Leyden Credit Union PO Box 236
Franklin Park IL 60131
847-455-8440

Electronic Fund Transfers
Your Rights and Responsibilities Under Regulation "E"

 

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

Direct Deposits

You may make arrangements for certain direct deposits to be accepted into your Checking, Savings, or Premier Checking account.

Preauthorized Withdrawals

You may make arrangements to pay certain recurring bills from your Checking, Savings or Premier Checking accounts.

ATM Transfers-Types of Transfers and Dollar Limitations

You may access your account(s) by ATM using your ATM / VISA Check Card and personal identification number, to:

  • get cash withdrawals from checking account(s) - you may withdraw no more than a cumulative total of $508 per day
  • get cash withdrawals from saving account(s) - you may withdraw no more than a cumulative total of $508 per day
  • get information about: the account balance of your checking accounts, the account balance of your savings accounts
  • make deposits to checking/savings accounts
  • pay for purchases anywhere point of sale terminals are located

Some of these services may not be available at all terminals.

Charges for Electronic Fund Transfers

We do not charge for direct deposits to any type of account.

Except as indicated elsewhere, we do not charge for preauthorized withdrawals from any type of account.

Except as indicated elsewhere, we do not charge for electronic fund transfers.

 

Fees and Charges for ATM Transactions:

There is no charge for ATM transactions at machines owned by us.

There is no charge for ATM deposits.

There is a $1.00 charge for each ATM withdrawal at machines that we do not own.

There is a $1.00 charge for any balance inquires at machines that we do not own.

If you have a qualified direct deposit ($300 per month) you can make up to 4 withdrawals at machines not owned by us and not incur the $1.00 fee.

When you use an ATM not owned or operated by us, you may be charged a fee by the ATM operator or any network used to complete the transaction.

There is a Replacement Card Fee of $5.00 per card.

Fees and Charges for LAURA(Audio Response)

There are no charges to use LAURA.

Fees and Charges for Leyden Online(Home Banking)

$0.00

Fees and Charges for Bill Payment

There is a monthly charge of $5.95. This entitles you to 10 bill payments a month. Any payments after 10 will incur a charge of $ .45 per payment.


Right to Documentation

Terminal Transfers

You can get a receipt at the time you make any deposit or withdrawal from your account using an automated teller machine.

Direct Deposits

If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call LAURA (Leyden AUdio Response Access) at 847-455-8440 to find out whether or not the deposit has been received.

Periodic Statements

Your ability to print up-to-the minute account summaries, transaction reports, etc. make it unnecessary for Leyden Credit Union to print monthly/quarterly statements.


Stop Payment Procedures and Notice of Varying Amounts

Right to Stop Payment and Procedure for Doing So

If you have told us in advance to make regular payment out of your account, you can stop any of these payments. Here is how:

Call us at 847-455-8440, write us at P.O. Box 236 Franklin Park, Illinois 60131 or e-mail us at asr@leydencu.org in time for us to receive your request three business day or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call.

We will charge you $10.00 for each stop payment order you give.

Notice of Varying Amount

If these regular payments 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.)

Liability for Failure to Stop Payment of Preauthorized Transfer

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.


Our Liability

Liability for Failure to Make Transfers

If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will NOT be liable, for instance:

  1. If, through no fault of ours, you do not have enough money in your account to make the transfer.
  2. If the transfer would go over the credit limit on your overdraft line of credit.
  3. If the automated teller machine where you are making the transfer does not have enough cash.
  4. If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.
  5. If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precaution we have taken.
  6. There may be other exceptions stated in our agreement with you.

Disclosure of Account Information to Third Parties

We will disclose information to third parties about your account or the transfers you make:

  1. where it is necessary for completing transfers;
  2. in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant;
  3. in order to comply with government agency or court orders; or
  4. if you give us written permission.

Unauthorized Transfers

Tell us AT ONCE if you believe your card and/or code has been lost or stolen. Telephoning is the best way of keeping your possible losses down. You could lose all of the money in your account (plus your maximum overdraft line of credit if applicable). If reported within two business days there is no liability. If reported after two business days, you are liable for as much as $50. That amount may be increased if Leyden Credit Union can prove that you have been negligent.

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 the money if you had told us in time.

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

If you believe your card and/or code has been lost or stolen or that someone has transferred or may transfer money from you account without your permission, call or write us immediately at:

VISA / VISA CHECK CARD
Card Security
1-800-325-3678 (24 hours)

ATM
Leyden Credit Union
PO Box 236
Franklin Park, IL 60131
Phone: 847-455-8440
Fax: 847-455-1245

Error Resolution

In the case of errors or questions about your electronic transfers, call or write us at the telephone or address listed above, as soon as you can, if you think your receipt is wrong or if you need more information about a transfer listed on the receipt. We must hear from you no later than 60 days after which the problem or error appeared.

  1. Tell us your name and account number (if any).
  2. Describe the error on 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. Tell us the dollar amount of the suspected error.

If you notify us verbally, 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 (20 business days if the transfer involved a point-of-sale transaction or a foreign initiated transfer) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a point-of-sale or a foreign initiated transfer) to investigate your complaint or question. If we decide to do this we will re-credit your account within 10 business days (20 business days if the transfer involved a point-of-sale transaction or a foreign initiated transfer) 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 or question in writing and we do not receive it within 10 business days, we may not re-credit your account.

If we decide that there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation.


Leyden Credit Union
Automated Services
P.O. Box 236
Franklin Park, Illinois 60131

Telephone:  847-455-8440
Fax: 847-455-1245
E--mail:   asr@leydencu.org