In October 2003 Duke University
Federal Credit Union began offering a Courtesy Pay, or Bounce Protection,
service to cover checks when there may not have been a sufficient
balance in the checking account to cover the checks at the time
of presentment.
Please be reminded that this service
is a non-contractual courtesy that we extend to our Members who
maintain their accounts in good standing. The Credit
Union reserves the right to define and determine an account’s
standing. This Courtesy Pay service is not, and was never,
guaranteed, and accounts can be qualified and disqualified
at the Credit Union’s determination.
Through preliminary review, some
accounts have been found to not be in good standing,
and these accounts have already been disqualified from the service.
If your account is one that has been disqualified, we regret any
inconveniences you may experience from this disqualification. If
your account has been preliminarily disqualified and you would like
further information regarding such please contact the Credit Union
at your earliest convenience.
We will soon begin qualifying
and disqualifying accounts for this service on a daily
basis. If your account is not in good standing, for example
if you have excessive insufficient funds in a certain time frame,
or if you have a delinquent loan, then please expect to be disqualified
from our Courtesy Pay-Bounce Protection service. If your account
has been opened longer than 29 days, and your account is in good
standing, then your account will be automatically qualified for
this service.
Please remember that Courtesy Pay
should serve on an "accidental" basis. If you are concerned
about excessive use of the service or if you would like assistance
in getting your finances and budget under control so that you are
not reliant on Courtesy Pay, Duke University Federal Credit Union
offers free financial counseling to all of its members. We have
on-site Financial Guidance Counselors who can assist you in regaining
control of your financial situation by facing and resolving current
financial problems. If you would prefer, you may also call our partners
at Balance who will discuss your financial situation with you via
phone at 888-456-2227.
Thank you for your patience.
Sincerely,
Duke University Federal Credit Union