Freestone Credit Union

Disclosures

Except as specifically described, the following disclosures apply to all of the accounts.

 

1. Rate Information. The Annual Percentage Yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period.  For all accounts, the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union’s Board of Directors.

 

2. Nature of Dividends. Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period.

 

3. Dividend Compounding and Crediting.  The compounding and crediting of dividends and dividend period applicable to each account are set forth in the Rate Schedule.  The Dividend Period is the period of time at the end of which an account earns dividend credit.  The Dividend Rates and Annual Percentage Yields are the rates and yields as of the last dividend declaration date which is set forth in the Rate Schedule.

 

4. Accrual of Dividends. For all accounts, dividends will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account.  For all accounts, if you close your account before accrued dividends are credited, accrued dividends will not be paid.

 

5. Balance information.  The minimum balance requirements applicable to each account are set forth in the Rate Schedule.  For Share Draft  accounts, there is a minimum  balance required to avoid a service fee for the dividend period.  If the minimum balance is not met, there will be a service fee as set forth on the reverse side.  For Share and Share Drafts accounts, there is a minimum average daily balance required to obtain the annual Percentage Yield for the dividend period.  If the minimum average daily balance is not met, you will not earn the stated Annual Percentage Yield.  For all accounts using an Average Daily Balance method, dividends are calculated by applying a periodic rate to the average daily balance in the account for the period.  The average daily balance is determined by adding the full amount of principal in the account for each day of the period and dividing that figure by the number of days in the period.

 

6. Account Limitations. For Share accounts, no more than three (3), for Money Market accounts, no more than six (6) , preauthorized, automatic, or telephone transfers may be made from these accounts to another account of yours or to a third party in any month.  If you exceed these limitations, your account may be subject to a fee or be closed.  For a Christmas Club account, the entire balance will be paid to you by check on or after November 1 (unless otherwise requested) and the account will remain open.  For Share Draft accounts, no account limitations apply.

Truth In Savings Account Disclosure

Privacy Notice Disclosure

Your online security is very important to us.  We take several precautions to ensure your information is secure.

 

To access our secure internet banking or bill pay, you must enter your Logon ID and Security Code.  As a security precaution, we store your Security Code in our database in an encrypted format that even we cannot decode.

 

In addition, Enhanced Authentication provides extra protection for your online data and helps guard against phishing scams and identity theft by recognizing your computer and usage patterns.  If a questionable logon attempt is detected, the system will require additional identity verification before allowing access.

 

Other online security measures include:

 

· Secure Sockets Layer (SSL) protocol to ensure that your connection and any information transmitted is protected.

· 128-bit encryption to make your information unreadable as it passes over the internet.

· Automatic time out that occurs if you are inactive in the secure area of our site for more than 10 minutes.

 

If your browser doesn’t support SSL or 128-bit encryption, you will need to upgrade your browser.

 

While we continue to evaluate and implement the latest improvements in internet security technology, users of the system also have responsibility for the security of their information and should always follow the recommendations listed below:

 

· Utilize current versions of Microsoft Internet Explorer, Firefox, or Netscape browsers.

· Keep your Security Code confidential

· Be sure others are not watching you enter information on the keyboard when using the system.

· Never leave your computer unattended while logged on to the system.  Others may approach your computer and gain access to your account information if you walk away.

· Exit the system when you are finished to properly end your session.  Once a session has ended, no further transactions can be processed until you log on to the system again.

· Close your browser when you are finished, so that others cannot view any account information displayed on your computer.

· Keep your computer free of viruses.  Use virus protection software to routinely check for a virus on your computer.  Never allow a virus to remain on your computer while accessing the system.    

 

About Security

Notice to Credit Union Members

Complaint Notice

 

If you have a problem with the services provided by this credit union, please contact us at:

 

Freestone Credit Union

PO Box 210 * 613 Main Street

Teague, TX 75860

254-739-2594

fcu@freestonecu.com

 

The credit union is incorporated under the laws of the State of Texas and under state law is subject to regulatory oversight by the Texas Credit Union Department. If any dispute is not resolved to your satisfaction, you may also file a complaint against the credit union by contacting the Texas Credit Union Department at 914 East Anderson Lane, Austin, Texas 78752-1699, Telephone Number: (512) 837-9236, Website: www.cud.texas.gov.

Officers:

 

Deanne Harris, President

 

Jerry L. Neal, Executive Vice-President

 

Beverly Jones, V P of Operations

 

Angela Satterwhite, Assistant to the President

 

Kim Terry, V P of Collections

 

To contact any of our officers, please email:

fcu@freestonecu.com

Freestone Credit Union Management

The 58th Annual Meeting of the Freestone Credit Union Membership was held April 14, 2011 at the Eighth Ave Baptist Church Christian Life Center in Teague, TX at 6:00 pm. 

 

The Freestone Credit Union Annual Reports for the previous year are available to the membership at the listed links. 

 

2010 Statement of Financial Condition

2010 Statement of Income & Expense

 

 

Notice: The following documents are also available at the credit union office for inspection by the membership:

· A summary of the most recent annual audit

· The most recent statement of financial condition

· The most recent statement of income & expense

· IRS Form 990

· State Bylaws

· Articles of Incorporation

2010 Annual Report to the Membership