We all make mistakes.
With our Overdraft Privilege / Courtesy Pay Program, qualified* members can save money and avoid the embarrassment of returned checks, declined debit card purchases, and electronic funds transfers. This program offers:
- Protection from merchant returned check charges
- Protection from late fees associated with late payments on monthly bills
- Protection of your good credit and name
Opt-in or Opt-out and Overdraft Privilege Program
What You Need to Know about Overdrafts and Overdraft Fees:
- MCECU may modify the content of this Notice to indicate that as a member, you have the right to opt into, or opt out of, the payment of overdrafts under MCECU overdraft service for other types of transactions, such as checks or ACH transactions; to provide a means for the member to exercise this choice; and to disclose the associated returned item fee and that additional merchant fees may MCECU further discloses to you, as a member, that you have the right to revoke consent.1
Standard overdraft privileges 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 do not authorize and pay overdrafts for the following types of transactions unless you ask us to (See below):
- 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. MCECU reserves the right to review any request for overdraft reversal charge and to require payment of overdrafts on demand.
If we DO NOT authorize and pay an overdraft, your transaction will be declined, and a $25.00 non-sufficient fund fee (NSF) will be charged to your account.
Fees I will be charged if MCECU pays my overdraft:
- We will charge you a fee of $25.00 each time we pay an overdraft.
- There is no limit on the total fees we can charge you for overdrawing your account.
I want MCECU to authorize and pay overdrafts:
If you want MCECU to authorize and pay overdrafts on ATM and everyday debit card transactions, then you would OPT-IN, which means that you may overdraw your account using your debit card and you are willing to accept any penalties or fees associated with those transactions. I/member will call MCECU at 1-877-825-3180 or 901-321-1200, will go to memphiscu.org, or will complete this form and present it at a branch or remit by mail for processing to Memphis City Employees Credit Union, 2608 Avery Ave, Memphis, TN 38112.
The overdraft maximum is $ 600.00, including overdraft fee of $25.00 for each transaction.
1 You may revoke your authorization at any time by calling MCECU at 1-877-825-3180 or 901-321-1200. Ask a Member Service Representative for more information.