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Freestone Credit Union |
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Disclosures |
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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. |
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Truth In Savings Account Disclosure |
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Freestone Credit Union, your member owned financial institution, is committed to providing you with competitive products and services to meet your financial needs and help you reach yours goals. We are equally committed to protecting the privacy of our members. Under federal law, we are required to give you this privacy notice. It describes our credit union’s privacy policy and practices concerning the personal information we collect and disclose about our members. It also includes information about the parties who receive personal and sometimes nonpublic information from us as we conduct the business of the credit union. If after reading this notice you have questions, please contact us at (254) 739-2594 or write to: Vice President of Member Services Information We Collect About You · 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 from other institutions where you conduct financial transactions We may disclose all of the information we collect, as described above, as permitted by law. Parties Who Receive Information From Us · Financial service providers, such as insurance companies · Non-financial companies, such as consumer reporting agencies, data processors, check/share draft printers, plastic card processors, and government agencies 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 of the information we collect, as described above, to nonaffiliated third parties for the purposes of processing and servicing transactions that you request or authorize. We may also disclose nonpublic personal information about you under circumstances as permitted or required by law. These disclosures typically include information to process transactions on your behalf, conduct the operations of our credit union, follow your instructions as you authorize, or protect the security of our financial records. To protect our members’ privacy, we only work with companies that agree to maintain strong confidentially 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 Freestone Credit Union, we will not share information we have collected about you, except as may be permitted or required by law. How We Protect Your Information We restrict access to nonpublic personal information about you to those employees who need to know that information to provide products or services to you. We maintain physical, electronic, or procedural safeguards that comply with federal regulations to guard your nonpublic personal information. What Members Can Do To Help Freestone Credit Union is committed to protecting the privacy of its members. Members can help by following these simple guidelines: · Protect your account numbers, plastic card numbers, PINs (personal identification numbers) or passwords. Never keep your PIN with your card, which can provide free access to your accounts if your card is lost or stolen. · Use caution when disclosing your account numbers, social security numbers, etc. to other persons. If someone call you explaining the call is on behalf of the credit union and asks for your account number, you should beware. Official credit union staff will have access to your information and will not need to ask for it. · Keep your information with us current. If your address or phone number changes, please let us know. It is important that we have current information on how to reach you. If we detect potentially fraudulent or unauthorized activity or use of an account, we will attempt to contact you immediately. Let us know if you have questions. Please do not hesitate to call us—we are here to serve you!
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Privacy Notice Disclosure |
