Optional Overdraft Transactions. If you would like to include debit card transactions in the Service, you are required to “opt-in” (in other words, you must provide us with your affirmative consent). Choosing not to opt in may result in debit card transactions being declined. You understand and agree that we do not require you to authorize the Service for your one-time debit card trans- actions as a condition of us providing the Service to you for your checks, ACH transactions or other transactions subject to this Overdraft Privilege Service Agreement. If you want the Credit Union to authorize and pay overdrafts for one-time debit card transactions, you must provide us with your consent by: Completing and submitting an opt-in consent form to a branch or by mail to Los Angeles Police Federal Credit Union, P.O. Box 10188, ▇▇▇ ▇▇▇▇, CA. 91410-0188. Eligibility for the Service. The Service is not a credit product and requires no application or credit approval process; it is a feature that is automatically included with eligible checking accounts (unless you opt out of the Service entirely as described below). Eligibility is at the sole discretion of the Credit Union and is based on you managing your checking account in a responsible manner. The Service is available for checking accounts for which the primary checking account owner is 18 years of age or older, is in good standing, and the account has been open for at least thirty-one (31) days with the applicable minimum balance requirement. We reserve the right to limit the Service to one (1) account per household or member. We may suspend or permanently revoke the Service from your checking account, in our sole and absolute discretion, based on any one or more of the following criteria: • You are not making regular deposits into your checking account; • You do not bring your checking account to a positive balance for at least one full business day within a thirty (30) day period; • Your membership is not in good standing; • You are more than thirty-one (31) days past due or are in default in any other respect on any loan or other obligation to us; • You have an outstanding balance due on an overdraft repayment plan; • Your checking account is subject to any legal or administrative orders or levies; • You have insufficient credit or negative credit history; • You are a party to a bankruptcy proceeding; • Any or all of your account(s) with us are being reviewed for improper activity or transactions; • Your checking account is classified as inactive; • You use the Service to pay items written to check cashing agencies; • You have an unresolved prior loss with us; • We do not have a valid mailing or email address for you; or • We believe you are not managing your checking account in a responsible manner which may harm you or us. When is the overdraft payment due? The total of the overdraft (negative) balance in your checking account, including any and all fees and charges, is due and payable upon demand, and you are required to immediately deposit sufficient funds to cover the overdraft paid by us and pay the related fees. by the amount of each overdraft paid by us through the Service and the amount of the related Overdraft Privilege Fee imposed until such amounts are repaid by you as set forth herein at which time we may replenish your Overdraft Privilege Limit by the amount of the repayment. If we choose not to pay the item/ transaction under the Service, you are subject to a NSF Fee of $30 for each such item in accordance with our Schedule of Fees. Your periodic statement will itemize Overdraft Privilege Fees and NSF Fees for each cycle, as well as the year-to-date total of fees.
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Sources: Member Account Agreement and Disclosure, Member Account Agreement and Disclosure
Optional Overdraft Transactions. If you would like to include debit card transactions in the Service, you are required to “opt-in” (in other words, you must provide us with your affirmative consent). Choosing not to opt in may result in debit card transactions being declined. You understand and agree that we do not require you to authorize the Service for your one-time debit card trans- actions as a condition of us providing the Service to you for your checks, ACH transactions or other transactions subject to this Overdraft Privilege Service Agreement. If you want the Credit Union to authorize and pay overdrafts for one-time debit card transactions, you must provide us with your consent by: Completing and submitting an opt-in consent form to a branch or by mail to Los Angeles Police Federal Credit Union, P.O. Box 10188, ▇▇▇ ▇▇▇▇, CA. 91410-0188. Eligibility for the Service. The Service is not a credit product and requires no application or credit approval process; it is a feature that is automatically included with eligible checking accounts (unless you opt out of the Service entirely as described below). Eligibility is at the sole discretion of the Credit Union and is based on you managing your checking account in a responsible manner. The Service is available for checking accounts for which the primary checking account owner is 18 years of age or older, is in good standing, and the account has been open for at least thirty-one (31) days with the applicable minimum balance requirement. We reserve the right to limit the Service to one (1) account per household or member. We may suspend or permanently revoke the Service from your checking account, in our sole and absolute discretion, based on any one or more of the following criteria: • You are not making regular deposits into your checking account; • You do not bring your checking account to a positive balance for at least one full business day within a thirty (30) day period; • Your membership is not in good standing; • You are more than thirty-one (31) days past due or are in default in any other respect on any loan or other obligation to us; • You have an outstanding balance due on an overdraft repayment plan; • Your checking account is subject to any legal or administrative orders or levies; • You have insufficient credit or negative credit history; • You are a party to a bankruptcy proceeding; • Any or all of your account(s) with us are being reviewed for improper activity or transactions; • Your checking account is classified as inactive; • You use the Service to pay items written to check cashing agencies; • You have an unresolved prior loss with us; • We do not have a valid mailing or email address for you; or • We believe you are not managing your checking account in a responsible manner which may harm you or us. When is the overdraft payment due? The total of the overdraft (negative) balance in your checking account, including any and all fees and charges, is due and payable upon demand, and you are required to immediately deposit sufficient funds to cover the overdraft paid by us and pay the related fees. by the amount of each overdraft paid by us through the Service and the amount of the related Overdraft Privilege Fee imposed until such amounts are repaid by you as set forth herein at which time we may replenish your Overdraft Privilege Limit by the amount of the repayment. If we choose not to pay the item/ transaction under the Service, you are subject to a NSF Fee of $30 for each such item in accordance with our Schedule of Fees. Your periodic statement will itemize Overdraft Privilege Fees and NSF Fees for each cycle, as well as the year-to-date total of fees.
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