• ACH Disclosure
• Checking Account Agreement
• Electronic Funds Transfers
• Fair and Accurate Credit Transactions
• Funds Availability Policy
• Improving Your Credit Score
• Truth in Savings Account Disclosure

Automated Clearing House (ACH) Disclosure

Provisional Payment:
Credit given by us to you with respect to an ACH credit entry is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive such final settlement, you are hereby notified and agree that we are entitled to refund the amount credited to you in connection with such entry, and the party making the payment to you via such entry (i.e. the originator of the entry) shall not be deemed to have paid you in the amount of such an entry.

Notice of Receipt of Entry:
Under the operating rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving your account, we are not required to give you next day notice to you of receipt of an ACH item and we will not do so. However, we will continue to notify you of the receipt of payment in periodic statements we provide to you.

Choice of Law:
We may accept on your behalf payments to your account which have been transmitted through one or more Automated Clearing Houses (ACH) and which are not subject to the Electronic Funds Transfer Act and your rights and obligations with respect to such payments shall be construed in accordance with and governed by the laws of the state of Wisconsin, as provided in the operating rules of the National Automated Clearing House, unless it has been otherwise specified in a separate agreement that the law of some other state shall govern.

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CHECKING ACCOUNT AGREEMENT

1. Only Check blanks and other methods approved by LCCU may be used to withdraw funds from this Checking Account.

2. LCCU is under no obligation to pay a check which exceeds the available balance in this Checking Account.

3. LCCU is under no obligation to pay a check on which the date is more than six (6) months old.

4. Under no circumstances will LCCU be liable for the payment or non- payment of a post-dated check unless given proper notice by the member.

5. LCCU is not liable for any action it takes regarding the payment or non- payment of a Check, as specified in this agreement.

6. Any objection regarding any item shown on a monthly statement of the Checking Account shall be waived unless made in writing to LCCU on or before the thirtieth (30 th) day following the date the statement is mailed.

7. All non-cash payments received for deposit in the Checking Account will be credited subject to final payment.

8. The Checking Account shall be subject to service charges in accordance with rate schedules adopted by LCCU from time to time. The current fee schedule has been provided to me (us).

9. We shall not be liable for accepting or paying any check drawn on your account that contains special instructions unless we have expressly agreed to the special instructions.

10. The Checking Account will not bear dividends at the rates announced from time to time.

11. In the event that payment of one or more checks presented would cause the Checking Account to be overdrawn, LCCU will transfer funds from the share savings account to cover the check and any fee disclosed on the fee schedule.

12. In the event that payment of one or more checks presented by any owner of this account would cause the Checking Account to be overdrawn, each account owner and/or signatory shall be liable for the overdraft(s) of any other owner and/or signatory; LCCU reserves the right to transfer monies from other accounts that the member or joint owner associated with in order to cover Non-sufficient funds (NSF) fees from the Checking account.

13. Each owner on the Checking Account shall be liable for checks written on the account regardless of the endorser.

14. To the full extent permitted by law, you agree to be liable for any loss incurred resulting from the loss or theft of checks. LCCU will not be responsible for any item that is altered or forged that a reasonable person cannot detect the alteration or forgery.

15. The use and operation of this Checking Account is subject to the by-laws of LCCU and to such other terms, conditions and requirements that LCCU may establish from time to time and will post notice or otherwise notify parties of any changes or amendments.

16. Except as otherwise provided, for purposes of this account, LCCU shall be deemed a “bank” for purposes of applying Chapter 404 of the WI Statutes.

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Electronic Funds Transfers Your Rights and Responsibilities

The Electronic Funds Transfers we are capable of handling are listed below, some of which may not apply to your account. Please read the disclosure carefully because it tells you of your rights and obligations for these transactions. You should keep this notice for future reference.

Types of Available Transfers and Limits

Account Access:
An access device (card including Debit and ATM, and/or code, including WEB, TEL, or the Automated Voice Teller) may be used to:

• Withdraw cash from checking or share saving accounts.

• Make deposits to checking or share savings accounts.

• Transfer funds between checking and share savings accounts upon request.

• Pay for purchases at places that have agreed to accept our access devices.

• Pay bills directly by telephone from your checking or savings accounts in the amounts and the days you request.

Preauthorized Transfers:
We are equipped to:

• Accept certain direct deposits to your checking/share savings accounts.

• Pay certain recurring bills from your checking/share savings accounts.

Electronic Check Conversion/Electronic Return Check Fees:
When you provide a check as payment, you authorize us either to use information from your check to make a one-time electronic funds transfer from your account or to process the payment as a check transaction. A fee, as outline in the fee schedule, will be charged for an electronic funds transfer if your payment is returned unpaid.

Limitations on Frequency of Transfers:

• Transfers from a share saving/checking account to another account or to third parties by preauthorized, automatic, or telephone transfers are limited to six transfers per month. This includes telephone bill payment services or point of sale transfer services. For security reason, there are limits on the number of transfers you can make.

• You may withdraw up to $205.00 from our terminals each 24 hour period.

• You may buy up to $225.00 worth of goods and services each 24 hour period with our point of sale transfer service.

• You may buy up to $500.00 worth of goods and services each 24 hour period with our debit card transfer service.

• We do charge a fee for some Electronic Funds Transfers and they are outlined in the current Fee Schedule.

• A fee may be imposed by an Automated Teller Machine (ATM) operator not holding the member’s account or by any national, regional, or local network used to complete the transaction.

• Our business days are Monday through Friday. Federal holidays are not included.

• Terminal Transfers:
  You can get a receipt at the time you make any transfer to or from your account using one of our ATM or point of sale machines.

• Direct Deposit:
  If you arrange to have direct deposit made to your account at least once every 60 days from the same person or company, you can call us at the telephone number listed on this website to find out whether or not the deposit has been made. Operator assisted calls are subject to fees outlined in the Fee Schedule.

• Periodic Statements:
  You will get a monthly account statement from us unless there is no transfer in a particular month. In any case, you will get a statement at least quarterly.

• If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here is how: Call or write us at the telephone number or address listed below in time for us to receive your request three business days or more before the payment is scheduled to be made. If you call, you will be required to complete a stop payment form and return it to us within 14 calendar days of your call. We will charge you a stop payment fee for each stop payment order you give as outlined in the Fee Schedule.

• If these regular payments may vary in amount, the person you are going to pay will tell you, 10 days before each payment, when it will be made and how much it will be. (You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set).

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

• If, through no fault of ours, you do not have enough available funds in your account to make the transfer.

• If the transfer would go over the credit limit on your overdraft line.

• If the ATM 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 transfer.

• If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions we have taken.

• There may be other exceptions in our agreement with you.

• Where it is necessary for completing transfers.

• In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant.

• In order to comply with government agency or court orders.

• If you give us written permission.

If you do not tell us within 2 business days after you learn of the loss or theft of your card and/or code and we can prove we could have stopped someone from using your card and/or code without your permission if you had told us, you could lose as much as $500.00.

Also, if your statement shows transfers that you did not make, 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 money of you told us in time.

If for good reason (such as a long trip or hospital stay) kept you from telling us, we will extend the time periods.

If you believe your card and/or code has been lost or stolen or that someone has transferred money from your account without permission, call or write us at the telephone number or address listed below.

1. Tell us your name and account number (if any)

2. 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

3. Tells us the dollar amount of the suspected error

If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.

We will tell you the results of our investigation 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 in writing and we do not receive it within 10 business days, we will 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 three 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 documentation that we used in our investigation.

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Fair and Accurate Credit Transactions

A new federal law took effect 12/01/2004, that requires Ladish Community Credit Union to provide the following notice to consumers before any “negative information” may be furnished to a nationwide consumer reporting agency.

We may report information about your account to credit bureaus.

Late payments, missed payments, or other defaults on your account may be reflected in your credit report.

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Funds Availability Policy

You are responsible for checks deposited that are returned to us unpaid and for any other problems involving your deposits, whether it is cash or checks.

Funds from any deposit made to an Automated Teller Machine (ATM) will not be available until the first business day after the day of deposit that we are open. The length of delay varies depending on the type of deposit and is explained below.

• Electronic Direct Deposits.

• Cash.

• Wire Transfers received before 5:00PM on any business day we are open.

• Local and verified payroll checks that are made payable to you.

• US Treasury checks that are made payable to you.

• Checks drawn on Ladish Community Credit Union.

• State and local government checks that are payable to you.

• Cashier’s, certified, and teller checks that are payable to you.

• Federal Reserve Bank checks, Federal Home Loan Bank checks, and postal money orders, if these items are payable to you.

If you do not make your deposit in person to one of our employees (for example, if you mail the deposit), funds from these deposits will be available on the first business day after the day we receive your deposit.

Other Checks Deposits
The delay for other check deposits depends on whether the check is a local or a non-local check. To see whether a check is local or non-local, look at the routing number on the check. If the first four digits of a routing number are 0710, 0711, 0712, 0719, 0730, 0739, 0750, 0759, 1040, 1041, 1049, 2710, 2711, 2712, 2719, 2730, 2739, 2750, 2759, 3040, 3041, or 3049 then the check is local. Otherwise, the check is a non-local check. Some checks are marked “payable through” and have a four-or-nine digit number nearby. For these checks, use the first four-digit number (or the first four digits of the nine-digit number), not the routing number on the bottom of the check to determine if these checks are local or non-local. Our policy is to make funds from local and non-local checks available as follows:

Local Checks
The first $100.00 from a deposit of local checks will be available on the same business day of your deposit. The remaining funds will be available on the second business day after the day of your deposit.

For example, if you deposit a local check of $700.00 on Monday, $100.00 of the deposit will be available on Monday to pay checks to others or to be withdrawn in cash. The remaining $600.00 is available on Wednesday.

For example, if you deposit a non-local check of $700.00 on Monday, $100.00 of the deposit will be available on Monday to pay checks to others or to be withdrawn in cash. The remaining $600.00 is available on Monday of the following week.

Local and Non-Local Checks
If you deposit both categories of checks, $100.00 from the checks will be available on the same day of your deposit, not $100.00 from each category.

Longer Delays May Apply
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 $5,000.00 on any one-day.

• You re-deposit 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 communication equipment.

Funds from electronic direct deposit, cash, and wire transfers to your account will be available on the day we receive the deposit. Funds from deposits of the first $5,000.00 of a day’s total deposit of cashier, certified, teller, traveler, federal, state and local government checks made payable to you will be available on the same business day of your deposit. The excess over $5,000.00 will be available on the ninth business day after the day of your deposit. If your deposit of these checks (other than a US Treasury check) is not made in person to one of Ladish Community Credit Union’s employees, the first $5,000.00 will not be available until the second business day after the day of your deposit.

Local and verified payroll checks are subject to same day availability. Funds from all other check deposit will be available on the tenth business day after the day of your deposit.

If we accept for deposit a check that is drawn on another bank, we may make the 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 deposit.

This availability policy only applies to funds deposited directly at Ladish Community Credit Union. Please inquire for information about the availability of funds deposited at other locations .

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Improving Your Credit Score

Your credit score – it's a number that probably has a much larger impact on your financial well-being than your wages do. You see, your credit score will help lenders determine if they will give you a loan or not and at what rate. Below are some tips on how to improve your score from Fair Isaac, the folks who determine your credit score. The important thing to remember is that there are no quick fixes. Improving your credit score is a matter of handling your credit in a consistently positive way. Read on to learn more.

Payment History Tips

• Pay your bills on time. Delinquent payments and collections can have a major negative impact on your FICO score.

• If you have missed payments, get current and stay current. The longer you pay your bills on time, the better your credit score.

• Be aware that paying off a collection account will not remove it from your credit report. It will stay on your report for seven years.

• If you are having trouble making ends meet, contact your creditors or see a legitimate credit counselor. This won't improve your credit score immediately, but if you can begin to manage your credit and pay on time, your score will get better over time.

Amounts Owed Tips

• Keep balances low on credit cards and other "revolving credit". High outstanding debt can affect a credit score.

• Pay off debt rather than moving it around. The most effective way to improve your credit score in this area is by paying down your revolving credit. In fact, owing the same amount but having fewer open accounts may lower your score.

• Don't close unused credit cards as a short-term strategy to raise your score.

• Don't open a number of new credit cards that you don't need, just to increase your available credit. This approach could backfire and actually lower your credit score.

Length of Credit History Tips

• If you have been managing credit for a short time, don't open a lot of new accounts too rapidly. New accounts will lower your average account age, which will have a larger effect on your score if you don't have a lot of other credit information. Also, rapid account buildup can look risky if you are a new credit user.

New Credit Tips

• Do your rate shopping for a given loan within a focused period of time. FICO scores distinguish between a search for a single loan and a search for many new credit lines, in part by the length of time over which inquiries occur.

• Reestablish your credit history if you have had problems. Opening new accounts responsibly and paying them off on time will raise your credit score in the long term.

• Note that it's OK to request and check your own credit report. This won't affect your score, as long as you order your credit report directly from the credit reporting agency or through an organization authorized to provide credit reports to consumers.

Types of Credit-Use Tips

• Apply for and open new credit accounts only as needed. Don't open accounts just to have a better credit mix – it probably won't raise your credit score.

• Have credit cards – but manage them responsibly. In general, having credit cards and installment loans (and paying timely payments) will raise your credit score. Someone with no credit cards, for example, tends to be higher risk than someone who has managed credit cards responsibly.

• Note that closing an account doesn't make it go away. A closed account will still show up on your credit report, and may be considered by the score.
  

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Truth in Savings - Share Savings Account

Minimum Membership Requirement (MMR). The minimum balance to open this account is a purchase of a $5.00 share in the credit union. An average daily balance of $100.00 must be maintained in order to earn the disclosed Annual Percentage Yield (APY).

Compounding and Crediting:
Dividends will be compounded and credited quarterly.

Check Cashing Requirements:
A disclosed check cashing fee will be charged to any account which does not maintain at least a $100 balance in this account or in combination of other share type accounts. Checks may only be cashed against a Share Savings or a checking account.

Transaction Limitations:
During any calendar month, you may not make more than six withdrawals or transfers to another credit union account or to a third party by means or pre-authorized or automatic transfers or the Automated Voice Response (AVR) system. No more than three of the six transfers may be made by check, draft, debit card or similar order to a third party. If you exceed the transfer limitations set forth, your account will be subject to disclosed fee.

Goal Setter Share Savings Account
Minimum Membership Requirement (MMR). The minimum balance to open this account is a purchase of a $5.00 share in the credit union. An average daily balance of $100.00 must be maintained in order to earn the disclosed Annual Percentage Yield (APY).

Compounding and Crediting:
Dividends will be compounded and credited quarterly.

Transaction Limitations:
Withdrawals are allowed once each quarter with no penalty.

Individual Retirement Share Savings Account (IRA)
Minimum Membership Requirement (MMR). The minimum balance to open this account is a purchase of a $5.00 share in the credit union. An average daily balance of $100.00 must be maintained in order to earn the disclosed Annual Percentage Yield (APY).

Compounding and Crediting:
Dividends will be compounded and credited quarterly.

Transaction Limitations: You may make deposits or withdrawals in varying amounts. Please review the IRA Trust Agreement or seek the advice of a qualified tax advisor for any subsequent tax consequences of any deposits or withdrawals. All IRAs are subject to the term and conditions contained in your IRA Trust Agreement provided to you upon opening an IRA account.

Real Estate Tax Savings Accounts:
The dividend rate and APY may change every year as determined by the Department of Financial Institutions (DFI).

Compounding and Crediting:
Dividends will be compounded and credited monthly. The dividend period is January 1 st though January 31 st. All other dividend periods will follow this same pattern.

Minimum Membership Requirement (MMR). The minimum balance to open this account is a purchase of a $5.00 share in the credit union. Dividends will be paid on the full amount of funds in this account. Only members with first mortgages held directly by Ladish Community Credit Union will be eligible for this account.

Transaction Limitations:
No withdrawals or transfer are permitted from this account except to pay for taxes and insurance on property securing your mortgage loan. All interested parties must mutually agree upon additional withdrawals from escrow accounts.

Transaction Limitation:
One withdrawal is permitted prior to the end of the club year (Christmas Club is the close of business on the last business day in October. Vacation Club is the close of business on the last business day in April). The ending balance in the club account will be transferred to your share savings account on the first business day after the close of the club’s year. Withdrawing from your club account will result forfeiture of any accrued dividends.

Rate Information:
The initial dividend declaration for the Christmas Club is November 1 st and for the Vacation Club is May 1st.

Compounding and Crediting:
Dividends will be compounded and credited monthly.

Rate Information:
No dividends will be paid on this account.

Transaction Limitations:
No transaction limitations apply to this account regarding deposits or withdrawals.

Over-drafting:
Funds will be transferred, for the fee disclosed, from the Share Savings account if the funds are not available at the time a check is presented in the checking account. Ladish Community Credit Union offers you the privilege of an additional $100 (including fees) that can be advanced to your checks or ACH transactions if the funds are not available to pay those items when presented for payment. There is a Non-sufficient funds fee of for any advance in any amount (please refer to fee schedule). Your account can remain negative for up to 30 calendar days before a deposit is needed to bring your account back to a positive balance. Only checks clearing though the Federal Reserve System are eligible. Checking accounts must be open for at least 90 days with total cumulative deposits of at least $400 per month. All transaction history must be favorable. Ladish Community Credit Union reserves the right to terminate this privilege for any member at any time. Balances in or deposits made into any share account, which the member is associated with, will be transferred to cover any negative balance in the account.

Certificate Terms:
Certificates will have an initial maturity date of six months, one year or two years.

Compounding and Crediting:
Dividends will be compounded and credited quarterly. Compounding will occur only if the dividends remain with the certificate.

Early Withdrawal Penalty:
We may impose a penalty if you withdraw any of the funds before the stated maturity date. The penalty will equal the loss of 90 days earnings on the entire account balance. Certificates marked special will be subject to a penalty equal to the loss of 365 days earnings on the entire account balance.

Renewal Policy:
Your certificate will automatically renew at maturity. You will have a grace period of ten calendar days after the maturity date to withdraw the funds from this account without being charged an early withdrawal penalty. Dividends will not be paid after the maturity date unless renewed. Certificates must be turned in prior to redemption.

The following disclosures apply to all accounts listed:

Balance Computation Method:
Dividends are calculated by the average daily balance method that applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period.

Accrual of Dividends:
Dividends will begin to accrue on the business day you deposit cash and/or non-cash items (checks) to your account.

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

Insurance:
Member’s accounts are federally insured by the National Credit Union Share Insurance Fund.

The minimum membership requirement (MMR) of $5.00 can not be used to clear checks, ACH, ATM, or debit card transactions.

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