Reg CC - Availability of Funds and Collection of Checks
Our general policy is to make funds from your deposits available to you on the same business day as the day we receive your deposit. At that time, you can withdraw the funds in cash and, in the case of Share Draft Checking accounts, we will use the funds to pay checks that you have written. Please remember that even after we have made funds available to you and you have withdrawn the funds, you are still responsible for checks that are returned to us unpaid and for any other problems involving any items you have cashed or deposited.
Longer Delays May Apply: In some cases, we will not make all of the funds that you deposit by check available to you on the same business day as the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the fifth business day after the day of your deposit. However, the first $200 of your deposit will be available on the same business day. If we do not make all of the funds from your deposit available on the same business day, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the branch premises, we will mail you the notice no later than the day after we receive your deposit. If you need the funds from a deposit right away, please ask us when funds will be available.
Reg D - Reserve Requirements of Depository Institutions
Regulation D is a federal law that applies to all financial institutions insured by the federal government. This law restricts the number of transfers and/or withdrawals members may make from their savings accounts using an audio response system (VoiceChoice), HomeBanking service, or automatic overdraft protection. Each member is limited to six (6) transfers/withdrawals per month from their savings accounts, including pre-authorized payments/withdrawals or telephone and email requests to our Call Center. Regulation D affects savings and Money Market Accounts but does not apply to checking accounts. Automatic overdraft protection from a Line of Credit loan is not subject to this regulation. Furthermore, overdraft protection from a CoastHills Credit Union Line of Credit is FREE. There is no limit to the number of withdrawals/transfers a member may make from their savings account by mail, at an ATM or at a branch in person.
USA Patriot Act - Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism
On September 11, 2001, our lives changed forever because of the attacks on our country. In an effort to protect you and our country, President Bush signed the USA Patriot Act into law on October 26, 2001.
One section of the USA Patriot Act says we must:
- Verify the identity of any person seeking to open an account (includes Trust, Investment, Safe Deposit, Loans and Deposit Accounts)
- Maintain records of the information used to verify the person's identity including name, address, and their identifying means. If the staff at CoastHills Credit Union asks you to provide a photo ID, the request is not meant to invade your privacy or not acknowledge you if you are a long time member. We are simply complying with a new federal regulation that is designed to protect you from identity theft and protect the credit union from being used for criminal activity
We proudly support all efforts to protect and maintain the security of our members and our country.
The Check Clearing for the 21st Century Act (Check 21) was signed into law on October 28, 2003, and became effective on October 28, 2004. The purpose of the new law was to introduce a new negotiable instrument called the substitute check and to improve the U.S. payment system. Check 21 has brought about some changes, of which you need to be aware.
Your cancelled checks may actually be a substitute check, or Image Replacement Document (IRD), a legal equivalent to the original. These will look different - a smaller image than the original, front and back, with a statement printed to the left, which reads, "This is a legal copy of your check. You can use it in the same way you would use the original check."
Substitute checks may clear quicker than paper checks, which take at least a day or two to process and present to the paying financial institution. This is where Check 21 may have a direct impact, as it may eventually eliminate check float time. This means that once this program is in place, when you write a check, the money should be in your account at that time.
Click here for more information about Check 21.
Account Verification Audit
As part of our risk management process our auditors, McGladrey & Pullen, will be performing an account verification in which our members will be asked to confirm the accuracy of an account balance. This process is required by our auditors and regulators. As part of this procedure you may be randomly selected. It is one of many internal control processes followed by the credit union to enhance the accuracy and reliability of our financial reporting systems, which ultimately protect you.
Errors or Questions Regarding an Electronic Transfer
If you believe a transfer listed on your statement or receipt is wrong, or if you need more information about the transfer, please contact us. Disputes must be submitted no later than 60 days after we sent the first statement on which the problem or error appeared. Please include the following information:
- Your name and account number
- A detailed description of the error or the transfer you are unsure about (including the transaction date) and the reason for the inquiry
- The dollar amount of the suspected error
If we are notified orally, we may require that you send your complaint or question in writing within 10 business days.
We will notify you of the results of our investigation within 10 business days after we hear from you and we will correct any error promptly. However, if we need more time, we can 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 disputed amount in order to grant you use of the funds while we complete our investigation. If the error you assert is an unauthorized VISA transaction, other than a cash disbursement at an ATM, we will credit your account within five business days, unless we determine that the circumstances or your account history warrant a delay, in which case you will receive credit within 10 business days. If we ask you to put your dispute in writing and do not receive it within 10 business days, we may not credit your account.
If it is determined that there is no error, we will send you a written explanation within three business days of completing our investigation. You may ask for copies of the documents that we used in our investigation.
*If you give notice of an error within 30 days after you make the first deposit to your account, we will have 20 business days instead of 10 business days.
**If you give notice of an error within 30 days after you make the first deposit to your account and the error involves a point of sale transaction or a transaction initiated outside the U.S., its possessions and territories, we will have 90 days instead of 45 days to investigate.
Member Conduct and Limitation of Services Policy
CoastHills Credit Union’s good reputation is due in large part to the loyalty, commitment and continued efforts of its employees, volunteers and members. CoastHills is committed to treating its employees, volunteers and members with the respect they deserve and is committed to maintaining a work place free from unacceptable conduct from any source.
CoastHills Credit Union services are available to members who are in “good standing” with the Credit Union. The purpose of this policy is to protect the employees, volunteers and members of CoastHills Credit Union from abusive members and address standards of member conduct in order to assure the rights and protection of the Credit Union’s employees, volunteers, and members.
In the event that any member or non-member engages in any type of abusive conduct towards a Credit Union member or a Credit Union employee or volunteer engaged in Credit Union business, the CEO, or designee, is authorized to apply appropriate remedial measures against such individual.
This policy shall extend to any member “not in good standing” who seeks member services whether directly or indirectly through a CoastHills Credit Union account. This policy shall also apply to any person who has access to CoastHills Credit Union services directly or indirectly through a member who is considered to be “not in good standing” with CoastHills Credit Union.
A member will not be considered to be “in good standing” with CoastHills Credit Union if:
The member fails to comply with the terms and conditions of any lawful obligation with CoastHills Credit Union and causes a “monetary loss” as defined below:
The member manipulates or otherwise abuses Credit Union services or products to the detriment of CoastHills Credit Union’s membership; or
The member engages in “abusive behavior,” as defined below, or otherwise injures any person or damages any property while on Credit Union premises, at any Credit Union function, or while at any Share Branch network location.
The determination of whether a member is in “good standing” with this Credit Union will be made at the sole discretion of the Leadership of this Credit Union. Should Leadership elect to restrict and/or terminate Membership privileges, the Member will be notified in writing of the restriction and/or termination of their Credit Union account(s), and will be informed of the basis for the restriction and/or termination. Each instance of such conduct will be documented in writing, and made a permanent part of the offender’s Credit Union account. Any member deemed to be “not in good standing” will be reported at the next regular board meeting.
This policy shall also extend to member conduct at any Share Branch network location.
“Member services” are defined as any products or services provided by or sponsored by CoastHills now or in the future or otherwise made available to CoastHills Credit Union members. Services include, but are not limited to: loans, deposit accounts, checking or share drafts, ATM services, online banking services, and other electronic fund transfer services.
A “monetary loss” to CoastHills Credit Union occurs when the Credit Union writes off as uncollectible any monies which the member owes, for whatever reason, to the Credit Union.
For loans: the monetary loss is defined as the principal amount of any monies owed and written off as uncollectible. The amount of the monetary loss does not include interest and expenses.
For shares: the monetary loss is defined as the negative balance in the share account written off as uncollectible excluding fees.
Members who voluntarily repay shares or loans that were previously classified as monetary losses or members with whom the credit union accepted a settlement amount as payment in full shall retain or have restored, the full rights and privileges of credit union membership as if they had not caused the credit union a monetary loss
“Abusive behavior” includes, but is not limited to, any of the following conduct:
Any type of harassment, including age, sexual, ethnic, or racial harassment; making racial or ethnic slurs, engaging in sexual conduct; making sexual overtures
Making sexual flirtations, advances or propositions; engaging in verbal abuse of a sexual, racial or ethnic nature; making graphic or degrading comments about an individual or his or her appearance
Displaying sexually suggestive objects or pictures
Fighting, kicking or other physical harm or attempted harm towards a CoastHills Credit Union member, employee or volunteer engaged in Credit Union business. For example:
Engaging in offensive or abusive physical contact
Making false, vicious or malicious statements about any Credit Union employee or volunteer or the Credit Union and its services, operations, policies, practices, or management
Cursing or other abusive or vulgar language directed towards a Credit Union member, employee or volunteer engaged in Credit Union business. For example:
Bringing or possessing firearms or weapons or any hazardous or dangerous device on Credit Union premises or at a Credit Union function or on any Share Branch network location
Possession, sale, use or being under the influence of an unlawful or unauthorized substance on Credit Union premises or at a Credit Union function or on any Shared Branch network location.
Attempting to coerce or interfere with a Credit Union employee or volunteer in the performance of their duties at any time
Uncivil conduct or failure to maintain satisfactory or harmonious working relationships with other members, employees and volunteers at the Credit Union
Conducting or attempting to conduct or engage in any fraudulent, dishonest or deceptive activity of any kind involving Credit Union employees or Credit Union service
Appropriation or misappropriation of Credit Union funds, property or other material proprietary to the Credit Union; immoral conduct or indecency on Credit Union premises.
Any other act which endangers the safety, health or wellbeing of another person or which is of sufficient magnitude that causes disruption of business at the Credit Union
This list is not exhaustive and is used only as an example of types of behavior that may be viewed as “abusive” by the Credit Union.
The availability of member services for members who are not in good standing with CoastHills Credit Union shall be restricted. Any or all of the following actions may be imposed against an individual who is deemed to be “not in good standing”:
Denial of all services other than the right to maintain a share account and the right to vote at annual and special meetings
Denial from personal contact with Credit Union employees or volunteers such that Credit Union services may be available only through written communication through the U.S. mail, online banking, touch-tone telephone banking, or other remote access device designated by Credit Union Senior Management.
Denial of access to Credit Union premises
Denial of access to any Credit Union Service Centers Network or any other shared-branching network and revoking any shared branching privileges
Taking any other action deemed appropriate under the circumstances that is not excluded by the Federal Credit Union Act, NCUA Rules and Regulations, the Credit Union’s Bylaws or other applicable federal or state law.
Threats of bodily harm or any other illegal activity against any Credit Union employee, volunteer or other member will be reported to appropriate federal, state and/or local authorities.
Union at a special meeting of the members or at the next annual meeting of the membership.
These limitations shall not prohibit a member from exercising his or her rights under federal or state law or regulation (e.g., Regulation “E” or Regulation “Z”).
This policy shall be applied only to the action of members which occurs more than thirty (30) days after the adoption of the policy and notice to the membership through the credit union’s website.