General Account Disclosure | Debit Card Agreement | VISA Account Disclosure

Account Disclosures

This agreement covers both the members’ and the Credit Union’s rights and responsibilities concerning the accounts and services available at the Credit Union. The terms “you” and “your” refer to anyone who signs an Application for Membership or other services. The terms “we” ”us” and “our” refer to the Credit Union.

The type of account(s) and the ownership of such account(s) are indicated on your Application for Membership. When you sign the Application for Membership you agree to the terms in this Account Disclosures and Agreement, and Fees and the Rate Schedule. You also authorize the credit Union to obtain a credit report from a credit reporting agency in order to determine your eligibility for any product of service you request from the Credit Union.
In order to establish and maintain an account at the Credit Union you must be within the field of membership as defined by the Credit Union charter, purchase one membership share, and meet any other membership requirements defined in the Credit Union Bylaws and Board Policy and any amendments which may be made to them from time to time. 

I understand that in order to obtain and or retain any product or service, I must be a member of the Credit Union and that said membership requires, among other things, that I open and maintain a Share Account with the appropriate minimum balance as determined by the Credit Union in its sole discretion.   I understand that I must maintain said Share Account with at least the required minimum amount during the time I receive or retain any product or service.  These products or services can include, but are not limited to any loan, credit card, or savings products with the Credit Union.

To join the Credit Union and/or open an account, in addition to qualifying for membership, you must provide us with documentation of your current name, residential address (and if different, your mailing address), email address, phone, and date of  birth.  We will require you to provide us with current government issued picture identification and a Taxpayer Identification Number (e.g. Social Security Number (SSN), Individual Taxpayer Identification Number (TIN), or Employee Identification Number (EIN).

Individual Account

An individual account is an account owned by the depositor including any individual, partnership, or other organization qualified for Credit Union membership. In the event of your death the funds in the account will go to your estate (subject to the terms of this agreement).  Alternatively, you can designate a specific person or persons or entity as a beneficiary(s)/POD (payable on death) payee(s) for your individual account.  In the event of your death, the beneficiary(s)/POD payee(s) will be entitled to the funds in the account (subject to the terms of this agreement) upon proof  of your death and the beneficiary’s/POD payee’s identification.  If you designate more than one beneficiary /POD payee on the account, each will be entitled to his or her (or its) proportionate share of the funds in the account (which will be determined by dividing the amount of the funds in the account by the number of beneficiaries/POD payees designated on the account) and will own those funds without right of survivorship.  If a beneficiary/POD payee predeceases you, it is your responsibility to notify us and change the account accordingly.  Beneficiary/POD payee designations made on this contract do not apply to Individual Retirement Accounts (IRAs) or any account life savings insurance, which have separate beneficiary designations.

Multiple Party Accounts

An account owned by two or more individuals is a multiple party or joint account. This account may be with or without survivorship as designated on the Application for Membership. If the account is “Joint with Survivorship”, upon the death of one of the joint owners that person’s interest will become the property of the surviving joint owner(s). If the account is “Joint without Survivorship”, the interest of the deceased owner will pass to his estate.

Rights of Joint Account Owners

Any joint account owner is authorized to act for the other owner(s) and the Credit Union may accept orders and instructions regarding the account, requests for future services and any transaction from any joint owner. Any joint owner may withdraw all funds in the account, stop payment on items drawn on an account, transfer or pledge all or any part of the shares of any account without the consent of the other account owner(s). The Credit Union shall have no duty to notify any other joint account owner(s).

The Credit Union reserves the right to require written consent of all joint account owners for a change of ownership or termination of an account. If the Credit Union receives written notice of a dispute between joint account owners or receives inconsistent instructions from them, the Credit Union may suspend or terminate the account, require a court order to act, or require that all joint account owners agree in writing to any transaction concerning the agreement.

Liability of Joint Account Owners

If any item deposited in a joint account is returned unpaid or an account is overdrawn, each of the joint account owners is jointly and severally liable to the Credit Union for the amount of the returned item of overdraft, any resulting charges, regardless of who created the overdraft, deposited or cashed the item or benefited from the transaction. If any joint owner is indebted to the Credit Union such that the Credit Union has a lien against an account of that joint owner, The Credit Union may enforce its rights against any or all funds in the joint account, or the joint owner’s other accounts, regardless of who contributed the funds to the account(s).

POD (Payable on Death)

An account with a POD beneficiary on the Application for Membership means that the account is payable to the owner or owners during their lifetimes, then upon the death of the last surviving joint owner, the funds in the account shall be paid to the designated POD beneficiary. If more than one POD beneficiary is named, the funds will be owned jointly by them. If an account is a multiple party account, each of the owners will be subject to the rules of joint ownership shown above. A POD designation does not apply to individual Retirement Accounts (IRAs) since they have a separate beneficiary designation.

Account for Minors

The Credit Union will establish an account for a minor child; however, we reserve the right to require a joint owner who is at least 18 years of age and who shall be primarily liable to the Credit Union for any returned item, overdraft, or unpaid charges on the account. The Credit Union shall honor all withdrawals and deposits of the minor without regard to his minority as long as adequate identification is provided. If the parent is not a joint owner, no information will be released to them.

Uniform Transfer to Minors Account

The Credit Union will establish an individual account for a member as custodian who wishes to deposit funds as an irrevocable gift to a minor. There may be only one custodian for each UTMA account. The custodian has control of the account for the benefit of the minor and is the only party entitled to make withdrawals or close the account. The Credit Union has no duty to inquire into the purpose of any withdrawal or use of the funds by the custodian. The appointment of a successor custodian in the event of the custodian’s death shall be made in accordance with applicable state law. The age at which a minor reaches majority may also vary from state to state.

Accounts for Member Entities

Entities that qualify for membership can open and own a one owner account, and both the entity and its designated signers are subject to the terms, responsibilities and liabilities of this contract.  We may require any signer to provide proper evidence of the entity’s existence (e.g., articles of incorporation, partnership agreement, business license), and to establish his or her authority to act as a signer (e.g., through a notarized board resolution, partnership letter, etc.) and his or her identity as a signer prior to opening the account.
Each director, officer, partner, shareholder, employee, member, trustee, agent, signer, etc., promises that the entity has been legally formed and exist, that it qualifies for membership, and all signers promise that they hold the position/titles as provided on this contract and have the authority to transact business on behalf of the entity member account owner.  The entity account owner and all directors, officers, partners, shareholders, employees, members, trustees, agents and signers agree to the terms, responsibilities and liabilities of this contract (and the agreement, all disclosures, bylaws, policies and procedures incorporated by reference), and further agree to indemnify, defend, and hold us harmless for any loss, damage, claim or liability that occurs as a result of opening, maintaining, conducting transactions on and closing the account.  We reserve the right to require that all checks made payable to an entity be deposited to the entity’s account.

Power of Attorney

The Credit Union reserves the right to review, and approve any Power of Attorney. A copy of the Power of Attorney will be retained and the expiration date noted on the account. Unless the Credit Union receives a revocation in writing prior to the expiration date and fails to act on it, we will not be liable for any transactions performed up to that date.  Additionally, if we elect to rely on your Power of Attorney, both you and your Attorney in Fact agree to indemnify, defend, and hold us harmless for any loss, damage, claim or liability that occurs as a result of our reliance on the power of attorney. 

Deposit of Funds Requirements

Funds may be deposited into any account you own, by means of teller transactions within the Credit Union, at our ATM network, at the Credit Union Service Centers, either inside the facility or through ATM.

Mail Transactions

The Credit Union will accept deposits, withdrawals, and loan payments via mail. Such transactions will be posted to your account as of the day the transaction is received at the Credit Union. Deposits may be subject to our funds availability policy. You should include crediting instructions when mailing deposits and loan payments.

Collections of Items

We act only as your agent and we are not responsible for handling items for deposit or collection beyond the exercise of ordinary care. Deposits made by mail or at ATM facilities owned or not owned by the Credit Union will not be considered responsibility of the Credit Union until we received the item. We may send any item for collection. Items drawn on an institution located outside the United States are handled on a collection basis only. You waive any notice of nonpayment, dishonor, or protection regarding items we purchase or receive for credit or collection to your account.

Final Payment

All items of Automated Clearing House (ACH) transfers credited to your account are provisional until we receive final payment. If final payment is not received, we may charge your account for the amount of such items or ACH transfers and impose a return item charge on your account. Any collection fees we incur will be charged to your account. We reserve the right to refuse or return any item or funds transfer.

Direct Deposits

We will post direct deposits or preauthorized transfers from other accounts as indicated by the originating source.

Crediting of Deposits

Deposits made on either holidays or days that are not our business days will be credited to your account on the next business day.

Third Party Checks

No third party checks will be accepted.

 

Account Access


Access Options

You may access your Credit Union account(s) by visiting a branch office or by utilizing an automated service including but not limited to ATM (automated teller machine), check card, check, audio response, home banking, ACH and wire transfer. There may be a limit or certain restrictions on some transactions as explained in other sections of this agreement.

No more than six transfers and withdrawals or a combination of the two may be made from a savings account to another account at the Credit Union or to a third party by means of preauthorized transfer or by telephone each month.

The following transfers from a savings account count toward the limit of six per month:

  • telephone requests taken by an employee to transfer funds from another account
  • instructions received through our audio response system to transfer funds to another account
  • transfers cover overdrafts ( if more than one check overdrafts on that particular day, normally only one transfer is made);
  • transfers to cover ACH debits which overdraft the checking account;
  • instructions received through home banking transfer funds to another account;
  • preauthorized or automatic transfers to a third party ( including ACH debits)

 

Funds Transfer Agreement and Notice


Article 4A of the Uniform Commercial Code and the Federal Reserve’s Regulation J cover the movement of funds by means of wire transfers, automated clearinghouse (ACH) credit and some inter-account transfers on the Credit Union’s records.  Using the Credit Union to send or receive funds transfers will constitute your acceptance of these terms of agreement.

The Credit Union may charge your account for the amount of any funds transfer initiated by you or by any person authorized by you as a joint owner or other authorized party with the right of access to the account from which the funds transfer is to be made.

The Credit Union may establish, from time to time, security procedures to verify the authenticity of a payment order.  You will be notified of the security procedures, if any are to be used to verify payment orders issued by you or for which your account will be liable.  You agree that the authenticity of payment orders may be verified using that security procedure unless you notify the Credit Union in writing that you do not agree with that security procedure.  In that event, the Credit Union shall have no obligation to accept any payment order form you or other authorized parties on the account until you and the Credit Union agree, in writing, on an alternate security procedure.

If you send or receive a wire transfer these transactions are governed by Regulation J.  You will receive notice of such transfers on your periodic account statement.  If you give the Credit Union a payment order which identifies the beneficiary (person who will receive the funds) by both name and identifying or account number, payment may be made to the beneficiary’s bank on the basis of the identifying or account number, even if the number identifies a person different than the named beneficiary.  If you give the Credit Union a payment order which identifies any bank in the funds transfer by name and by a routing/transit or other identifying number, the Credit Union can rely on the number even if it identifies a bank different form the named bank.

Unless otherwise provided by the Credit Union in a separate schedule concerning specific types of funds transfers, the cut-off time for receipt and processing of payment orders shall be 4 p.m. EST (EDT) on each funds transfer business day (Monday-Friday). Payment orders received after the cut off time may not be transmitted until the following business day.

ACH transactions are governed by the operating rules of the National Automated Clearing House Association.  In accordance with these rules the Credit Union will not provide you with next day notice of receipt of ACH credit transfers to your account.  We will provide information about these transactions on your periodic statement or you may contact the Credit Union to verify receipt of ACH debits or credits.

The Credit Union may give you credit for ACH payments before it receives final settlement of the funds transfer.  Any such credit is provisional until the Credit Union receives final settlement on the payment.  You are hereby notified and agree, if the Credit Union does not receive such final settlement, that it is entitled to a refund from you of the amount credited to you in connection with that ACH entry.  This means that the Credit Union may provide you with access to ACH funds before the Credit Union actually receives the money. However, if the Credit Union does not receive the money, then the Credit Union may reverse the entry on your account and you would be liable to repay the Credit Union.

 

Account Rates and Fees


Savings and Checking Accounts

Rate information

The Rate Schedule reflects the prospective dividend rate and annual percentage yield on your account at the time of opening.  The dividend rate and annual percentage yield may change monthly as determined by the Credit Union’s Board of Directors.

Nature of Dividends

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

Compounding and Crediting

Dividends will be compounded quarterly and credited to your account quarterly.  The dividend period is quarterly for all savings accounts.

Quarterly Dividend Period

If the beginning date of the first dividend period of the calendar year is January 1, the ending date of such period is March 31.

Monthly Dividend Period

If the beginning date of the first dividend period of the calendar year is January 1, the ending date of such period is January 31.  The dividend posting date follows the ending date of a dividend period.  For the quarterly dividend period ending on March 31, the declaration date would be April 1.  For the first monthly dividend period of a calendar year, the declaration date would be February 1.  If you close an account before dividends are credited you will receive accrued dividends.

Minimum Balances

The minimum balance required to open a savings/checking accounts are reflected on the Rate Schedule.  The minimum average daily balances required to obtain the annual percentage yield (APY) disclosed are also reflected on the Rate Schedule.  Any minimum balances necessary to avoid service fees are shown on the Rate and Fee Schedule.

Fees

Fees, which may be assessed on your account, are reflected on the Fee Schedule, which is available in any branch office or online.

Balance Computation Method

We use the average daily balance method to calculate dividends and for obtaining the APY on your account.  This method applies a periodic rate to the average daily balance in your account for the dividend period.  The average daily balance is calculated by adding the balance in the account each day in the dividend period and dividing that figure by the number of days in the dividend period.

Accrual of Dividends

Dividends begin to accrue on the business day you deposit items to your account unless otherwise disclosed to you at the time of deposit.

Transaction Limitations

The Credit Union is only required to permit a withdrawal if you have sufficient funds available in your account or you have an established overdraft protection plan.  There are no transaction limitations on checking accounts as long as there are sufficient funds or you have an established overdraft protection plan.  Certain transaction limitations may apply to an IRA (Individual Retirement Account)—please refer to your IRA Plan Disclosure.

Checking Account

The Credit Union requires each member to maintain a balance sufficient to cover all checks written and all debits initiated against an account.  Repeated overdrafts may result in your account being closed.  In addition, you agree to the terms herein, which the Credit Union may supplement and amend from time to time and to applicable state and federal laws, rules and regulations. All sums now or hereafter paid into your account and all accumulations thereon may be withdrawn by checks signed by any of the account owners.

Only check forms and other methods approved by the Credit Union may be used to withdraw funds from your account.  The Credit Union is under no obligation to pay a check, which exceeds the balance in your account, and it shall not be liable for failure to pay a check unless such failure is solely due to its negligence.

Any objection with regard to any item shown on a monthly statement of your account shall be waived unless made in writing to the Credit Union on or before the 30th day following the date the statement was mailed.  The right of the Credit Union to permit the withdrawal of funds from this account may be terminated only by its receipt of written notice from any of the account owners that withdrawals should not be permitted; but such notice shall not affect withdrawals previously made.

You understand and assume all risks associated with the disclosure to third parties of confidential information regarding your account by you or your joint account owners.  You hereby authorize the Credit Union to accept and honor any preauthorized debits in the names of any or all of the account owners.  You further release and hold harmless the Credit Union from any and all claims, losses or damages arising from the acceptance by the Credit Union of preauthorized debits drawn on this account.

Overdrafts

If a check is written or an electronic check is presented for an amount in excess of the balance in your checking account and there is no established overdraft protection plan, the check will be returned and you will be charged as indicated on the Rate and Fee Schedule. You may request to have funds transferred from your savings account if your checking account does not have sufficient funds; however, only funds in excess of the $25 required to maintain your prime share account will be available for transfer.  (There is a limitation on the number of times per month that such a transfer may be made.  See Account Access for details.)

If your account has an overdraft line of credit agreement with the Credit Union, a check written for funds in excess of the balance in your checking account will constitute a request for an advance from the line of credit.  Such advances will be made in increments of $50.00.  If less than $50.00 is available on the line of credit, the amount available will be transferred.  No partial payments will be made if sufficient funds are not available. The Credit Union may make the advance and add the amount to the overdraft line of credit balance.

Postdated/Stale dated Checks

If you date a check later than the date that you write it and the check is presented for payment before its date, the Credit Union may return it unpaid.

The Credit Union may, but is under no obligation to pay a check drawn on your account, which is presented more than six months after its date.

Stop Payment Orders

You may ask the Credit Union to stop payment on any check drawn on your checking account.  You must request a stop payment in person.  The stop payment will be effective if we receive the notice in time to act upon it and you provide the number of the account, date and number of the check, its exact amount, and to whom it was issued.  If you give the Credit Union incorrect or incomplete information, we will not be responsible for failing to stop payment on the check.  If the stop payment is not received in time for the Credit Union to act upon the order, we will not be liable to you or to any other party for payment of the check.  If we re-credit your account after paying a check over a valid and timely stop payment order, you agree to sign a statement describing the dispute with the payee, to transfer to the Credit Union all of your rights against the payee or other holders of the check, and to assist the Credit Union in legal action taken against the person.
Written stop payment orders are effective for six months.  In order for any written stop payment order to remain in effect after the initial six months, you must renew the order in writing.  The Credit Union is not obligated to notify you when a stop payment order expires.

The Credit Union will charge you a fee for each stop payment order requested.  This charge is shown on the Disclosure of Fees and Charges available at all branch offices or online.  You may not stop payment on any cashier’s check, or any other check or payment guaranteed by you or the Credit Union.  You should know that while payment of a check may be stopped, you may remain liable to any person, including the Credit Union, who is a holder of the check despite the stop payment order.  You agree to indemnify and hold the Credit Union harmless from all costs, including attorney’s fees, damages or claims related to the Credit Union’s action in refusing payment of a check, including claims of any multiple party account owner, payee, or endorsee in failing to stop payment of a check as a result of incorrect information provided by you.

 

Pre-Authorized Debits (ACH)


The Credit Union will accept pre-authorized debits received in your name through the ACH (Automated Clearing House) system.  You must authorize these debits with the originator (a company or organization).  The originator is responsible for giving a copy of the authorization to you and for keeping a copy of your authorization on file.  Since these debits are normally directed to your checking account, some rules are the same as for written checks.

Overdrafts

If a debit is received for funds in excess of the balance in your account and there is no established overdraft protection plan, the debit will be returned to you and will be charged as indicated on the Disclosure of Fees and Charges.  Funds can be transferred from your share account (see Account Access for transaction limitations) or from an approved line of credit.

If you or your joint owner(s) have an overdraft line of credit agreement with the Credit Union, a debit for funds in excess of the balance in your checking account will constitute a request for an advance from the line of credit.  Such advances will be made in increments of $50.00.  If less than $50.00 is available on the line of credit, the amount available will be transferred.  The Credit Union may take the advance and add the amount to the overdraft line of credit balance.  Funds to cover overdrafts may be transferred from accounts in the order you request.

Stop Payment Orders

You may ask the Credit Union to stop payment on any preauthorized debit.  You must request a stop payment order in person providing a signature so that we will receive your request at least three business days in advance of the scheduled debit. 

A written stop payment is effective for six months.  You must renew a stop payment in writing every six months for it to remain in effect.  The Credit Union is not obligated to notify you when a stop payment order expires.

Unauthorized Debits

An unauthorized debit means a debit, which has been initiated by a company against your account without your written authorization.  It may also be a debit, which is in an amount different than what you authorized, or a debit that was sent earlier than you authorized.  If you believe you have an unauthorized debit, you must notify the sending company that you have revoked your authorization.  You must also file an Affidavit with the Credit Union before we can return the debit.  In order to receive immediate credit you must report the unauthorized debit to the Credit Union within 15 days from the date the information describing the debit is made available to you.

 

Share Certificate Accounts


Rate Information

The Rate and Fee Schedule, reflects the dividend rate and annual percentage yield on your share certificate account that will be paid until maturity.  The annual percentage yield assumes dividends will remain on deposit until maturity.  A withdrawal of dividends will reduce earnings.

Compounding and Crediting

You must select a dividend distribution option at the time the certificate is purchased.  You may elect dividends to be compounded and credited quarterly.  Or instead of compounding, the dividends can be mailed to you quarterly in the form of a check or transferred to a specific account quarterly.

Minimum Balances

The minimum balance required to purchase a certificate is shown on the Rate and Fee Schedule.  The minimum balance to obtain the annual percentage yield (APY) disclosed is also reflected on the Rate and Fee Schedule.

Balance Computation Method

We use the daily balance method to calculate dividends and for obtaining the APY on your share certificate account.  This method applies a daily periodic rate to the full amount of principle in the account each day.

Transaction Limitations

You may not make any deposits into your account until the maturity date.

Maturity Date

Your certificate will mature on the date stated on the certificate.

Early Withdrawal Penalties

If any of the deposit is withdrawn before the maturity date, a penalty will be imposed.

Term Early withdrawal penalty
6-month 90 days dividends
12-month 90 days dividends
24-month 90 days dividends
36-month 90 days dividends
60-month 90 days dividends

Automatically Renewable Share Certificate Accounts

Share Certificate accounts will renew automatically at the dividend rate prevailing at maturity unless otherwise disclosed on the certificate.  You will have ten calendar days after the maturity date to withdraw funds without penalty.

 

Account Information


Name and Address Change

It is your responsibility to notify the Credit Union of any change of name and/or address for your account.  We have the right to request that this information be provided in writing.  We may also accept the notification provided by the United States Postal Service’s National Change of Address system as a reasonable basis for changing your address.  If any periodic statement is returned to us by the postal service, we may not mail future statements.  You may obtain copies by contacting the Credit Union and providing us with your current address.

Taxpayer Identification Numbers and Backup Withholding

Upon opening an account, you must provide a name, a matching Taxpayer Identification Number (TIN) and a valid address.  You must also certify that you are subject to, are not subject to, or are exempt from backup withholding under Section 3406(a)(1)(C) of the Internal Revenue Code.  If your account is or becomes subject to backup withholding, the Credit Union is required by law to withhold and pay to the Internal Revenue Service a percentage of paid dividends and certain other payments under certain conditions.  Your failure to furnish a correct TIN or meet other applicable requirements may result in backup withholding as well as civil or criminal penalties.

Credit Union Lien and Security Interest

Northern Star Credit Union may use the funds from you shares and dividends to pay any debt or amount you owe to the Credit Union.  Further as a borrower, guarantor, endorser, or otherwise, we have a statutory lien on the funds in any account which you have an ownership interest, regardless of the source, unless prohibited by law.  We may apply these funds, without further notice to you in order to pay off the indebtedness.  By not enforcing the lien, the Credit Union does not waive its right to enforce it later.  In addition, you grant the Credit Union a consensual security interest in your accounts and we may use the funds from your accounts to pay any debt or any amount now or hereafter owed the Credit Union, except for obligations secured by your residence, unless prohibited by applicable law.  All accounts are non-assignable and nontransferable to third parties.

Legal Process

If any legal action is brought against your account, we may pay out funds according to the terms of the action or refuse any payout until the dispute is resolved.  Expenses or attorneys fees we incur may be charged to your account without notice to you, unless prohibited by law.  Any legal process against your account is subject to our lien and statutory interest.
If any and all charges, losses , and/or negative balances in the account are not paid when due, the member(s) agree to pay all costs of collection including an attorney’s fee of 33 1/3% of  the balance placed with the attorney, which shall be deemed incurred upon referral for collection, plus applicable legal or contractual rate of interest.

Statements of Account

The Credit Union will provide periodic statements depending upon the type of activity in your account.  You will get a monthly statement if you have a checking account or if you have any electronic funds transfers during that month. 

It is your responsibility to review the statement within a “reasonable amount of time” and notify the Credit Union immediately if you discover any unauthorized transactions or alternations.  If you fail to do this, you may bear the entire loss yourself (depending on whether we exercised ordinary care and, if not, whether we substantially contributed to the loss).  A “reasonable amount of time” will generally be within 30 days after the statement was mailed to you.

Termination of Account

The Credit Union may terminate your account at any time without notice and require you to repay, in full all outstanding obligations.  It may also require you to close your account and apply for a new account.  Circumstances for these actions may include, but are not limited to:

(1) a fraud or forgery on your account
(2) lost or stolen checks
(3) an excessive number of returned or non-sufficient funds items
(4) other abuse of your account
(5) a change in authorized signers. 

We reserve the right to require the consent of all owners in order to terminate the account.  We are not responsible for payment of any draft, withdrawal, or other item after your account is terminated.

Termination of Membership

In accordance with the Regulations and By-laws, we reserve the right to terminate the membership of any member causing the Credit Union a loss.

Inactive Accounts

If you have not made any deposits, withdrawals or other transactions or communicated with us in writing regarding your account during a 12-month period, your account will be classified as “inactive”.  Dividend postings will not be considered transactions for this purpose.  We have the right to request additional identification and written authorization for transactions on inactive accounts.  If your account remains inactive for an extended period of time, it will be considered abandoned.  In accordance with state unclaimed property acts, funds in abandoned accounts must be remitted to the custody of the applicable state agency and we will have no further liability to you for such funds.

Your Ability to Withdraw Funds

Our normal policy is to make funds from deposits to your checking account at Northern Star branches available to you immediately.  A hold may be placed on any type of deposit made at shared branch facilities or ATM’s.  Electronic direct deposits will be available on the day we receive the deposit.  Once they are available, you can withdraw funds in cash, and/or 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 before regular business hours on a business day that we are open, we will consider that day to be the day of your deposit.  However, if you make a deposit after regular business hours or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

Longer Delays May Apply

In some cases, we may not make all the funds that you deposit by check available to you immediately.  Depending on the type of deposit, funds may not be available between two and nine business day after the day of your deposit.  However, the first $200 of your deposit will be made available to you the next business day.

If we are not going to make all the funds from your deposit available, we will notify you at the time you make the 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 initiate notification by the next business day following receipt of your deposit.

If you will need the funds from a deposit immediately, 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 the check you deposit will not be paid.
  • Your account has been open less than 90 days.
  • You have overdrawn your account repeatedly in the last six months.
  • There is an emergency, such as failure of communications or computer 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 9th business day after the day of your deposit.

If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account.  Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.

Special Rules for New Accounts

If you are a new member, the following special rules will apply during the first 90 days. 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, 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.

Funds from all other check deposits, including ATM check deposits, will be available on the 9th business day after the day of your deposit.

ATM Deposits

Deposits are accepted only at ATMs (Automated Teller Machines) identified as being owned by this Credit Union or at certain machines, which display the Credit Union 24 logo.  Funds from deposits are subject to verification and may not be available immediately.  All ATM deposits are subject to hold between 48 and 72 hours.

 

Electronic Services Disclosure


This disclosure is made to comply with the requirements of the Electronic Funds Transfer Act, Federal Reserve Regulation E, and VISA Operating Rules.  This law establishes the basic rights, liabilities and responsibilities of consumers who use electronic fund transfer services and of the financial institutions providing such services.  If you use automated teller machines on any network in which the Credit Union participates, or if you use any preauthorized debit or credit transfer service (such as direct deposit, insurance or mortgage payments, etc.), or use a Northern Star Credit Union check card, the law and this disclosure apply to you.  Additionally, the information provided covers the audio response, home banking and future electronic services offered by this Credit Union.  Some specific services described may not apply to your account.  This disclosure preempts the terms of any previous electronic services disclosure, which may have been provided to you.

Your liability for unauthorized transactions

Tell us AT ONCE if you believe your Credit Union ATM card, audio response or home banking PIN has been lost, stolen or used or may be used without your authority.  Telephoning the Credit Union is the best way of keeping your possible losses down, although you may tell us in person, in writing or by electronic mail at the address in this disclosure.  You could lose all the money in your account (plus your maximum revolving line of credit).

You will have no liability for unauthorized use of your check card or account information when the transaction is processed through the VISA network unless the card was handled negligently.

If your ATM card or check card is lost or stolen or used without your authorization at an ATM or point of sales device with a PIN you must tell us within 2 business days after you learn of the loss, theft or unauthorized use of your card or PIN. If we can prove we could have stopped someone from using your card or PIN without your permission if you had told us, you could lose all funds in your account.  These same rules apply to your audio response or home banking PIN.

If your statement shows an electronic funds transfer that you did not make or authorize anyone to make, tell us at once.  If you do not tell us within 60 days from the time the charge first appears on your statement mailed to you, you will not get back any money you lost.    

Non-Visa Debit Transactions

Northern Star Credit Union Inc. enables Non-Visa Debit Transactions processing and does not require that a PIN authenticate all such transactions.  A Non-Visa Debit Transaction may occur on your Northern Star Credit Union debt card through the Star, Pulse, Accel/Exchange, NYCE, AFFIN, National Exchange, Credit Union 24, Member Access Atlantic, Maestrow, CUHereMoneyPass, and Plus Networks. Below are examples to distinguish between a Visa Debit and Non-Visa Debit Transactions:

  • To initiate a Visa Debit Transaction at the point of sale, the cardholder signs a receipt, provides a card number in e-commerce or mail/telephone order environments, or swipes the card through a point-of-sale terminal.
  • To initiate a Non-Visa Debt Transaction, the cardholder enters a PIN at the point-of-sale terminal or, for certain bill payment transactions, provides the account number for an e-commerce or mail/telephone after clearly indicating a preference to route it as a Non-Visa Transaction.

Address and Telephone Number

If you believe that your card or PIN has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call:  757-487-3474 or send a facsimile with your signature to (757) 487-9464, or write: Northern Star Credit Union, 5100 George Washington Highway, Portsmouth, VA 23702, or email: nstarcu@nstarcu.org  After normal business hours contact 1-800-528-2273.

Business Days

For purposes of these disclosures, our business days are Monday through Friday.  Saturdays, Sundays and Federal Holidays are not included.

Account Access

You may use your Northern Star Check Card without a personal identification number (PIN) to pay for goods and services at places which display the VISA logo.  You may not use your card for any illegal transaction.  You may use your automated teller machine card or your Northern Star Check card with your personal identification number (PIN) to:

  • withdraw cash from your share savings and checking accounts.
  • make deposits to your savings and checking accounts.
  • transfer funds between your saving and checking accounts whenever your request.
  • pay for purchases at places that have agreed to accept the card.

You may use our audio response system or home banking with your PIN to:

  • transfer funds from savings or checking to your loan accounts or other share accounts.
  • obtain share and loan account balances and information.
  • obtain an advance on an approved line of credit.

Additional information not involving electronic funds transfer is available through automated teller machines, our audio response system, and home banking.

Limitations on transaction frequency and amount

ATM cash withdrawals are limited to $200.00 per transaction with a $500.00 per day limit. There is no limitation on the number or dollar amount of preauthorized debits or credits processed providing there are sufficient funds in your account to cover any debit. There is no limitation to the number of audio response, or home banking transactions you may make per month (subject to the limitations discussed under ACCOUNT ACCESS) provided there are sufficient funds to complete the transactions. For security purposes a maximum dollar amount for withdrawals may be imposed.

Charges

There is no charge for a transaction performed at an automated teller machine owned by this Credit Union with a card issued by us. The fees charged by us for using our ATM card at point of sale terminals or automated teller machines owned and operated by other institutions are shown on the Rate and Fee Schedule available in all branch offices. A fee may be imposed by the ATM operator if you use an ATM not owned or operated by Northern Star Credit Union.

There is no charge for purchases with your Northern Star Check Card if no PIN is entered. If you use your PIN, a charge may be imposed by the Credit Union and the merchant. There is no charge to use our audio response system or home banking.

There is no charge for recurring deposits. There is a charge for a preauthorized debit which cannot be processed due to insufficient funds in your account. This charge is shown on the Disclosure of Fees available in all branch offices.

Disclosures of 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, or
  • in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or
  • in order to comply with government agency or court orders, or
  • if you give us written permission.

Documentation of Transfers

You can get a receipt at the time you make a transaction using an automated teller machine or point of sale device with a PIN. You should get a receipt each time you use your Northern Star Check Card without a PIN to purchase goods or services. It is suggested that you retain these receipts for comparison to the information provided on your statement of account.

In Case of Error or Questions about Your Electronic Transfers

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

  • Provide us your name and account number.
  • 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.
  • Provide us the dollar amount of the suspected error.

In the case of a request for reimbursement for an unauthorized transaction, you agree to provide the Credit Union with an affidavit on the Credit Union's form describing the nature of the loss. This determination could take up to 90 days.

If you notify us of an unauthorized Check Card transaction processed through the VISA network where no PIN was entered, we will provisionally credit your account within five (5) business days of the notification. We require written confirmation from you before providing provisional credit. We may withhold providing provisional credit, to the extent allowed under applicable law, if the circumstances or account history warrant the delay.

We will notify you the results within three (3) business days after completing our investigation. If it is determined that there was no error, a written explanation will be provided.

Special Rules for New Accounts

If the notice of error involves an electronic funds transfer to or from the account within the first 90 days, we will credit your account within 20 business days for the amount you think is in error. The investigation process may take up to 90 days.

Electronic Mail Communications

Northern Star has the right to contact you via electronic mail (e-mail) on matters concerning your account, membership, or Northern Star services.  Any e-mail address given to a Northern Star employee or volunteer can be kept on record as your email address. Do not give any Credit Union representative an e-mail address that you believe is not secure or that you share access with. Although Northern Star is not obligated, we reserve the right to require authentication of e-mails or electronic communication. The decision to require authentication is at the sole discretion of the Credit Union. We may not immediately receive an e-mail you send and may not take action on a request delivered electronically, unless we receive it and have adequate time to act on it.


DEBIT CARD AGREEMENT

You may use your Northern Star Check Card without a personal identification number (PIN) to pay for goods and services at places which display the VISA logo. You may not use your card for any illegal transaction. You may use Northern Star Visa Check card with your personal identification number (PIN) to:

  • Withdraw cash from your share savings and checking accounts.
  • Obtain share savings and checking accounts balances and information
  • Transfer funds between your saving and checking accounts
  • Pay for purchases at places that have agreed to accept the card.

Access Limitations on transaction frequency and amount
ATM cash withdrawals are limited to a $500.00 per day.

You may access your Credit Union account(s) by visiting a branch office or by utilizing an automated service including but not limited to ATM (automated teller machine), check card, check, audio response, home banking, ACH and wire transfer. No more than six transfers and withdrawals or a combination of the two may be made from a savings account to another account at the Credit Union, ATM, or to a third party by means of preauthorized transfer.

The following transfers from a savings account count toward the limit of six per month:

  • telephone requests taken by an employee to transfer funds from another account
  • instructions received through our audio response system to transfer funds to another account
  • transfers cover overdrafts ( if more than one check overdrafts on that particular day, normally only one transfer is made);
  • transfers to cover ACH debits which overdraft the checking account;
  • instructions received through home banking transfer funds to another account;
  • preauthorized or automatic transfers to a third party ( including ACH debits)

Charges
There is no charge for a transaction performed at an automated teller machine owned by this Credit Union with a card issued by us. There are fees charged by us for using our ATM card at point of sale terminals or automated teller machines owned and operated by other institutions. A fee may be imposed by the ATM operator if you use an ATM not owned or operated by Northern Star Credit Union. There is no charge for purchases with your Northern Star Check Card if no PIN is entered. If you use your PIN, a charge may be imposed by the Credit Union and the merchant. There is no charge for recurring deposits. There is a charge for a preauthorized debit which cannot be processed due to insufficient funds in your account. These charges are shown on the Disclosure of Fees available in any branch office or online.

Documentation of Transfers
You can get a receipt at the time you make a transaction using an automated teller machine or point of sale device with a PIN. You should get a receipt each time you use your Northern Star Check Card without a PIN to purchase goods or services. It is suggested that you retain these receipts for comparison to the information provided on your statement of account.

Pre-Authorized Debits (ACH)
The Credit Union will accept pre-authorized debits received in your name through the ACH (Automated Clearing House) system. You must authorize these debits with the originator (a company or organization). The originator is responsible for giving a copy of the authorization to you and for keeping a copy of your authorization on file. Since these debits are normally directed to your checking account, some rules are the same as for written checks.

Unauthorized Debits
An unauthorized debit means a debit, which has been initiated by a company against your account without your written authorization. It may also be a debit, which is in an amount different than what you authorized, or a debit that was sent earlier than you authorized. If you believe you have an unauthorized debit, you must notify the sending company that you have revoked your authorization. You must also file an Affidavit with the Credit Union before we can return the debit. In order to receive immediate credit you must report the unauthorized debit to the Credit Union within 15 days from the date the information describing the debit is made available to you.

In Case of Error or Questions about Your Electronic Transfers
If you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement or receipt, please call 757-487-3474, write to Northern Star Credit Union at 5100 George Washington Hwy. Portsmouth, VA 23702, or send an email to www.nstarcu.org as soon as you can. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared. If your statement shows an electronic funds transfer that you did not make or authorize anyone to make, tell us at once. If you do not tell us within 60 days from the time the charge first appears on your statement, you will not get back any money you lost.

  • Provide us your name and account number.
  • 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.
  • Provide us the dollar amount of the suspected error.

In the case of a request for reimbursement for an unauthorized transaction, you agree to provide the Credit Union with an affidavit on the Credit Union’s form describing the nature of the loss. This determination could take up to 90 days.

If you notify us of an unauthorized Check Card transaction processed through the VISA network where no PIN was entered, we will provisionally credit your account within five (5) business days of the notification. We require written confirmation from you before providing provisional credit. We may withhold providing provisional credit, to the extent allowed under applicable law, if the circumstances or account history warrant the delay. We will notify you with the results within three (3) business days after completing our investigation. If it is determined that there was no error, a written explanation will be provided.

You will have no liability for unauthorized use of your check card or account information when the transaction is processed through the VISA network unless the card was handled negligently.

If your ATM card or check card is lost or stolen or used without your authorization at an ATM or point of sales device with a PIN you must tell us within 2 business days after you learn of the loss, theft or unauthorized use of your card or PIN. If we can prove we could have stopped someone from using your card or PIN without your permission if you had told us, you could lose all funds in your account.

FOREIGN TRANSACTIONS
Purchases and cash withdrawals made in foreign countries and foreign currencies will be billed to you in U.S. dollars. The conversion rate to dollars will be at (a) the wholesale market rate or (b) the government mandated rate, whichever is applicable, in effect one day prior to the processing date, increased by one percent.


VISA CREDIT CARD AGREEMENT

In this Agreement the words “you” and “your” mean each and all of those who apply for the card and accept this Agreement. “Card” means the VISA credit card and any duplicates and renewals we issue. “Account” means your VISA credit card line of credit account with the Credit Union. “We”, “us”, and “ours” means Northern Star Credit Union, Inc. or the “Credit Union”.

1. RESPONSIBILITY. You agree to repay all debts and the FINANCE CHARGE arising from the use of the Card account. For example, you are responsible for charges made by yourself, or anyone whom you authorize to use your Account. You are also responsible for charges made by anyone else to whom you give the Card, and this responsibility continues until the Card is recovered and all charges are paid. You cannot disclaim responsibility by notifying us, but we will close the account for new transactions if you so request and return all Cards. Your obligation to pay the account balance continues even though an agreement, divorce decree or other court judgement to which we are not a party may direct a joint user or any other person responsible under this Agreement to pay the Account. Any person using the Card is jointly responsible with you for charges he or she makes, but if that person signs the Card he or she becomes a party to this Agreement and is also jointly responsible for all charges on the account, including yours.

2. LOST CARD NOTIFICATION and LIABILITY FOR UNAUTHORIZED USE. You agree to notify us immediately at 800-528-2273, 24/7 of the loss, theft or unauthorized use of your Credit Card. You will not be liable for unauthorized transactions unless you were grossly negligent in the handling of the Account or Card.

3. CREDIT LIMIT. You agree not to let the account balance exceed the approved Credit Limit. By giving you written notice we may reduce your Credit Limit from time to time, revoke your Card and terminate this Agreement. Good cause includes your failure to comply with this Agreement at any time, but termination by either of us does not affect your obligation to pay the account balance. The Card(s) remain our property and you must recover and surrender to us all Card(s) upon our request and termination of this Agreement.

4. CREDIT INFORMATION. You authorize us to investigate your credit standing when opening, renewing or reviewing your account, and you authorize us to disclose information regarding your account to credit bureaus and other creditors who inquire of us about your credit standing, to the extent authorized by our Bylaws.

5. FACT ACT. Under the Fair and Accurate Credit Transactions Act of 2003 we are required to inform you the Credit Union may furnish information about your account to consumer reporting agencies. Such information as late payments, missed payments or other defaults on your account may be reflected in your credit report.

6. DEFAULT. You will be in default if you fail to make any Minimum Payment or other required payment by the date that is due. You will also be in default if your ability to repay us is materially reduced by a change in your employment, an increase in your obligations, bankruptcy or insolvency proceedings involving you, your death or your failure to abide by this Agreement or any other loan agreement with us. You will be in default if you make any false or misleading statements in any credit application or credit update. You will also be in default if something happens that the Credit Union believes may substantially reduce your ability to repay what you owe or if the value of the security interest materially declines. If you default, the entire principal, accrued interest, and all other applicable fees, cost and charges, if any, not yet paid of this account shall become due and payable at the option of the Credit Union. Each party hereto further agrees that if payment of this Account shall not be made as herein provided, he shall pay the costs of collection, including an attorney’s fee in an amount of 33 1/3% of the principal and interest due at the time the claim is referred to the attorney. The Credit Union can delay enforcing any of its rights under this Agreement without losing them.

7. SECURITY INTEREST and CROSS COLLATERALIZATION. Collateral securing other loans with us will also secure this credit card by the property described in those other security agreements. When your credit card is in default, the Credit Union has the right to take possession of any property given as security in those security agreements without judicial process. After we have possession of the property, we can sell it and apply the money to any amounts you owe us. You grant us a security interest in all individual and joint share and / or deposit accounts you have with us now and in the future to secure your credit card account. When you are in default, you authorize us to apply the balance in these accounts to any amounts due. Shares and deposits in an Individual Retirement Account, and any other account that would lose special tax treatment under state or federal law if given as security, are not subject to the security interest you have given in your shares and deposits. You give us a specific pledge of your credit union shares by signing a pledge of shares.

8. MONTHLY PAYMENT. We will mail you a statement every month showing your Previous Balance transfers and cash advances, the current transactions on your Account, the remaining credit available under your Credit Limit, the New Balances of purchases and cash advances, the Total New Balance, the FINANCE CHARGE due to date, other billed fees, and the Minimum Payment within 25 days of your statement closing date. By separate agreement, you authorize us to charge the Minimum Payment automatically to your share or share draft account with us. You may pay more frequently, pay more than the Minimum Payment, or pay the Total New Balance in full, and you will reduce the FINANCE Charge by doing so. The Minimum Payment will be either (a) 2% of your Total New Balance, or $20.00, whichever is greater, or (b) your Total New Balance, if it is less than $20.00; plus the amount of any prior minimum payments that you have not made, and any amount you are over your credit limit. We will apply your payments first to previously billed and unpaid FINANCE CHARGES on purchases; then to previously billed and unpaid FINANCE CHARGES on cash advances; any billed fees; then to previously billed purchases; then to cash advances, and then to new purchases, whether or not billed on the monthly statements. However, any payment equal to or greater than the Previous Balance of Purchases will be applied first to that balance and any Finance Charge thereon so as to avoid continuing accrual of FINANCE CHARGES on that amount. Purchases and cash advances will be paid off in the order they were posted to your account. If two or more purchases were posted on the same day, your payment will be applied to the smallest first.

9. FINANCE CHARGES on CASH ADVANCES. Cash advances are always subject to FINANCE CHARGES from the transaction date. FINANCE CHARGES are calculated at the daily periodic rate on the average daily principal balance. The daily periodic rate and ANNUAL PERCENTAGE RATE for cash advances corresponds to the following interest rates whichever applies to your account.

DAILY PERIODIC RATE (%)      ANNUAL PERCENTAGE RATE (%)
0.03011% 10.99%
0.03285 11.99
0.03559 12.99
0.04107 14.99
0.04655 16.99

10. FINANCE CHARGES on PURCHASES. FINANCE CHARGES begin to accrue on the day a credit purchase is posted to your account. You can avoid FINANCE CHARGES on purchases by paying the full amount of the new balance of purchases each month within 25 days of your statement closing date. FINANCE CHARGES are calculated at the monthly periodic on the average daily principal balance. The monthly periodic rate and the ANNUAL PERCENTAGE RATE for purchases will be one of the following whichever applies to your account.

DAILY PERIODIC RATE (%)      ANNUAL PERCENTAGE RATE (%)
0.91583%      10.99%
0.99917 11.99
1.08250 12.99
1.24917 14.99
1.41583 16.99

11. ADVISORY AGAINST ILLEGAL USE. You agree not to use your Card for illegal gambling or other illegal purposes.

12. RETURNS AND ADJUSTMENTS. Merchants and others who honor the Card may give credit for returns or adjustments, and they will do so by sending us a credit slip, which we will post to your account. If your credits and payments exceed what you owe us, we will hold and apply this credit balance against future purchases and cash advances, or if it is $1.00 or more, refund it on your written request or automatically after 6 months.

13. MERCHANT DISPUTES. We are not responsible for the refusal of any plan merchant or financial institution to honor your Card. We are subject to claims and defenses (other than tort claims) arising out of goods or services you purchase with the Card only if you made a good faith attempt, but have been unable to obtain satisfaction from the plan merchant, and (a) your purchase cost more than $50.00 and was made from a plan merchant in your state or (b) within 100 miles of your home. Any other disputes you must resolve directly with the plan merchant.

14. EFFECT OF AGREEMENT. This Agreement is the contract that applies to all transactions on your account even though the sales, cash advances, credit or other slips you sign or receive may contain different terms. We may amend this Agreement from time to time by sending you the advance written notice required by law. Your use of the Card thereafter will indicate your agreement to the amendments. To the extent the law permits, and we indicate in our notice, amendments will apply to your existing account balance as well as to future transactions where applicable. The Credit Union reserves the right to alter the terms of this Agreement and will give notice of any change in terms as required by applicable law.

15. FOREIGN TRANSACTIONS. Purchases and cash advances made in foreign countries and foreign currencies will be billed to you in U.S. dollars.

The conversion rate to dollars will be at (a) the wholesale market rate or (b) the government mandated rate, whichever is applicable, in effect one day prior to the processing date, increased by one percent.

See reverse side of Member Statement for important information regarding your rights to dispute billing errors.

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