Salal Credit Union

Overdraft Protection Options

In a perfect world, no one would have to worry about overdraft protection. The reality is, sometimes things happen outside our control that make us quickly shift our priorities.

Overdraft protection can help you when circumstances prevent you from being on top of your finances. Simply stated, it’s a way to ensure necessary bills and expenses are still taken care of when your checking account balance falls below zero.

There are three different ways you can prevent overdrafts and keep your payments from being declined or returned.


Overdraft Transfer Protection

Assign a Salal account of your choice to be your backup savings*—other checking, EZ Line of Credit, Visa, or Custom Fit Home Equity**—and money will automatically be pulled to cover checks, ATM withdrawals, and other electronic transactions that may cause your checking account to go negative.

Cost: A $5 transfer fee, except for when using your Visa; maximum of one fee per day. For Visa cards, you’ll pay a Cash Advance fee of $10 or 3% of the transferred amount, whichever is greater.

SET IT UP: Call 800.562.5515 or visit a branch.

Courtesy Pay Basic

Unless you have a Pathway Checking account, have chosen to opt out of this service, or you are no longer a member in good standing, you are automatically covered on checks and recurring ACH transactions. Recurring ACH transactions occur when you authorize a merchant to make a series of payments directly from your account to pay for gym memberships, utility bills, subscriptions to entertainment services, etc.

Cost: $29 for each item covered, up to $116 per day.

OPT OUT: Call 800.562.5515 or visit a branch.

Courtesy Pay Plus

In addition to the checks and recurring ACH transactions that may be covered by Courtesy Pay Basic, ATM and everyday debit card transactions are also paid for with Courtesy Pay Plus. This can be useful in emergency situations when you need to access cash or pay for groceries or gas. This level of coverage requires you to opt in.

Cost: $29 for each item covered, up to $116 per day.

OPT IN OR OUT: Call 800.562.5515, visit a branch, or download and complete this form. You may opt in or opt out of this service at any time.

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Important note about Courtesy Pay Basic and Plus:

You must bring your accounts to a positive balance within 30 days to retain your Courtesy Pay Basic and Plus privileges. Because these are discretionary services, we reserve the right not to pay your overdrafts. For example, we typically do not pay overdrafts if your account is not in good standing or if you are not making regular deposits.

What if you choose not to be covered by any of the three options above?
  • Your overdraft checks and ACH transactions will be returned and not paid.
  • You will be charged a $29 fee for each returned check and/or ACH transaction (up to a daily maximum of $116).
  • Your overdraft ATM and debit transactions will be declined with no additional fee.

Salal pays 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 denied. Courtesy Pay Basic and Courtesy Pay Plus are provided as a convenience to you and are not loans. Your accounts with Salal must be maintained in good standing to be eligible for this service. If the Credit Union pays an item that would overdraw your checking account, you agree to pay the overdraft within 30 days of the overdraft occurrence. Only one checking account per Primary Member is eligible for Courtesy Pay Basic and Plus.

*Federal regulations place limits on certain types of transfers from savings accounts. An Excessive Transaction fee will be assessed on each occurrence over six (6) during the month for any pre-authorized third party transfer. Refer to your Membership & Account Agreement for information on transaction limitations.
**Salal loans are subject to approval.