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