Courtesy Pay Policy

Description of Service


Overdraft Privilege is a discretionary service provided to eligible accounts. It is designed to help guard members against having items returned or declined. At its discretion, Trona Valley Federal Credit Union may provide members with specific Overdraft Privilege limit depending on the type of account.

  • Standard overdraft practices will pay overdrafts on checks and other transactions made using your checking account number and 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

Eligibility


For new accounts, members will receive a $100.00 Introductory Overdraft Privilege limit that will be increased to $500.00 after 35 days for consumers and 60 days for businesses after account opening.


The consumer checking accounts are Senior Checking, Hometown Heroes Checking, High Yield Checking, Cash Back Checking, and Select Checking.


The business checking accounts are Non Profit Checking, Business Checking and Business Dividend Checking. *Businesses with Sweep Accounts will not have Overdraft Privilege.


The following will be excluded from the Overdraft Privilege Program:

  • Members who have loans past due more than 30 days with Trona Valley Federal Credit Union
  • Members who have Charge-Off accounts with us
  • Consumer accounts open less than 35 days (for full limit)
  • Business accounts open less than 60 days (for full limit)
  • Accounts with no deposits in the previous 35 days
  • Accounts with Levies, Garnishments or Bankruptcies
  • Dormant and Inactive Accounts
  • Minor Accounts
  • Trust and IOLTA Accounts

Whether your overdrafts will be paid or not is at our sole discretion and we reserve the right not to pay. We reserve the right to require you to repay your overdrafts immediately or on demand.


Fees


Your account will be charged an Overdraft Privilege fee of $30.00 (same fee as non-sufficient fund) per item presented and paid by the Credit Union. More than one Overdraft Privilege fee may be charged against your account per day, not to exceed the cumulative Overdraft Privilege limit assigned to your account based on parameters set forth by the Credit Union. The amount of any overdraft, plus our Overdraft Privilege fee, shall be due and payable within thirty-two (32) days of the account becoming overdrawn or the Overdraft Privilege limit will be reduced and the account will be referred to Collections. If the account is not brought to a zero or positive balance within forty-five (45) days, the account will be closed, Charged-Off, and reported to ChexSystems.


Notices


Overdraft Privilege is non-contractual. It requires no action on behalf of the member. There is no cost unless the service/privilege is used by initiating a check, electronic funds transfer or other payment or withdrawal request for more than what is on deposit in the account. TVFCU may, at its sole discretion, pay item(s) up to the authorized limit and will charge the member the Overdraft Privilege service fee for each item that overdraws the account. If the conditions of this service are not met or this privilege is abused, we may withhold or terminate the Overdraft Privilege service privilege without notification.


Revoke your Authorization


Although you are not charged for using Overdraft Privilege unless you have an overdraft, you may revoke your authorization for Trona Valley Federal Credit Union to pay these overdrafts by calling (307) 875-9800, coming by a branch, or by mailing a revocation of consent to 840 Hitching Post Dr., Green River, WY 82935. Your revocation must include both your name and your account number so that we can properly identify your account.