U of I Employees Credit Union
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Courtesy Pay Opt-In
What is Reg E?

Regulation E is the federal regulation that establishes the rights, liabilities, and responsibilities of parties in electronic funds transfers and protects consumers when they use such systems. Recent amendments to Regulation E limit the ability of financial institutions to allow ATM withdrawals and one-time debit transactions that overdraw a consumer’s account unless the consumer has previously opted in for overdraft protection for those transactions and agreed to the institution’s fee structure.

Currently if a member has Courtesy Pay – our overdraft protection feature – on their account, charges that would overdraw their account and would otherwise be returned for insufficient funds (NSF) may instead be paid up to the limit of up to $1,000 (or other pre-arranged amount), and their account is charged a negative funds paid fee for each transaction. 

Effective August 15, 2010, members will no longer be able to use Courtesy Pay to cover ATM or one-time debit transactions (grocery store, pharmacy, emergency, etc.) unless they Opt-In for overdraft protection service.

To ensure your emergency transactions are covered, please go online to our Courtesy Pay Opt-In Form and opt in today.

Frequently Asked Questions  



All ATM and one-time debit transactions will be declined if there are not sufficient funds in your account to cover the charges.
No If you have Courtesy Pay, checks and electronic (ACH) payments may be approved &/or paid even if there are not sufficient funds. There is also the chance that recurring debit transactions or preauthorized transactions could overdraw the account.
It costs nothing to Opt In – Just like right now you are only charged if you use the service. There is a fee of $30 for every transaction that results in or increases a negative balance.
Certainly – We will send you a confirmation letter in about 7-10 days that will detail all of the information at the point at which you opt in. To opt in today, please submit the Courtesy Pay Opt-In Form online.
Yes – If you Opt In now, you have the right to Opt Out at any time in the future by notifying the credit union in writing.
No – Please be assured that we are not asking for any of your personal information. All of information that we have provided will be included in the confirmation letter you will receive in the mail. This information can also be verified by accessing our website at www.uiecu.org or calling the credit union directly. 
Effective June 1, 2010 the fee was increased to $30.
The maximum limit for Courtesy Pay was also increased to $1,000 effective October 1, 2012. If your limit was less than $500, it remains unchanged.
Any owner of the account may opt in. A confirmation letter will be sent to the primary owner of the account.
There are other options available including overdraft protection transfer from a savings or other eligible account; Overdraft Protection Line of Credit.
Courtesy Pay is not a loan. Any overdraft is expected to be repaid as soon as possible.


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