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Courtesy Pay for Everyday Debit Card and ATM Card Transaction(s) Opt In/Opt Out Information

Contact Mil-Way Member Service for Opt In/Opt Out Form at  870-772-0661

It is the policy of Mil-Way Federal Credit Union to comply with all applicable laws and regulations and to conduct business in accordance with applicable safety and soundness standards.

The maximum amount of the Courtesy Pay privilege will generally be limited to $300.00 per member.  Any and all credit union fees and charges, including without limitation the non-sufficient fund fees and courtesy pay fees, will be included in this limit.  Mil-Way FCU reserves the right to pay or return any item for any amount presented against insufficient funds even though it may have previously paid items into an overdraft status.

Transactions may not be processed in the order in which they occurred.  Funds from an existing overdraft transfer arrangement out of a savings account or share draft account will be used first.  Courtesy Pay may be activated only after those funds are exhausted.

Eligibility: Courtesy Pay may be available to share draft accounts that have been opened for one hundred and eighty (180) days and when:

* The member is making regular deposits consistent with past practices;
* The account has deposits equal to the amount of Courtesy Pay extended to the member or more within each thirty (30) day period bringing the account balance to a positive balance;
* The member whose name that is first on the account is at least 18 years old;
* No member on the account has caused a loss to Mil-Way FCU;
* No member on the account is in default on any loan or other obligation to Mil-Way FCU;
* The account and/or member is not subject to any legal/administrative order or levy;
* The account has a good mailing address and valid phone number.

Responsibility: If Mil-Way FCU pays an overdraft on an account with more than one (1) owner on the signature card, all owners drawing/presenting the item (thereby creating the overdraft), are jointly and severally liable for such overdrafts plus applicable fees.  Collection steps will be taken on accounts whose negative balance exceeds thirty (30) calendar days.

Account Fees: Whether a non-sufficient funds (NSF) item is returned or paid, a per item fee of $20.00, will be charged to the member’s account as, respectively, either a non-sufficient funds (NSF) fee or a Courtesy Pay fee.

Limitations: Courtesy Pay is limited to share draft accounts. Mil-Way FCU may limit the number of accounts eligible for Courtesy Pay to one per household.  Courtesy Pay may not be used to make any loan payments or to bring another account to a positive balance. Courtesy Pay does not apply to drafts presented at Mil-Way FCU teller windows. Members will have access to the Courtesy Pay limit by using an ATM or Debit Card when choosing to Opt In. Mil-Way will not extend beyond a maximum of 30% of retained earnings in Courtesy Pay privileges at any one time.

Courtesy Pay Disclaimer: Mil-Way FCU Courtesy Pay is non-contractual and discretionary.  It is not Mil-Way FCU’s obligation and Mil-Way FCU may refuse to provide the service on any share draft account at any time, and from time to time, as deemed appropriate.  The member does not have a contractual right to overdraft his/her account using Courtesy Pay, nor is it guaranteed by the Courtesy Pay plan.