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This Agreement is the contract of deposit which covers your and our rights and responsibilities concerning Business Membership and Account(s) offered to you. In this Agreement, the words “you” and “yours” mean the Account Owner on whose behalf the Account Card was signed. The words “we,” “us,” and “our” mean the Fibre Federal Credit Union (“Credit Union”). The word “account” means any one or more share or deposit accounts you have with the Credit Union.
By signing the Account Card (“Card”) that is a part of the Agreement, you agree to the terms and conditions in this Agreement, including the Funds Availability Policy, and Rate and Fee Schedule accompanying this Agreement, which collectively govern your Business Membership and Accounts. You agree that additional accounts and services you request in the future will be governed by this Agreement, as amended from time to time.
I. MEMBERSHIP AND ACCOUNTS.
1. Membership Eligibility. To be eligible for membership in the Credit Union you must be an individual, sole proprietor or entity qualifying within the Credit Union’s field of membership and must purchase and maintain at least one share (the “membership share”) and pay a membership fee as required by the Credit Union’s Bylaws. You authorize us to check your account, credit and employment history, and obtain a credit report from third parties, including credit reporting agencies, to verify your eligibility for the accounts and services you request.
2. Accounts of Business Organizations. The Credit Union reserves the right to require the member to provide an Account Authorization Card informing the Credit Union who is authorized to act on its behalf. You agree to notify the Credit Union of any change in authority. The Credit Union may rely on the written authorization until such time as the Credit Union is informed of changes in writing and has had a reasonable time to act upon such notice. The Credit Union may require that third party checks payable to an organization may not be cashed, but must be deposited to an organization account. The Credit Union shall have no notice of any breach of fiduciary duties arising from a transaction by any agent of the account owner, unless the Credit Union has written notice of any wrongdoing.
3. Certificate of Authority. The Account Owner and each person who signs an Account Card certifies that:
a. Name. The Account owner shown on the front of the account card is the complete and correct name of the Account Owner.
b. Authorized Signers. The listed officers, authorized agents, or trustees, as applicable of the Account Owner presently occupy the positions shown on the front side and are authorized to transact business on behalf of the Account Owner.
c. Authority.
1. The individuals signing on the account card certify and agree that the Account Owner’s accounts will be governed by the terms set forth in this Membership and Account Agreement, as amended from time to time.
2. The Credit Union is directed to accept and pay without further inquiry any item, bearing the appropriate number of signatures as indicated on the account card, drawn against any of the Account Owner’s accounts with the Credit Union.
3. Unless otherwise indicated, any one Authorized Signer is expressly authorized to endorse all checks, overdrafts, notes and other items payable at the Credit Union, and to execute such other agreements and to perform such other acts as they deem reasonably necessary to carry out the provisions of this Agreement.
4. The authority given to the Authorized Signers shall remain in full force until written notice of revocation is delivered to and received by the Credit Union. Any such notice shall not affect any items in process at the time notice is given. An authorized officer, trustee, or agent of the Account Owner will notify the Credit Union of any change in the Account Owner’s composition, assumed business names, or any aspect of the entity affecting the deposit relationship between the Account Owner and the Credit Union before any such change occurs. The Account Owner agrees that the Credit Union shall not be liable for any losses due to the Account Owner’s failure to notify the Credit Union of such changes.
4. Deposit Requirements. Deposits may be made to any account by cash, check, or other item in accordance with the deposit requirements set forth on the Credit Union’s Rate and Fee Schedule. All accounts are nonassignable and nontransferable to third parties.
a. Endorsements. You authorize the Credit Union, in its discretion, to accept transfers, checks, drafts, and other items for deposit into any of your accounts if they are made payable to, or to the order of, any one or more owners on the account, whether or not they are endorsed by all owners. You agree not to deposit any substitute check or similar item that you have created, or for which no bank has made the substitute check warranties and indemnity prescribed under federal law. If you do so, you agree to indemnify the Credit Union for all losses the Credit Union incurs in connection with the substitute check or item. You agree not to deposit any substitute check without our consent. You authorize the Credit Union to supply missing endorsements if the Credit Union chooses to supply such endorsements. When you deposit items to your account, you warrant that all prior endorsements are genuine. The Credit Union reserves the right to verify all endorsements on third party checks presented for payment or deposit either in person or by comparison with member signature files. Insurance, government, and certain other checks or drafts must be endorsed in person exactly as they are made payable. Endorsements must be placed in the space on the back of the check between the top edge and 1 inch from the top edge. The Credit Union may accept drafts or checks with endorsements outside this space. However, if any such endorsement causes any delay in processing the item for payment, you will be responsible for any loss incurred by the Credit Union due to the delay. The Credit Union may disregard information on any check other than the signature of the drawer and amount of the item and any magnetic encoded information. You agree the Credit Union does not fail to exercise ordinary care in paying an item solely because its procedures do not provide for sight examination of items.
b. Collection of Items. The Credit Union shall not be responsible for deposits made by mail or at an unstaffed facility until the Credit Union actually receives them. In receiving items for deposit or collection, the Credit Union only acts as your collection agent and assumes no responsibility beyond the exercise of due care. The Credit Union will not be liable for default or negligence of any correspondent or for loss in transit, and each correspondent will only be liable for its own negligence.
c. Final Payment. All noncash deposits posted to your account are provisional and subject to our receipt of final payment. If final payment is not received, we reserve the right to charge your account for the amount of those deposits and impose a return item charge on your account. After we have received final payment, we refer to these deposits as collected items. If the Credit Union incurs any fee to collect your deposit item, the Credit Union may charge such fee to your account. The Credit Union reserves the right to refuse all or any part of a deposit, to return a deposit or to close your account.
d. Direct Deposits. The Credit Union may offer direct deposit options allowing you to preauthorize deposits (i.e., government checks) or preauthorize transfers from other accounts at the Credit Union. You must authorize any direct deposits to your accounts by a separate authorization form. If applicable, you must notify the Credit Union at least 30 days prior to any direct deposit or preauthorized transfer if you wish to cancel or change the direct deposit or direct transfer option. Upon a filing of a bankruptcy, if you fail to cancel any direct deposit authorization, you instruct your employer and the Credit Union to make and apply direct deposits in accordance with your authorization on file with the Credit Union. If the Credit Union is required to reimburse the U.S. Government for any benefit payment directly deposited into your account for any reason, you agree the Credit Union may deduct the amount returned from any of your accounts, unless prohibited by law.
e. Crediting of Deposits. Unless otherwise stated in the Funds Availability Policy, deposits received at our offices on business days before the deposit cutoff time will be credited to your account as of the day of the deposit. Deposits made after the deposit cutoff time and deposits made on Credit Union holidays and on days that are not business days of the Credit Union will be credited to your account on the next business day. Deposits received at unstaffed teller locations, such as night depositories, will be credited on the day funds are removed and processed by the Credit Union. You waive any notice of nonpayment, dishonor, or protest regarding any items credited to your account.
5. Account Access.
a. Authorized Signature. In order to access any account, the Credit Union must have an authorized signature of each authorized signer on an Account Card. The Credit Union is authorized to recognize each authorized signature, but will not be liable for refusing to honor any item or instruction of yours if it believes in good faith that the signature on such item or instruction is not genuine.
b. Access Options. You may make withdrawals or transfers from your account in any manner which is permitted by the Credit Union (i.e., check, automated teller machines (ATMs), debit card, online banking, in person, by mail, automatic transfer, or telephone). If you make withdrawals by check, the check must be properly completed and signed by you or your representative whose authority is on file with us. The Credit Union may return as unpaid any check that is not drawn in the form provided by the Credit Union.
c. ACH & Wire Transfers. You may initiate or receive credits or debits to your account via wire transfer or ACH (“Automated Clearing House”) transfer. You agree that if you receive funds by a wire or ACH transfer, the Credit Union is not required to notify you at the time the funds are received. Instead, the transfer will be shown on your periodic statement. The Credit Union may provisionally credit your account for a wire or ACH transfer before it receives final settlement for the transfer. You agree that if the Credit Union does not receive final settlement for a transfer or receives an authorized reversal transaction, we may reverse the provisional credit to your account. When you initiate a wire transfer, you may identify either the recipient or any financial institution by name and by account or identifying number. The Credit Union (and other institutions) may rely on the account or other identifying number you give, even if it does not match the party named in your instructions. Wire transfers are governed by Federal Reserve Regulation J if the transfer is cleared through the Federal Reserve. ACH transactions are governed by the rules of the National Automated Clearing House Association.
d. Transactions by Mail. Except as otherwise provided in this Agreement, the Credit Union may permit you to make deposits, transfers, and withdrawals by mail. Transfers and withdrawals by mail will require a signed written request by you. Such transactions will be posted to your account as of the day the transaction is processed at the Credit Union.
e. Electronic Check Transactions.
1. Electronic Checks. If you authorize a merchant to electronically debit your checking account using the routing, account and serial number of your check to initiate the transfer, whether the check is blank, partially or fully completed and signed, such authorization is an electronic funds transfer (“EFT”) subject to the terms of your Electronic Funds Transfer Agreement. You authorize us to honor any electronic check conversion from your checking account just the same as a regular written check.
2. Electronic Re-presented Checks. If you write a check on your account that we return unpaid because of insufficient or uncollected funds, payee or any subsequent holder of the check may represent the check to us, through an electronic instruction (“Electronic Represented Check”) to charge your account for the amount of the check. If we receive an electronic re-presented check, we will pay or return the electronic re-presented check as if the original paper check was presented to us. Any collection fee you authorize the merchant to debit from your account is an electronic funds transfer subject to the terms of your Electronic Funds Transfer Agreement. If you want to reverse an electronic re-presented check, you must give us an affidavit within 15 days after we send or make available to you the periodic statement that reflects payment of that electronic re-presented check. In your affidavit, you must declare and swear under oath that the electronic re-presented check was ineligible or unauthorized. If we receive a proper notice or affidavit from you within the 15-day period, we will recredit your account with the amount of the charge. If you wish to stop payment of any electronic represented check, you must follow the procedures contained in this Agreement for stopping payment of checks, not the procedures for stopping payment on electronic loan or bill payments. If you ask us to request the depositor’s bank to send us the original paper check or a copy of the paper check, and we provide it to you, you agree that you will not seek to have your account recredited due to a prior stop payment order of if the item is otherwise ineligible for collection.
6. Account Rates and Fees. The Credit Union’s payment of dividends or interest on any account is subject to the account rates and fees, earnings, payment and balance requirements as set forth on the Rate and Fee Schedule and each Certificate Receipt, which are incorporated herein by this reference. You agree the Credit Union may impose fees and charges for the deposit account services provided by the Credit Union. A current Rate and Fee Schedule has been provided to you separately. You agree that the Rate and Fee Schedule may change from time to time and you will be notified of such changes as required by law.
7. Transaction Limitations.
a. Withdrawal Restrictions. The Credit Union will permit a withdrawal only if you have sufficient available funds in your account to cover the full amount of the withdrawal or have an established overdraft protection plan. Drafts or other transfer or payment orders which are drawn against insufficient available funds will be subject to a service charge, set forth in the Rate and Fee Schedule. If there are sufficient available funds to cover some but not all of your withdrawal orders, the Credit Union may allow those withdrawals for which there are sufficient available funds in any order at the Credit Union’s discretion.
The Credit Union can also refuse to allow a withdrawal in other cases; for example: any dispute between the owners about the account (unless a court has ordered the Credit Union to allow the withdrawal); a legal garnishment or attachment is served; the account secures an obligation to the Credit Union; any required documentation has not been presented; or you fail to repay a Credit Union loan on time. Any garnishment is subject to the Credit Union’s lien or security interest in an account. You will be advised of the reasons for refusal if such action is taken. The Credit Union reserves the right to require members to give notice in writing of any intended withdrawals from any account (except checks) of not less than 7 days and up to 60 days, as required by applicable law, before such withdrawal.
b. Transfer Limitations. For savings and money market accounts, you may make up to six (6) preauthorized, automatic, telephonic, automated telephone accessor online banking transfers to another account of yours or to a third party during any calendar month. A preauthorized transfer includes any arrangement with the Credit Union to pay a third party from the member’s account upon oral or written orders, including orders received through the automated clearing house (ACH). There is no limit on the number of transfers or withdrawals you may make from your savings or money market account (i) by mail, in person or by telephone instructions resulting in a check mailed directly to you; or (ii) to make a payment on a loan account with the Credit Union. If a transfer request would exceed the transfer limitations set forth above in any statement period, the Credit Union may refuse or reverse the transfer, and your account will be subject to suspension or closure by the Credit Union, and the Credit Union may impose a charge.
8. Certificate Accounts. Any share certificate or certificate of deposit allowed by state law (Certificate Account), offered by the Credit Union, is subject to the terms of this Agreement and the specific terms and disclosures set forth on the deposit receipt for each account which is incorporated herein by reference.
9. Overdrafts.
a. Overdraft Liability. If on any day, the available funds in your checking account are not sufficient to cover checks and other items or transactions (overdrafts) posted to your account, those checks and items will be handled in accordance with our overdraft procedures or an overdraft protection plan you have with us. The Credit Union’s determination of an insufficient account balance may be made at any time between presentation and the Credit Union’s midnight deadline with only one review of the account required. The Credit Union has no duty to notify you of an insufficient funds check. Your account will then be subject to a charge for the item whether paid or returned as set forth in the Rate and Fee Schedule. Except as otherwise agreed in writing, the Credit Union, by covering one or any overdraft, does not agree to cover overdrafts in the future and may discontinue covering overdrafts at any time. If the Credit Union pays a draft that would otherwise overdraw your account, you agree to pay the overdraft amount immediately. We reserve the right to pursue collection of previously dishonored items at any time, including giving a payor bank extra time beyond any midnight deadline limits.
b. Overdraft Protection Plan. Unless you notify us, we will provide an overdraft protection plan for you, we will honor drafts drawn or transfers initiated on insufficient funds in any checking account by transferring the necessary funds from a deposit account or loan account of yours, if applicable, to your checking account. Unless otherwise directed, we will transfer funds to your overdrawn account from the deposit and loan accounts designated on your Account Card, if applicable. Overdraft transfers will be in the amount necessary to cover the overdraft. The fee for overdraft transfers is set forth on the Rate and Fee Schedule. Transfers from a deposit account will be governed by this Agreement. Transfers from a loan account will be governed by the applicable loan agreement.
10. Postdated and Staledated Items. You must not date a check later than the date that you write it. If you do and the item is presented for payment before its date, the Credit Union may return it unpaid or pay the item unless you notify the Credit Union of the postdating. Your notice will be effective only if the Credit Union receives the notice in time for the Credit Union to notify its employees and reasonably act upon the notice and you accurately describe the item, including the number, date, and amount. If you give the Credit Union an incorrect, incomplete, or untimely notice, the Credit Union will not be responsible for paying the item before the date stated and the Credit Union may charge your account as of the date the Credit Union pays the item. Verbal notices will remain in effect for fourteen (14) days. Written notices are effective for six (6) months unless renewed in writing. You also agree not to deposit checks, drafts, or other items before they are properly payable. The Credit Union is under no obligation to you to pay a check or draft drawn on your account which is presented more than six months after its date, but may charge your account for payment unless the item is certified or you have placed an effective stop payment.
11. Stop Payment Orders
a. Stop Payment Request. You may, upon timely and proper request, ask the Credit Union to stop payment on any check drawn upon your checking account. You may request a stop payment by telephone, by mail, or by appearing in person. The stop payment will be effective if the Credit Union receives the order in time for the Credit Union to act upon the order and you state the number of the account, date and number of the item, its exact amount, and to whom it was issued. If you give the Credit Union incorrect or incomplete information, the Credit Union will not be responsible for failing to stop payment on the item. If the stop payment order is not received in time for the Credit Union to act upon the order, the Credit Union will not be liable to you or to any other party for payment of the item. If we recredit your account after paying a check over a valid and timely stop payment order, you agree to sign a statement describing the dispute with the payee, to transfer all of your rights against the payee or other holders of the check to the Credit Union, and to assist the Credit Union in legal action taken against the person.
b. Duration of Order. Your stop payment request will remain in effect for 6 (six) months. A stop payment order may be renewed from time to time. The Credit Union is not obligated to notify you when a stop payment order expires.
c. Liability. The Credit Union may charge a fee for each stop payment order requested, as set forth on the Rate and Fee Schedule. You may not stop payment on any certified check or draft or any other check, draft, or payment guaranteed by you or the Credit Union. You can only stop payment on any other checks or drafts that the Credit Union issues on your behalf in the Credit Union’s sole discretion. You should be aware that while payment of the item may be stopped, you may remain liable to any person, including the Credit Union, who is a holder of the item despite the stop payment order. If you place a stop payment order and the item is paid through no fault of yours, the Credit Union will only be liable for actual damages you incur, not to exceed the amount of the check.
12. Lost Items. The Credit Union, in receiving items from you for withdrawal or deposit, acts only as your agent and reserves the right to reverse the credit for any deposited items or to charge your account for the items should they become lost in the collection process.
13. Credit Union Liability. If the Credit Union does not properly complete a transaction according to this Agreement, the Credit Union will be liable for your losses or damages not to exceed the amount of the transaction. The Credit Union will not be liable if: (a) through no fault of the Credit Union, your account does not contain enough money to make the transaction; (b) circumstances beyond the Credit Union’s control prevents the transaction; (c) your loss is caused by your negligence or the negligence of another financial institution; or (d) the money in your account is subject to legal process or other claim. In no event will the Credit Union be liable for consequential damages. You grant the Credit Union the right, in making payments of deposited funds, to rely exclusively on the form of the account and the terms of this Account Agreement. Any conflict between oral representations by you or Credit Union employees and any written form will be resolved by reference to this Agreement and applicable written form.
14. Credit Union Lien and Security Interest. If you owe the Credit Union money as a borrower, guarantor, endorser or otherwise, the Credit Union will have a lien on any or all of the funds in any account in which you have an ownership interest at the Credit Union, regardless of the source of the funds. The Credit Union may apply these funds in which it has a lien to pay off your indebtedness, including any costs or attorney fees incurred by the Credit Union in enforcing its rights. If the Credit Union chooses not to enforce its lien, the Credit Union does not waive its right to enforce the lien at a later time. You grant the Credit Union a consensual security interest in your deposit accounts and agree the Credit Union may use the funds from your accounts to pay any debt or amount owed the Credit Union unless prohibited by applicable law.
15. Legal Process. If any legal action, such as a levy, garnishment, or attachment, is brought against your account, the Credit Union may refuse to pay out any money from your account until the dispute is resolved or may pay out funds according to the terms of the levy. If the Credit Union incurs any expenses or attorney fees in responding to legal process, such expenses may be charged against your account without prior notice to you, unless prohibited by law. Any legal process against your account is subject to the Credit Union’s lien and security interest.
16. Account Information. Upon your request, the Credit Union will inform you of the name and address of each credit reporting agency from which the Credit Union obtains a credit report in connection with your account. The Credit Union agrees not to disclose information to third parties about your account regarding any transaction or balances except when: (1) it is necessary to complete the transaction; (2) the third party seeks to verify the existence or condition of your account in accordance with the Fair Credit Reporting Act or other applicable laws and regulations; (3) such disclosure is in compliance with the law, government agencies or court orders; or (4) you give us your written permission.
17. Notices.
a. Name or Address Changes. It is your responsibility to notify the Credit Union upon a change of address or change of name. The Credit Union is only required to honor items drawn upon the name as listed on the account and to attempt to communicate with you only at the most recent address you have provided to the Credit Union. The Credit Union may accept verbal notices of a change in address and may require any other notice be provided in writing. If the Credit Union attempts to locate you, the Credit Union may impose a service fee as set forth on the Rate and Fee Schedule.
b. Notice of Amendments. Except as otherwise prohibited by applicable law, the terms of this Agreement and all fees and other agreements provided to you in connection with this account are subject to change at any time as declared by the Credit Union Board of Directors. The Credit Union will notify you of any changes in account terms, rates, or fees as required by law. If notice is given by mail, you agree only one notice is necessary in the case of a joint account. You may terminate your account prior to the effective date of any changes. You or any account holder may change the account ownership and types of accounts or services at any time without the consent of any other account holder. Amendments requested by you, or any one joint account owner, such as adding or closing a new type of account or service, may be made by telephone instruction. You agree that oral instructions are binding and agree to hold Credit Union harmless from any liability arising as a result of such instructions. Changes in account ownership, such as adding or removing a joint account owner, must be evidenced by a signed Account Change Card which, upon execution, will be incorporated herein by this reference. The Credit Union reserves the right to waive any term in this Agreement. Any such waiver shall not affect the Credit Union’s right to enforce any right in the future.
18. Statements.
a. Contents. If the Credit Union provides a statement for your account, you will receive a periodic statement of all transactions and activity on your account during the statement period. The amount and date of any payment, deposit, withdrawal, transfer, payment of dividends or interest, and any fees imposed will appear on your statement. For share drafts and checking accounts, you understand that your original draft or check (or any substitute check) will not be returned to you, but copies will be retained by Credit Union and made available upon your request. You agree to keep a copy of your original check or draft in order to verify its validity.
b. Examination. You are responsible for examining each statement and your check copy and reporting any irregularities to the Credit Union. The Credit Union will not be responsible for any forged, altered, unauthorized, or unsigned item drawn or deposited to your account if you fail to notify the Credit Union within thirty (30) days of the mailing date of the earliest statement and availability of drafts containing any forgery, alteration, or unauthorized signature on the item. The Credit Union will not be liable for items forged or altered in a manner not detectable by a reasonable person including, but not limited to, the unauthorized use of a facsimile signature machine.
c. Notice to Credit Union. You agree that the Credit Union’s retention of drafts does not alter or waive your responsibility to examine your statements and check copies or the time limit for notifying the Credit Union of any errors. The statement will be considered correct for all purposes and the Credit Union will not be liable for any payment made or charged to your account unless you notify the Credit Union in writing within the above time limit after the statement and drafts are made available to you.
19. Termination of Account. The Credit Union may terminate your account at any time without notice to you or may require you to close your account and apply for a new account if (1) there is a change in owners or authorized signers; (2) there has been a forgery or fraud reported or committed involving your account; (3) there is a dispute as to the ownership of the funds in the account; (4) any account checks are lost or stolen; (5) if there are excessive returned unpaid items not covered by an overdraft protection plan; or (6) if there has been any misrepresentation or any other abuse of any of your accounts. You may terminate any single party account at any time by notifying the Credit Union in writing. The Credit Union reserves the right to require the consent of all multiple party account owners for termination of a multiple party account. The Credit Union is not responsible for payment of any draft, withdrawal, or other item once your account is terminated.
20. Termination of Membership. You may terminate your membership at the Credit Union after giving written notice of your intent to withdraw from membership. The Credit Union is not liable for payment on any check item or other instruction once your membership is terminated. You may be denied services or expelled from membership for any reason allowed by applicable law, including causing a loss to the Credit Union.
21. Severability. In the event that any paragraph of this Agreement or any portion thereof is held by a court to be invalid or unenforceable for any reason, the other paragraphs and portions of this Agreement shall not be invalid or unenforceable and will continue in full force and effect.
22. Enforcement. You agree to be liable to the Credit Union for any loss, cost, or expense as provided in this Agreement that the Credit Union incurs as a result of your failure to follow this Agreement. You authorize the Credit Union to deduct any such loss, costs, or expenses from your account without prior notice to you. In the event either party brings a legal action to enforce the Agreement or collect any amount due under this Agreement, the prevailing party shall be entitled, subject to applicable law, to payment by the other party of its reasonable attorney’s fees and costs, including fees on any appeal, bankruptcy proceedings, and any post-judgment collection actions, if applicable. If there is a lawsuit, you agree that it may be filed and heard in the county and state in which the Credit Union is located, if allowed by applicable law.
23. Governing Law. This Agreement is governed by the Bylaws of the Credit Union, federal laws and regulations, the laws, including applicable principles of contract law, and regulations of the State of Washington and local clearinghouse rules, as amended from time to time. To the extent permitted by applicable law, any legal action regarding this Agreement shall be brought in a state or federal court with jurisdiction of the county in which the Credit Union is located.
II. FUNDS AVAILABILITY POLICY.
1. General Policy. For savings accounts, we reserve the right to place reasonable holds on deposited funds to the extent permitted by law. For checking accounts, our policy is to make funds from your deposits available to you on the first business day after we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once they are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written. For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays with the exception of Saturdays for which the Main Branch is open at 822 Commerce Avenue, Longview, Wa. 98632. If you make a deposit before 5:30 pm at a branch office on a business day that we are open, we will consider that day to be the day of your deposit. If you make a deposit before 12:00am at an ATM at any Credit Union branch on a business that we are open, we will consider that day to be the day of deposits. ATM deposits are not made available until the next business day for which all branch locations are open. All ATM’s that we own or operate are identified as our machines. Night depository deposits made by 8:30 am on a business day we are open will be deposited to your account that day.
2. Reservation of Right to Hold. We reserve the right to deposit certain checks to a savings account and apply the hold on the entire amount of the check until the funds become available. If we are not going to make all of the funds from your deposit available on the first business day, we will notify you at the time you make your 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 day after we receive your deposit. If you will need funds from a deposit right away, you should ask us when the funds will be available. Even though we make funds available to you, you are still responsible for payment of any returned items.
3. Holds on Other Funds. If we cash a check for you that is drawn on another financial institution, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it. If we accept for deposit a check that is drawn on another financial institution, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.
III. PRIVACY POLICY.
1. Our Privacy Pledge. At Fibre Federal Credit Union we respect the privacy of our members. We recognize the importance of maintaining the confidentiality of your personal financial information. This notice describes the privacy policy and practices followed by Fibre Federal Credit Union., including what types of member information we collect and under what circumstances we may share it.
2. Member Information We Collect. We collect only relevant information about members in order to establish and maintain your account and services as the law allows or requires us to collect. We may collect personal and financial information about you which is “nonpublic” (member information). The member information we collect varies depending on the accounts and services you request and use. We collect information about you from the following sources:
Application Information. We retain personal information we receive from you on any application you provide for a deposit account, EFT service, credit cards, consumer and real estate loans, financial planning, insurance and securities. Application information includes: name, address, social security number, phone number, birth date, employment and financial status and credit history.
Your Transactions. Any time you make a transaction on one of your accounts, including ATM or card transactions, loan advances, and transactions through Online banking, over the phone or at a branch we retain the transaction information. This includes: your account number, the date, amount and location of the transaction.
Credit Reports. When we evaluate your application for an account or service, we may request a credit report about you from a consumer reporting agency. We retain the personal and credit history information about you and we may use it to evaluate future account service requests.
Online. We obtain information online when you visit our website, www.fibrecu.com. This includes retaining information you provide us on any online application, online banking transactions or information you send to us by e-mail.
3. Our Sharing of Member Information. In order to provide financial services to you, we share certain information about you with our third party service providers. However, we limit any information sharing to the extent necessary to service your account or offer new services to you. If we share your information, it is with the goal of bringing you quality services, more choices, and greater convenience. Information we may have about former members is generally only shared or disclosed if required to enforce or administer an account or as required by law.
Sharing Information with Third Party Service Providers. In order for us to conduct our operations, including servicing your account or processing your transactions, we need to share information with our service providers, including: data processing companies, check, ATM and other payment processing companies, payment networks, loan service providers, collection agencies, credit reporting agencies, insurance companies and service providers with whom we have joint marketing agreements, including MEMBERS Financial Network who provides financial planning, securities brokerage and insurance services. These service providers act on our behalf and have agreed in writing to keep the member information we provide to them confidential. We may share the following categories of information to third party service providers depending on the specific services provided:
- Personal information (name, address, social security number)
- Account information (type of accounts, account number, account balances, transaction history)
- Transaction information (dates, amounts, locations and type of transaction)
We do not sell member information nor share your account numbers with independent third party marketers offering their products and services. While we may offer financial products and services of our affiliate or third party service providers, we control the member information used to make such offers.
Sharing Information as Legally Required or Permitted. We may share any member information of yours in response to a lawful request issued by a court, government agency, or regulatory authority or as permitted by law in order to administer or enforce your account. We may also share our experience information about you with credit bureaus. Our reporting to credit bureaus is governed by the Fair Credit Reporting Act, which affords you the right to make sure that your credit bureau reports are accurate.
4. Our Confidentiality and Security Safeguards. We maintain strict policies and security controls to assure that member information in our computer systems and files is protected. Our employees are permitted access to member information that they may need to perform their jobs and to provide service to you. Our employees have access to such member information as necessary to conduct a transaction or respond to your inquiries. All employees are trained to respect member privacy. No one except our employees has access to the Credit Union computer system and records storage. The Credit Union has established internal security controls, including physical, electronic and procedural safeguards to protect the information you provide us and the information we collect about you. We will continue to review our internal security controls to safeguard your member information as we employ new technology in the future.
5. Online Privacy Protections. At our website, www.fibre.com you may apply for accounts and services and you may communicate with us via e-mail. To protect the information you provide us online, we use multiple levels of security. The application information we accept online and our CU Online service relies on industry standard “Secure Sockets Layer” (SSL) encryption to secure your transaction information and communication. Generally, our e-mails are not secure. However, if we ask you to send us information electronically other than your name, address, e-mail address and phone number, it will be obtained using a secure (SSL encryption) electronic form. When you visit our website, you can access site information, without revealing your personal identity. However, in order to help us identify you for future site visits, we use “cookies” to track your visit. A “cookie” is a piece of information that our web server stores on your computer hard drive and retrieves later. The cookie will not request, require or collect personal identity information and you remain anonymous. Your member information is not accessed by or stored within a cookie in any way.
6. Protecting Children’s Information Privacy. Our online financial services are not designed for or directed toward children. We do not knowingly solicit or collect data from children and we do not knowingly market to children online. We recognize that protecting children’s identities and online privacy is important and that responsibility rests with us and with parents.
7. Links to other Websites. Our website contains links to other sites. Please be aware that Fibre Federal Credit Union is not responsible for the privacy practices of such other sites. We encourage our users to be aware when they leave our site and to read the privacy statements of each and every website that collects personal information. This privacy statement applies solely to information collected by this website. Some of the links from our site will take you off the fibrecu.com site to a “co-branded” site where you will see the Fibre Federal logo as well as the logo of another service provider. The following links to sites are co-branded: MEMBERS Financial Network, Auto Solutions, Credit Union Direct Lending, and Verified by Visa. The service provider collects any information that you provide. You are encouraged to read the privacy statement of that provider. We also have links from fibrecu.com to “fully branded” service provider sites. As you view information on a fully branded site you will see a change in the URL but the pages appear as Fibre Federal Credit Union’s and the service provider is not identified. All information collected on fully branded sites is used by Fibre Federal Credit Union only and is not shared or used for any purpose other than providing you with the service you have requested. Fully branded sites include CUNA Financial Calculators.
8. Privacy Policy Inquiries. We reserve the right to amend this Privacy Policy at anytime. If you have any questions about our privacy practices, contact us by calling (360)423-8750, sending us an electronic communication from our Contact Us page or writing to us at: Fibre Federal Credit Union, P.O. Box 1234, Longview, WA 98632.
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