Choice One Community Federal Credit Union
VISA® Summary of Terms
Annual
Percentage Rate for Purchases Cash Advances and Balance Transfers
Visa
Platinum: 8.90% A.P.R.
Visa Gold: 10.90% A.P.R.
Visa Classic: 13.50% A.P.R.
Grace
Period for Purchases
25
days
Annual
Fee
None
Transaction
Fee for purchases
None
Cash
Advance Fee
None
Late
Payment Fee
$25.00
Over-the-credit-limit-fee
$10.00
Minimum
Finance Charge
None
Method
of Computing the Balance for Purchases
Average
Daily Balance (including new purchases)
Application
fee
$5.00
A
$10.00 fee will be charged for any share drafts or checks returned
due to insufficient funds.
Enjoy
the low rate of 10.9% on Visa Gold purchases and cash advances
and 13.5% on Visa Classic purchases and cash advances when
you use your Credit Union Visa Card.
Eliminate
interest charges on purchases when you pay the balance in
full within the 25-day grace period.
Pay
off your existing charge cards, switch to a Credit Union
Visa Card, and save.
Use
your Credit Union Visa Card at more than ten million locations
worldwide.
Get
free Travel/Accident Insurance up to $400,000.
YOUR
ABILITY TO WITHDRAW FUNDS
This
policy statement applies to "transaction" accounts and
share savings accounts. Transaction accounts, in general, are accounts
which permit an unlimited number of payments to third persons and
an unlimited number of telephone and preauthorized transfers to
other accounts of yours with us. Share draft accounts are the most
common transaction accounts. Feel free to ask us whether any of
your other accounts might also be under this policy.
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 the funds are available, you can withdraw them
in cash and we will use the funds to pay checks that you have written.
Please remember that even after we have made funds available to
you, and you have withdrawn the funds, you are still responsible
for checks you deposit that are returned to us unpaid and for any
other problems involving your deposit.
For determining the availability of your deposits, every day is
a business day, except 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. However, if
you make a deposit after closing or on a day we are not open, we
will consider that the deposit was made on the next day we are open.
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.
If we accept for deposit a check that is drawn on another bank,
we may make funds from the deposit available for withdrawal immediately
but delay your availability
to withdraw a corresponding amount of funds that you have on deposit
in another account with us. The funds in the other account would
then not be available for withdrawal until the time periods that
are described elsewhere in this disclosure for the type of check
that you deposited.
LONGER DELAYS MAY APPLY
Case-by-case
delays. 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 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, 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.
Safeguard exceptions. 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 a failure of computer or commercial
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 eleventh
business day after the day of your deposit.
