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TERMS AND CONDITIONS
OF YOUR ACCOUNT
IMPORTANT ACCOUNT OPENING INFORMATION -
Federal law requires us to obtain sufficient information to verify
your identity. You may be asked several questions and to provide one
or more forms of identification to fulfill this requirement. In some
instances we may use outside sources to confirm the information. The
information you provide is protected by our privacy policy and
federal law.
AGREEMENT -
This document, along with any other documents we give you pertaining
to your account(s), is a contract that establishes rules which
control your account(s) with us. Please read this carefully. If you
sign the signature card or open or continue to have your account
with us, you agree to these rules. You will receive a separate
schedule of rates, qualifying balances, and fees if they are not
included in this document. If you have any questions, please call
us.
This agreement is subject to applicable federal laws and the laws of
the state of California (except to the extent that this agreement
can and does vary such rules or laws). The body of state and federal
law that governs our relationship with you, however, is too large
and complex to be reproduced here. The purpose of this document is
to:
(1) summarize some laws that apply to common transactions;
(2) establish rules to cover transactions or events which the law
does not regulate;
(3) establish rules for certain transactions or events which the law
regulates but permits variation by agreement; and
(4) give you disclosures of some of our policies to which you may be
entitled or in which you may be interested.
If any provision of this document is found to be unenforceable
according to its terms, all remaining provisions will continue in
full force and effect. We may permit some variations from our
standard agreement, but we must agree to any variation in writing
either on the signature card for your account or in some other
document.
As used in this document the words “we,” “our,” and “us” mean the
financial institution and the words “you” and “your” mean the
account holder(s) and anyone else with the authority to deposit,
withdraw, or exercise control over the funds in the account. The
headings in this document are for convenience or reference only and
will not govern the interpretation of the provisions. Unless it
would be inconsistent to do so, words and phrases used in this
document should be construed so the singular includes the plural and
the plural includes the singular.
BYLAWS -
Our bylaws, which we may amend from time to time, establish basic
rules about our credit union policies and operations which affect
your account and membership. You may obtain a copy of the bylaws on
request. Our right to require you to give us notice of your
intention to withdraw funds from your account is described in the
bylaws. Unless we have agreed otherwise, you are not entitled to
receive any original item after it is paid, although you may request
that we send you an item(s) or a copy of an item(s). Dividends are
based on current earnings and available earnings of the credit
union, after providing for required reserves.
LIABILITY -
You agree, for yourself (and the person or entity you represent if
you sign as a representative of another) to the terms of this
account and the schedule of charges. You authorize us to deduct
these charges directly from the account balance as accrued. You will
pay any additional reasonable charges for services you request which
are not covered by this agreement.
Each of you also agrees to be jointly and severally (individually)
liable for any account shortage resulting from charges or
overdrafts, whether caused by you or another with access to this
account. This liability is due immediately, and can be deducted
directly from the account balance whenever sufficient funds are
available. You have no right to defer payment of this liability, and
you are liable regardless of whether you signed the item or
benefited from the charge or overdraft. This includes liability for
our costs to collect the deficit including, to the extent permitted
by law, our reasonable attorneys’ fees.
DEPOSITS -
We will give only provisional credit until collection is final for
any items, other than cash, we accept for deposit (including items
drawn “on us”). Actual credit for deposits of, or payable in,
foreign currency will be at the exchange rate in effect on final
collection in U.S. dollars. We are not responsible for transactions
by mail or outside depository until we actually record them. We will
treat and record all transactions received after our “daily cutoff
time” on a business day we are open, or received on a day we are not
open for business, as if initiated on the next following business
day that we are open.
WITHDRAWALS -
Unless clearly indicated otherwise on the account records, any of
you, acting alone, who signs in the space designated for signatures
on the signature card may withdraw or transfer all or any part of
the account balance at any time. Each of you (until we receive
written notice to the contrary) authorizes each other person signing
the signature card to indorse any item payable to you or your order
for deposit to this account or any other transaction with us. We may
charge your account for a check even though payment was made before
the date of the check, unless we have received written notice of the
postdating in time to have a reasonable opportunity to act. We may
refuse any withdrawal or transfer request which you attempt on forms
not approved by us, by any method we do not specifically permit,
which is greater in number than the frequency permitted, or which is
for an amount greater or less than any withdrawal limitations. Even
if we honor a nonconforming request, we may treat continued abuse of
the stated limitations (if any) as your act of closing the account.
We will use the date the transaction is completed by us (as opposed
to the date you initiate it) to apply the frequency limitations. The
fact that we may honor withdrawal requests that overdraw the
available account balance does not obligate us to do so later. See
the funds availability policy disclosure for information about when
you can withdraw funds you deposit. For those accounts for which our
funds availability policy disclosure does not apply, you can ask us
when you make a deposit when those funds will be available for
withdrawal.
OWNERSHIP OF ACCOUNT AND BENEFICIARY DESIGNATION -
These rules apply to this account depending on the form of ownership
and beneficiary designation, if any, specified on the account
records. We reserve the right to refuse some forms of ownership on
any or all of our accounts. We make no representations as to the
appropriateness or effect of the ownership and beneficiary
designations, except as they determine to whom we pay the account
funds. As used in this agreement “party” means a person who, by the
terms of the account, has a present right, subject to request, to
payment from a multiple-party account other than as an agent.
Individual Account -
is an account in the name of one person.
Joint Account -
This account or certificate is owned by the named parties. Upon the
death of any of them, ownership passes to the survivor(s).
Joint Account of Husband and Wife with Right of Survivorship -
This account or certificate is owned by the named parties, who are
husband and wife, and is presumed to be their community property.
Upon the death of either of them, ownership passes to the survivor.
Community Property Account of Husband and Wife -
This account or certificate is the community property of the named
parties who are husband and wife. The ownership during lifetime and
after the death of a spouse is determined by the law applicable to
community property generally and may be affected by a will.
Tenancy in Common Account -
This account or certificate is owned by the named parties as tenants
in common. Upon the death of any party, the ownership interest of
that party passes to the named pay-on-death payee(s) of that party
or, if none, to the estate of that party.
P.O.D. Account with Single Party -
This account or certificate is owned by the named party. Upon the
death of that party, ownership passes to the named pay-on-death
payee(s).
P.O.D. Account with Multiple Parties -
This account or certificate is owned by the named parties. Upon the
death of any of them, ownership passes to the survivor(s). Upon the
death of all of them, ownership passes to the named pay-on-death
payee(s).
Totten Trust Account - (subject to this form) -
If two or more of you create this account, you own the account
jointly with survivorship. Beneficiaries cannot withdraw unless: (1)
all persons creating the account die, and (2) the beneficiary is
then living. If two or more beneficiaries are named and survive the
death of all persons creating the account, such beneficiaries will
own this account in equal shares, without right of survivorship. The
person(s) creating either of these account types reserves the right
to: (1) change beneficiaries, (2) change account types, and (3)
withdraw all or part of the account funds at any time.
Trust Account Subject to Separate Agreement -
We will abide by the terms of any separate agreement which clearly
pertains to this account and which you file with us. Any additional
consistent terms stated on this form will also apply.
STOP PAYMENTS -
You must make any stop-payment order in the manner required by law
and we must receive it in time to give us a reasonable opportunity
to act on it before our stop-payment cutoff time. To be effective,
your stop-payment order must precisely identify the number, date and
amount of the item, and the payee.
You may stop payment on any item drawn on your account whether you
sign the item or not, if you have an equal or greater right to
withdraw from this account than the person who signed the item. A
release of the stop-payment request may be made only by the person
who initiated the stop-payment order.
Our stop-payment cutoff time is one hour after the opening of the
next banking day after the banking day on which we receive the item.
Additional limitations on our obligation to stop payment are
provided by law (e.g., we paid the item in cash or we certified the
item).
TELEPHONE TRANSFERS -
A telephone transfer of funds from this account to another account
with us, if otherwise arranged for or permitted, may be made by the
same persons and under the same conditions generally applicable to
withdrawals made in writing. Unless a different limitation is
disclosed in writing, we restrict the number of transfers from a
savings account to another account or to third parties, to a maximum
of six per month (less the number of “preauthorized transfers”
during the month). Other account transfer restrictions may be
described elsewhere.
AMENDMENTS AND TERMINATION -
We may change our bylaws and any term of this agreement. Rules
governing changes in rates are provided separately in the
Truth-in-Savings disclosure or in another document. For other
changes we will give you reasonable notice in writing or by any
other method permitted by law. We may close this account if your
membership in the credit union terminates, or by giving reasonable
notice to you and tender of the account balance personally or by
mail. Items presented for payment after the account is closed may be
dishonored. When you close your account, you are responsible for
leaving enough money in the account to cover any outstanding items
and charges to be paid from the account. Reasonable notice depends
on the circumstances, and in some cases such as when we cannot
verify your identity or we suspect fraud, it might be reasonable for
us to give you notice after the change or account closure becomes
effective. For instance, if we suspect fraudulent activity with
respect to your account, we might immediately freeze or close your
account and then give you notice. At our option, we may suspend your
rights to member services if you violate the terms of this
agreement. You must keep us informed of your current address at all
times. Notice from us to any one of you is notice to all of you. If
we have notified you of a change in any term of your account and you
continue to have your account after the effective date of the
change, you have agreed to the new term(s).
STATEMENTS -
You must examine your statement of account with “reasonable
promptness.” If you discover (or reasonably should have discovered)
any unauthorized signatures or alterations, you must promptly notify
us of the relevant facts. As between you and us, if you fail to do
either of these duties, you will have to either share the loss with
us, or bear the loss entirely yourself (depending on whether we used
ordinary care and, if not, whether we contributed to the loss). The
loss could be not only with respect to items on the statement but
other items with unauthorized signatures or alterations by the same
wrongdoer.
You agree that the time you have to examine your statement and
report to us will depend on the circumstances, but will not, in any
circumstance, exceed a total of 30 days from when the statement is
first sent or made available to you.
You further agree that if you fail to report any unauthorized
signatures, alterations, forgeries, or any other errors in your
account within 60 days of when we first send or make the statement
available, you cannot assert a claim against us on any items in that
statement, and as between you and us the loss will be entirely
yours. This 60-day limitation is without regard to whether we used
ordinary care. The limitation in this paragraph is in addition to
that contained in the first paragraph of this section.
ACCOUNT TRANSFER -
This account may not be transferred or assigned without our prior
written consent.
DIRECT DEPOSITS -
If, in connection with a direct deposit plan, we deposit any amount
in an account which should have been returned to the Federal
Government for any reason, you authorize us to deduct the amount of
our liability to the Federal Government from the account or from any
other account you have with us, without prior notice and at any
time, except as prohibited by law. We may also use any other legal
remedy to recover the amount of our liability.
TEMPORARY ACCOUNT AGREEMENT -
If this option is selected, this is a temporary account agreement.
Each person who signs in the space designated for signatures on the
signature card (except as indicated to the contrary) may transact
business on this account. However, we may at some time in the future
restrict or prohibit further use of this account if you fail to
comply with the requirements we have imposed within a reasonable
time.
RIGHT TO REPAYMENT OF INDEBTEDNESS -
You each agree that we may (without prior notice and when permitted
by law) charge against and deduct from this account any due and
payable debt owed to us now or in the future, by any of you having
the right of withdrawal, to the extent of such persons’ or legal
entity’s right to withdraw. If the debt arises from a note, “any due
and payable debt” includes the total amount of which we are entitled
to demand payment under the terms of the note at the time we charge
the account, including any balance the due date for which we
properly accelerate under the note.
In addition to these contract rights, we may also have rights under
a “statutory lien.” A “lien” on property is a creditor’s right to
obtain ownership of the property in the event a debtor defaults on a
debt. A “statutory lien” is one created by federal or state statute.
If federal or state law provides us with a statutory lien, then we
are authorized to apply, without prior notice, your shares and
dividends to any debt you owe us, in accord with the statutory lien.
Neither our contract rights nor rights under a statutory lien apply
to this account if: (a) it is an Individual Retirement Account or
other tax-deferred retirement account, or (b) the debt is created by
a consumer credit transaction under a credit card plan (but this
does not affect our rights under any consensual security interest),
or (c) the debtor’s right of withdrawal arises only in a
representative capacity. We will not be liable for the dishonor of
any check or draft when the dishonor occurs because we charge and
deduct an amount you owe us from your account. You agree to hold us
harmless from any claim arising as a result of our exercise of our
right to repayment.
AUTHORIZED SIGNER (Individual Accounts only) -
A single individual is the owner. The authorized signer is merely
designated to conduct transactions on the owner’s behalf. We
undertake no obligation to monitor transactions to determine that
they are on the owner’s behalf.
RESTRICTIVE LEGENDS -
We are not required to honor any restrictive legend on checks you
write unless we have agreed in writing to the restriction. Examples
of restrictive legends are “must be presented within 90 days” or
“not valid for more than $1,000.00.”
PAYMENT ORDER OF ITEMS -
The law permits us to pay items (such as checks or drafts) drawn on
your account in any order. To assist you in handling your account
with us, we are providing you with the following information
regarding how we process the items that you write. When processing
items drawn on your account, our policy is to pay them in the order
that they are received. The order in which items are paid is
important if there is not enough money in your account to pay all of
the items that are presented. There is no policy that is favorable
in every instance. If the smallest items are paid first, you may
have fewer NSF or overdraft fees, but the largest, and perhaps more
important items (such as rent or mortgage payments) might not be
paid. If an item is presented without sufficient funds in your
account to pay it, we may, at our discretion, pay the item (creating
an overdraft) or return the item (NSF). The amounts of the overdraft
and NSF fees are disclosed elsewhere. By paying items in the order
that we receive them, we think our policy attains a reasonable
balance between minimizing additional cost to you and paying your
more important items. We encourage you to make careful records and
practice good account management. This will help you to avoid
writing checks or drafts without sufficient funds and incurring the
resulting fees.
PLEDGES -
Unless we agree otherwise in writing, each owner of this account may
pledge all or any part of the funds in it for any purpose to which
we agree. Any pledge of this account must first be satisfied before
the rights of any surviving account owner or account beneficiary
become effective.
ACH AND WIRE TRANSFERS -
This agreement is subject to Article 4A of the Uniform Commercial
Code - Fund Transfers as adopted in the state in which you have your
account with us. If you originate a fund transfer for which Fedwire
is used, and you identify by name and number a beneficiary financial
institution, an intermediary financial institution or a beneficiary,
we and every receiving or beneficiary financial institution may rely
on the identifying number to make payment. We may rely on the number
even if it identifies a financial institution, person or account
other than the one named. You agree to be bound by automated
clearing house association rules. These rules provide, among other
things, that payments made to you, or originated by you, are
provisional until final settlement is made through a Federal Reserve
Bank or payment is otherwise made as provided in Article 4A-403(a)
of the Uniform Commercial Code. If we do not receive such payment,
we are entitled to a refund from you in the amount credited to your
account and the party originating such payment will not be
considered to have paid the amount so credited. If we receive a
credit to an account you have with us by wire or ACH, we are not
required to give you any notice of the payment order or credit.
FICTITIOUS BUSINESS NAME ACCOUNTS -
If the name in which the account is held is fictitious, each account
holder represents that one or more of the account holders have the
right to use that name and have fulfilled all legal requirements for
using and or doing business under that name.
FACSIMILE SIGNATURES -
You authorize us, at any time, to charge you for all checks, drafts,
or other orders, for the payment of money, that are drawn on us
regardless of by whom or by what means the facsimile signature(s)
may have been affixed so long as they resemble the facsimile
signature specimen filed with us, and contain the required number of
signatures for this purpose.
—————————————
ELECTRONIC FUND TRANSFERS
YOUR RIGHTS AND RESPONSIBILITIES
Indicated below are types of Electronic Fund Transfers we are
capable of handling, some of which may not apply to your account.
Please read this disclosure carefully because it tells you your
rights and obligations for the transactions listed. You should keep
this notice for future reference.
Electronic Funds Transfers Initiated By Third Parties.
You may authorize
a third party to initiate electronic funds transfers between your
account and the third party’s account. These transfers to make or
receive payment may be one-time occurrences or may recur as directed
by you. These transfers may use the Automated Clearinghouse (ACH) or
other payments network. Your authorization to the third party to
make these transfers can occur in a number of ways. In some cases,
your authorization can occur when the merchant posts a sign
informing you of their policy. In all cases, the transaction will
require you to provide the third party with your account number and
credit union information. This information can be found on your
check or draft as well as on a deposit or withdrawal slip. Thus, you
should only provide your credit union and account information
(whether over the phone, the Internet, or via some other method) to
trusted third parties whom you have authorized to initiate these
electronic funds transfers. Examples of these transfers include, but
are not limited to:
•
Preauthorized credits. You may make arrangements for certain
direct deposits to be accepted into your share draft or share
savings account(s).
•
Preauthorized payments. You may make arrangements to pay certain
recurring bills from your share draft or share savings account(s).
•
Electronic check or draft conversion. You may provide your check
or draft to a merchant or service provider who will scan the check
or draft for the encoded credit union and account information. The
merchant or service provider will then use this information to
convert the transaction into an electronic funds transfer. This may
occur at the point of purchase, or when you provide your check or
draft by other means such as by mail or drop box.
•
Electronic returned check or draft charge. Some merchants or
service providers will initiate an electronic funds transfer to
collect a charge in the event a check or draft is returned for
insufficient funds.
P.E.T. Telephone Transfers - types of transfers -
You may access your account by telephone 24 hours a day, seven days
a week, using your personal identification number and account
numbers, to:
•
transfer funds from share draft to share draft
•
transfer funds from share draft to share savings
•
transfer funds from share savings to share draft
•
transfer funds from share savings to share savings
•
make payments from share draft to loan accounts with us
•
make payments from share savings to loan accounts with us
•
get information about:
-
the account balance of share draft accounts
-
the account balance of share savings accounts
-
the account balance of loan accounts.
ATM Transfers - types of transfers and dollar limitations -
You may access your account(s) by ATM using your ATM card and
personal identification number or debit card and personal
identification number, to:
•
make deposits to share draft account(s) with an ATM card
•
make deposits to share draft account(s) with a debit card
•
make deposits to share savings account(s) with an ATM card
•
make deposits to share savings account(s) with a debit card
•
get cash withdrawals from share draft account(s) with an ATM card
-
you may withdraw no more than $300.00 per day
•
get cash withdrawals from share draft account(s) with a debit card
-
you may withdraw no more than $300.00 per day
•
get cash withdrawals from share savings account(s) with an ATM card
-
you may withdraw no more than $300.00 per day
•
get cash withdrawals from share savings account(s) with a debit card
-
you may withdraw no more than $300.00 per day
•
transfer funds from share savings to share draft account(s) with an
ATM card
•
transfer funds from share savings to share draft account(s) with a
debit card
•
transfer funds from share draft to share savings account(s) with an
ATM card
•
transfer funds from share draft to share savings account(s) with a
debit card
•
get information about:
-
the account balance of your share draft accounts
•
with an ATM card
•
with a debit card
-
the account balance of your share savings accounts
•
with an ATM card
•
with a debit card
Some of these services may not be available at all terminals.
Types of Debit Card Transactions -
You may access your share draft account(s) to purchase goods (in
person or by phone), pay for services (in person or by phone), get
cash from a merchant, if the merchant permits, or from participating
financial institution, and do anything that a participating merchant
will accept.
Debit Card Transactions - dollar limitations -
Using your card:
•
you may not exceed $1,500.00 in transactions per day
Currency Conversion.
When you use your Visa®-branded debit card at a merchant that
settles in currency other than US dollars, the charge will be
converted into the US dollar amount. The currency conversion rate
used to determine the transaction amount in US dollars is either 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 1%. The conversion rate in effect on the
processing date may differ from the rate in effect on the
transaction date or posting date.
Advisory Against Illegal Use.
You agree not to use your card(s) for illegal gambling or other
illegal purpose. Display of a payment card logo by, for example, an
online merchant does not necessarily mean that transactions are
lawful in all jurisdictions in which the cardholder may be located.
Home Banking Computer Transfers - types of transfers -
You may access your account(s) by computer using your personal
identification number, account numbers, and software, to:
•
transfer funds from share draft to share draft
•
transfer funds from share draft to share savings
•
transfer funds from share savings to share draft
•
transfer funds from share savings to share savings
•
make payments from share draft to loan accounts with us
•
make payments from share savings to loan accounts with us
•
make checks payable to self or third parties
•
get information about:
-
the account balance of share draft accounts
-
the account balance of share savings accounts
-
the account balance of loan accounts.
FEES
•
We do not charge for direct deposits to any type of account.
•
We do not charge for preauthorized payments from any type of
account.
Except as indicated elsewhere, we do not charge for these electronic
fund transfers.
Please refer to our separate fee schedule for additional information
about charges.
ATM Operator/Network Fees.
When you use an
ATM not owned by us, you may be charged a fee by the ATM operator or
any network used (and you may be charged a fee for a balance inquiry
even if you do not complete a fund transfer).
DOCUMENTATION
• Terminal transfers.
You can get a receipt at the time you make any transfer to or from
your account using one of our automated teller machines or
point-of-sale terminals.
• Preauthorized credits.
If you have arranged to have direct deposits made to your account at
least once every 60 days from the same person or company, you can
call us at (916) 386-1418 to find out whether or not the deposit has
been made.
• Periodic statements.
You will get a monthly account statement from us for your share
draft accounts.
You will get a monthly account statement from us for your share
savings accounts, unless there are no transfers in a particular
month. In any case, you will get a statement at least quarterly.
PREAUTHORIZED PAYMENTS
• Right to stop payment and procedure for doing so.
If you have told us in advance to make regular payments out of your
account, you can stop any of these payments. Here is how:
Call or write us at the telephone number or address listed in this
brochure in time for us to receive your request 3 business days or
more before the payment is scheduled to be made. If you call, we may
also require you to put your request in writing and get it to us
within 14 days after you call.
Please refer to our separate fee schedule for the amount we will
charge you for each stop-payment order you give.
• Notice of varying amounts.
If these regular payments may vary in amount, the person you are
going to pay will tell you, 10 days before each payment, when it
will be made and how much it will be. (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.)
• Liability for failure to stop payment of preauthorized transfer.
If you order us to stop one of these payments 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.
FINANCIAL INSTITUTION’S LIABILITY
Liability for failure to make transfers.
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 will
be liable for your losses or damages. However, there are some
exceptions. We will not be liable, for instance:
(1) If, through no fault of ours, you do not have enough money in
your account to make the transfer.
(2) If you have an overdraft line and the transfer would go over the
credit limit.
(3) If the automated teller machine where you are making the
transfer does not have enough cash.
(4) If the terminal or system was not working properly and you knew
about the breakdown when you started the transfer.
(5) If circumstances beyond our control (such as fire or flood)
prevent the transfer, despite reasonable precautions that we have
taken.
(6) There may be other exceptions stated in our agreement with you.
CONFIDENTIALITY
We will disclose information to third parties about your account or
the transfers you make:
(1) where it is necessary for completing transfers; or
(2) in order to verify the existence and condition of your account
for a third party, such as a credit bureau or merchant; or
(3) in order to comply with government agency or court orders; or
(4) as explained in the separate Privacy Disclosure.
UNAUTHORIZED TRANSFERS
(a) Consumer liability.
•
Generally.
Tell us at once
if you believe your card and/or code has been lost or stolen.
Telephoning is the best way of keeping your possible losses down.
You could lose all the money in your account (plus your maximum
overdraft line of credit). If you believe your card and/or code has
been lost or stolen, and you tell us within 2 business days after
you learn of the loss or theft, you can lose no more than $50 if
someone used your card and/or code without your permission. Also, if
you do NOT tell us within 2 business days after you learn of the
loss or theft of your card and/or code, and we can prove we could
have stopped someone from using your card and/or code without your
permission if you had told us, you could lose as much as $500.
Also, if your statement shows transfers made with your card and/or
code that you did not make, tell us at once. If you do not tell us
within 60 days after the statement was mailed to you, you may not
get back any money you 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 a hospital stay) kept you
from telling us, we will extend the time periods.
•
Limited Liability for Visa-branded debit card.
Your liability is
further limited if your card can be used to initiate a transaction
for which you are not required to provide identifying information,
such as a Personal Identification Number. You could lose all the
money in your account. Your liability for the unauthorized use of
your card will be no more than $50 if you notify us of the
unauthorized use.
In addition, when used in point-of-sale transactions, and unless you
have been grossly negligent or have engaged in fraud, you will not
be liable for any unauthorized transactions if your card is lost or
stolen. This limit on liability does not apply to ATM transactions,
to transactions using your PIN which are not processed by VISA®, or
to commercial cards.
If you fail to notify us of an unauthorized use that appears on a
periodic statement within 60 days of our transmittal of the
statement, and we can establish that we could have prevented the
unauthorized use if you had notified us within this period, you will
be liable for each unauthorized transfer (other than VISA®
point-of-sale transactions) that occurs after the close of the 60
days and before you give us notice.
If you fail to notify us because of extenuating circumstances beyond
your control that contributed to your delay in notifying us, such as
a serious physical impairment or hospitalization, this time period
may be extended.
(b) Contact in event of unauthorized transfer.
If you believe your card and/or code has been lost or stolen or that
someone has transferred or may transfer money from your account
without your permission, call or write us at the telephone number or
address listed in this brochure.
ERROR RESOLUTION NOTICE
In Case of Errors or Questions About Your Electronic Transfers, Call
or Write us at the telephone number or address listed in this
brochure, as soon as you can, if you think your statement or receipt
is wrong or if you need more information about a transfer listed on
the statement 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.
(1) Tell us your name and account number (if any).
(2) Describe the error or the transfer you are unsure about, and
explain as clearly as you can why you believe it is an error or why
you need more information.
(3) Tell us the dollar amount of the suspected error.
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
(5 business days if the transfer involved a point-of-sale
transaction and 20 business days if the transfer involved a new
account) after we hear from you and will correct any error promptly.
If we need more time, however, we may take up to 45 days (90 days if
the transfer involved a new account, a point-of-sale transaction, or
a foreign-initiated transfer) to investigate your complaint or
question. If we decide to do this, we will credit your account
within 10 business days (5 business days if the transfer involved a
point-of-sale transaction and 20 business days if the transfer
involved a new account) 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. Your account is considered a
new account for the first 30 days after the first deposit is made,
unless each of you already has an established account with us before
this account is opened.
We will tell you the results within three 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 that we used in our
investigation.
california community credit union
8815 Folsom Blvd.
sacramento, california 95826
Business Days: Monday through Friday
Excluding Federal Holidays
Phone: (916) 386-1418
MORE DETAILED INFORMATION IS AVAILABLE ON REQUEST
NOTICE OF ATM/NIGHT DEPOSIT FACILITY USER PRECAUTIONS
As with all financial transactions, please exercise discretion when
using an automated teller machine (ATM) or night deposit facility.
For your own safety, be careful. The following suggestions may be
helpful.
1. Prepare for your transactions at home (for instance, by
filling out a deposit slip) to minimize your time at the ATM or
night deposit facility.
2. Mark each transaction in your account record, but not while
at the ATM or night deposit facility. Always save your ATM receipts.
Don’t leave them at the ATM or night deposit facility because they
may contain important account information.
3. Compare your records with the account statements you receive.
4. Don’t lend your ATM card to anyone.
5. Remember, do not leave your card at the ATM. Do not leave any
documents at a night deposit facility.
6. Protect the secrecy of your Personal Identification Number
(PIN). Protect your ATM card as though it were cash. Don’t tell
anyone your PIN. Don’t give anyone information regarding your ATM
card or PIN over the telephone. Never enter your PIN in any ATM that
does not look genuine, has been modified, has a suspicious device
attached, or is operating in a suspicious manner. Don’t write your
PIN where it can be discovered. For example, don’t keep a note of
your PIN in your wallet or purse.
7. Prevent others from seeing you enter your PIN by using your
body to shield their view.
8. If you lose your ATM card or if it is stolen, promptly notify
us. You should consult the other disclosures you have received about
electronic fund transfers for additional information about what to
do if your card is lost or stolen.
9. When you make a transaction, be aware of your surroundings.
Look out for suspicious activity near the ATM or night deposit
facility, particularly if it is after sunset. At night, be sure that
the facility (including the parking area and walkways) is well
lighted. Consider having someone accompany you when you use the
facility, especially after sunset. If you observe any problem, go to
another ATM or night deposit facility.
10. Don’t accept assistance from anyone you don’t know when using
an ATM or night deposit facility.
11. If you notice anything suspicious or if any other problem
arises after you have begun an ATM transaction, you may want to
cancel the transaction, pocket your card and leave. You might
consider using another ATM or coming back later.
12. Don’t display your cash; pocket it as soon as the ATM
transaction is completed and count the cash later when you are in
the safety of your own car, home, or other secure surrounding.
13. At a drive-up facility, make sure all the car doors are locked
and all of the windows are rolled up, except the driver’s window.
Keep the engine running and remain alert to your surroundings.
14. We want the ATM and night deposit facility to be safe and
convenient for you. Therefore, please tell us if you know of any
problem with a facility. For instance, let us know if a light is not
working or there is any damage to a facility. Please report any
suspicious activity or crimes to both the operator of the facility
and the local law enforcement officials immediately.
—————————————
YOUR ABILITY TO WITHDRAW FUNDS
This policy statement applies to all accounts.
Our policy is to make funds from your cash and check deposits
available to you on the first business day after the day we receive
your deposit. Electronic direct deposits will be available on the
day we receive the deposit. Once the funds are available, you can
withdraw them in cash and we will use the funds to pay checks that
you have written.
Please remember that even after we have made funds available to you,
and you have withdrawn the funds, you are still responsible for
checks you deposit that are returned to us unpaid and for any other
problems involving your deposit.
For determining the availability of your deposits, every day is a
business day, except Saturdays, Sundays, and federal holidays. If
you make a deposit before 3:00 P.M. on a business day that we are
open, we will consider that day to be the day of your deposit.
However, if you make a deposit after 3:00 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.
If we cash a check for you that is drawn on another bank, 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 bank, 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.
LONGER DELAYS MAY APPLY
Case-by-case 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. The first $100 of your deposits, however, may be
available on the first business day.
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.
If you will need the funds from a deposit right away, you should ask
us when the funds will be available.
Safeguard exceptions.
In addition, funds you deposit by check may be delayed for a longer
period under the following circumstances:
We believe a check you deposit will not be paid.
You deposit checks totaling more than $5,000 on any one day.
You redeposit a check that has been returned unpaid.
You have overdrawn your account repeatedly in the last six months.
There is an emergency, such as failure of computer or communications
equipment.
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 the
eleventh business day after the day of your deposit.
SPECIAL RULES FOR NEW ACCOUNTS
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 to your account will be
available on the day we receive the deposit. Funds from deposits of
cash, wire transfers, and the first $5,000 of a day’s total deposits
of cashier’s, certified, teller’s, traveler’s, and federal, state
and local government checks will be available on the first business
day after the day of your deposit if the deposit meets certain
conditions. For example, the checks must be payable to you (and you
may have to use a special deposit slip). 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 U.S. 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
eleventh business day after the day of your deposit.
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
after 4:00 P.M. on the first business day after the day of your
deposit.
—————————————
TRUTH-IN-SAVINGS DISCLOSURE
savings/special accounts
Rate Information:
The dividend rate and annual percentage yield may change at any
time, as determined by the credit union board of directors.
Compounding and crediting -
Dividends will be compounded every quarter. Dividends will be
credited to your account every quarter.
Dividend period -
For this account type, the dividend period is quarterly, 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 March 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 above is March 31.
If you close your share account before dividends are paid, you will
not receive the accrued dividends.
Minimum balance requirements:
The minimum balance required to open this account is $25.00.
You must maintain a minimum daily balance of $200.00 in your account
to obtain the disclosed annual percentage yield.
Daily balance computation method -
Dividends are calculated by the daily balance method which applies a
daily periodic rate to the balance in the account each day.
Accrual of dividends on noncash deposits -
Dividends will begin to accrue on the business day you place noncash
items (for example, checks) to your account.
Transaction limitations:
During any month, you may not make more than six withdrawals or
transfers to another credit union account of yours or to a third
party by means of a preauthorized or automatic withdrawal or
telephonic order or instruction. No more than three of the six
transfers may be made by check, draft, or similar order to a third
party. If you exceed the transfer limitations set forth above, your
account will be subject to closure by the credit union.
The maximum cash withdrawal we allow is $50.00 per day.
Par value of a share:
The par value of a share in this account is $5.00.
Fees and charges:
Please refer to our separate fee schedule for additional information
about charges.
checking account (share draft)
Rate Information:
The dividend rate and annual percentage yield may change at any
time, as determined by the credit union board of directors.
Compounding and crediting -
Dividends will not be compounded. Dividends will be credited to your
account every quarter.
Dividend period -
For this account type, the dividend period is quarterly, 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 March 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 above is March 31.
If you close your checking account before dividends are paid, you
will not receive the accrued dividends.
Minimum balance requirements:
The minimum balance required to open this account is $25.00.
You must maintain a minimum daily balance of $500.00 in your account
each day to obtain the disclosed annual percentage yield.
Daily balance computation method -
Dividends are calculated by the daily balance method which applies a
daily periodic rate to the balance in the account each day.
Accrual of dividends on noncash deposits -
Dividends will begin to accrue on the business day you place noncash
items (for example, checks) to your account.
Transaction limitations:
The maximum cash withdrawal we allow is $500.00 per day.
Fees and charges:
Please refer to our separate fee schedule for additional information
about charges.
money market account
Rate Information:
The dividend rate and annual percentage yield may change at any
time, as determined by the credit union board of directors.
Compounding and crediting -
Dividends will be compounded every month. Dividends will be credited
to your account every month.
Dividend period -
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 above is January 31.
If you close your money market checking account before dividends are
paid, you will not receive the accrued dividends.
Minimum balance requirements:
The minimum balance required to open this account is $2,500.00.
You must maintain a minimum daily balance of $2,500.00 in your
account each day to obtain the disclosed annual percentage yield.
Daily balance computation method -
Dividends are calculated by the daily balance method which applies a
daily periodic rate to the balance in the account each day.
Accrual of dividends on noncash deposits -
Dividends will begin to accrue on the business day you place noncash
items (for example, checks) to your account.
Transaction limitations:
During any month, you may not make more than six withdrawals or
transfers to another credit union account of yours or to a third
party by means of a preauthorized or automatic withdrawal or
telephonic order or instruction. No more than three of the six
transfers may be made by check, draft, or similar order to a third
party. If you exceed the transfer limitations set forth above, your
account will be subject to closure by the credit union.
Fees and charges:
Please refer to our separate fee schedule for additional information
about charges.
ira accumulation account
Rate Information:
The dividend rate and annual percentage yield may change at any
time, as determined by the credit union board of directors.
Compounding and crediting -
Dividends will be compounded every quarter. Dividends will be
credited to your account every quarter.
Dividend period -
For this account type, the dividend period is quarterly, 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 March 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 above is March 31.
If you close your share account before dividends are paid, you will
not receive the accrued dividends.
Minimum balance requirements:
The minimum balance required to open this account is $25.00.
You must maintain a minimum daily balance of $200.00 in your account
to obtain the disclosed annual percentage yield.
Daily balance computation method -
Dividends are calculated by the daily balance method which applies a
daily periodic rate to the balance in the account each day.
Accrual of dividends on noncash deposits -
Dividends will begin to accrue on the business day you place noncash
items (for example, checks) to your account.
Transaction limitations:
You may not make any withdrawals or transfers to another credit
union account of yours or to a third party by means of a
preauthorized or automatic transfer, telephonic order or
instruction, or similar order to a third party.
Par value of a share:
The par value of a share in this account is $5.00.
Fees and charges:
Please refer to our separate fee schedule for additional information
about charges.
junior savers account
Rate Information:
The dividend rate and annual percentage yield may change at any
time, as determined by the credit union board of directors.
Compounding and crediting -
Dividends will be compounded every quarter. Dividends will be
credited to your account every quarter.
Dividend period -
For this account type, the dividend period is quarterly, 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 March 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 above is March 31.
If you close your share account before dividends are paid, you will
not receive the accrued dividends.
Minimum balance requirements:
The minimum balance required to open this account is $5.00.
Daily balance computation method -
Dividends are calculated by the daily balance method which applies a
daily periodic rate to the balance in the account each day.
Accrual of dividends on noncash deposits -
Dividends will begin to accrue on the business day you place noncash
items (for example, checks) to your account.
Transaction limitations:
During any month, you may not make more than six withdrawals or
transfers to another credit union account of yours or to a third
party by means of a preauthorized or automatic withdrawal or
telephonic order or instruction. No more than three of the six
transfers may be made by check, draft, or similar order to a third
party. If you exceed the transfer limitations set forth above, your
account will be subject to closure by the credit union.
Par value of a share:
The par value of a share in this account is $5.00.
Fees and charges:
Please refer to our separate fee schedule for additional information
about charges.
santa’s helper account
Rate Information -
The dividend rate and annual percentage yield may change at any
time, as determined by the credit union board of directors.
Compounding frequency -
Dividends will not be compounded.
Crediting frequency -
Dividends will be credited to your account at maturity.
Dividend period -
For this account type, the dividend period is the same as the term,
beginning on the date the account is opened, and ending on the
stated maturity date.
Effect of closing an account -
If you close your account before dividends are paid, you will not
receive the accrued dividends.
Minimum balance requirements:
You must maintain a minimum daily balance of $200.00 in your account
each day to obtain the disclosed annual percentage yield.
Daily balance computation method -
Dividends are calculated by the daily balance method which applies a
daily periodic rate to the balance in the account each day.
Accrual of dividends on noncash deposits -
Dividends will begin to accrue on the business day you place noncash
items (for example, checks) to your account.
Transaction limitations:
You may make unlimited additions into your account.
If any withdrawal is made from this account before October 31, then
this account may be closed.
You may make withdrawals of principal from your account before
maturity. Principal withdrawn before maturity is included in the
amount subject to early withdrawal penalty.
You cannot withdraw dividends from your account before maturity.
Time requirements -
Your account will mature on October 31.
Early withdrawal penalties
(a penalty may be imposed for withdrawals before maturity) - Please
refer to our separate fee schedule for additional information about
charges.
In certain circumstances such as the death or incompetence of an
owner of this account, the law permits, or in some cases requires,
the waiver of the early withdrawal penalty. Other exceptions may
also apply, for example, if this is part of an IRAor other
tax-deferred savings plan.
For any account which earns a dividend rate that may vary from time
to time during the term, the dividend rate we will use to calculate
this early withdrawal penalty will be the dividend rate in effect at
the time of the withdrawal.
Automatically renewable account -
This account will
automatically renew at maturity.
You may prevent renewal if we receive written notice from you before
maturity of your intention not to renew.
Each renewal term will be the same as the original term, beginning
on the maturity date. Dividends will be calculated on the same basis
as during the original term.
The funds will be mailed to you or transferred to your savings
account during the first week of November.
Par value of a share:
The par value of a share in this account is $5.00.
————————————
term share certificate
Rate Information -
You will be paid the rate until first maturity. Please refer to our
separate rate sheet for current rates.
Compounding frequency -
Unless otherwise paid, dividends will be compounded every month or
calendar quarter.
Crediting frequency -
Dividends will be credited to your account every month or calendar
quarter. Alternatively, you may choose to have dividends paid to you
or to another account every month or quarter rather than credited to
this account.
Dividend period -
For this account type, the dividend period is monthly or quarterly.
Minimum balance requirements:
The minimum balance required to open this account is $———————————————
.
You must maintain a minimum daily balance of $———————————————
in your account each day to obtain the disclosed annual percentage
yield.
Daily balance computation method -
Dividends are calculated by the daily balance method which applies a
daily periodic rate to the balance in the account each day.
Accrual of dividends on noncash deposits -
Dividends will begin to accrue on the business day you place noncash
items (for example, checks) to your account.
Transaction limitations:
After the account is opened, you may not make additions into the
account until the maturity date stated on the account.
You may make withdrawals of principal from your account before
maturity. Principal withdrawn before maturity is included in the
amount subject to early withdrawal penalty.
You can only withdraw dividends credited in the term before maturity
of that term without penalty. You can withdraw dividends anytime
during the term of crediting after they are credited to your
account.
Time requirements -
Your account will mature ——————————————————— .
Early withdrawal penalties
(a penalty may be imposed for withdrawals before maturity) -
• If your account has an original maturity of one year or
less:
The penalty we may impose will equal 90 days dividends on the amount
withdrawn subject to penalty.
• If your account has an original maturity of more than one
year:
The penalty we may impose will equal 180 days dividends on the
amount withdrawn subject to penalty.
In certain circumstances such as the death or incompetence of an
owner of this account, the law permits, or in some cases requires,
the waiver of the early withdrawal penalty. Other exceptions may
also apply, for example, if this is part of an IRAor other
tax-deferred savings plan.
Withdrawal of dividends prior to maturity -
The annual percentage yield is based on an assumption that dividends
will remain in the account until maturity. A withdrawal will reduce
earnings.
Automatically renewable account -
This account will automatically renew at maturity. You may prevent
renewal if you withdraw the funds in the account at maturity (or
within the grace period mentioned below, if any) or we receive
written notice from you within the grace period mentioned below, if
any. We can prevent renewal if we mail notice to you at least 30
calendar days before maturity. If either you or we prevent renewal,
your funds will be placed in a dividend-bearing account.
Each renewal term will be the same as the original term, beginning
on the maturity date. The dividend rate will be the same we offer on
new term share accounts on the maturity date which have the same
term, minimum balance (if any) and other features as the original
term share account.
You will have a grace period of seven calendar days after maturity
to withdraw the funds without being charged an early withdrawal
penalty.
variable term certificate
Rate Information -
The dividend rate and annual percentage yield may change at any
time, as determined by the credit union board of directors. Please
refer to our separate rate sheet for current rates.
Compounding frequency -
Unless otherwise paid, dividends will be compounded every quarter.
Crediting frequency -
Dividends will be credited to your account every quarter.
Alternatively, you may choose to have dividends paid to you or to
another account every quarter rather than credited to this account.
Dividend period -
For this account type, the dividend period is quarterly.
Minimum balance requirements:
The minimum balance required to open this account is $1,000.00.
You must maintain a minimum daily balance of $1,000.00 in your
account each day to obtain the disclosed annual percentage yield.
Daily balance computation method -
Dividends are calculated by the daily balance method which applies a
daily periodic rate to the balance in the account each day.
Accrual of dividends on noncash deposits -
Dividends will begin to accrue on the business day you place noncash
items (for example, checks) to your account.
Transaction limitations:
After the account is opened, you may not make additions into the
account until the maturity date stated on the account.
You may make withdrawals of principal from your account before
maturity. Principal withdrawn before maturity is included in the
amount subject to early withdrawal penalty.
You can only withdraw dividends credited in the term before maturity
of that term without penalty. You can withdraw dividends anytime
during the term of crediting after they are credited to your
account.
Time requirements -
Your account will mature ——————————————————— .
Early withdrawal penalties
(a penalty may be imposed for withdrawals before maturity) -
• If your account has an original maturity of one year or
less:
The penalty we may impose will equal 90 days dividends on the amount
withdrawn subject to penalty.
• If your account has an original maturity of more than one
year:
The penalty we may impose will equal 180 days dividends on the
amount withdrawn subject to penalty.
In certain circumstances such as the death or incompetence of an
owner of this account, the law permits, or in some cases requires,
the waiver of the early withdrawal penalty. Other exceptions may
also apply, for example, if this is part of an IRAor other
tax-deferred savings plan.
For any account which earns a dividend rate that may vary from time
to time during the term, the dividend rate we will use to calculate
this early withdrawal penalty will be the dividend rate in effect at
the time of the withdrawal.
Withdrawal of dividends prior to maturity -
The annual percentage yield is based on an assumption that dividends
will remain in the account until maturity. A withdrawal will reduce
earnings.
Automatically renewable account -
This account will automatically renew at maturity. You may prevent
renewal if you withdraw the funds in the account at maturity (or
within the grace period mentioned below, if any) or we receive
written notice from you within the grace period mentioned below, if
any. If you prevent renewal, your funds will be placed in a
dividend-bearing account.
Each renewal term will be the same as the original term, beginning
on the maturity date. Dividends will be calculated on the same basis
as during the original term.
You will have a grace period of seven calendar days after maturity
to withdraw the funds without being charged an early withdrawal
penalty.
COMMON FEATURES
Bylaw requirements:
You must complete payment of one share in your Savings account as a
condition of admission to membership.
Transaction limitation -
We reserve the
right to at any time require not less than 60 days notice in writing
before each withdrawal from an interest-bearing account other than a
time deposit, or from any other savings account as defined by
Regulation D.
Nature of dividends -
Dividends are
paid from current income and available earnings, after required
transfers to reserves at the end of a dividend period. (This
disclosure further explains the dividend feature of your non-term
share account(s).)
National Credit Union Share Insurance Fund -
Member accounts in this credit union are federally insured by the
National Credit Union Share Insurance Fund and also $250,000.00 per
member Excess Share Insurance provided by ASI.
We offer Roth and Education IRAs. Please contact the credit union
for more details.
Please refer to our separate fee schedule for additional information
about charges.
Please refer to our separate rate sheet for current rates.
effective date: ————————————————————————————————— .
REV Date 10/05
© 1988, 1993, 1996 Bankers Systems, Inc., St. Cloud, MN
Form AIB-TIS-CU 9/3/96 TCM-5CUi Custom 2aq,3l,4o |
8815 Folsom
Boulevard