Are there more affordable alternatives to Privilege Pay?
Yes. HVFCU offers more affordable alternatives to Privilege Pay. These options include a Readi-Cash Line of Credit, a home equity line of credit, or overdraft protection from an HVFCU savings account. Overdraft protection from a line of credit is according to the loan terms previously disclosed, up to your available credit limit. (Please note: if you have both a Readi-cash Line of Credit and a home equity line of credit, only one line may be used for overdraft protection in conjunction with a savings account.) If you would like to set up overdraft protection from your home equity line of credit, please complete and return our Home Equity Line of Credit Overdraft Coverage Agreement. There is no fee for overdraft protection from a savings account. Please remember that federal regulation requires HVFCU to limit withdrawal transactions on savings accounts (Reg D). A complete description of “Regulation D”: is included in the Truth-in-Savings Standard Disclosure and Account Agreement.
