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Legal Information & Disclosures
(Click on title to read text.)
The following terms of use apply to your access to and use of the Statewide Federal Credit Union's Web site. These terms and conditions are important - please take a moment and read them carefully. By accessing any page of our Web site, you agree to be bound by these terms, whether or not you are our member. If you do not agree to the following terms and conditions, do not access this site or any page thereof.
General Information:
All of the information and contents of our Web site are subject to change without notice. Not all products and services are available in all geographic areas. Your eligibility for specific products and services is subject to determination and approval by us.
Disclaimer of Warranties and Liabilities
All information provided on this Web site is believed by us to be accurate and reliable as of the date posted on the site. However, due to the possibility of human and mechanical error, as well as other factors, we are not responsible for errors in or omissions from the information contained in this Web site. All of the information, materials, and functions contained in our Web site are provided on an "AS IS" basis without warranties of any kind, either express or implied, including, but not limited to, warranties or merchantability, fitness for a particular purpose, or freedom from computer virus. We do not warrant the adequacy, accuracy, timeliness, or completeness of the information and materials included in our Web site or in other sites linked to or from our Web site, or that the functions provided will be uninterrupted or error-free, and expressly disclaims any liability for any errors in or omissions from information, materials and functions included in our Web site or any other sites linked to or from our Web site.
In no event will we be liable for any direct or indirect, special, incidental, consequential or punitive damages or lost profits arising in connection with your use of this Web site, or any interruption in the availability of our Web site, delay in operation or transmission, computer virus, loss of data, or otherwise, even if we have been advised of the possibility of such damages or losses.
User Indemnification
You agree to indemnify, defend and hold us harmless from any liability, loss, claim and expense, including attorneys' fees, related to your violation of these terms and conditions or the use of the services and information provided at this Web site.
Privacy and Use of Information
We understand that you are concerned about privacy. For information about how we treat information provided to us on our Web site, please refer to the Privacy Policy.
Links to Other Web Sites
Our Web site may contain links to other Web sites. Such links are not endorsements of any products or services in those sites, and no information in such sites has been endorsed or approved by us. We are not responsible for the content, accuracy, or opinions expressed in other Web sites, and such Web sites are not investigated, monitored, or checked for accuracy or completeness by us. Links to non-Statewide Federal Credit Union Web sites are provided solely for the purpose of providing easy navigation to information that may be useful to users of our Web site.
Copyright
The content, organization, gathering, graphics, design, software, compilation, magnetic translation, digital conversions, and other matters related to this Web site are protected under applicable copyright, trademark, and other proprietary rights, including but not limited to, intellectual property rights. Furthermore, the copying, redistribution, alteration, use, or publication by you of any content or part of this Web site is prohibited without our prior written consent. You do not acquire ownership rights to any content or document obtained by or through this Web site.
Location of Operations, Governing Law, and Consent to Jurisdiction
This Web site (excluding linked sites) is controlled by Statewide Federal Credit Union from its offices in the State of Mississippi, United States of America. While you may choose to access our Web site from other locations, we make no representation that any information, materials, or functions included in our Web site are appropriate or authorized for use in other jurisdictions. Your access from other locations is made on your own initiative; you, and not us, are responsible for compliance with any applicable local laws and regulations.
Your access to and use of our Web site and these terms are governed by and will be construed in accordance with the laws of the State of Mississippi without regard to principles of conflicts of laws, to the extent not pre-empted by federal law. In the event that any provision of these terms is held unenforceable, it will not affect the validity or enforceability of the remaining provisions.
In the event of a dispute concerning or relating in any way to this Web site, you and Statewide Federal Credit Union hereby submit to the exclusive personal jurisdiction and venue of the State and Federal Courts located in the State of Mississippi with respect to such matters.
This disclosure contains the rules which govern your account(s) with us. Please read this disclosure carefully. If you sign your signature card or continue to have an account with us, you agree to these rules, our by-laws, and any by-law amendments. You agree to pay the fees we charge and you give us the right to collect any fees, as earned, directly from the account balance. You will receive a separate schedule of rates, qualifying balances, and fees, if they are not included in this disclosure. If you have any questions, please call us.
This agreement is subject to applicable federal laws and the laws of the state of Mississippi (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 disclosure is to:
• summarize the existing rules applicable to the more common transactions,
• establish rules to govern transactions or events which the law does not regulate,
• establish rules for certain events or transactions which the law already regulates but permits variation by agreement; and
• give you our funds availability and electronic funds transfer disclosures.
We may permit some variations from this standard agreement, but any variations must be agreed to in writing either on our signature card for the account or in some other written form.
As used in this agreement, the words "We", "our", and "us" mean the credit union and the words "you", and "your" mean the owners of this account and any "agent" appointed by or on behalf of the owner(s) to sign on the account in a representative capacity.
LIABILITY - Each of you agrees 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 we impose. You authorize us to deduct these charges as accrued directly from the account balance. You also agree to pay additional reasonable charges we may impose for services you request which are not covered by this agreement. Each of you also agrees to be jointly and individually liable for any account deficit resulting from charges or overdrafts, whether caused by you or another authorized to withdraw from this account, and our costs to collect the deficit including, to the extent permitted by law, our reasonable attorney's fees. You agree that at our option, we may suspend your membership rights if you violate the terms of this agreement.
DEPOSITS - Any items, other than cash, accepted for deposit (including items drawn "on us" will be given provisional credit only until collection is final (and 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 initiated by mail or outside depository until we actually record them. All transactions received after our "daily cut-off time" on a business day we are open, or received on a day in which we are not open for business, will be treated and recorded as if initiated on the next following business day that we are open. If this account earns dividends, we are prohibited by law from guaranteeing the payment of dividends or that dividends we do pay will be at the contracted rate. We must base our dividend payments to you upon the money we actually earn and that is available for distribution at the end of a dividend period, after required transfers to reserves. Unless otherwise agreed, you waive any right to receive any original item after it is paid. Member accounts in Statewide FCU are federally insured by the National Credit Union Share Insurance Fund (NCUSIF).
WITHDRAWALS - Unless otherwise clearly indicated to the contrary, any one of you who signs in the space designated for signatures on the signature card, including any agents, may withdraw or transfer all or any part of the account balance at any time on forms or by methods approved by us. Each of you (until we receive written notice to the contrary) authorizes each other person signing on the signature card to endorse any item payable to you or your order for deposit to this account or any other transactions with us. We may charge against your account a check, even though payment was made before the date of the check, unless you have given us written notice of the postdating. The fact that we may honor withdrawal requests which overdraw the finally collected account balance does not obligate us to do so, unless required by law. Withdrawals will first be made from collected funds, and we may, unless prohibited by law or our written policy, refuse any withdrawal request against uncollected funds, even if our general practice is to the contrary. We reserve the right to refuse any withdrawal or transfer which is attempted by any method not specifically permitted, which is for an amount less than any minimum withdrawal requirement, or which exceeds any frequency limitation. Even if we honor a nonconforming request, repeated abuse of the stated limitations (if any) may eventually force us to close this account. We will use the date a transaction is completed by us (as opposed to the day you initiate it) to apply the frequency limitations. We reserve the right to require you to notify us of your intention to withdraw shares or deposits from this account as explained in our by-laws. Withdrawals from a time deposit prior to maturity or prior to the expiration of any notice period may be restricted and may be subject to penalty. See your notice of penalties for early withdrawal. We reserve the right to, at any time, require not less than 60 days' notice in writing before each withdrawal from an interest-bearing account other than a time deposit, of from any other savings account as defined by Regulation D.
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. Individual Account - is owned by one person. Joint Account with Survivorship (and not as Tenants in Common) - is owned by two or more persons. Each of you intend that, upon your death, the balance in the account 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 Accounts - 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.
PLEDGES - Unless you tell us differently in writing, each owner of this account may pledge all or any part of the funds in it for any purpose to which we agree. Any pledge of this account must first be satisfied before the rights of any joint account survivor or trust account beneficiary becomes effective. For example, if one joint tenant pledges the deposit evidenced by this agreement for a debt (i.e.: uses it to secure a debt) and then dies, (1) the surviving joint tenant's rights in this account do not take effect until the debt has been satisfied, and (2) the debt may be satisfied with the funds in this account.
STOP-PAYMENTS - A stop-payment order must be given in the manner required by law and must be received in time to give us a reasonable opportunity to act on it before our stop-payment cut-off time. Our stop-payment cut-off 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. A stop-payment order must precisely identify the number, date, and amount of the item, and the payee. We will honor a stop-payment request by the person who signed the particular item, and, by any other person, even though such other person did not sign the item, if such other person has an equal or greater right to withdraw from this account than the person who signed the item in question. A release of the stop-payment request may be made only by the person who initiated the stop-payment.
TELEPHONE TRANSFERS - A telephone transfer of funds from this account to another account with us, if otherwise permitted or arranged for, may be made by the same persons and under the same conditions generally applicable to withdrawals made in writing. We restrict the number of transfers from a savings account to another account, or third parties, to a maximum of six per month (less the number of certain "preauthorized transfers" during the month). Other account transfer restrictions are described elsewhere in this brochure.
AMENDMENTS AND TERMINATION - We may change our by-laws and any terms of this agreement. Rules governing changes in interest or dividend rates have been provided separately. For other changes we will give you reasonable notice in writing or by any other method permitted by law. We reserve the right to close this account if your membership in this credit union terminates. You agree to keep us informed about your current address at all times. Notice from us to any one of you is notice to all of you.
STATEMENTS - You must examine your statement of account with "reasonable promptness". If you discover (or reasonably should have discovered) any unauthorized payments or alterations, you must promptly notify us of the relevant facts. 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 exercised 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 forged or altered 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 that such time will not, in any circumstance, exceed a total of 30 days from when the statement is first made available to you.
You further agree that if you fail to report any unauthorized signatures, alterations, forgeries, or any other errors in your account within 60 days of when we make the statement available, you cannot assert a claim against us on any items in that statement, and the loss will be entirely yours. This 60 day limitation is without regard to whether we exercised ordinary care. The limitation in this paragraph is in addition to that contained in the first paragraph of this section.
ACCOUNT TRANSFER - This account may not be transferred or assigned without our prior written consent.
DIRECT DEPOSITS - If, in connection with a direct deposit plan, we deposit any money in this account which should been returned to the Federal Government for any reason, you authorize us to deduct the amount of our liability to the Federal Government from this 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.
RESTRICTIVE LEGENDS - We are not required to honor any restrictive legend on items you write unless we have agreed to the restriction in a writing signed by an officer of the credit union. Examples of a restrictive legend are "must be presented within 90 days" or "not valid for more than $1,000.00".
FACSIMILE SIGNATURES - You authorize us, at any time, to charge you for all checks, drafts, or other orders, for the payment of money, that are drawn on us regardless of by whom or by what means the facsimile signature(s) may have been affixed so long as they resemble the facsimile signature specimen on the signature card or that are filed separately with us, and contain the required number of signatures for that purpose.
RIGHT OF REPAYMENT OF INDEBTEDNESS - You each agree that we may (without prior notice and when permitted by law) charge against and deduct from this account any due and payable debt owed to us now or in the future, by any of you having the right of withdrawal, to the extent of such persons' or legal entity's right to withdraw. If the debt arises from a note, "any due and payable debt" includes the total amount of which we are entitled to demand payment under the terms of the note at the time we charge the account, including any balance the due date of which we properly accelerate under the note.
Our right to repayment does not apply to this account if: (a) it is an Individual Retirement Account or other tax-deferred retirement account, or (b) the debt is created by a consumer credit transaction under a credit card plan; or (c) the debtor's right of withdrawal arises only in a representative capacity. We will not be liable for the dishonor of any check or draft when the dishonor occurs because we charge and deduct an amount you owe us from your account. You agree to hold us harmless from any claim arising as a result of our exercise of our right to repayment.
AGENTS - An agent is someone who you authorize to have access to this account on your behalf. (We, however, have no duty or agreement whatsoever to monitor or insure that the acts of the agent are for your benefit.) This may be done by allowing your agent to sign on the space as an authorized signer on the signature card, or by separate form (such as a power of attorney). An agent is not an owner of the account. We will allow agents to be appointed only on individual accounts unless each owner of a joint account has executed a separate power of attorney naming an agent. We may refuse to accept an agent, or an agency account.
The Electronic Funds Transfers we are capable of handling are listed below, some of which may not apply to your account. Please read this disclosure carefully because it tells you your rights and obligations for these transactions. You should keep this notice for future reference.
Direct Deposits - You may make arrangements for certain deposits (such as U.S. Treasury [Social Security], some employers [payroll], and income tax [returns]) to be accepted into your Share Savings or Checking account(s).
Preauthorized Withdrawals - You may make arrangements to pay certain recurring bills from your Checking or Share Savings account(s).
"TellerPhone" Transfers - You may access your account(s) by telephone 24 hours a day, seven days a week through our audio-response account information system, "TellerPhone " at 1-800-553-8890. You assign your own Personal Identification Number (PIN) to access account information and to perform the following types of transactions:
• transfer funds from checking to checking
• transfer funds from checking to shares
• transfer funds from shares to checking
• transfer funds from shares to shares
• request a check withdrawal from savings or checking
• transfer funds from savings or checking to a loan(s)
ATM Transactions - You may access your account(s) by Automated Teller Machine (ATM), using your Visa Debit/ATM card and Personal Identification Number (PIN). The following ATM networks are available to you:
• CU Here
• Credit Union 24 (CU24)
• CIRRUS (there is a $1.00 charge for all CIRRUS transactions)
* PULSE (there is a $1.00 charge for all PULSE ATM transactions)
You may make the following types of transactions:
• withdraw cash from checking or share savings
• transfer funds between checking, savings and loan accounts
• deposit cash or checks at CU Here or CU24 ATM's (may not be available at some ATMs)
• check account balances
e*Br@nch Transactions - You may access your accounts through e*Br@nch, our home branching system. By connecting to our website ( www.statewidefcu.org) with your personal computer, you may perform the same transactions listed for "TellerPhone " above, as well as:
• View a transaction history of each account.
• Download the transaction history into your personal financial software on your PC.
• Purchase a share certificate
CHARGES FOR ELECTRONIC FUNDS TRANSFERS
• We do not charge for direct deposits to any type of account.
• We do not charge for preauthorized withdrawals from any type of account.
• Except as indicated elsewhere, we do not charge for electronic funds transfers.
RIGHT TO DOCUMENTATION
• Terminal Transfers. You can get a receipt at the time you make any transfer to or from your account using an ATM, a point-of-sale terminal, or through e*Br@nch.
• Direct Deposits - If you have arranged to have direct deposits made to your account, you can call "TellerPhone " or access e*Br@nchto determine if your deposit has been made.
• Periodic Statements - You will receive a monthly statement on your checking account. You will receive a monthly statement on your savings account if there were any electronic funds transactions during that month. In any case, you will receive a statement at least once a year.
STOP PAYMENT PROCEDURES AND NOTICE OF VARYING AMOUNTS
• 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's how:
Call us or write us at the telephone number or address listed in this brochure in time for us to receive the request three 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 $25.00 for each stop payment you give.
• 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 three business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.
OUR 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:
• If, through no fault of ours, you do not have enough money in your account to make the transfer.
• If the transfer would go over the credit limit of your overdraft line of credit.
• If the ATM 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 transaction.
• If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions we have taken.
• There may be other exceptions stated in our agreement with you.
DISCLOSURE OF ACCOUNT INFORMATION TO THIRD PARTIES
We will disclose information to third parties about your account or the transfers you make:
• where it is necessary for completing transfers.
• in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant.
• in order to comply with government agency or court orders; or
• if you give us written permission.
UNAUTHORIZED TRANSFERS
Tell us AT ONCE if you believe your card and/or code has been lost or stolen. Telephoning us is the best way of keeping your possible losses down. You could lose all of the money in your account (plus your maximum overdraft line of credit limit). If you tell us within two business days, you can lose no more than $50 if someone used your card without your permission.
If you do not tell us within two 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 can lose as much as $500.
Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time.
If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time period.
If you believe your card and/or code has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call or write us at the telephone number or address listed in this brochure.
ERROR RESOLUTION
In case of errors or questions about your electronic transfers, call or write us at the telephone number or address listed in this brochure, 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 send the FIRST statement on which the problem or error appeared.
• Tell us your name and account number.
• 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 days.
We will tell you the results of our investigation within 10 business days (20 business days if the transfer involved a point-of-sale transaction or a foreign initiated transfer) 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 point-of-sale transaction or a foreign initiated transaction) to investigate your complaint or question. If we decide to do this, we will recredit your account within 10 business days (20 business days if the transfer involved a point-of-sale transaction or a foreign initiated transaction) 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 questions in writing and we do not receive it within 10 days, we may not recredit your account.
If we decide that there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation.
STATEWIDE FEDERAL CREDIT UNION
PO BOX 320483
FLOWOOD, MS 39232-0483
Business days: Monday through Friday
Excluding Federal Holidays
Phone: (601) 420-5535 or (800) 682-6426
This policy statement applies to all deposit accounts.
Our policy is to make funds from your 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 3:00 P.M. 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 3:00 P.M., 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 financial institution, 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 financial institution, we may make funds form 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 - 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 fifth business day after the day of your deposit. However, the first $100 of your deposits will be available immediately.
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.
In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:
• We believe a check you deposited 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 a communications failure or computer equipment failure.
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 eleventh business day after the day or your deposit.
SUBSTITUTE CHECKS AND YOUR RIGHTS
What is a substitute check? To make check processing faster, federal law permits financial institutions to replace original checks with "substitute checks." These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check.
Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions.
WHAT ARE MY RIGHTS CONCERNING SUBSTITUTE CHECKS?
In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees).
The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law.
If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim.
We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account.
How do I make a claim for a refund?
If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us at 601-420-5535, StatewideFCU@eplinc.com, or PO Box 320483, Flowood, MS 39232-0483. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances.
Your claim must include—
• A description of why you have suffered a loss (for example, you think the amount withdrawn was incorrect);
• An estimate of the amount of your loss;
• An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss; and
• A copy of the substitute check or the following information to help us identify the substitute check: the check number, the amount of the check, and to whom the check was written.
You authorize Statewide Federal Credit Union to establish a checking account for you. The credit union is authorized to pay checks signed by you (or by any of you, if this agreement is signed by more than one person), and to charge the payments against the checking account balance. It is further agreed that:
• Only checks, Debit cards, ATM cards, TellerPhone, e*Br@nch, e*P@y, Credit Union Service Centers, and other methods approved by the credit union may be used to withdraw funds from your checking account. The credit union will also allow electronic check transactions to post to your account.
• The credit union is under no obligation to pay a check which exceeds the balance in your checking account; the credit union may, however, pay such a check and charge the amount of the resulting overdraft plus a service charge against any other share account from which the person who signed the check is entitled to withdraw shares, or advance funds on an overdraft protection Line of Credit loan up to the predetermined maximum. The credit union is under no obligation to pay a check on which the date is more than six (6) months old.
• Except for negligence, the credit union is not liable for any action it takes regarding the payment or nonpayment of a check.
• Any objection regarding any item shown on a statement of your checking account shall be waived unless made in writing to the credit union on or before the twentieth day following the day the statement is mailed.
• Non-cash deposits received in your checking account will be credited subject to final collection under the conditions stated in the Funds Availability Policy elsewhere in this brochure.
• Your checking account shall be subject to service charges in accordance with the rate schedules adopted by the credit union from time to time.
• The use of your checking account is subject to such other terms, conditions and requirements as the credit union may establish from time to time.
• If signed by more than one person, this agreement is subject to the additional terms and conditions of any joint share account agreement that applies to a share account in your joint names; or, if there is no such agreement, this agreement is subject to the additional terms and conditions printed on the joint share account agreement.
• Canceled checks will not be returned to you. Canceled checks can be viewed and printed from the e*Br@nch home banking system.
It is the policy of Statewide Federal Credit Union (Statewide FCU) to comply with all applicable laws and regulations and to conduct business in accordance with applicable safety and soundness standards.
The Deposit Account Agreement and Disclosure provided to you at the time you opened your account with us controls the duties, obligations and rights of the Depositor, the Authorized Signatories and Statewide FCU with regard to your checking account. The Deposit Account Agreement (and all amendments thereto) and its terms shall control any possible conflict, if any, between any provision of this Discretionary Overdraft Privilege Policy and the Deposit Account Agreement and Disclosure. A copy of the Deposit Account Agreement and Disclosure is available to you on request from Statewide FCU.
Overdraft privilege is not a line of credit. However, if you overdraw your account, we will have the discretion to pay the overdraft, subject to the limit of your overdraft privilege and the amount of the overdraft fee. Statewide FCU is not obligated to pay any item presented for payment if your account does not contain sufficient available funds. Any discretionary payment (or other negotiation or processing) by Statewide FCU of any non-sufficient funds check or other item does not obligate or create an agreement or course of dealing for Statewide FCU to pay any additional non-sufficient funds check or item or to provide prior notice of its decision to refuse to pay any additional non-sufficient funds check or item.
Pursuant to Statewide FCU’s commitment to always provide you with the best level of service, now and in the future, if your account has been open for at least sixty (60) days, and thereafter you maintain your account in good standing, which includes at least:
A) Bringing your account balance to a positive balance within every thirty (30) day period;
B) You are not in default on any loan or other obligation to Statewide FCU, and:
C) You are not subject to any legal or administrative order or levy.
Statewide FCU will have the discretion to pay overdrafts within the overdraft privilege limits, but payment by Statewide FCU is a discretionary courtesy and not a right of the account holder or an obligation of Statewide FCU. This privilege for checking accounts will generally be limited to a maximum of $500 overdraft (negative) balance. Of course, any and all fees and charges, including, without limitation, the non-sufficient funds fees (as set forth in our fee schedules and deposit account agreement and disclosure), will be included as part of this maximum amount.
The total of the discretionary overdraft privilege (negative) balance, including any and all fees and charges, including all non-sufficient funds/overdraft fees is due and payable upon demand, and Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all such amounts, as described in the Deposit Account Agreement and Disclosure.
Again, while Statewide FCU will have the discretion to pay overdrafts on accounts in good standing (as described above), any such payment is a discretionary courtesy, and not a right of the account holder or an obligation of Statewide, and Statewide FCU, in its sole and absolute discretion, can cease paying overdrafts at any time without prior notice of reason or cause.
Last Declared Dividend Rate: As of the last dividend declaration date,
the dividend rate was ____ rates ____% with an annual percentage yield (APY) of _________________% on your account.
Nature of Dividends: Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.
Rate Information: The dividend rate and annual percentage yield may change at any time, as determined by the Statewide Federal Credit Union board of directors.
Compounding and Crediting: Dividends will be compounded every month. Dividends will be credited to your account every month.
Dividend Period: For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period, and, for the above example would be February 1.
Minimum Balance Requirements: The minimum balance required to open this account is $25.00.
You must maintain a minimum daily balance of $25.00 in your account each day to obtain the disclosed annual percentage yield.
Daily Balance Computation Method: Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of Dividends on Noncash Deposits - Dividends will begin to accrue on the business day you deposit noncash (for example, checks) in your account.
Transaction Limitations - During any month, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized or automatic transfer, telephonic order or instruction, 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.
We reserve the right to, at any time, require not less than 60 days notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D.
Par Value of a Share: The par value of a share in this account is $25.00.
National Credit Union Share Insurance Fund: Member accounts in the Statewide Federal Credit Union are federally insured by the National Credit Union Share Insurance Fund.
TRUTH-IN-SAVINGS DISCLOSURE
Last Declared Dividend Rate: As of the last dividend declaration date,
the dividend rate was ____ rates _____% with an annual percentage yield (APY) of _________________% on your account.
Nature of Dividends: Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.
Rate Information: The dividend rate and annual percentage yield may change at any time, as determined by the Statewide Federal Credit Union board of directors.
Compounding and Crediting: Dividends will be compounded every month. Dividends will be credited to your account every month.
Dividend Period: For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period, and, for the above example would be February 1.
Minimum Balance Requirements: No minimum balance requirements apply to this account.
Daily Balance Computation Method: Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of Dividends on Noncash Deposits - Dividends will begin to accrue on the business day you deposit noncash (for example, checks) in your account.
Transaction Limitations - During any month, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized or automatic transfer, telephonic order or instruction, 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.
We reserve the right to, at any time, require not less than 60 days notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D.
Par Value of a Share: The par value of a share in this account is $25.00.
National Credit Union Share Insurance Fund: Member accounts in the Statewide Federal Credit Union are federally insured by the National Credit Union Share Insurance Fund.
TRUTH-IN-SAVINGS DISCLOSURE
Last Declared Dividend Rate: As of the last dividend declaration date,
the dividend rate was ____ rates _____% with an annual percentage yield (APY) of _________________% on your account.
Nature of Dividends: Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.
Rate Information: The dividend rate and annual percentage yield may change at any time, as determined by the Statewide Federal Credit Union board of directors.
Compounding and Crediting: Dividends will be compounded every month. Dividends will be credited to your account every month.
Dividend Period: For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period, and, for the above example would be February 1.
Minimum Balance Requirements: No minimum balance requirements apply to this account.
Daily Balance Computation Method: Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of Dividends on Noncash Deposits - Dividends will begin to accrue on the business day you deposit noncash (for example, checks) in your account.
Transaction Limitations - During any month, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized or automatic transfer, telephonic order or instruction, 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.
We reserve the right to, at any time, require not less than 60 days notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D.
Par Value of a Share: The par value of a share in this account is $25.00.
National Credit Union Share Insurance Fund: Member accounts in the Statewide Federal Credit Union are federally insured by the National Credit Union Share Insurance Fund.
TRUTH-IN-SAVINGS DISCLOSURE
Last Declared Dividend Rate: As of the last dividend declaration date,
the dividend rate was _____ rates ____% with an annual percentage yield (APY) of _________________% on your account.
Nature of Dividends: Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.
Rate Information: The dividend rate and annual percentage yield may change at any time, as determined by the Statewide Federal Credit Union board of directors.
Compounding and Crediting: Dividends will be compounded every month. Dividends will be credited to your account every month.
Dividend Period: For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the year is January 1, and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period, and, for the above example would be February 1.
Minimum Balance Requirements: No minimum balance requirements apply to this account.
Daily Balance Computation Method: Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of Dividends on Noncash Deposits - Dividends will begin to accrue on the business day you deposit noncash (for example, checks) in your account.
Transaction Limitations - During any month, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized or automatic transfer, telephonic order or instruction, 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.
We reserve the right to, at any time, require not less than 60 days notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D.
Par Value of a Share: The par value of a share in this account is $25.00.
National Credit Union Share Insurance Fund: Member accounts in the Statewide Federal Credit Union are federally insured by the National Credit Union Share Insurance Fund.
TRUTH-IN-SAVINGS DISCLOSURE
Rate Information: The dividend rate on your _____- month share
certificate is ____ rates ___% with an annual percentage yield (APY) of _____________%. You will be paid this rate until first maturity.
Compounding Frequency: Unless otherwise paid, dividends will be
compounded every month.
Crediting Frequency: Dividends will be credited to your account every month. Alternatively, you may choose to have dividends paid to you or another account each month, rather than credited to this account.
Dividend Period: For this account type, the dividend period is monthly.
Minimum Balance Requirements: The minimum balance required to open this account is $1,000.00.
You must maintain a minimum daily balance of $1,000.00 in your account each day to obtain the disclosed annual percentage yield.
Daily Balance Computation Method: Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of Dividends on Noncash Items: Dividends will begin to accrue on the business day you deposit noncash (for example, checks) to your account.
National Credit Union Share Insurance Fund: Member accounts in the Statewide Federal Credit Union are federally insured by the National Credit Union Share Insurance Fund.
Transaction Limitations: After the account is opened, you may not made additions into the account until the maturity date stated on the account.
You may not make withdrawals of principal from your account before maturity.
You can only withdraw dividends credited in the term before maturity of that term without penalty. You can withdraw dividends anytime during the term of crediting after they are credited to your account. This dividend withdrawal limitation does not apply if you have made arrangements to have dividends paid to you or to another account in lieu of having them credited to this account.
Time Requirements:
Your share certificate will mature as indicated on the certificate.
Early Withdrawal Penalties (a penalty may be imposed for withdrawals before maturity):
If your account has an original maturity of 12 months or less, the penalty we may impose will equal 30 days' dividends on the amount withdrawn subject to penalty.
If your account has an original maturity of more than 12 months, the penalty we may impose will equal 90 days' dividends on the amount withdrawn subject to penalty.
There are certain circumstances, such as the death or incompetence of an owner, where we may waive or reduce this penalty. See your plan disclosure if this account is part of an IRA or other tax qualified plan.
Withdrawal of Dividends Prior to Maturity: The annual percentage yield is based on an assumption that dividends will remain in the account until maturity. A withdrawal will reduce earnings.
Automatically Renewable Account: This account will automatically renew at maturity. You may prevent renewal if we receive written notice from you before maturity of your intention not to renew or you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any). We can prevent renewal if we mail notice to you at least 30 calendar days before maturity.
____ If either you or we prevent renewal, dividends will not accrue after final maturity.
_____ If either you or we prevent renewal, your deposit will be placed in a dividend-bearing account.
Each renewal term will be the same as the original term, beginning on the maturity date. The dividend rate will be the same we offer on new term share accounts on the maturity date which have the same term, minimum balance (if any), and any other features as the original term account.
There is no grace period following the maturity of this account during which you may withdraw the funds without being charged an early withdrawal penalty.
TRUTH-IN-SAVINGS DISCLOSURE
Minimum Balance Requirements: No minimum balance requirements apply to this account.
Transaction Limitations - We reserve the right to, at any time, require not less than 60 days notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D.
Par Value of a Share: The par value of a share in this account is $25.00.
National Credit Union Share Insurance Fund: Member accounts in the Statewide Federal Credit Union are federally insured by the National Credit Union Share Insurance Fund.
Terms and Conditions
The following are your Statewide Visa Gift Card Terms and Conditions. In these Terms and Conditions "you" or "your" means the person who has received the Statewide Visa Gift Card; "we", "us" or "our" means Statewide Federal Credit Union; "Card" means the Statewide Visa Gift Card. Please read the following carefully and keep them for your records. Upon receipt, the Gift Card should be signed immediately. By accepting and using your Card, you are agreeing to these Terms and Conditions.
Gift Card Usage
Your Statewide Visa Gift Card is issued by Statewide Federal Credit Union and may be used for purchases at most merchants where Visa Debit is accepted. The card may not be used at some merchants including airlines, recurring payments, and non-financial money exchange establishments, hotels, gambling establishments, rental car agencies or "pay at the pump" gasoline. (You may purchase gas by presenting the card to the attendant). Some merchants, like restaurants, may attempt to submit authorizations against the card for an amount greater than the actual purchase amount. If a merchant attempts an authorization greater than the balance remaining on your gift card, it may be declined.
Before using your Statewide Visa Gift Card, you must activate it by calling the number on the sticker on your card from your home phone number or by registering the card on the Gift Card Website, which can be accessed at www.statewidefcu.org. You must sign the back before you can use the Card.
This Gift Card is not a credit card. You may only use it when there is a balance remaining on the card and only up to the amount left on the card. Purchases will be deducted from your Statewide Visa Gift Card until the value reaches zero. If you are given value through the use of the Card greater than the balance remaining, you will pay us on demand the amount by which your transactions exceeded the balance remaining on the Card.
The Statewide Gift Card is non-reloadable and cannot be reused. There will be a $1.50 inactivity fee charged each month after the card has been inactive for 6 months..
If you use your gift card for a transaction in a foreign currency the transaction will be converted to U.S. dollars in accordance with applicable Visa operating regulations for international transactions. The conversion rate in dollars will be a rate selected by Visa from a range of rates available in wholesale currency markets for the applicable Central Processing Date, which rate may vary from the rate Visa itself receives, or the government mandated rate in effect for the applicable Central Processing Date in each instance, plus or minus any adjustment determined by the issuer.
You hereby apply for and agree to the rules and conditions governing the use of a Statewide Federal Credit Union Visa Debit or ATM Card ("card"). This agreement and all transactions in connection with your account shall be subject to the rules and regulations governing ATM operations, and all other bank machines, debit cards, electronic funds transfer, and all other types of transactions, and as to such transaction, each shall be subject to all applicable laws, clearing house rules, operating letters, rules and regulations now or hereafter enacted or promulgated by governing regulatory authority, including but not limited to the Federal Reserve Bank and the National Credit Union Administration.
With the Visa Debit Card, you may access your Checking account(s) to purchase goods (in person or by phone), pay for services (in person or by phone), get cash from a merchant, if the merchant permits, or from a participating financial institution, and do anything you might do with a credit card (that a participating merchant will accept with a credit card). Purchases and cash advances made in foreign countries and foreign currencies will be billed to you in U.S. dollars. The exchange rate for international transactions will be a rate selected by Visa from the range of rates available in wholesale currency markets, which may vary from the rate Visa itself receives, or the government-mandated rate in effect for the applicable central processing date. You may access your Checking or Share Savings account(s) through an Automated Teller Machine (ATM) to perform the transactions described elsewhere in this brochure. ATM withdrawals are limited to a total of $500 per day (Friday, Saturday, and Sunday equal one day for ATM withdrawals). (With the ATM Card, only ATM transactions may be performed.)
We reserve the right to process transactions made with the card at any time of the day, even though this may affect the balances available for processing other transactions including, but not limited to, check clearings.
Transactions made with the card shall not be deemed completed for any purpose, including computation of interest earned, or for determining balances in your accounts, until verified and posted at the Credit Union, provided, however, You waive all rights to cancel any transaction once made through an ATM. Any deposit or payments made through an ATM are accepted conditionally, subject to final collection.
It is possible that the ATM or your card may not function properly at all times. We make no claim or warranties in this respect and shall not be responsible or liable for damages, including consequential damages, if an ATM at any time fails to dispense cash or the ATM or the card otherwise fails to function properly or for any act or omission in connection with the card or the ATM.
Any withdrawal which does exceed the available balances must be repaid immediately. In the event it is necessary to refer collection of any amount to an attorney, you will be liable for the our reasonable attorney fees. You will also be responsible for all costs of collections and penalty charges. We may, without prior notice, exercise our right of setoff as to any amount so owing.
You will receive a secret Personal Identification Number (PIN) known only to you which, when used in connection with the card, will permit transactions. The responsibility to safeguard the secrecy of this PIN rests exclusively with you. Use of such PIN by any person other than you will constitute prima facie evidence that you authorized such use. We shall have no liability for such use of the PIN by any person other than you. You hereby agree jointly and severally, if more than one person, as follows:
The card is, and remains the property of, Statewide Federal Credit Union, is not transferable by you and will be returned to us upon our request or when you close your account.
To take all necessary precautions to minimize the risk of loss, theft, or unauthorized use of the card and to keep the card separate from the secret PIN number.
To notify us immediately upon any changes in address. If an account statement is returned to us because of an incorrect address, We may stop sending statements until notified of the correct address.
To notify us immediately in the event the card is lost, stolen, or misused by calling the Credit Union at (601)420-5535 between the hours of 8:00 am and 5:00 pm on any business day or by writing to the following address:
STATEWIDE FEDERAL CREDIT UNION
PO BOX 320483
FLOWOOD, MS 39232-0483
Transactions at CIRRUS and PULSE Network ATMs will be assessed a fee of $1.00 per transaction. We reserve the right, from time to time, to establish other and different terms and conditions pertaining to the use of the card. All such terms and conditions shall be binding and enforceable upon you effective twenty-one days from the date of mailing a notice of such change to your last address registered with us. Use of the card after notification of change has been delivered shall constitute acceptance of such change by the cardholder. In the case of joint accounts or joint cardholders, notice to one account holder or cardholder will be effective for all account holders or cardholders. This agreement can be terminated by us without prior notice to you. In such case, we shall not be liable for such termination, nor shall such termination affect any obligation you have with respect to this agreement. |
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