Refer a FriendLake Michigan Credit Union provides multiple options to help protect your account from overdrafts. Eligible new accounts are enrolled into Courtesy Pay after 30 days and additional forms of protection are available upon request.
Overdraft Protection
Overdraft Protection Options
Courtesy Pay can cover overdrafts from ACH transactions, checks, and recurring bill payments. If eligible, you are automatically enrolled into Courtesy Pay 30 days after you open your account.
Courtesy Pay for Debit can cover everyday debit/ATM transactions when your account balance is insufficient. To opt in to Courtesy Pay for Debit, use the opt-in form below, call (800) 242-9790, or visit a branch. For more detailed information, view the Courtesy Pay for Debit disclosure.
Savings Overdraft Protection allows you to use your Member Savings balance to cover overdrafts on eligible checking accounts and is only available upon request by calling (800) 242-9790 or visiting a branch.
Important Information
What is an overdraft?
An overdraft occurs when you do not have enough money in your account to cover a transaction. With Overdraft Protection, LMCU places funds into your account to cover the overdraft so the bill is paid.
Does LMCU always cover an overdraft?
We pay overdrafts at our discretion, which means we do not guarantee we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.
Can I be enrolled in multiple forms of overdraft protection at the same time?
Yes. If you are enrolled in multiple overdraft protection plans and an overdraft occurs, Savings Overdraft Protection will activate first. In the case that your Member Savings balance is insufficient to cover the overdraft, Courtesy Pay or Courtesy Pay for Debit will activate, depending on the type of transaction and eligibility.
What fees will I be charged if you pay my overdraft?
We will charge you a $30.00 fee for each transaction covered by Courtesy Pay or Courtesy Pay for Debit.
Courtesy Pay for Debit Opt-In Form
To opt in to Courtesy Pay for Debit and authorize us to pay overdrafts on ATM and everyday debit card transactions, make your selection below. You may change your overdraft protection designation for your account at any time.