Privilege Pay

Your protection against account overdraft

There are plenty of things to worry about these days but overdrawing your checking account or debit card doesn't have to be one of them!

Thanks to STCU's Privilege Pay, most members (see "Who's eligible" below) are avoiding these painful consequences of returned checks:

Expensive returned check fees charged by merchants and creditors.
Ornery phone calls from collectors.
Damaging reports sent to the major credit agency, where your credit rating could be lowered, costing you hundreds of dollars in higher interest payments on future loans.

How does it work?

If you are a member in good standing at STCU, the credit union will cover any checks and Automated Clearing House (ACH) payments that overdraw your personal checking or money market accounts up to $1,000, including fees. In addition, if you choose to opt-in for Privilege Pay on your STCU debit card, STCU will also cover debit card transactions against your checking account that overdraw your personal checking account.

With STCU's Privilege Pay, the merchant will never know that you were overdrawn. What a relief! For each check or other item that STCU pays, we charge a $29 overdraft fee.

STCU will notify you by mail any time Privilege Pay is activated. If you have a question about your account, you can call us or use STCU's online banking to view your account history.

Sounds easy. What's the catch?

There is no catch, just the personal responsibility that we would expect from any member of the credit union. Once Privilege Pay has been activated to cover an overdraft, it is your responsibility to correct any balance deficiency as quickly as possible. STCU expects you to make a deposit covering your overdraft and fees within 30 days. After that time, our normal collection process begins.

We trust that you agree that it's important to promptly meet your financial obligations to preserve your good standing with the credit union by preventing any collection activity. Thank you for your cooperation!

Which accounts are eligible?

All checking and money market accounts offered by STCU are eligible, provided the account owners meet the eligibility requirements listed below.

What types of payments are eligible for Privilege Pay?

Privilege Pay may be extended for checks presented at any STCU branch, checks clearing through the Federal Reserve System and payments clearing through Automated Clearing House (ACH). Privilege Pay can also be extended on debit card transactions provided you notify us in advance to opt-in for this service. Privilege Pay cannot be used to cover overdrafts that might results from an automatic transfer between accounts at STCU.

Who's eligible for Privilege Pay?

All STCU members who meet the following requirements are eligible:

Age 18 or older, with a checking or money market account.
Individual membership established for 90 days or more.
Have not caused a financial loss (charge off) to STCU.
Have no past due loan payments at STCU.
Are not currently enrolled in a debt management program.

What if I already have overdraft protection?

Your current overdraft protection arrangements will remain in place exactly as they are now. Privilege Pay will only be activated if there are insufficient funds available from your other accounts.

How do I sign up?

You don't need to sign up for Privilege Pay on your checks and Automated Clearinghouse (ACH) transactions; you're already covered! STCU provides this service automatically to our members.

However, if for some reason you decide to opt-out of Privilege Pay on your checks and ACH transactions, you can complete the "Option to waive or reinstate Privilege Pay" section of the STCU Privilege Pay Service Notice and Request web form for checks and ACH. Sign and mail the completed document to STCU, P.O. Box 1954, Spokane, WA 99210-1954, or drop it off at any of our branch locations.

We will not pay your overdrafts for STCU debit card transactions unless you tell us in advance that you want Privilege Pay for these transactions.

If you choose to opt-in to Privilege Pay for debit card transactions, please sign and complete the opt-in section of the STCU Privilege Pay Service Notice and Request web form for debit cards and return it to us.

Having overdraft coverage does not guarantee that we will pay your overdrafts. If we decide to pay an overdraft, you will be charged a $29 fee.

For additional information, please contact one of our member service representatives at any of our branch locations or call (509) 326-1954 in Washington; (208) 619-4000 in Idaho; or toll free at (800) 858-3750.

For an occasional mistake, STCU has got you covered with Privilege Pay for checks and ACH and Privilege Pay for your debit card!


Quick Facts

  • Avoid expensive NSF fees
  • Protect your credit rating
  • Peace of mind
  • Financial breathing room
  • Most members covered