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A Local Credit Union That Cares

Overdraft Protection

Wailuku Federal Credit Union understands that unexpected overdrafts occur from time to time. Overdraft Coverage can help.

Overdraft Coverage Options

The choice is yours. Consider these ways to cover overdrafts:

Service Cost
Overdraft Protection link to another deposit account you have at Wailuku Federal Credit Union1 $3 fee per transfer
Overdraft Protection Line of Credit1, 2 Subject to interest
Courtesy Pay $20 fee per item

1Email us at CourtesyPay@WailukuFCU.com (decisions will be made within 1-3 business days), call us at (808) 244-7981, or come by a branch to sign up or apply for these service(s); 2Subject to credit approval.

Overdraft Protection applies to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account or line of credit you may have at Wailuku Federal Credit Union for a fee or finance charge. Please note that overdraft lines of credit are subject to credit approval.

Courtesy Pay allows you to overdraw your account up to the disclosed limit for a fee to pay a transaction. Even if you have Overdraft Protection, Courtesy Pay is still available as secondary coverage if the other protection source is exhausted. Please review “What Else You Should Know” section at the bottom of this page for other important information.

Transactions Covered with Courtesy Pay Standard Coverage
(No action required)
Extended Coverage
(Your consent required on consumer accounts)*
Checks X X
ACH - Automatic Debits X X
Recurring Debit Card Transactions X X
Online Bill Pay Items X X
Teller Window Transactions X X
ATM Transactions   X*
Everyday Debit Card Transactions   X*

If you would like to select Extended Coverage for future transactions:

*If you choose Extended Coverage on your consumer account, ATM transactions and everyday debit card transactions will be included with the transactions listed under Standard Coverage. If you already have Courtesy Pay Extended Coverage, it is not necessary to request it again.

You can discontinue Courtesy Pay in its entirety by submitting the online Courtesy Pay Opt In/Out form, sending us an email at CourtesyPay@WailukuFCU.com or contacting us at (808) 244-7981. For additional financial education resources on overdraft options, click here.

What Else You Should Know

  • A link to another account or line of credit may be a less expensive option than an overdraft. A single larger overdraft will result in just one fee, as opposed to multiple smaller overdrafts. Good account management is the best way to avoid overdrafts. Use our mobile and internet banking services to keep track of your balance. For additional financial education resources, please visit www.mymoney.gov.
  • The $20 Courtesy Pay Fee that is charged is the same fee amount that is charged if an item is returned as unpaid. If multiple items overdraw your account on the same day, each item will be assessed an appropriate Courtesy Pay Fee or a Sharedraft Return of $20. All fees and charges will be included as part of the Courtesy Pay limit amount. Your account may become overdrawn more than the Courtesy Pay limit amount because of a fee.
  • Recipients of federal or state benefits payments who do not wish us to deduct the amount overdrawn and the fee from funds that you deposit or that are deposited into your account may call us at (808) 244-7981.
  • If an item is returned because the available balance in your account is not sufficient to cover the item and the item is presented for payment again, Wailuku Federal Credit Union will charge a Sharedraft Return each time it returns the item because it exceeds the available balance in your account. If, on representment of the item, the available balance in your account is sufficient to cover the item Wailuku Federal Credit Union may pay the item, and, if payment causes an overdraft, charge a Courtesy Pay Fee.
  • There is no limit on the total Courtesy Pay Fees per day we will charge.
  • This describes the posting order for purposes of determining overdrafts. Our general policy is to post items throughout the day and to post ACH credits before debits. ATM, ACH, paper checks and debit card transactions are posted from lowest to highest dollar amount. However, because of the many ways we allow you to access your account, the posting order of individual items may differ from these general policies. Holds on funds (described herein) and the order in which transactions are posted may impact the total amount of Courtesy Pay Fees or Sharedraft Return Fees assessed.
  • Although under payment system rules, Wailuku Federal Credit Union may be obligated to pay some unauthorized debit card transactions, Wailuku Federal Credit Union will not authorize debit card or ATM transactions unless your account’s available balance (including Overdraft Coverage Options) is sufficient to cover the transactions and any fee(s).
  • Giving us your consent to pay everyday debit card and ATM overdrafts on your consumer account (Extended Coverage) may result in you incurring Courtesy Pay Fees for transactions that we would otherwise be required to pay without assessing a Courtesy Pay Fee. However, this would allow us to authorize transactions up to the amount of your Courtesy Pay limit and may also help you avoid overdrafts in excess of your available balance. If you consent to Extended Coverage on your consumer account, it will remain on your account until it is otherwise withdrawn.
  • Wailuku Federal Credit Union authorizes and pays transactions using the available balance in your account. Wailuku Federal Credit Union may place a hold on deposited funds in accordance with our Membership Agreement and Disclosure, which will reduce the amount in your available balance. The available balance for checks, ACH items, and recurring debit card transactions is comprised of the ledger balance, less any holds on deposited funds and any debit card holds, plus the amount of the Courtesy Pay limit and any available Overdraft Protection. The available balance for ATM and everyday debit card transactions on accounts with Standard Coverage is the ledger balance, less any holds on deposited funds and any debit card holds, plus any available Overdraft Protection, but does NOT include the Courtesy Pay Limit. For accounts with Extended Coverage, the Courtesy Pay Limit is included in the available balance for authorizing ATM and everyday debit card transactions.
  • Please be aware that the Courtesy Pay amount is not included in your available balance provided through online banking, mobile banking or Wailuku Federal Credit Union’s ATMs.
  • Wailuku Federal Credit Union will place a hold on your account for any authorized debit card transaction until the transaction settles (usually within two business days) or as permitted by payment system rules. In some cases, the hold may exceed the amount of the transaction. When the hold ends, the funds will be added to the available balance in your account. If your account is overdrawn after the held funds are added to the available balance and the transaction is posted to the available balance, a Courtesy Pay Fee may be assessed.
  • Except as described herein, Wailuku Federal Credit Union will not pay items if the available balance in your account (including the Courtesy Pay limit, if applicable) is not sufficient to cover the item(s) and the amount of any fee(s).
  • A Courtesy Pay limit of $500 will be granted to eligible consumer checking accounts opened at least 30 days in good standing.
  • Courtesy Pay is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice.
  • Courtesy Pay may be suspended if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within 32 days for a minimum of one business day. You must bring your account balance positive for at least one business day to have the full Courtesy Pay limit reinstated.
  • Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the Membership Agreement and Disclosure. The total (negative) balance, including all fees and charges, is due and payable upon demand.

If you have any questions about Overdraft Protection or Courtesy Pay, please call us at (808) 244-7981 or visit the branch.

I recently applied for a mortgage loan at Wailuku Federal Credit Union. The employees there were very helpful and knowledgeable and answered all of my questions. Without their help I would not have been able to purchase my home. I highly recommend seeing them for your financing needs.
-Lance B.