Your savings federally insured to at least
$250,000 and backed by the full faith
and 
Mistakes happen. Unforeseen events come up.
Whether it’s forgetting to enter a debit card purchase in your check register or paying for an unexpected household repair, these situations can cause embarrassment and numerous fees, and impact financial management if it causes you to overdraw your checking account.
MCU understands these events can happen to any of us. That is why we offer members Privilege Pay and Overdraft Transfer, to help ensure that even if you have short-term financial or cash-troubles, your important bills such as your mortgage, rent and car payments will be made. You will still pay a fee for each item, but you will benefit by:
- Avoiding the additional merchant returned-check fee
- Avoiding costly late fees
- Protecting your good credit
- Avoiding embarrassing situations at the check-out
How do overdrafts and bounced checks happen?
Overdrafts happen when you do any of the following for an amount that is more than the amount in your checking account,
- Write a check
- Withdraw money from an ATM
- Use your MCU debit card to make a purchase
- Make an online bill payment or electronic payment using your checking account number
How Does Privilege Pay Work
Privilege Pay is a benefit offered to qualified members that will offer a level of protection from returned checks and transaction denials. Instead of returning your check non-sufficient funds or denying your MCU Debit/ATM card transaction at the checkout, MCU will have the option to pay the item(s) posted to your account while it is overdrawn.
Privilege Pay is not a loan. Our standard NSF fee will be assessed for each item that draws your account negative. You must then bring your account back to positive within three business days.
MCU may offer Privilege Pay at its discretion on checks, online bill payments, and ACH withdrawals. To extend this coverage to ATM and one-time debit card transactions when you do not have enough money in your account to cover the transaction, you must authorize MCU to do so by completing an ATM/Debit Card Overdraft Option Form.
Overdraft Transfer
You may also elect to link another account you have at MCU as your overdraft funding account. If a checking transaction is presented, and there is not enough money in your checking account, MCU will transfer the funds needed to cover that item, plus the Overdraft Transfer Fee from the designated account to pay your items. If the linked account does not have sufficient funds to cover the item, any Privilege Pay available will be extended. To sign up for Overdraft Transfer, please call MCU at 800-662-2772, ext. 2.
The best way to avoid overdraft fees is to manage your account so you do not overdraw it:
- Keep track of how much money you have in your checking account by keeping your check register up to date. Record all transactions and fees.
- Pay special attention to electronic transactions. Record ATM withdrawals, online payments and debit card purchases.
- MCU offers free eAlerts sent to your desktop or mobile phone on a daily basis. Or, log in to MCU Online Banking to check transactions.
- Review your account statement each month.
Need help? Call us at 800.662.2772