Checking Accounts

Checking Hero

Manage your daily finances with no monthly service charge.

When you couple your Hudson Valley Federal Credit Union checking account with free services like a Visa® Debit Card, Internet Banking, Mobile Banking, Bill Pay, eStatements, Visa Alerts, and CUAlerts you’ve got everything you need to manage your finances efficiently and effectively.

Featured Rates

Checking .05%
Annual Percentage Yield

Overdraft Protection

Overdraft protection is meant to offer coverage if you unintentionally draw more from your checking than is available, and is not intended to be a recurring circumstance. HVFCU offers two optional overdraft protection programs-Overdraft Protection and Privilege Pay 1. Overdrafts from your checking may result in fees. Non-Sufficient Funds (NSFs) are caused when there are not enough funds available in your account or through overdraft protection sources to cover a payment. The best way to reduce or even eliminate the number of times you pay overdraft or NSF fees is to avoid overdrawing your checking account.

Overdraft Notice

Please refer to our Overdraft Notice for additional information about the circumstances when HVFCU will pay overdrafts in your checking account and charge you a fee.

Helpful Hints

  • Keep your checking account in good standing by making sure there is enough money available in your account to cover your transactions. This includes maintaining an up-to-date check register that always reflects all credits (deposits of money) and debits (withdrawals out of your account) to ensure you are fully aware of your available balance. It’s important that you keep track of your account balance because our records may not always reflect all of your pending debits or credits. Learn more about the difference between your actual balance and your available balance.
  • Arrange for Privilege Pay Overdraft Protection, another courtesy service that will pay items when you unintentionally do not have enough funds in either your checking account or other overdraft sources offered through HVFCU. A fee is assessed for each Privilege Pay item paid (total items up to a maximum limit of $500 including Privilege Pay item fees) as set forth in the Fee Schedule.

You have 30 days to repay the negative balance however, we will withdraw funds from other accounts as early as the following day if funds are available to bring the negative balance current. If your account remains negative for more than 30 days, Privilege Pay will be suspended or revoked until your account returns to good standing.

Opt-in: Privilege Pay may pay overdrafts caused by a check, ACH debit, Visa Debit Card, or ATM transaction. However, in order for Privilege Pay to cover Visa Debit Card and ATM card transactions, you will need to register (opt-in) for overdraft protection services. Call the Contact Center at 845.463.3011 / 800.468.3011, or stop by any branch to discuss this protection. You will also need to complete our Overdraft Protection Opt-in Form.

Opt-out: To cancel (opt-out of) the Privilege Pay service on your checking account, contact us by phone at 845.463.3011 / 800.468.3011, Monday-Friday 8 am – 7 pm and Saturday 9 am – 5 pm, at any branch, by using our secure email form, or by mailing your Non-Sufficient Funds & Privilege Pay Overdrafts request to:

PO Box 1071
Poughkeepsie, NY 12602-1071

Privilege Pay FAQs

What accounts qualify for Privilege Pay?

Personal checking accounts qualify for Privilege Pay.

If I have multiple checking accounts does each account have individual Privilege Pay limits?

Yes. Each account has a $500 maximum limit, including Privilege Pay item fees, as set forth in our fee schedule.

Am I notified if Privilege Pay is used?

Yes. Each time your account goes into overdrawn status, you’ll receive an overdraft notice informing you of the overdraft condition and the fee(s) assessed.

What happens if I go beyond the $500 Privilege Pay limit?

If you go beyond the $500 limit, items are returned for Non-Sufficient Funds and your account is charged a Privilege Pay item fee of $30.00.

How quickly must I repay the negative balance due to Privilege Pay?

You have 30 days to repay the negative balance, however we will sweep other accounts as soon as the next day if there are funds available to bring the negative balance current. If your account remains negative for more than 30 days, Privilege Pay will be suspended or revoked until your account returns to good standing.

Is Privilege Pay used if I exceed the maximum number of Regulation D transactions?

Yes. If you exceed the maximum number (six) of transfers due to Regulation D and all other overdraft sources have been exhausted, the Privilege Pay feature will be used.

What if I don’t want Privilege Pay on my checking account(s)?

You can opt-out by calling us at 845.463.3011, visiting any of our branches, emailing us on our secure form, or mailing your request.

How do I know if I qualify for Privilege Pay?

Effective April 1, 2016, new members will become eligible for Privilege Pay after 30 days provided they meet other standard qualifications. A notification letter is sent to you when you initially qualify for Privilege Pay. HVFCU does not guarantee payment of any overdrawn item. The credit union retains the right to refuse payment of an overdraft at any time, even though HVFCU may have previously paid overdraft requests.

1 Privilege Pay is not available on Business, Estate, Club, Custodial, Infant Compromise, Memorial, or Guardian / Conservator accounts.

2 Transactions from a savings account are subject to a fee and Regulation D withdrawal limitations and our Truth in Savings Disclosure and Account Agreement.

© 2016 Hudson Valley Federal Credit Union

PO Box 1071, Poughkeepsie, NY 12602-1071
ph: 845.463.3011 / 800.468.3011

Routing Number : 221979363
HVFCU Prepaid Visa Routing Number: click here

Unauthorized Access Warning – Access to Internet Banking is restricted to authorized HVFCU members only.