Saint Vincent Erie Federal Credit Union

Share Drafts (Checking Accounts)

OVERDRAFT TRANSFER PROTECTION

• Overdraft Transfer Protection will be provided on all share draft accounts from share and/or club accounts.
• If a draft cannot be paid by a transfer from a share or club account, the draft will be returned NSF.

STATEMENTS

• Statements will be mailed each month. The statement is to be used by the member for reconcilement.
• Paid share drafts will not be returned with the statements.

PREAUTHORIZED EFT’S

• Direct Deposit - The credit union will accept direct deposits of
• Paychecks
• Federal recurring payments such as Social Security
• Other non-recurring deposits such as tax refunds
• Preauthorized Debits - Upon instruction, we will pay certain recurring transactions from the members share draft account.

DEBIT CARDS

• Debit cards may be used as follows:
• Withdrawal of cash at an ATM
• Purchases at merchants that accept VISA
• Cash back when making a purchase

Introducing Courtesy Pay

We all make mistakes - whether it's an error balancing our checkbook, or a forgotten ATM withdrawal. Avoid the embarassment of being declined at the register.  Don't pay the fees associated with returned checks or ACH transactions from the vendor.

While it is not an invitation to overdraw your account, it is an added layer of safety should you accidentally write checks for more than you have in your account, or an inadvertent error that causes the account to become overdrawn. You should also consult with the Credit Union regarding our formal overdraft services via your share account.

Courtesy Pay automatically covers checks, debit ACH payments and recurring debit transactions on eligible checking accounts.  Recent federal regulations now require members to opt in to participate in Courtesy Pay for everyday debit card transactions.

Is there a charge for Courtesy Pay?
There are no fees to have the service available on your account. If you use Courtesy Pay to overdraw your account you will be charged our standard fee of $25 for each insufficient item as described in our Courtesy Pay Policy.

Opt-In Procedures
You must opt in for your Courtesy Pay privilege for everyday debit card transactions.  Simply call us, email us or mail in the form provided below to notify us of your decision.

814-452-5743

2314 Sassafras Street
Suite 100
Erie, PA 16502