At Hawaii Community Federal Credit Union (HCFCU) we take pride in our consumer friendly policies and make every effort to promote industry best practices. As an example we do not add your Courtesy Pay limit to your actual account balance to entice you into overdrawing your account and incurring a fee. Instead we authorize all PIN based debit card authorizations and ATM withdrawals on real time balances to help you avoid fees when possible. We also do not structure the clearing of payables from your checking account to maximize the fees we may earn. Instead we clear payables from your checking account in the order that we receive them and only assess a fee if you become overdrawn.

While Hawaii Community Federal Credit Union does not encourage abuse of our Courtesy Program, inevitably members will occasionally overdraw their checking account. Recent revisions to Regulation E require financial institutions to acquire the consumer’s affirmative consent or OPT-IN before it may assess a fee for an overdrawn condition. Obviously, no financial institution would willingly allow an overdrawn condition without the imposition of a fee and so in essence, the revised Regulation E means you probably will not have the option to be overdrawn on the affected transactions unless you OPT-IN. The affected transactions are ATM withdrawals and one-time debit card transactions.

At Hawaii Community Federal Credit Union our current practice will not allow you to become overdrawn through an ATM withdrawal, because we only authorize transactions based on real time available balances. As an additional safeguard, one-time debit card transactions that are authorized via PIN are also authorized based on real time available balances (no Courtesy Pay limits added to actual balances).

Hawaii Community Federal Credit Union feels we are providing you our member owners with the best of both worlds. Reasonable protection against being overdrawn and the option to occasionally overdraw your account when the need arises.

If you would like to have your signature based debit card authorizations managed as they have been in the past, you need to OPT-IN with the attached disclosure. OPTing-OUT may limit your ability to make purchases with your debit card. OPTing-IN will cost you absolutely nothing unless you inadvertently exceed your account balance.

To OPT-IN, you can either:

At Hawaii Community Federal Credit Union (HCFCU) we take pride in our consumer friendly policies and make every effort to promote industry best practices. As an example, we do not charge a penalty interest rate for late payments, we do not charge annual fees for credit cards, we do not unjustifiably reduce your credit limit or increase your minimum payment. Instead, we focus on building upon our partnership by striving to maintain your trust.

The passage of the Credit Card Act will bring about mandatory changes with some unintended consequences.

The Credit Card Act while well intended will have the effect of making credit cards less available to students under the age of 21. The Act also poses the unintended effect of stranding consumers who may be traveling and have reached their credit limit or denying further credit to consumers who may be under employed but desperately need an extension of credit.

Your immediate action is required to minimize the probability that you or your loved ones will be affected negatively by the passage of the Credit Card Act. If you expect HCFCU to treat your future credit card transactions with the greatest flexibility, you must OPT-IN now. OPTing-IN will cost you absolutely nothing unless you inadvertently exceed your credit limit. OPTing-IN however will allow HCFCU to make a business decision when you need it most. If you elect to OPT-OUT we will have to reject all over credit limit transactions after February 22, 2010 irrespective of your circumstances. You will have the option to reapply for a higher credit limit and if you choose to reapply a credit decision will be made when we receive a completed application.

To OPT-IN, you can either: