|AltaOne offers qualified members a revolving Line of Credit with a maximum limit for overdraft protection on member accounts.
- Limits - $300 - $3,000
- Refer to Consumer Loan Rate Sheet for current rates.
- Rates are determined by the member's credit score.
- Payment can be made monthly by mail, teller, automatic transfer, VoiceOne and MSC Online and Mobiliti.
- Interest is charged on cash advances from the date of the advance.
- Overdraft Lines of Credit are eligible for Debt Protection (Life, Disability & Involuntary Unemployment) at a low cost.
- Business Lines of credit are not eligible for Debt Protection.
- AltaOne offers competitive rates on our lines of credit.
Have you ever paid a bill and later realized your account did not have the funds to cover it? That's why AltaOne offers Courtesy Pay. Here's how this service works:
AltaOne offers Courtesy Pay to members who meet the following requirements:
General Qualification Requirements
- Entire account must be in good standing.
- For draft accounts only.
- Account must be personal, club or living trust member code.
- Account must be open at least 60 days.
- Accounts must not be negative 15 days prior to being opted in.
- Prior and continuing deposits of $500 minimum per month to the draft account.
- No loan delinquencies or defaults.
- No bankruptcy on record.
- Not subject to a levy.
- No reports to ChexSystems.
- No Payday loans.
- Draft second chances are not eligible
- Two-signature accounts
- Fiduciary accounts (living trust accounts are eligible)
Courtesy Pay Will Not Pay
- If there is a restriction on the draft.
- If the draft is more than $500 or $1,500 negative (depends upon the member’s qualification).
- If there are not enough funds remaining on the courtesy pay limit to pay an item in full.
- If the account has been opted out because it no longer meets the general requirements or if the member has requested and signed Courtesy Pay Opt-Out Form.
- Members will be opted out, without notice, if they are no longer eligible.
- AltaOne’s policy is to close a draft account when it has been negative for 30 consecutive days. If a deposit was made but the account ended that day with a negative balance, it is counted as a negative day.
- AltaOne is not obligated to cover items with Courtesy Pay, even if eligible, and may decide not to pay an item at our discretion.
- Members will be opted out for loss of contact (bad address or disconnected phone).