Terms and Conditions

TERMS AND CONDITIONS OF YOUR ACCOUNT

Agreement
Bylaws
Liability
Deposits
Withdrawals
Ownership of Account and Beneficiary Designation
Business, Organization and Association Accounts
Stop Payments
Telephone Transfers
Amendments and Termination
Notices
Statements
Account Transfer
Direct Deposits
Temporary Account Agreement
Right to Repayment of Indebtedness
Authorized Signer
Restrictive Legends or Endorsements
Payment Order of Items
Facsimile Signatures
Pledges
Check Processing
Check Cashing
Endorsements
Death or Incompetence
Fiduciary Accounts
Credit Verification
Legal Actions Affecting Your Account
Security
Telephonic Instructions
Monitoring and Recording Telephone Calls and Consent to Receive Communications
Claim of Loss
Early Withdrawal Penalties
Address, Email or Name Changes
Resolving Account Disputes
Waiver of Notices
ACH and Wire Transfers
ELECTRONIC FUND TRANSFERS YOUR RIGHTS AND RESPONSIBILITIES
YOUR ABILITY TO WITHDRAW FUNDS
Internet Banking
Common Features
 

TERMS AND CONDITIONS OF YOUR ACCOUNT
 

AGREEMENT - This document, along with any other documents we give you pertaining to your account(s), is a contract that establishes rules which control your account(s) with us. Please read this carefully and retain it for future reference. If you sign the signature card or open or continue to use the account, you agree to these rules. You will receive a separate schedule of rates, qualifying balances, and fees if they are not included in this document. If you have any questions, please call us.

This agreement is subject to applicable federal laws, the laws of the state of Indiana and other applicable rules such as the operating letters of the Federal Reserve  Banks and payment processing system rules (except to the extent that this agreement can and does vary such rules or laws). The body of state and federal law that governs our relationship with you, however, is too large and complex to be reproduced here. The purpose of this document is to:

 

(1) summarize some laws that apply to common transactions;

(2) establish rules to cover transactions or events which the law does not regulate;

(3) establish rules for certain transactions or events which the law regulates but permits variation by agreement; and

(4) give you disclosures of some of our policies to which you may be entitled or in which you may be interested.

 

If any provision of this document is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect. We may permit some variations from our standard agreement, but we must agree to any variation in writing either on the signature card for your account or in some other document. Nothing in this document is intended to vary our duty to act in good faith and with ordinary care when required by law.

 

As used in this document the words “we,” “our,” and “us” mean the financial institution and the words “you” and “your” mean the account holder(s) and anyone else with the authority to deposit, withdraw, or exercise control over the funds in the account. However, this agreement does not intend, and the terms “you” and “your” should not be interpreted, to expand an individual’s responsibility for an organization’s liability. If this account is owned by a corporation, partnership or other organization, individual liability is determined by the laws generally applicable to that type of organization. The headings in this document are for convenience or reference only and will not govern the interpretation of the provisions. Unless it would be inconsistent to do so, words and phrases used in this document should be construed so the singular includes the plural and the plural includes the singular.

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BYLAWS - Our bylaws, which we may amend from time to time, establish basic rules about our credit union policies and operations which affect your account and membership. You may obtain a copy of the bylaws on request. Our right to require you to give us notice of your intention to withdraw funds from your account is described in the bylaws. Unless we have agreed otherwise, you are not entitled to receive any original item after it is paid, although you may request that we send you an item(s) or a copy of an item(s). Dividends are based on current earnings and available earnings of the credit union, after providing for required reserves.

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LIABILITY - You agree, for yourself (and the person or entity you represent if you sign as a representative of another) to the terms of this account and the schedule of charges. You authorize us to deduct these charges, without notice to you, directly from the account balance as accrued. You will pay any additional  reasonable charges for services you request which are not covered by this agreement.

 

Each of you also agrees to be jointly and severally (individually) liable for  any account shortage resulting from charges or overdrafts, whether caused by you or another with access to this account. This liability is due immediately, and can be deducted directly from the account balance whenever sufficient funds are available. You have no right to defer payment of this liability, and you are liable regardless of whether you signed the item or benefited from the charge or overdraft.

 

You will be liable for our costs as well as for our reasonable attorneys’ fees, to the extent permitted by law, whether incurred as a result of collection or in any other dispute involving your account. This includes, but is not limited to, disputes between you and another joint owner; you and an authorized signer or similar party; or a third party claiming an interest in your account. This also includes any action that you or a third party takes regarding the account that causes us, in good faith, to seek the advice of an attorney, whether or not we become involved in the dispute. All costs  and attorneys’ fees can be deducted from your account when they are incurred, without notice to you.
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DEPOSITS - We will give only provisional credit until collection is final for any items, other than cash, we accept for deposit (including items drawn “on us”). Before settlement of any item becomes final, we act only as your agent, regardless of the form of endorsement or lack of endorsement on the item and even  though  we provide you provisional credit for the item. We may reverse any provisional credit for items that are lost, stolen, or returned. Unless prohibited by law, we also reserve the right to charge back to your account the amount of any item deposited to your  account or cashed for you which was initially paid by the payor bank and which is later returned to us due to an allegedly forged, unauthorized or missing endorsement, claim of alteration, encoding error or other problem which in our judgment justifies reversal of credit. You authorize us to attempt to collect previously returned items without giving you notice, and in attempting to collect we may permit the payor bank to hold an item beyond the midnight deadline. Actual credit for deposits of, or payable in, foreign currency will be at the exchange rate in effect on final collection in U.S. dollars. We are not responsible for transactions by mail or outside depository until we actually record them. If you deliver a deposit to us and  you will not be present when the deposit is counted, you must provide us an itemized list of the deposit (deposit slip). To process the deposit, we will verify and record the deposit, and credit the deposit to the account. If there are any discrepancies between the amounts shown on the itemized list of the deposit and the amount we determine to be the actual deposit, we will notify you of the discrepancy. You will be entitled to credit only for the actual deposit as determined by us, regardless of what is stated on the itemized deposit slip. We will treat and record all transactions received after our “daily cutoff time” on a business day we are open, or received on a day we are not open for business, as if initiated on the next business day that we are open. At our option, we may take an item for collection rather than for deposit. If we accept a third- party check for deposit, we may require any third-party endorsers to verify or guarantee their endorsements, or endorse in our presence.
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WITHDRAWALS

Generally - Unless clearly indicated otherwise on the account records, any of you, acting alone, who signs to open the account or has authority to make withdrawals may withdraw or transfer all or any part of the account balance at any time. Each of you (until we receive written notice to the contrary) authorizes each other person who signs or has authority to make withdrawals to endorse any item payable to you or your order for deposit to this account or any other transaction with us.

 

Postdated checks - A postdated check is one which bears a date later than the date on which the check is written. We may properly pay and charge your account for a postdated check even though payment was made before the date of the check, unless we have received written notice of the postdating in time to have a reasonable opportunity to act. Because we process checks mechanically, your notice will not be effective and we will not be liable for failing to honor your notice unless it precisely identifies the number, date, amount and payee of the item.

 

A personal checking account may not be used for commercial or business purposes.

Checks and withdrawal rules - If you do not purchase your check blanks from us, you must be certain that we approve the check blanks you purchase. We may refuse

any withdrawal or transfer request which you attempt on forms not approved by us  or by any method we do not specifically permit. We may refuse any withdrawal or transfer request which is greater in number than the frequency permitted, or which is for an amount greater or less than any withdrawal limitations. We will use the date  the transaction is completed by us (as opposed to the date you initiate it) to apply the frequency limitations. In addition, we may place limitations on the account until your identity is verified.

 

Even if we honor a nonconforming request, we are not required to do so later. If you violate the stated transaction limitations (if any), in our discretion we may close your account or reclassify it as a transaction account. If we reclassify your account, your account will be subject to the fees and earnings rules of the new account classification.

 

If we are presented with an item drawn against your account that would be a “substitute check,” as defined by law, but for an error or defect in the item introduced in the substitute check creation process, you agree that we may pay such item.

 

See the funds availability policy disclosure for information about when you can withdraw funds you deposit. For those accounts to which our funds availability policy disclosure does not apply, you can ask us when you make a deposit when those funds will be available for withdrawal. An item may be returned after the funds from the deposit of that item are made available for withdrawal. In that case, we will reverse the credit of the item. We may determine the amount of available funds in your account for the purpose of deciding whether to return an item for insufficient funds at any time between the time we receive the item and when we return the item or send a notice in lieu of return. We need only make one determination, but if we choose to make a subsequent determination, the account balance at the subsequent time will determine whether there are insufficient available funds.

 

A temporary debit authorization hold affects your account balance - On debit card purchases, merchants may request a temporary hold on your account for a specified sum of money, which may be more than the actual amount of your purchase. When this happens, our processing system cannot determine that the amount of the hold exceeds the actual amount of your purchase. This temporary  hold, and the amount charged to your account, will eventually be adjusted to the actual amount of your purchase, but it may be up to three days before the adjustment is made. Until the adjustment is made, the amount of funds in your account available for other transactions will be reduced by the amount of the temporary hold. If another transaction is presented for payment in an amount greater than the funds left after  the deduction of the temporary hold amount, that transaction will be a nonsufficient funds (NSF) transaction if we do not pay it or an overdraft transaction if we do pay it. You will be charged an NSF or overdraft fee according to our NSF or overdraft fee policy. You will be charged the fee even if you would have had sufficient funds in  your account if the amount of the hold had been equal to the amount of your purchase.

 

Here is an example of how this can occur – assume for this example the following:

(1) you have opted-in to our overdraft services for the payment of overdrafts on ATM and everyday debit card transactions, (2) we pay the overdraft, and (3) our overdraft fee is $35 per overdraft, but we do not charge the overdraft fee if the transaction overdraws the account by less than $10.

 

You have $120 in your account. You swipe your card at the card reader  on  a gasoline pump. Since it is unclear what the final bill will be, the gas station’s processing system immediately requests a hold on your account in a specified amount, for example, $80. Our processing system authorizes a temporary hold on your account in the amount of $80, and the gas station’s processing system authorizes you to begin pumping gas. You fill your tank and the amount of gasoline you purchased is only $50. Our processing system shows that you have $40 in your account available for other transactions ($120 - $80 = $40) even though you would have $70 in your account available for other transactions if the amount of the temporary hold was equal to the amount of your purchase ($120 - $50 = $70). Later, another transaction you have authorized is presented for payment from your account in the amount of $60 (this could be a check you have written, another debit card transaction, an ACH debit or any other kind of payment request). This other transaction is presented before the amount of the temporary hold is adjusted to the amount of your purchase (remember, it may take up to three days for the adjustment to be made). Because the amount of this other transaction is greater than the amount our processing system shows is available in your account, our payment of this transaction will result in an overdraft transaction. Because the transaction overdraws your account by $20, your account will be assessed the overdraft fee of $35 according to our overdraft fee policy. You will be charged this $35 fee according to our policy even though you would have had enough money in your account to cover the $60 transaction if your account had only been debited the amount of your purchase rather than the amount of the temporary hold or if the temporary hold had already been adjusted to the actual amount of your purchase.

 

Overdrafts - You understand that we may, at our discretion, honor withdrawal requests that overdraw your account. However, the fact that we may honor withdrawal requests that overdraw the account balance does not obligate us to do so later. So you can NOT rely on us to pay overdrafts on your account regardless of   how frequently or under what circumstances we have paid overdrafts on  your account in the past. We can change our practice of paying overdrafts on  your account without notice to you. You can ask us if we have other account services that might be available to you where we commit to paying overdrafts under certain circumstances, such as an overdraft protection line-of-credit or a plan to sweep funds from another account you have with us. You agree that we may charge fees for overdrafts. For consumer accounts, we will not charge fees for overdrafts caused by ATM withdrawals or one-time debit card transactions if you have not opted-in to that service. We may use subsequent deposits, including direct deposits of social security or other government benefits, to cover such overdrafts and overdraft fees.

 

All overdraft outstanding balances, plus related fees, are due immediately, but in no event more than 15 days after the date of the overdraft transaction. If we do not receive payment in full from you within 35 days from the date of the overdraft transaction, your checking/share draft account will be closed and your account information will be turned over to a collection agency for continued collection efforts and reported to a consumer reporting agency.

 

Multiple signatures, electronic check conversion, and similar transactions - An electronic check conversion transaction is a transaction where a check or similar item is converted into an electronic fund transfer as defined in the Electronic Fund Transfers regulation. In these types of transactions the check or similar item is either removed from circulation (truncated) or given back to you. As a result, we have no opportunity to review the check to examine the signatures on the item. You agree that, as to these or any items as to which we have no opportunity to examine the signatures, you waive any requirement of multiple signatures.
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OWNERSHIP OF ACCOUNT AND BENEFICIARY DESIGNATION - These rules apply to this account depending on the form of ownership and beneficiary designation, if any, specified on the account records. We reserve the right to refuse some forms of ownership on any or all of our accounts. We make no representations as to the appropriateness or effect of the ownership and beneficiary designations, except as they determine to whom we pay the account funds.

 

Individual Account - is an account in the name of one person.

 

Joint Account - With Survivorship (And Not As Tenants In Common) - is an account in the name of two or more persons. Each of you intend that when you die the balance in the account (subject to any previous pledge to which we have agreed) will belong to the survivor(s). If two or more of you survive, you will own the balance  in the account as joint tenants with survivorship and not as tenants in common.

 

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

 

Revocable Trust Account/In Trust For (pursuant to the Multiple Party Account statutes in Indiana Code ch. 32-17-11 et. seq.) - If two or more of you create this type of account, you own the account jointly with survivorship. Beneficiaries cannot withdraw unless: (1) all persons creating the account die, and (2) the beneficiary is then living. If two or more beneficiaries are named and survive the death of all persons creating the account, beneficiaries will own this account in equal shares, without right of survivorship. The person(s) creating this account type may:  (1) change beneficiaries, (2) change account types, and (3) withdraw all or part of the account funds at any time.

 

Pay-on-Death Account with LDPS (pursuant to the Transfer on Death Property Act statutes in Indiana Code ch. 32-17-14 et. seq.) - If two or more of you create this type of account, you own the account jointly with survivorship. Beneficiaries cannot withdraw unless all persons creating the account die. If a named beneficiary does not survive all persons that created the account, that beneficiary’s right to a transfer on death transfer belongs to that beneficiary’s lineal descendants per stirpes (LDPS) who survive all persons that created the account. LDPS means that group of people that are the lineal descendants of a beneficiary who will take, in place of the beneficiary they have survived, the beneficiary’s share as determined under Indiana law. In order for a lineal descendant to take in place of a beneficiary, the lineal descendant must survive the death of that beneficiary. The person(s) creating this account type may: (1) change beneficiaries, (2) change account types, and (3) withdraw all or part of the account funds at any time.

 

Pay-on-Death Account No LDPS (pursuant to the Transfer on Death Property Act statutes in Indiana Code ch. 32-17-14 et. seq.) - If two or more of you create this type of account, you own the account jointly with survivorship. Beneficiaries cannot withdraw unless: (1) all persons creating the account die, and (2) the beneficiary is then living. If two or more beneficiaries are named and survive the  death of all persons creating the account, beneficiaries will own this account in equal shares unless otherwise designated in writing, without right of survivorship. The person(s) creating this account type may: (1) change beneficiaries, (2) change account types, and (3) withdraw all or part of the account funds at any time.

 

Additional Transfer on Death Property Act Rules - If there are multiple primary beneficiaries and a primary beneficiary does not survive all persons creating the account and does not have a substitute under the LDPS rules, the share of the nonsurviving primary beneficiary is allocated among the surviving primary beneficiaries in the proportion that their shares bear to each other. If there are no surviving primary beneficiaries and there are no substitutes for the nonsurviving primary beneficiaries under the LDPS rules, the property belongs to the surviving contingent beneficiaries in equal shares or according to the percentages or fractional shares stated in the designation. If there are multiple contingent beneficiaries and a contingent beneficiary does not survive all persons creating the account and does   not have a substitute under the LDPS rules, the share of the nonsurviving contingent beneficiary is allocated among the surviving contingent beneficiaries in the proportion that their shares bear to each other. If no beneficiary survives all persons creating   the account, the property belongs to the estate of the owner unless directed to a substitute beneficiary under the LDPS rules.
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BUSINESS, ORGANIZATION AND ASSOCIATION ACCOUNTS - Earnings in the form of interest, dividends, or credits will be paid only on collected funds, unless otherwise provided by law or our policy. You represent that you have the authority to open and conduct business on this account on behalf of the entity. We may require the governing body of the entity opening the account to give us a separate authorization telling us who is authorized to act on its behalf. We will honor the authorization until we actually receive written notice of a change from the governing body of the entity.
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STOP PAYMENTS - Unless otherwise provided, the rules in this section cover stopping payment of items such as checks and drafts. Rules for stopping payment of other types of transfers of funds, such as consumer electronic fund transfers, may be established by law or our policy. If we have not disclosed these rules to you elsewhere, you may ask us about those rules.
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We may accept an order to stop payment on any item from any one of you. You must make any stop-payment order in the manner required by law and we must receive it  in time to give us a reasonable opportunity to act on it before our stop-payment cutoff time. Because stop-payment orders are handled by computers, to be effective, your stop-payment order must precisely identify the number, date, and amount of the item, and the payee. You may stop payment on any item drawn on your account whether you sign the item or not. Your stop payment order is effective for six months if it is given to us in writing or by another type of record (Generally, a “record” is information that is stored in such a way that it can be retrieved and can be heard or read and understood – you can ask us what type of stop payment records you can give us). Your order will lapse after that time if you do not renew the order in writing before the end of the six-month period. If the original stop-payment order was oral your stop- payment order will lapse after 14 calendar days if it is not confirmed in writing or by another type of record within that time period. We are not obligated to notify you  when a stop-payment order expires. A release of the stop-payment request may be made only by the person who initiated the stop-payment order.

 

If you stop payment on an item and we incur any damages or expenses because of the stop payment, you agree to indemnify us for those damages or expenses, including attorneys’ fees. You assign to us all rights against the payee or any other holder of the item. You agree to cooperate with us in any legal actions that we may take against such persons. You should be aware that anyone holding the item may  be entitled to enforce payment against you despite the stop-payment order.

 

Our stop-payment cutoff time is one hour after the opening of the next banking day after the banking day on which we receive the item. Additional limitations on our obligation to stop payment are provided by law (e.g., we paid the item in cash or we certified the item).
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TELEPHONE TRANSFERS - A telephone transfer of funds from this account to another account with us, if otherwise arranged for or permitted, may be made by the same persons and under the same conditions generally applicable to withdrawals made in writing. Unless a different limitation is disclosed in writing, we restrict the number of transfers from a savings account to another account or to third parties, to  a maximum of six per month (less the number of “preauthorized transfers” during the month). Other account transfer restrictions may be described elsewhere.
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AMENDMENTS AND TERMINATION - We may change our bylaws and any term of this agreement. Rules governing changes in rates are provided separately in the Truth-in-Savings disclosure or in another document. For other changes we will give you reasonable notice in writing or by any other method permitted by law. We may close this account if your membership in the credit union terminates, or by giving reasonable notice to you and tender of the account balance personally or by mail. Items presented for payment after the account is closed may be dishonored. When you close your account, you are responsible for leaving enough money in  the account to cover any outstanding items and charges to be paid from the account. Reasonable notice depends on the circumstances, and in some cases such as when we cannot verify your identity or we suspect fraud, it might be reasonable for us to give you notice after the change or account closure becomes effective. For instance, if we suspect fraudulent activity with respect to your account, we might immediately freeze or close your account and then give you notice. At our option, we  may suspend your rights to member services if you violate the terms of this agreement. If we have notified you of a change in any term of your account and you continue to have your account after the effective date of the change, you have agreed to the new term(s).
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NOTICES - Any written notice you give us is effective when we actually receive it,  and it must be given to us according to the specific delivery instructions provided elsewhere, if any. We must receive it in time to have a reasonable opportunity to act on it. If the notice is regarding a check or other item, you must give us sufficient information to be able to identify the check or item, including the precise check or  item number, amount, date and payee. Written notice we give you is effective when it is deposited in the United States Mail with proper postage and addressed to your mailing address we have on file and/or by email addressed to the email address we have on file. Notice to any of you is notice to all of you.
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STATEMENTS - Your duty to report unauthorized signatures, alterations and forgeries - You must examine your statement of account with “reasonable promptness.” If you discover (or reasonably should have discovered) any unauthorized signatures or alterations, you must promptly notify us of the relevant facts. As between you and us, if you fail to do either of these duties, you will have to either share the loss with us, or bear the loss entirely yourself (depending on whether we used ordinary care and, if not, whether we substantially contributed to the loss). The loss could be not only with respect to items on the statement but other items with unauthorized signatures or alterations by the same wrongdoer.

 

You agree that the time you have to examine your statement and report to us will depend on the circumstances, but will not, in any circumstance, exceed a total of 30 days from when the statement is first sent or made available to you.

 

You further agree that if you fail to report any unauthorized signatures, alterations or forgeries in your account within 60 days of when we first send or make the statement available, you cannot assert a claim against us on any items in that statement, and  as between you and us the loss will be entirely yours. This 60-day limitation is   without regard to whether we used ordinary care. The limitation in this paragraph is in addition to that contained in the first paragraph of this section.

 

Your duty to report other errors - In addition to your duty to review your statements for unauthorized signatures, alterations and forgeries, you agree to examine your statement with reasonable promptness for any other error - such as an encoding error. In addition, if you receive or we make available either your items or images of your items, you must examine them for any unauthorized or missing endorsements  or any other problems. You agree that the time you have to examine your statement and items and report to us will depend on the circumstances. However, this time period shall not exceed 60 days. Failure to examine your statement and items and report any errors to us within 60 days of when we first send or make the statement available precludes you from asserting a claim against us for any errors on items identified in that statement and as between you and us the loss will be entirely yours.

 

Errors relating to electronic fund transfers or substitute checks - For information on errors relating to electronic fund transfers (e.g., computer, debit card  or ATM transactions) refer to your Electronic Fund Transfers disclosure and the sections on consumer liability and error resolution. For information on errors relating to a substitute check you received, refer to your disclosure entitled Substitute Checks and Your Rights.
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ACCOUNT TRANSFER - This account may not be transferred or assigned without our prior written consent.
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DIRECT DEPOSITS - If we are required for any reason to reimburse the federal government for all or any portion of a benefit payment that was directly deposited into your account, you authorize us to deduct the amount of our liability to the federal government from the account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability.
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TEMPORARY ACCOUNT AGREEMENT - If the account documentation indicates that this is a temporary account agreement, each person who signs to open the account or has authority to make withdrawals (except as indicated to the contrary) may transact business on this account. However, we may at some time in the future restrict or prohibit further use of this account if you fail to comply with the requirements we have imposed within a reasonable time.
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RIGHT TO REPAYMENT OF INDEBTEDNESS - You each agree that we may (without prior notice and when permitted by law) charge against and deduct from this account any due and payable debt any of you owe us now or in the future. If this account is owned by one or more of you as individuals, we may set off any funds in the account against a due and payable debt a partnership owes us now or in the future, to the extent of your liability as a partner for the partnership debt. If your debt arises from a promissory note, then the amount of the due and payable debt will be the full amount we have demanded, as entitled under the terms of the note, and this amount may include any portion of the balance for which we have properly accelerated the due date.

 

In addition to these contract rights, we may also have rights under a “statutory lien.”   A “lien” on property is a creditor’s right to obtain ownership of the property in the  event a debtor defaults on a debt. A “statutory lien” is one created by federal or state statute. If federal or state law provides us with a statutory lien, then we are authorized to apply, without prior notice, your shares and dividends to any debt you owe us, in accord with the statutory lien.

 

Neither our contract rights nor rights under a statutory lien apply to this account if prohibited by law. For example, neither our contract rights nor rights under a statutory lien apply to this account if: (a) it is an Individual Retirement Account or similar tax-deferred account, or (b) the debt is created by a consumer credit transaction under a credit card plan (but this does not affect our rights under any consensual security interest), or (c) the debtor’s right of withdrawal arises only in a representative capacity, or (d) setoff is prohibited by the Military Lending Act or its implementing regulations. We will not be liable for the dishonor of any check or draft when the dishonor occurs because we charge and deduct an amount you owe us from your account. You agree to hold us harmless from any claim arising as a result of our exercise of our right to repayment.

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AUTHORIZED SIGNER (Individual Accounts only) - A single individual is the owner. The authorized signer is merely designated to conduct transactions on the owner’s behalf. The owner does not give up any rights to act on the account, and the authorized signer may not in any manner affect the rights of the owner or beneficiaries, if any, other than by withdrawing funds from the account. The owner is responsible for any transactions of the authorized signer. We undertake no obligation to monitor transactions to determine that they are on the owner’s behalf.

 

The owner may terminate the authorization at any time, and the authorization is automatically terminated by the death of the owner. However, we may continue to honor the transactions of the authorized signer until: (a) we have received written notice or have actual knowledge of the termination of authority, and (b) we have a reasonable opportunity to act on that notice or knowledge. We  may  refuse  to  accept the designation of an authorized signer.
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RESTRICTIVE LEGENDS OR ENDORSEMENTS - The automated  processing  of the large volume of checks we receive prevents us from inspecting or looking for restrictive legends, restrictive endorsements or other special instructions on every check. Examples of restrictive legends placed on checks are “must be presented within 90 days” or “not valid for more than $1,000.00.” The payee’s signature accompanied by the words “for deposit only” is an example of a restrictive endorsement. For this reason, we are not required to honor any restrictive legend or endorsement or other special instruction placed on checks you write unless we have agreed in writing to the restriction or instruction. Unless we have agreed in writing,   we are not responsible for any losses, claims, damages, or expenses that result from your placement of these restrictions or instructions on your checks.
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PAYMENT ORDER OF ITEMS - The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. The payment order can affect the number of items overdrawn or returned unpaid and the amount of the fees you may have to pay. To assist you in managing  your account, we are providing you with the following information regarding how we process those items.

 

Our policy is to process items such as Automated Teller Machine (“ATM”) Transactions, Debit Card Transactions, Teller Transactions, Telephone and On-line (Internet) Transactions, and Wire Transfers in real time as they occur throughout the day. We process Remote Deposit Capture Transaction items, which have been approved, throughout the day. Automated Clearing House (“ACH”) items, which may be sent to us several times a day, are processed in accordance with NACHA Rules. We process Bill Payment transactions together with ACH payments. We process on- us checks in the order received for the day on which they are processed. We process Share Drafts or Checks and similar items according to the dollar amount with the smallest items posted first for the day on which they are processed. We process scheduled transfers after close of business on the day the member designates for payment.

 

If a check, item or transaction is presented without sufficient funds in your account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item for insufficient funds (NSF). We will not charge you a fee for paying an overdraft of an ATM or everyday debit card transaction if this is a consumer account and you have not opted-in to that service. The amounts of the overdraft and NSF fees are disclosed elsewhere, as are your rights to opt in to overdraft services for ATM and everyday debit card transactions, if applicable. We encourage you to make careful records and practice good account management. This will help you to avoid creating items without sufficient funds and potentially incurring the resulting fees.
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FACSIMILE SIGNATURES - Unless you make advance arrangements with us, we have no obligation to honor facsimile signatures on your checks or other orders. If we do agree to honor items containing facsimile signatures, you authorize us, at any time, to charge you for all checks, drafts, or other orders, for the payment of money, that are drawn on us. You give us this authority regardless of by whom or by what means the facsimile signature(s) may have been affixed so long as they resemble  the facsimile signature specimen filed with us, and contain the required number of signatures for this purpose. You must notify us at once if you suspect that your facsimile signature is being or has been misused.
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PLEDGES - Each owner of this account may pledge all or any part of the funds in it for any purpose to which we agree. Any pledge of this account must first be satisfied before the rights of any surviving account owner or account beneficiary become effective.
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CHECK PROCESSING - We process items mechanically by relying solely on the information encoded in magnetic ink along the bottom of the items. This means that we do not individually examine all of your items to determine if the item is properly completed, signed and endorsed or to determine if it contains any information other than what is encoded in magnetic ink. You agree that we have exercised ordinary care if our automated processing is consistent with general banking practice, even though we do not inspect each item. Because we do not inspect each item, if you write a check to multiple payees, we can properly pay the check regardless of the number of endorsements unless you notify us in writing that the check requires multiple endorsements. We must receive the notice in time for us to have a reasonable opportunity to act on it, and you must tell us the precise date of the check, amount, check number and payee. We are not responsible for any unauthorized signature or alteration that would not be identified by a reasonable inspection of the item. Using an automated process helps us keep costs down for  you and all account holders.
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CHECK CASHING - We may charge a fee for anyone that does not have an account with us who is cashing a check, draft or other instrument written on your account. We may also require reasonable identification to cash such a check, draft or other instrument. We can decide what identification is reasonable under the circumstances and such identification may be documentary or physical and may include collecting a thumbprint or fingerprint.

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ENDORSEMENTS - We may accept for deposit any item payable to you or your order, even if they are not endorsed by you. We may give cash back to any one of you. We may supply any missing endorsement(s) for any item we accept for deposit or collection, and you warrant that all endorsements are genuine.

 

To ensure that your check or share draft is processed without delay, you must endorse it (sign it on the back) in a specific area. Your entire endorsement (whether   a signature or a stamp) along with any other endorsement information (e.g. additional endorsements, ID information, driver’s license number, etc.) must fall within 11/2” of the “trailing edge” of a check. Endorsements must be made in blue or black ink, so that they are readable by automated check processing equipment.

 

As you look at the front of a check, the “trailing edge” is the left edge. When you flip the check over, be sure to keep all endorsement information within 11/2” of that edge.
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It is important that you confine the endorsement information to this area since the remaining blank space will be used by others in the processing of the check to place additional needed endorsements and information. You agree that you will indemnify, defend, and hold us harmless for any loss, liability, damage or expense that occurs because your endorsement, another endorsement or information you have printed on the back of the check obscures our endorsement.

 

These endorsement guidelines apply to both personal and business checks.

 

DEATH OR INCOMPETENCE - You agree to notify us promptly if any person with a right to withdraw funds from your account(s) dies or is adjudicated (determined by   the appropriate official) incompetent. We may continue to honor your checks, items, and instructions until: (a) we know of your death or adjudication of incompetence,  and (b) we have had a reasonable opportunity to act on that knowledge. You agree that we may pay or certify checks drawn on or before the date of death or adjudication of incompetence for up to ten (10) days after your death or adjudication of incompetence unless ordered to stop payment by someone claiming an interest in the account.
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FIDUCIARY ACCOUNTS - Accounts may be opened by a person acting in a fiduciary capacity. A fiduciary is someone who is appointed to act on behalf of and for the benefit of another. We are not responsible for the actions of a fiduciary, including the misuse of funds. This account may be opened and maintained by a person or persons named as a trustee under a written trust agreement, or as executors, administrators, or conservators under court orders. You understand that by merely opening such an account, we are not acting in the capacity of a trustee in connection with the trust nor do we undertake any obligation to monitor or enforce the terms of the trust or letters.
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CREDIT VERIFICATION - You agree that we may verify credit and employment history by any necessary means, including preparation of a credit report by a credit reporting agency.
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LEGAL ACTIONS AFFECTING YOUR ACCOUNT - If we are served with a subpoena, restraining order, writ of attachment or execution, levy, garnishment, search warrant, or similar order relating to your account (termed “legal action” in this section), we will comply with that legal action. Or, in our discretion, we may freeze  the assets in the account and not allow any payments out of the account until a final court determination regarding the legal action. We may do these things even if the legal action involves less than all of you. In these cases, we will not have any liability to you if there are insufficient funds to pay your items because we have withdrawn funds from your account or in any way restricted access to your funds in accordance with the legal action. Any fees or expenses we incur in responding to any legal action (including, without limitation, attorneys’ fees and our internal expenses) may be charged against your account. The list of fees applicable to your account(s) provided elsewhere may specify additional fees that we may charge for certain legal actions.
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SECURITY - It is your responsibility to protect the account numbers and electronic access devices (e.g., an ATM card) we provide you for your account(s). Do not discuss, compare, or share information about your account number(s) with anyone unless you are willing to give them full use of your money. An account number can  be used by thieves to issue an electronic debit or to encode your number on a false demand draft which looks like and functions like an authorized check. If you furnish your access device and grant actual authority to make transfers to another person (a family member or coworker, for example) who then exceeds that authority, you are liable for the transfers unless we have been notified that transfers by that person are no longer authorized.

 

Your account number can also be used to electronically remove money from your account, and payment can be made from your account even though you did not contact us directly and order the payment.

 

You must also take precaution in safeguarding your blank checks. Notify us at once if you believe your checks have been lost or stolen. As between you and us, if you are negligent in safeguarding your checks, you must bear the loss entirely yourself or share the loss with us (we may have to share some of the loss if we failed to use ordinary care and if we substantially contributed to the loss).

 

Except for consumer electronic funds transfers subject to Regulation E, you agree that if we offer you services appropriate for your account to help identify and limit fraud or other unauthorized transactions against your account, such as positive pay  or commercially reasonable security procedures, and you reject those services, you will be responsible for any fraudulent or unauthorized transactions which could have been prevented by the services we offered, unless we acted in bad faith or to the extent our negligence contributed to the loss. If we offered you a commercially reasonable security procedure which you reject, you agree that you are responsible for any payment order, whether authorized or not, that we accept in compliance with an alternative security procedure that you have selected.
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TELEPHONIC INSTRUCTIONS - Unless required by law or we have agreed otherwise in writing, we are not required to act upon instructions you give us via facsimile transmission or leave by voice mail or on a telephone answering machine.

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MONITORING AND RECORDING TELEPHONE CALLS AND CONSENT TO RECEIVE COMMUNICATIONS - Subject to federal and state law, we may monitor or record phone calls for security reasons, to maintain a record and to ensure that you receive courteous and efficient service. You consent in advance to any such recording.

 

To provide you with the best possible service in our ongoing business relationship for your account we may need to contact you about your account from time to time by telephone, text messaging or email. However, we must first obtain your consent to contact you about your account because we must comply with the consumer protection provisions in the federal Telephone Consumer Protection Act of 1991 (TCPA), CAN-SPAM Act and their related federal regulations and orders issued by the Federal Communications Commission (FCC).

 

• Your consent is limited to your account, and as authorized by applicable law and regulations.

• Your consent does not authorize us to contact you for telemarketing purposes (unless you otherwise agreed elsewhere).

 

With the above understandings, you authorize us to contact you regarding your account throughout its existence using any telephone numbers or email addresses that you have previously provided to us or that you may subsequently provide to us.

 

This consent is regardless of whether the number we use to contact you is assigned to a landline, a paging service, a cellular wireless service, a specialized mobile radio service, other radio common carrier service or any other service for which you may  be charged for the call. You further authorize us to contact you through the use of voice, voice mail and text messaging, including the use of pre-recorded or artificial voice messages and an automated dialing device.

 

If necessary, you may change or remove any of the telephone numbers or email addresses at any time using any reasonable means to notify us.
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CLAIM OF LOSS - If you claim a credit or refund because of a forgery, alteration, or any other unauthorized withdrawal, you agree to cooperate with us in the investigation of the loss, including giving us an affidavit containing whatever reasonable information we require concerning your account, the transaction, and the circumstances surrounding the loss. You will notify law enforcement authorities of  any criminal act related to the claim of lost, missing, or stolen checks or unauthorized withdrawals. We will have a reasonable period of time to investigate the facts and circumstances surrounding any claim of loss. Unless we have acted in bad faith, we will not be liable for special or consequential damages, including loss of profits or opportunity, or for attorneys’ fees incurred by you.

 

You agree that you will not waive any rights you have to recover your loss against anyone who is obligated to repay, insure, or otherwise reimburse you for your loss. You will pursue your rights or, at our option, assign them to us so that we may   pursue them. Our liability will be reduced by the amount you recover or are entitled to recover from these other sources.
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EARLY WITHDRAWAL PENALTIES (and involuntary withdrawals) - We may impose early withdrawal penalties on a withdrawal from a time account even if you don’t initiate the withdrawal. For instance, the early withdrawal penalty may be imposed if the withdrawal is caused by our setoff against funds in the account or as a result of an attachment or other legal process. We may close your account and impose the early withdrawal penalty on the entire account balance in the event of a partial early withdrawal. See your notice of penalty for early withdrawals for additional information.
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ADDRESS, EMAIL OR NAME CHANGES - You are responsible for notifying us of any change in your address, email or your name. Unless we agree  otherwise, change of address or email or your name must be made in writing by at least one of the account holders. Informing us of your address, email or name change on a check reorder form is not sufficient. We will attempt to communicate with you only by use of the most recent address or email you have provided to us. If provided elsewhere, we may impose a service fee if we attempt to locate you.

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RESOLVING ACCOUNT DISPUTES - We may place an administrative hold on the funds in your account (refuse payment or withdrawal of the funds) if it becomes subject to a claim adverse to (1) your own interest; (2) others claiming an interest as survivors or beneficiaries of your account; or (3) a claim arising by operation of law. The hold may be placed for such period of time as we believe reasonably necessary to allow a legal proceeding to determine the merits of the claim or until we receive evidence satisfactory to us that the dispute has been resolved. We will not be liable for any items that are dishonored as a consequence of placing a hold on funds in  your account for these reasons.
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WAIVER OF NOTICES - To the extent permitted by law, you waive any notice of non-payment, dishonor or protest regarding any items credited to or charged against your account. For example, if you deposit a check and it is returned unpaid or we receive a notice of nonpayment, we do not have to notify you unless required by federal Regulation CC or other law.
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ACH AND WIRE TRANSFERS - This agreement is subject to Article 4A of the Uniform Commercial Code - Fund Transfers as adopted in the state in which you have your account with us. If you originate a fund transfer and you identify by name and number a beneficiary financial institution, an intermediary financial institution or a beneficiary, we and every receiving or beneficiary financial institution may rely on the identifying number to make payment. We may rely on the number even if it identifies  a financial institution, person or account other than the one named. You agree to be bound by automated clearing house association rules. These rules provide, among other things, that payments made to you, or originated by you, are provisional until final settlement is made through a Federal Reserve Bank or payment is otherwise made as provided in Article 4A-403(a) of the Uniform Commercial Code. If we do not receive such payment, we are entitled to a refund from you in the amount credited to your account and the party originating such payment will not be considered to have paid the amount so credited. Credit entries may be made by ACH. If we receive a payment order to credit an account you have with us by wire or ACH, we are not required to give you any notice of the payment order or credit.
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ELECTRONIC FUND TRANSFERS YOUR RIGHTS AND RESPONSIBILITIES

Indicated below are types of Electronic Fund Transfers we are capable of handling, some of which may not apply to your account. Please read this disclosure carefully because it tells you your rights and obligations for the transactions listed. You should keep this notice for future reference.

Electronic Fund Transfers Initiated By Third Parties. You may authorize a third party to initiate electronic fund transfers between your account and the third party’s account. These transfers to make or receive payment may be one-time occurrences or may recur as directed by you. These transfers may use the Automated Clearing House (ACH) or other payments network. Your authorization to the third party to make these transfers can occur in a number of ways. For example, your authorization to convert a check or draft to an electronic fund transfer or to electronically pay a returned check or draft charge can occur when a merchant provides you with notice and you go forward with the transaction (typically, at the  point of purchase, a merchant will post a sign and print the notice on a receipt). In all cases, these third party transfers will require you to provide the third party with your account number and credit union information. This information can be found on your check or draft as well as on a deposit or withdrawal slip. Thus, you should only provide your credit union and account information (whether over the phone, the Internet, or via some other method) to trusted third parties whom you have authorized to initiate these electronic fund transfers. Examples of these transfers include, but are not limited to:

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

• Preauthorized payments. You may make arrangements to pay certain recurring bills from your share draft checking account(s).

• Electronic check or draft conversion. You may authorize a merchant or  other payee to make a one-time electronic payment from your checking or share draft account using information from your check or draft to pay for purchases or pay bills.

• Electronic returned check or draft charge. You may authorize a merchant or other payee to initiate an electronic funds transfer to collect a charge in the event a check or draft is returned for insufficient funds.

Please also see Limitations on frequency of transfers section regarding limitations that apply to savings accounts

Telephone Transfers - types of transfers - You may access your account by telephone 24 hours a day at (800) 284-4725 or (574) 232-4714 using your personal identification number (PIN) and your account numbers, to:

• transfer funds from share draft checking, share savings, line of credit, Money Market, or secondary share accounts to share draft checking, share savings, Money Market, secondary share, or TCU consumer loan accounts

• make payments from share draft checking, share savings, Money Market, or secondary share accounts to loan accounts with us

• get balance information about share draft checking, share savings, line of credit, term share, Money Market, TCU loan accounts, or Credit Cards

• get withdrawal history about share draft checking, share savings, line of credit, Money Market, secondary share, or TCU consumer loan accounts

• get deposit history about share draft checking, share savings, line of credit, Money Market, or secondary share accounts

• get transaction history about share draft checking, share savings, line of credit, Money Market, or TCU loan accounts

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

ATM Transfers - types of transfers and dollar limitations - You may access your account(s) by ATM using your Teachers ATM Card and personal identification number (PIN) or TCU Debit Mastercard® and personal identification number (PIN), to:

• make deposits to share draft checking, share savings, or Money Market account(s)

- you may deposit no more than $10,000.00 per day

• get cash withdrawals from share draft checking, share savings, Money Market, or line of credit account(s)

- you may withdraw no more than $200.00 per day (or the limit disclosed to you personally)

• transfer funds from share draft checking, share savings, or Money Market account(s) to share draft checking, share savings, Money Market, or TCU loan account(s)

• make payments from share draft checking, share savings, or Money Market account(s) to loan accounts with us

• get balance information about share draft checking, share savings, Money Market account(s) or Credit Cards

Some of these services may not be available at all terminals.

Please also see Limitations on frequency of transfers section regarding limitations that apply to ATM transfers.

Types of TCU Debit Mastercard® Point-of-Sale Transactions - You may access your share draft checking account(s) to purchase goods, (in person, by phone, or by computer), pay for services (in person, by phone, or by computer), get cash from a merchant, if the merchant permits, or from a participating financial institution, and do anything that you can do with a credit card (that a participating merchant will accept with a credit card).

Point-of-Sale Transactions - dollar limitations - Using your card:

• you may not exceed $5,000.00 in transactions on a daily basis (other limits  may apply)

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

Currency Conversion and Cross-Border Transaction Fees. If you effect a transaction with your TCU Debit Mastercard® in a currency other than US Dollars, Mastercard will convert the charge into a US Dollar amount. The Mastercard currency conversion procedure includes use of either a government-mandated exchange rate, or a wholesale exchange rate selected by Mastercard. The exchange rate Mastercard uses will be a rate in effect on the day the transaction is processed. This rate may differ from the rate in effect on the date of purchase or the date the transaction was posted to your account.

Mastercard charges us a Currency Conversion Assessment of 20 basis points (.2%  of the transaction) for performing the currency conversion. In addition, Mastercard charges us an Issuer Cross-Border Assessment of 90 basis points (.9% of the transaction) on all cross-border transactions regardless of whether there is a currency conversion. As a result, we charge you a Currency Conversion fee of .2% and a Cross-Border Transaction fee of .9%. The Cross-Border Transaction fee is charged on all cross-border transactions regardless of whether there is a currency conversion. A cross-border transaction is a transaction processed through the Global Clearing Management System or the Mastercard Debit Switch in which the country of the merchant is different than the country of the cardholder.

Advisory Against Illegal Use. You agree not to use your card(s) for illegal gambling or other illegal purpose. Display of a payment card logo by, for example, an online merchant does not necessarily mean that transactions are lawful in all jurisdictions in which the cardholder may be located.

You agree not to attempt to log on to any Website and make purchases using your TCU Debit Card from any country under sanctions by the Office of Foreign Assets Control (OFAC). Information regarding which countries are under sanctions may be obtained on the U.S. Department of the Treasury website. Any attempt to log on to these Websites and make purchases from one of these countries may result in your access to your TCU Debit Card being restricted and/or terminated.

PIN-less Debit Transaction Processing. We have enabled PIN-less debit transaction processing. This means you may use your TCU Debit Mastercard on a PIN-Debit Network* (a non-Mastercard network) without using a PIN.

The PIN-less debit network(s) for which such transactions are enabled are: STAR  and NYCE Networks.

Examples of the types of actions that you may be required to make to initiate a Mastercard transaction on your TCU Debit Mastercard include signing a receipt, providing a card number over the phone or via the Internet, or swiping the card through a point-of-sale terminal.

Examples of the types of actions you may be required to make to initiate a transaction on a PIN-Debit Network include initiating a payment directly with the biller (possibly via telephone, Internet, or kiosk locations), responding to a logo displayed  at a payment site and choosing to direct payment through that network, and having your identity verified using known information derived from an existing relationship with you instead of through use of a PIN.

The provisions of your agreement with us relating only to Mastercard transactions   are not applicable to PIN-less debit transactions. For example, the additional limits   on liability (sometimes referred to as Mastercard's zero-liability program) are not applicable to transactions processed on a PIN-Debit Network.

You  may  be  eligible  to  add  your  TCU  Debit  Mastercard®  to  Apple  PayTM,  Google PayTM, and Samsung PayTM.

Apple Pay, Google Pay, and Samsung Pay allows you to conveniently make purchases with your phone wherever Mastercard® contactless payments are accepted.

Please Note: In your Apple Pay, Google Pay, and Samsung Pay account, you will  see a unique device account number listed under your TCU Debit Mastercard®. This number improves security because it’s only used with your device. Use this number whenever an Apple Pay, Google Pay, and Samsung Pay merchant asks for the last 4 digits of your card's number.

Pay with Apple Pay, Google Pay, and Samsung Pay at participating merchants displaying the Apple, Google or Samsung or Apple Pay, Google Pay, and Samsung Pay symbols.

Additionally, Apple Pay, Google Pay, and Samsung Pay can be used with participating merchants displaying the Apple Pay, Google Pay, and Samsung Pay button when you’re shopping with an app.

Apple Pay purchases you make with this card will be marked as “AplPay” on your statements.

Google Pay purchases you make with this card will be marked as “APl” on your statements.

Samsung Pay purchases you make with this card will be marked as “Samsung Pay” on your statements.

Please note that you may need to accept additional terms and conditions before accepting and using Apple Pay, Google Pay, and Samsung Pay.

You may sign up for alerts on your mobile devices to get an alert when certain transactions are processed, such as international or online purchases. *Standard text messaging and data rates may apply.

Touch ID (TM)

Touch ID(TM)  Authentication is an optional authentication method offered by Teachers Credit Union to sign into Teachers Credit Union Mobile Banking. You can turn this feature on or off by checking or un-checking the “Enable Touch ID” check box on the Settings screen. Fingerprints are stored on your device only. Teachers Credit Union never sees your fingerprint information and does not store this fingerprint information. Your User ID and password will be encrypted and stored in your device(s). You acknowledge that by enabling Touch IDTM, you will allow anyone who has a fingerprint stored on your device access to your personal and payment account information on Teachers Credit Union Mobile Banking. You understand that if you choose to use features that enable access to your account by multiple users on your access device(s), you are solely responsible for any such use by you or any other person, and any activity initiated by another person will be considered to be activity you have authorized. You also accept full responsibility for the monitoring of your account. If you believe someone has gained unauthorized access to your account or your password has been stolen, call 24 hours a day toll-free: (800) 552-4745. If in Indiana or outside the United States, call (574) 284-6247 or write: Teachers Credit Union, Attn: Security Department, PO Box 1395, South Bend, IN 46624-1395. Teachers Credit Union reserves the right to suspend or disable this feature at any time.

TCU Text Message Banking Services Terms and Conditions. By participating in the Text Message Banking Services program, you are agreeing to the Terms and Conditions presented here; message and data rates may also apply to use this service. For help text “HELP” to the short code listed on the website. To cancel  your text message banking service, text “STOP” to 226563 at any time. You can also cancel the service by logging into Internet Banking, going to the Mobile Banking & Alerts tab, and deactivating the service. In case of questions please contact member service at memberservices@tcunet.com or call 800-552-4745. This service is provided under the terms of the privacy policy provided by TCU.

Internet Banking and Texting Transfers:

(Internet, Mobile and Text Banking) You may access your account(s) electronically:

a) from a computer with internet access; b) by installing the TCU app on your mobile device; or c) via text messaging. Visit tcunet.com for more information on setting up each of these banking features. Once logged in, you can:

• transfer funds from share draft checking, share savings, line of credit, Money Market, or secondary share accounts to share draft checking, share savings, Money Market, secondary share, or TCU consumer loan accounts

• make payments from share draft checking, share savings, Money Market, or secondary share accounts to loan account(s) with us

• make payments from share draft checking to third parties using the Bill Payment service

• get balance information about share draft checking, share savings, line of credit, term share, Money Market, TCU loan accounts or Credit Cards

• get withdrawal history about share draft checking, share savings, line of credit, Money Market, secondary share, or TCU consumer loan accounts

• get deposit history about share draft checking, share savings, line of credit, Money Market, or secondary share accounts

• get transaction history about share draft checking, share savings, line of credit, Money Market, secondary share, or TCU loan accounts

Please also see Limitations on frequency of transfers section regarding limitations that apply to computer transfers.

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

• During any month, you may not make more than six withdrawals or transfers from a share savings or money market account to another credit union account of yours or to a third party by means of a preauthorized, automatic, or computer transfer, telephonic order or instruction, or by check,  draft,  debit card, or similar order to a third party. If you exceed the transfer limitations set forth above, your account will be subject to closure by the credit union.

• For security reasons, there are other limits on the number of transfers you can make by ATM.

• For security reasons, there are other limits on the number of transfers you can make by telephone.

• For security reasons, there are other limits on the number of transfers you can make by debit card.

• For security reasons, there are other limits on the number of transfers you can make by computer.

FEES

We do not charge for preauthorized payments from any type of account.

Except as indicated elsewhere, we do not charge for these electronic fund transfers.

ATM Operator/Network Fees. When you use an ATM not owned by us, you may be charged a fee by the ATM operator or any network used (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer).
 

DOCUMENTATION

• Terminal transfers. You can get a receipt at the time you make a transfer to  or from your account using an automated teller machine or point-of-sale terminal. However, you may not get a receipt if the amount of the transfer is

$15 or less.

• Preauthorized credits. If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call us at (574) 284-6247 to find out whether or not the deposit has been made.

• Periodic statements.

You will get a monthly account statement from us for your share draft checking accounts.

You will get a monthly account statement from us for your share savings accounts, unless there are no transfers in a particular month. In any case, you will get a statement at least quarterly.

PREAUTHORIZED PAYMENTS

• Right to stop payment and procedure for doing so. If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here is how:

Call or write us at the telephone number or address listed in this disclosure in time for us to receive your request 3 business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call.

• Notice of varying amounts. If these regular payments may vary in amount, the person you are going to pay will tell you, 10 days before each payment, when it will be made and how much it will be. (You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain   limits that you set.)

• Liability for failure to stop payment of preauthorized transfer. If you order us to stop one of these payments 3 business days or more before the transfer  is scheduled, and we do not do so, we will be liable for your losses or damages.

FINANCIAL INSTITUTION'S LIABILITY

Liability for failure to make transfers. If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

(1) If, through no fault of ours, you do not have enough money in your account to make the transfer.

(2) If you have an overdraft line and the transfer would go over the credit limit.

(3) If the automated teller machine where you are making the transfer does not have enough cash.

(4) If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.

(5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.

(6) There may be other exceptions stated in our agreement with you.
 

CONFIDENTIALITY

We will disclose information to third parties about your account or the transfers you make:

(1) where it is necessary for completing transfers; or

(2) in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; or

(3) in order to comply with government agency or court orders; or

(4) as explained in the separate Privacy Disclosure.
 

UNAUTHORIZED TRANSFERS

(a) Consumer liability.

• Generally. Tell us AT ONCE if you believe your card and/or code has been lost or stolen, or if you believe that an electronic fund transfer has been made without  your permission using information from your check or draft. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum overdraft line of credit). If you tell us within 2 business days after you learn of the loss or theft of your card and/or code, you can lose no more than $50 if someone used your card and/or code without your permission.

If you do NOT tell us within 2 business days after you learn of the loss or theft of your card and/or code, and we can prove we could have stopped someone from  using your card and/or code without your permission if you had told us, you could  lose as much as $500.

Also, if your statement shows transfers that you did not make, including those made by card, code or other means, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you  lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time.

If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.

• Additional Limits on Liability for TCU Debit Mastercard®. You will not be liable for any unauthorized transactions using your TCU Debit Mastercard® if: (i) you can demonstrate that you have exercised reasonable care in safeguarding your card from the risk of loss or theft, and (ii) upon becoming aware of a loss or theft, you promptly report the loss or theft to us. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

(b) Contact in event of unauthorized transfer. If you believe your card and/or code has been lost or stolen, call or write us at the telephone number or address listed in this disclosure. You should also call the number or write to the address listed in this disclosure if you believe a transfer has been made using the information from your check or draft without your permission.
 

ERROR RESOLUTION NOTICE

In Case of Errors or Questions About Your Electronic Transfers, Call or Write us at the telephone number or address listed in this disclosure, as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.

(1) Tell us your name and account number (if any).

(2) Describe the error or the transfer you are unsure about, and explain  as clearly as you can why you believe it is an error or why you need more information.

(3) Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question  in writing within 10 business days.

We will determine whether an error occurred within 10 business days (20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a new account, a point-of-sale transaction, or a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (20 business days if the transfer involved a new account) for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. Your account is considered a new account for the first 30 days after the first deposit is made, unless each of you  already has an established account with us before this account is opened.

We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation.

You may ask for copies of the documents that we used in our investigation.

TEACHERS CREDIT UNION 110 SOUTH MAIN STREET SOUTH BEND, INDIANA 46601

Business Days: Monday through Friday Except Holidays

Phone: (574) 284-6247 or (800) 552-4745

E-mail: webmaster@tcunet.com

MORE DETAILED INFORMATION IS AVAILABLE ON REQUEST

Member Responsibility

You further agree that you will be the only one to use the Teachers ATM/Debit Mastercard® assigned to you, and that you will not divulge, give, disclose or make available to any other person, even Teachers Credit Union employees, your Personal Identification Number either directly or indirectly at any time.

Personal Identification Number - Teachers Credit Union will issue to you a Personal Identification Number to be used with your TCU ATM Card or Debit Mastercard® and you agree not to carry your secret Personal Identification Number with you at the same time as you carry your card. You further agree to use your best efforts to memorize your Personal Identification Number.

TCU Debit Mastercard® Rebate Disclosure

Eligibility. The Rebate Program is available to Members in good standing who have one of the following cards: Teachers Credit Union TCU Debit Mastercard® and Teachers Credit Union Health Savings Account Card, (hereinafter referred to as "Check Cards") are automatically enrolled in the Rebate Program (hereinafter referred to as "Enrolled Members"). Program Eligibility is subject to change.

Check cards are issued to make debit card transactions on a Member's Membership Account and sub-accounts, including shares and share draft accounts ("Membership Account"). All Membership Accounts must be in good standing, to participate in the Rebate Program; and all of the Member's loans ("Loan Accounts") must be in good standing.

Rebate. Rebates are earned on "Eligible Signature Purchases" made with the Check Card to make purchase transactions that require a Member (personal) signature. Rebates are not earned on cash advances, returned purchases, balance transfers, Automated Teller Machine (ATM) transactions or transactions made using a Personal Identification Number (PIN).

Enrolled Members must spend $6,000.00 in Eligible Signature Purchases, in a calendar year*, to qualify for the Rebate Program. Once the $6,000.00 annual minimum is met, Enrolled Members will earn a Rebate equal to .50% of the entire amount of Eligible Signature Purchases for goods and services paid for with your Teachers Credit Union TCU Debit Mastercard®, up to a maximum annual cash rebate amount of $500.00.

Rebate Redemption. Rebates may be redeemed any time the accumulated rebate balance reaches a minimum of $30.00. Rebates may be redeemed:  online,  by visiting Teachers Credit Union's Internet Banking Site at https://www.tcunet.com; in person, by visiting the nearest service center location; or, by sending a  written request to Teachers Credit Union Member Services Department, P.O. Box 1395, South Bend, Indiana 46624-1392.

Maximum Annual Rebate: $500.00

Forfeiture. All Rebates expire three (3) years from the end of the Calendar Year, in which they are earned.

Other Terms and Conditions. Statements-Information about the Debit Card Rebate Program will be available online or on periodic account statements.

Rebates may only be redeemed if the Member is in good standing with Teachers Credit Union. Rebates will not be redeemed if: the Member's Check Card is closed; any Member's loan is in default; or the Member owes Teachers Credit Union money for fees or negative balances. If any of the foregoing occurs the rebate will expire immediately and will not be available for redemption.

Rebates are non-negotiable and non-transferable. Teachers Credit Union reserves the right to disqualify any person from participation in the Rebate Program if, in Teachers Credit Union's sole judgment, that person or another person has violated the Rebate Program Rules or the By-laws of Teachers Credit Union.

Teachers Credit Union also reserves the right to amend or terminate the Rebate Program at any time, upon thirty (30) days written notice. If the Rebate Program is terminated, Enrolled Members will be granted twelve months, from the Program termination date, to redeem the Rebate.

Rebate redemptions may subject Enrolled Member to tax liability.

*The Rebate will be calculated on a calendar year basis.
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YOUR ABILITY TO WITHDRAW FUNDS

This policy statement applies to all accounts.

Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once the funds are available, you can withdraw them in cash and we will use the funds to pay checks  that you have written.

Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.

For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit before 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.

If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.

If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.
 

LONGER DELAYS MAY APPLY

Case-by-case delays. In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the second business day after the day of your deposit. The first $200 of your deposits, however, will be available on the first 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   first business day, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your deposit.

If you will need the funds from a deposit right away, you should ask us when the funds will be available.

Safeguard exceptions. In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:

We believe a check you deposit will not be paid.

You deposit checks totaling more than $5,000 on any one day. You redeposit a check that has been returned unpaid.

You have overdrawn your account repeatedly in the last six months.

There is an emergency, such as failure of computer or communications equipment.

You deposit a check that came from a non-U.S. financial institution.

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 seventh business day after the day of your deposit.
 

SPECIAL RULES FOR NEW ACCOUNTS

If you are a new member, the following special rules will apply during the first 30 days your account is open.

Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash made in person to one of our employees, wire transfers, checks drawn on Teachers Credit Union or a branch of Teachers Credit Union that is located in the same state or check processing region  as Teachers Credit Union, and the first $5,000 of a day’s total deposits of cashier’s, certified, teller’s, traveler’s, and federal, state and local government checks will be available on the first business day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you (and you may have to use a special deposit slip). The excess over $5,000 will be available on the ninth business day after the day of your deposit. If your deposit of these checks  (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,000 will not be available until the second business day after the day of your deposit. Also, funds from deposits of cash not made in person to one of our employees will not be available until the second business day after the day of your deposit.

Funds from all other check deposits will be available on the ninth business day after the day of your deposit.
 

DEPOSITS AT AUTOMATED TELLER MACHINES

Funds from any deposits (cash or checks) made at automated teller machines (ATMs) we own or operate will be available on the second business day after the day of deposit, except that U.S. Treasury checks that are payable to you will be available on the first business day after the day of deposit. Also, the first $200 of a deposit will be available on the first business day after the day of deposit. Checks drawn on Teachers Credit Union will be available on the first business day after the day of deposit if the deposit is made at an ATM located on our premises.

Funds from any deposits (cash or checks) made at automated teller machines (ATMs) we do not own or operate will not be available until the fifth business day  after the day of your deposit.

All ATMs that we own or operate are identified as our machines.

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INTERNET BANKING

Teachers Credit Union (“TCU”) does not share your personal (non-public) information with nonaffiliates.

View Teachers Credit Union’s complete privacy statement and terms of use at https://www.tcunet.com.
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COMMON FEATURES

 

Bylaw requirements:

 

You must complete payment of one share in your Primary Share account as a condition of admission to membership. If at any time your balance falls below the par value of one share and you do not increase the balance to at least the par value of one share within ninety day(s) of the reduction, you may be terminated from membership.

 

Transaction limitation - We reserve the right to at any time require not less than seven days notice in writing before each withdrawal from an interest-bearing account other than a time deposit or demand deposit, or from any other savings account as defined by Regulation D.

 

Nature of dividends - Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. The dividend rate and annual percentage yield may change at any time, as determined by the Credit Union Board of Directors. (This disclosure further explains the dividend feature of your non-term share account(s).)

 

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

 

Non-sufficient Funds (NSF) Item - is an ATM, ACH, Debit Card, preauthorized withdrawal or share draft checking withdrawal request, which is returned, without payment, due to insufficient funds.

 

Overdraft Item - is an ATM, ACH, Debit Card, preauthorized withdrawal or share draft checking withdrawal request, which is honored, but which overdraws the account balance.

 

The following fees may be assessed against your account and the following transaction limitations, if any, apply to your account.

 

• Membership entrance fee$7.00

ATM/Debit Fees

• ATM card service fee$2.00/month

Except if you have one of the following relationships with TCU: An average monthly total deposit balance greater than or equal to $200, or Direct Deposit  (net pay or ACH), or the primary member is 22 years of age or younger, or a   TCU loan.

 

ATM cash withdrawal dollar limit

$200.00 per day, or the limit disclosed to you personally

• ATM foreign transaction fee (at non-proprietary ATMs)$2.00
• ATM Overdraft Fee$32.00
• Replacement of lost or stolen debit or ATM card$5.00
• Debit Card Overdraft Fee$32.00

Debit card purchase from share draft account(s)

$5,000 on a daily basis (other limits may apply)

 

Share Draft Checking Fees

• Share Draft Checking Overdraft Item Fee$32.00
• Share Draft Checking NSF Fee$32.00
• Share Draft Checking Stop Payment Fee, per item$33.00
• Deposit item, returned for non-payment, per item$15.00
• Temporary Draft, each$1.00
• Draft printingfee depends on style of draft ordered
• Copy of Draft, per item$1.00
• Share Draft Checking Certification, per item$5.00

Share Draft Checking Account Early Closure,

• if closed within 6 months of opening$25.00

Share Draft Checking Account Reopen,

• if reopened within 12 months of opening date$25.00
• Overdraft Protection Convenience Charge$2.00

A $2.00 Overdraft Transfer Convenience Charge will be assessed for each overdraft transfer initiated by TCU from a Share Savings, Money Market or other deposit account to a Share Draft Checking Account. 

Cashiers Draft Fees

• Cashiers Draft, each check$5.00

Except Checks $1000 or more, checks made payable to TCU, TCU subsidiaries, and TCU Credit Cards

• Cashiers Draft Declaration of Loss$30.00
• Cashiers Draft voided, per item$2.00

Any cashier's draft not submitted for payment within 90 days will be voided and this fee charged to the member that purchased the check. 

ACH Fees

• ACH Overdraft Item Fee$32.00
• ACH NSF Item Fee$32.00
• ACH Stop Payments, per item$33.00
• Preauthorized Withdrawal NSF Fee$32.00

Telephone Fees

• Telephone access to transaction history, per inquiry$2.00

History limit of the last 5 transactions from share draft account, share savings account, line of credit, Money Market account, or TCU loan

• Telephone Transfer, per call$2.00

Except if the transfer is to TCU subsidiaries, to pay any TCU loan, or between different member numbers 

Wire Transfer Fees

• Domestic wire transfer (outgoing)$30.00
• Foreign wire transfer (outgoing)$50.00
• Wire transfer (incoming)$10.00
• Western UnionFee based on amount of wire

IRA Fees

• IRA Service Fee$50.00

if account closed within 90 days of opening

• IRA Share Account Service Fee, per year$24.00

if systematic deposits of $25.00 per month are not maintained 

Bill Payment Fees

• Bill Payment Stop Payments, per item$33.00

Check Cashing or Negotiating Fees

Except members having an open share draft checking, total share balance greater than $250, any open loan, direct deposit, members under the age of 23, cashing a TCU Cashiers Check or cashing a TCU draft

• Checks $99 and less, per check$3.00
• Checks $100 to $499, per check$5.00
• Checks $500 to $999, per check$10.00
• Checks $1000 to $4,999, per check$20.00
• Checks $5000 and over, per check$50.00

Other Fees

• Account activity printout$2.00
• Account balancing assistance, per hour$20.00
• Copy of statement (excluding HELOC statements), each$4.00
• Safe Deposit or Deposit Boxesvaries by size
• Escheated account processing fee$30.00
• Foreign Check item processing fee, per item$10.00
• TCU Visa Gift Card$3.00
• Reloadable Visa Card$7.00
• Reloadable Visa Card, reload$3.00
• Replacement 1098, 1099, or 5498$4.00
• Membership inactivity fee, per month$5.00

(Inactivity means no member contact to perform a financial transaction, such as a deposit or withdrawal, in the Membership Account (Share/Share Draft Checking/Special Shares) for the preceding twelve months.) 

The inactivity fee is waived for a Membership Account with a primary member who is under the age of 18; or a Membership Account with an open Health Savings Account (HSA), Individual Retirement Account (IRA), Share Certificate or deposit balance of $10,000 or greater, or a loan on the 25th of the month. The inactivity fee will first be assessed against any Share Draft Checking Account, Money Market Share Draft Checking Account, Primary Share Account (down to $5.00), Secondary Share Account, Money Market Share Account, Primary Share Account (down to $0.00) and close. Activity does not mean the posting of a dividend or assessment of a fee.

• Levy, garnishment, attachment fee$20.00
• Expedited payment fee$10.00

Mortgage reamortization fee

• (Upon request for principal payments larger than $10,000.00)$250.00

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TEACHERS CREDIT UNION
110 SOUTH MAIN ST. SOUTH BEND, IN 46601
(574) 232-8012

 

TCU Rev. 05/18

Form AIB-CU 6/1/2016 Custom TCM-15CUv,2bi,3p,4r 201024960-010
© 2016 Wolters Kluwer Financial Services - Bankers Systems™