BONUS "LADDERED" TERM ACCOUNT A member may initiate a defined "Laddered" term program by splitting the funds on deposit with the Credit Union into a minimum of three (3) different maturity term accounts. When each of the shorter term accounts matures, it will be renewed for a term equal to the longest term represented in the defined "Ladder." When a term account is renewed it will be set up to receive the prevailing dividend rate at the time of renewal. For example, a "Laddered" term account program that is initiated with a one- year term account, a two- year term account and a three- year term account will renew as follows: The one-year term account will mature in one year and will be renewed as a three-year term account at the prevailing rate for a three-year term account. The two-year term account will mature in two years and will be renewed as a three-year term account at the prevailing rate for a three-year term account. In this scenario, the three accounts will then mature one year apart as long as the defined "ladder" program remains active. BONUS: As in all term accounts, you may receive a higher dividend rate on each term account included in a defined "ladder" since the combined initial balances of those accounts must total forty thousand ($40,000.00) or more dollars. NOTE: If the aggregate balance of the term accounts that qualified you for a bonus in a "Laddered" program drops below forty thousand ($40,000.00) dollars, you will lose the dividend bonus, and the stated dividend rates will be reduced accordingly on each of the individual term accounts that are included within the defined "ladder."
See DIVIDEND RATE INFORMATION, DIVIDEND ACCRUAL, BALANCE COMPUTATION METHOD, DIVIDEND COMPOUNDING AND CREDITING.Top
INDIVIDUAL RETIREMENT ACCOUNTS (IRAs) It will be the responsibility of the account holder to assure that a deposit or contribution into any IRA account will be subject to the terms and conditions of the IRA Plan Agreement, and in compliance with IRA regulations. The Credit Union is not responsible for determining if an IRA deposit or contribution is compliant.
You may withdraw from or close an Individual Retirement Account (IRA) at anytime, however, either action may subject you to certain State or Federal penalties as well as the substantial early withdrawal penalties imposed by the Credit Union if your (IRA) is in the form of a term account. See The early withdrawal penalty chart.
See DIVIDEND RATE INFORMATION, DIVIDEND ACCRUAL, BALANCE COMPUTATION METHOD, DIVIDEND COMPOUNDING AND CREDITING.Top
INDIVIDUAL RETIREMENT ACCOUNT (IRA) TERM ACCOUNT A minimum contribution or deposit of two thousand ($2,000.00) dollars is required to open this account. IRA term accounts can be opened for one (1), two (2), three (3), four (4), five (5), or seven (7) year periods. See TERM ACCOUNT. See DIVIDEND RATE INFORMATION, DIVIDEND ACCRUAL, BALANCE COMPUTATION METHOD, DIVIDEND COMPOUNDING AND CREDITING.Top
MONEY MARKET INDIVIDUAL RETIREMENT ACCOUNT (IRA) A minimum contribution or deposit of twenty-five hundred ($2,500.00) dollars is required to open this account.
- If the average daily balance during any dividend period drops below the required twenty-five hundred ($2,500.00) dollars, but not less than one hundred ($100.00) dollars, the paid dividend rate will reduce to the rate being paid on the Accumulation Share (savings) Individual Retirement Account for that dividend period.
- If the average daily balance during any dividend period drops below one hundred ($100.00) dollars, no dividend will be earned or paid for that dividend period.
- If the average daily balance drops below the required twenty-five-hundred ($2,500.00) dollars and remains below that minimum for sixty (60) days, we can, at our option, close the Money Market Individual Retirement Account and transfer all remaining funds on deposit to an Accumulation Share (savings) Individual Retirement Account.
- See DIVIDEND RATE INFORMATION, DIVIDEND ACCRUAL, BALANCE COMPUTATION METHOD, DIVIDEND COMPOUNDING AND CREDITING.Top
INDIVIDUAL RETIREMENT ACCOUNT (IRA) ACCUMULATION SHARE A minimum deposit of five ($5.00) dollars is required to open and maintain this account. See REGULAR SHARE (SAVINGS) ACCOUNT.
- You may make deposits into this account at anytime and for any amount up to the maximum amount that is allowed by the Internal Revenue Service regulations in one year.
- See DIVIDEND RATE INFORMATION, DIVIDEND ACCRUAL, BALANCE COMPUTATION METHOD, DIVIDEND COMPOUNDING AND CREDITING.
ELECTRONIC SERVICES This disclosure is given in compliance with the Electronic Funds Transfer Act and Regulation E to inform you of certain terms and conditions of the electronic funds transfer services that the Credit Union provides. The terms and conditions herein described may be changed by the Credit Union, as needed. In the event of a change and this disclosure is amended, you will be notified in writing at least thirty (30) days prior to the effective date of the change. NOTE: To obtain any of the services described in this disclosure, you must be a Credit Union member. See MEMBERSHIP ELIGIBILITY.
- The retention and use of any access device or use of any electronic service which you qualified for and obtained through the Credit Union will be your agreement to and acceptance of any regulations, rules, procedures, instructions, or other disclosures pertaining to and which govern accounts that you can access electronically.
- The use of any access device or electronic service also means that you have received a copy of this Electronic Services Disclosure.
- A Credit Union ordered access device will be the property of the Credit Union and must be surrendered upon demand.
- After you receive any Credit Union ordered access device, you will receive by mail a Personal Identification Number (PIN) to be used in conjunction with it.Top
PERSONAL IDENTIFICATION NUMBERS The use of a personal identification number (PIN) by any member(s), either separately or in conjunction with any authorized device(s), by which funds in any of their account(s) may be accessed, shall have the same force and effect as the account holder(s) signature. NOTES: (1) Your personal identification number (PIN) should never be written on or affixed to any account access device (2) If your access device and personal identification number (PIN) become available to any person, remember that they will be able to gain information about, or transact business on, any of your accounts which may be accessible. (3) The Credit Union will not know your PIN in the event that you lose or forget it. In the event that the PIN is one that you selected, you will be required to select a new one in writing. If your PIN was pre-selected and you received it by US Mail after receiving the corresponding card in a like manner, you will need to contact the Credit Union to order a replacement PIN from the card issuer. A fee may be charged for this order as set forth in the Schedule of Fees.Top
GENERAL INFORMATION ABOUT BUSINESS DAYS OR TIME PERIODS OF ELECTRONIC SERVICE ACCESSIBLITY
- Northrop Grumman Federal Credit Union BUSINESS DAYS are any day of the week except Saturday, Sunday, or federal holidays.
- The main office of the Credit Union is located at 879 W. 190th St., Gardena, California 90248.
- The mailing address for the Credit Union is: Box 47009, Gardena, California 90247-6809.
- The general telephone numbers for the Credit Union are 310-808-4000 or 800-633-2848.
- CALL 24 will normally be available 24 hours a day, seven days a week. The phone numbers are 310-327-0682 or 800-676-3328.
- NORTELLER automated teller machines will normally be available 24 hours a day, seven days a week. (Some access may be limited due to location)
- STAR, CIRRUS, CO-OP, or Visa Networks will normally be available 24 hours a day, seven days a week. (Some access may be limited due to location or operational hours of a business in which the (ATM) or terminal may be located.)Top
PROMPT REPORTING BY YOU OF UNAUTHORIZED TRANSFERS COULD LIMIT OR REDUCE YOUR LIABILITIES If you believe that any access device or PIN of yours has been lost or stolen or that someone may use these items without your permission, you must report this information to the Credit Union upon discovery or you could lose all of the funds in your account(s) or from any available credit line(s). Contact the Credit Union by phone immediately to report these occurrences.
- If you notify us within two (2) business days after discovery of any loss or theft of any access device or PIN, your maximum liability for any unauthorized transfer would be fifty ($50.00) dollars.
- If you do not notify us within two (2) business days after discovery of any loss or theft of any access device or PIN and we can prove that with an earlier notification we could have prevented some of the loss, your maximum liability for any unauthorized transfer would be five hundred ($500.00) dollars.
- If your periodic statement reflects an unauthorized transfer caused by any reason and that unauthorized transfer is not reported to the Credit Union within sixty (60) days of the statement being mailed to you, and we can prove that any of these unauthorized transfers would not have happened had we been notified in timely manner, you may not get any funds back on any unauthorized transfers that occurred after the sixty (60) day period and before any reporting date. In this case, if the unauthorized transfer was not due to a lost or stolen access device or PIN, your liability would be limited to the amount of the transfers. If the unauthorized transfer was due to a lost or stolen access device, you may also be liable for any amounts as described in numbers 1 & 2 above. NOTES: (1) If extenuating circumstances existed which caused any delay in your notifying us of any unauthorized transfer(s), the time periods referenced above may be extended by a reasonable time. (2) You may report the loss, theft, or intent of anyone to use any access device or PIN belonging to you or any unauthorized transfer to the Credit Union by making an in-person visit, by telephone, through the_Max! eBranch, or by US Mail. The Credit Union main office information is provided above for your reference, however, you may also contact any Credit Union branch office.Top
PRE-AUTHORIZED DEPOSITS, TRANSFERS, WITHDRAWALS AND PAYMENTS The owner(s) of any account in which automatic deposits, transfers, withdrawals or payments can be made, shall be responsible for either initiating or terminating those deposits, withdrawals, transfers or payments, by providing the Credit Union with written documentation of their intent. You will be liable for any unauthorized transfers that are made from your account by a third party.
- Pre-authorized deposits or transfers require at least a thirty (30) day advance notice to change or cancel.
- Pre-authorized deposits can only be made into your Regular Share (savings) or Share Draft (checking) accounts.
- You may call the Credit Union on any business day or use Call 24 or the_Max! eBranch to determine if your recurring deposit has been credited to your account. See Call 24 ELECTRONIC TELEPHONE TRANSFERS or the_Max! eBranch. That deposit will also be shown on your next account statement.
- In the event that the Credit Union is required to repay the United States Government for any benefit payment that was automatically deposited into your account, you give us permission to deduct the amount that was returned to the Government from any of your accounts.
- Pre-authorized payments can only be made from your Regular Share (savings) or Share Draft (checking) accounts.
- Any transfers or payments will be shown on your next periodic statement.
- You may stop any pre-authorized payment that you had ordered by notifying us either verbally or in writing and at least three (3) business days prior to the time when the payment is to be made. A verbal request must be affirmed in writing, within fourteen (14) days, or the request will no longer be valid. A written stop order which gives exact information will remain in force for six (6) months. See STOP PAYMENT ORDERS. You should also contact the payee of your original order to advise them of your intent to stop the pre-authorized payment to them. We may require that you provide us with a copy of a written "stop" order to the payee. NOTES: (1) A fee may be charged as set forth in the Schedule of Fees. (2) A fee may be charged for each and any electronic funds transfer that causes any negative account balance as set forth in the Schedule of Fees.Top
CREDIT UNION LIABILITY FOR ELECTRONIC FUNDS TRANSFER The Credit Union, which will be compliant with all of the regulations and rules that govern it, will exercise ordinary care in performing any requested transactions on your behalf. However, if we fail to properly complete any transaction according to the terms of this agreement, we will be liable to you for any losses or damages up to and not to exceed the amount of that transaction, unless there are additional provisions permitted by law. We cannot be held liable for not completing an electronic funds transfer or causing you any loss if: (a) there are not enough available funds on deposit in your account for us to complete the transfer, (b) the transfer would go over the approved limit of your MoneyMaster Line of Credit when it is designated as a source of funds for overdraft protection, (c) any automatic teller machine (ATM) that you are using is out of cash, (d) your access device has either expired or the magnetic encoding strip cannot be read, is inactive due to non or misuse, or has been retained by the (ATM) for any reason, or (e) we were prevented from completing the transfer due to circumstances beyond our control, such as an interruption to electrical power.
CREDIT UNION LIABILITY REGARDING ACCOUNT INFORMATION The Credit Union will not release any information with regard to your account transactions to any third parties unless (a) the information is needed to complete a transaction, (b) the third party is acting within the law in verifying the existence and condition of your account, (c) it is by court order or by governmental request, (d) to verify if there are sufficient funds in your account to pay a check or withdrawal order that you have written, (e) to verify that you have a business relationship with us, (f) you have given your written permission.Top
NORTELLER AUTOMATED TELLER MACHINE (ATM) The Credit Union owns and maintains its own network of automated teller machines (ATMs). The common designation for this network is "NORTELLER." NOTE: Any other person for whom you may want to order a Norteller ATM card or Visa ATM/check card on your account must be a joint signer on all the accounts for which the card provides access.
- At a Norteller ATM you can (a) make balance inquiries on your Regular Share (savings), Share Draft (checking), Money Market, and MoneyMaster Line of Credit account(s), (b) make deposits or withdrawals on your Regular Share (savings), Share Draft (checking), and Money Market account(s), (c) advance on or make payments to your MoneyMaster Line of Credit, (d) make transfers between your Regular Share (savings), Share Draft (checking), and Money Market accounts, as well as transfer from any of these accounts to make payments on your MoneyMaster Line of Credit. NOTES: (a) Withdrawals, transfers, or loan advances can only be made when funds are available to perform these transactions. (b) There are no fees for transactions performed at any Norteller ATM when using a Norteller ATM card or NGFCU issued Visa ATM/check card.Top
ADDITIONAL AUTOMATED TELLER MACHINE (ATM) DISCLOSURES The Credit Union also gives you additional ATM access to your Regular Share (savings) and Share Draft (checking) accounts by belonging to the Star, Cirrus, and Co-op ATM networks.
- On the Star, Cirrus, and Co-op networks you have access to your Regular Share (savings) and Share Draft (checking) accounts only. You can obtain balance inquiries or perform transfers or withdrawals from those accounts only. NOTE: The "owner" of the ATM thatt is used within these networks may assess you a surcharge for the use of “their” machine. On these non-Norteller machines, the Credit Union may assess a fee for balance inquiries or withdrawals in excess of one (1) per month from either your Regular Share (savings) or Share Draft (checking) account(s) as set forth in the Schedule of Fees. See WITHDRAWALS Note.
- At stores, shops, etc., equipped with terminals or cash machines connected to the Star network, you can use your Norteller ATM card to make purchases. The cost of those purchases will be debited directly from your Share Draft (checking) account. NOTE: Withdrawals, transfers, or purchases can only be made when funds are available to perform these transactions.Top
OTHER INFORMATION REGARDING ATMs OR ATM ACCESS
- The minimum withdrawal amount at most ATMs is twenty ($20.00) dollars and the maximum amount of withdrawal in one day is four hundred ($400.00) dollars when you use the Norteller ATM access card, and five hundred ($500.00) dollars when you use the Visa ATM/check card. NOTE: Withdrawals from Share Draft (checking) accounts will, if necessary, be covered by any established and connected overdraft source in which there are available funds.
- The Star ATM Network when used at point of purchase also has allowable one day limits of four hundred ($400.00) dollars when you use the Norteller ATM access card and five hundred ($500.00) dollars when you use the Visa ATM/check card. NOTE: Funds to pay for items or services at point of purchase (POP) locations will only be deducted from your Share Draft (checking) account and will, if necessary, be covered by any established and connected overdraft source in which there are available funds.
- Any deposit(s) of non-cash items are subject to holds. See DEPOSIT OF FUNDS/CHECK HOLDS.
- You are entitled to receive a receipt of any transaction that you perform at any Norteller, non-NorteIler ATM or point of purchase location.
- The Credit Union may revoke or cancel your ATM privileges at anytime and without notification to you. See ACCOUNT CLOSURE OR TERMINATION OF PRIVILEGES.
- If your Credit Union NorteIler ATM or Visa ATM/check card is stolen or is lost, you should report such loss to the Credit Union immediately to prevent or minimize the risk of unauthorized charges or withdrawals. You may call the main Credit Union numbers 24 hours a day to report the loss of any access device. You may call Fiserv 24 hours a day at 800-554-8969 to report a lost or stolen Visa ATM/check card only. See PERSONAL IDENTIFICATION NUMBERS (PINs). Notes (a) and (b) for card safety and "Prompt reporting by you of unauthorized transfers could limit or reduce your liabilities." NOTE: A fee may be charged for the replacement of any access device that was either lost or stolen as set forth in the Schedule of Fees.Top
VISA ATM/CHECK CARD The Visa ATM/check card along with providing access to your accounts at various automated teller machines (ATMs) and point of purchase (POP) locations as previously described in the last three (3) sections, will also replace the need for writing share drafts (checks) to access up to twenty-five hundred ($2,500.00) dollars in one day from funds that are already on deposit in your Share Draft (checking) account or are available in any established and connected overdraft source when purchasing goods, paying for services, or obtaining cash advance in person from participating merchants and financial institutions.Top
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) 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 (b) the government-mandated rate in effect for the applicable central processing date; and (c) in each instance, plus or minus any adjustment determined by the issuer. The conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or posting date. NOTE: (a) When a withdrawal (charge) is made, using the Visa ATM/check card, funds on deposit in your Share Draft (checking) account, and for the amount of that withdrawal (charge) will become "frozen," and will be transferred to pay for that withdrawal (charge) when it is presented. This transfer will usually take place within three (3) days of the actual transaction.Top
CALL-24, YOUR ELECTRONIC TELEPHONE ACCOUNT ACCESS You may access any of your accounts with a touch-tone telephone through Call 24, the Credit Union’s audio response system. You select your own personal identification (PIN) number when you sign up for this service. See PERSONAL IDENTIFICATION NUMBERS (PINs). Call 24 will usually be available 24 hours a day, seven days a week.
- Through Call 24, you have the ability (a) to make inquiries regarding account and loan balances, share drafts (checks) that have paid, credit available on any Credit Union open lines of credit, loan payoffs, dividend information, pre-authorized deposits, (b) to perform transfers from one account to another or accounts to loans (payments) (See TRANSFER LIMITATIONS), (c) to request a loan advance on your MoneyMaster Line of Credit to transfer directly into your account or to have a check mailed to your address of record, (d) to request a withdrawal from your Regular Share (savings) account and have a check for the amount of the withdrawal mailed to your address of record. NOTE: Any request for a check to be mailed will be fulfilled during the next business day.
- The Credit Union may revoke or cancel your Call 24 privileges at anytime and without notification to you. See ACCOUNT CLOSURE OR TERMINATION OF PRIVILEGES.
- There are no monthly transaction fees for utilizing this service.Top
the_Max! eBRANCH You can access any of your Credit Union accounts securely via the Internet through the_Max! eBranch. You select your own personal identification number (PIN) when you sign up for this service. See PERSONAL IDENTIFICATION NUMBERS (PINs). The same PIN is used to gain access to Call 24, the Credit Union’s audio response account management system. You can change your PIN through Call 24 or the_Max! eBranch. the_Max! eBranch will usually be available 24 hours a day, 7 days a week.
- In order to utilize this service, you must be a member of the Credit Union (See MEMBERSHIP ELIGIBILITY) and you must have access to the Internet, through an Internet Service Provider (ISP). You may be asked to identify and designate one of your Credit Union accounts as a “payment account.” The “payment account” will be used as a source for any fee associated with any “selected service” that you require, either now or in the future. NOTES: (1) Except for the voluntary bill pay option, there are no monthly transaction fees for utilizing this service. (2) You will be responsible for any charge(s) that may arise from vendors whose equipment or services you utilize in accessing your accounts through the_Max! eBranch.
- Through the_Max! eBranch, you have the ability to make inquiries and see (a) account and loan balances, (b) current interest rates, (c) interest that you have paid and dividends that you have earned, (d) credit available on any open lines of credit, (e) loan payoffs, and (f) a history of your account activity. You have the abiltity to transfer funds from one account to another, or accounts to loans, or to other financial institutions. You have the abiltiy to set-up recurring internal payments to your Credit Union loans. You have the ability to change your address, order share drafts (checks), view and print cleared share drafts (checks), open new certificates or sub-accounts, add joint owners, set up overdraft protection, set up Individual Retirement Account (IRA) distributions, place stop payment orders, request loans, report lost or stolen account access devices or unauthorized transfers, or alleged errors on your account(s). You have the ability to view and print a “confirmation” page which will confirm the success with which you performed any transaction. You have the ability to “export” any of your account information from the Max! eBranch to your personal financial, accounting, or spreadsheet software. You have the ability to send secured and unsecured e-mail messages as a direct communication with the Credit Union. There are numerous other functions through the_Max! eBranch that are currently available and will become available as we continue to develop this service. NOTES: (1) Financial transactions can only be performed when there are funds available to complete them. (2) Fees as set forth in the Schedule of Fees might be charged for certain functions that you perform in the_Max! eBranch.
- The bill pay option allows you to set up a schedule of bills to be paid directly from your Share Draft (checking) account, either on a one-time, future or recurring basis.
- You manage in bill payer your personal list of payees, their names, their addresses and other required account information, and the date you want a payment debited from your account and sent to each payee. If a payee is not available in the current database of previously established payee relationships, you have the ability to submit information to establish a new payee relationship through the_Max! eBranch. NOTES: (1) There are no limitations to the number of payments that you can set up. (2) You are limited to a one-time and a recurring payment to be sent to each payee on the same day. (3) You may make a payment to anyone who is approved by the Credit Union.
- On the payment day you specify, the Credit Union will debit your Share Draft (checking) account or, if the payment day falls on a weekend or holiday, your Share Draft (checking) account will be debited the next business day, and the funds, either by check or electronically, will be remitted to the payee. NOTES: (1) There must be sufficient funds available in your Share Draft (checking) account or in any overdraft source that is connected with it on the instructed payment date, or the Credit Union will not be obligated to remit the payment on your behalf. (2) The Credit Union will reserve the right not to make any or all of the payments which by your instruction are to be remitted on the same day, if there are not sufficient funds available to pay all of those payments. (3) The date that you authorize funds to be debited from your Share Draft (checking) account for the purpose of payment through the bill payer service should be at least six (6) business days prior to the actual due date to assure sufficient time for the payment to be received and posted to your account with the payee and to avoid the risk of "late" charge(s) assessed by the payee. (4) You agree that it is your responsibility to validate that any payment(s) made per your instruction and through the_Max! eBranch bill payer was (were) correct and conform to your instructions. (5) The Credit Union cannot be held responsible for any additional charges that you may incur from a payee either because you did not allow sufficient time for the payment to arrive and to be credited to your account with the payee as previously defined in (3) above or because any third party involved in this payment process failed to transmit the payment to the payee. See CREDIT UNION LIABILITY FOR ELECTRONIC FUNDS TRANSFER for the liability, or release of liability, of the Credit Union in regard to any electronic transfers.
- A fee, as set forth in the Schedule of Fees, may be charged for using the bill pay option to cover service for the previous month. This fee will be debited from your payment account on the 5th of the month no matter if bill payments were made in the previous month or not. NOTE: If there are not sufficient funds available in the payment account at the time the fee is charged, the bill pay option may be canceled by the Credit Union. Reinstatement of this option would only be allowed after you contact the Credit Union Member Service Department and deposit funds sufficient to cover any accrued bill pay fees and pending transfers and/or debits.
- You will have the right to stop or change any scheduled payment by using the cancel payment function within the_Max! eBranch, or by contacting the Credit Union. This cancellation would have to be made by you no later than 7 p.m., Pacific Standard Time on the day prior to the actual scheduled payment day.
- Any authorization(s) to transfer funds that you originate through the_Max! eBranch on a Credit Union business day (See BUSINESS DAY) would have to be completed before 7 p.m. Pacific Standard Time to be posted to or against your account on that same business day. After 7 p.m., the posting would show as having been authorized on the next Credit Union business day.
- You have the ability to cancel any of the online financial services that you have on the_Max! eBranch, or restrict your account completely from being accessible through the_Max! eBranch, by notifying the Credit Union either verbally or in writing. If you submit a request verbally, we would ask that it be followed up in writing within ten (10) days of the verbal request.
- The Credit Union may revoke or cancel your access to the_Max! eBranch at anytime and without notification to you. See ACCOUNT CLOSURE OR TERMINATION OF PRIVILEGES.Top
AUTOMATED CLEARING HOUSE (ACH) AND WIRE TRANSFERS You may receive deposits to your account electronically through ACH transfer and either receive deposits to or make transfers from your account(s) through electronic wire transfer.
- You agree that we are not required to notify you when funds are received in your account by way of these transfers as long as the transaction is shown on your next periodic statement.
- We may provisionally credit your account with Automated Clearing House (ACH) funds prior to actually receiving them. If we credit your account, and then, for some reason, do not receive those funds, we can reverse the credit entry to your account, and you then will become liable to the Credit Union for the amount of any sum(s) that were advanced to you by the Credit Union as well as possible fees as set forth in the Schedule of Fees.
- When you initiate any wire transfer, you supply us with information that identifies a person or financial institution by name and by account or account number. The Credit Union will rely on that information to be correct even if it belongs to another person or place. NOTES: (1) The initiation of a wire transfer will be subject to a cutoff time of 12:00 noon Pacific Standard Time on any business day. (2) A fee may be charged for the initiation of any wire transfer as set forth in the Schedule of Fees.Top
IN THE CASE OF ERRORS OR QUESTIONS IN REGARD TO ANY ELECTRONIC SERVICE TRANSACTION If you believe that an error has occurred, or if you think that your receipt or statement reflect wrong information, or if you need additional information about any electronic transaction which appears on any receipt or statement of yours, contact the Credit Union either by phone, an in-person visit, or by mail to report or request it. We may ask that any oral reporting of an alleged error be confirmed in writing within ten (10) business days of the oral report.
- You are required to notify the Credit Union of any alleged error within sixty (60) days of receiving any periodic account statement that may show the reason for your concern.
- To properly investigate any claim of an alleged error, we would need your name, account number, a statement that you believe an error exists and why, as well as the type, date, and amount of the error.
- We will investigate any alleged error or question that you have and advise you of our findings within ten (10) business days from the time we receive your complaint or question. (This response time for a point of sale transaction would be twenty (20) business days).
- If any error is confirmed, corrections, including adjustments to the balance, the re-figuring of any interest or the reversal of any late charges or fees would promptly be made, and you would be advised of the same within three (3) business days of that confirmation.
- If our investigation requires more time than was previously stated (in number 3) to complete, our final response time(s) could be extended to forty-five (45) or ninety (90) business days. However, after the ten (10) or twenty (20) response business days, (see number 3) we would provisionally credit your account for any amount that you think is in error, so you would have the use of those funds while we complete our investigation. NOTE: If we ask that you put any complaint or question in writing, and you do not comply within ten (10) business days, we will be under no obligation to provisionally credit your account if there is an extended investigation.
- If our investigation concludes that no error existed on your account, we will reverse any provisional credit that we extended, and you will become liable to the Credit Union for any funds that were advanced to you, plus possible fees as set forth in the Schedule of Fees. You will be advised of these actions within three (3) business days of the conclusion of any investigation. NOTES: (1) We will continue to honor any checks, drafts, or pre-authorized transfers that would have been normally honored, prior to the reversal of any provisional credit by us, for a for a period of five (5) business days after the notice to you. (2) You are entitled to ask for and receive a copy of any documentation that we used in the investigation of your account.Top