 |
|
||||||
 |
|
|
 |
 |
Brochures/Disclosures |
       |
|
Guide to Better Borrowing
Your application for membership indicates your agreement to conform to our Bylaws and the terms and conditions of the Account Agreement. You also authorize us to verify your employment and obtain periodic credit reports for legitimate business purposes such as preapproval of a loan. You also authorize us to provide information about your accounts with us to credit reporting agencies and other parties authorized by you. The words you, your, or yours are used in this Agreement to refer to the member and anyone authorized to use the account (e.g., a joint owner). The words we, our, ours, us and Credit Union, are used herein to refer to Family 1 Federal Credit Union.
Membership Requirements: The par value of a share is $50. To maintain active membership and receive member benefits, you must keep at least the value of one share in a Prime Share account. Any member causing a loss to the Credit Union becomes ineligible for membership services.
Change of Terms: We may modify the terms of this disclosure and agreement by delivering written notice to you at least 30 days prior to any modification adversely affecting your account, unless the change is required to preserve account security or covered by Regulation E or other law permitting a shorter notice period. Variable rate accounts are subject to changes as disclosed.
Nature of Dividends: Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period. Dividends are declared by our Board of Directors based on available earnings at the end of each dividend period.
Balance Computation Method: Dividends are calculated by using the average daily balance method that applies a periodic rate to the average daily balance in your account for the dividend period.
Accrual of Dividends: Dividends begin to accrue on the business day you deposit cash and non-cash items (e.g., checks) to your account if deposited before the close of business. However, where deposits are made at non-proprietary ATMs, dividends will begin to accrue upon verification of the deposit, usually 3 business days.
Lien on Shares: We retain a lien on any and all of your present or future shares, share draft or share certificate accounts. Should you default in any of your obligations to us, for any reason, we may, without notice, debit any of your accounts an amount sufficient to satisfy your obligations. We may apply the shares in any manner we wish to your outstanding financial obligations.
Bonuses: A separate disclosure will be provided for any bonus.
National Credit Union Share Insurance Fund: Member accounts in this Credit Union are federally insured by the National Credit Union Share Insurance Fund.
Bylaw Requirements: A member who fails to complete payment of one share within 1 month of his admission to membership or a member who reduces his share balance below the par value of one share and does not increase the balance to at least the par value of one share within 1 month of the reduction may be terminated from membership. Shares may be transferred only from one member to another by written instrument in such form as the Credit Union may prescribe. The Credit Union reserves the right, at any time, to require members to give, in writing, not more than 60 days notice of intention to withdraw the whole or any part of the amounts so paid in by them. Shares paid in under an accumulated payroll deduction plan may not be withdrawn until credited to a members account. No member may withdraw shareholdings that are pledged as required security on loans without the written approval of a loan officer, except to the extent that such shares exceed the members total primary and contingent liability to the Credit Union. No member may withdraw any shareholdings below the amount of his primary or contingent liability to the Credit Union if he is delinquent as a borrower, or if borrowers for whom he is a comaker, endorser or guarantor are delinquent, without a loan officer's written permission.
Special Rules: Shares are not transferable except on our records. We may endorse checks for the account owner(s) that we receive for investment in such account. You must keep us informed of your current address. Account statements will be mailed only to the address shown on Credit Union records. We reserve the right to close any account. All cash transactions are final. If you need cash in an amount greater than $1,000, we may need a 7-day advance notice. We are required by the Bank Secrecy Act to file reports with the U.S. Treasury and follow specific member identification procedures in cases of large currency transactions. If accepted, postdated checks will be treated as if they were written and dated on the date received. We are under no obligation to pay a check which is postdated or more than six months old.
You agree that we are authorized to receive and accept as original any document, transacting any and all business with you, with or without our signatures in a facsimile format. You agree to waive any rights you may have should we accept and act upon a document sent by facsimile. Further, you agree to indemnify and hold you harmless from any and all claims, costs or damages of any nature should you accept and use a document of ours sent by facsimile. Fees: All fees and charges that may be deducted from your account are disclosed on the Fee Schedule.
Transaction Limitations (Not Applicable to Checking Accounts): During any calendar month, you may not make more than 6 withdrawals or transfers by means of a preauthorized or automatic transfer or telephonic order of instruction. If you exceed these transfer limitations in any statement period, your account will be subject to closure by the Credit Union.
Deposit Requirements: You must have a Prime Share Account with a minimum of $50 on deposit in order to open any other account. If the Prime Share Account falls below the minimum requirement, your Prime Share and all sub accounts will be subject to closure by the Credit Union.
Cashiers and Tellers Checks: Cashiers and Tellers checks are drawn on our account and are therefore subject to special requirements under state law. In the event you have a dispute with your payee (the person to whom you've had the check made payable) about the product or service you are purchasing with this check, we cannot stop payment on the check. Therefore, before giving the check to your payee, please insure that you are satisfied with the product or service. In the event the check is lost, stolen or destroyed after being in your possession, you may file a claim with us and by state law must wait 91 days from the date of the check to be reimbursed. Alternatively, you may sign an affidavit that the check is lost, stolen or destroyed, but may be required to post a bond before being reimbursed.
Periodic Statements: Statements will be mailed to you quarterly unless you have a checking account, in which case, you will receive monthly statements. You may also view your account activity online by using Mr. OnLine or SpeedCU or through our Internet statement service: eStatements.
JOINT ACCOUNT (MULTIPLE PARTY) AGREEMENT
Any joint owner appearing on the Savings Account Signature Card and acting alone has the right to access funds in any sub account of the Prime Share Account (except IRA, other tax deferred accounts, or for which a separate signature card agreement indicating a different ownership may exist). The terms of the Savings Account Signature Card govern all sub accounts for the associated Prime Share Account, including, but not limited to, the certification of Tax Identification Number, beneficiary(ies), and the terms of a joint account with Right of Survivorship.
We may pay out funds or transact business pertaining to any account with the signature of any one of the account owners or the signature of any designated agent(s). In the event of conflicting demands for funds in any account, we may require the signatures of all joint owners. No joint owner may be removed from an account without the written authorization of all joint owners. Payment of any shares to a joint owner by us shall be valid and discharge us from any liability for such payment. Any joint owner may pledge all or any part of the shares in the account as collateral security to a loan or loans.
All joint owners are jointly and severally liable for repayment of the full amount of any overdrawn account balance, without regard to which owner may have caused the overdrawn balance and/or benefited from the proceeds of the overdraft or withdrawal. Shares may be taken from any share account from which any owner is entitled to withdraw to satisfy a negative balance in a Prime Share or sub account.
All sums added to a share account, and all dividends paid or credited thereon, will be held by the member or joint owner(s) in trust for any named beneficiary(ies), subject to the right of the joint owners, or any one of them, to revoke the same in whole or in part by and to the extent of the withdrawal of sums from the account.
Upon the death of the member (if no joint owner), or upon the death of the last surviving joint owner, the balance remaining in the account will be distributed by us to the beneficiary or, if there is more than one beneficiary, to the beneficiaries then living in equal shares. If there are no beneficiaries surviving, the balance remaining in the account will be distributed to the estate of the person whose death terminates the account.
PRIME SHARE ACCOUNT
Rate Information: The dividend rate and annual percentage yield (APY) may change every dividend period as determined by the Credit Union Board of Directors. Current dividend rates and APYs are available on the current Fee Schedule.
Compounding & Crediting: Dividends will be compounded monthly and credited monthly. For this account type, the dividend period is monthly. For example, the beginning date of the first dividend period of the calendar year is January 1 and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the last day of the dividend period, and for the example is January 31. If you close your share account before dividends are credited, you will not receive accrued dividends.
Minimum Balance Requirement: The minimum balance required to open this account is $50, representing the purchase of one share in the Credit Union.
SHARE ACCOUNT
Rate Information: See Prime Share Account Disclosure.
Compounding & Crediting: See Prime Share Account Disclosure.
Minimum Balance Requirements: The minimum balance required to open this account is $5 and you must maintain this minimum to avoid closure and transfer of funds to your Prime Share Account.
HOLIDAY CLUB ACCOUNT
Compounding & Crediting: Dividends will be credited annually on October 31. For this account type, the dividend period is annual. For example, the beginning date of the dividend period is November 1 and the ending date of such dividend period is October 31 of the following year. If you close your Holiday Club Account before dividends are credited, you will not receive accrued dividends.
Minimum Balance Requirements: There is no minimum balance requirement to open this account.
Transaction Limitations: This account will be closed and any remaining balance will be transferred to your Prime Share account if you withdraw from this account. In such instance, this account may not be reopened until the beginning of the next dividend period.
Distributions: After dividends are paid, the balance of this account will be transferred to your Checking account or, if you do not have a Checking account, to your Prime Share account.
MONEY MARKET ACCOUNT
Rate Information: See Prime Share Account Disclosure.
Compounding & Crediting: See Prime Share Account Disclosure.
Minimum Balance Requirements: The minimum balance required to open a Money Market Account and obtain the disclosed APY is $2,500. If the balance falls below the minimum opening balance, the Credit Union will close the account and transfer the remaining funds to your Prime Share Account.
Transaction Limitations: Three withdrawals or transfers may be made without charge per calendar month; thereafter a $10/transaction fee will be charged.
SHORT TERM PARKING ACCOUNT
Rate Information: See Prime Share Account Disclosure.
Compounding & Crediting: See Prime Share Account Disclosure.
Minimum Balance Requirements: The minimum balance required to open a Short Term Parking Account and obtain the disclosed APY is $10,000. If the balance falls below the minimum opening balance, the Credit Union will close the account and transfer the remaining funds to your Prime Share Account.
Transaction Limitations: Three withdrawals or transfers may be made without charge per calendar month; thereafter a $10/transaction fee will be charged.
CHECKING ACCOUNT
Compounding & Crediting: See Prime Share Account Disclosure.
Deposit Requirement: You must be a member in good standing (i.e., no delinquent loans).
Account Closure: Your checking account may be closed for excessive incidents of returned items, returned deposits or other reasons deemed appropriate by the Credit Union in its sole discretion. Your checking account may be closed if you are not a member in good standing with us. Checking accounts closed by us may only be reopened with the consent of the President or the President's designee.
Dormant Accounts: If your checking account becomes inactive for a period in excess of 90 days, 1) we may close the account and transfer funds to your Prime Share Account, 2) we may require you to maintain a minimum balance, or 3) we may impose fees in connection with the maintenance of your account.
Waiver of Rights: You waive any objection respecting any item shown on a Checking Account statement, including forged or altered checks, unless the Credit Union receives written objection within thirty-one days from the statement mailing date.
Account Conditions: Except as may be required by any overdraft protection plan or Check Guarantee plan requested and granted, we are under no obligation to pay a check that exceeds the balance in the Checking Account. We may, however, pay such a check and charge the amount of the resulting overdraft plus a service charge as stated on the Fee Schedule against any other share account from which the person who signed the check is entitled to withdraw shares. You authorize us to pay checks signed by any one of the account owners as designated on your Checking Account Agreement card. Only check blanks and other methods approved by us may be used to withdraw funds from Checking Accounts. Except for negligence, we are not liable for any action taken regarding the payment or nonpayment of a check.
Overdrafts: The overdraft transfer clause in your Checking Agreement permits a maximum of 6 preauthorized transfers from each overdraft share type designated by you to your Checking Account each month. Preauthorized transfers include transfers made by telephone, SpeedCU (our audio response unit), or by automatic overdraft transfer. Unlimited overdraft loan transfers may occur each month. Overdraft loan transfers will be made in $50 increments, up to the balance of your credit line. Overdraft transfers from shares will be made for the exact amount necessary, subject to the limits on such transfers imposed by Federal Reserve Board Regulation D.
Stop Payment Requests: You may request a stop payment order on any draft drawn on your account. You must represent and warrant that you have no information or belief that any holder of the subject check has attempted, or will attempt, to effect payment of it by electronic presentment, re-presentment or return procedures through an Automated Clearing House (ACH). Should any holder of the check attempt to obtain payment through ACH, we are unable to, and under no obligation to stop such payment. Should any holder of the check actually obtain payment through ACH, our sole obligation to you will be to use its reasonable efforts, with your full cooperation, to obtain a return of the payment, but without warranty.
To be binding, an order must be dated, signed, and describe the account and draft number and the exact amount. Subject to the conditions above, the stop payment will be effective if we receive the order in time for us to act upon the order and you state the number of the account, number of the draft, and its exact amount. You understand that the exact information is necessary for our computer to identify the draft. If you give us incorrect or incomplete information, we will not be responsible for failing to stop payment on the draft. If the stop payment order is not received in time for us to act upon the order, we will not be liable to you or to any other party for payment of the draft. If we recredit your account after paying a draft over a valid and timely stop payment order, you agree to sign a statement describing the dispute with the payee, to transfer to us all of your rights against the payee or other holders of the draft and to assist us in any legal action.
Although payment of an item may be stopped, you may remain liable to any item holder, including us. You agree to indemnify and hold us harmless from all costs, including attorneys fees, damages or claims related to our refusing payment of an item, including claims of any multiple party account owner, payee, or endorser in failing to stop payment of an item as a result of incorrect information provided by you.
Fees for stop payment orders are set forth on the Fee Schedule: A stop payment order is effective for six (6) months and may be renewed in writing from time to time. We do not have to notify you when a stop payment order expires.
SHARE CERTIFICATE ACCOUNT
Rate Information: Share Certificate Accounts are fixed rate accounts. The dividend rate and APY will not change for the term of the Certificate. The disclosed APY is based on the assumption that dividends will remain on deposit until maturity. Dividends will be paid to the certificate or an alternate account at the members option.
Compounding & Crediting: See Prime Share Account Disclosure.
Minimum Balance Requirements: Minimum balance requirements are disclosed on the current Fee Schedule.
Transaction Limitations: You may not make additional deposits into the certificate until the maturity date of the certificate.
Maturity Date: Your account will mature on the date shown on your account statement.
Early Withdrawal Penalties: Revocation of a certificate within the first 7 days immediately following any renewal date shall receive dividends at the rate then applicable, without penalty. Except as expressly provided below, any partial or full withdrawal of the principal amount prior to expiration of the term will result in a penalty. Withdrawals that reduce the principal to less than the stated minimum will result in cancellation of the entire Share Certificate Account as well. Our policy is generally that funds will be available to you on the same business day that we receive your deposit at a branch, including funds from electronic direct deposits. At that time, you can withdraw them in cash and/or we will use them to pay checks that you have written. Longer delays may apply (see below) and this policy does not apply in the case of deposits made at ATM machines (see below), so if you need the funds from a deposit right away you should ask us when the funds will be available. This policy will apply provided the deposit is received (for example by mail) at a branch by 2:00 p.m. on a business day we are open, or if you make the deposit in person to one of our employees. A business day is every day except Saturdays, Sundays and holidays. However, if you make a deposit after 2:00 p.m. or on a day we are not open, we will consider that the deposit was made on the next business day we are open. Remember that even after we have made funds available to you, you are still responsible for checks that you deposit that are returned to us unpaid and for any other problems involving the deposit. Policy For Longer Delays In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the fifth business day after the day of your deposit. However, the first $100 of your deposit will be available to you on the first business day after the day of your deposit. If we are not going to make all of the funds from your deposit available on the first business day, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your deposit. Additionally, funds you deposit by check may be delayed for a longer period under the following circumstances:
We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than 9 business days after the day of your deposit. Deposits to a New Account If you are a new member, the following special rules will apply during the first 30 days your account is open. Funds from electronic direct deposits will be available on the day we receive your deposit. Deposits of cash, wire transfers, and the first $5,000 of a days total deposits of travelers and federal, state and local government checks will be available on the day we receive your deposit if the deposit meets with certain conditions. For example, the checks must be payable to you. The excess over $5,000 will be available on the ninth business day after the day of your deposit. If your deposit of these checks (other than a US Treasury check) is not made in person to one of our employees, the first $5,000 will not be available until the second business day after the day of your deposit. Funds from all other check deposits will be available on the fifth business days after the day of your deposit. Holds on Other Funds If we cash a check for you that is drawn on another financial institution, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it. If we accept for deposit a check that is drawn on another financial institution, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited. Deposits at Automated Teller Machines: Funds from any deposits (cash or checks) made at automated teller machines (ATMs) we do not own or operate will not be available until the fifth (5th) business day after the day of your deposit. Funds from deposits made at our automated teller machines before 2:30 p.m. on a business day that we are open will be available to you on the following business day. However, if you make a deposit after 2:30 on a day we are not open, we will consider that the deposit was made on the next business day we are open. All ATMs that we own or operate are identified as our machines. INFORMATION ABOUT ELECTRONIC FUNDS TRANSFERS AND DISCLOSUREShttp://www.family1fcu.org; This Information and Disclosure is made in compliance with federal law regulating electronic funds transfer (EFT) services. Electronic funds transfers are electronically initiated transfers of funds involving an account at Family 1 Federal Credit Union. The following information and disclosures set out your and our rights and responsibilities. The words we, us, our and F1FCU means Family 1 Federal Credit Union and you and your refer to you the member. The abbreviation PIN or word code or password means a personal identification number. The information and disclosures provided in this document apply to our provision of electronic services including SpeedCU, our voice response system fund transfer service (accessed through the use of your password and account number), internet account access through our Mr. Online service, internet statement access eStatements, online bill payment through Family 1 FastPay, preauthorized credits and preauthorized payments, and the ATM and VISA Check/Debit Card services offered by F1FCU. We will notify you of any changes to the information herein as required by applicable law. SpeedCU and Mr. OnLine You may use SpeedCU and Mr. OnLine to perform the following on your account or a member account on which you are a joint owner:
In addition, Mr. OnLine may be used to:
Limitation on frequency of transfers for Mr. OnLine or SpeedCU You are limited to six (6) transfers from any one of your non-checking accounts to your loan or checking account in any one month. You may make an unlimited number of withdrawals from your checking account or from your available line of credit. Online statements through eStatements eStatements allow you to access your statements through the internet, using a 4-digit PIN, thereby enabling you to get your statement quickly and easily when you want it and also avoiding the risk that your statements will be lost in the mail or stolen from your mailbox. More information on the service and the application form can be found on our web site at http://www.family1fcu.org. ATM VISA Check/Debit Card Issuance of Card This section applies if you have requested, and been approved for, issuance of a Card that can be used to access funds in your checking or savings account (your Account). In order to obtain a Card and the services available in connection with the Card, you must open and maintain a regular share and checking account. Some members, including those with just a savings account, will only qualify for an ATM card and not the additionalVISA services described below. The Card is our proprietary automated teller machine card (ATM Card) enhanced with the VISA logo on the front. The Card is NOT a Credit Card; all payments for purchases, ATM transactions and cash advances are debited directly from your Account. For your protection, you will need to activate your Card before using it, following the instructions accompanying the Card. We will issue you a PIN that must be used with the Card for transactions that require the use of a PIN. The numbers are confidential and should not be disclosed to third parties or written on the Card. We recommend that you memorize the number and, after memorizing, destroy the notice disclosing your PIN. You may select your own PIN by bringing your Card into a branch during regular business hours and requesting assistance in choosing your customized PIN. Responsibility for Transactions You are responsible for all transactions that you make with the Card and you are responsible for safekeeping your PIN and password. You agree not to disclose or otherwise make available your PIN, Card or password to anyone not authorized to sign on your Account. If you do, you understand that you have given them access to your account(s) and you will be legally responsible for any transactions that person initiates. If the Account is a joint account, all transactions involving the Account are binding on all Account holders. Types of Transfers You may use the Card and PIN to:
You may also use the Card without the PIN to:
Some of these services may not be available at all terminals. The amount of the transaction will he charged to your Account on the date the transaction is posted to your Account. All Card transactions covered by this document are also subject to the terms and conditions of your individual account agreements with us. Changes to your account agreements may affect the use of the Card. Limitations on Amount and Frequency Purchases made above the floor limit of the merchant will require an authorization number from VISA. The following assume you have sufficient funds in your account:
Various financial institutions that participate in the various networks of which we are a member may haveauthorized limits different from the above limits at their respective ATMs and, accordingly, you will not be able to withdraw more than the cash limit at that particular ATM. Available funds in your Account, as may be indicated at the terminal, will not reflect (if applicable) any available authorized overdraft protection options on the Account. We reserve the right to place a hold on funds deposited to your Account. You may not withdraw funds in excess of the available funds from a deposit balance subject to such hold; however, we will provisionally credit your account at the time of posting, subject to the hold. Please review our Information about your Credit Union Deposits and our Funds Availability Policy which explains the circumstances when there may be adelay between the time a deposit is made and when it will be available for withdrawal. Fees and Charges All charges for use of EFT services are disclosed in our Fee Schedule, which is provided with this Document.
When you use an ATM not owned by us, you may be charged a fee by the ATM operator or any network used in the transaction (and you may be charged a fee for a balance enquiry). If a fee is charged, you will be informed before your transaction is accepted. At that point, you may cancel the transaction. If you decide to proceed, the fee will be automatically deducted from your Account. Right to receive Documentation of Transactions Depending upon the terminal, you will receive, or you may choose to receive, a receipt at the time you make a transaction at a terminal. If you do receive a receipt, retain the receipt to compare with your monthly statement. Additional ATM Cardholder Agreements The PIN and ATM card are the property of F1FCU and are subject to cancellation at any time without notice. You will deliver the card to F1FCU immediately upon demand. If you do not surrender the card(s) upon demand by F1FCU, your account will be subject to Account Block fees. The use of the PIN/Password and ATM card is subject to the terms on all accessible accounts, including the terms of your signature card and loan agreements. You agree not to withdraw funds in excess of the balance in your share account(s) or your line of credit account. You agree to indemnify and hold F1FCU harmless from any cost or damage that it sustains because of carrying out your written instructions in a reasonable manner. You authorize F1FCU to transfer funds from any of your available accounts, your line of credit account, and/or your VISA account, if necessary, to cover overdraftsto your account. Transfers from such loan accounts will be in $50 increments. Exchange Rate for Currency Conversion Services The exchange rate between the transaction currency and the billing currency used for processing international transactions is a rate selected by Visa from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate Visa itself receives, or the government-mandated rate in effect for the applicable central processing date, plus 2 percent. VISA Check/Debit Card Additional Disclosures Applicable to Family 1 Check/Debit Card (VISA Card) Your Card may be used by presenting your Card or providing your Card number to merchants or retailers who honor the Card as a VISA Card for the purchase of goods or services or to debit your Account through point of sale transactions for purchases and cash back (where permitted by the merchant) at certain merchant locations which honor the Card as a VISA Card. By using your Card with your PIN or sometimes just your Card or your Card number for the above transactions, you authorize us to make withdrawals from your Account to pay for goods and services you purchase or cash advances. When you do so, you use your Card as a debit card and your Card works much like a check you write on your account. Your Card is not a credit card, which means you may not defer payments of your VISA Card transactions. When you use your Card, you must follow the procedures established by the merchant or financial institution. You may be asked to sign a sales slip, withdrawal slip, or other document or just provide your Card number. Some merchants impose a fee for a VISA Card transaction. We are not liable if a merchant or financial institution does not accept your Card or Card number. We may debit or place a hold on your Account for a transaction either on the day it is presented to us forpayment, by electronic or other means, or on the day we receive notice of the transaction, whichever is earlier. If a merchant or other financial institution requests an authorization for a transaction you want to conduct, we may place a hold on your account. If the transaction posts to your account before the hold expires, the balance available to you in the account may be reduced by the amount of the hold and the amount of the transaction. You may not stop payment on a VISA Card transaction. If you have a dispute with a merchant, you may have to settle directly with the merchant. If a merchant misrepresents the quality, price, or warranty of goods or services you pay for using your Card, you indemnify us for all damages and liability that results from the misrepresentation. If you breach or fail to fulfill any of the terms of this agreement, you also indemnify us for all resulting damages and liability. You may make cash advances and purchases only to the extent that you have available funds in your Account plus available funds in your overdraft line of credit if applicable. For security reasons, there may be limits on the number of those transactions that may be authorized. You can receive a receipt from the merchant or financial institution at the time you make a purchase or obtain a cash advance or at the time you make a transfer from your Account. You should retain this receipt to compare with your statement from us. You will receive a monthly statement for the accounts you have accessed using the VISA Card, unless there are no transactions in a particular month, which will show the effective date that you initiated the transaction, the type of transaction and the amount of the transaction occurring in that statement. In any case, you will receive a quarterly statement. Limitations On Use You are prohibited from using your Family 1 Debit Card, PIN, or Card number for any illegal transactions that may include, without limitation, Internet gambling activities. You agree to indemnify the Credit Union for your use of the Card, PIN or Card number for illegal transactions. Refusal to Honor Card The Credit Union is not liable for the refusal or inability of any electronic terminal to honor the Card or to complete a withdrawal from your Account or for their retention of the Card. The Credit Union is also not responsible for the refusal of any merchant or financial institution to honor the Card or for their retention of the Card. Merchant Disputes For point-of-sale (POS) transactions DIRECTLY accessing a line of credit, the Credit Union is subject to claims and defenses (other than court claims) arising out of goods or services you purchase with the Card if you have made a good faith attempt but have been unable to obtain satisfaction from the merchant or service provider and (a) your purchase was made in response to an advertisement the Credit Union sent or participated in sending to you or (b) your purchase cost was more than $50 and was made in your state or within 100 miles of your home. Preauthorized Transfers You may arrange to have direct electronic deposits made to your accounts with us. If you have a checking account, you may also arrange to have preauthorized payments made to third parties from your checking account. Notification of preauthorized deposits If you have arranged to have preauthorized electronic deposits made to your account at least once every 60days from the same party, you may call us at (714) 577-8454 to find out if the deposit has been made, or SpeedCU at (800) 773-3328, or Mr. OnLine will give you your account balances and last deposits or withdrawals. Funds availability and payment processing Funds from preauthorized deposits will be available for your use at the beginning of the business day of the effective date of the transaction. Preauthorized payments will be deducted from the account you have designated on the effective date of the transaction. Initial authorization for preauthorized payments Preauthorized transfers from your account may be authorized only by a writing signed or similarly authenticated by you. Notice of varying amounts If your preauthorized payments vary in amounts, the party you are going to pay should tell you the amount of the payment 10 days before each payment. You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment or when the amount would fall outside certain limits that you set. Right to stop preauthorized payments If you want to stop a preauthorized payment, call us at (714) 577-8454, or write to us at F1FCU, P.O. Box 7722, Placentia, CA 92871-7722 in time for us to receive the stop payment order at least 3 business days before the scheduled date of transfer. If you call, you will also be required to confirm your order in writing within 14 days after your call. There will be a charge for each stop-payment order. Such stop payment order will only apply to that particular payment. Information we will need to stop the payment includes (i) your account number, (ii) the exact amount of the payment, (iii) the name of the person being paid, and (iv) the date you expect the payment order to be sent to us. Unless you give us all of this information 3 business days before the scheduled date of the payment, we will not be responsible if the item is paid. If you order us to stop one of these payments three (3) business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages. Should any holder of one of your checks attempt to obtain payment by electronic presentment, representment or return procedures through an Automated Clearing House (ACH), we will be unable to, and will have no obligation or duty to, stop such payment and will not be responsible if the item is paid. You may NOT stop payments on any ATM, POS or VISA Card transactions. Confidentiality
Business Days For the purposes of this Document, our business days are Monday through Thursday, 8:00 a.m. (10:00 a.m. on Wednesday) to 4:00 p.m. Friday, 7:30 a.m. to 5:30 p.m. Saturday, Sunday, and holidays are not included. Periodic Statement You will receive a monthly statement of your checking account that will include all activities conducted on your savings and sub-savings accounts. If you do not have a checking account, you will receive a quarterly statement of your share savings account. In those months in which you use SpeedCU, Mr. OnLine, or an ATM to access your Savings account(s), a monthly statement for one savings account will be provided when a transfer occurs between these savings account(s). Termination of services The PIN and Card are the property of F1FCU and you agree that we may terminate this document and your use of the ATM Card or any other service described herein at any time upon written notice. You or any other party to your account can terminate any of the electronic services provided for in this document by notifying us in writing. If you ask us to terminate your account or the use of any electronic service, you will remain liable for subsequent transactions performed to your account by you or any other parties authorized by you. Termination of this document will not effect your rights and responsibilities for transactions initiated before termination. Liability for failure to make transactions If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we shall be liable for resulting losses or damages. However. there are some exceptions. We will NOT be liable, for instance:
In case of Errors or Questions In case of errors or questions about your electronic transaction(s), telephone us Monday through Friday at: (714) 577-8454 or write to us at PO Box 7722, Placentia, CA 92871-7722 or e-mail us at cu@family1fcu.org. Contact us as soon as you can if you think your statement or receipt is wrong or ifyou need more information about a transaction noted on yourstatement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within 3 business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents we used in our investigation. Liability for unauthorized transactions NOTE: You agree to provide reasonable assistance to us in connection with efforts by us to recover any funds paid because of any unauthorized use, including, but not limited to, filingof a police report. We may require you to provide us with a written statement for any claims for unauthorized transactions. The following limitations may be exceeded to the extent allowable under law if we determine that you were negligent or fraudulent in the handling or safekeeping of your account, PIN, Card, or Password. SpeedCU, Mr. OnLine, ATM Card Tell us AT ONCE if you believe your SpeedCU or Mr. OnLine password or ATM Card or PIN have been lost or stolen or that someone has transferred or may transfer money from your account without your permission. Call (714) 577-8454, write to us at PO Box 7722, Placentia, CA 92871-7722, or email us at cu@family1fcu.org. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum line of credit limit). If you tell us within 2 business days, you can lose no more than $50 if someone used your Card or PIN or password without your permission. If you do NOT tell us within 2 business days after you learn of the loss or theft of your Card, PIN or password, and we can prove that we could have stopped someone from using your Card or PIN or password without your permission if you had told us, you could lose as much as $500.00. Also, if your statement shows a transfer that you did not make, or you receive an amount at an ATM that is different from your request, tell us at once. If you do not tell us within 60 days after the first statement was mailed to you, you may not get back any money lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or hospital stay) kept you from telling us, we will extend the time periods. If you disclose your PIN or password to anyone, you are responsible, at all times, for all transfers which that person initiates, even if the amount of the transfer exceeds what you authorized. Debit Card (VISA Check/Debit Card) Tell us AT ONCE if you believe your VISA Card has been lost or stolen or there has been an unauthorizedtransaction.Your liability for unauthorized use of your Card with the VISA logo when it is used as a VISA Card only and for transactions that take place on the VISA system will not exceed $0. For more information, or if you have any questions, stop by any branch or call us at (714) 577-8454. To report a lost or stolen card or report an unauthorized transaction, call 800-325-3678. THIS LIMITATION OF LIABILITY DOES NOT APPLY WHEN YOUR CARD IS USED FOR OTHER TYPES OF TRANSACTIONS, SUCH AS TO OBTAIN CASH FROM AN ATM (EXCEPT VISA CARD CASH ADVANCES). California Debit Card Cardholder Liability If you are a California resident and you have a debit card that maybe used without a PIN for electronic transactions for your consumer deposit account, then you have the following protections regarding unauthorized use. Tell us AT ONCE if you believe your debit card has been lost or stolen or if your statement reflects any unauthorized use. If your debit card is lost or stolen or your statement reflects any unauthorized use, you will be responsible for the lesser of $50.00 or the amount of the unauthorized use prior to your notifications to us of the loss or theft of your card. If you do not notify us of the loss or theft of your Card within 60 days of the date the statement was mailed to you and we can prove that we could have stopped someone from using your Card without permission if you had told us, then you will be responsible for the amount of unauthorized use of your Card up to the lesser of $500.00 or the amount of unauthorized use that occurs after the 60 day period mentioned above until the time you notify us of the loss or theft of your Card. If the unauthorized use does not involve the loss or theft of your Card and, if you do not notify us within 60 days after the statement was mailed to you, you may not get back any money lost after the 60 days if we can prove that we could have stopped someone from taking the money had you told us in time. The 60 day period may be extended for a reasonable period if the delayed notice was caused by extenuating circumstances outside your control. ATM Safety Precautions
To assure the continued privacy and confidentiality of your personal financial information, Family 1 observes these practices and procedures: Information That We May Collect: Information That We Disclose: Our Security Measures: Important Information About Procedures For Opening A New Account What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
|
[ Home | Applications | Enrollment | Loans | Checking/Savings | Card Services | Services | Online Services | Business Services | About Us | Rates | Sitemap ] |
||||
|
|
 |
||
|
Notices Terms, and Conditions |
 |
||
|
||||
