Managing Your Account: Understanding Fees and Protections
In a perfect world, no one would ever overdraw their account. Fairy tales where no financial missteps occur and everyone has all the money they need would make the world a completely different place.
We recognize that small mistakes happen —we’re here to help you navigate those moments with clarity and support.
What I Should Know
All details regarding account, loan, and service fees can be found in our official fee schedule.
Ashland Credit Union strives to be transparent about all account costs so you can make informed decisions about your finances.
- ACU will not charge you more than the maximum daily amount outlined in our fee schedule.
- Items covered include checks, ACH payments, automatic bill payments, and preauthorized debit transactions.
- Items not covered (unless you provide consent) include ATM and everyday debit card transactions.
Loans and Late Fees
Each loan with ACU includes a 15-day grace period after the payment due date.
If a payment is received more than 15 days late, a late fee will be assessed according to our current fee schedule.
To avoid late charges, we recommend setting up automatic payments or payment reminders through online banking.
Courtesy Pay
What happens if my account balance goes negative?
Mistakes happen — and that’s where ACU’s Courtesy Pay can help.
Courtesy Pay temporarily covers transactions that would otherwise decline due to insufficient funds, helping you avoid extra charges from merchants or billers. It’s a safety net for those small, unexpected miscalculations.
- ACU covers most negative balances to keep your account current.
- A fee is assessed for each transaction we pay on your behalf.
- Members who meet qualification guidelines are automatically enrolled in Courtesy Pay when they open a checking account.
Transfers to Cover a Negative Balance
This feature automatically transfers available funds from your linked savings or premium savings account to cover a shortage in your checking account.
- A small transfer fee applies for each use of this service.
- Funds must be available in the linked account for a transfer to occur.
- You must opt in to activate this feature.
Tips to Stay on Track
- Keep a simple record of every transaction.
- Review your account online frequently to catch surprises early.
- Check your automatic and scheduled payments regularly.
These small steps can help you avoid unnecessary fees and keep your finances on the right path.
And remember — ACU is always here to help. If you’re ever uncertain or need guidance, reach out to us for personalized financial advice and solutions.
Need assistance? Contact a Member Representative at 606-329-5489 or 1-800-245-8112.