         Automatic bill payments

We will not authorize and pay overdrafts for the following types of transactions without your consent.

·         ATM transactions

·         Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

Ø  What fees will I be charged if North Alabama Educators Credit Union pays my overdraft?

Under our standard overdraft practices:

·         We will charge you a fee of up to $25.00 each time we pay an overdraft

·         There is a limit of $100.00 per day on the total fees we can charge you for overdrawing your account

Ø  What if I want North Alabama Educators Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call 256-534-2423, visit our website at http://www.naecu.org/, or complete the form below and present it at a branch or mail it to: North Alabama Educators Credit Union, P. O. Box 128, Huntsville, AL  35804.

______      I want North Alabama Educators Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions.

Printed Name:        _______________________________________________

Date:                      _______________________________________________

Account Number:  _______________________________________________