WHAT IS AN OVERDRAFT FEE?

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

• We have standard overdrafts practices that come with your account.
• We also offer overdraft protection plans, such as a link to another account, which may be less expensive than our standard practices. To learn more, ask us about these plans.

WHAT ARE THE STANDARD OVERDRAFT PRACTICES 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:

• 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.

If we do not authorize and pay an overdraft, your transaction will be declined.

WHAT FEES WILL BE CHARGED IF PNCU PAYS MY OVERDRAFT?

Under our standard overdraft practices:

• We will charge you a fee up to $33.00 each time we pay an overdraft.
• There is no limit on the total fees we can charge you for overdrawing your account.

WHAT IF I WANT PNCU TO AUTHORIZE AND PAY OVERDRAFTS ON MY ATM AND EVERYDAY DEBIT CARD TRANSACTIONS?

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call (866) 592-7628 or complete the form below and present it at a branch or mail it to: Operations Department, PO Box 327;
Chicopee, MA 01021.

􀀁 I want Polish National Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions.

Printed Name: ____________________________________________________
Signature: ________________________________________________________
Date: ___________________________________________________________
Account Number(s): _________________________________________________
_______________________________________________________________

HAVE YOU EVER?

• Had the embarrassment and expense of a check or automatic payment returned NSF?
• Had a check denied at checkout?
• Forgotten to record a deposit? A purchase? A withdrawal?
• Had to “guess” at what transactions a joint owner has made?

We cannot promise of guarantee these things will never happen.

YOU DESERVE
CONSIDERATION

Rather than automatically returning unpaid all insufficient funds items that you may have, we will consider, without obligation on our part, payment of your reasonable overdrafts up to your assigned Overdraft Privilege Limit.
You do not have to apply for or sign any additional documents for this service for checks, ACH or recurring debit transactions. It is already a part of your Checking Account Agreement with us. If you want us to consider paying ATM and one time debit card transactions that would overdraw your account we need your affirmative consent to do so.
If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call (866) 592-7628 or visit one of our local offices.

If you do not use Overdraft Privilege it costs you nothing. “Use” means you initiate insufficient funds transactions.

If you do use Overdraft Privilege you will be subject to our customary fees set out in our Fee Schedule and Overdraft Privilege Policy.

OVERDRAFT PRIVILEGE
SERVICE POLICY

(A Discretionary Overdraft Service)

Polish National Credit Union offers the Overdraft Privilege Service. If your account qualifies for Overdraft Privilege, we will consider, without obligation on our part, paying items for which your account has insufficient or unavailable funds, instead of automatically returning those items unpaid. This document explains how Overdraft Privilege operates.

Transactions that May Qualify for Overdraft Privilege
An overdraft occurs when you do not have enough money in your account to cover a transaction. Although there are many reasons why your account might become overdrawn, most overdrafts result from the following:

a.) You write a check, swipe your debit card or initiate an electronic funds transfer in an amount that exceeds the amount of funds available in your account

b.)  You deposit a check or other item into your account and the item is returned unpaid, which causes a negative balance in your account once your balance is reduced by the amount of the returned check;

c.) You have inadequate funds in your account when we assess a fee or service charge; or

d.) You initiate a transaction before funds deposited into your account are “available” or “finally paid” according to our Funds Availability Policy. For example, if you deposit a check into your account, the proceeds of that check may not be available to you for up to seven days after you deposit the check. If you do not have sufficient funds in your account—independent of the check—to cover the transaction, you will incur an overdraft.

The Overdraft Privilege Service applies to a variety of transactions, including checks and other transactions made using your checking account number, automatic bill payments, ATM transactions and everyday debit card transactions; however, we will not include ATM and everyday debit card transactions within our Overdraft Privilege Service without first receiving your affirmative consent to do so. Absent your affirmative consent, ATM and everyday debit card transactions generally will be not be paid under Overdraft Privilege.

Participation in Overdraft Privilege is not mandatory. You may opt-out of the service any time by notifying one of our service representatives. Furthermore, you may revoke your affirmative consent to have ATM and everyday debit card transactions considered for payment under Overdraft Privilege without removing other items from the service. Simply inform us of your preference.

As noted above, we retain full discretion to decline to pay any item under the Overdraft Privilege Program. The means we can refuse to pay any overdraft for any reason. Even if we decide to pay an overdraft item, absent an agreement to the contrary, such payment does not create any duty to pay future overdrafts. If we do not authorize and pay an overdraft, your transaction will be declined and we may assess NSF fees on your account in accordance with your account agreement and the fee schedule in effect at the time of the overdraft.

FEES

For each overdraft we pay, we will charge the standard per item overdraft fee set forth in our fee schedule (currently $33.00). We will notify you by mail if we pay or return any insufficient or unavailable funds items on your account; however, we have no obligation to notify you before we pay or return any item. The amount of any overdrafts, including our fees, are due and payable immediately or on demand.

ACCOUNTS ELIGIBLE
FOR OVERDRAFT PRIVILEGE

Overdraft Privilege is a discretionary service and is generally limited to a $500 overdraft (negative) balance for eligible personal checking accounts; or a $1,000 overdraft (negative) balance for eligible business checking accounts. Please note that overdraft fees count toward your Overdraft Privilege Limit. We may in our sole discretion limit the number of accounts eligible for Overdraft Privilege to one account per household or per taxpayer identification number. Further, Overdraft Privilege is usually extended only to accounts in good standing. An account in good standing exhibits, but is not limited to, the following characteristics:

a.) The account has been open for at least thirty (30) days;
b.) The account has deposits totaling at least $400 or more within each thirty (30) day period;
c.) The account demonstrates consistent deposit activity;
d.) The account owner is current on all loan obligations with us; and
e.) The account is not subject to any legal or administrative order or levy, such as bankruptcy or tax lien.

We offer other overdraft protection services in addition to Overdraft Privilege. This includes overdraft protection linked to another account of yours with us, such as a savings account. If you choose this optional service, you may save money on the total fees you pay us for overdraft protection services.

Overdrafts should not be used to pay ordinary or routine expenses and you should not rely on overdrafts as a means to cover these expenses. If at any time you feel you need help with your financial obligations, please contact one of our member service representatives at your local branch office.

OVERDRAFT PRIVILEGE
CAN MEAN…

• You may avoid high charges from merchants for returned checks or automatic payments
• You may avoid the embarrassment and inconvenience of checks and automatic payments being dishonored
• Payment of your occasional and inadvertent overdrafts up to your assigned Overdraft Privilege Limit will normally be considered. These limits include our customary fees set out in our Fee Schedule. Our fees will be added to any outstanding overdrafts you may have and will be applied against your Overdraft Privilege Limit.

You may opt out of the Overdraft Privilege program at any time by simply contacting one of our member service representatives at your local branch office.