Policies & Disclosures

Statement Disclosure

IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS…

Telephone us or write us at the phone number and address on the front of this statement as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we send you the FIRST statement on which the error or problem appeared. Tell us your name and account number (if any)

  • Describe the error on the transfer you are unsure about, and explain as clearly as you can why you believe there is an error or why you need more information.
  • Tell us the dollar amount of the suspected error.

We will investigate your complaint and will correct any error promptly. If we take more than 10 days to do this (5 days if error involves an off-line point-of-sale debit transaction), we will recredit your account for the amount you think is in error, so that you will have use of the money during the time it takes us to complete our investigation.

HOW FINANCE CHARGES ARE CALCULATED ON OVERDRAFT CHECKING AND LINES OF CREDIT

  1. Finance Charges

    Finance charges are imposed on principal advances under your line and begin to accrue on the day an advance is posted to your line: THERE IS NO GRACE PERIOD. We figure (a portion of) the finance charge on your account by applying the periodic rate to the “daily balance” of your account (including current transactions). To get the “daily balance” we take the beginning balance of your account each day, add any new (purchases/advances/loans), and subtract any payments or credits, (and unpaid finance charges), this gives us the daily balance.

  2. New Balance Calculation

    The New Balance shown on the face of this statement is calculated by (1) starting with the “Beginning Balance” (the New Balance from the previous month’s statement (2) subtracting total payments, and (3) adding total advances (including, if applicable, credit life premiums, check printing charges, return check charges, or any other miscellaneous charges outlined in your loan agreement) and (4) adding total finance charges.

  3. Payments

    The minimum periodic payment shown on the front of this statement:

    • will, in the case of OVERDRAFT CHECKING ACCOUNTS, be automatically deducted from your checking account at the end of each billing cycle, normally (30) days, or
    • must, in the case of LINE OF CREDIT ACCOUNTS, be delivered or mailed with the coupon section of this statement and check, money order or cash to the bank account.

    Payments shall be applied first to any unpaid finance charges and second to the principal balance outstanding.

  4. The periodic rate on your line of credit may vary.

IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR BILL

If you think your bill is wrong or if you need more information about a transaction on your bill, write us (on a separate sheet) at the address shown on your bill as soon as possible. We must hear from you no later than 60 days after we send you the first bill on which the error or problem appeared. You can telephone us, but doing so will not preserve your rights. In your letter give us the following information:

  • Your name and account number.
  • The dollar amount of the suspected error.
  • Describe the error and explain, if you can, why you believe there is an error. If you need more information, describe the item you are unsure about.

You do not have to pay any amount in question while we are investigating, but you still are obligated to pay the parts of your bill that are not in question. While we investigate your question, we cannot report you as delinquent or take actions to collect the amount in question.