CONSUMER DISCLOSURE STATEMENT

In Accordance with Regulation E Electronic Funds Transfer

The following are terms and conditions of the electronic transfer service that may be offered at Midwest Carpenter & Millwrights Federal Credit Union

DISCLOSURE OF CONSUMER'S LIABILITY FOR UNAUTHORIZED TRANSFERS AND OPTIONAL DISCLOSURE OF ADVISABILITY OF PROMPT REPORTING

    Liability disclosure.  Tell us AT ONCE if you believe your card/code has been lost or stolen.  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 believe your card/code has been lost or stolen, and you tell us within 2 business days after you learn of the loss or theft, you can lose no more than $50 if someone used your card/code without your permission.

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

    Also, if your statement shows transfers that you did not make, 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.

DISCLOSURE OF TELEPHONE NUMBER AND ADDRESS TO BE NOTIFIED IN EVENT OF UNAUTHORIZED TRANSFER

   Address and telephone number.   If you believe your card/code has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call:  (219) 947-1568

or write:    Midwest Carpenter & Millwrights Federal Credit Union

                680 Union Street

                Hobart, IN 46342

 

DISCLOSURE OF WHAT CONSTITUTES BUSINESS DAY OF INSTITUTION

Monday, Tuesday, Wednesday, Thursday, Friday 7:00 a.m. - 4:00 p.m.

Saturday and Sunday Closed

DISCLOSURE OF TYPES OF AVAILABLE TRANSFERS AND LIMITS ON TRANSFERS

1. Account access.  You may use your card/code to: 

    a.  Withdraw cash from your checking or savings account.

    b.  Make deposits to your checking or savings account.

2. Transfer funds between your checking and savings accounts whenever you request.

3. Limitations on dollar amounts of transfers.

    a.  You may withdraw up to $100.00 from our terminals each day, unless approved for higher amount.

DISCLOSURE THAT ACCESS DEVICE IS NOT VALIDATED AND HOW TO DISPOSE OF DEVICE IF VALIDATION IS NOT DESIRED

Account using cards.  YOU CANNOT USE THE ATM CARD TO TRANSFER MONEY INTO OR OUT OF YOUR ACCOUNT UNTIL WE HAVE VALIDATED IT.  IF YOU DO NOT WANT TO USE THE CARD.  PLEASE DESTROY IT AT ONCE BY CUTTING IT IN HALF.

DISCLOSURE OF ACCOUNT INFORMATION TO THIRD PARTIES

(a)  Account Information disclosure.  We will disclose information to third parties about your account or the transfers you make:

    (1)  Where it is necessary for completing transfers.

                OR

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

                OR

    (3)  In order to comply with government agency or court orders.

                OR

    (4)  If you give us your written permission.

DISCLOSURE OF RIGHT TO RECEIVE DOCUMENTATION OF TRANSFERS

(a)  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.

(b)  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 (219) 947-1568 to find out whether or not the deposit has been made.

(c)  Periodic statements.  Depending on the types of services you participate in, you will receive account statements either monthly or quarterly.

DISCLOSURE OF RIGHT TO STOP PAYMENT OF PREAUTHORIZED TRANSFERS, PROCEDURE FOR DOING SO, RIGHT TO RECEIVE NOTICE OF VARYING AMOUNTS, AND FINANCIAL INSTITUTION'S LIABILITY FOR FAILURE TO STOP PAYMENT

(a)  Right to stop payment and procedure for doing so.

(b)  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 at:                     (219) 947-1568

OR

Write us at:                 680 Union Street

                                 Hobart, IN 46342

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 will also require you to put your request in writing and get it to us within 14 days after you call.  We will charge you $7.50 for each stop-payment order you give.

(b)  Notice of varying amount. If these regular payments may vary in amount, the person you are going to pay should 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.

(c) 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.

DISCLOSURE OF FINANCIAL INSTITUTION'S LIABILITY FOR FAILURE TO MAKE TRANSFERS

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

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

    (2)  If the transfer would go over the credit limit on your overdraft line.

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

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

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

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

IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS

TELEPHONE US AT:  (219) 947-1568

OR

WRITE US AT:    680 Union Street

                       Hobart, IN 46342

as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt.  We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.

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

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

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

 

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

    We will tell you the results of our investigation 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 questions.  If we decide to do this, we will recredit 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 recredit your account.

    If we decide that there was no error, we will send you a written explanation within 3 business days after we finish our investigation.  You may ask for copies of the documents that we used in our investigation.

AMENDMENTS

   We may amend all terms and conditions at any time, but will give you notice 45 days before the amendment becomes effective if the amendment will result in increased charges or liability to you or stricter limitations on the transfers you may make.  Such notice may be mailed to you at the last address of record on our files.

(a)  If, however, an immediate change in terms and conditions is necessary for security reasons, we may amend these terms and conditions without prior notice.

(b)  We reserve the right to levy service fees in accordance with fee schedules adopted by the credit union from time to time.  If other terms and conditions set by us are in conflict with this disclosure, this CONSUMER DISCLOSURE STATEMENT will prevail.

Your ATM card may be used at all CIRRUS & Star Teller machines.

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