Are adequate safeguards provided?
As in all Federal Credit Unions, ours is under the supervision of the National Credit Union Administration (NCUA), and is examined at least once a year by the Federal Examiners.
One comprehensive annual audit is performed by the Supervisory Commitee or an outside auditor. A copy of this annual audit is submitted to the National Credit Union Administration.
A fidelity bond is provided to protect the assets of the Credit Union. This bond provides protection against all general losses resulting from the embezzlement, defalcation, forgery, robbery, burglary and other loss hazards.
The Credit Union also carries liability insurance to protect against injuries, etc. on the premises of the Credit Union.
All funds are insured to at least $250,000 and backed by the full faith and credit of the United States Government. We are federally insured by NCUA.
The Credit Union uses firewalls and other security software to monitor our network 24 hours a day, 7 days a week. We use the latest virus scanning technology to scan all outgoing messages and files available for download for viruses. In the event of a security breach, we will notify authorities and members as required by law.
How can savings be withdrawn?
Savings may be withdrawn by telephone request or personal request Monday through Friday. Withdrawal requests are taken from 8:30 a.m. to 3:30 p.m. Monday through Friday and may be picked up after 10:00 a.m. on these days. Telephone withdrawals made after 3:30 p.m. will be processed the next business day.
Audio Response withdrawals are done daily, Monday through Friday, the same as if you called our office, and are available for pickup at our Grant Street Office.
Third party wire transfers must be called in prior to noon to have funds transferred the same day. Withdrawals may also be received by mail and the Credit Union will mail out checks at your request. Minimum withdrawal amount is $25.00 and only one share withdrawal per week, as this is a savings account.
Information collected from E-mails:
Do not send emails with sensitive information such as: Account numbers, debit card numbers, or your full Social Security number. When you send us personally identifying information, for example, in an electronic mail message containing a question or comment, we use this information to respond to your request. We do not create individual profiles with the information you provide. We won’t give, sell or transfer personal information to third parties, unless required by law.
Protect yourself
Never disclose personal information to anyone unless you initiated the transaction or telephone conversation;
Shred all unwanted mail solicitations;
Review all debit and credit card statements upon receipt for unauthorized transactions;
Keep all personal information secure;
Type Web sites directly into your Web browser;
Memorize strong passwords, eight characters long with one number and a symbol;
Never disclose a password;
Change your passwords every few months;
Log out of web sites and close your browser;
Use personal firewalls, antivirus and anti spyware software programs and update them on a regular basis;
Regularly update your operating system and web browser using the auto update feature;
Do close windows containing pop-up ads or unexpected warnings by clicking on the “X” button in the uppermost right hand corner of that window, not by clicking within the window;
Perform regular backups of important data;
Report suspicious or unauthorized transactions immediately for prevent further fraud.
How are deposits and payments made?
1. By Payroll Deductions, Direct Deposits, over-the-counter deposits and through the mail
2. If checks are sent through the U.S. mail, please list account number and amount desired deposited to shares and loans. One check may be sent to cover deposits to shares and payments on all loans. Please specify how you wish money to be distributed. If you wish to have a receipt, please enclose a self-addressed, stamped envelope.
3.Deposits/payments received by 3:00 p.m. are posted daily upon receipt. Deposits/payments received after 3:00 p.m are posted the next business day.
Must a member agree to save each payday?
Yes, and the Credit Union certainly encourages one to do so. Small regular amounts add up faster than occasional large amounts. How regularly you save is more important than how much you save, although we ask that you save a minimum of $5.00 a week or $20.00 a month, depending on your pay period. The break-even point on a share account is $100.00 and the Credit Union asks each member to maintain such a balance.
Is there more than one type of savings account?
Yes. There are six types of savings available to the member. They may have all six at the same time. These savings are: the Regular Share Account, the Christmas Club, the Special Club, the Family Member, Certificate and IRAs. Dividends are earned on an average daily balance. All types of savings accounts have the dividend posted quarterly. Please check with the office staff for current rates.
Change in Terms: Expedited Funds Availability Act (Regulation CC)
The Federal Reserve has recently restructured the check-processing operations within the Federal Reserve System. Effective February 27, 2010, there will only be a single check processing region, which will result in checks no longer being considered non-local for purposes of Regulation CC. A single check-processing region will subject some checks to faster funds availability schedules.
What This Means For You
As a result of these changes, all references to non-local checks as well as time periods related to non-local check deposits in your funds availability disclosures are no longer effective. Instead, checks that were once considered non-local and subject to longer hold times will now be considered local and subject to faster availability. Based on the current policy, the first $200 from a deposit of local 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 refer to your funds availability disclosure for deposits made at non proprietary ATMs.
If you have any questions, please contact us.
