Electronic Funds Transfer Policy

Electronic funds transactions handled by your credit union are listed below. Please read this list over very carefully to determine the services available to you and your rights and obligations for these transactions.

Each member who transfers funds through an electronic device agrees to be bound by Regulation E, the Electronic Funds Transfer Act, and all other rules and regulations which may govern such transfers. If you send or receive a wire transfer, Fedwire may be used. Wire transactions may be governed by the Uniform Commercial Code, Article 4A and/or Regulation J.

In this Disclosure and Agreement, "ATM" refers to Automated Teller Machine; "POS" refers to a point of sale card acceptance location where a retail sale is completed with the card; "terminal" refers to an ATM or POS; "card" refers to any ATM or POS access card issued to you; "transaction" refers to any transaction completed with your card, including deposits, purchases, withdrawals and transfers of funds. "You" or "your" refers to each person who has signed the Cash and Check Card Application or who uses your card with your consent. "We" or "us" means Latah Federal Credit Union. "Access code" means personal identification number (PIN), password or login.

Each Debit/ATM card is the property of Latah Federal Credit Union. You agree not to make or permit to be made any illegal transactions on your account through use of a card, a check, or in any other manner. Since we own the card(s), if we request that you return the card(s), you will give them back to us. We can change the terms or conditions of this agreement without notifying you unless the law requires us to tell you.

Member Liability

TELL US AT ONCE if you believe that your card or access code has been lost or stolen or if you believe that an electronic funds transfer has been made without your permission using information from your check. 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 can tell us within 2 business days after you learn of the loss or theft of your card or access code, you can lose no more than $50 if someone used your card or access code without your permission.

IF YOU DO NOT tell us within 2 business days after you learn of the loss or theft of your card or access code, and we can prove we could have stopped someone from using your card or access code 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, access code or other means, TELL US AT ONCE. If you do not tell us within 60 days after the statement was mailed to you,  you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us on time. 

Each member is required to safeguard their access code.  Access codes should not be carried anywhere in the wallet or purse or  written on the card. Latah Federal Credit Union may not be liable for fraud resulting from negligent or careless access code protection. If you fail to maintain the security of the access code and the credit union suffers a loss, we may terminate your ATM and account services immediately.

Contact in Event of Unauthorized Transfer
If you believe that your card or access code has been lost or stolen, call:
208-882-0232
or write to us at
Latah Federal Credit Union, Post Office Box 9286, Moscow, Idaho 83843-1786. 
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 check without your permission. If your card is lost or stolen, and the Credit Union can not be reached, please call the appropriate number  below to report your lost or stolen card:
Lost or Stolen Credit Cards 1-800-991-4964
Lost or Stolen Debit Cards 1-800-554-8969

Credit Union Business Days
For the purposes of these disclosures, our business days are Monday through Friday.  Holidays are not included.

Transfer Types and Limitations
Account Access. You may use your card or access code to:
•  Withdraw cash  from your checking or savings account.
•  Make deposits to your checking or savings account.
•  Transfers funds between your checking and savings accounts whenever you request.
•  Pay for purchases at places that have agreed to accept the card or access code.
•  Pay bills directly by telephone from your checking or savings account in the amounts and on the days you request.

Some of these services may not be available at all terminals.

Electronic Check Conversion/Electronic Returned Check Fees
If you pay for purchases or bills with a check or share draft, you may authorize your check or share draft to be converted to an electronic funds transfer. You may also authorize merchants or other payees to electronically debit your account for returned check fees.

Limitations on Dollar Amounts of Transactions
A member may withdraw up to $400 per day at an ATM. This $400 limit is per base account number (excluding suffixes). Thus, co-account holders may only withdraw a combined maximum amount of $400 per day, from 5:30 p.m. to 5:30 p.m.,  Pacific standard time.

Transactions not requiring a PIN may be made up to the available balance for goods and services from merchants who accept our cards. Available balance is defined as the balance in a member’s checking account plus the available balance of the member’s Overdraft Protection line of credit, if applicable. Overdraft Protection loans must be applied for and approved through the loan department.

A cardholder may purchase up to the available balance as defined above, or a daily limit of $2500.00, whichever is less, with a PIN based transaction.

Charges on EFT Transactions
To obtain a Debit/ATM Card, a member must open a checking account and maintain a minimum of $100 in a Regular Savings Account.

Two cards may be provided free of charge with each base account number.  Additional and/or replacement cards provided  before the expiration date of the current card will be subject to a fee of $6 per card.

Replacing a lost Debit/ATM card costs $6.

Reissuing a lost PIN costs $6.

A cardholder’s account will be charged $25 should it be necessary to capture his or her card.

Cardholders may make five ATM withdrawals per calendar month without incurring a fee; each additional withdrawal made during the calendar month is assessed a fee of $1.

Cardholders may make five ATM balance inquiries per calendar month without incurring a fee; each additional inquiry made during the calendar month is assessed a fee of $1.

Withdrawals made in excess of available funds are subject to a fee of $25.

There is no transaction fee associated with overdraft protection transfers from a line of credit.

When you use an ATM not owned by us, you may be charged a fee by the ATM operator or any network used and you may be charged a fee for a balance inquiry even if you don’t complete a funds transfer.

Transfers and deposits conducted at an ATM are free of charge.

Foreign Transaction Fees on Debit Cards
When a VISA Debit Card transaction is made in a foreign country, a 1% International Transaction Fee will be assessed on all transactions where the merchant country differs from the country of the card issuer. The International Transaction Fee may or may not be shown separately from the converted transaction amount on your billing statement. This fee will be assessed on all international purchases, credit vouchers, and cash disbursements initiated with your debit card.

The exchange rate for transactions in a foreign currency will be 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 plus the 1% International Transaction Fee. This means the exchange rate on the day of your transaction may differ from the rate you receive when the transaction is processed by VISA.

Latah Federal Credit Union has elected  not to make any additional adjustments to the VISA exchange rate.  The fee charged by VISA, (1% of the transaction amount) is what is passed on to the member.

In order to protect our members and the credit union from fraud losses, you will be unable to use your VISA debit or credit cards in the following countries:  Bulgaria, China, East Timor, Estonia, Hong Kong, Japan, Lithuania, Malaysia, Morocco, Nigeria, North Korea, Poland, Romania, Singapore, South Korea, Taiwan, Thailand, Turkey and Ukraine.  This list can change at any time, please check with the credit union. VISA may place a security block on your card using past behavior to expected behavior when you travel outside the United States. We may be able to help prevent this if you contact us when you are going to travel.

If you are traveling in a foreign country, VISA Travel Money Cards will  still work in these countries and are available for purchase at our branches.

Documentation of Transactions
You will receive a receipt from an ATM when you make a transaction. If you have arranged to have direct deposits made to your account(s) at least once every sixty days from the same person or company, you can call us to find out whether or not the deposit has been made.

Periodic Statements
You will get a monthly account statement unless there are no transfers in a particular month. In any case you will get the statement at least quarterly. 

Right to Stop Payment
If you have told us in advance to make regular payments out of your account, you can stop any of these payments by following these instructions:

Call or write to us in time for us to receive your request 3 business days or more before the payment is scheduled to be made.  If you call, we may also require you to put your request in writing and get it to us within 14 days after you call.  We will charge you for each stop payment order you give.

If you order us to stop one of these payments 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

Financial Institution’s Liability
If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages.  However, there are some exceptions.  We will not be liable, for instance:
•  If, through no fault of ours, you do not have enough money in your account (or sufficient collected funds) to make the transfer.
•  If the transfer would go over the credit limit on your overdraft line.
•  If the automated teller machine where you are making the transfer does not have enough cash.
•  If the terminal or system was not working properly and you knew about the breakdown when you started the transaction.
•  If circumstances beyond our control, such as a fire or flood, prevent the transaction, despite reasonable precautions that we have taken.
•  If we have received incorrect or incomplete information from you or from third parties (i.e., the U.S. Treasury, an automated clearing house, or a terminal owner).
•  If failure to complete the transaction is done to protect the security of your account and/or the electronic terminal system.
•  There may be other exceptions stated in our agreement with you.

Confidentiality
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 your written permission.

Error Resolution
In case of errors or questions about your electronic transfers,  telephone us or write to us 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 the statement or receipt. We must hear from you no later than sixty days after we sent you the FIRST statement on which the error or problem occurred.  Tell us your name and account number, describe the error or the transaction you are unsure about, and clearly explain why you believe it is an error or why you need more information.  Tell us the dollar amount of the suspected error.  If you notify us orally, we may require that you send us your complaint or question in writing within 10 business days.

We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly.  If we need more time, however, we may take up to  45 days to investigate your complaint or question.  If we decide to do this, we will credit your account 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 us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account.

For errors involving new accounts, point of sale, or foreign initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.
We will tell you the results within 3 business days after completing our investigation.  If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

Funds Availability Policy
Our policy is to make funds from your deposits available to you on the first business day after the day we receive your deposit.  Electronic 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 before closing on a business day that we are open, we will consider that day to be the day of your deposit.  If you make a deposit after closing, or on a day we are not open, however, we will consider that the deposit was made on the next business day we are open.

Funds deposited at Credit Union Shared Branching Service Centers may not be available for immediate withdrawal.  Holds are typically not placed on pre-printed payroll or government issued checks; however, there may be exceptions.  All other items will have holds placed from 2 to 5 business days, including cashier’s checks.  Shared Branches cannot remove a hold placed on deposits.

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 fifth business day after the day of your deposit.  The first $100 of your deposit, however, will be available on the first business day after the day we receive the deposit.

If we are not going to make all of the funds from your deposit available on the first business day after the day we receive the deposit, we will tell 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 $5000 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.
•  The draft you are depositing is drawn on a credit card account or insurance settlement.

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 tenth business day after the day of your deposit.

Special Rules for New Accounts
If you are a new member, the following special rules will apply during the first 30 days your account is opened.  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 $5000 of a day’s 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 the deposit if the deposit meets certain conditions.  For example, the checks must be payable to you.  The excess of $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 $5000 will not be available until the second business day after the day of your deposit.  Funds from all other check deposits will be available on the tenth business day after the day of your deposit.