Having a check returned due to non-sufficient funds can be costly and humiliating. That's why we provide Member Privilege - Overdraft Courtesy Pay, a special overdraft privilege for SUN Credit Union's members. Member Privilege provides an added level of protection against the occasional unanticipated cash flow emergencies and account reconciliation errors.
What is Member Privilege?
Member Privilege is an overdraft courtesy pay limit that is automatically assigned to your checking account 90 days after the account is opened, provided the account is in good standing.
How does Member Privilege work and when can I use it?
SUN Credit Union may approve your overdraft items within your current available Member Privilege limit as a non-contractual courtesy loan, provided your account is in good standing. Member Privilege is generally assigned to your account 90 days after account opening, again, provided your account is in good standing.
For Member Privilege, your account is considered in good standing if you:
- Make sufficient deposits to bring your account to a positive end-of-day balance at least once every 30 calendar days (including the payment of all credit union fees and charges)
- Avoid excessive overdrafts suggesting the use of Member Privilege as a continuing line of credit
- Have no legal orders, levies or liens against your account
What does Member Privilege cost?
There is no additional cost associated with Member Privilege unless you use it. When Member Privilege is used, a fee of $24 will be charged for each overdrawn item created by traditional paper-based check, teller withdrawal, automatic payment (ACH) transaction, or recurring debit card payment. If you have given SUN Credit Union authorization, we may also cover ATM transfers or withdrawals and everyday debit card purchases.
What is my Member Privilege limit?
- Personal Checking
- Business Checking
Note: the amount of the overdraft, PLUS our Member Privilege fee of $24 for each item, will be deducted from the Member Privilege overdraft limit.
If I have two checking accounts, can I have Member Privilege on both?
If you have multiple accounts for your household, you may have a separate limit on all eligible accounts.
What if I go beyond my Member Privilege limit?
Overdrafts above and beyond the established Member Privilege limit may result in items being returned to the payee. If items are returned, the standard NSF fee will be charged, per item, and assessed to your account. It is important to note, the amount of the overdraft, PLUS our Member Privilege fee of $24 for each item, will be deducted from the Member Privilege overdraft limit.
How quickly must I repay Member Privilege?
Every attempt should be made to bring your account to a positive balance within 30 days. If you are unable to do so, you will receive a letter from SUN Credit Union informing you that your Member Privilege has been suspended and any additional items will be returned. If your Member Privilege is suspended, unless we notify you otherwise, or you request the service to be removed from your account, your limit will be reinstated to cover overdrafts again on the first business day after your account has been brought to a positive balance.
What transactions will Member Privilege cover?
- Teller withdrawal
- Written check
- Recurring Visa Debit Card charge
- ACH – Automatic Debit
- Online Banking transfer
- Online Bill Pay
- M.A.R.S. Bank by Phone transfer
- Personal Checking Account holders may include ATM and everyday debit card transactions upon request. Call 954.967.4441 or visit one of our branches to arrange for ATM and debit card coverage.
What if I do not want Member Privilege on my checking account?
If you would like to have this service removed from your account, please contact our Member Services department at 954.967.4441. However, once this service is removed, if an item is presented for payment and your account does not sufficient funds to cover the payment(s), the item(s) will be returned to the payee and our standard NSF fee will be charged per item.
What if I am having trouble repaying my Member Privilege?
Please contact us at 954.967.4441 if:
- You are unable to bring your account to a positive balance within 30 days
- You find you are using Member Privilege more often than intended
- You do not understand what is causing your account to become overdrawn
We are happy to help our members with Member Privilege – Courtesy Pay, when the unexpected happens. However, the most cost-effective measure is to avoid an overdraft all together. By keeping accurate records and knowing your balance, you can avoid costly fees and potential embarrassment. Use your checkbook register to keep track of your deposits, written checks, withdrawals, and ATM / debit card transactions. And, always reconcile your register with your monthly statement.