Credit Union ATM Card And VISA Check Card Accounts Disclosure Statement
Your rights and responsibilities as a consumer who uses Electronic Funds Transfer (EFT) services are defined by the Electronic Funds Transfer Act (15 U.S.C. 1963, et seq.) and Regulation E of the Federal Reserve board. One requirement of this Act and the Regulation is that all financial institutions must make certain disclosures to EFT users.
EFT Charges. If you are charged a fee for using your card or other Electronic Funds Transfer services we offer, you will receive a notice of a schedule of fees at the same time you receive this disclosure.
Your Right To Receive Documentation.
Terminal Transfers: You will get a receipt at the time you make any transaction to or from your accounts using an ATM or POS terminal.
Periodic Statements: All share draft account customers will receive a monthly account statement. All share account customers will receive a statement at least quarterly; monthly, if electronic funds were made to their account during the preceding month.
Liability For Unauthorized Transfers: Tell us AT ONCE if you believe your Credit Union ATM Card or VISA Check Card and/or PIN (Personal Identification Number) has been lost or stolen. If you believe your Credit Union ATM Card or VISA Check Card and/or PIN has been lost or stolen, and you tell us within two business days after you learn of the loss or theft, you can lose no more than $50 if someone used your cards without your permission. If you do NOT tell us within two business days after you learn of the loss or theft of your card, and we can prove we could have stopped someone from using your card without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transfers 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 hospital stay) kept you from telling us, we will extend the time periods.
Address And Telephone Number: If you believe your Credit Union ATM Card or VISA Check Card has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call:
(419) 783-6500 OR WRITE US AT Midwest Community Federal Credit Union 08770 State Route 66 P.O. Box 608 Defiance, OH 43512
Business Days: Our business days are Monday through Friday. Holidays are not included.
Disclosure Of Account Information To Third Parties: It is our policy to disclose information to third parties about your account only:
1) if you give us your written permission, 2) in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, 3) in order to comply with government agency or court orders, 4) where it is necessary for completing transfers.
Termination Of ATM And POS Service: You agree that we may terminate this Agreement and your use of the VISA Check Card, Credit Union ATM or POS services, if:
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 not fault of ours, you do not have enough money in your account to make the transfer, 2) if the ATM where you are making the transfer does not have enough cash, or if the other electronic funds transfer is not working properly, 3) if our EFT system was not working properly and you knew about the breakdown when you started the transfer, 4) if circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions we have taken.
Credit Union Lien And Security Interest: To the extent you owe the Credit Union money as a borrower, guarantor, endorser or otherwise, the Credit Union has a lien on any or all of the funds in any account in which you have an ownership interest, regardless of the source of the funds, unless prohibited by law. The Credit Union may apply these funds in order to pay off your indebtedness. If the Credit Union chooses not to enforce its lien, the Credit Union does not waive its right to enforce the lien at a later time. In addition, you grant the Credit Union a consensual security interest in your accounts and agree the Credit Union may use the funds from your accounts to pay any debt or amount now or hereafter owed the Credit Union, except for obligations secured by your residence, unless prohibited by law.
Personal Identification Number (PIN): Upon receipt of your card and Personal Identification Number (PIN), you must sign your name on the signature panel on the back of the card. You are responsible for the proper control and use of the card and PIN. We must be notified immediately if you believe your card has been lost or stolen or if a transfer of funds has been made without your permission. For your protection, you should keep your PIN a secret and not write it on the card or keep it any place where it may be found with the card.
IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC FUNDS TRANSFERS* TELEPHONE US AT (419) 783-6500 OR WRITE US AT: Midwest Community Federal Credit Union 08770 State Route 66 P.O. Box 608 Defiance, OH 43512
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 tell you the results of our investigation 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 re-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 re-credit your account. If we decide that there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation.
Special Rules For Point-Of-Sale Transactions: If the problem concerns a Point-of-Sale transaction, we will tell you the results of our investigation within 20 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 90 days to investigate your complaint or question. The Credit Union has the right to change the terms of this Agreement at any time and from time to time by giving you advance notice of the intended change or as otherwise permitted by law.
*Electronic Funds Transfers include all transfers resulting from Automatic Teller Machine and/or Point-of-Sale transactions.
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