Disclosures - Electronic Funds * Unlawful Internet Gambling * Link Disclosure * Privacy Notice Disclosure * Account Disclosure *HMDA 2014
Electronic Fund Transfer – Regulation “E” Disclosure
ATM / Debit Card & Online Banking-Bill Payer
Unlawful Internet Gambling
Unlawful Internet Gambling Enforcement Act (UIGEA), Regulation GG
The Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) prohibits any person engaged in the business of betting or wagering (as defined by the Act) from knowingly accepting payments in connection with the participation of another person in unlawful gambling. The Department of Treasury and the Federal Reserve Board have issued a joint final rule, Regulation GG, to implement this Act.
As defined in Regulation GG, Unlawful Internet Gambling means to “place, receive, or otherwise knowingly transmit a bet or wager by any means which involves the use, at least in part, of the internet where such bet or wager is unlawful under any applicable Federal or State law in the State or tribal lands in which the bet or wager is initiated, received or otherwise made”.
As a member of the None Suffer Lack Federal Credit Union (NSLFCU), these restricted transactions are prohibited from being processed through your account or banking relationship with us. All restricted transactions will be blocked and the account relationship could be terminated.
We provide links on our website to other Internet sites and resources. Accessing these links means you are leaving our website and going to the website of a third party not related to the None Suffer Lack Federal Credit Union. We do not control third party sites and resources and are not responsible for their availability, content or delivery of service. Other sites and resources may have different security and privacy policies than ours.
PRIVACY NOTICE DISCLOSURE
At the None Suffer Lack Federal Credit Union, preserving the confidentiality of our members’ information is one of our most important responsibilities. Protecting each member’s right to privacy is fundamental to the quality of customer relationships. Your concerns about privacy are considered in all aspects of our business and in all of the products and services we offer. First and foremost, we want you know:
WE DO NOT SELL YOUR PERSONAL FINANCIAL INFORMATION TO ANYONE.
INFORMATION WE COLLECT ABOUT YOU
We collect nonpublic personal information about you from the following sources:
• Information we receive from you on applications and other forms
• Information about your transactions with us
• Information we receive from a consumer reporting agency
• Information obtained when verifying the information you provide on an application or other forms; this may be obtained from your current or past employers, or form other institutions where you conduct financial transactions.
We may disclosure all the information we collect, as described above, as permitted by law.
PARTIES WHO RECEIVE INFORMATION FROM US
We may disclose nonpublic personal information about you to the following types of third parties:
• Financial service providers, such as mortgage service companies, and other banks or credit unions.
• Non Financial companies, such as consumer reporting agencies, data processor, and check printers.
DISCLOSURE OF INFORMATION TO PARTIES THAT PROVIDE SERVICES TO US
In order for us to conduct the business of the credit union, we may disclose all the information we collect, as described above, to other financial or non financial institutions with whom we have joint agreements with. We may also disclose nonpublic information about you under circumstances as permitted or required by law. To protect members’ privacy, we work with companies that agree to maintain strong confidentiality protections and limit the use of information we provide. We do not permit these companies to sell the information we provide to other third parties.
DISCLOSURE OF INFORMATION ABOUT FORMER MEMBERS
If you terminate your membership with the Credit Union, we will not share information we have collected about you, except as may be permitted or required by law.
CONFIDENTIALITY, SECURITY and INTEGRITY of YOUR PERSONAL INFORMATION
We protect the privacy of your personal financial information in several ways: through technology, by establishing detailed security procedures and internal control and by making sure our employees understand the crucial role they play in safeguarding member information.
We limit access to your personal financial information to those employees who need to know that information to provide products and services to you. We maintain physical electronic and procedural safeguards that comply with federal standards to protect personal financial information.
WHAT MEMBERS CAN DO TO HELP
The Credit Union is committed to protecting the privacy of its members. Members can assist the credit union by following these simple guidelines:
• Protect your account number, personal identification number (PIN) or passwords.
• Use caution when disclosing your account number, social security number, etc. to other persons. If someone calls you explaining that they represent the credit union be caution. Official credit union staff will have access to your information and will not need to ask for it.
• Keep your information with the credit union current. If your address or phone number has changed, please let us know. It is important that we have current information on how to reach you in the event that we detect fraudulent or unauthorized activity on your account.
These Disclosures Apply To all Accounts Except Where Stated.
The Annual Percentage Yield (APY) is a percentage rate that reflects the total amount of rate and annual compounding frequency. For all accounts, the Dividend Rate and Annual Percentage Yield may be changed as determined by None Suffer Lack Federal Credit Union Board of Directors.
Nature of Dividends
Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period.
Dividend Compounding and Crediting
Dividends will be compounded monthly and will be credited quarterly. For example, the beginning date of the first dividend period of the calendar year is March 31. All other dividend periods follow the same pattern of dates. The dividend declaration date follows the ending date of a dividend period, and for this example is April 1. If you close you account(s) before dividends are credited you will not receive accrued dividends.
Accrual of Dividends
For all accounts, dividends will begin to accrue on cash and non-cash deposits on the business day the deposit is made.
Balance Computations Methods
Dividends are calculated by the daily balance method, which applies a daily periodic rate to the principal in your account each day.
Account Transaction Limitations
For Payroll deductions and Electronic Fund Transfer deposits for savings cannot be withdrawn until they are posted and have cleared the system. For Regular Share Savings Account no more than THREE (3) withdrawals or transfers. For the Minor’s Share, Budget in Advance, Budget Holiday, College Fund, and Next Generations share accounts you may not make more than ONE (1) withdrawal or transfer to another credit union account of yours or to a third part. If you exceed the transaction limitation set forth above in any month your account will be subject to an excessive withdrawal fee (See Fee Schedule).
Funds Availability Policy
Our policy is to make funds from cash, wire transfer, and electronic direct deposits available to you immediately. We will delay the availability of funds from check(s) that you deposit in your account. For determining the availability of your deposits, every day is a business day, except Saturday, Sunday and Monday, 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.
Next Day Availability
Funds from the following deposits are available on the first business day after the day of your deposit.
¨ US Treasury checks (made payable to you)
¨ State and Local Government Checks
¨ Cashier’s and certified checks
¨ Postal Money Orders (made payable to you)
For Other check Deposit
The first $200 from a deposit of checks will be available on the first business day after the day of your deposit. The remaining funds will be available on the second business day after the day of your deposit.
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 the credit union as unpaid and for any other problems involving your deposit.
LONGER DELAYS MAY APPLY
If we are not going to make all of the funds from your deposit available on the day we receive your deposit, we will notify you at the time you make the 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 next day after your deposit was received.
If you will need the funds from the deposit right away, you should ask us when the funds will be available.
Ø We believe a check you deposit will not be paid.
Ø You deposit checks totaling more than $5,000 on any one day.
Ø You redeposit a check that has been returned unpaid.
Ø You have overdrawn your account repeatedly in the last six months.
Ø There is an emergency, such as failure of communications or computer 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 seven business days after the day of your deposit.
Checks drawn in a currency other than US dollars or checks drawn on a foreign bank will not be accepted for deposit. These checks will be sent for collection and credited to the member’s account when credit is received.
Special Rules for New Accounts
Funds from all other check deposits will be available on the ninth business day after the day of your deposit.
Home Mortgage Disclosure Act