TERMS AND CONDITIONS OF YOUR ACCOUNT
IMPORTANT INFORMATION ABOUT PROCEDURES FOR
OPENING A NEW ACCOUNT
To help the government fight the funding of terrorism and
money laundering activities, federal law requires all financial institutions to
obtain, verify, and record information that identifies each person who opens an
What this means for you: When you open an account, we
will ask for your name, address, date of birth, and other information that will
allow us to identify you. We may also ask to see your driver's license or other
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.
STOP PAYMENTS -
In the event a Teller or Cashier’s Check
drawn on this institution is lost, stolen, or destroyed, the purchase of an
indemnity bond may be required before it will be replaced or refunded. In the
absence of an indemnity bond, reimbursement may result in a 90 day waiting
OF ITEMS - The law permits us to pay
items (such as checks or drafts) drawn on your account in any order. To assist
you in handling your account with us, we
are providing you with the following information regarding how we process the
items that you authorize. When processing items drawn on your account, our
policy is to pay checks or drafts in numerical sequence. Lower item numbers are
paid first. ATM and point-of-sale transactions are paid in the order they are
received, and ACH items are paid as they are received multiple times during the
day. ACH rules allow for the processing of same day ACH credits and debits. 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. There is no policy that is favorable in every instance. If
the smallest items are paid first, you may have fewer NSF or overdraft fees,
but the largest, and perhaps more important items (such as rent or mortgage
payments) might not be paid. If an item
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 (NSF). The
amounts of the overdraft and NSF fees are disclosed elsewhere. By paying items in numerical sequence, we believe our
policy attains a reasonable balance between minimizing
additional cost to you and paying your more important items. We encourage you
to make careful records and practice good account management. This will
help you to avoid writing checks or drafts without sufficient funds and
incurring the resulting fees.
ACCOUNTS (HSA) - For your convenience,
we permit you to take distributions from your HSA by check. This feature can
raise a variety of tax concerns – for example getting additional cash back on
an HSA checking transaction. As a result, if you have more than one account
with us, it is a good practice to make sure you are using the appropriate
checkbook for the transaction. Also, it is your responsibility to ensure your
distributions and other actions related to the HSA comply with the law,
including federal tax law. As always, we recommend consulting a legal or tax
professional if you have any questions about managing your HSA. The terms of
this agreement are intended to work in conjunction with the HSA Agreement
provided to you earlier. In the event of a conflict, the terms of the HSA
Agreement control. You understand that your HSA is intended to be used for
payment of qualified medical expenses. It is your responsibility to satisfy any
tax liability resulting from use of your HSA for any purpose other than payment or reimbursement
of qualified medical expenses.
We do not monitor the purpose of any transaction to or from your HSA. Nor are
we responsible for ensuring your eligibility for making contributions or
ensuring withdrawals are used for payment or reimbursement of qualified medical
expenses. Refer to your HSA Agreement for more information relating to the use
of your HSA.
MONITORING AND CONTACTING YOU - You
agree, in order for us to service your account or to collect any amounts you
may owe, that we, our agents, and our servicer company may monitor and/or
record any telephone communications with you. We also may contact you for all
purposes (including for collection purposes) using all forms of communication,
including voice, text messaging, and email, and all contact information you
provide to us, including any cellular telephone number and email address you have provided to us. You agree
that we may use automated equipment
to dial your telephone number or to deliver messages to you. You may limit this
consent based on the options we may provide by calling our Member Services department. Any charges for contacting you
that may be billed to you by your communications
carrier are your responsibility.
ELECTRONIC FUND TRANSFERS YOUR RIGHTS AND RESPONSIBILITIES
This Electronic Fund Transfer disclosure does
not apply to any accounts other than consumer accounts, as defined by
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.
(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. 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.
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.
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
Mastercard Debit Card. You will not be liable for any unauthorized transactions using your Mastercard
Debit Card 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: 940-720-8000 or toll free 800-600-7517; or
Write: Union Square Credit Union
Member Services Department
Wichita Falls, Texas, 76301
You should also call the number or write to the address
listed above if you believe a transfer has been made using the information from
your check without your permission.
Business days. For purposes of these disclosures, our business days are
Monday through Saturday (Parker Square location only for Saturday). Federal
holidays are not included.
Transfer types and
Account access. You may use your card and/or code to:
• Withdraw cash
from your checking or savings account.
• Make deposits
to your checking or savings account.
Transfer funds between your checking and
savings accounts whenever you request.
• Pay for
purchases at places that have agreed to accept the card and/or code.
Pay bills directly by telephone from
your checking or savings account in the amounts and on the days you request.
of these services may not be available at all terminals.
check conversion. You may authorize a
merchant or other payee to make a
one-time electronic payment from your checking account using information from
your check to:
• Pay for purchases.
• Pay bills.
Health Savings Accounts (HSA). We permit some electronic fund transfers to
and/or from you HSA. The electronic fund transfers we permit are offered for
the convenience of managing your HSA. However, electronically moving funds to
or from your HSA – for example, depositing more than the allowable amount, or getting additional cash back on an HSA debit card transaction –
can raise a variety of tax concerns. As a result, before electronically
accessing any account you may have with us, it is good practice to make sure
you are using the correct access device (such as a card) or
accessing the appropriate account for the transaction.
Also, it is your responsibility
to ensure the contributions, distributions, and other actions related to your
HSA, comply with the law, including federal tax law. As always, we recommend
consulting a legal or tax professional if you have any questions about managing
your HSA. The terms of this disclosure are intended to work in conjunction with
the HSA Agreement provided to you earlier. In the event of a conflict, the
terms of the HSA Agreement control. You understand that your HSA is intended to
be used for payment of qualified medical
expenses. It is your responsibility to
satisfy any tax liability resulting from use of your HSA for
any purpose other than payment or reimbursement of qualified medical expenses.
We do not monitor the purpose of any transaction to or from your HSA. Nor are we responsible
for ensuring your eligibility for
making contributions or ensuring
withdrawals are used for payment or reimbursement of qualified medical expenses. Refer to your HSA Agreement for more information relating to the use of your HSA.
frequency of transfers.
Maximum of 12 PIN Debit Card purchases or PIN POS
transactions per day.
Maximum number of seven (7) cash withdrawals from ATMs
Maximum number of
20 signature Debit Card purchases or signature POS transactions per day.
security reasons, there are limits on the number of transfers you can make
using our terminals, and point-of-sale transfer service.
Limitations on dollar
amounts of transfers
may withdraw up to $500 from our terminals each day using the
card and/or code.
may buy up to $1,500 worth of goods or services each day you use the card
and/or code in a point-of-sale transfer service.
transfer charge. There is a $1.00 charge
for transactions at other financial institution-owned ATMs. Additional fees may
apply as determined by the ATM operator.
Conversion and Cross-Border Transaction Fees. If you effect a transaction with your Mastercard Debit
Card in a currency other than U.S. dollars, Mastercard will convert the charge
into a U.S. 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 (0.2% of the transaction) for performing the currency
conversion. In addition, Mastercard charges us an Issuer Cross-Border
Assessment of 90 basis points (0.9% of the transaction) on all cross-border
transactions regardless of whether there is a currency conversion. We charge
you a Cross-Border Transaction fee of 1% 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.
We will disclose information to third
parties about your account or the transfers you make:
• Where it is
necessary for completing transfers, or
order to verify the existence and condition of your account for a third party,
such as a credit bureau or merchant, or
• In order to
comply with government agency or court orders,
• If you give us
your written permission.
• Terminal transfers. You
can get a receipt at the time you make any transfer to or from your account
using one of our automated teller machines or point-of- sale terminals.
• Preauthorized credits. If
you have arranged to have direct deposits made to your account at least once
every 60 days from the same person or company, you can call us at 940-720-8000
or toll free at 800-600-7517 to find out whether or not the deposit has been made.
• Periodic statements.
You will get a monthly account statement for your checking account. You will get a
monthly account statement for your share savings account unless there are no
transfers in a particular month. In any case you will get the statement at
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.
Call us at 940-720-8000 or
Write us at
Union Square Credit Union 1401 Holliday
Wichita Falls, Texas 76301
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. We will charge you $30 for each stop-payment order you give.
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.
institution’s liability. 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:
If, through no fault of ours, you do not
have enough money in your account to make the
If the transfer would go over the credit limit on your
If the automated teller machine where
you are making the transfer does not have enough cash.
If the terminal or system was not
working properly and you knew about the breakdown when you started the transfer.
If circumstances beyond our control
(such as fire or flood) prevent the transfer, despite reasonable precautions
that we have taken.
There may be other exceptions stated in our agreement
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).
Error Resolution Notice
In Case of Errors or Questions About Your Electronic
Transfers, call or write us at the telephone number and 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
Call us at 940-720-8000 or
Write us at Union Square Credit Union
Wichita Falls, Texas 76301
Tell us your name and account number (if any).
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.
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.
will determine whether an error occurred within 10 business days after we hear
from you and will correct any error promptly. If we need more time, however, we
may take up to 45 days to investigate your complaint or question. If we decide
to do this, we will credit your account within 10 business days for the amount
you think is in error, so that you will
have the use of the money during the
time it takes us to complete our investigation. If we ask you to put your
complaint or question in writing and we do not receive it within 10 business
days, we may not credit your account.
errors involving new accounts, point-of-sale, or foreign-initiated
transactions, we may take up to 90 days to investigate your complaint or
question. For new accounts, we may take up to 20 business days to credit your
account for the amount you think is in error. Your account is considered a new
account for the first 30 days after the first deposit is made, unless each of
you already have an established account with us before this account is opened.
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
NOTICE OF BASIC SAFETY
PRECAUTIONS FOR ATM CARD AND NIGHT DEPOSIT FACILITY USERS
As with all financial transactions, please exercise
discretion when using an automated teller machine (ATM), night deposit facility
or using your ATM card to make purchases on the Internet. For your own safety,
be careful. The following suggestions may be helpful.
Prepare for your transactions at home (for
instance, by filling out a deposit slip)
to minimize your time at the ATM or night deposit facility.
Mark each transaction in your account
record, but not while at the ATM or night deposit facility. Always keep your
ATM receipts secure. Don’t leave them at the ATM or night deposit facility because they may contain important account information. Shred your ATM receipts once they are no longer needed.
Don’t lend your Mastercard Debit Card to anyone.
Remember, do not leave your card at the
ATM. Do not leave any financial documents at a night deposit facility or lying
Protect the secrecy of your Personal
Identification Number (PIN). Protect your Mastercard Debit Card as though it
were cash. If your card has an embedded chip, consider keeping the card in a
safety envelope to avoid undetected and unauthorized
scanning. Don’t tell anyone your PIN. Don’t give anyone information
regarding your Mastercard Debit Card or PIN over the telephone or Internet. If
your Mastercard Debit Card can be used to make purchases, only consider
providing card information over the telephone or the Internet if it is to a
trusted merchant and for a call or transaction initiated by you – and never
provide the merchant with the PIN to your Mastercard Debit Card.
Protect against ATM
and Internet fraud. Promptly compare your
monthly account statements or the account histories that you receive
against your ATM and other receipts. If
you make a purchase on the Internet, end the transaction
by logging out of the website instead of just closing the web browser.
Inspect an ATM before you use it. Look
for possible tampering, or for the presence of an unauthorized attachment that
could capture your PIN or other information from your card. Never enter your
PIN in any ATM that does not look genuine, has been modified, has a suspicious
device attached, or is operating in a suspicious manner. Don’t write your PIN where it can be discovered. For example,
don’t keep a note of your PIN in your wallet or
Protect the security of your PIN. Ensure
no one can observe you entering your PIN into the ATM. An example of preventing
others from seeing you enter your PIN is
by using your body or hand to shield their view.
If you lose your Mastercard Debit Card
or if it is stolen, promptly notify us. You should consult the other
disclosures you have received about electronic fund transfers for additional
information about what to do if your card is lost or stolen.
make a transaction, remain aware of your
surroundings and exercise caution when withdrawing funds. Look out for
suspicious activity near the ATM or night deposit facility, particularly if it
is after sunset. At night, be sure that the facility (including the parking
area and walkways) is well lighted. Consider
having someone accompany you when you
use the facility, especially after
sunset. If you observe suspicious persons or circumstances, while approaching
or using an unmanned teller machine, you should not use the unmanned teller
machine at that time, or if you are in the middle of a transaction, you should
cancel the transaction, take the access device, leave the area, and come back
at another time, or use an unmanned teller machine at another location.
Don’t accept assistance from anyone you
don’t know when using an ATM or night deposit
If you notice anything suspicious or if
any other problem arises after you have begun an ATM transaction, you may want
to cancel the transaction, put your card away and leave. You might consider
using another ATM or coming back later.
Don’t display your
cash; put it away as soon as the ATM transaction is completed and wait to count the cash until you are
in the safety of a locked enclosure such as your car, home, or in another
At a drive-up facility, make sure all
the car doors are locked and all of the windows are rolled up, except the
driver’s window. Keep the engine running and remain alert to your surroundings.
We want the ATM and night deposit
facility to be safe and convenient for you. Therefore,
please tell us if you know of
any problem with a facility. For instance, let us know if a
light is not working or there is any damage to a facility. Please report any
suspicious activity or crimes to both the operator of the facility and the
local law enforcement officials immediately.
YOUR ABILITY TO WITHDRAW FUNDS
This policy statement applies to all accounts.
Our policy is to make funds from your cash,
check, and electronic direct deposits available to you immediately. At that
time, you can withdraw the funds 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 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. Please remember, you are still responsible for
checks that are returned to us unpaid and for any other problems resulting from
the negotiated item.
LONGER DELAYS MAY APPLY
delays. In some cases, we will not make
all of the funds that you deposit by check available to you immediately.
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 the next business day.
If we are not going to make all of the funds
from your deposit available immediately, 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.
exceptions. In addition, funds you
deposit by check may be delayed for a longer period under the following
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
You have overdrawn your account repeatedly in the last
There is an emergency, such as
failure of computer or communications equipment.
We will notify you if we delay your ability
to withdraw funds for any of these reasons, and we will tell you when the funds
will be available. They will generally be available no later than the 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, wire transfers, 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
immediately if the deposit meets certain conditions. For example, the checks
must be payable to you and made in person to one of our employees (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.
Funds from all other check
deposits will be available on the ninth business day after the day of your
DEPOSITS AT AUTOMATED TELLER
MACHINES, NIGHT DROPS OR REMOTE LOCATIONS
Funds from any deposits (cash or
checks) made at automated teller machines (ATMs) or at our Night Drop Boxes we
own or operate, or remotely using the credit union’s mobile device application
may not be available until 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 immediately, we will mail you the notice by the day after we receive
You must complete payment of one share in your Share
Savings account as a condition of admission to membership.
limitation - We reserve the right to at
any time require not less than seven days and up to 60 days written notice of
intention to withdraw the whole or any part of the amounts paid in shares or
installments of shares as provided in the credit union bylaws or Regulation D
on any day when payment on shares may be made.
dividends - Dividends are paid from
current income and available earnings, after required transfers to reserves at
the end of a dividend period. (Additional disclosures further explain 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.
The categories of transactions for which an overdraft fee
may be imposed are those by any of the
following means: share draft, in-person withdrawal, ATM withdrawal, or other
Please refer to our separate
fee schedule for additional information about charges.