In this Courtesy Pay Disclosure (“Disclosure”), the words “you”, “your”, and “yours” mean each and all of those who use the Courtesy Pay service described below. The words “we”, “us”, and “our” mean HawaiiUSA Federal Credit Union. The word “overdraft” includes a negative balance in your sharedraft account that may occur for various reasons, including, but not limited to: (1) the payment of checks or other withdrawal requests authorized by you including, but not limited to, ATM transactions, Point of Sale transactions, and preauthorized transfers for which funds are insufficient; (2) the return (unpaid) of items deposited by you; (3) the imposition of service charges by us; or (4) the deposit of items which are treated as not yet “available” according to our Funds Availability Policy.
The Terms and Conditions and Electronic Funds Transfers Disclosures contained in our Important Account Information For Our Members brochure, which were provided to you at the time you opened your account with us, controls the duties, obligations and rights of the Depositor, the Authorized Signatories and HawaiiUSA Federal Credit Union with regard to your Share draft account. The Terms and Conditions and Electronic Funds Transfers and Truth in Savings Disclosures, and all amendments thereto, shall control any possible conflict between any provision of this Courtesy Pay Disclosure and the Terms and Conditions, Electronic Funds Transfers and Truth in Savings Disclosures.
Pursuant to our commitment to provide valued service and benefits, we may pay checks or other items/transactions (“Items”), which would cause your Share draft account to have negative (or further negative) balance (herein “overdraft”), pursuant to the terms and conditions of this Disclosure.
To allow an overdraft to be created on a one time debit card or ATM transaction, you must have given us your authorization to “opt-in” to process the transaction either at account opening or when the initial card is requested.
The Courtesy Pay service is not a credit product and requires no application or credit approval process. The service is for personal usage accounts and will only be applied to your Share draft account if:
- You maintain your membership in good standing;
- Your Share draft account is more than 60 days old;
- Your loan and credit card accounts with us are not past due;
- Your Share draft account is brought to a positive end-of-day available balance at least once every 15 days;
- There are no legal or administrative orders or levies against your accounts with us;
- There are no pending bankruptcies or financial counseling arrangements;
- The primary accountholder is 18 years of age or older; and
- Your mailing address record is current with us.
ANY SUCH PAYMENT WILL BE MADE ON A CASE BY CASE BASIS, IN OUR SOLE AND ABSOLUTE DISCRETION. However, we shall not pay any item if your negative Share draft account balance is, or if we were to make payment pursuant to the terms and conditions of this Disclosure would become, greater than Five Hundred Dollars ($500.00) plus any applicable fees. You will be notified of any nonsufficient funds item that have been paid or returned; however, you understand that we have no obligation to notify you before we pay or return any item. We may refuse to pay any overdrafts without first notifying you even though your account is in good standing and even if we have paid previous overdrafts.
For any overdrafts created, you promise to pay us upon demand all sums, including the fees and charges for this service, advanced to you or any other person you permit to use your Share draft account and/or who causes an overdraft on your Share draft account.
A Courtesy Pay fee will be charged to your Share draft account, in accordance with our Schedule of Fees and Charges, for each overdraft item that is cleared on your Share draft account. This transaction charge is the same fee charged by us for each “nonsufficient funds” (NSF) item presented for payment and returned unpaid on a Share draft account.
You will be in default under the terms of this Disclosure if you fail to live up to any of the terms and conditions of this Disclosure or you are in default on any loan obligation with us and/or a negative balance default exists in any other deposit account with us on which you are an owner. If you are in default, we may temporarily suspend overdraft privileges or terminate the Courtesy Pay service or close your Share draft account and demand immediate payment of the entire unpaid negative balance. You also agree to pay any collection cost, attorneys’ fees, and court costs, which we or you shall or may incur as a result of your default.
We may modify, terminate or suspend the Courtesy Pay service at any time without prior notice, and we reserve the right to limit Courtesy Pay service to one (1) account per household or member without notice of reason or cause. In no event shall any termination relieve you of your obligation to repay such sums already overdrafted, overdraft fees, collection costs, attorneys’ fees, if any. We can delay enforcing any of our rights under this Disclosure without losing them. If you prefer not to have Courtesy Pay, please contact us at (808) 534.4300 or from the neighbor island or mainland, call toll free at (800) 379.1300.