Passport 
Privilege
Unforeseen circumstances happen to us all...and usually at just the wrong time! You make an honest mistake in your checkbook and it leaves you a "little short" to cover all your outstanding checks. That's why Texas Federal Credit Union offers Passport Privilege, an added member service that protects you from the embarrassment and expense of returned checks.
We're looking out for our members because... Life Happens
What is Passport Privilege?
Passport Privilege is a service that adds a measure of protection to your share draft/checking account. Passport Privilege may cover your insufficient funds share drafts/checks, up to your approved limit, for one low fee per covered overdraft transaction. That means, instead of returning an item to the merchant because of insufficient funds, the credit union may pay your item, saving you additional charges from the merchant collection companies, in addition to the credit union's insufficient fund fee. It saves you the embarrassment an inadvertent overdraft can cause. It also helps protect your credit rating.
How does Passport Privilege work?
Overdrafts on your share draft/checking account, up to a limit of $500.00 [including the amount of the overdrawn item(s) and the Passport Privilege charge(s)] may be honored by Texas Federal Credit Union. A $30.00 fee will be assessed for each item that draws your account negative. You then have up to 30 days to bring the account current, either through a direct deposit, transfer of funds, or a deposit at one of our branch offices.
What if I already have overdraft protection?
If you have established other overdraft protection methods, such as a line of credit or automatic transfer from your other accounts, we will always look to pay any overdraft by those other methods first before paying your overdraft utilizing Passport Privilege and imposing a $30.00 fee for each overdraft we pay. Speak to a member service representative about establishing a line of credit or other alternatives.
Do I have to apply for this service?
No. We require no applications or additional signatures. As long as you are a member in good standing which includes having an account with us for at least 60 days, you make regular deposits to that account, bring your account back to a positive balance regularly, and there are no legal orders against the account, your Passport Privilege remains activated.
How can I access Passport Privilege ?
Overdrafts may be paid utilizing your Passport Privilege funds up to the limits mentioned above for the following types of transactions:
- Checks
- Electronic transactions
Can the credit union stop my Passport Privilege protection?
Yes. Passport Privilege is stopped if you are not in good standing or if you tell us not to pay your overdrafts. There may be other reasons we need to stop Passport Privilege.
Passport Privilege is a way for us to provide a higher level of service to our members by helping protect your account and reputation when an inadvertent overdraft occurs.
Contact us for more information.
We are happy to review Passport Privilege and its features with you, along with giving you other options to add convenience and ease to your account. Please call us at 214.748.9556 ext. 172 or 148, or e-mail us.
