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ID Theft Protection

ID Theft Protection

How do I sign up for the ID Safe Choice program?

How does IDSafeChoice work?

Call 800.664.3828 and we will put you in touch with a certified recovery advocate. Your advocate will provide a complete assessment of the case and a specific plan for recovery within 72 hours, and will continue to work on your behalf until all suspect events have been resolved.

How much does IDSafeChoice cost?

$1.95 per month.

What is the advantage of having a personal recovery advocate?

Your recovery advocate designs your recovery plan based on comprehensive research. He or she works with the FTC, Social Security Administration, US Postal Service, Department of Motor Vehicles, and local and federal law enforcement, among others, to restore your identity to pre-event status. Having your own recovery advocate gives you peace of mind that in the event of fraud, a professional will take care of completing all the forms on your behalf, filing them and providing follow-up services.

Who is eligible?

All Michigan First Credit Union members are eligible.


Beyond standard overdraft practices and linking my checking account to another account, are there other ways to avoid overdrafts?

The easiest way to avoid overdrafts is to keep track of your transactions and balance. Alerts are a great way for you to stay informed about activity of your accounts. You can receive timely notifications via email or text messages to your cell phone alerting you if your account balance falls below a specified amount, if a direct deposit is made to your account, and many more. You may sign up for alerts by logging in to online banking.

Can I opt-out of the MoneyNow for all types of transactions?

Yes, just contact us or visit a branch to let us know.

How do I know when I use the overdraft limit?

You will receive an overdraft notice each time items are paid, including fees. You will need to subtract the total fees when balancing your checkbook.

How does MoneyNow work?

As long as you maintain your account in good standing, meaning you:

1.) Demonstrate responsible account management - such as making regular deposits to bring your account to a positive balance at least once every 30 days (including the payment of all credit union fees and charges)
2.) Avoid excessive overdrafts suggesting the use of MoneyNow as a continuing line of credit
3.) There are no legal orders, levies or liens against your account

We may approve your overdraft items within your current available MoneyNow limit as a courtesy, however, we are not required to approve overdrafts.

How quickly must I repay my MoneyNow?

As soon as possible is preferred, but by the latest it must be repaid within 30 calendar days.

If you’re not able to do so, you will receive a letter from Michigan First Credit Union informing you that your MoneyNow limit has been suspended and additional items will be returned.

How soon can I use my MoneyNow?

If you are a new member, you may be able to use MoneyNow 90 days after your account is opened.

If I opt-in for ATM/debit card overdrafts, does it guarantee the credit union will allow my account to become overdrawn?

The credit union cannot guarantee that any overdraft will be paid. MoneyNow is a discretionary service that is contingent upon your account meeting the program requirements and other conditions.

Is there a cost or fee to opt-in?

ATM/debit card MoneyNow opt-in is offered at no cost to members and can be setup to be used as a safety net if an unexpected situation occurs. Michigan First Credit Union will cover your transaction for a standard fee each time you overdraw your account. If you never need to use MoneyNow, there is no cost to you.

What are some other ways I can cover overdrafts at Michigan First Credit Union?

A couple other options we offer are:

      • Overdraft transfers from a savings account (as long as funds are available)
      • Overdraft transfers from a line a credit are subject to credit approval to establish.

What are the basic conditions and requirements for MoneyNow?

For MoneyNow consideration, your account is in “good standing” if you (1) make sufficient deposits to bring your account to a positive end-of-day balance at least once every 30 calendar days (including the payment of all bank fees and charges); (2) avoid excessive overdrafts suggesting the use of MoneyNow as a continuing line of credit; and (3) there are no legal orders, levies or liens against your account. Please note that the amount of the overdraft plus our paid item MoneyNow fee for each item will be deducted from your overdraft limit. If the item is returned, the returned item NSF fee will be deducted from your account. No interest will be charged on the overdraft balance.

What are the MoneyNow pre-determined limits for the accounts that meet the requirements?

This discretionary service is generally limited to a $500 overdraft (negative) balance for Premier Checking accounts. These limits include any fees imposed by the credit union.

What does my MoneyNow cost?

Purchase amount + Associated Overdraft Fee = MoneyNow cost

There are no additional costs outside of the fee per transaction when using overdraft.

What if I do not want to have MoneyNow on my checking account?

Just let us know and we’ll take it off your account.

What if I go beyond my MoneyNow limit?

Overdrafts above and beyond your established MoneyNow limit may result in checks or other items being returned to the payee. The returned item NSF fee will be charged per item and assessed to your account. An NSF notice will be sent to notify you of items paid and/or returned.

What is considered an ATM or everyday debit card purchase?

Examples of everyday purchases include ATM withdrawals and one-time debit card transactions such as those conducted at grocery stores, doctor’s offices, pharmacies, gas stations, restaurants, dry cleaners or other similar transactions. Recurring payments that you may have set up using your debit card to pay bills such as your mortgage, rent, or utilities are not considered everyday purchases and Michigan First may still allow reasonable overdrafts for these types of transactions as a part of our basic MoneyNow. If you do not want to keep MoneyNow, please contact us. You have the option to cancel at any time.

What is MoneyNow for ATM/debit cards?

If you opt-in and meet the basic requirements of MoneyNow, you may be able to use your ATM/debit card to create an occasional overdraft. Each individual overdraft transaction is charged a standard NSF fee, but the service can help you possibly avoid the aggravation of a declined purchase due to a slight error in your recordkeeping.

What is MoneyNow?

MoneyNow is a service that provides you a safety net up to an assigned overdraft limit and there is only a cost if you need to use it. The benefit of MoneyNow is that it protects you from expensive merchant NSF fees, can protect your credit rating, and save you the embarrassment of returned checks or declined transactions. If funds are not available, MoneyNow may be used, based on our discretion, without going over your overdraft limit. MoneyNow may be used on purchases made through your checking account.

What is the difference between MoneyNow and non-sufficient funds (NSF)?

MoneyNow is when the credit union covers the amount of the transaction that you do not have the funds to cover and allows your account to go negative temporarily. An NSF is when you do not have the funds to cover the full amount of the transaction, and we return the item unpaid.

What other options besides MoneyNow do I have?

Transfer from another account: If you have other accounts with us, you can authorize us to transfer the funds needed to cover your overdraft.

Line of Credit: A line of credit is available to cover overdrafts. This service requires you to complete an application and approval is based on your credit worthiness. The amount of your limit will vary.

What types of accounts are eligible for MoneyNow?

For Premier Checking accounts that meet the requirements. MoneyNow covers overdrafts created by check, paper draft, in-person (teller) and electronic transactions -- excluding everyday ATM & debit card purchases unless you give permission (opt-in) to allow overdrafts for these specific types of transactions.

Why does Michigan First Credit Union assess fees for MoneyNow and Non-Sufficient Funds?

All financial institutions have to pay for the services it provides to members such as check processing and ATM network fees. There is also risk and costs associated with allowing members to take their accounts negative. As a not-for-profit financial institution we constantly review our fees and cost of services to ensure all members are equally sharing in the cost of services we provide.


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