Add a Buffer to Your Finances

We all make mistakes. It’s part of being human. That’s why we offer the Overdraft Privilege Program with Courtesy Pay.*

When you opt-in, your savings and checking accounts will be linked. If your checking account runs out of funds, available funds from your savings account will automatically be withdrawn to cover your transaction. If funds are not available in your savings, you have authorized Local 804 FCU to overdraw your account.

That means, instead of paying fines on a missed bill or facing the embarrassment of being turned away at the check stand with a mountain of groceries all bagged and ready to go, you’ll be able to buy and pay for what you need.

However, 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, the item will be returned or the transaction will be declined.**

What You Need to Know About Overdraft Privilege w/Courtesy Pay

Overdraft Privilege w/Courtesy Pay covers the following transactions:

  • Automatic bill payment
  • ACH transactions
  • Checks
  • ATM withdrawals
  • Debit card transactions

It will cover purchases of up to $500 over your available account balance for just $25 per occurrence. Local 804 FCU will only charge your account for five (5) items per business day. There is a grace period of 14 days to correct a negative balance. After the 14-day grace period, there will be a Negative Balance Fee of $2.00 per day. For ATM and Debit Card transactions ONLY, when funds are available in your savings, there will be a $1 Overdraft Transfer Fee.

Want to add overdraft protection? Just fill out the Opt-In form via DocuSign. If you prefer to download the Opt-In form, you can get it back to us by mail or fax at 718-878-4623. You can OPT-OUT at any time for this service.


*This service is available to all existing checking accounts and for new accounts open at least six (6) months and in good standing. If account reaches these limits, any additional unpaid checks will be returned and charged the $25 fee. If member’s account is enrolled for automatic transfer from savings the Overdraft Privilege w/Courtesy Pay program will only be used as a last resort. Automatic transfer will always be used in full before the overdraft protection program takes effect.

**If your automatic bill payment, ACH transaction or check transaction is declined due to insufficient funds, there will be a $25 insufficient funds fee per item. Local 804 FCU will only charge your account for five (5) items per business day.  If your ATM withdrawal or Debit Card transaction is declined due to insufficient funds there will be no fee.