Disclosures

Mohave Community Federal Credit Union

Truth in Savings Disclosure 2024

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Basic Checking Account (Share Draft)
Minimum balance requirements:

The minimum balance required to open this account is $100.00.

Transaction limitations:

The maximum automated teller machine withdrawal we allow is $400.00 per day. A monthly service fee of $6.00 will be charged to your account. (Fee waived with average daily balance of $500.00.)

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Business Checking Account (Share Draft)
This account is not a consumer account to which Truth in Savings applies.

Minimum Balance Requirements:

The minimum balance required to open this account is $100.00.
Service Fee:

The monthly service charge is $16.00.  (Fee waived with average daily balance of $1000.00.)

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55 Plus Checking Account

(55 years of age or older)
Minimum Balance Requirements:

The minimum balance required to open the checking account is $100.00.

Transaction limitations:

The maximum automated teller machine withdrawal we allow is $400.00 per day.

A monthly service fee of $6.00 will be charged to your account.  (Fee waived with average daily balance of $500.00.)

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Share Savings Account

Rate Information:

The dividend rate and annual percentage yield may change at any time.  We may change the dividend rate for your account as determined by the credit union board of directors.

Compounding and Crediting – Dividends will be compounded every quarter.  Dividends will be credited to your account every quarter.

Dividend Period – For this account type, the dividend period is quarterly, for example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is March 31.  All other dividend periods follow this same pattern of dates.  The dividend declaration date is the last day of the dividend period, and for example above is March 31. If you close your share account before dividends are paid, you will not receive the accrued dividends.

Minimum balance requirements:

You must maintain a minimum average daily balance of $50.00 in your account to avoid a below share minimum balance fee. If, during any month, your average daily balance is below the required minimum, your account will be subject to a below share minimum balance fee of $7.50 for that month. The minimum balance to open this account is $50.00. You must maintain a minimum average daily balance of $50.00 in your account in order to obtain the disclosed annual percentage yield.

Average Daily Balance Computation Method – Dividends are calculated by the average daily balance method which 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.  The period we use is the statement cycle.

Accrual of Dividends on Noncash Deposits – Dividends will begin to accrue on the business day you place non cash items (for example, checks) to your account.

Transaction Limitations:

During any month, you may not make more than six withdrawals or transfers to another credit union of yours or to a third party by means of a preauthorized or automatic transfer, computer transfer, or telephonic order or instruction.  No more than three of the six transfers may be made by check, draft, or similar order to a third party.  If you exceed the transfer limitations set forth above, your account will be subject to closure by the credit union.

Fees and Charges:

If you exceed 6 withdrawals per month, $6.00 will be charged per withdrawal.

Par Value of a Share:

The par value of a share in this account is $5.00.

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Money Market Saver Account

 Rate Information:

The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.

Compounding and Crediting – Dividends will be compounded and credited to your account every quarter.

Dividend Period – for this account type, the dividend period is quarterly, for example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is March 31. All other dividend periods follow this same pattern of dates.  The dividend declaration date is the last day of the dividend period and for the example above is March 31.

Minimum Balance Requirements:

The minimum balance required to open this account is $1000.00. You must maintain a minimum daily balance of $1000.00 in your account to avoid a service charge fee.  If, during any month, your account balance falls below the required minimum daily balance, your account will be subject to a service charge fee of $12.00 for that month. You must maintain a minimum average daily balance of $1000.00 in your account to obtain the disclosed annual percentage yield.

Average Daily Balance Computation Method- Dividends are calculated by the average daily balance method which 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.  The period we use is the monthly statement cycle.

Accrual of Dividends on Noncash Deposits – Dividends will begin to accrue on the business day you place non cash items (for example, checks) to your account.

Transaction Limitations:

During any month, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a pre-authorized or automatic transfer, computer transfer, or telephonic order or instruction.  No more than three of the six transfers may be made by check, draft, or similar order to a third party.  If you exceed the transfer limitations set forth above, your account will be subject to closure by the credit union.

Fees and Charges:

An excess draft fee of $10.00 will be charged for each draft in excess of six during a month.

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Mohave Youth Account

Rate Information:

The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.

Compounding and Crediting – Dividends will be compounded every quarter.  Dividends will be credited to your account every quarter.

Dividend Period – For this account type, the dividend period is quarterly, for example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is March 31.  All other dividend periods follow this same pattern of dates.  The dividend declaration date is the last day of the dividend period, and for the example above is March 31. If you close your account before dividends are paid, you will not receive the accrued dividends.

Minimum Balance Requirements:

The minimum balance required to open this account is $5.00.

Average Daily Balance Computation Method – Dividends are calculated by the average daily balance method which 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.  The period we use is the statement cycle.

Accrual of dividends of non-cash deposits – Dividends will begin to accrue on the business day you place non cash items (for example, checks) to your account.

Transaction Limitations:

During any statement period, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a pre-authorized or automatic transfer, computer transfer, or telephonic order or instruction.  No more than three of the six transfers may be made by check, draft, debit card (if applicable), or similar order to a third party.  If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the credit union.  If you exceed six withdrawals per month, a fee of $6.00 per withdrawal will be charged.

Par Value of a Share:

The par value of a share in this account is $5.00.

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Holiday Club Account

Rate Information:

The dividend rate and annual percentage yield may change at any time.  We may change the dividend rate for your account as determined by the credit union board of directors.

Compounding and Crediting – Dividends will be compounded at maturity.  Dividends will be credited to your account at maturity.

Dividend Period – For this account type, the dividend period is yearly, for example, the beginning date of the first dividend period of the calendar year is November 15, and the ending date of such dividend period is October 31 of the following year.  All other dividend periods follow this same pattern of dates.  If you close your club account before dividends are paid, you will not receive the accrued dividends.

Minimum Balance Requirements:

No minimum balance requirements apply to this account.

Daily Balance Computation Method – Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Accrual of Dividends on Noncash Deposits – Dividends will begin to accrue on the business day you place non cash items (for example, checks) to your account.

Transaction Limitations:

You may not make any withdrawals or transfers to another credit union account of yours or to a third party by means of a pre-authorized or automatic transfer, telephonic order or instruction, or similar order to a third party.  If any withdrawal is made from this account before October 31, then this account may be closed, and a $25.00 early withdrawal fee will be assessed.

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Vacation Club Account
Rate Information:

The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors.

Compounding and Crediting – Dividends will be compounded every quarter. Dividends will be credited to your account every quarter.

Dividend Period – For this account type, the dividend period is quarterly, for example, the beginning date of the first dividend period of the calendar year is January 1, and the ending date of such dividend period is March 31.  All other dividend periods follow this same pattern of dates.  The dividend declaration date is the last day of the dividend period, and for the example above is March 31. If you close your account before dividends are paid, you will not receive the accrued dividends.

Minimum Balance Requirements:

No minimum balance requirements apply to this account.

Average Daily Balance Computation Method – Dividends are calculated by the average daily balance method which 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. The period we use is the quarter.

Accrual of Dividends on Noncash Deposits – Dividends will begin to accrue on the business day you place non cash items (for example, checks) to your account.

Transaction Limitations:

No more than six withdrawals are allowed each month.  You may not make any withdrawals or transfers to another credit union account of yours or to a third party by means of a pre-authorized or automatic transfer, telephonic order or instruction, or similar order to a third party.

Fees and Charges:

A withdrawal fee of $6.00 will be charged for each withdrawal in excess of six during a month.

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Term Share Certificate

Compounding Frequency – Unless otherwise paid, dividends will be compounded quarterly.

Crediting Frequency – Dividends will credit to your account quarterly. Alternatively, you may choose to have dividends paid to you or to another account every month rather than credited to this account.

Effects of Closing an Account – If you close your account before the dividends are paid. You will not receive the accrued dividends.

Minimum Balance Requirements: The minimum balance required to open this account is $500.00. You must maintain a minimum daily balance of $500.00 in your account each day to obtain the disclosed annual percentage yield.

Daily Balance Computation Method – Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Accrual of Dividends on Noncash Deposits – Dividends will begin to accrue on the business day you place non cash items (for example, checks) to your account.

Transaction Limitations:

After the account is opened, you may not make additions into the account until the maturity date stated on the account.  You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal.  Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty.  You can only withdraw dividends credited in the term before maturity of that term without penalty.  You can withdraw dividends only on the crediting dates.  This dividend withdrawal limitation does not apply if you have made arrangements to have dividends paid to you or to another account in lieu of having them credited to this account.

Early Withdrawal Penalties (a penalty may be imposed for withdrawals before maturity) –

• if your account has an original maturity of one year or less:

The penalty we may impose will equal 90 days dividends on the amount withdrawn subject to penalty.

• if your account has an original maturity of more than one year:

The penalty we may impose will equal six months dividends on the amount withdrawn subject to penalty.

In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.  Other exceptions may also apply, for example, if this is part of an IRA or other tax-deferred savings plan.

Withdrawal of Dividends Prior to Maturity – The annual percentage yield is based on an assumption that dividends will remain in the account until maturity.  A withdrawal will reduce earnings.

Automatically renewable account – This account will automatically renew at maturity. You may prevent renewal if we receive written notice from you before maturity of your intention not to renew or you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any). If you prevent renewal, our funds will be placed in a dividend-bearing account. Each renewal term will be the same as the original term, beginning on the maturity date. The dividend rate will be the same we offer on the new term share accounts on the maturity date which have the same term, minimum balance (if any) and other features as the original term share account.
You will have a grace period of ten calendar days after maturity to withdraw the funds without being charged an early withdrawal penalty.

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IRA Term Share Certificate

Compounding frequency – dividends will be compounded quarterly.

Crediting frequency – dividends will credit to your account quarterly.

Dividend period – for this account type, the dividend period is quarterly.

Minimum balance requirements:
The minimum balance required to open this account is $500.00

Daily balance computation method – dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Accrual of dividends on non-cash deposits – dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.

Transaction Limitations:

After the account is opened, you may not make additions into the account until the maturity date stated on the account.  You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal.  Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty.  You cannot withdraw dividends from your account before maturity.

Early Withdrawal Penalties (a penalty may be imposed for withdrawals before maturity) –

• if your account has an original maturity of one year or less:

The penalty we may impose will equal 90 days dividends on the amount withdrawn subject to penalty.

• if your account has an original maturity of more than one year:

The penalty we may impose will equal six months dividends on the amount withdrawn subject to penalty.

In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.  Other exceptions may also apply, for example, if this is part of an IRA or other tax-deferred savings plan.

Automatically renewable account – This account will automatically renew at maturity. You may prevent renewal if we receive written notice from you before maturity of your intention not to renew or you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any). If you prevent renewal, our funds will be placed in a dividend-bearing account. Each renewal term will be the same as the original term, beginning on the maturity date. The dividend rate will be the same we offer on the new term share accounts on the maturity date which have the same term, minimum balance (if any) and other features as the original term share account.
You will have a grace period of ten calendar days after maturity to withdraw the funds without being charged an early withdrawal penalty.

Common Features

Transaction limitation – we reserve the right to at any time require not less than seven days’ notice in writing before each withdrawal from an interest-bearing account other than a time deposit or demand deposit, or from any other savings account as defined by regulation D.
Nature of dividends – dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. (This disclosure further explains the dividend feature of your non-term share account(s).)
The following fees may be assessed against your account.
National Credit Union Share Insurance Fund – Member accounts in this credit union are federally insured by the National Credit Union Share Insurance Fund.

The following fees may also be assessed against your account:

Draft printing – fee depends on style and quantity of draft ordered.
Please refer to our separate fee schedule for additional information about charges.
The categories of transactions for which an overdraft fee may be imposed are those by any of the following means: share draft, in-person withdrawal, ATM withdrawal, or other electronic means.

USA PATRIOT ACT

Important information about opening a legal entity account:

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Section 326 of the USA Patriot Act requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account for a covered Legal Entity. New rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats.

Each time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (name, address, date of birth, social security number and identification documents) for:

• Each individual that has beneficial ownership (25% or more) in the Legal Entity; and

• One individual that has significant managerial responsibility for the Legal Entity.

We proudly support all efforts to protect and maintain the security of our customers and our country.

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We Do Business in Accordance with Federal Fair Lending Laws

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UNDER THE FEDERAL FAIR HOUSING ACT, IT IS ILLEGAL, ON THE BASIS OF RACE,

COLOR, NATIONAL ORIGIN, RELIGION, SEX, HANDICAP, OR FAMILIAL STATUS

(HAVING CHILDREN UNDER THE AGE OF 18) TO:

• Deny a loan for the purpose of purchasing, constructing, improving, repairing or maintaining a

dwelling, or deny any loan secured by a dwelling: or

• Discriminate in fixing the amount, interest rate, duration, application procedures or other terms or

conditions of such a loan, or in appraising property.

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IF YOU BELIEVE YOU HAVE BEEN DISCRIMINATED AGAINST,

YOU SHOULD SEND A COMPLAINT TO:

Assistant Secretary for Fair Housing and Equal Opportunity

Department of Housing & Urban Development, Washington, D.C. 20410

For processing under the Federal Fair Housing Act

AND

National Credit Union Administration

Office of Examination and Insurance

Washington, D.C. 20456

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 UNDER THE EQUAL CREDIT OPPORTUNITY ACT, IT IS ILLEGAL

TO DISCRIMINATE IN ANY CREDIT TRANSACTION:

• On the basis of race, color, national origin, religion, sex, marital status, or age

• Because income is from public assistance, or

• Because a right was exercised under the Consumer Credit Protection Act.

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 IF YOU BELIEVE YOU HAVE BEEN DISCRIMINATED AGAINST,

YOU SHOULD SEND A COMPLAINT TO:

National Credit Union Administration

Office of Examination and Insurance

Washington, D.C. 20456

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Our Commitment to Privacy

What does Mohave Community Federal Credit Union do with your personal information?

Mohave Community Federal Credit Union Privacy Policy

Why?	Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
What?	The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number Credit scores Transaction or loss history Overdraft history Credit history Employment information
How?	All financial companies need to share members’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their member’s personal information; the reasons Mohave Community Federal Credit Union chooses to share; and whether you can limit this sharing.
Reasons we can share your personal information	Does Mohave Community Federal CU share?	Can you limit this sharing?
For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus	Yes	No
For our marketing purposes – to offer our products and services to you	No	We don’t share
For our affiliates’ everyday business purposes – information about your transactions and experiences	No	We don’t share
For our affiliates’ everyday business purposes – information about your creditworthiness	No	We don’t share
For our affiliates to market to you	No	We don’t share
For non-affiliates to market to you	Yes	Yes

To Limit Our Sharing	Print and mail this form in by clicking HERE Please note: If you are a new member, we can begin sharing your information 30 days from the date we sent this notice. When you are no longer a member, we continue to share your information as described in this notice. However, you can contact us at any time to limit our sharing.
Questions?	Call 928-753-8000
What We Do
How does Mohave Community Federal Credit Union protect my personal information?	To protect your personal information from unauthorized access and use, we use security measures that comply with federal law.  These measures include computer safeguards and secured files and buildings.
How does Mohave Community Federal Credit Union collect my personal information?	We collect your personal information, for example, when you Open an account Deposit money Make deposits or withdrawals from your account Give us your contact information Pay us by check We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.
Why can’t I limit all sharing?	Federal law gives you the right to limit only sharing for affiliates’ everyday business purposes – information about your creditworthiness affiliates from using your information to market to you sharing non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing.  See below for more on your rights under state law.
What happens when I limit sharing for an account I hold jointly with someone else?	Your choices will apply to everyone on your account.
Definitions
Affiliates	Companies related by common ownership or control.  They can be financial and non-financial companies. Mohave Community Federal Credit Union has no affiliates.
Non-affiliates	Companies not related by common ownership or control.  They can be financial and non-financial companies. Non-affiliates we share with can include CUNA.
Joint Marketing	A formal agreement between non-affiliated financial companies that together market financial products or services to you. Mohave Community Federal Credit Union doesn’t jointly market.

Other Important Information

For Alaska, Illinois, Maryland and North Dakota Members.  We will not share personal information with non-affiliates either for them to market to you or for joint marketing – without your authorization. For California Members.  We will not share personal information with non-affiliates either for them to market to you or for joint marketing – without your authorization.  We will also limit our sharing of personal information about you with our affiliates to comply with all California privacy laws that apply to us. For Massachusetts, Mississippi and New Jersey Members.  We will not share personal information from deposit or share relationships with non-affiliates either for them to market to you or for joint marketing – without your authorization. For Vermont Members.  We will not share personal information with non-affiliates or for joint marketing about your creditworthiness without your authorization.

FEDERALLY INSURED BY NCUA

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Your Ability to Withdraw Funds

 

Mohave Community Federal Credit Union Electronic Fund Transfers Disclosure (Regulation E)
Certain exempt loans and accounts are not provided with customer protection under Regulation Z and Regulation E.
Contact us for specific information, should you have a question pertaining to your accounts.

This document explains your rights and responsibilities regarding electronic fund transfers (EFTs) involving your account(s) at Mohave Community Federal Credit Union. Please read it carefully and keep it for future reference.

Types of Electronic Fund Transfers

You may authorize electronic transfers to or from your account in a variety of ways. These may be one-time or recurring and can be processed through the Automated Clearing House (ACH), debit card networks, or other payment systems. Examples include:

• Direct deposits to your checking or savings account
• Recurring payments from your account to pay bills
• Telephone transfers completed through the Credit Union’s CU24 Line 
• One-time electronic payments using information from your check or draft
• Electronic charges initiated by a merchant to collect a fee for a returned check
• Person-to-person (P2P) payments using services such as Zelle® or other platforms when linked to your account
• Consumer initiated electronic transfer (TransferNow within online banking platform)
• Online bill payments initiated through our online banking system
• Loan payments made by phone using a debit card from another financial institution
• Recurring loan payments set up to debit your account at another financial institution

If you use Zelle® or similar services, your transactions may be subject to additional terms and conditions provided by the service provider. These payments are considered electronic fund transfers under federal law and are covered by Regulation E protections when linked to your deposit account.

Provisional Credit Notice

Any credit Mohave Community Federal Credit Union provides for an ACH deposit is provisional until final settlement is received from the Federal Reserve Bank. If settlement does not occur, we reserve the right to reverse the credit. The originator of the payment is not considered to have paid you until final settlement is complete.

ACH Notification

We are not required to notify you the next day when an ACH deposit is received. Instead, you will be informed through your regular account statements.

Governing Law

Certain ACH transactions may not be covered by the Electronic Fund Transfer Act. In such cases, your rights and obligations will be governed by applicable federal law and the laws of the State of Arizona, as permitted by the ACH network’s operating rules.

Consumer Liability

Notify us immediately if your card or PIN is lost or stolen, or if you suspect unauthorized use of your account. Prompt reporting helps limit your potential losses.

• If you notify us within two business days, your liability is limited to $50
• If you delay beyond two business days and we can show that earlier notice would have prevented unauthorized use, your liability may increase up to $500
• If your statement shows unauthorized transfers and you do not report them within 60 days, you may not recover funds lost after that period unless extenuating circumstances prevented timely notice

VISA® Debit Card Liability Protection

You are not liable for unauthorized transactions using your lost or stolen VISA® Debit Card, provided you have not acted fraudulently or with gross negligence. This protection does not apply to ATM transactions outside the U.S., transactions not processed through Visa or Plus networks, or PIN-based transactions not routed through Visa.

Reporting Unauthorized Transfers

To report a lost or stolen card or suspected unauthorized transaction, contact us at (928) 753-8000, email info@mohavecommunityfcu.com, or write to:

Mohave Community Federal Credit Union 2809 Stockton Hill Road Kingman, AZ 86409

Business Days

Our business days are Monday through Friday, excluding federal holidays.

ATM Transactions and Services

You may use your ATM Card or VISA® Debit Card with your PIN to:

• Make deposits to checking or savings accounts 
• Transfer funds between accounts
• Pay bills by phone
• Make purchases at participating merchants
• Check account balances

Some services may not be available at all terminals.

ATM Fees

If you use an ATM not owned by Mohave Community Federal Credit Union, you may be charged a fee by the ATM operator or network. This may include fees for balance inquiries.

Point-of-Sale Transactions

You may use your VISA® Debit Card to:

• Purchase goods or services in person, online, or by phone
• Obtain cash from merchants or participating financial institutions

Transaction limits are disclosed when your card is issued.

Currency Conversion

If you use your card at a merchant that settles in a foreign currency, the amount will be converted to U.S. dollars using a rate selected by Visa or a government-mandated rate. The rate may differ from the rate on the transaction or posting date.

Prohibited Use

You agree not to use your card for illegal gambling or other unlawful purposes. The presence of a payment card logo does not guarantee legality in all jurisdictions.

Non-Visa Debit Transactions

Your card may be used on non-Visa networks such as STAR. These transactions may not require a PIN and may be authenticated using information from your relationship with the biller. Visa-specific protections do not apply to non-Visa transactions.

Online Banking and Bill Pay

You may access your account online at MCFCU Online Banking using your Log on ID and Password

• Transfer funds between accounts
• Make loan payments
• View balances, deposits, withdrawals, dividends, and loan details
• Pay bills using our online bill pay service
• Make Person to Person Payments

Online bill payments are considered electronic fund transfers and are protected under Regulation E when linked to your deposit account.

Telephone Access (CU24 Line)

You may access your account by phone 24/7 using your member number and PIN through our CU24 Line system to:

• Transfer funds between accounts
• Make loan payments
• Check balances, deposits, withdrawals, dividends, and loan details

Transfer Frequency Limits

Certain transfers may be subject to frequency limits under federal regulations or account agreements.

Fees

We do not charge for direct deposits or preauthorized payments. Refer to our separate fee schedule for any applicable charges, including stop payment fees.

Minimum Balance

No minimum balance (other than $50 in the shares account) is required to use your card for transfers, but you must have the funds available

Confidentiality

We may share information about your account or transactions only when necessary to:

• Complete a transfer
• Verify account details for a credit bureau or merchant
• Comply with legal orders
• Fulfill your written authorization
• As described in our privacy policy

Receipts and Statements

• You will receive a receipt at the time you make any transfer to or from your account using an automated teller machine (ATM) or point-of-sale terminal. However, a receipt may not be provided if the transaction amount is $15 or less.
• You may call us to confirm recurring direct deposits
• Monthly statements are provided for checking accounts
• Savings account statements are issued monthly if there is activity, and at least quarterly

Stopping Preauthorized Payments

To stop a scheduled payment, contact us at least three business days before the payment date:

Phone: (928) 753-8000 Email: info@mohavecommunityfcu.com Mail: Mohave Community Federal Credit Union 2809 Stockton Hill Road Kingman AZ 86401

We may ask you to confirm your request in writing within 14 days. A stop payment fee may apply—see our fee schedule.

Varying Payment Amounts

If your recurring payments vary, the payee must notify you at least 10 days before each payment. You may opt to receive notice only when the amount differs significantly or falls outside a set range.

Failure to Stop Payment

If you request a stop payment in time and we fail to act, we will be responsible for any resulting losses or damages.

Credit Union Liability

We are responsible for completing transfers accurately and on time. We are not liable if:

• Your account lacks sufficient funds
• The transfer exceeds your overdraft limit
• The ATM lacks sufficient cash
• The system was down and you were aware of it
• Circumstances beyond our control prevent the transfer
• You provide incorrect or incomplete information
• Other exceptions apply as stated in your agreement

Error Resolution Procedures

If you believe an error occurred or need more information about a transaction:

Contact us within 60 days of the statement date showing the issue. Phone: (928) 753-8000 Email: info@mohavecommunityfcu.com
Mail: Mohave Community Federal Credit Union 2809 Stockton Hill Road Kingman, AZ 86401

Include:

• Your name and account number
• A description of the suspected error or transaction
• The dollar amount involved

If you call, we may ask you to submit your concern in writing within 10 business days.

We will investigate within 10 business days (5 business days for Visa point-of-sale transactions, 20 business days for new accounts). If more time is needed, we may take up to 45 days (or 90 days for new accounts, point-of-sale, or foreign transactions). If extended, we will credit your account within the initial timeframe so you have access to the disputed amount.

If we request written confirmation and do not receive it within 10 business days, we may not issue the temporary credit.

An account is considered new for the first 30 days after the first deposit, unless the account holder already has an established relationship with us.

We will notify you of our findings within three business days after completing the investigation. If no error is found, we will send a written explanation. You may request copies of the documents used in our review.

Regulatory Oversight

If you believe that any part of the Electronic Funds Transfer Act or applicable federal law has been violated, you may contact:

National Credit Union Administration
NCUA Western Region Office 1230 W. Washington Street, Suite 301 Tempe, AZ 85281 Phone: (602) 302-6000 Website: www.ncua.gov

 Or

Consumer Financial Protection Bureau (CFPB) P.O. Box 27170 Washington, DC 20038
Phone: (855) 411-2372 (CFPB) TTY: (202) 435-9742
Website: www.consumerfinance.gov
Submit a Complaint: consumerfinance.gov/complaint

 

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Special Rule for Credit Card Purchases: If you have a problem with the quality of goods or services that you purchased with a credit card, and you have tried in good faith to correct the problem with the merchant, you may not have to pay the remaining amount due on the goods or services. You have this protection only when the purchase price was more than $50 and the purchase was made in your home state or within 100 miles of your mailing address. (If we own or operate the merchant, or if we mailed you the advertisement for the property or services, all purchases are covered regardless of amount or location of purchase.)

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Important Information Regarding the Computation of your Consumer Loan (may also apply to Credit Cards) Balance and Finance Charges: We use the Average Daily Balance Method (including current transactions) to figure a portion of the finance (interest) charge on your account by applying the periodic rate to the “average daily balance” of your account (including current transactions). To calculate each “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. Then, we add up all the daily balances for the billing (statement) cycle and divide the total by the number of days in the billing (statement) cycle. The finance charge is computed when you make a payment. For each day since your last payment, the periodic rate is applied to each “average daily balance”. The sum of these charges is the finance charge you currently owe on the loan or credit card account.

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Reg E Disclosure for Credit Union Monthly or Quarterly Statements.
What To Do If You Think You Find a Mistake on Your Statement

If you think there is an error on your statement, write to us at the address on the front of the first page of this statement. In your letter, give us the following information: • Account information: Your name and account number. • Dollar amount: The dollar amount of the suspected error. • Description of Problem.

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Reg E Disclosure for Credit Union Loan Payments
Regarding a Loan Payment(s)

If you think there is an error on your loan payment history, describe what you believe is wrong and why you believe it is a mistake. You must contact us within 60 days after the error appeared on your statement. You must notify us of any potential errors in writing [or electronically]. You may call us, but if you do, we are not required to investigate any potential errors, and you may have to pay the amount in question. While we investigate whether or not there has been an error, the following are true:

• We cannot try to collect the amount in question or report you as delinquent on that amount.

• The charge in question may remain on your statement, and we may continue to charge you interest on that amount.
But, if we determine that we made a mistake, you will not have to pay the amount in question or any interest or
other fees related to that amount.

• While you do not have to pay the amount in question, you are responsible for the remainder of your balance.

• We can apply any unpaid amount against your credit limit.