Disclosure of Account Information - The Golden 1 Credit Union

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2. You bring your account to a positive balance (not
overdrawn) immediately or as soon as possible
after it has been overdrawn, and in no event less
than once every thirty (30) days; and
3. Your account is not the subject of any legal or
administrative order or levy, such as bankruptcy or
a tax lien.
If you meet these requirements, and any additional
requirements we may institute, we will consider, without
obligation on our part, approving your reasonable
overdrafts up to your assigned Courtesy Pay program
limit. Generally you will be provided with up to
$500.00 in overdraft negative balance protection for
Free Checking, MarketRate Checking SM , and Premium
Checking SM Accounts. This disclosure is an addendum to
the Disclosure of Account Information governing these
accounts.
Our normal fees and charges, including, without
limitation, our Courtesy Pay Fee (which is currently
$27.50 per item as set forth in our Fee Schedule and
is subject to change with notice as required by law)
will be charged. This means that for each item presented
for which there are insufficient funds in your account,
you will currently be charged $27.50. We will charge this
fee whether we approve the item for payment or not,
and regardless of whether Courtesy Pay protection is
available to cover the item. For example, if three items are
presented on a single day for which there are insufficient
funds, you will currently be charged $82.50 in fees. Other
fees may apply and impact the Courtesy Pay limit, such as
our Overdraft Protection (from savings or loan) Fee and
Check Deposit/Payment Returned Fee. All applicable fees
will be included in the $500.00 limit mentioned above.
In other words, in calculating whether you have reached
the $500.00 limit, we will count not only the amount
overdrawn, but also all applicable fees. It’s also important
that you know that transactions may not be processed
in the order in which they occurred. The order in which
transactions are received and processed by us can affect
the total amount of fees incurred.
We may refuse to pay an overdraft for you at any time,
even though your account is in good standing and even
though we may have previously paid overdrafts for you.
This program is a courtesy extended at our discretion,
and we have no obligation to pay any items drawn
against insufficient funds. You will be notified by any
method reasonably calculated to provide actual notice,
including without limitation, notice given by first class
mail to your last address shown on the credit union’s
records, or by electronic transmission as permitted by