What are the overdraft fees?

CUTX understands life happens. If you happen to overdraft your account and have Overdraft Protection set up to transfer funds from your savings or line of credit, and you have a Simple or Secure Checking account, you will only be assessed a $5.00 fee. If you have a Secure Plus or Mature Options Checking account and Overdraft from your savings or line of credit, you will only be assessed a $1.00 fee.

However, if you do not have funds available in other CUTX accounts, the Credit Union will still pay the check if you have opted in for Privilege Pay. Privilege Pay usage is assessed a $35.00 fee per transaction.

*Limits apply to Privilege Pay1.

You can also view our current fee schedule.

1. Overdraft Privilege Pay. This is an optional service on eligible Checking Accounts for each membership. This service allows us to pay, at our discretion, any withdrawal order item (whether by check, electronic funds transfer, including ATM and everyday (one-time) debit card transactions and Automated Clearing House (ACH) preauthorized transactions) if you do not have enough available funds to cover the item(s) in your Checking Account. However, if you would like to include overdrafts for ATM and everyday (one-time) debit card transactions, you are required to “opt-in” (in other words, you must provide us with your affirmative consent) to the overdraft service. If we pay overdraft items for you, we will charge your Account an overdraft fee for each overdraft, as set forth in the Truth-In-Savings Fee Schedule. The total amount of the overdraft item(s) and all applicable fees, including but not limited to the overdraft fees, are included in the Overdraft Privilege Pay limit. Items are processed in the order in which they are received by the Credit Union, which can affect the total amount of Overdraft Privilege Pay and overdraft fees you incur. Any deposits made to your overdrawn Account are applied to the negative balance, including any amount you owe for the use of the Overdraft Privilege Pay service and all applicable fees. With Overdraft Privilege Pay we will generally pay your overdraft items up to a total of $800.00; however, whether your overdrafts are paid is discretionary and we reserve the right not to pay an overdraft on your Checking Account. For example, we typically do not pay overdrafts if your Account is not in good standing, or you are not making regular deposits, or you have too many overdrafts. Eligibility is at the sole discretion of the Credit Union and is based on you managing your Checking Account in a responsible manner. No application is required for Overdraft Privilege Pay. Your Overdraft Privilege Pay may be suspended or permanently removed based on any one of the following criteria: • You are more than 20 calendar days past due on any Credit Union loan or delinquent on any other obligation to the Credit Union. • You are subject to any legal or administrative order, levy, or are currently a party in a bankruptcy proceeding. • Your Account is in review for fraudulent activity or transactions. • You are less than 18 years old and the Primary Account Owner. • A TeleCheck or any other negative indicator has been reported to us. • Your Account has been opened less than 60 calendar days. • Your Account is classified as inactive. • You have an unresolved prior loss with the Credit Union. • Your Account balance has not had a positive balance within 30 calendar days. We do not have a valid address for you. • We believe you are not managing your Account in a responsible manner which may harm you or the Credit Union. If you no longer want Overdraft Privilege Pay on your Account, simply contact us at 972-263-9497 or 800-314-3828 or visit a Store location. It is important for you to consider that if you choose not to participate in this service you are instructing us not to pay item(s) presented against your Account which exceed the available balance. A non-sufficient funds fee may be charged for each item returned on your Account, as set forth in the Truth-In-Savings Fee Schedule. The Credit Union’s forbearance from, or delay in, exercising any of the Credit Union’s rights, remedies, privileges, or right to insist on your strict performance or any provisions of the Account Agreement, the Overdraft Privilege Pay, or any other provision related to your Account, shall not be construed to be a current or future waiver of the Credit Union’s rights, remedies or privileges.