Truth In Savings

Savings 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 account before dividends are paid, you will not receive the accrued dividends.

Minimum balance requirements – The minimum required to open this account is the purchase of a share in the credit union.  Please see the bylaw requirements in the Common Features section for additional information.

You must maintain a minimum daily balance of $100.00 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 statement period, 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 transfer or telephonic order or instruction.  No more than three of the six transfers may be made by check, draft, debit card (if applicable) or similar order to a third party.  If you exceed the transfer limitations set forth above in any statement period, 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.

Checking Account

Minimum balance requirements – No minimum balance requirements apply to this account.

Transaction limitations – No transaction limitations apply to this account unless otherwise stated in the Common Features section.

Youth Savings Account (ages 18 and younger)

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 account before dividends are paid, you will not receive the accrued dividends.

Minimum balance requirements – No minimum balance requirements apply to this account.

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 statement period, 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 transfer or telephonic order or instruction.  No more than three of the six transfers may be made by check, draft, debit card (if applicable) or similar order to a third party.  If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the credit union.

Silver Deposit Account

Rate Information – The interest rate and annual percentage yield may change at any time, as determined by the credit union board of directors.

Compounding and crediting – Interest will be compounded every month.  Interest will be credited to your account every month.

Effect of closing an account – If you close your account before interest is paid, you will not receive the accrued interest.

Minimum balance requirements – 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 – Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Accrual of interest on noncash deposits –  Interest will begin to accrue on the business day you place noncash items (for example, checks) to your account.

Transaction limitations – During any statement period, 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 transfer or telephonic order or instruction.  No more than three of the six transfers may be made by check, draft, debit card (if applicable) or similar order to a third party.  If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the credit union.

Christmas Club 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 annually.  Dividends will be credited to your account annually.

Dividend period – For this account type, the dividend period is annually, for example, the beginning date of the first dividend period of the calendar year is November 1, and the ending date of such dividend period is October 31 of the following year.  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 October 31.

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 $100.00 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 statement period, 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 transfer or telephonic order or instruction.  No more than three of the six transfers may be made by check, draft, debit card (if applicable) or similar order to a third party.  If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the credit union.

IRA Savings 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 account before dividends are paid, you will not receive the accrued dividends.

Minimum balance requirements – The minimum required to open this account is the purchase of a share in the credit union.  Please see the bylaw requirements in the Common Features section for additional information.

You must maintain a minimum daily balance of $100.00 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 statement period, 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 transfer or telephonic order or instruction.  No more than three of the six transfers may be made by check, draft, debit card (if applicable) or similar order to a third party.  If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the credit union.

This account is also subject to IRS limitations and penalties.  See your IRA plan disclosure for details.

Common Features

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 seven 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.

National Credit Union Share Insurance Fund – Member accounts in this credit union are federally insured by the National Credit Union Share Insurance Fund.

Please refer to our separate fee schedule for additional information about charges.

Patriot Act

To help the U.S. government fight the funding of terrorism and money laundering activities, Federal law requires all United States Financial Institutions to obtain, verify and record information that identifies each individual or institution that opens an account.

What this means:  When opening an account we will ask for your name, address, date of birth, proof of citizenship, and other identifying information that might be needed.  This information will be used to verify your identity.  As appropriate, we may, at our discretion, as for additional documentation or information.

Terms and Conditions of Your Account

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 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 Michigan (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 is used in this document the words “we,” “our,” and “us” mean the credit union and 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 provision.  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 endorse 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.

Individual Account

Is an account in the name of one person.

Joint Account with Survivorship (and not as Tenants in Common)

Is an account in the name of two or more persons.  Each of you intends that when you die, the balance in the account (subject to any previous pledge to which we have agreed) will belong to the survivor(s).  If two or more of you survive, you will own the balance in the account as joint tenants with survivorship and not as tenants in common.

Joint Account

No survivorship (as Tenants in Common) – is owned by two or more persons, but none of you intend (merely by opening this account) to create any right of survivorship in any other person.  We encourage you to agree and tell us in writing of the percentage of the deposit contributed by each of you.  This information will not, however, affect the “number of signatures” necessary for withdrawal.

Revocable Trust Account

If two or more of you create such an 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 this account type reserve the right to:  (1) change beneficiaries, (2) change account types, and (3) withdraw all or part of the account funds at any time.

Business Account

Earnings in the form of interest, dividends, or credits will be paid only on collected funds, unless otherwise provided by law or our policy.  We may require the governing body of the legal entity opening the account to give us a separate authorization telling us who is authorized to act on its behalf.  We will honor the authorization until we actually receive written notice of a change from the governing body of the legal entity.

Stop payment

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 transfer

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 accounts 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.  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.  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.

Statements

You must examine your statement of account with “reasonable promptness.”  If you discover  (or reasonably should have discovered) any authorized 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 substantially 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 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 Deposit

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 the 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 accounts, 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 $1,000,000.”

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, 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.

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.

Preauthorized credits.  You may make arrangements for certain direct deposits to be accepted into your checking or savings account(s).

Preauthorized payments.  You may make arrangements to pay certain recurring bills from your checking or savings account(s).

Electronic check or draft conversion – types of transfers – Your check or draft can result in an electronic funds transfer.  This can happen in several ways.  For example:

  • You can purchase goods or pay for services and authorize a merchant or service provider to convert your check or draft into an electronic funds transfer.
  • At the time you offer a check or draft to a merchant or service provider, you may be asked to authorized the merchant or service provider to electronically collect a charge in the event the check or draft is returned for insufficient funds.  Paying such a fee electronically is an electronic funds transfer.
  • At the time you offer a check or draft to a merchant or service provider, you may be asked to authorized the merchant or service provider to electronically collect a charge in the event the check or draft is returned for insufficient funds.  Paying such a fee electronically is an electronic funds transfer.

Your authorization to make these types of electronic funds transfers may be expressed in writing or implied through the posting of a sign.

Audio Response Telephone Transfers

Types of transfers – You may access your account by telephone 24 hours a day at (616) 278-5799 using your personal identification number, a touch tone phone, and your account numbers, to:

  • Transfer funds from checking to checking
  • Transfer funds from checking to savings
  • Transfer funds from savings to checking
  • Transfer funds from savings to savings
  • Transfer funds from line of credit to savings
  • Transfer funds from line of credit to checking
  • Make payments from checking to loan accounts with us
  • Make payments from savings to loan accounts with us

Get information about:

  • Account balance of checking accounts
  • Last 25 transactions on deposits to checking accounts
  • Account balance of savings accounts
  • Last 25 transactions on deposits to savings accounts

Please also see Limitation on frequency of transfers section regarding limitations that apply to telephone transfers.

Your option to limit cash withdrawals – In addition to dollar amount limitations for withdrawals using your ATM card and Check Card card and/or code that we may establish, you have the option to limit the amount of cash that can be withdrawn by your ATM Card and Check Card card and/or code to $50.00 per day or some other amount acceptable to us.

ATM transfers

Types of transfers, dollar limitations, and charges – You may access your account(s) by ATM card and personal identification number or debit card and personal identification number, to:

  • Make deposits to checking or savings account(s) with an ATM card. There is a charge of $1.00 per transaction at non-proprietary ATMs.
  • Make deposits to checking or savings account(s) with a debit card. There is a charge of $1.00 per transactions at non-proprietary ATMs.
  • Get cash withdrawals from checking or savings account(s) with an ATM card. There is a charge of $1.00 per transactions at non-proprietary ATMs.
  • You may withdraw no more than $505.00 per day (offline limit is $205.00 per day)
  • Get cash withdrawals from checking or savings account(s) with a debit card there is a charge of $1.00 per transactions at non-proprietary ATMs
  • you may withdraw no more than $505.00 per day (offline limit is $205.00 per day)
  • Transfer funds from savings to checking account(s) with an ATM card there is a charge of $1.00 per transactions at non-proprietary ATMs
  • Transfer funds from savings to checking account(s) with a debit card there is a charge of $1.00 per transactions at non-proprietary ATMs
  • Transfer funds from checking to savings account(s) with an ATM card there is a charge of $1.00 per transactions at non-proprietary ATMs
  • Transfer funds from checking to savings account(s) with a debit card there is a charge of $1.00 per transactions at non-proprietary ATMs
  • Get information about:
    • the account balance of your checking accounts using an ATM card using a debit card there is a charge of $1.00 per transactions at non-proprietary ATMs the account balance of your savings accounts

Some of these services may not be available at all terminals.  Please also see Limitations on frequency of transfers regarding limitations that apply to ATM transfers.

Types of ATM Card Point-of-Sales Transactions – You may access your checking account(s) to purchase goods (in person) and pay for services (in person).

Point-of-Sales Transactions  – dollar limitations

Using your card:

You may not exceed $505.00 in transactions per day, ATM withdrawals included (offline limit is $205.00 per day)

Types of Check Card Point-of-Sale Transactions

You may access your checking 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 a participating financial institution, and do anything that can be done with a credit card (that a participating merchant will accept with a credit card).

Point-of-Sale Transaction charges

Using your card:

  • The charge for your card (whether or not the card is used in the period) is $15.00 per year

Please also see Limitations on frequency of transfers section regarding limitations that apply to debit card transactions.

Currency Conversion

If you effect a transaction with your Check Card in a currency other than US dollars, MasterCard International Incorporated will convert the charge into a US dollar amount.  MasterCard International will use its currency conversion procedure, which is disclosed to institutions that issue MasterCard cards.  Currently, the conversion rate used by MasterCard International to determine the transaction amount in US dollars for such transaction is generally either a government mandated rate or a wholesale rate determined by MasterCard International for the processing cycle in which the transaction is processed, increased by an adjustment factor established from time to time by MasterCard International.  The currency conversion rate used by MasterCard International on the processing date may differ from the rate that would have been used on the purchase date or cardholder statement posting date.

Advisory Against Illegal use

You agree not to use your card(s) for illegal gambling or other illegal purposes.  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.

Limitations on frequency of transfers

In addition to those limitations on transfers elsewhere described, if any, the following limitations apply:

  • During the statement period, you may not make more than six withdrawals or transfers to another credit union account of your or to a third party by means of a preauthorized or automatic transfer of telephonic order or instruction.  No more than three of the six transfers may be made by check, draft, debit card (if applicable), or similar order to a third party.  If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the credit union.

Minimum account balance

  • We do not require you to maintain a minimum balance in any account as a condition of using an access device (card or code) to accomplish a transfer.

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.

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 (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 (616) 842-6320 or you can call our Audio Response Service at (616) 842-1733 to find out whether or not the deposit has been made.
  • Periodic Statement – You will get a monthly account statement from us for your checking accounts.  You will get a monthly account statement from us for your savings accounts, unless there are no transfers in a particular month.  In any case, you will get a statement at least annually.

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.
  • 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) When 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.

REGULATORY AUTHORITY

If you believe that any provision of the Michigan Electronic Funds Transfer Act has been violated, you should notify Office of Financial and Insurance Services, Credit Union Division, at PO Box 30224, Lansing Michigan 48909.

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 tell us within 2 business days, you can lose no more than $50 if someone used your card and/or code without your permission.  (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).

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 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.

Additional limits on Liability for Check card, when used for point-of-sale transactions.  You will not be liable for any unauthorized transaction using your Check Card, when used for point-of-sale transactions, if:  (i) you can demonstrate that you have exercised reasonable care in safeguarding your card from the risk of loss or theft, (ii) you have not reported to us two or more incidents of unauthorized use within the prior twelve-month period, and (iii) your account is in good standing.  If any of these conditions are not met, your liability is the lesser of $50 or the amount of money, property, labor, or services obtained by the unauthorized use before notification to us.  “Unauthorized use” means the use of your debit card by a person, other than you, who does not have actual, implied, or apparent authority for such use, and from which you receive no benefit.  This additional limitation on liability does not apply to PIN-based transactions or transactions not processed by MasterCard.

(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

In case of errors or questions about your Electronic Transfers, call or write us at the telephone number or address listed in this disclosure, 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 (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 (90days 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 transfer credit your account within 10 business days (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.

Tri-Cities Credit Union
905 Pennoyer
Grand Haven Mi  49417
Business Days:  Monday through Friday, excluding federal holidays
Phone:  (616) 842-6320

More detailed information available upon request.

Equal Housing Lender

We do business in accordance with Federal Fair Lending Laws.

Under the Federal Fair Housing Act, it is illegal, on the basis of race, color, national origin, religion, sex, handicap, or familial status (having children under the age of 18), to:

  • Deny a loan for the purpose of purchasing, constructing, improving, repairing or maintaining a dwelling, or deny any loan secured by a dwelling; or
  • Discriminate in fixing the amount, interest rate, duration, application procedures or other terms or conditions of such a loan, or in appraising property.

If you believe you have been discriminated against, you should send a complaint to:

Assistant Secretary for Fair Housing and Equal Opportunity
Department of Housing & Urban Development
Washington, DC  20410
For processing under the Federal Fair Housing Act and to:
National Credit Union Administration
Office of Examination and Insurance
Alexandrea, VA  22314-3428

For processing under NCUA Regulations.

Under the Equal Credit Opportunity Act, it is illegal to discriminate in any credit transaction:

  • On the basis of race, color, national origin, religion, sex, marital status, or age,
  • Because of income is from public assistance, or
  • Because a right was exercised under the Consumer Credit Protection Act.

If you believe you have been discriminated against, you should send a complaint to:

National Credit Union Administration
Office of Examination and Insurance
Alexandrea, VA  22314-3428

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