Tulsa Federal Credit Union offers Overdraft Privilege Service (Courtesy Pay). If your account qualifies for Overdraft Privilege, we will consider, without obligation on our part, paying items for which your account has insufficient or unavailable funds, instead of automatically returning those items unpaid. This document explains how Overdraft Privilege operates.

Transactions that May Qualify for Overdraft Privilege
An overdraft occurs when you do not have enough money in your account to cover a transaction. Although, there are many reasons why your account might become overdrawn, most overdrafts result from the following: 

1. You write a check, swipe your debit card or initiate an electronic funds transfer in an amount, that exceeds the amount of funds available in your account;  
2. You deposit a check or other item into your account and the item is returned unpaid, which causes a negative balance in your account once your balance is reduced by the amount of the returned check; 
3. You have inadequate funds in your account when we assess a fee or service charge; or
4. You initiate a transaction before funds deposited into your account are "available" or "finally paid" according to ourFunds Availability Policy.  For example, if you deposit a check into your account, the proceeds of that check may not be available to you for up to sevendays after you deposit the check. If you do not have sufficient funds in your account—independent of the check—to cover the transaction, you will incur an overdraft.

The Overdraft PrivilegeService applies to a variety of transactions, including checks and other transactions made using your checking account number, automatic bill payments, ATM transactions and everyday debit card transactions; however, we will not include ATM and everyday debit card transactions within our Overdraft Privilege Service without first receiving your affirmative consent to do so. Absent your affirmative consent, ATM and everyday debit card transactions generally will be not be paid under Overdraft Privilege. Get the Opt in Form.
Participation in Overdraft Privilege is not mandatory. You may opt-out of the service any time by notifying one of our service representatives. Furthermore, you may revoke your affirmative consent to have ATM and everyday debit card transactions considered for payment under Overdraft Privilege without removing other items from the service. Simply inform us of your preference. 
As noted above, we retain full discretion to decline to pay any item under the Overdraft Privilege Program. The means we can refuse to pay any overdraft for any reason. Even if we decide to pay an overdraft item, absent an agreement to the contrary, such payment does not create any duty to pay future overdrafts. If we do not authorize and pay an overdraft, your transaction will be declined and we may assess NSF fees on your account in accordance with your account agreement and the fee schedule in effect at the time of the overdraft.
Fees
For each overdraft we pay, we will charge the standard peritem overdraft fee set forth in our fee schedule (currently $28.00).We will notify you by mail if we pay or return any insufficient or unavailable funds items on your account; however, we have no obligation to notify you before we pay or return any item. The amount of any overdrafts including our fees, are due and payable immediatelyor on demand.