Courtesy Pay

Protecting You from Unexpected Expenses & Checkbook Errors
Sometimes unexpected circumstances happen. Whether it is an unanticipated car repair, a mathematical mistake while balancing your checkbook or other unexpected expenses, these situations can cause stress and embarrassment. At Louisiana FCU, we understand these events can happen to all of us. That’s why we’ve implemented a Courtesy Pay Program.

What Is Courtesy Pay?
Courtesy Pay is a new service that allows Louisiana FCU to cover transactions for which there are insufficient funds in your account. Courtesy Pay may cover items such as share drafts, MasterCard Debit transactions, ACH items, point-of-sale (POS) transactions, and ATM transactions. This means, instead of returning a check or ACH item to the merchant because of non-sufficient funds, Louisiana FCU may pay it, saving you additional charges from merchants as well as the embarrassment of an overdraft.

How Does Courtesy Pay Work?
When an overdraft is covered, the account will become negative by the dollar amount of the overdraft plus the amount of the Courtesy Pay fee.  We may honor multiple overdrafts – up to the limit of $300 including the fee for each overdraft. When Louisiana FCU honors items, you must deposit funds immediately, but in no case more than thirty (30) days from the date of your earliest overdraft.

Courtesy Pay is not a loan. If you fail to cover the total overdraft amount within thirty (30) days, Louisiana FCU may pursue all collection options available and you will be removed from the program until the overdraft amount is paid.

What are the fees?
The Courtesy Pay Program fee ranges from $25 - $30; depending on your Member Relationship Category regardless of the amount the account is overdrawn. The fee will be charged for each overdraft item presented and paid by Louisiana FCU. We will send you a notice each time an item is covered by Courtesy Pay.

Do I Have To Apply For Courtesy Pay?
No. We require no applications or additional signatures. Courtesy Pay is available to members with checking accounts that meet all of the following:

• must be over 18 years of age with a valid mail address
• cannot be delinquent on any loans with Louisiana FCU
• cannot have any charged off loans or shares
• checking account must have an average daily balance of at least $300 for the past 60 days or three direct deposits in the past 60 days

As long as these conditions are met, your Courtesy Pay privilege remains activated. Courtesy Pay is a way for us to provide a higher level of service to our members by protecting your accounts and reputations when an unintended overdraft occurs. Please note that you may decline the privilege of Courtesy Pay at any time simply by sending written notice to Louisiana FCU, P.O. Box 1956, La Place, Louisiana 70069-1956 or call us at 985.652.4990.

What If I Already Have Overdraft Protection?
If you have established alternate overdraft protection methods such as a line of credit or automatic transfer from your other accounts, we will always attempt to pay an overdraft using these methods before paying your overdraft utilizing Courtesy Pay.

Click here for our Courtesy Pay Program disclosure.

New law affecting Courtesy Pay

On August 15, a new federal law will go into effect requiring Louisiana FCU to have your consent to authorize and pay your everyday debit card and ATM transactions if you do not have enough money in your account. To authorize Louisiana FCU to pay your debit card and ATM transactions, click here.