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Are overdrafts causing your Credit Union members unnecessary and preventable costs and embarrassment? Why not offer them the protection and defense they need from the dreaded overdraft with Sharetec’s Courtesy Pay.

Sharetec’s Courtesy Pay service offers members either Flat Rate or Tiered Rate protection, depending on which features best suit their needs. With Flat Rate Courtesy Pay, your member’s overdrafts will be covered up to an approved limit, with a flat fee assessed per transaction. The Credit Union pays the member’s check instead of returning it due to insufficient funds, which saves the member both merchant charges and your Credit Union’s insufficient funds fee. This option also saves your members the embarrassment that unintentional overdrawn checks can cause, while helping to safeguard their credit rating.

Unlike its flat rate predecessor, Tiered Rate Courtesy Pay offers a “tiered” approach that provides Credit Unions with more flexibility in assisting their members with overdrafts. It allows for a granular, risk-based fee structure by which members may initially receive free or discounted overdrafts, with a gradual increase in fees as their usage of the service grows. Therefore, members who incur frequent overdrafts and pose a higher risk will pay a higher fee than those members who encounter the occasional overdraft. Many Credit Unions have reported a substantial increase in their monthly income with the Tiered Rate Courtesy Pay structure. And another benefit is that a substantial percentage of your members will actually pay lower fees, helping them to save money in the long run.