ALL ABOUT
Your Account
PRIVACY NOTICE
TERMS AND CONDITIONS
ELECTRONIC TRANSFERS
FUNDS AVAILABILITY
TRUTH IN SAVINGS­­
EASTMAN CREDIT UNION
Important Information About
Procedures for Opening a New Account
To help the government fight the funding of terrorism and money laundering activities,
federal law requires all financial institutions to obtain, verify, and record information
that identifies each person who opens an account. What this means for you: When you
open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or
other identifying documents.
Eastman Credit Union
ECU Financial Services, Inc.
Privacy Notice
Rev. 3/2012
FACTS
Why?
What?
WHAT DOES EASTMAN CREDIT UNION DO WITH
YOUR PERSONAL INFORMATION?
Financial companies choose how they share your personal
information. Federal law gives consumers the right to limit some
but not all sharing. Federal law also requires that we tell you
how we collect, share, and protect your personal information.
Please read this notice carefully to understand what we do.
The types of personal information that we collect and share depends on
the product or service you have with us. This information can include:
• Social Security Number and account transactions
• Account balances and payment history
• Transaction history and credit history
How?
When you are no longer our member, we continue to
share your information as described in this notice.
All financial companies need to share members’ personal
information to run their everyday business. In the section below,
we list the reasons financial companies can share their members’
personal information; the reasons Eastman Credit Union
chooses to share; and whether you can limit this sharing.
Reasons we can share your
personal information
Does Eastman
Can you limit
Credit Union
this sharing?
share?
For our everyday business purposes –
such as to process your transactions, maintain
your account(s), respond to court orders and legal
investigations, or report to credit bureaus.
For our marketing purposes –
to offer our products and services to you.
For joint marketing with other
financial companies.
For our affiliates’ everyday business purposes
– information about your transactions
and experiences.
For our affiliates’ everyday business purposes
– information about your creditworthiness.
For our affiliates to market to you.
For nonaffiliates to market to you.
Questions?
Yes
No
Yes
No
No
We don’t share
No
We don’t share
No
We don’t share
No
No
We don’t share
We don’t share
Call 800-999-2328 or go to www.ecu.org
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Who We Are
Who is providing this notice?
Eastman Credit Union and ECU
Financial Services, Inc. (ECUFS)
What We Do
How does Eastman Credit Union To protect your personal information from
protect my personal information? unauthorized access and use, we use security
measures that comply with federal law.
These measures include computer security
safeguards and secured files and buildings.
How does Eastman Credit Union We collect your personal information,
collect my personal information? for example, when you:
• Open an account or deposit money
• Pay your bills or apply for a loan
• Use your credit or debit card
We also collect your personal information
from other sources such as credit bureaus,
affiliates or other companies.
Why can’t I limit all sharing?
Federal law give you the right to limit only
• Sharing for affiliates’ everyday
business purposes – information
about your creditworthiness.
• Affiliates from using your
information to market to you.
• Sharing for nonaffiliates to market to you.
State laws and individual companies may
give you additional rights to limit sharing.
Definitions
Affiliates
Nonaffiliates
Joint marketing
Companies related to common ownership or control.
They can be financial and nonfinancial companies.
• Eastman Credit Union does not share your
personal information with our affiliates.
Companies not related by common ownership or control.
They can be financial and nonfinancial companies.
• Eastman Credit Union does not share your personal
information with non-affiliates to market to you.
A formal agreement between nonaffiliated financial companies
that together market financial products or services to you.
• Eastman Credit Union does not share member
information under any joint marketing agreements.
Other important information
Business Day throughout this document means any day other than Saturday,
Sunday, or holidays observed by ECU.
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PERSONAL AND BUSINESS ACCOUNT AGREEMENT
TERMS AND CONDITIONS
1.Agreement.
These terms govern the operation of your account(s) unless varied or supplemented
in writing. Unless it would be inconsistent, words and phrases used in this document
should be construed so that the singular includes the plural and the plural includes the
singular. As used in this form, the words “we”, “our”, or “us” mean Eastman Credit
Union (ECU) and the words “you” or “your” means the account owner and if there
are joint owners, all joint owners. By signing the General Agreement and Signature
Card you agree to be subject to and comply with the regulations, bylaws, policies,
(including changes thereto) of Eastman Credit Union. As used in this document,
the term “Agreement” means this document, the Signature Card, Truth In Savings
Disclosures, Rate and Fee Schedules, Funds Availability Disclosures, Electronic Funds
Transfer Agreements, and Cardholder Agreements, if applicable, including any supplements or addendums to the foregoing. In addition, your account is subject to and
governed by state and federal laws applicable to the credit union. Each of you signing
the Signature Card and opening or continuing to have an account with us agrees to
the terms in this Agreement, as amended from time to time. ACCOUNTS ARE NOT
TRANSFERABLE.
2. Eligibility for Membership.
To be eligible for membership in Eastman Credit Union you must be an individual or
entity qualifying within ECU’s field of membership, purchase and maintain one membership share in the credit union, and meet any other conditions set forth in the credit
union’s regulations, bylaws, and policies.
Members of the immediate families of credit union members and of persons eligible
for membership in the credit union are eligible for membership. Immediate family is
defined as (a) spouse, parents, spouse’s parents, step-parents, children, step-children,
grandchildren, brothers/sisters and their spouses, children of brothers/sisters, stepsiblings, grandparents, adoptive relationships, and household occupancy.
3. Ownership of Account and Beneficiary Designation.
These rules apply to your account(s) depending on the type of account ownership and
beneficiary designations, (if any), specified on the General Agreement & Signature
Card. You agree that when you establish a joint account, trust account, or custodial
account with us, you have instructed us as to the proper title of the account. We
assume no legal responsibility to inform you of how any account affects your legal,
financial or insurable interests. If you have any questions as to the legal, financial or
insurance effect to any account, you will consult with your own lawyer or advisor. You
bear the sole responsibility for the legal effect of the creation of your account or how it
is maintained by us.
a. Member As Sole Owner.
Account is owned by Member only. Funds remaining in the account(s) upon
Member’s death shall become a part of Member’s estate.
b. Joint Tenants With Right of Survivorship.
Member and Joint Owners (collectively referred to as “Joint Owners”) signing
this Agreement agree with each other and ECU that all sums now paid in on
this account(s) or ever paid in by any or all of the Joint Owners(s) to ECU with
all accumulated amounts, are and shall be owned by them jointly, with right of
survivorship and be subject to the withdrawal or receipt of any of them, and payment to any of them or the survivor(s) shall be valid and discharge ECU from any
liability for such payment. Joint Owners also agree to the terms and conditions
of the account as established by ECU from time to time.
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c. Payable on Death.
You retain during your lifetime the right to withdraw, assign, or pledge the balance of this account as though no death payee had been named and to delete
or change a designated death payee. The interest of a death payee shall be
deemed not to vest until the death of the owner, or, in the case of joint owners,
until the death of the last surviving owner, and such interest shall be subject to
any lien, assignment, pledge, right of offset or other claim which we could have
asserted against the owner. The interest of a death payee in the account vests
only if the payee survives the last surviving owner. Multiple death payees surviving the last surviving owner shall be entitled to equal shares of the account. No
change in the designation of a death payee shall be valid unless executed on a
form and in a manner prescribed by us and authorized by all account owners.
On the death of the last surviving owner, this account, or any part of or interest
on this account, will be paid to each surviving death payee in equal shares. The
receipt of all amounts in the account by the person(s) so paid shall release and
discharge us from liability to any person for such payment.
d. Consent of Spouse.
This paragraph applies only in community property states. Spouse consents to
the designations of beneficiary on the General Agreement & Signature Card and
hereby agrees to convert this account(s) into the separate property of Member
to be distributed following Member’s death. Spouse understands that by signing
this consent that current community/marital property rights in this account(s) and
community/marital property rights in any future contributions to this account(s)
will be forfeited, and further understands that this consent may not be revoked
in the future. However, this consent will be automatically revoked if Member
amends this designation of beneficiary during spouse’s lifetime.
e. Additional Authorized Signatory.
The person(s) named as Authorized Signatory has no ownership rights in the
account(s), but has the right to withdraw money from the account(s) until their
power as Authorized Signatory is revoked by any account owner or until the last
surviving account owner’s death. Funds remaining in the account(s) at the time
of death of the last account owner shall be distributed in accordance with the
account agreement.
f. Trust Accounts.
ECU may allow the opening of trust accounts, subject to certain rules and
conditions, including meeting ECU’s membership requirements. All Trustee(s)
have the same rights and responsibilities of an account owner and must be
members of ECU. All Settlor(s) (Trustor(s)) must be eligible for ECU membership. You (Trustee(s) and Settlor(s)) each agree to be bound by the terms of this
Agreement and to furnish, at ECU’s request, a copy of the written trust instrument
or such other documentation as ECU may require. You agree that ECU may act
upon the instructions of any one Trustee without knowledge or participation of
any other Trustees.
g. Estate Accounts.
An estate account is an account established on behalf of the estate of a deceased
person in which an entity or person acts on behalf of the estate. The account is
established under the name of the personal representative or executor after all
documentation required by ECU is furnished.
h. Representative Payee Accounts.
A representative payee account is established on behalf of a recipient
(“Beneficiary”) of benefits from the Social Security Administration (“SSA”) or
Supplemental Security Income (“SSI”) in which an entity or person, as designated by the SSA, acts on behalf of the recipient. The account is established
under the name of the Beneficiary who must also be the sole owner. While the
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Beneficiary retains ownership interest, the account must be established to restrict
him or her from direct access to the funds in the account.
The Beneficiary must be eligible for membership and is the primary member.
The representative payee is an authorized signer. The representative payee
agrees to be bound by the terms of this Agreement and to furnish ECU, at its
request, a copy of the written authorization designating the representative payee
and other documentation as ECU may require.
In opening a representative payee account, ECU acts only as a depository for
the Beneficiary’s SSA or SSI funds. ECU is under no obligation to act as a fiduciary or to inquire as to the powers or duties of the representative payee. The
representative payee agrees that he or she is liable to ECU for any obligations
incurred for any actions dealing with the account and agrees to indemnify and
hold ECU harmless from and against any and all loss, costs, damages, liabilities,
or exposure, including reasonable attorneys’ fees, that ECU may suffer or incur
arising out of or related to any action or claim by any party with respect to the
authority or actions taken by the representative payee in handling or dealing
with the account. Unless expressly stated to the contrary, all of the other terms
and conditions of the Membership and Account Agreements apply with equal
force to representative payee accounts.
i. Federal Fiduciary Accounts.
A federal fiduciary account is established on behalf of a recipient (“Beneficiary”)
of benefits from the Department of Veterans Affairs (“VA”) in which an entity or
person, as designated by the VA, acts on behalf of the recipient. The account is
established under the name of the Beneficiary who must also be the sole owner.
While the Beneficiary retains ownership interest, the account must be established
to restrict him or her from direct access to the funds in the account.
The Beneficiary must be eligible for membership and is the primary member.
The federal fiduciary is an authorized signer. The federal fiduciary agrees to be
bound by the terms of this Agreement and to furnish ECU, at its request, a copy of
the written authorization designating the federal fiduciary and other documentation as ECU may require.
In opening a federal fiduciary account, ECU acts only as a depository for the
Beneficiary’s VA benefits. ECU is under no obligation to act as a fiduciary or to
inquire as to the powers or duties of the federal fiduciary. The federal fiduciary
agrees that he or she is liable to ECU for any obligations incurred for any actions
dealing with the account and agrees to indemnify and hold ECU harmless from
and against any and all loss, costs, damages, liabilities, or exposure, including
reasonable attorneys’ fees, that ECU may suffer or incur arising out of or related
to any action or claim by any party with respect to the authority or actions taken
by the federal fiduciary in handling or dealing with the account. Unless expressly
stated to the contrary, all of the other terms and conditions of the Membership
and Account Agreements apply with equal force to federal fiduciary accounts.
j. Conservator Accounts.
A conservator account is established on behalf of a disabled person in which an
entity or person, as legally designated by the court, acts on behalf of the disabled
person. The account is established under the name of the disabled person and
the account must show the disabled person as the sole owner. The disabled
person must be eligible for membership and is the primary member. The conservator is an authorized signer. The conservator agrees to be bound by the terms
of this Agreement and to furnish, at ECU’s request, the Letters of Conservatorship
and such other documents or authorizations as ECU may require.
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In opening a conservator account, ECU acts only as a depository for the disabled
person’s funds. ECU is under no obligation to act as a fiduciary or to inquire as to
the powers or duties of the conservator. The conservator agrees that he or she is
liable to ECU for any obligations incurred for any actions dealing with the account
and agrees to indemnify and hold ECU harmless from and against any and all
loss, costs, damages, liabilities, or exposure, including reasonable attorneys’
fees, that ECU may suffer or incur arising out of or related to any action or claim
by any party with respect to the authority or actions taken by the conservator in
handling or dealing with the account. Unless expressly stated to the contrary, all
of the other terms and conditions of the Membership and Account Agreements
apply with equal force to conservator accounts.
k. Minor Accounts.
For any account established by or for a minor, ECU reserves the right to require
a parent or legal guardian appointed by the court (“Legal Guardian”) to be a
Joint Owner. The Legal Guardian shall be jointly and severally liable to ECU
for any returned item, overdraft, charges or amounts owing on the account
regardless of the minor’s rights regarding such contracts. You agree that ECU
has no duty to inquire as to the use or purpose of any transaction by a minor,
Legal Guardian, or any other Joint Owner of the account. ECU is not required to
change the account status when the minor reaches the age of majority, unless the
minor, Legal Guardian, and any other account owner(s) authorize us to do so in
writing at that time. Any custodial account established pursuant to the Uniform
Transfers to Minors Act will be governed by the provisions of Title 35, Chapter 7,
of the Tennessee Code Annotated as amended.
l. Business Accounts.
If the account is owned by a non-natural person (e.g. an entity such as a corporation, limited liability company, or unincorporated association, etc.), or by a sole
proprietor or partnership, the Account Owner(s) must provide ECU with satisfactory evidence of the authority of the individuals authorized to act on behalf of
the Account Owner(s). We will honor the authorization until we receive written
notice of a change in a form satisfactory to us. You agree that if we receive
conflicting instructions or a dispute arises as to control of the account, we may
place a hold on the Account(s) until such time that the dispute is resolved to our
satisfaction. You agree we will not be liable for dishonored items as a result of
any hold placed.
4. Provisions Applicable to Share and Special Accounts.
a. Members must subscribe to one or more share in Eastman Credit Union and
agree to maintain a minimum balance of $5.00 in a Share Account at all times.
b. Member may pledge all or any part of the Primary Share Account as collateral
security for a loan(s) from ECU.
c. Federal Regulation limits the number of “transfers” from a share type account to
six per month; transfers are defined in the Regulation D Disclosure.
d. Ownership designations established for the Primary Share Account will be the
same ownership(s) maintained for Christmas Club, Wellness, Net Pay, Mortgage
Payment and Stash Your Cash Accounts.
e. Checks will not be issued for Net Pay Accounts.
f. All new Share Accounts will be verified by ChexSystems.
g. Accounts with a zero balance that are inactive for a period of 90 days will be
closed.
5. Provisions Applicable to Insured Money Market.
a. Federal Regulation limits the number of “transfers” from a insured money
market account to six per month. Counted transfers include, but are not limited
to, transactions made at an automated teller machine (ATM) and transactions
made in person within a Credit Union branch.
b. Ownership on a insured money market account cannot be changed. If a member wished to remove a joint owner or authorized signer from a insured money
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market account, the account must be closed and a new insured money market
account opened.
c. Your account may be terminated without notice if this or any other share or
loan of the Member is not maintained in a manner which is satisfactory to the
Credit Union.
d. Accounts with a zero balance that are inactive for a period of 90 days will be
closed.
6. Provisions Applicable to Checking Accounts.
a. Only checks in a form approved by the Board of Directors of ECU will be honored
by ECU. Funds can otherwise be withdrawn from the checking account only by
means approved by the Board of Directors of the Credit Union.
b. ECU may pay a check on the day it is presented for payment, notwithstanding the
date (or any other limitation on time of payment) appearing on the check. ECU
is under no obligation to pay a check on which the date is more than six months
old. However, if you do not want us to pay a stale-dated check, you must place
a stop payment order on the check.
c. ECU shall not be liable for any loss or damage resulting from any action it takes or fails to take regarding the payment or nonpayment of a check except for
loss or damage resulting from the failure of the Credit Union to exercise ordinary
care. All checks shall be cleared through your account in order from the smallest
to largest dollar amount.
d. The checking account shall be subject to charges in accordance with the service
fee schedules adopted by the Board of Directors of the Credit Union and may be
subject to change from time to time.
e. Ownership on a checking account cannot be changed. If a member wishes
to remove a joint owner or authorized signer from a non-business checking
account, the account must be closed and a new checking account opened.
f. Your account may be terminated without notice if this or any other share or loan
of the Member is not maintained in a manner which is satisfactory to the Credit
Union.
g. Accounts with a zero balance that are inactive for a period of 90 days will be
closed.
h. Overdraft Payment Provisions. The Credit Union is under no obligation to pay
a check or automatic debit presented through Automated Clearing House (ACH)
process that exceeds the fully paid and collected share balance in this account.
However, if any person authorized to withdraw from this account writes a check
or automatic debit is presented through ACH that would exceed such balance,
Member may elect to have Credit Union pay the item and transfer shares to this
account from any of Member’s other qualified share accounts in an amount sufficient to cover the item. Additionally, Member may elect to have the Credit Union
pay the item by transferring from Member’s qualified line of credit in an amount
sufficient to cover this item. Any check or automatic debit through ACH presented
for payment which would require a transfer after six transfers, as described in
Regulation D, have been made in any one month shall be dishonored. If the
Credit Union dishonors an item because of excessive transfers under Regulation
D or if sufficient balances do not exist to cover an insufficient item, the Credit
Union will assess the Member an insufficient funds fee for each item presented
which must be returned to the financial institution of first deposit. For consumer
accounts, members in good standing may qualify for Overdraft Protection Plus
(ODPP). ODPP may allow your checks or automatic debits through ACH to be
paid up to a maximum of Five Hundred Dollars ($500.00). If we pay a check
or automatic debit through ACH using ODPP, an insufficient funds fee will be
assessed and may be deducted from the $500 limit thereby reducing the amount
available to pay checks and automatic debits through ACH. This service is a
courtesy and is not a promise to pay. ODPP does not increase your available
balance. As a result, you will not be able to receive POS debit card or ATM
transaction authorization even if you have overdraft availability. Paying an
item for you once does not guarantee future payments. If we pay an item as a
courtesy, you will be charged an insufficient funds fee. If funds in your account
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are unavailable to pay an item, an uncollected funds fee may apply whether we
decide to pay the item or return the item. In addition, when one-time Check
Card or ATM transactions are presented for payment they are not assessed the
insufficient funds fee. Recurring Check Card transactions will be assessed insufficient funds fees. The amounts of fees are subject to change in accordance with
the service fee schedules adopted by the Board of Directors of the Credit Union
from time to time.
An insufficient funds fee is assessed when an item is presented for payment and
the account balance is not sufficient to pay the item. We will assess an insufficient
funds fee whether we return an item or pay an item by using our courtesy pay
program, Overdraft Protection Plus (ODPP). An insufficient funds fee is $30 per
item whether returned or paid.
An uncollected funds fee is assessed when an item is presented for payment and
the account balance is sufficient to pay the item, but the funds are being held.
We will assess an insufficient funds fee whether we return an item or whether we
pay an item using our courtesy pay program, Overdraft Protection Plus (ODPP).
An uncollected funds fee is $30 per item whether returned or paid. If you elect
not to have our ODPP service, you may opt-out by submitting a request to us in
writing. You may send your request by mail to ECU, 201 S. Wilcox Dr., Kingsport,
TN 37662 or by email to memsvc@ecu.org.
A fee will be assessed for each item presented when funds are insufficient or
unavailable to pay the item. Therefore, you could receive multiple insufficient
funds fees or uncollected funds fees in a single business day.
Transactions may not be processed in the order in which they occurred.
Additionally, the order items appear on member statements may not reflect the
order they were processed in. The order in which transactions are received by the
Credit Union and processed can affect the total amount of insufficient funds fees
incurred by you. Should your account be overdrawn for sixty days, the account
will be closed. The overdraft amount is reported to ChexSystems to pursue collection efforts.
i. All new Checking Accounts will be verified by ChexSystems.
j. Due to the large volume of checks we receive, we have adopted automated
processing that prevents us from inspecting or looking for restrictive legends on every check. Examples of restrictive legends include without limitation; “Void
after 90 days,” “Paid in Full,” “Two Signatures Required” or similar statements.
We are not required to honor and are not responsible for taking action on any
restrictive legend you write. You agree we operate within reasonable banking
standards by using these automated processing systems.
k. If you use a facsimile or other mechanically reproduced signature (Facsimile),
you agree to accept sole responsibility for maintaining the security of such device
and accept the entire risk of its unauthorized use. You authorize us to charge
your account for any draft bearing such Facsimile regardless of how or by whom
the Facsimile may be affixed.
7.Deposits.
Any items, other than cash, accepted for deposit (including items drawn “on us”) will
be given provisional credit only until collection is final (and actual credit for deposits
of, or payable in, foreign currency will be at the exchange rate in effect on final collection in U.S. dollars).
Subject to any other limitations, dividends will be paid only on collected funds, unless
otherwise provided by law. We are not responsible for transactions initiated by mail
or outside depository until we actually record them. All transactions received after our
“daily cut-off time” on a business day we are open, or received on a day in which we
are not open for business will be treated and recorded as if initiated on the next following business day that we are open.
You authorize us to accept transfers, checks, drafts, and other items for collection
to your Account(s) if the item is to the order or payable to any one or more of you,
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whether or not the item is endorsed by you. You authorize us to supply missing
endorsements and warrant that all endorsements are valid. We may accept nonconforming endorsements but you will be responsible for any loss incurred in any
processing delay or for returning the item for payment.
You must endorse checks or drafts presented for deposit or collection in a specific area
on the back of the item. The endorsement must appear on the back within the first 1
½ inches from the left side of the item when looking at the item from the front.
We reserve the right to refuse any item, electronic funds transfers, wire, or other
deposit to your Account(s).
Unless we authorize you to do so, you may not deposit a substitute check unless it has
been processed by a bank or credit union in the collection process. If you present a
substitute check or provide us with an electronic representation of a substitute check
for deposit, you agree to reimburse us for any losses or expenses we pay or incur in
relation to the item not meeting applicable standards for substitute checks and/or
duplicate payments associated with the item.
8. Direct Deposits.
If, in connection with any item or direct deposit plan, we pay to you or deposit any
amount in this account which should have been returned to the Federal Government
for any reason, you authorize us to deduct the amount of our liability to the Federal
Government from this account or from any other account you have with us without
prior notice and at any time, except as prohibited by law. We may also use any other
legal remedy to recover the amount of our liability.
9.Dividends.
By law we are prohibited from guaranteeing the payment of dividends or guaranteeing that those payments will be at the contracted rate. We must base our payments
to you on the money we actually earn and that is available for distribution at the end
of a dividend period. The rate and method we use to calculate dividends may change
from time to time.
10.Withdrawals.
Any one of you who signs this Agreement may withdraw or transfer all or any part of
the account balance at any time on forms approved by us. Each of you authorizes each
person signing this Agreement to endorse any item payable to you for your order for
deposit to this account(s) or any other transaction with us. You agree that we shall
have no liability to you if we honor an item signed by only one authorized signatory
or if we allow withdrawals from an account on the request of only one authorized
signatory, regardless of whether we have been advised or otherwise have knowledge
that two or more signatures are required for withdrawals from your account. The fact
that we may honor withdrawal requests that overdraw the finally collected account balance does not obligate us to do so, unless required by law. Withdrawals will first be
made from collected funds, and we may, unless prohibited by law or our written policy,
refuse any withdrawal request against uncollected funds, even if our general practice
is to the contrary. We reserve the right to refuse any withdrawal or transfer request
that is attempted by any method not specifically permitted, that is for an amount less
than any minimum withdrawal requirement, or that exceeds any frequency limitation period. Even if we honor a nonconforming request, repeated abuse of the stated
limitations (if any) may eventually force us to close your account. We will use the date
a transaction is completed by us (as opposed to the date you initiate it) to apply the
frequency limitations. On dividend-bearing accounts other than Term Share Accounts,
we reserve the right to require at least sixty days written notice before any withdrawal
or transfer. Withdrawals from a Term Share Account prior to maturity or prior to the
expiration of any notice period may be restricted and may be subject to penalty.
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11. Identification Procedures.
We will require identification, subject to our standards and applicable regulations, for
person’s presenting a draft drawn against your account for payment over the counter. We may not cash the draft if the person does not comply with our identification
standards.
12. Stop Payments.
A stop payment order must be given in the manner required by law and must be
received in time to give us a reasonable opportunity to act on it. Additional limitations
on our obligation to stop payment are provided by law. A stop payment order must
precisely identify the number, date and amount of the item, and the payee. We will
honor a stop payment request by the person who signed the particular item, and, by
any other person, even though such other person did not sign the item, if such other
person has an equal or greater right to withdraw from this account than the person
who signed the item in question. You may not stop payment on drafts or checks governed by a separate agreement (for example, a check guaranty agreement).
13.Statements.
a. We will periodically send you statements of your account(s). You may request an
item from us and we will provide you a legible copy of the item within a reasonable time. Charges may apply for copies of some items.
b.You must exercise reasonable promptness in examining the statement to
determine whether any payment was not authorized because of an alteration
of an item or because a purported signature by you or on your behalf was not
authorized. If you discover an unauthorized payment, you must promptly notify
us of the relevant facts.
c. If you fail with respect to an item to comply with the duties imposed on you in
(b), you are precluded from asserting against us (1) your unauthorized signature
or alteration on the item, if we also prove that we suffered a loss by reason of
the failure; and (2) your unauthorized signature or alteration by the same
wrongdoer on any other item paid in good faith by us if the payment was made
before we received notice from you of the unauthorized signature or alteration
and after you have been afforded a reasonable period of time, not exceeding
thirty days, in which to examine the item or statement of account and notify us.
d. You must also notify us of any other problem (e.g. erroneous statement, missing
signature from an item, unauthorized endorsement on an item, etc.) within a
reasonable period of time, not exceeding thirty days. Your failure to do so will
preclude you from asserting the problem against us.
14. Amendments and Termination.
Rules regarding changes to dividends have been provided separately. From time to
time we may amend any term of the Agreement after giving you reasonable notice in
writing or by any other method permitted by law, including, in appropriate circumstances, posting notice in our building(s). We may also close your account(s) at any
time with reasonable notice to you and tender of the account balance personally or by
mail. Notice from us to any one of you is notice to all of you. Failure to comply with
any of the provisions of the Agreement may result in the closing of any or all accounts
with ECU either with or without prior notice.
15. Withdrawal from Membership.
Your failure to maintain a minimum balance of $5.00 in a share account for a period
of sixty days (60) days will result in ECU taking action to close your share and checking
accounts and may be deemed as your withdrawal from membership with the Credit
Union.
16.Liability.
Each of you agrees, (for yourself and the person and entity you represent if you sign
as a representative of another) to the terms of your account(s) and the schedule of
charges that may be imposed. You authorize us to deduct those charges as accrued
directly from the account balance. You also agree to pay additional reasonable
10
charges we may impose for services you request which are not contemplated by this
Agreement. Each of you also agrees to be jointly and severally liable for any account
deficit resulting from charges or overdrafts, whether caused by you or another authorized to withdraw from this account(s), and the costs we incur to collect the deficit
including, to the extent permitted by law, our reasonable attorneys’ fees. In addition,
each of you agrees that you will not use your account to engage in any illegal activities, including illegal internet gambling. If you use your account to engage in any
such illegal activities, you will nevertheless be liable for those activities. Further, you
agree to reimburse us for any losses we incur as a result of your actions. We reserve
the right to terminate or withdraw any product or service in the event your account is
used for any illegal activity. Each of you is required to reimburse us for any costs and/
or expenses that we may incur in enforcing this Agreement, including our reasonable
attorneys’ fees. If we employ legal counsel to collect a dishonored, refused, returned,
fraudulent, worthless and/or bad check (“Dishonored Check”) presented to us by any
of you, your agents, your spouse, and/or your issue, then each of you must pay our
reasonable attorneys’ fees, court costs, service of process fees, and other incidental
expenses incurred in enforcing our rights against you.
17. Lien and Set-Off.
To the extent that your deposit includes shares, you each agree that we may impress
and enforce a lien on your shares and dividends to the extent of any due and payable
loans, financial obligations, other charges, and/or attorneys’ fees that any of you with
ownership rights in this account may owe to us now or in the future. In the case of any
deposit, you each agree that we may (without prior notice and when permitted by law)
set off the funds in this account against any due and payable debt or any other charge
(including reasonable attorneys’ fees) that anyone with an ownership interest in this
account may owe us now or in the future. If the debt arises from a note, “any due
and payable debt” includes the total amount which we are entitled to demand payment under the terms of the note at the time we enforce our lien or set-off including
any balance the due date for which we properly accelerate under the note. This lien
or right of set-off does not apply to this account if (a) it is an Individual Retirement
Account or any other account that would lose special tax treatment under state or
federal law if given as security, or (b) the debt is created by a credit transaction under
a consumer credit card plan, or (c) the debtor’s right of withdrawal only arises in a
representative capacity, or (d) the lien or right of set off is otherwise prohibited under
state or federal law. We will not be liable for the dishonor of any item when the
dishonor occurs because we set off a debt against this account. You agree to hold us
harmless from any claim arising as a result of the exercise of our right of set-off.
18. Waiver of Notice.
You waive any rights that you may have to receive any notice of presentment and/or
notice of dishonor in relation to your account and/or any check, draft, and/or instrument presented by you for payment by us.
19. Effect of Amendments.
Any changes, modifications, amendments, and/or revisions (“Amendments”) to this
agreement shall be effective as to and be enforceable in relation to any account created and/or any check, draft, loan, note, and/or instrument executed prior to, upon,
and/or after the date of the Amendment.
20. Applicable Law.
This Agreement is subject to applicable federal laws and shall be governed by and construed in accordance with the laws of the State of Tennessee (without regard to choice of
law principles). This Agreement has been accepted by us in the State of Tennessee and
your account(s) are located in the state of Tennessee. We are subject to federal, state
and association rules and/or laws regarding accounts covered by the Agreement except
to the extent this agreement can and does modify such rules or laws.
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Cardholder Agreement for Personal Accounts
As an Eastman Credit Union (ECU) member and checking account holder, you may
apply for an ATM Card, Visa® Check Card or Visa® Credit Card (collectively “Card”),
or account access by phone (ECU PhoneLink). If granted a Card or ECU PhoneLink,
you will maintain a Personal Identification Number (PIN). Use of your Card or the
PIN will constitute agreement to the following terms and conditions:
a. Card and PIN are for your use only. You assume responsibility for all transactions made with your Card and PIN.
b. Card privileges are subject to cancellation at any time. The Card is the property of ECU and must be returned to ECU upon request or may be cancelled or
impounded by ECU. You may cancel your Card by notification to ECU in writing
and physically surrendering the Card.
c. You should not keep your PIN with or near your Card. You should never reveal
or make available your PIN to another person. If you give your Card and/or PIN
to any other person, you will be responsible for all transactions made by that
person. Until you notify ECU in writing to the contrary, use of the Card and/or
the PIN by that person shall be an authorized use.
d. If you fail to maintain the security of your Card and/or PIN and ECU suffers a loss,
we may terminate your Card services immediately.
e. Any theft or loss of the Card should be immediately reported to ECU by calling
1-800-999-2328 or 423-229-8200. After business hours or on weekends, please
call 1-800-453-4270.
f. The use of your Card and/or PIN is subject to regulations governing your checking account, share account, and line-of-credit.
g. You agree to not withdraw funds in excess of the balance in your accounts or the
amount available in your line-of-credit.
h. All transactions are credited subject to verification and final payment in cash.
i. If this card accesses a Health Savings Account (HSA), all withdrawals made with
this card as a credit or debit will be reported to the IRS as normal distributions.
If you incur a charge in foreign currency, it will be billed to your account in U.S.
Dollars. The exchange rate between the transaction currency and the billing currency
used for processing international transactions is a rate selected by Visa® from the
range of rates available in wholesale currency markets for the applicable central
processing date, which rate may vary from the rate Visa® itself receives or the
government-mandated rate in effect for the applicable central processing date. You
will also be assessed an International Service Assessment fee (ISA fee) by Visa®. This
fee is imposed by Visa® operating regulations for international transactions. The
ISA fee may be either a 0.8% currency exchange fee for single currency transactions
(transactions made internationally without a currency conversion) or a 1% currency
exchange fee for multi-currency international transactions (transactions made internationally that require a currency conversion.) The ISA fee is added to the amount of
the purchase, cash advance, or credit and is retained by Visa®. This fee will post to
your account as a separate transaction. Please note that a credit to your account for
a foreign transaction may not fully offset the original charge due to changes in the
exchange rate; therefore, you will be responsible for the difference.
Nothing in this agreement shall be deemed to annul, limit, or in any other way modify
any other obligation or relationship you may now or hereafter have with ECU.
ELECTRONIC FUND TRANSFERS
Your Rights and Responsibilities
Tell ECU immediately if you believe your card or PIN has been lost or stolen, or if you
believe that an electronic fund transfer has been made without your permission using
information from your checking account. 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 notify ECU within 2 business days after you learn
12
of the loss or theft of your card or PIN, you can lose no more than $50 if someone
used your card or PIN without your permission. If you do NOT tell ECU within 2 business days after you learn of the loss or theft of your card or PIN, and ECU determines
it could have stopped someone from using your card or PIN 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, including those made by
card, PIN, or other means, notify ECU at once. If you do not notify ECU within 60 days
after the statement was mailed to you, you may not get back any money you lost after
the 60 days if ECU determines it 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 notifying us, ECU may extend the time periods.
To report a lost or stolen card during regular work hours, please call 1-800-999-2328
or (423)229-8200. After work hours and weekends, please call 1-800-453-4270.
You may also write us at: ECU Card Services P.O. Box 1989, Kingsport, TN 37662.
You should also call the number or write to the address listed above if you believe a
transfer has been made using the information from your checking account without
your permission.
For purposes of these disclosures, ECU’s business days are Monday through Friday.
Holidays on which ECU is closed are not included.
You may use your card or PIN to:
1. Withdraw cash from your checking or savings account or from your line of credit.
2. Make deposits to your checking or savings account.
3. Transfer funds between your checking and savings accounts whenever you
request.
4. Obtain account balance information.
5. Pay for purchases at places that have agreed to accept the card or PIN. Some of
these services may not be available at all terminals.
6. Pay bills directly by telephone from your checking account in the amounts and
on the days you request.
Electronic Check Conversion
You may authorize a merchant or other payee to make a one-time electronic payment
from your checking account using information from your check to pay for purchases or
to pay your bills.
Limitations on Frequency of Transfers
There are no limits on the number of cash withdrawals or fund transfers you may
make from ECU’s ATM terminals. There are also no limits on the number of point-ofsale transactions you may make. However, Federal regulations limit the number of
transfers you may make by telephone or online from your share (savings) accounts.
Limitations on Dollar Amounts of Transfers
You are limited to a total of $500 each day in withdrawals from ATM terminals or in
using your card to purchase goods or services in point-of sale (PIN based) transactions.
Signature based transactions may be completed for any amount up to your account
balance.
Fees
When you use an ATM that is not owned by ECU, you may be charged a fee by the
ATM operator or any network used. You may also be charged a fee for a balance
inquiry even if you do not complete a fund withdrawal or transfer.
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Confidentiality
ECU will disclose information to third parties about your account or the transfers you
make:
a. Where it is necessary for completing transfers, or
b. In order to verify the existence and condition of your account for a third party,
such as a credit bureau or merchant, or
c. In order to comply with subpoenas or other legal process, or
d. If you give us your written permission.
Documentation
You can get a receipt at the time you make any transfer to or from your account using
an ECU ATM.
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, the person or company making the deposit
will tell you every time they send us the money. You can call ECU at 1-800-999-2328
to find out whether or not the deposit has been made.
Periodic Statements
You will get a monthly account statement.
Preauthorized Payments
a. You have the right to stop payment on preauthorized transfers from your
account. To stop a preauthorized payment, call ECU at 1-800-999-2328, or
write to ECU Card Services P.O. Box 1989, Kingsport, TN 37662 in time for ECU
to receive your request 3 business days or more before the payment is scheduled
to be made. If you call, ECU may also require you to put your request in writing
and deliver it within 14 days after you call. ECU will charge you a fee for each
stop-payment order you give. If you order ECU to stop a preauthorized payment
3 business days or more before the transfer is scheduled, and it fails to do so,
ECU will be liable for your losses or damages. Refer to fee schedule for current
stop payment fee amounts.
b. If your preauthorized payments vary in amount, the person you are going to pay
will tell you, at least 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.
Credit Union Liability
If ECU does not complete a transfer to or from your account on time or in the correct
amount according to its agreement with you, ECU will be liable for your losses or damages. However, there are some exceptions, including:
a. If, through no fault of ECU, you do not have enough money in your account to
make the transfer; or
b. If the transfer would go over the credit limit on your overdraft line of credit; or
c. If the ATM where you are making the transfer contains insufficient cash to make
the transfer; or
d. If the terminal or system was not working properly and you knew about the
breakdown when you started the transfer; or
e. If circumstances beyond ECU’s control (such as fire or flood) prevent the transfer,
despite reasonable precautions that ECU has taken.
Error Resolution
In case of errors or questions about your electronic transfers, telephone Fidelity Card
Services at 1-800-600-5249 or fax 1-866-451-6263. You may write to Fidelity Card
Services at P.O. Box 30945 Tampa, FL 33630-3495. If you prefer to contact ECU
directly, you may call 1-800-999-2328 or e-mail at ecenter@ecu.org. You must contact Fidelity or ECU 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 your statement or receipt.
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ECU must hear from you no later than 60 days after it sent the FIRST statement on
which the problem or error appeared. When you contact Fidelity or ECU:
a. Give your name and account number (if any);
b. 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; and
c. Disclose the dollar amount of the suspected error.
If you notify Fidelity or ECU orally, you may be required to send your complaint or
question in writing within 10 business days.
ECU will determine whether an error occurred within 10 business days after your notification of a suspected error and it will correct any error promptly. If ECU needs more
time, however, it may take up to 45 days to investigate your complaint or question.
If ECU decides to increase the investigation time, your account will be credited 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 ECU to complete its investigation. If ECU asks you
to put your complaint or question in writing and it is not received within 10 business
days, it may not credit your account.
For errors involving new accounts, point-of-sale, or foreign-initiated transactions, ECU
may take up to 90 days to investigate your complaint or question. For new accounts,
it may take up to 20 business days to credit your account for the amount you think is
in error.
ECU will tell you the results within three business days after completing its investigation. If ECU determines that there was no error, you will receive a written explanation.
You may ask for copies of the documents that ECU used in its investigation.
ECU PhoneLink
You may access your account by telephone 24 hours a day at 423-229-6767 or 1-800999-2328. Using a touch tone telephone, your member number, PIN, and your
account numbers, you may obtain information about your accounts, or make transfers
or withdrawals. Please also see Limitations on Frequency of Transfers section regarding limitations that apply to telephone transfers.
ECU Online ™
You may access your account through ECU’s Online Banking service 24 hours a day, 7
days a week at www.ecu.org. Access may be obtained to Online Banking using your
member number and PIN. Please also see Limitations on Frequency of Transfers section regarding limitations that apply to online transfers.
ATM Transactions
All cards may be used at ATMs displaying the STAR® or Cirrus® network logos. In
addition, debit cards may be used at ATMs displaying the Allpoint® network logo.
You may access your accounts to:
a. Withdraw cash from your share account, checking account, and line-of-credit;
b. Transfer funds between your share account, and checking account; and
c. Obtain balance inquiries on your share account, checking account and line-ofcredit.
Your aggregate amount of withdrawals per day from ATMs and/or point-of-sale (PIN
based) terminals (see below) may not exceed $500.00. Some of these services may not
be available at all terminals.
Point of Sale (POS)
You may use your Card and PIN to pay for purchases or services from merchants
who have agreed to accept the Card at STAR® merchant terminals or such other
point-of–sale (PIN based) terminals as ECU may designate. Your aggregate amount
of withdrawals per day from ATMs and/or point-of-sale (PIN based) terminals (see
above) may not exceed $500.00.
15
Non-Visa® Debit Transactions
ECU utilizes the STAR® network to process a portion of its Visa® Check Card or
Visa® Debit Card transactions. Through the STAR® network, ECU cardholders may
also use their Visa® check card or debit card to make non-Visa® debit transactions. Such transactions do not have to be authenticated by a PIN and are commonly
referred to as PIN-less transactions.
PIN-less transactions through the STAR® network may be initiated by a cardholder
through direct payment to a merchant or creditor, such as by telephone VRU, an internet site, inbound customer service, or at kiosk locations. Participating merchants or
creditors must display the STAR® logo. Because STAR® PIN-less transactions are not
authenticated with a PIN, the merchant or creditor must authenticate the customer’s
identity according to known information derived from an existing relationship.
These PIN-less debit transactions are not processed through the Visa® network and
do not offer the additional liability protection offered through Visa®. Provisions of
your Cardholder agreement that relate only to Visa® transactions are inapplicable to
PIN-less non-Visa® transactions. However, your PIN-less transactions continue to be
covered by the liability limits set by federal law.
Please note that to initiate a Visa® debit transaction at the point of sale, the
cardholder signs a receipt, provides a card number (ex. mail or telephone orders) or
swipes the card through a point-of-sale terminal. In addition, to initiate a Visa®
debit transaction, the merchant or creditor must have an agreement with Visa®.
Visa® Check Card
You may use your Card and PIN or Signature to pay for purchases or services at
merchants displaying the Visa® logo. Funds to cover your Card purchases will be
withdrawn from your checking account. You further agree that the use of your Card
with any merchant, whether or not you have signed any sales authorization, will initiate a withdrawal from and/or demand on your account. ECU may refuse to honor any
transaction for which you do not have sufficient available verified funds.
ELECTRONIC FUNDS TRANSFER AGREEMENT
AND DISCLOSURE FOR BUSINESS ACCOUNTS
Cardholder Agreement – Business Accounts
Definitions - As used in this Agreement, the words “we”, “our” and “us” refer to
Eastman Credit Union. The words “you”, “your”, and “yourself” refer to the Account
Owner of the account for which electronic fund transactions and transactions involving
the use of a Visa® Business Check Card, cash card and/or ECU PhoneLink are permitted. The words “Card” and “Cards” refer to a Visa® Business Check Card or any other
ATM/cash card issued by us. The words “Cardholder” and “Cardholders” refer to any
and all authorized signatories (i.e., signers) for your account who are issued a Card. The
phrases “authorized signatory” and “authorized signatories” refer to any and all
natural persons who are listed on the signature card for the account, your resolutions, banking agreements, certificates of authority and/or any other document(s) presented to you by us as being authorized to use your account and/or to otherwise act on
your behalf. Unless inconsistent, words in this agreement shall be construed so that the
singular includes the plural and the plural includes the singular. The word “Business
Day” means any day other than Saturday, Sunday, or holidays observed by us.
Cardholder Eligibility - As an Eastman Credit Union (“ECU”) member, you, your
authorized representative(s), and your authorized signatories may apply for a Card
and ECU PhoneLink privileges. If granted these privileges, Cardholders will maintain
a Personal Identification Number (“PIN”) and a Card. You must notify us in writing
if the privileges of any of the authorized signatories on your account are modified,
changed, amended or revoked. Until our receipt of such notice, all authorized signato16
ries may use the Card and the ECU PhoneLink privileges for your account.
Terms & Conditions - Use of the Card and/or the PIN will constitute agreement
by you and all of the Cardholders to the following terms and conditions: We will issue
Cards to your authorized signatories upon request. Each Card will identify you as well
as the Cardholder and will allow access to your accounts including your business checking account. You agree to provide the Cardholders with a copy of this Agreement.
The Cards and PINs are for your business use only. You are solely responsible for
assuring the account and all Cards are used only for your business purposes. You and
the Cardholders understand that the Cards shall not be treated as a consumer card
under federal or state law. You assume responsibility for all transactions made with
issued Cards and PINs. You are liable for the payment of Card transactions authorized
by you or your agent or a Cardholder or his/her agent.
Card privileges are subject to cancellation at any time. The Card is the property of
ECU and must be returned to ECU upon request or may be impounded automatically.
You may cancel Card privileges and ECU PhoneLink privileges for yourself and/or any
other Cardholder by providing written notification to us and physically surrendering
the Card to us. Before canceling the Card privileges for any Cardholder, you must
present us with written documentation (or you must have previously presented us with
written documentation) satisfactory to us that the person canceling these privileges on
your behalf and as your agent is authorized to do so. You agree to notify us immediately when you terminate a Cardholder’s rights and promptly return the Card to us. A
Cardholder may also cancel his/her Card privileges and ECU PhoneLink privileges for
himself/herself by providing written notification to us and physically surrendering the
Card to us.
No one should keep the PIN with or near the Card. No one should reveal or make
available a PIN to another person. If a Cardholder gives his/her Card and/or PIN to
any other person, you will be responsible for all transactions made by that person.
Until we receive notice from you in writing to the contrary, use of the Card and/or the
PIN by that person shall be an authorized use. If you or any of the Cardholders fail to
maintain the security of the Card and/or PIN and we suffer a loss, we may immediately
terminate the Card services for your account.
Any theft or loss of the Card should be immediately reported. You may be held liable
for losses that result from your unreasonable or negligent failure to notify us promptly
of a lost or stolen card. The use of the Cards and/or the PINs is subject to regulations
governing your checking account, share account, and line-of-credit. You and the
Cardholders agree not to withdraw funds in excess of the balance in your accounts or
the amount available in your line-of-credit. All transactions are credited subject to
verification and final payment in cash.
If you incur a charge in foreign currency, it will be billed to your account in U.S.
Dollars. The exchange rate between the transaction currency and the billing currency
used for processing international transactions is a rate selected by Visa® from the
range of rates available in wholesale currency markets for the applicable central
processing date, which rate may vary from the rate Visa® itself receives or the
government-mandated rate in effect for the applicable central processing date. You
will also be assessed an International Service Assessment fee (ISA fee) by Visa®. This
fee is imposed by Visa® operating regulations for international transactions.
The ISA fee may be either a 0.8% currency exchange fee for single currency transactions (transactions made internationally without a currency conversion) or a 1%
currency exchange fee for multi-currency international transactions (transactions
made internationally that require a currency conversion.) The ISA fee is added to
the amount of the purchase, cash advance, or credit and is retained by Visa®. This
fee will post to your account as a separate transaction. Please note that a credit to
your account for a foreign transaction may not fully offset the original charge due to
17
changes in the exchange rate; therefore, you will be responsible for the difference.
Nothing in this agreement shall be deemed to annul, limit, or in any other way
modify any other obligation or relationship you and/ or the Cardholders may now or
hereafter have with us. If any of the provisions of this Agreement require us to rely
upon written, electronic and/or oral information, notices, disclosures, resolutions and/
or documentation provided to us (collectively, “Information”), then we are authorized to
rely upon such Information and to implement revisions, changes, amendments, modifications, and/or alterations in reliance upon such Information so long as we receive
such Information from your authorized representative(s). As used in this Agreement,
“authorized representative(s)” includes, without limitation, the following: your authorized signatories, your President, your Board Chairperson, your Chief Executive Officer,
your Chief Financial Officer, your Vice President, your Corporate Secretary, your
Treasurer, your Chief Manager, your General Partner, your Member, your Owner, your
Business Manager, your Office Manager, or your Executive Director.
ELECTRONIC FUND TRANSFERS
Your Rights and Responsibilities for Business Accounts
Except as otherwise provided herein, the defined terms contained in the section entitled Cardholder Agreement – Business Accounts (“Cardholder Section”) have the same
meaning when used in this Section as in the Cardholder Section. Notwithstanding the
foregoing, the words “you”, “your”, and “yourself”, as used in this Section, refer to the
Account Owner of the account and all of the authorized signatories on the account.
Cardholder Agreement – Business Accounts (“Cardholder Section”) have the
same meaning when used in this Section as in the Cardholder Section. Notwithstanding
the foregoing, the words “you”, “your”, and “yourself”, as used in this Section, refer to
the Account Owner of the account and all of the authorized signatories on the account.
The Electronic Fund Transfers (“EFT”) that we are capable of handling are indicated
below. Some of these transfers may not apply to your account. Please read this
disclosure carefully because it indicates your rights and obligations for these transactions.
You should keep this notification for future reference.
Direct Deposits - You may make arrangements for certain direct deposits to be
accepted into your share or checking account.
Preauthorized Withdrawals - You may make arrangements to pay certain
recurring bills from your checking account. You may authorize a third party to debit
your account. You may initiate these payments through any bill payment service
made available through ECU Online™. Please also see Limitations on Frequency of
Transfers section regarding limitations that apply.
ECU Phonelink - You may access your account by telephone 24 hours a day at 423229-6767 or 1-800-999-2328. Using a touch tone telephone, your member number, PIN,
and your account numbers, you may obtain information about your accounts, or make
transfers or withdrawals. Please also see Limitations on Frequency of Transfers section
regarding limitations that apply to telephone transfers.
ECU Online™ - You may access your account via the Internet 24 hours a day, 7
days a week at www.ecu.org. Access may be obtained to ECU Online™ using your
member number and PIN. Please also see Limitations on Frequency of Transfers section regarding limitations that apply.
ATM Transactions - All cards may be used at ATMs displaying the STAR® or
Cirrus® network logos. In addition, debit cards may be used at ATMs displaying the
Allpoint® network logo. You may access your accounts to:
• Withdraw cash from your share account, checking account, and line-of-credit.
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• Transfer funds between your share and checking account.
• Obtain balance inquiries on your share account, checking account, and lineof-credit.
• Your aggregate amount of transactions per day from ATMs and/or POS terminals
(see below) may not exceed $1,000.00.
Some of these services may not be available at all terminals.
Point of Sale (POS) - You may use your Card and PIN to pay for purchases (in
person) or pay for services (in person) from merchants who have agreed to accept the
Card at STAR® merchant terminals or such other POS terminals as we may designate.
Your aggregate amount of transactions per day from POS terminals and/or ATMs (see
above) may not exceed $1,000.00.
Visa® Business Check Card - You may use your Card to pay for purchases or
services at merchants displaying the Visa® logo. Funds to cover Card purchases will
be withdrawn from your checking account. You further agree that the use of your Card
with any merchant, whether or not you have signed any sales authorization, will initiate a
withdrawal from and/or demand on your account. We may refuse to honor any
transaction for which you do not have sufficient available verified funds.
If you pay for something with a check you may authorize the check to be converted to
an electronic fund transfer. You may also authorize merchants to electronically debit
your account for returned check fees. You authorize the electronic transaction through
the merchant, either expressly in writing or implicitly if the authorization is posted on
a sign by the merchant indicating that the conversion will occur.
Limitations on Frequency of Transfers - In addition to those
limitations on transfers elsewhere described, if any, the following limitations apply:
• Transfers from a share account to another account, or to third parties by preauthorized, automatic (overdraft protection), telephone or ECU Online™ transfers
are limited to six per month. You may not make transfers from these accounts
by check, POS purchases, Visa® Business Check Card purchases, or similar order
to third parties.
Charges for Electronic Funds Transfers
• We do not charge for direct deposits to any type of account.
• We do not charge for preauthorized withdrawals from any type of account.
• Automated Teller Machines (“ATMs”) - There are no charges for use of our ATMs.
• If the ATM is not owned by ECU, the owner of the ATM may impose a surcharge
for its use.
• Except as indicated elsewhere, we do not charge for electronic fund transfers.
Right to Documentation
Terminal Transfers - You can get a receipt at the time you make any transfer to
or from your account using one of our ATMs or POS terminals.
Direct Deposits - You can call us at 423-229-8200 or 1-800-999-2328 to find out
whether or not the deposit has been made.
Periodic Statements - All accounts which are accessible by EFT will receive
monthly statements.
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Right to Stop Payment and Procedure for Doing So - If you have told us
in advance to make regular payments out of your account, you can stop any of these
payments. Here is how: Call or write us at the telephone number or address listed in this
information in time for us to receive the request three business days or more before
the payment is scheduled to be made. If you call, we may also require that the request
be made in writing and provided to us within 14 days after the call. We will charge
you a fee for each stop payment order that you give.
Limitation on our Liability - We will NOT be liable, for instance, if:
• you do not have enough money in your account to make the transfer
• the transfer would go over the credit limit on your overdraft line
• the automated teller machine that you are using does not have enough cash
• the terminal or system was not working properly
• circumstances beyond our control (such as fire or flood) prevent the transfer
• a merchant refuses to accept your Card
• there may be other limitations on our liability
Disclosure of Account Information to Third Parties - We will disclose
information to third parties about your account or the transfers you make:
• Where it is necessary for completing transfers;
• In order to verify the existence and condition of your account for a third party;
such as a credit bureau or merchant;
• In order to comply with government agency or court orders; or
• If you give us written permission.
Unauthorized Transfers - Tell us AT ONCE if you believe that a Card and/or PIN
has been lost or stolen. Telephoning is the best way of keeping your possible losses
down. You could lose all of the money in your account (plus your maximum overdraft
line of credit). If a Card or PIN is lost, stolen, or used without your permission, you
agree to notify us immediately and to promptly confirm such notice in writing. Call or
write us at the telephone number or address listed in this information. You may be
held liable for losses that result from your unreasonable or negligent failure to notify
us promptly of a lost or stolen card.
Also, if your statement shows transfers that you did not make, tell us at once. If you do
not tell us within 30 days (60 days for Visa® Business Check Card transactions) after
the statement was mailed or made available to you, we will be entitled to treat the
statement information as correct. If you believe that a Card and/or PIN has been lost
or stolen or that someone has transferred or may transfer money from your account
without your permission, call or write us at the telephone number or address listed in
this information.
Error Resolution - In case of errors or questions about your electronic transfers,
call or write us at the telephone number or address listed in this information, as soon
as possible. 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 30 days (60 days for Visa® Business Check Card transactions) after we sent
the FIRST statement on which the problem or error appeared. If you do not contact
us within 30 days (60 days for Visa® Business Check Card transactions), we will be
entitled to treat the statement information as correct. If you do contact us, then:
• Tell us the name of the Account Owner and account number.
• Tell us the name and position of the person to whom we are speaking.
• 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.
• Tell us the dollar amount of the suspected error.
If you tell us orally, we may require that you send us the complaint or question in
writing within 10 business days. We will investigate the matter and notify you of the
results as soon as reasonably possible under the circumstances. We will tell you the
results of our investigation for any Visa® Business Check Card transactions within 5
20
business days. If we decide there was no error, we will send you a written explanation
after we finish our investigation. You may ask for copies of the documents that we
used in our investigation.
For Visa® Business Check Card or Visa® Business Credit Card
please contact the following:
Fidelity Card Services
P.O. Box 30945
Tampa, FL 33630-3495
Phone: 1-800-600-5249
Fax: 1-866-451-6263
If you prefer to contact ECU directly, you may call 1-800-999-2328
or email at ecenter@ecu.org.
For all other electronic activity please contact ECU at:
Eastman Credit Union
P.O. Box 1989
Kingsport, TN 37662
Phone: 423-229-8200 or 1-800-999-2328 ­­­­­
UCC Article 4A Disclosure
Disclosures Regarding Electronic “Wholesale Credit” Transactions
Subject to Uniform Commercial Code Article 4A
Provisional Payment: Credit given by us to you with respect to an automated
clearing house credit entry is provisional until we receive final settlement for such
entry through a Federal Reserve Bank. If we do not receive such final settlement, you
are hereby notified and agree that we are entitled to a refund of the amount credited
to you in connection with such entry, and the party making payment to you via such
entry (i.e. the originator of the entry) shall not be deemed to have paid you in the
amount of such entry.
Notice of Receipt of Entry: Under the operating rules of the National
Automated Clearing House Association (NACHA), which are applicable to ACH transactions involving your account, we are not required to give next day notice to you of
receipt of an ACH item and we will not do so. However, we will continue to notify you
of the receipt of payments in the periodic statement we provide to you.
Choice of Law: We may accept on your behalf payments to your account which
have been transmitted through one or more Automated Clearing Houses (ACH)
and which are not subject to the Electronic Fund Transfer Act and your rights and
obligations with respect to such payments shall be construed in accordance with and
governed by the laws of the State of Tennessee.
Your Ability To Withdraw Funds
Our policy is to make funds from your cash and check deposits available to you on the
first business day after the day 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. If you make a deposit during business hours,
we will consider that day to be the day of your deposit. However, if you make a deposit
after we are closed, we will consider that the deposit was made on the next business
day we are open.
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Cash or check deposits may be made available on the same day we receive your deposit
in the case of established accounts or in our sole discretion on a case by case basis.
Longer Delays May Apply
In some cases, we will not make all of the funds that you deposit by check available to
you on the first business day after the day of your deposit. Depending on the type of
check that you deposit, funds may not be available until the second business day after
the day of your deposit. The first $200 of your deposits, however, may be available on
the first business day.
If we are not going to make all of the funds from your deposit available on the first
business day after the day of your deposit, 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 the funds from a deposit right away, you should ask us when the funds
will be available.
In addition, funds you deposit by check may be delayed for a longer period under the
following circumstances:
• We believe a check you deposit will not be paid.
• You deposit checks totaling more than $5,000 on any one day.
• You redeposit a check that has been returned unpaid.
• You have overdrawn your account repeatedly in the last six months.
• There is an emergency, such as failure of computer or communications equipment.
We will notify you if we delay your ability to withdraw funds for any of these reasons,
and we will tell you when the funds will be available. They will generally be available
no later than the seventh business day after the day of your deposit.
International ACH Transactions (IAT)
Receivers of Automated Clearing House (ACH) transactions should be aware that
their Receiving Depository Financial Institution (RDFI) may, from time to time, need
to temporarily suspend processing of a transaction for greater scrutiny or verification
against the Specially Designated Nationals (SDN) list, and that this action may affect
settlement and/or availability.
Special Rules for New Accounts
If you are a new customer, the following special rules will apply during the first 30
days your account is open.
Funds from electronic direct deposits to your account will be available on the day we
receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,000
of a days total deposits of cashier’s, certified, teller’s, traveler’s, and federal, state
and local government checks will be available on the first business day after the day
of your deposit if the deposit meets certain conditions. For example, the checks must
be payable to you. The excess over $5000 will be available on the ninth business
day after the day of your deposit. If your deposit of these checks (other than a U.S.
Treasury check) is not made in person to one of our employees, the first $5,000 will
not be available until the second business day after the day of your deposit.
22
Funds from all other check deposits will be available on the sixth business day after
the day of your deposit.
Funds from deposits may be made available sooner than stated in our sole discretion
on a case by case basis.
TRUTH-IN-SAVINGS DISCLOSURE
REGULAR SHARE ACCOUNT
Rate Information - The dividend rate and annual percentage yield may change at
any time, as determined by the credit union board of directors.
Compounding and crediting - Dividends will be compounded and credited
monthly.
Dividend period - For this account type, the dividend period is monthly; for
example, the beginning date of the first dividend period is January 1, and the ending
date of such dividend period is January 31. All other dividend periods follow this
same pattern of dates. The dividend declaration date is the last day of the dividend
period, and for the example above is January 31.
Minimum balance requirements - The minimum required to open this
account is the purchase of a share in the credit union. Please see the bylaw requirements
in the Common Features section for additional information.
Daily balance computation method - Dividends are calculated by the daily
balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of dividends on non-cash deposits - Dividends will begin to accrue
on the business day you place non-cash items (for example, checks) to your account.
Transaction limitations - Regulation D of the Federal Reserve controls the
Reserve requirements of Depository Institutions. Transactions through this account are
governed by Regulation D and limit this account to no more than six transactions per
calendar month. All six transfers may be made by any one of the following methods;
check, draft, debit card, if applicable, or similar order to a third party or by any combination of these methods.
What Transactions Must Be Counted?
1. ECU PhoneLink transfers from this account to another account (including a
transaction account) of the depositor at the same institution.
2. Transfers requested by telephone from this account to other deposit accounts.
3. Automatic transfers from this account to provide overdraft protection.
4. Preauthorized transfers from this account to third parties (such as insurance or
utilities electronic deductions).
5. Home Banking transfers from this account to other deposit accounts.
After six of these transactions have occurred in the account within a calendar month,
no more will be permitted for the remainder of the month.
“Walk-in” transactions handled by a Credit Union teller, and transactions processed
through an automated teller machine (ATM) are not countable transactions for
Regulation D purposes. There is no limit at ECU for withdrawals or transfers using
these two methods, except as limited by the account agreement.
23
IMMA ADVANTAGE
Rate Information - The dividend and annual percentage yield may change at any
time. Rate changes will be at the discretion of Eastman Credit Union. This account is
a Tiered Rate account. For tiers and corresponding rates, refer to ECU deposit account
rate sheet. Once a particular balance range is met, the dividend rate and annual percentage yield listed for the balance range will apply to the full balance.
Compounding and crediting frequency - Dividends will be
compounded and credited monthly.
Dividend period - For this account type, the dividend period is monthly; for
example, the beginning date of the first dividend period is January 1, and the ending
date of such dividend period is January 31. All other dividend periods follow this same
pattern of dates. The dividend declaration date is the last day of the dividend period,
and for the example above is January 31.
Daily balance computation method - Dividends are calculated by the daily
balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of dividends on non-cash deposits - Dividends will begin to
accrue on the business day you place non-cash items (i.e., checks) to your account.
Transaction limitations - Regulation D of the Federal Reserve controls the
Reserve requirements of Depository Institutions. Transactions through this account are
governed by Regulation D and limit this account to no more than six transactions per
calendar month. All six transfers may be made by any one of the following methods;
check, draft, debit card, if applicable, or similar order to a third party or by any combination of these methods.
What Transactions Must Be Counted?
1. ECU PhoneLink transfers from this account to another account (including a
transaction account) of the depositor at the same institution.
2. Transfers requested by telephone from this account to other deposit accounts.
3. Automatic transfers from this account to provide overdraft protection.
4. Preauthorized transfers from this account to third parties (such as insurance or
utilities electronic deductions).
5. Home Banking transfers from this account to other deposit accounts.
After six of these transactions have occurred in the account within a calendar month,
no more will be permitted for the remainder of the month.
“Walk-in” transactions handled by a Credit Union teller, and transactions processed
through an automated teller machine (ATM) are not countable transactions for
Regulation D purposes. There is no limit at ECU for withdrawals or transfers using
these two methods, except as limited by the account agreement.
Fees and charges - An excessive withdrawal by draft fee will be charged per
item, regardless of the balance, if more than six (6) checks, drafts or similar order to
third party are paid during any calendar month.
BEYOND FREE CHECKING™
Rate Information - The dividend and annual percentage yield may change at any
time. Rate changes will be at the discretion of Eastman Credit Union. This account is
a Tiered Rate account. For tiers and corresponding rates, refer to ECU deposit account
rate sheet. Once a particular balance range is met, the dividend rate and annual percentage yield listed for the balance range will apply to the full balance.
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Compounding and Crediting - Dividends will be compounded and credited
monthly.
Dividend period - For this account type, the dividend period is monthly, for
example, the beginning of the first dividend period is January 1, and the ending date
of such dividend period is January 31. All other dividend periods follow the same pattern
of dates. The dividend declaration date is the last day of the dividend period, and for
the example above is January 31.
Minimum balance requirements - No minimum balance requirement.
Daily balance computation method - Dividends are calculated by the daily
balance method which applies a daily periodic rate to the balance in the account each
day.
Accrual of dividends on non-cash deposits - Dividends will begin to
accrue on the business day you place non-cash items (for example, checks) to your
account.
Transaction limitations - No transaction limitations apply to this account unless
otherwise stated in the Common Features section.
Fees and Charges - No monthly fees apply.
EQUITY EXPRESS VISA® CHECKING
Rate Information - Not applicable.
Minimum balance requirements - No minimum balance requirement.
Transaction limitations - No transaction limitations apply to this account unless
otherwise stated in the Common Features section.
Fees and Charges - No monthly fees apply.
WELLNESS ACCOUNT
Rate Information - The dividend rate and annual percentage yield may change
at any time. Rate changes are at the discretion of Eastman Credit Union. For corresponding rate and annual percentage yield, refer to ECU deposit account rate sheet.
Compounding and Crediting - Dividends will be compounded and credited
monthly.
Dividend period - For this account type, the dividend period is monthly; for
example, the beginning date of the first dividend period is January 1, and the ending
date of such dividend period is January 31. All other dividend periods follow this
same pattern of dates. The dividend declaration date is the last day of the dividend
period, and for the example above is January 31.
Minimum balance requirements - No minimum balance requirement.
Daily balance computation method - Dividends are calculated by the daily
balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of dividends on non-cash deposits - Dividends will begin to accrue
on the business day you place non-cash items (for example, checks) to your account.
25
Transaction limitations - Regulation D of the Federal Reserve controls the
Reserve requirements of Depository Institutions. Transactions through this account are
governed by Regulation D and limit this account to no more than six transactions per
calendar month. All six transfers may be made by any one of the following methods;
check, draft, debit card, if applicable, or similar order to a third party or by any combination of these methods.
What Transactions Must Be Counted?
1. ECU PhoneLink transfers from this account to another account (including a
transaction account) of the depositor at the same institution.
2. Transfers requested by telephone from this account to other deposit accounts.
3. Automatic transfers from this account to provide overdraft protection.
4. Preauthorized transfers from this account to third parties (such as insurance or
utilities electronic deductions).
5. Home Banking transfers from this account to other deposit accounts.
After six of these transactions have occurred in the account within a calendar month, no
more will be permitted for the remainder of the month.
“Walk-in” transactions handled by a Credit Union teller, and transactions processed
through an automated teller machine (ATM) are not countable transactions for
Regulation D purposes. There is no limit at ECU for withdrawals or transfers using
these two methods, except as limited by the account agreement.
CHRISTMAS CLUB ACCOUNT
Rate Information - The dividend rate and annual percentage yield may change
at any time. Rate changes are at the discretion of Eastman Credit Union. For corresponding rate and annual percentage yield, refer to ECU deposit account rate sheet.
Compounding and crediting - Dividends will be compounded and credited
monthly.
Dividend period - For this account type, the dividend period is monthly; for
example, the beginning date of the first dividend period is January 1, and the ending
date of such dividend period is January 31. All other dividend periods follow this same
pattern of dates. The dividend declaration date is the last day of the dividend period,
and for the example above is January 31.
Minimum balance requirements - No minimum balance requirement.
Daily balance computation method - Dividends are calculated by the daily
balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of dividends on non-cash deposits - Dividends will begin to accrue
on the business day you place non-cash items (for example, checks) to your account.
Transaction limitations - During any calendar month, you may not make any
withdrawals or transfers to another credit union account of yours or to a third party by
means of a preauthorized or automatic transfer, telephonic order or instruction, or
similar order to a third party. Over-the-counter withdrawals are allowed. Balances are
paid out once a year at the first of November by transfer to the share account.
Fees and charges - A withdrawal fee will be charged for early withdrawal.
26
STASH YOUR CASH SHARE ACCOUNT
Rate Information - The dividend rate and annual percentage yield may change
at any time. Rate changes are at the discretion of Eastman Credit Union. For corresponding rate and annual percentage yield, refer to ECU deposit account rate sheet.
Compounding and crediting - Dividends will be compounded and credited
monthly.
Dividend period - For this account type, the dividend period is monthly; for
example, the beginning date of the first dividend period is January 1, and the ending
date of such dividend period is January 31. All other dividend periods follow this
same pattern of dates. The dividend declaration date is the last day of the dividend
period, and for the example above is January 31.
Minimum balance requirements - No minimum balance requirement.
Daily balance computation method - Dividends are calculated by the daily
balance method which applies a daily periodic rate to the balance in the account each
day.
Accrual of dividends on non-cash deposits - Dividends will begin to
accrue on the business day you place non-cash items (for example, checks) to your
account.
Transaction limitations - Regulation D of the Federal Reserve controls the
Reserve requirements of Depository Institutions. Transactions through this account are
governed by Regulation D and limit this account to no more than six transactions per
calendar month. All six transfers may be made by any one of the following methods;
check, draft, debit card, if applicable, or similar order to a third party or by any combination of these methods.
What Transactions Must Be Counted?
1. ECU PhoneLink transfers from this account to another account (including a
transaction account) of the depositor at the same institution.
2. Transfers requested by telephone from this account to other deposit accounts.
3. Automatic transfers from this account to provide overdraft protection.
4. Preauthorized transfers from this account to third parties (such as insurance or
utilities electronic deductions).
5. Home Banking transfers from this account to other deposit accounts.
After six of these transactions have occurred in the account within a calendar month,
no more will be permitted for the remainder of the month.
“Walk-in” transactions handled by a Credit Union teller, and transactions processed
through an automated teller machine (ATM) are not countable transactions for
Regulation D purposes. There is no limit at ECU for withdrawals or transfers using
these two methods, except as limited by the account agreement.
Balances are paid out at Member’s discretion by either a pre-authorized transfer or
over the counter transaction.
CREDIT BUILDER SECURE VISA® PLEDGE ACCOUNT
Rate Information – The dividend rate and annual percentage yield may change
at any time. Rate changes are at the discretion of Eastman Credit Union. For corresponding rate and annual percentage yield, refer to ECU deposit account rate sheet.
27
Compounding and Crediting – Dividends will be compounded and credited
monthly.
Dividend period – For this account type, the dividend period is monthly; for
example, the beginning date of the first dividend period is January 1, and the ending
date of such dividend period is January 31. All other dividend periods follow this
same pattern of dates. The dividend declaration date is the last day of the dividend
period, and for the example above is January 31.
Minimum balance requirements – The minimum balance required to open
this account is $300.00. You must maintain a minimum balance required of $300.00 in
your account each day to obtain the disclosed percentage yield.
Daily balance computation method – Dividends are calculated by the daily
balance method which applies a daily periodic rate to the balance in the account each
day.
Accrual of dividends on non-cash deposits – Dividends will begin to
accrue on the business day you place non-cash items (for example, checks) to your
account.
Transaction limitations – During any calendar month, you may not make any
withdrawals or transfers to another credit union account of yours or to a third party by
means of a preauthorized or automatic transfer, telephonic order or instructions, or
similar order to a third party. You may request a withdrawal above the amount that
secures the secured credit card. This security interest, pledge, and assignment is given
as security for any and all amounts you may owe, including but not limited to interest,
fees and charges that may accrue under your secured credit card account. This account
cannot be used for anything other than the pledge for the secured credit card.
BUSINESS REGULAR SHARE ACCOUNT
Rate Information - The dividend rate and annual percentage yield may change
at any time. Rate changes are at the discretion of Eastman Credit Union. For corresponding rate and annual percentage yield, refer to ECU deposit account rate sheet.
Compounding and crediting - Dividends will be compounded and credited
monthly.
Dividend period - For this account type, the dividend period is monthly; for
example, the beginning date of the first dividend period is January 1, and the ending
date of such dividend period is January 31. All other dividend periods follow this
same pattern of dates. The dividend declaration date is the last day of the dividend
period, and for the example above is January 31.
Minimum balance requirements - The minimum required to open this
account is the purchase of a share in the credit union. Please see the bylaw requirements in the Common Features section for additional information.
Daily balance computation method - Dividends are calculated by the daily
balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of dividends on non-cash deposits - Dividends will begin to
accrue no later than the business day we receive credit for the deposit of non-cash
items (for example, checks).
28
Transaction limitations - Regulation D of the Federal Reserve controls the
Reserve requirements of Depository Institutions. Transactions through this account are
governed by Regulation D and limit this account to no more than six transactions per
calendar month. All six transfers may be made by any one of the following methods;
check, draft, debit card, if applicable, or similar order to a third party or by any combination of these methods.
What Transactions Must Be Counted?
1. ECU PhoneLink transfers from this account to another account (including a
transaction account) of the depositor at the same institution.
2. Transfers requested by telephone from this account to other deposit accounts.
3. Automatic transfers from this account to provide overdraft protection.
4. Preauthorized transfers from this account to third parties (such as insurance or
utilities electronic deductions).
5. Home Banking transfers from this account to other deposit accounts.
After six of these transactions have occurred in the account within a calendar month,
no more will be permitted for the remainder of the month.
“Walk-in” transactions handled by a Credit Union teller, and transactions processed
through an automated teller machine (ATM) are not countable transactions for
Regulation D purposes. There is no limit at ECU for withdrawals or transfers using
these two methods, except as limited by the account agreement.
Fees and charges - If your account has more than 200 global items in a statement
period, you will be assessed a per item fee of $0.30 for those items exceeding 200.
Fees may apply for excessive currency and coin processing.
BEYOND FREE BUSINESS CHECKING with INTEREST
Rate Information - The dividend and annual percentage yield may change at any
time. Rate changes will be at the discretion of Eastman Credit Union. This account is
a Tiered Rate account. For tiers and corresponding rates, refer to ECU deposit account
rate sheet. Once a particular balance range is met, the dividend rate and annual percentage yield listed for the balance range will apply to the full balance.
Compounding and crediting - Dividends will be compounded and credited
monthly.
Dividend period - For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the calendar year is January 1,
and the ending date of such dividend period is January 31. All other dividend periods
follow this same pattern of dates. The dividend declaration date is the last day of the
dividend period, and for the example above is January 31.
Minimum balance requirements - There is no minimum balance requirement.
Daily balance computation method - Dividends are calculated by the daily
balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of dividends on non-cash deposits - Dividends will begin to
accrue no later than the business day we receive credit for the deposit of non-cash
items (for example, checks).
Transaction limitations - No transaction limitations apply to this account unless
otherwise stated in the Common Features section.
29
Fees and charges - If your account has more than 600 global items in a
statement period, you will be assessed a fee of $0.20 per item for those items exceeding 600. If your account has more than $10,000 of currency processed in a statement
period, you may be assessed a cash processing fee. Fees may also apply for excessive
coin processing.
BEYOND FREE BUSINESS CHECKING – BASIC
Rate Information - Not Applicable. This is a non-dividend bearing account.
Minimum balance requirements - There is no minimum balance requirement.
Transaction limitations - No transaction limitations apply to this account unless
otherwise stated in the Common Features section.
Fees and charges - If your account has more than 600 global items in a
statement period, you will be assessed a fee of $0.20 per item for those items exceeding 600. If your account has more than $10,000 of currency processed in a statement
period, you may be assessed a cash processing fee. Fees may also apply for excessive
coin processing.
MAXIMUM BUSINESS CHECKING
Rate Information - The dividend and annual percentage yield may change at any
time. Rate changes will be at the discretion of Eastman Credit Union. This account is
a Tiered Rate account. For tiers and corresponding rates, refer to ECU deposit account
rate sheet. Once a particular balance range is met, the dividend rate and annual percentage yield listed for the balance range will apply to the full balance.
Balance Information - You must maintain a minimum balance of $50,000.00 in
the account each day to obtain the disclosed dividend.
Compounding and crediting - Dividends will be compounded and credited
monthly.
Dividend period - For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the calendar year is January 1,
and the ending date of such dividend period is January 31. All other dividend periods
follow this same pattern of dates. The dividend declaration date is the last day of the
dividend period and for the example above is January 31.
Daily balance computation method - Dividends are calculated by the daily
balance method which applies a daily periodic rate to the balance in the account each
day.
Accrual of dividends on non-cash deposits - Dividends will begin to
accrue no later than the business day we receive credit for the deposit of non-cash
items (for example, checks).
Transaction limitations - No transaction limitations apply to this account unless
otherwise stated in the Common Features section.
Fees and charges - Your account will be assessed a $25.00 monthly service
charge if your balance falls bellow $50,000.00 during the statement cycle. If your
account has more than 600 global items in a statement period, you will be assessed
a fee of $0.20 per item for those items exceeding 600. If your account has more than
$10,000 of currency processed in a statement period, you may be assessed a cash
processing fee. Fees may also apply for excessive coin processing.
30
COMMON FEATURES
Bylaw requirements - You must complete payment of one share ($5.00) in your
Regular Share account as a condition of admission to membership.
Transaction limitations - We reserve the right to at any time require not
less than 60 days notice in writing before each withdrawal from a dividend-bearing
account other than a term share, or from any other savings account as defined by
Regulation D.
­­­­­­­
Nature of dividends - Dividends are paid from current income and available
earnings, after required transfers to reserves at the end of a dividend period.
National Credit Union Share Insurance Fund - Member accounts in this
credit union are federally insured by the National Credit Union Share Insurance Fund.
31
Notes:
32
The following fees may be assessed against your account and the following transaction
limitations, if any, apply to your account.
Fee Schedule
Account activity printout . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1.00/account
Account balancing assistance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $15.00/hour
Account research . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $15.00/hour
ACH telephone initiated payment . . . . . . . . . . . . . . . . . . . . . . . . . . . $10.00/transaction
ACH web initiated payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $10.00/transaction
ATM surcharge for foreign cards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2.50/transaction
Automated Teller Machine (ATMs) – use of ECU-owned machines . . . free & unlimited
Bill pay . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . free
Certified/Credit Union check made payable to 2nd party . . . . . . . . . . . . . . . $5.00/each
Check printing . . . . . . . . . . . . . . . . . . . . . . . . . (fee depends on style of checks ordered)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ECU stock checks are free
Christmas Club early withdrawal fee . . . . . . . . . . . . . . . . . . . . . . . . . $10.00/withdrawal
Copies of tax documents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1.00/page
Copy of check . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3.00/each
Dormant Account Fee*
(no activity for 730 days with balance less than $100) . . . . . . . . . . . $10.00/quarter
Garnishment and levy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $25.00/item
IMMA Advantage (excessive withdrawal fee) . . . . . . . . . . . . . . . . . . . . . . . . $ 5.00/item
Insufficient funds item** . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $30.00/item
Manual check processing fee*** . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $20.00/item
Night depository bag & key . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $20.00
Night depository disposable bags . . . . . . . . . . . (fee depends on style of bag ordered)
Photocopy of statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $5.00/statement
Plastic card replacement fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $5.00/per card
Provide information subpoenaed by court . . . . . . . . . . . . . . . . . . . . . . . . . . $1.00/page
Return of deposited item . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $12.00/item
Safe deposit box drilling fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $95.00
Safe deposit box late payment fee . . . . . . . . . . . . . . . . . $10.00/each month until paid
Safe deposit box lost key fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $10.00
Share overdraft/LOC transfers**** . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $5.00/transfer
Stop payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $30.00/item
Traveler’s checks (maximum $5.00 charge) . . . . . . . . . . . . . . . . . . . $1.00/per $100.00
Traveler’s checks for two . . . . . . . . . . . . . . . . . . $2.00/per $100.00 for the first $500.00
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1.00/per $100.00 thereafter
Uncollected funds item** . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $30.00/item
Wire transfer–domestic wire transfer-outgoing***** . . . . . . . . . . . . . . $10.00/transfer
Wire transfer–domestic wire transfer-incoming***** . . . . . . . . . . . . . . $10.00/transfer
Wire transfer–foreign wire transfer-outgoing . . . . . . . . . . . . . . . . . . . . $55.00/transfer
Written verification of deposit or mortgage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $10.00
*
Dormant Account Fee refers to memberships with aggregate balances less than
$100.00 with no activity on any account for at least two years. This fee will
not be assessed on members with open certificates, open loans, or checking
accounts with regular activity.
**
Created by check, in-person withdrawal, automatic items through ACH or
reoccurring Check Card transactions.
*** Manual check processing fee will be assessed if you close your checking account
and request ECU to pay outstanding drafts against another checking account.
**** Share Overdraft/LOC Transfer fee will not apply to transfers in the amount of
$10.00 or less.
***** Outgoing and incoming wire transfers of $100.00 or more are free to members
with a Beyond Free checking account. The fee applies to all members if the wire
transfer is under $100.00.
ECU 0312
33
KINGSPORT, TENNESSEE
• 201 S. Wilcox Drive
• 2021 Meadowview Lane,
Branch/Operations Center
• 2631 E. Stone Drive
• 170 Wendover Drive, Colonial Heights
• Eastman Building 147
7:30 a.m. - 5:30 p.m., Mon. - Fri.
• 216 West Ravine Road
9:00 a.m. - 5:30 p.m.
• 130 West Ravine Road
(inside Holston Valley Hospital)
10:00 a.m. - 4:00 p.m.
• Eastman Building 230*
7:30 a.m. - 1:00 p.m., Mon. - Fri.
BLOUNTVILLE, TENNESSEE
• 3306 Hwy 126
7:30 a.m. - 5:30 p.m., Mon. - Fri.
BRISTOL, TENNESSEE
• 1237 Volunteer Parkway
7:30 a.m. - 5:30 p.m., Mon. - Fri.
GRAY, TENNESSEE
• 384 Roy Martin Road
7:30 a.m. - 5:30 p.m., Mon. - Fri.
JONESBOROUGH, TENNESSEE
• 301 W. Jackson Boulevard
7:30 a.m. - 5:30 p.m., Mon. - Fri.
MOUNT CARMEL, TENNESSEE
• 166 Main Street
7:30 a.m. - 5:30 p.m., Mon. - Fri.
ROGERSVILLE, TENNESSEE
• 4003 Highway 66
9:00 a.m. - 5:30 p.m., Mon. - Fri.
SCOTT COUNTY, VIRGINIA
• 127 Tempur Pedic Drive, Duffield
• 265 Jones Street, Gate City
7:30 a.m. - 5:30 p.m., Mon. - Fri.
BATESVILLE, ARKANSAS
• 2800 Gap Road (Building 2N01, ARK)
6:30 a.m. - 12:30 p.m., Mon. - Fri.
LONGVIEW, TEXAS
• Hwy. 149, Kodak Blvd.
7:30 a.m. - 5:30 p.m., Mon. - Fri.
* Restricted access
JOHNSON CITY, TENNESSEE
• 113 Broyles Drive
• 255 Marketplace Blvd
• 4307 N. Roan Street, Suite #1
7:30 a.m. - 5:30 p.m., Mon. - Fri.
423-229-8200 or 800-999-2328
www.ecu.org