CONSENT TO RECEIVE ELECTRONIC DOCUMENTATION
DISCLOSURE REQUIRED BY FEDERAL LAW
Please read this ELECTRONIC RECORDS DISCLOSURE AGREEMENT
As permitted by law, You hereby authorize Us to electronically provide any
and all documentation (agreements, disclosures, notices, statements, and
the like) related to Our various products and services that You may from
time to time request and/or use. The electronic transmission of such
documentation may be conducted in a variety of means such as: (a) an
electronic message ("e-mail") sent to You at the e-mail address specified
by You (and/or any other address specified by You); (b) Your active
retrieval via the Internet by any Internet access means from a specific
Internet location (identified by Us in an e-mail message sent to You by the
Credit Union); and/or (c) any other means of electronically providing such
documentation. You understand and agree that Your consent will remain in
effect until and unless withdrawn by You either in an electronic message
sent by You to Us or by written request for withdrawal of Your consent sent
by You to the Credit Union. Your withdrawal of consent to receive
documentation in this manner will take effect within a reasonable time
period following the receipt of Your request. This authorization does not
affect Your right to receive such documentation on paper or in a
non-electronic form and You may at any time request that any electronically
provided documentation be provided in a paper or non-electronic form. You
agree to immediately provide Us updated contact information in the event
that Your e-mail address (or any other means You have provided Us to
contact You) becomes unusable or inaccurate for any reason. A description
of the current means used to provide electronic documentation along with
current hardware and software requirements to receive such documentation is
provided to You separately. You will be provided updated information in the
event that We change these methods and/or hardware/software requirements.
To receive electronic records, You understand that the use of a device such
as a personal computer ("PC") or internet enabled mobile computing device
(e.g. smartphone or tablet) that has a graphical user interface, or
"browser," capable of accessing and viewing electronic communications
reasonably expected to reside on and transmit within the Internet will be
required. Additionally, various software, such as that which can view an
electronic file in a portable document file ("pdf") format may be required
to view certain electronic communications. Our system is currently designed
to operate using world wide web technologies and protocols which are
adaptable to a wide variety of end user systems. More specifically, Our
system uses SSL encryption and requires a browser with an appropriate Root
CA Security Certificate and uses 40-128 bit encryption, depending upon the
specific browser being used to access the system. Some browsers may require
an update to their security certificate to properly connect to the system.
NOTICE: Many electronic communications sent and received over the Internet
can be and are often intercepted by unauthorized recipients, beyond the
control of the Credit Union. By authorizing the delivery of documentation
electronically, You understand and agree that, to the extent permitted by
law, the Credit Union cannot and will not be liable for any damages
incident to the unauthorized receipt of electronic communications sent by
or received from You where such unauthorized receipt is beyond the control
of the Credit Union.
REGIONAL FEDERAL CREDIT UNION MEMBERSHIP
To apply for membership with Regional Federal Credit Union You must
complete, sign and return an application for membership.
Your signature on Your application for membership informs the Credit
Union that You would like to join the Credit Union and that You agree
to conform to the Credit Union's Bylaws and Amendments.
Credit Union membership is granted to applicants within Regional
Federal Credit Union's common bond as outlined in the Credit Union's
Charter.
Eligibility also includes spouses of persons who died while within the
field of membership; Credit Union employees; persons retired as
pensioners or annuitants from organizations within the Credit Union's
common bond; and
organizations of such persons. By signing Your application for
membership, You acknowledge receipt of these Agreements and
Disclosures, including the terms and conditions which apply to Your
Accounts.
FAMILY MEMBERSHIP
Credit Union members in good standing and whose status is currently
within the Credit Union's common bond (as outlined therein) may sponsor
immediate family members and possibly other members of Your household
for Credit Union membership. Eligible family members may include for
instance: father, mother, brother, sister, son, daughter, grandmother,
grandfather and spouse (which may include anyone living in Your
residence that You maintain a single economic unit with).
ACCOUNT AGREEMENT
YOU AGREE AND ACKNOWLEDGE THAT THIS AGREEMENT CONTROLS YOUR ACCOUNT(S)
WITH REGIONAL FEDERAL CREDIT UNION, TOGETHER WITH ANY OTHER RELATED
DOCUMENT SUCH AS OUR FUNDS AVAILABILITY POLICY AND ELECTRONIC SERVICES
AGREEMENT AND/OR AGREEMENTS AND DISCLOSURES, ALL OF WHICH, TO THE
EXTENT APPLICABLE, ARE INCORPORATED INTO THIS AGREEMENT BY REFERENCE.
ACCOUNT OWNERSHIP
JOINT ACCOUNTS.
If Your Account is owned jointly, then all funds on deposit are owned
by any of the joint Owners with right of survivorship. The joint Owners
of the Accounts hereby agree with each other and with Us that all sums,
whenever paid into the Accounts by any or all of the joint Owners to
the credit of the joint Owners with all accumulations thereon, are and
shall be owned by them jointly, with right of survivorship and be
subject to the withdrawal or receipt of any of them, and payment to any
of them or the survivor or survivors shall be valid and discharge Us
from any liability for such payment. You authorize Us to recognize any
of the signatures subscribed in Your application for membership for the
payment of funds or the transaction of any business for the Accounts.
We can release or pay any amount on deposit in Your Account to any
Owner. We can honor checks, withdrawals, orders or requests from any
Owner. All Owners are liable to Us for any overdrafts that may occur on
Your Account, regardless of whether or not a benefit occurred and
checks cashed against any Account are subject to collectability from
such Account if returned unpaid. Any Owner may provide Us written
notice to freeze funds on deposit and We may, at Our option, honor such
written request. If We do, then the Account will remain frozen until We
receive subsequent written notice signed by all Owners of the Account
as to a disposition of funds on deposit. Any or all of the joint owners
may pledge all or any part of the shares in the Accounts as collateral
security to a loan or loans and any funds on deposit may be utilized to
satisfy any debt or garnishment of any Owner of the Account. The right
or authority of the Credit Union under these Agreements And Disclosures
shall not be changed or terminated by said owners or any of them except
by written notice to Us, which shall not affect transactions made prior
to such notice. It is the responsibility of joint account Owners to
determine any legal effects of opening and maintaining a joint account.
CUSTODIAL ACCOUNTS.
Any custodial Account is subject to the Indiana Uniform Transfers To
Minors Act and it is Your responsibility to determine any legal effects
related to this type of Account. You understand and agree that the gift
of money to the minor named at the time You open such Account includes
all dividends thereon and any future additions thereto, is irrevocable
and is made in accordance with and is to include all provisions of the
Indiana Uniform Transfers
to Minors Act as it is now or hereafter amended. The age of delivery to
custodian FBO minor shall be upon the age of 21 unless otherwise
specified by the custodian under the Indiana Uniform Transfers to
Minors Act.
TRUST ACCOUNTS.
Trust Accounts will only be opened by the Credit Union if the Trust
documentation presented by You to the Credit Union is in a manner
acceptable to Our underwriting policies. It is Your responsibility to
determine and understand any legal effects related to this type of
Account. We require all Trust Accounts to name a beneficiary. You agree
that all sums, whenever paid to the Trust Account, shall be held by the
Trustee(s) in trust for the beneficiary(ies) named, subject to the
right of the Trustee(s) to revoke the same in whole or in part by, and
to the extent of, the withdrawal of sums from the Account. Upon the
death of the Trustee (or if more than one, upon the death of the last
surviving Trustee), the balance remaining in the Account shall be
distributed by the Credit Union to the beneficiary or, if there is more
than one beneficiary, then to the beneficiaries then living in equal
shares unless otherwise designated in the Trust documentation. Where
more than one Trustee appears on the Account, withdrawals and the
pledge of shares against loans may be made by any Trustee acting alone
(unless two signatures are required). Shares paid in by the Trustees
shall be owned equally. Upon the death of one Trustee, all rights in
and to the Account shall belong to any surviving Trustee. In the event
of conflicting demands for funds under the Account, the Credit Union
may require the signatures of each of the Trustees. For Revocable and
Living Trust Accounts, the individual establishing the Trust (the
"Settlor") must be a member of the Credit Union and, any withdrawal of
Trust Account funds will be deemed a revocation of the Trust to the
extent of any such withdrawal unless otherwise provided for in the
Trust documentation. If the Account Designation shows a payable on
death status, any Beneficiary has rights to the Account: (a) if the
Beneficiary is a natural person, only if the Beneficiary is alive and
only if the Settlor is deceased;
(b) if the Beneficiary is a charity or other non-profit organization,
only if the charity or non-profit organization is in operation as a
validly constituted, registered and/or licensed entity under applicable
state law, and only if the Settlor is deceased. If the Beneficiary dies
(in the case of a natural person), or is no longer in operation as a
validly constituted, registered and/or licensed entity under applicable
state law (in the case of a charity or non-profit organization), the
Trust is terminated. The Settlor may change the Beneficiary at any time
by providing Us adequate proof of such change in a manner acceptable to
the Credit Union. If at any time, the Trustee is deemed incompetent by
a court of legal jurisdiction or is unable or unwilling to serve, the
Trust documentation shall determine the successor Trustee.
AUTHORIZED SIGNERS.
If You establish Your Account with authorized signers, or you
subsequently appoint any authorized signers, You understand and agree
that the Credit Union will not at any time be liable for the actions of
such authorized signers and/or be obligated to ensure that their
actions are in accordance with any instructions You have provided to
them. Any appointment of an authorized signer, together with any
subsequent revocation or change must be in writing and in a form
acceptable to Us. It is Your responsibility to determine any legal
effects related to Your appointing any authorized signers on Your
Account.
PAYABLE-ON-DEATH STATUS.
If the Account Designation shows a payable- on-death status, any
Beneficiary has rights to the Account: (a) if the Beneficiary is a
natural person, only if the Beneficiary is alive and only if You and
any joint Owners are deceased; (b) if the Beneficiary is a charity or
other non-profit organization, only if the charity or non-profit
organization is in operation as a validly constituted, registered
and/or licensed entity under applicable state law, and You and any
joint Owners are deceased. Upon Your death and the death of any joint
Owners, the funds on deposit will be paid to the beneficiary(ies) of
record in equal shares unless You designated otherwise. If, however,
none of the payable-on-death beneficiaries You named is alive (or in
operation as a validly constituted, registered and/or licensed entity
under applicable state law in the case of a charity or non-profit
organization) at Your death, the funds will be paid to the party or
parties as required by applicable law. It is the responsibility of all
Account Owners to determine any legal effects of opening and
maintaining an Account with payable-on-death status.
FIDUCIARY ACCOUNTS.
If Your Account is established as a fiduciary Account, You warrant that
You are authorized to open a fiduciary Account and understand that such
Accounts will only be opened by the Credit Union if the documentation
presented by You to the Credit Union is in a manner acceptable to Our
underwriting policies. In no event will the Credit Union be liable for
the actions of the fiduciary and/or obligated to ensure that the
fiduciary's actions are in accordance with any instructions that have
been provided to them. It is Your responsibility to determine and
understand any legal effects related to this type of Account.
ARBITRATION.
Any controversy or claim arising out of or relating to these Agreements
and Disclosures, or the breach thereof, shall be settled by arbitration
administered by the American Arbitration Association in accordance with
its Arbitration Rules and judgment on the award rendered by the
arbitrator(s) may be entered in any court having jurisdiction thereof.
All parties hereby waive and give up all rights to a jury trial or
class action relief.
INDEMNITY.
You agree to indemnify and hold harmless the Credit Union and their
successors and assigns, from any claim, action, liability, loss, damage
or suit, arising out of any action or inaction on Our part in
connection with these Agreements And Disclosures and/or Your failure to
abide by its terms. In the event of any claim made by or against Us, We
shall provide You with reasonable and timely notice of such claim, and
thereafter You shall at Your own expense promptly defend, indemnify,
protect and hold harmless the Credit Union against said claim or any
loss or liability thereunder. In the event You fail to defend and/or
indemnify and hold Us harmless, then in such instance We shall have
full rights to defend, pay or settle said claim on Your behalf without
notice to You and with full right of recourse against You for all fees,
costs, expenses and payments made or agreed to be paid to discharge
said claim. You further agree to pay all reasonable attorneys' fees
necessary to enforce such provision. Such indemnity shall be unlimited
in amount and duration and be binding upon and inure to the benefit of
all parties, their successors, assigns and personal representatives.
POWER OF ATTORNEY
. If You name a person to act as Your attorney-in-fact or agent in any
way with Your Account, We are only obligated to deal with such person
if We, in Our sole judgment, approve of the form of appointment and the
supporting documentation.
DEPOSIT OF ITEMS.
You may make deposits to Your Account using any method available from
Us, including deposits in person, by mail or electronic means. We have
the right to refuse to accept any check or instrument for deposit at
Our sole discretion. If You deposit an item and it is returned unpaid,
We will debit Your Account for the amount of the item and charge You a
fee. You will be liable to Us for the amount of any item You deposit
which is returned unpaid, and in addition, will be responsible for any
of Our costs and expenses incurred in the collection of such returned
item from You, including reasonable attorneys' fees. Subject to Our
Funds Availability Policy, You may not be able to withdraw funds
from Your Account until We have received final settlement for any items
deposited. If You make a deposit on a Saturday, Sunday, or a holiday,
or after Our predetermined cut-off hour on business days, the deposit
will be credited to Your Account as of the next business day.
COLLECTION AND PROCESSING OF ITEMS.
In processing items You have deposited for collection, We are only Your
agent and assume no responsibility beyond the exercise of ordinary
care. Any item deposited is subject to final settlement in cash or
credit. We may use any method We feel is appropriate to collect items,
which may include use of a Federal Reserve Bank. We are not responsible
for the acts of any third party We use for the collection of items
including responsibility for lost items. If We use a local
clearinghouse in the collection of items, You authorize Us to do so and
to act in accordance with any applicable rules and regulations. We may
permit You to withdraw funds from Your Account before final settlement
has been made, however, if final settlement is not made, We have the
right to charge Your Account or otherwise require You to repay such
funds. In processing items presented for payment on Your Account, We
will pay such items each business day in an order of Our choosing, all
of which means that the transactions may not be processed in the order
in which they occurred and that You could incur multiple fees in a
single day should there be insufficient funds to pay all items
presented that day.
OVERDRAFT PROTECTION.
To the extent permitted by law, You authorize Us to transfer funds from
other Accounts You may have with Us in necessary multiples (or in such
increments as We may from time to time determine) to Your Account to
cover any overdraft. If You have a line of credit with Us, transfers
will be made first from Your primary share Account, provided You have
enough available funds in that Account, then from Your line of credit
up to Your available credit limit, and then We may elect to pay such
overdraft, subject to any preference You have indicated to Us for
clearing any overdraft(s). Overdraft transfers are subject to a
transfer fee. You hold Us harmless from any and all liability which
might otherwise exist if a transfer does not occur.
OVERDRAFTS.
You understand and agree that We may from time to time, and at Our sole
discretion, pay certain items in order to cover an overdraft, and
charge You a fee for doing so. You further understand that payment of
any overdrafts will be made in an order of Our choosing. You hold Us
harmless from any and all liability which might otherwise exist if We
do not pay an overdraft. If You would like to opt-out, that is, if You
would prefer We not pay any check that would overdraw Your share draft
Account, You may opt-out by writing to Us at the address in this
Agreement or by calling Us at the telephone number shown in this
Agreement and informing Us of Your intention to opt-out.
NOTICE OF RECEIPT OF ACH ITEMS.
Under the operating rules of the National Automated Clearing House
Association which are applicable to ACH transactions involving your
account and as permitted by law, We are not required to give You next
day notice of receipt of an ACH item, and We will not do so. We will
continue to notify You of the receipt of payments in the periodic
statements We provide to You.
PROVISIONAL PAYMENT (ACH ORIGINATION).
Credits given by any Receiving Depository Financial Institution to the
receiver with respect to any automated clearing house credit entries
subject to Article 4A of the Uniform Commercial Code (UCC-4A), are
provisional until the Receiving Depository Financial Institution has
received final settlement through a Federal Reserve Bank, or has
otherwise received payment as provided in §4A-403(a) of UCC-4A. If
the Receiving Depository Financial Institution does not receive such
final settlement or payment, then they shall be entitled to a refund
from the receiver of the amount so credited, and We shall not be deemed
to have paid the receiver the amount of such entry.
PROVISIONAL PAYMENT (ACH RECEIPT).
Credit given by Us to You with respect to any automated clearing house
credit entry is provisional until We receive final settlement for such
entry through a Federal Reserve Bank. If We do not receive final
settlement, You are hereby notified and agree that We are entitled to a
refund of the amount credited to You in connection with such entry, and
the party making payment to You via such entry (i.e., the originator of
the entry) shall not be deemed to have paid You the amount of such
entry.
CHOICE OF LAW.
We may accept payments on Your behalf for Your account which have been
transmitted through one or more Automated Clearing Houses ("ACH") and
which are not subject to the Electronic Fund Transfer Act. Your rights
and obligations with respect to such payments shall be construed in
accordance with and governed by the laws of the State of New York as
provided by the operating rules of the National Automated Clearing
House Association, which are applicable to ACH transactions involving
your account.
EXPENSES.
If We incur any costs or expenses as a result of any attachment,
garnishment or levy against Your Account, You will reimburse Us for
such costs or expenses or We may charge them to Your Account.
INACTIVE OR DORMANT ACCOUNTS.
Inactive Accounts (Accounts with no withdrawals or deposits within a
one-year period) may be subject to an Inactive Account Fee. If no
activity occurs in Your account within the time period specified by
applicable state law, the property in Your account may be subject to
transfer to the appropriate state authority ("escheatment"). We have no
liability if Your Account becomes dormant and is therefore subject to
escheatment in accordance with applicable state law.
LIEN IMPRESSMENT AND SET-OFF.
You agree that We may impress and enforce a statutory lien upon Your
Accounts with Us to the extent You owe Us any money and We may enforce
Our right to do so without further notice to You. We have the right to
set-off any of Your money or property in Our possession against any
amount You owe Us. The right of set-off and Our impressed lien does not
extend to any Keogh, IRA or similar tax deferred deposit You may have
with Us. If Your Account is owned jointly, Our right of set-off and Our
impressed lien extends to any amount owed to Us by any of the joint
Owners.
CREDIT REPORTING NOTICE.
We may report information about your account to credit bureaus. Late
payments, missed payments, or other defaults on your account may be
reflected in your credit report.
MINIMUM BALANCE REQUIREMENTS, FEES AND SERVICE CHARGES.
You agree to pay Us any applicable fees or charges, and are responsible for
any minimum balance requirements and deposit requirements called for in
Our Agreements and Disclosures provided to You when You opened Your
Account. In any case and with proper notice to You, fees, charges,
balance requirements and deposit requirements may be changed by Us from
time to time.
SUSPENSION OF SERVICES.
We have the right to suspend the benefit of any Credit Union service at
any time for reasonable cause. At Our discretion, We also have the
right to pay any share draft presented for payment from Your Account
after Your Account is closed or suspended and to recover such amount
paid from You. Account services are available to those members in good
standing with the Credit Union. We reserve the right to cancel or
suspend services to a member who is not in good standing, which
includes members that have: (a) a delinquent loan; (b) a primary share
Account balance below the $5.00 minimum; (c) an unresolved deposited
returned check; (d) any unpaid and uncollected fees; or (e) a negative
balance on an Account.
ASSIGNABILITY.
You may not assign or transfer any interest in Your Account.
AGREEMENTS AND DISCLOSURES.
The Agreements and Disclosures provided to You at the time You opened
Your Account and referred to throughout this Agreement, contain: (a) a
list of fees and charges applicable to Your Account; (b) the dividends
and applicable Annual Percentage Yield (APY); (c) how dividends are
credited or compounded; and (d) other pertinent information related to
Your Account. Your Agreements and Disclosures may be amended by Us from
time to time in a manner as prescribed by law.
STOP PAYMENTS
You may ask Us orally to stop payment on a share draft. For any such
request to remain valid, however, You must also supply Us with a
written request within 14 days after You make any such oral request.
Stop payment requests are also subject to the terms and conditions of
the Order For Stop Payment form related to any such request. Your
request must be given to Us in a timely manner so that We have a
reasonable opportunity to act on Your request. A written stop payment
request is effective for six months. If at the end of 6 months You
request Us to continue the stop payment order, that request will be
treated as a new request. We are not liable if We pay a share draft
which You have requested Us to stop payment on as long as We act in
good faith and exercise ordinary care.
In any event, any damages that We might otherwise be liable for shall
not exceed the amount of the involved share draft. If We do pay a share
draft for which You have requested stop payment and as a result any
other item is returned unpaid by Us due to nonsufficient funds, We are
not liable for any consequences resulting from such action. If Your
Account is a joint Account, any Owner of the Account may request a stop
payment. Any release of a stop payment order must be made by the person
who made the request. If You ask Us to stop payment on a pre-authorized
transfer, Your request will be processed under the provisions of Our
Electronic Fund Transfer Agreement with You.
You may also ask Us to replace a lost, destroyed or stolen cashier's,
teller or certified check and if You do, You agree to execute a
declaration of loss and claim for reimbursement form together with any
other documentation We may require, such as an affidavit. Regardless of
the type of documentation presented to Us, the request must be in a
form acceptable to the Credit Union and given to Us in a timely manner
so that We have a reasonable opportunity to act on such request. Such
declaration of loss and claim for reimbursement will not become
effective until the later of: (a) the 90th day after the
date of the check (or 90th day
following the date of acceptance, in the case of a certified check); or
(b) the date We receive the declaration of loss and claim for
reimbursement together with any other required documentation.
SHARE DRAFTS AND OTHER ACCOUNT ACCESS DEVICES.
Any share draft or other Account access device which does not meet Our standards for
acceptance may be rejected by Us, whether such standards are
established by law, regulation or Our own policy.
POSTDATED, STALE OR OVERDRAFT SHARE DRAFTS.
You understand that postdating a share draft will have no effect on whether or not it
is honored prior to or after the date of any such share draft. A stale
share draft is any share draft received by Us that is dated 6 months or
more prior to the date of receipt. We may pay or refuse to pay any
postdated, stale or overdraft share draft, or other item presented for
payment on Your Account without any liability.
SHARE DRAFT SAFEKEEPING.
Share draft Safekeeping is automatic on Your Account and Your cancelled
share drafts will not be returned to You. You understand that cancelled
share drafts retained by Us are later destroyed after a reasonable
period of time. If You subsequently request a copy of a share draft and
We are unable to supply it, then We shall not be liable for any damage
You may sustain in excess of the face amount of the involved share
draft.
PERIODIC STATEMENTS.
You will be provided with a periodic statement showing activity on Your
Account. If You believe any statement reflects discrepancies, You must
notify Us of such discrepancies within 60 days from the date We mailed
the statement to You. If the discrepancy noted is the result of an
electronic fund transfer, then the provisions of Our Electronic Fund
Transfer Agreement with You will control resolution of the matter.
AMENDMENTS.
This Agreement may be amended by Us at any time, in which case We will
provide You with a notice of amendment as required by law or
regulation.
NOTIFICATION OF ADDRESS CHANGE.
You will notify Us promptly in writing with Your signature if You move
or otherwise have a change of address. In the event We are unable to
locate You, You agree to pay all fees associated with maintaining an
invalid address in Our records and any costs and locator fees incurred
in Our locating efforts.
WAIVERS.
You agree and understand that Our failure or delay to exercise any
right, remedy, power, or privilege available to Us pursuant to this
Agreement shall not affect or disallow Our future exercise of that
right, remedy, power or privilege.
ELECTRONIC COMMUNICATIONS.
By applying for membership in the Credit Union, You authorize Us to
send You, from time to time, and to the extent permitted by applicable
law, electronic communications regarding the status of any share, share
draft, and/or term Account(s) You maintain with Us. You also authorize
Us to send You electronic communications regarding any other accounts
you may maintain with Us from time to time including, but not limited
to, loan accounts, credit line accounts, and credit card accounts.
These electronic communications are sometimes referred to as
"transactional or relationship messages."
You authorize Us to contact You using any wireless, cellular, mobile or
other telephone number You have provided to Us on Your membership
application, and at any wireless, cellular, mobile or other telephone
number You may furnish to Us or We may obtain for You in the future. We
may contact You using any electronic means We choose, which may include
but is not limited to, voice messages, text messages and other similar
electronic methods of communication. If you have furnished Us with any
e-mail address(es), you understand and agree that We may send You
e-mail messages regarding Your Account(s) with Us from time to time. If
you have or subsequently enter into any separate consent to receive
electronic documentation form, any communications covered by such
disclosure and consent shall be subject to the terms and conditions set
forth in that disclosure and consent.
You understand that the nature of electronic communications is such
that anyone with access to Your wireless, cellular, mobile or other
telephonic device or e-mail may be able to read or listen to such
transactional or relationship messages from Us, and You agree that any
person or party sending or leaving such messages shall have no
liability for any consequences resulting from the interception of such
messages by any other party. Without limitation, You also agree that
You are responsible to pay all costs that You may incur as a result of
any contact method We choose including, but not limited to, charges for
telecommunications, wireless and/or internet charges.
GOVERNING LAW.
This Agreement shall be governed by the laws of the State of Indiana,
except to the extent that federal law controls.
ACCOUNT DISCLOSURES
THE FOLLOWING DISCLOSURES CONTAIN IMPORTANT INFORMATION AND THE TERMS
AND CONDITIONS OF ANY ACCOUNT OR ACCOUNTS THAT YOU MAY HAVE WITH US AND
ARE PROVIDED AS REQUIRED BY THE TRUTH-IN-SAVINGS ACT. WHEREVER USED,
"APY" MEANS ANNUAL PERCENTAGE YIELD.
SPECIFIC TERMS APPLICABLE TO YOUR REGULAR SAVINGS ACCOUNT
Tiered Variable Rate Information.
This Account is subject to a Tiered Variable Rate. For the current
dividend rate and corresponding APY, refer to the accompanying Account
Disclosure Rate Supplement which We have included with and made a part
of this Disclosure.
Minimum Balance Requirements.
The minimum balance required to open this Account is $5.00. In order to
earn the disclosed APY, You must maintain a balance that is at least
equal to $200.00 in Your Account each day.
SPECIFIC TERMS APPLICABLE TO YOUR SPECIAL SAVINGS ACCOUNT
Tiered Variable Rate Information.
This Account is subject to a Tiered Variable Rate. For the current
dividend rate and corresponding APY, refer to the accompanying Account
Disclosure Rate Supplement which We have included with and made a part
of this Disclosure.
Minimum Balance Requirements.
In order to earn the disclosed APY, You must maintain a balance that is
at least equal to $200.00 in Your Account each day.
SPECIFIC TERMS APPLICABLE TO YOUR IRA SAVINGS ACCOUNT
Variable Rate Information.
This Account is subject to a Variable Rate. For the current dividend
rate and corresponding APY, refer to the accompanying Account
Disclosure Rate Supplement which We have included with and made a part
of this Disclosure.
Minimum Balance Requirements.
The minimum balance required to open this Account is $10.00. In order
to earn the disclosed APY, You must maintain a balance that is at least
equal to $200.00 in Your Account each day.
Transaction Limitations.
Individual Retirement Accounts (IRAs) are subject to limitations and/or
penalties imposed by the Internal Revenue Service. Please see Your IRA
Agreement or Your tax advisor for additional information.
SPECIFIC TERMS APPLICABLE TO YOUR CHRISTMAS CLUB SAVINGS ACCOUNT
Tiered Variable Rate Information.
This Account is subject to a Tiered Variable Rate. For the current
dividend rate and corresponding APY, refer to the accompanying Account
Disclosure Rate Supplement which We have included with and made a part
of this Disclosure.
Minimum Balance Requirements.
In order to earn the disclosed APY, You must maintain a balance that is
at least equal to $200.00 in Your Account each day.
Transaction Limitations.
Once Your Account is established, You may not make withdrawals from or
transfers to another Account of Yours.
Additional Information.
Subject to the instructions You provide at the time Your Account is
established, the Credit Union will pay to You (on the first business
day of November of each year) the entire balance then on deposit by
either: (i) issuing You a check; or (ii) transferring the amount to any
Account that You designate.
SPECIFIC TERMS APPLICABLE TO YOUR DAILY CASH (DCA) ACCOUNT
Tiered Variable Rate Information.
This Account is subject to a Tiered Variable Rate. For the current
dividend rate and corresponding APY, refer to the accompanying
Commercial Account Disclosure Rate Supplement which We have included
with and made a part of this Disclosure.
Minimum Balance Requirements.
The minimum balance required to open this Account is $2,500.00. In
order to earn the disclosed APY, You must maintain a balance that is at
least equal to $2,500.00 in Your Account each day.
SPECIFIC TERMS APPLICABLE TO YOUR BASIC CHECKING ACCOUNT
Dividend Information.
No dividends are paid on this Account.
Minimum Balance Requirements.
The minimum balance required to open this Account is $5.00.
Transaction Limitations.
No transaction limitations apply to this Account.
SPECIFIC TERMS APPLICABLE TO YOUR CHECKING PLUS ACCOUNT
Tiered Variable Rate Information.
This Account is subject to a Tiered Variable Rate. For the current
dividend rate and corresponding APY, refer to the accompanying Account
Disclosure Rate Supplement which We have included with and made a part
of this Disclosure.
Minimum Balance Requirements.
The minimum balance required to open this Account is $5.00. In order to
earn the disclosed APY, You must maintain a balance that is at least
equal to $1,000.00 in Your Account each day.
Transaction Limitations.
No transaction limitations apply to this Account.
SPECIFIC TERMS APPLICABLE TO YOUR TERM SHARE CERTIFICATE ACCOUNT AND
IRA TERM SHARE CERTIFICATE ACCOUNT
Fixed Rate Information.
These Accounts are subject to a Fixed Rate. For the current dividend
rate and corresponding APY, refer to the accompanying Account
Disclosure Rate Supplement which We have included with and made a part
of this Disclosure.
Minimum Balance Requirements.
For the minimum balance required to open these Accounts, refer to the
accompanying Account Disclosure Rate Supplement. You must maintain a
balance equal to the minimum balance required to open Your Account each
day to obtain the disclosed APY and to keep Your Account open.
Transaction Limitations.
Once Your Account is established, You may not make additional deposits
into Your Account. Individual Retirement Accounts (IRAs) are also
subject to limitations and/or penalties imposed by the Internal Revenue
Service. Please see Your IRA Agreement or Your tax advisor for
additional information.
Maturity Date.
Your Account will mature after the term indicated on the accompanying
Account Disclosure Rate Supplement.
Early Withdrawal Provisions.
We will impose a penalty if You withdraw any funds before the maturity
date. For Accounts with a term to maturity less than 6 months, the
penalty imposed will equal 90 days' dividends. For Accounts with a term
to maturity equal to or greater than 6 months, but less than 18 months,
the penalty imposed will equal 180 days' dividends. For Accounts with a
term to maturity equal to or greater than 18 months, but less than 30
months, the penalty imposed will equal 240 days' dividends. For
Accounts with a term to maturity equal to or greater than 30 months,
the penalty imposed will equal 270 days' dividends.
Renewal Policies.
Your Account will renew automatically at maturity, You will have a
10-calendar day grace period following the Maturity Date to make
withdrawals and/or deposits without penalty.
SPECIFIC TERMS APPLICABLE TO YOUR SAVE TO WIN TERM SHARE CERTIFICATE
ACCOUNT
Fixed Rate Information.
These Accounts are subject to a Fixed Rate. For the current dividend
rate and corresponding APY, refer to the accompanying Account
Disclosure Rate Supplement which We have included with and made a part
of this Disclosure.
Minimum Balance Requirements.
For the minimum balance required to open these Accounts, refer to the
accompanying Account Disclosure Rate Supplement. You must maintain a
balance equal to the minimum balance required to open Your Account each
day to obtain the disclosed APY and to keep Your Account open.
Transaction Limitations.
Once Your Account is established, You may make a single withdrawal
prior to the maturity date, subject to the Early Withdrawal Provisions.
Any subsequent withdrawal prior to the maturity date will result in
closure of Your Account.
Maturity Date.
Your Account will mature after the term indicated on the accompanying
Account Disclosure Rate Supplement.
Copyright Oak Tree Business Systems, Inc., 2016. All Rights Reserved.
Page 4 of 11 OTBS T44 REGI (10/16)
ACCOUNT DISCLOSURES
Early Withdrawal Provisions.
We will impose a penalty if You withdraw any funds before the maturity
date. The penalty imposed will equal the greater of:
(i) $25.00; or (ii) an amount equal to 7-days' dividends calculated on
the amount withdrawn.
Renewal Policies.
Your Account will renew automatically at maturity, You will have a
10-calendar day grace period following the Maturity Date to make
withdrawals without penalty.
SPECIFIC TERMS APPLICABLE TO YOUR HEADSTART TERM SHARE CERTIFICATE
ACCOUNT
Fixed Rate Information.
These Accounts are subject to a Fixed Rate. For the current dividend
rate and corresponding APY, refer to the accompanying Account
Disclosure Rate Supplement which We have included with and made a part
of this Disclosure.
Minimum Balance Requirements.
For the minimum balance required to open these Accounts, refer to the
accompanying Account Disclosure Rate Supplement. You must maintain a
balance equal to the minimum balance required to open Your Account each
day to obtain the disclosed APY and to keep Your Account open.
Transaction Limitations.
Once Your Account is established, any additional deposits into Your
Account must be in increments of $25.00, and may not exceed, in the
aggregate, $1,000.00.
Maturity Date.
Your Account will mature after the term indicated on the accompanying
Account Disclosure Rate Supplement.
Early Withdrawal Provisions.
We will impose a penalty if You withdraw any funds before the maturity
date. The penalty imposed will equal 180 days' dividends.
Renewal Policies.
Your Account will renew automatically at maturity, You will have a
10-calendar day grace period following the Maturity Date to make
withdrawals and/or deposits without penalty.
GENERAL TERMS APPLICABLE TO ALL ACCOUNTS
Member in Good Standing.
The Account services described in these Agreements And Disclosures are
available to those members in good standing with the Credit Union. We
reserve the right to suspend services to a member who is not in good
standing, which includes members that have:
• a delinquent loan.
• a primary share Account balance below the $5.00 minimum.
• an unresolved deposited returned check.
• unpaid and uncollected credit union fees.
• a negative balance on an Account.
Minimum Balance Requirements.
To be a member and maintain Accounts with Us You must purchase 1 share
in the Credit Union. The par value of a share in this Credit Union is
$5.00. If the balance in Your primary share Account drops below 1 share
($5.00), at any time, We may, at Our option, close Your Account.
Nonsufficient Funds Returns.
Any share draft or pre-authorized transfer, or transaction made through
the use of a debit card, or other electronic means, as is applicable
(including any in-person transaction), that is presented to Us for
payment on Your Account when Your Account lacks sufficient collected
funds to pay any such item may, at Our option, be returned for
nonsufficient funds or We may honor any such item and charge You a fee
for doing so.
Overdraft Balance Calculation.
When processing transactions that debit or credit Your Account, We
start each Business Day with Your final Account balance from the
preceding Business Day. The final balance takes into account all of the
debit and credit transactions that were settled that Business Day
pursuant to Our Funds Availability Policy, as well as any other debits
or credits to Your Account that were finally settled that day, as
described above in the "Deposit of Items" and "Collection and
Processing of Items" sections of the Account Agreement. This starting
balance at the beginning of a Business Day (the preceding Business
Day's final balance) is sometimes referred to as Your "actual balance."
As credits and debits to Your Account are received by Us, We add them
to and subtract them from Your actual balance. Examples of credits
include, but are not limited to, electronic direct deposits, check
deposits that have been fully and finally collected, ACH credits that
have settled that day, and cash deposits made to one of Our tellers.
Examples of debits include, but are not limited to, checks drawn on
Your Account that are presented to Us for payment, electronic fund
transfer (EFT) debit transactions (such as preauthorized payments and
settled EFT debits), memo-posted EFT debits (EFT debits that We have
authorized but which have not been settled), and Credit Union fees and
charges. The result of this calculation at any given point in time is
called Your "available balance."
For the purpose of determining whether an overdraft has occurred, We
use Your available balance. First, we add all of the settled credit
transactions to the beginning actual balance. Then, We subtract all of
the debit transactions that settled that day. We also subtract all of
the pending debit transactions. This determines the available balance
for overdraft purposes. Each debit transaction that We process when
Your Account has a negative available balance is an overdraft, subject
to an overdraft charge.
Subject to applicable law, You are responsible for paying any overdraft
fees and charges assessed in connection with Our payment of an
overdraft, as well as any NSF fees charged to Your Account when we
dishonor and return an item for non- sufficient funds. It is Your
responsibility to know Your Account balance, and if You have any
questions You should contact a Credit Union representative.
Withdrawal of Dividends Prior to Maturity.
For all term Accounts, the Annual Percentage Yield assumes dividends
remain on deposit until maturity. A withdrawal will reduce earnings.
Additional Transaction Limitations.
For all Accounts (except share draft Accounts), during any calendar
month, You may not make more than six withdrawals from or transfers to
another Credit Union Account of Yours or to a third party by means of a
pre-authorized or automatic transfer or telephonic order or
instruction. No more than three of the six can be made by check, draft,
debit card, if applicable, or similar order to a third party. If You
exceed these limitations, Your Account may be subject to closure by the
Credit Union.
For all Accounts (except share draft Accounts), the Credit Union
reserves the right to require a member intending to make a withdrawal
to give written notice of such intent not less than 7 days and not more
than 60 days before any such withdrawal.
Nature of Dividends.
All dividends are paid from current income and available earnings,
after required transfers to reserves at the end of a dividend period.
Variable Rate Information.
For all variable-rate Accounts, the dividend rate and APY may change at
any time based on the determination of the Credit Union's Board of
Directors.
Compounding and Crediting.
For all dividend bearing Accounts, dividends will be earned daily for
each day on which Your balance exceeds the minimum balance requirement
for Your Account. For all dividend bearing Accounts, the dividend
period is monthly and dividends will be compounded and credited to Your
Account monthly. Except for share draft and term share certificate
Accounts, We will not pay any accrued yet uncredited dividends as the
time You close Your Account.
Balance Computation Method.
For all dividend bearing Accounts, dividends are calculated by the
daily balance method which applies a periodic rate to the balance in
the Account each day.
Accrual on Noncash Deposits.
For dividend-bearing Accounts, dividends will begin to accrue on the
business day that You deposit noncash items (e.g. checks) into Your
Account.
Fees and Charges.
Any fees and charges applicable to Your Account are disclosed on the
accompanying schedule of fees and charges provided in conjunction with
these Agreements and Disclosures.
ELECTRONIC SERVICES AGREEMENT AND DISCLOSURE
THIS IS YOUR ELECTRONIC SERVICES AGREEMENT AND DISCLOSURE. IT INCLUDES
NECESSARY FEDERAL STATEMENTS AS REQUIRED BY THE ELECTRONIC FUND
TRANSFER ACT (15 U.S.C. SECTION 1693 ET SEQ) AND ANY SPECIAL
INSTRUCTIONS REGARDING THE USE OF YOUR VISA CHECK CARD, AND OUR AUDIO
RESPONSE SYSTEM ("PAL"), OUR INTERNET ACCOUNT ACCESS SYSTEM ("HOME
BANKING"), OUR INTERNET ACCESSIBLE BILL PAYMENT SYSTEM ("BILL PAYER"),
EACH WITH THEIR CORRESPONDING PERSONAL IDENTIFICATION NUMBER (PIN) OR
ACCESS CODE, AND ANY CHECKS YOU AUTHORIZE TO BE PROCESSED
ELECTRONICALLY ("E-CHECK").
VISA CHECK CARD, PAL, HOME BANKING, BILL PAYER, AND E-CHECK
AGREEMENT.
This Agreement applies to any electronic fund transfer made to
or from Your Account(s) by You or by any user who has access to Your
Account with actual, apparent or implied authority for use of Your
Account. Electronic fund transfers to and from Your Account can be made through the use of, but
may not be limited to the following: (a) Your Card in Automated Teller
Machines (ATMs) or at any place that it is honored including those
transactions made through the use of the appropriate PIN in conjunction
with Your Card; (b) Our PAL system;
(c) Our Home Banking system; (d) Our Bill Payer system; and (e) any
check which You authorize the payee to process electronically. An
electronic fund transfer is any transfer of funds which is performed
through the use of Your Card, Our PAL system, Our Home Banking system,
Our Bill Payer system, E-Check or other electronic device. You
understand that Your Card and any Personal Identification Numbers
(PINs) or Access Codes are issued by Us and are not transferable. The
use of Your Card, PIN and/or any other Account access device is subject
to the following terms. You agree: (a) to abide by Our rules and
regulations as amended related to the use of Your Card, PIN and/or
other Account access device; (b) that We may follow all instructions
given to Machines;
(c) not to use Your Card for illegal transactions including, but not
limited to, advances made for the purpose of gambling and/or wagering
where such practices are in violation of applicable state and/or
federal law; and (d) that each withdrawal by You or by any authorized
user of Your Card or PIN may be charged to Your share or share draft
Account, as appropriate, and will be treated as though it were a share
withdrawal except that: (1) We may charge withdrawals to Your share
Account in any order We determine; and (2) We cannot honor stop payment
requests on ATM and POS withdrawals.
We may, but are under no obligation to do so, process an Electronic
Fund Transfer that exceeds the balance in Your share and/or share draft
Account. In the event that any such transfer occurs, You agree to
immediately pay Us the overdrawn amount and to the extent permitted by
law, any associated fees and charges. For security reasons there are
limits on the number of transactions that may be processed each day.
ISSUANCE OF PERSONAL IDENTIFICATION NUMBERS AND ACCESS
CODES.
You will be issued a Personal Identification Numbers (PIN) to be used
in conjunction with VISA Check Card transactions, and separate Access
Codes to be used in conjunction with PAL, Home Banking and Bill Payer
transfers. Your use of Your PIN or Access Code is Your authorization to
Us to withdraw funds from Your share Account or Your share draft
Account to cover such transactions.
OWNERSHIP.
Your Card or any other Account access device will remain Our property
and may be cancelled or its use restricted by Us at any time without
notice. You agree to surrender it and to discontinue its use
immediately upon Our request.
OTHER AGREEMENT.
If electronic fund transfer transactions involve other agreements You
have with Us, the terms of those agreements will apply as well.
BUSINESS DAYS.
Every day is a business day except Saturdays, Sundays and holidays.
DELAYED FUNDS AVAILABILITY NOTICE
. Subject to Our Delayed Funds Availability Policy, deposits made at
Regional Federal Credit Union locations may not be posted to Your
Account until they are received and verified by Us. All deposited items
are removed from machines each business day. We are not responsible for
delays in deposit posting due to improper identification on the deposit
envelope. See Our Funds Availability Policy Disclosure for Our policy
regarding the availability of Your deposits.
TYPES AND LIMITATIONS OF SERVICES
VISA CHECK CARD TRANSACTIONS.
You may use Your Card in conjunction with Your PIN in any of Our
network of ATMs and such other machines or facilities as We may
designate, to deposit cash and checks to Your share and share draft
Account(s). You may also use Your Card in conjunction with Your PIN in
any of Our network of ATMs and such other machines or facilities as We
may designate to make the following transactions: (a) withdraw cash
from Your share and share draft Account(s); (b) transfer funds between
Your share and share draft Account(s); and (c) make balance inquiries
on Your share and share draft Account(s) with Us. Withdrawals and
transfers may not exceed $410.00 per day (share, share draft and line
of credit combined), subject to the available funds in Your Account.
You may also use Your Card in conjunction with Your PIN to purchase
goods and services ("POS") at any business establishment where the Card
is accepted. POS transactions may not exceed $1,500.00 per day (share,
share draft and line of credit combined), subject to the available
funds in Your Account.
PAL TRANSACTIONS.
At the present time, You may use PAL in conjunction with Your Access
Code and a touch tone telephone for the following services: (a)
transfer funds between Your share and share draft Account(s) and Credit
Union line of credit accounts; (b) obtain information on Your share and
share draft Accounts; and (c) make loan payments from Your share and share draft
Accounts on Your loans with Us. PAL operates 24 hours every day. If You
attempt to use the system and are told that "the system is not
available," please try again later when service is restored.
HOME BANKING TRANSACTIONS.
You may use Home Banking in conjunction with Your Access Code, an
internet connection and a personal computer for the following services:
(a) transfer funds between Your share and share draft Account(s) and
Credit Union line of credit accounts; (b) obtain information on Your
share and share draft Accounts; and (c) make loan payments from Your
share and share draft Accounts on Your loans with Us. Home Banking
operates 24 hours every day. If You attempt to use the system and are
told that "the system is not available," please try again later when
service is restored.
BILL PAYER TRANSACTIONS.
You may use Bill Payer in conjunction with Your Access Code, an
internet connection and a personal computer to: (a) authorize the
Credit Union to issue payments on Your behalf; and (b) check the status
of payments previously authorized through Bill Payer. In order to use
Bill Payer for such transactions, You must have a share draft Account
with Us. By completing a Bill Payer transaction, You authorize Us to
post any such payments to Your share draft Account. Payments will be
made by check or electronic transfer and will be sent to the payee on
the business day You designate it be sent, except to the extent that
such payment request must be received not later than the current
business day in order for it to be sent that same day. If You schedule
a payment to be paid before 2:00 p.m. on a business day that We are
open, We will consider that day to be the day of Your request. However,
if You schedule a payment to be paid after 2:00 p.m. or on a day We are
not open, We will consider that the request was made on the next
business day We are open. The Credit Union cannot guarantee the time
any payment will reach any of Your payees and accepts no liability for
any service fees or late charges levied against You. Payments requested
to be sent on dates that do not exist in a given month (e.g. February
30th or April 31st), or fall on Saturdays, Sundays, federal reserve and
other Credit Union observed holidays will also be sent on the next
business day.
E-CHECK TRANSACTIONS
. You may authorize a merchant or other payee to make a one-time
electronic payment from Your checking Account using information from
your check ("E-Check") to: (a) pay for purchases; or (b) pay bills.
OWNERSHIP.
Your Card and/or any other Account access device will remain Our
property and may be cancelled or its use restricted by Us at any time
without notice. You agree to surrender it and to discontinue its use
immediately upon Our request. You will be required to return any
Account access devices to Us immediately upon the closing of Your
Account.
NOTIFICATION OF PRE-AUTHORIZED DEPOSITS.
If You have arranged to have direct deposits made to Your Account at
least once every 60 days (from Your employer, the federal government or
other payor), You can call Us at (800) 762-7419, to find out whether or
not the deposit has been made.
RIGHT TO STOP PRE-AUTHORIZED PAYMENTS.
If You want to stop any pre- authorized payments, call Us at (800)
762-7419, or write to Us at 7144 Kennedy Avenue, Hammond, Indiana 46323
in time for Us to receive Your stop payment 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. To be sure that a third party does not bill You
again for the "stopped" payment or to cancel the entire pre-authorized
payment arrangement, contact the third party.
NOTICE OF VARYING AMOUNTS.
If regular pre-authorized 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.
OUR LIABILITY FOR FAILURE TO STOP PAYMENT.
If You order Us to place
a stop payment on one of Your pre-authorized payments 3 business days
or more before the transfer is scheduled, and We do not do so, We will
be liable for losses or damages, to the extent provided by law.
TRANSACTION SLIPS.
You can get a receipt at the time You make any transaction to or from
Your Account (except PAL, Home Banking, Bill Payer, telephonic, mail-in
transactions and certain small-value transactions). When an electronic
transfer has been made during any given month, You will receive a
monthly statement to reflect all electronic fund transfers to or from
Your Account during that statement period. In any case, You will
receive a statement at least quarterly.
FEES.
We may assess reasonable charges against Your Account for transactions
performed at electronic terminals. If so, We will specify any charges
for these or other types of electronic transactions, including
automatic transfers, on an accompanying pricing document. We will
explain the charges to You when You open Your Account. You will be
provided with a fee schedule and PAL, Home Banking, and Bill Payer
information after Your Account is established. Additional fee schedules
are available at any of Our office locations. 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.
LIABILITY FOR FAILURE TO COMPLETE TRANSACTIONS.
If We do not
properly complete a transaction to or from Your Account according to
this Agreement, We will be liable for Your losses or damages. However,
We will not be liable if: (a) Your Account does not contain enough
available funds to make the transaction through no fault of Ours; (b)
the ATM where You are making the transfer does not have enough cash;
(c) the terminal was not working properly and You knew about the
breakdown when You started the transaction; (d) circumstances beyond
Our control prevent the transaction despite reasonable precautions that
We have taken; (e) Your Card is retrieved or retained by an ATM; (f)
Your Card or PIN has been reported lost or stolen and We have blocked
the Account; (g) the money in Your Account is subject to legal process
or other claim; (h) there are other lawful exceptions established by Us
and You are given proper advance notice of them; (i) You exceed any
limits on Your Account: and
(j) the VISA network does not allow the transaction to proceed due to
anti-fraud or similar consumer protections employed by that network.
LIABILITY FOR UNAUTHORIZED USE.
Telephone Us at once at (800) 762- 7419, or write to Us at 7144 Kennedy
Avenue, Hammond, Indiana 46323 if You believe Your Card or PIN have
been lost or stolen or if you believe that an electronic fund transfer
has been made without Your permission using information from Your
check. Telephoning is the best way of keeping Your possible losses
down. You could lose all of the money in Your Account (plus Your
maximum overdraft line of credit, if applicable). If You tell us within
2 business days after You learn of the loss or theft of Your Card or
PIN, You can lose no more than $50.00 if someone uses Your Card or PIN
without Your permission. If You fail to tell Us within 2 business days
after You learn of the loss or theft of Your Card or PIN and We can
prove that We could have stopped someone from using Your Card or PIN
without Your permission if You had told Us, then You could lose as much
as $500.00. Also, if Your statement shows transfers that You did not
make, including those made by Card, PIN or other means, You will 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 valid reason (such as a long
trip or hospital stay) keeps You from giving Us notice, We will extend
the time periods. Exception: You will have no
liability for unauthorized use for Your VISA Check Card as long as You
report the loss or theft of Your VISA Check Card within 2 business
days.
These exceptions do not apply to: (a) transactions that originate
at an ATM; or (b) transactions that originate from Your gross
negligence; or (c) transactions that originate from Your fraudulent
use of Your VISA Check Card; or (d) transactions processed through
non-VISA networks without cardholder PIN validation.
IN CASE OF ERRORS OR IF YOU HAVE QUESTIONS ABOUT ELECTRONIC
TRANSFERS.
Telephone Us at (800) 762-7419, or write to Us at 7144 Kennedy Avenue,
Hammond, Indiana 46323 as soon as You can, if You think Your statement
or receipt is wrong or if You need more information about a transaction
listed on the statement or receipt. We must hear from You no later than
60 days after We send You the first statement on which the problem or
error appeared.
(1) Tell Us Your name and Account number.
(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 after We hear from
You and will correct any error promptly. If We need more time, however,
We may take up to 45 days to investigate Your complaint or question. If
We decide to do this, We will credit Your account within 10 business
days for the amount You think is in error, so that You will have the
Use of the money during the time it takes Us to complete our
investigation. If We ask You to put Your complaint or question in
writing and We do not receive it within 10 business days, We may not
credit Your account. For errors involving new accounts, point-of-sale,
or foreign-initiated transactions, We may take up to 90 days to
investigate Your complaint or question. For new accounts, We may take
up to 20 business days to credit Your account for the amount You think
is in error. We will tell You the results within 3 business days after
completing our investigation. If We decide that there was no error, We
will send You a written explanation. You may ask for copies of the
documents that We Used in our investigation.
UNAUTHORIZED TRANSFERS.
To report a lost or stolen Card, PIN, Access Code or any combination
thereof, You will call Us at (855) 501-5369. You may also report the
loss of a Card, PIN, Access Code or any combination thereof, by writing
to Us at 7144 Kennedy Avenue, Hammond, Indiana 46323. You should also
call the number or write to the address listed above if You believe a
transfer has been made using the information from Your check without
Your permission.
FOREIGN TRANSACTIONS.
For transactions initiated in foreign countries and foreign currencies,
the exchange rate between the transaction currency and the billing
currency (U.S. dollars) will be: (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. For transactions that are
initiated in a foreign currency, You will be charged 2.00% of the final
settlement amount. For transactions occurring in foreign countries and
initiated in U.S. Dollars, You will be charged 2.00% of the final
settlement amount.
DISCLOSURE OF ACCOUNT INFORMATION.
We may disclose information to third parties about Your Account or
transfers You make: (1) when it is necessary to complete an electronic
transaction; or (2) in order to verify the existence and conditions of
Your Account for a third party such as a credit bureau or merchant; or
(3) in order to comply with a government agency or court order, or any
legal process; or (4) if You give Us written permission.
TERMINATION.
We may terminate Your right to use Your Card, PIN or Access Code, or
cancel this Agreement at any time upon written notice. You may request
termination of these services in writing.
CHANGE IN TERMS.
We may change the terms and charges for the services shown in this
Agreement and may amend this Agreement from time to time upon proper
notice to You.
GOVERNING LAW.
This Agreement is controlled and governed by the laws of the State of
Indiana, except to the extent that such laws are inconsistent with
controlling federal law.
FUNDS AVAILABILITY POLICY DISCLOSURE
EXCEPT FOR CHECKS DRAWN ON FOREIGN BANKS IN FOREIGN COUNTRIES, THIS
DISCLOSURE DESCRIBES YOUR ABILITY TO WITHDRAW FUNDS FROM TRANSACTION
ACCOUNTS AT REGIONAL FEDERAL CREDIT UNION. YOU SHOULD ALSO REFER TO THE
SECTION OF THESE AGREEMENTS AND DISCLOSURES THAT DESCRIBES THE DETAILS
OF YOUR SPECIFIC ACCOUNT TYPE FOR ADDITIONAL INFORMATION.
Your Ability To Withdraw Funds.
Our general policy is to make funds from Your cash and check deposits
available to You on the same business day We receive Your deposit.
Electronic direct deposits will be available on the day We receive the
deposit. Once they are available, You can withdraw the funds in cash
and We will use the funds to pay checks that You have written.
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 closing 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 closing or on a day We are not open, We will
consider that the deposit was made on the next business day We are
open.
Longer Delays May Apply.
In some cases, We will not make all of the funds that You deposit by
check available to You on the same business day We receive Your
deposit. Depending on the type of check that You deposit, funds may not
be available until the 2nd business day after the day of Your deposit.
The first $200.00 of Your deposits, may be available on the 1st
business day after the day of Your deposit.
If We are not going to make all of the funds from Your deposit
available on the same business We receive Your deposit, 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.
In addition, funds You deposit by check may be delayed for a longer
period under the following circumstances:
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We believe a check You deposit will not be paid.
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You deposit checks totaling more than $5,000.00 on any one day.
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You redeposit a check that has been returned unpaid.
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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 7th
business day after the day of Your deposit. In any case, We reserve the
right to refuse an item for deposit or encashment.
Special Rules For New Accounts.
If You are a new customer, 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
$5,000.00 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 1st business day after the day of Your deposit if the
deposit meets certain conditions. For example, the checks must be
payable to You. The excess over $5,000.00 will be available on the 7th
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 $5,000.00 will not be available until the
2nd business day
after the day of your deposit. Funds from all other check deposits will
be available on the 7th business day after the day of Your deposit.
Holds on Other Funds.
If We cash a check for You that is drawn on another institution, We may
withhold the availability of a corresponding amount of funds that are
already in Your Account. Those funds will be available to You at the
time that the funds from the check We cashed for You would have been
available if You had deposited it. If We accept for deposit a check
that is drawn on another institution, We may make funds from the
deposit available for withdrawal immediately but delay Your
availability to withdraw a corresponding amount of funds that You have
on deposit in another account with Us. The funds in the other account
would then not be available for withdrawal until the time periods that
are described elsewhere in this policy for the type of check that You
deposited.
ATM Deposits.
For deposits made at Automated Teller Machines (ATMs) not owned and
operated by the Credit Union, deposits subject to delayed availability
will become available for withdrawal on the 5th business day following
the day of deposit. All ATMs that We own or operate are identified as
Our machines.
Location of Check Endorsements
. Federal law requires all check endorsements to be in the first 1-1/2
inches of the trailing edge of the back of the check. The trailing edge
is opposite the left side of the face of the check, the side of the
check just behind Our address. You will be responsible for any costs
incurred by Us due to delays in returning checks deposited into Your
Account that do not comply with the endorsement standards.
Dividend Payment Policy.
See the Account Disclosures section in these Agreements and Disclosures
for Our policy on the payment of dividends.
WIRE TRANSFER AGREEMENT
THESE ARE THE TERMS AND CONDITIONS WHENEVER YOU REQUEST A WIRE TRANSFER
OF FUNDS FROM YOUR ACCOUNT(S) WITH US BASED UPON YOUR ORAL OR WRITTEN
REQUEST. WE WILL PROVIDE WIRE TRANSFER SERVICES AS A MEANS TO INITIATE
DOMESTIC AND INTERNATIONAL TRANSFERS FOR YOU, SUBJECT TO THE TERMS OF
THIS AGREEMENT, WHICH YOU AGREED TO BY SIGNING YOUR APPLICATION FOR
MEMBERSHIP WITH US AT THE TIME THAT YOUR ACCOUNT WAS ESTABLISHED.
This Wire Transfer Agreement applies to wire transfers that are not
"Remittance Transfers" as defined in the Electronic Fund Transfer Act
(15 U.S.C. 1693o-1) and Regulation E, Subpart B (12 CFR 1005.30 et seq.).
We are authorized to charge Your Account for the payment of wire
transfer requests. If more than one Account(s) is designated, We may
charge any of the designated Accounts unless You give Us specific
written directions otherwise. Your transfer requests may involve the
transfer of funds from any of Your designated Accounts with Us to
another account You have with Us, to any other financial institution,
or to a third party or account of a third party maintained with Us or
any other financial institution. There are no restrictions or
limitations on the amounts which may be ordered or requested, or on the
location or address of the beneficiary of a transfer unless You give Us
written instructions to the contrary.
The party(ies) named in Your application for membership are the
Authorized Persons who may issue payment orders to Us for the
initiation of wire transfers or to receive telephone calls from Us, in
accordance with this Agreement, for the purpose of confirming payment
orders for the initiation of wire transfers which have been transmitted
to Us under this Agreement for any Account designated in Your
application for membership. For confirmation purposes, We may call any
party designated in Your application for membership. If more than one
Authorized Person is named, any one of them may issue payment orders on
any designated Account.
Wire transfer requests must be given to Us in compliance with Our
cut-off hours as established from time to time by Us. We are not
responsible for the accuracy of a routing number which You supply
verbally and which is contained in Your wire transfer request. Wire
transfer requests received by Us after Our cut-off hours may be treated
as if received on the following business day.
We have no obligation to accept or execute any wire transfer request.
We will provide You telephonic notice of rejection. If We are unable to
reach You by telephone, We may at Our option give You notice of
rejection in writing.
If We accept a wire transfer request consistent with this Agreement,
You agree that any such transfer requests which We receive are
effective as Your transfer request, whether or not authorized.
You will have no right to cancel or amend a payment order to initiate a
wire transfer after We receive it. We will make a reasonable effort to
act on a cancellation or amendment of a payment order made by You prior
to the time
that We execute such payment order, but We have no liability if Your
cancellation or amendment is ineffective.
You agree to re-execute this Agreement or to execute a new agreement if
changes are necessary. Your application for membership designates any
Account which may be charged in relation to wire transfer requests. All
parties which You have authorized to issue wire transfer requests or to
receive telephonic confirmations from Us are identified in Your
application for membership. All modifications or additions to Your
application for membership must be in writing.
You agree to pay Us the amount of any transfer request which We
transmit pursuant to this Agreement when We execute a payment order to
carry out Your wire transfer request. You will not make any wire
transfer request which would cause You to exceed the available balance
in the Account designated to pay the transfer request. If a payment
order is executed which creates an overdraft, with or without Our prior
consent, You agree to pay Us the overdraft amount and any overdraft fee
immediately upon Our demand. We have the right to set-off the amount of
any overdraft against the balance in any of Your accounts with Us and
We may exercise any rights We have under any agreements which grant Us
security for the payment of Your liabilities or obligations to Us.
You understand and agree that the payment of a wire transfer request
may be made by Us or any other financial institution used to carry out
the transfer request on the basis of an identifying or account number
which You have provided for a beneficiary, even if the number
identifies a person different from Your intended beneficiary. You also
understand and agree that We or any other financial institution used to
carry out a transfer request, may rely on the identifying number of the
intermediary or beneficiary's financial institution which You have
provided as the proper identification of the intermediary or
beneficiary's financial institution, even if the number identifies a
financial institution different from the one You intended to identify.
We or any other financial institution are not responsible for
determining whether any identifying or account numbers You have
provided to initiate a wire transfer are accurate. You will be liable
to Us for the amount of any transfer request even if payment of the
transfer request is made to a person different from the named
beneficiary based upon the beneficiary's identifying or account number
provided by You or payment of the transfer request is made to a
financial institution different from the one identified by name based
on the identifying number which You have provided to Us.
You agree to examine any statement or confirmation which We send You
and to notify Us within 30 days after the mailing date on any statement
or confirmation, of any discrepancy or error. If You fail to notify Us of any
discrepancy or error within the required time period, You agree that We
are not liable to pay interest or reimburse You for any discrepancy or
error in relation to a transfer request described in such statement or
confirmation.
You and the Credit Union agree that the following specified security
procedures represent a commercially reasonable method of providing
security against unauthorized payment orders: (a) Only individuals
named in Your application for membership shall issue wire transfer
requests to Us; and (b) We reserve the right to telephonically contact
any individual named in Your application for membership for the purpose
of confirming a transfer request, regardless of amount, although We
have no obligation to do so. If We cannot obtain a confirmation
satisfactory to Us, then We reserve the right to refuse to honor any
wire transfer request.
We have no responsibility to verify the identity of any party
identifying themselves as an individual authorized to receive a
telephonic confirmation of any wire transfer request, other than to
verify that the name given by such party corresponds to a party named
in Your application for membership. If, for any reason, We are not
satisfied that a wire transfer request was issued by an authorized
party or confirmed by an authorized party, We may refuse to execute the
transfer request. If We do so, We shall not incur any liability any
nature. You agree to prevent disclosure, other than on a need-to-know
basis, of any of the aspects of the security procedures which You have
agreed to with Us. You will notify Us immediately if You believe the
confidentiality of the security procedures has been compromised and You
shall act to prevent the security procedures from being further
compromised.
We have no liability of any nature for delays or mistakes, provided We
act in good faith and with reasonable care. We are not responsible for
delays or mistakes caused by other parties through whom We transmit
funds whether such other parties were selected by You or Us. We are not
required to make a wire transfer on the day a wire transfer request is
received, unless the wire transfer request is received within a
reasonable time before any cut-off hour We have established. We will
generally use the funds transfer system, but We may use any means and
routes that We, in Our sole discretion, consider suitable for the
transmission of funds.
You agree that We have no liability and are not responsible for any
delay or failure to transfer any amount specified in any wire transfer
request because of rules, regulations, or policies of the Federal
Reserve Board which limits, in the aggregate, the amount We can
transfer from time to time during any business day, provided, however,
that We will promptly notify You of any such failure or delay and will
effectuate the transfer as soon as is reasonably possible.
We shall have no liability whatsoever for any special, consequential,
punitive, or indirect loss or damage suffered by You in connection with
services offered by Us which are subject to this Agreement, regardless
of whether We know or should have known such damages might be incurred.
We have no responsibility for any attorneys' fees that You might incur.
We may terminate this Agreement at any time by giving written or oral
notice to You. Unless We terminate this Agreement, the Agreement shall
remain in effect until We receive written notice of termination from
You and have been afforded a reasonable opportunity to act on Your
termination notice. You may not assign this Agreement to any other
party.
This Agreement is governed by the provisions of Regulation J, 12 CFR
Part 210, Subpart B, including the Appendices, to the extent that any
wire transfer request is carried out. Terms which are not defined in
this Agreement shall have the same meaning as defined in the Uniform
Commercial Code Article 4A. This Agreement is also subject to all
applicable Operating Circulars of the Federal Reserve Bank in the
district in which We are located and any other applicable provisions of
federal or state law. To the extent that Regulation J does not apply to
this Agreement, this Agreement shall be governed by the laws of the
state in which We are chartered.
We may amend this Agreement, from time to time, by sending You a copy
of any amendment at least 30 days prior to its effective date. This
Agreement may also be amended by a writing signed by You and Us. No
representation or statement not expressly contained in this Agreement
or in any amendment shall be binding upon You or Us.
If any provision of this Agreement is prohibited by applicable law,
such prohibition shall apply only to that provision and all other
provisions of the Agreement shall remain in full force and effect.
PRIVACY POLICY
FACTS
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WHAT DOES REGIONAL FEDERAL CREDIT UNION DO WITH
YOUR PERSONAL INFORMATION?
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Why?
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Financial companies choose how they share Your personal
information. Federal law gives consumers the right to
limit some but not all sharing. Federal law also
requires Us to tell You how We collect, share, and
protect Your personal information. Please read this
notice carefully to understand what We do.
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What?
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The types of personal information We collect and share
depend on the product or service You have with Us. This
information can include:
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Social Security number and account transactions
-
account balances and credit card or other debt
· credit history and checking account information
When You are no longer Our member, We continue
to share Your information as described in this notice.
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How?
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All financial companies need to share customers'
personal information to run their everyday business. In
the section below, We list the reasons financial
companies can share their customers' personal
information, the reasons Regional Federal Credit Union
chooses to share; and whether You can limit this
sharing.
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Reasons We can share Your personal information
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Does the Credit Union share?
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Can You limit this sharing?
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For Our everyday business purposes
- such as to process Your transactions, maintain Your
account(s), respond to court orders and legal
investigations, or report to credit bureaus
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YES
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NO
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For Our marketing purposes
- to offer Our products and services to You
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YES
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NO
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For joint marketing with other financial companies
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YES
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NO
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For Our affiliates' everyday business purposes
- information about Your transactions and experiences
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NO
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WE DON'T SHARE
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For Our affiliates' everyday business purposes
- information about Your creditworthiness
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NO
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WE DON'T SHARE
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For Our affiliates to market to You
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NO
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WE DON'T SHARE
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For non-affiliates to market to You
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NO
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WE DON'T SHARE
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Questions?
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Call (800) 762-7419 or go to
www.regionalfcu.org
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What We do
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How does Regional Federal Credit Union protect my
personal information?
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To protect Your personal information from unauthorized
access and use, We use security measures that comply
with federal law. These measures include computer
safeguards and secured files and buildings.
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How does Regional Federal Credit Union collect my
personal information?
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We collect Your personal information, for example, when
You
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open an account or apply for financing
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provide Your mortgage information or make a wire
transfer
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give Us Your contact information
We also collect Your personal information from others,
such as credit bureaus, affiliates or other companies.
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Why can't I limit all sharing?
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Federal law gives You the right to limit only
· sharing for affiliates' everyday business
purposes - information about Your credit worthiness
-
affiliates from using Your information to market to
You
-
sharing for non-affiliates to market to You
State laws and individual companies may give You
additional rights to limit sharing.
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Definitions
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Affiliates
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Companies related by common ownership or control. They can
be financial and non-financial companies.
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Regional Federal Credit Union has no affiliates.
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Non-Affiliates
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Companies not related by common ownership or control. They
can be financial and non-financial companies.
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Regional Federal Credit Union does not share with
non- affiliates so they can market to You.
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Joint Marketing
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A formal agreement between non-affiliated financial
companies that together market financial products or
services to You.
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Our joint marketing partners include insurance and
financial services companies.
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