Important FFCU & TFCU Merger Information: The transition of FFCU accounts to TFCU accounts will be completed on December 1st. We have prepared a Transition Guide to ensure your move to TFCU is a smooth one. There is also a printable Checklist which outlines next steps that will require your attention. Welcome to Tropical Financial Credit Union!
Financial Federal Credit Union
I saved $211 per month over the other options for my new car loan when I financed with FFCU. - J.B., Member since 2006
IMPORTANT ACCOUNT INFORMATION FOR OUR MEMBERS

  • Terms and Conditions
  • Funds Availability
  • Electronic Transfers
  • Truth In Savings

Terms and Conditions Of Your Account

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT--To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: when you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

AGREEMENT -- This document, along with any other documents we give you pertaining to your account(s), is a contract that establishes rules which control your account(s) with us. Please read this carefully. If you sign the signature card or open or continue to have your account with us, you agree to these rules. You will receive a separate schedule of rates, qualifying balances, and fees if they are not included in this document. If you have any questions, please call us. This agreement is subject to applicable federal laws and the laws of the state of Florida (except to the extent that this agreement can and does vary such rules or laws). The body of state and federal law that governs our relationship with you, however, is too large and complex to be reproduced here. The purpose of this document is to:

  1. Summarize some laws that apply to common transactions;
  2. Establish rules to cover transactions or events which the law does not regulate;
  3. Establish rules for certain transactions or events which the law regulates but permits variation by agreement;
  4. Give you disclosures of some of our policies to which you may be entitled or in which you may be interested;

If any provision of this document is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect. We may permit some variations from our standard agreement, but we must agree to any variation in writing either on the signature card for your account or in some other document. As used in this document the words "we," "our," and "us" mean the financial institution and the words "you" and "your" mean the account holder(s) and anyone else with the authority to deposit, withdraw, or exercise control over the funds in the account. The headings in this document are for convenience or reference only and will not govern the interpretation of the provisions. Unless it would be inconsistent to do so, words and phrases used in this document should be construed so the singular includes the plural and the plural includes the singular. "Party" means a person who, by the terms of an account, has a present right, subject to request, to payment from the account other than as a beneficiary or agent.

BYLAWS -- Our bylaws, which we may amend from time to time, establish basic rules about our credit union policies and operations which affect your account and membership. You may obtain a copy of the bylaws on request. Our right to require you to give us notice of your intention to withdraw funds from your account is described in the bylaws. Unless we have agreed otherwise, you are not entitled to receive any original item after it is paid, although you may request that we send you an item(s) or a copy of an item(s). Dividends are based on current earnings and available earnings of the credit union, after providing for required reserves.

LIABILITY -- You agree, for yourself (and the person or entity you represent if you sign as a representative of another) to the terms of this account and the schedule of charges. You authorize us to deduct these charges directly from the account balance as accrued. You will pay any additional reasonable charges for services you request which are not covered by this agreement.
Each of you also agrees to be jointly and severally (individually) liable for any account shortage resulting from charges or overdrafts, whether caused by you or another with access to this account. This liability is due immediately, and can be deducted directly from the account balance whenever sufficient funds are available. You have no right to defer payment of this liability, and you are liable regardless of whether you signed the item or benefited from the charge or overdraft. This includes liability for our costs to collect the deficit including, to the extent permitted by law, our reasonable attorneys' fees.

DEPOSITS -- We will give only provisional credit until collection is final for any items, other than cash, we accept for deposit (including items drawn "on us"). Actual credit for deposits of, or payable in, foreign currency will be at the exchange rate in effect on final collection in U.S. dollars, if accepted for deposit. We are not responsible for transactions by mail or outside depository until we actually record them. We will treat and record all transactions received after our "daily cutoff time" on a business day we are open, or received on a day we are not open for business, as if initiated on the next following business day that we are open.

WITHDRAWALS -- Unless clearly indicated otherwise on the account records, any of you, acting alone, who signs in the space designated for signatures on the signature card may withdraw or transfer all or any part of the account balance at any time. Each of you (until we receive written notice to the contrary) authorizes each other person signing the signature card to indorse any item payable to you or your order for deposit to this account or any other transaction with us. We may charge your account for a check even though payment was made before the date of the check, unless we have received written notice of the postdating in time to have a reasonable opportunity to act. We may refuse any withdrawal or transfer request which you attempt on forms not approved by us, by any method we do not specifically permit, which is greater in number than the frequency permitted, or which is for an amount greater or less than any withdrawal limitations. Even if we honor a nonconforming request, we may treat continued abuse of the stated limitations (if any) as your act of closing the account. We will use the date the transactions is completed by us (as opposed to the date you initiate it) to apply the frequency limitations. The fact that we may honor withdrawal request that overdraw the available account balance does not obligate us to do so later. See the funds availability policy disclosure for information about when you can withdraw funds you deposit. For those accounts for which our funds availability policy disclosure does not apply, you can ask us when you make a deposit when those funds will be available for withdrawal.

OWNERSHIP OF ACCOUNT AND BENEFICIARY DESIGNATION -- These rules apply to this account depending on the form of ownership and beneficiary designation, if any, specified on the account records. We reserve the right to refuse some forms of ownership on any or all of our accounts. We make no representations as to the appropriateness or effect of the ownership and beneficiary designations, except as they determine to whom we pay the account funds.

Single-Party Account -- Such an account is owned by one party.
Multiple-Party Account -- such an account is payable on request to one or more of two or more parties, whether or not a right of survivorship is mentioned.
Multiple-Party Account -- Tenancy by the Entireties - The parties to the account are husband and wife and hold the account as tenants by the entirety.
RIGHTS AT DEATH-Single-Party Account -- At the death of a party, ownership passes as part of the party's estate.
Multiple-Party Account With Right of Survivorship -- At death of party, ownership passes to the surviving party or parties.
Multiple-Party Account Without Rights of Survivorship -- At death of party, deceased party's ownership passes as part of deceased party's estate.
Single-Party Account with Pay-on-Death Designation -- At death of party, ownership passes to the designated pay-on-death beneficiaries and is not part of the party's estate.
Multiple-Party Account With Right of Survivorship and Pay-on-Death Designation -- At death of last surviving party, ownership passes to the designated pay-on-death beneficiaries and is not part of the last surviving party's estate.

BUSINESS ACCOUNTS -- Earnings in the form of interest, dividends, or credits will be paid only on collected funds, unless otherwise provided by law or our policy. We may require the governing body of the legal entity opening the account to give us a separate authorization telling us who is authorized to act on its behalf. We will honor the authorization until we actually receive written notice of a change from the governing body of the legal entity.

STOP PAYMENTS -- You must make any stop-payment order in the manner required by law and we must receive it in time to give us a reasonable opportunity to act on it before our stop-payment cutoff time. To be effective, your stop-payment order must precisely identify the number, date and amount of the item, and the payee.
You may stop payment on any item drawn on your account whether you sign the item or not, if you have an equal or greater right to withdraw from this account than the person who signed the item. A release of the stop-payment request may be made only by the person who initiated the stop-payment order.
Our stop-payment cutoff time is one hour after the opening of the next banking day after the banking day on which we receive the item. Additional limitations on our obligation to stop payment are provided by law (e.g., we paid the item in cash or we certified the item).

TELEPHONE TRANSFERS -- A telephone transfer of funds from this account to another account with us, if otherwise arranged for or permitted, may be made by the same persons and under the same conditions generally applicable to withdrawals made in writing. Unless a different limitation is disclosed in writing, we restrict the number of transfers from a savings account to another account or to third parties, to a maximum of six per month (less the number of "preauthorized transfers" during the month). Other account transfer restrictions may be described elsewhere.

AMENDMENTS AND TERMINATION -- We may change our bylaws and any term of this agreement. Rules governing changes in rates are provided separately. For other changes we will give you reasonable notice in writing or by any other method permitted by law. We may close this account if your membership in the credit union terminates, or by giving reasonable notice to you and tender of the account balance personally or by mail. At our option, we may suspend your rights to member services if you violate the terms of this agreement. You must keep us informed of your current address at all times. Notice from us to any one of you is notice to all of you.

STATEMENTS -- You must examine your statement of account with "reasonable promptness." If you discover (or reasonably should have discovered) any unauthorized signatures or alterations, you must promptly notify us of the relevant facts. As between you and us, if you fail to do either of these duties, you will have to either share the loss with us, or bear the loss entirely yourself (depending on whether we used ordinary care and, if not, whether we substantially contributed to the loss). The loss could be not only with respect to items on the statement but other items with unauthorized signatures or alterations by the same wrongdoer.
You agree that the time you have to examine your statement and report to us will depend on the circumstances, but will not, in any circumstance, exceed a total of 30 days from when the statement is first sent or made available to you.
You further agree that if you fail to report any unauthorized signatures, alterations, forgeries, or any other errors in your account within 60 days of when we first send or make the statement available, you cannot assert a claim against us on any items in that statement, and as between you and us the loss will be entirely yours. This 60-day limitation is without regard to whether we used ordinary care. The limitation is this paragraph is in addition to that contained in the first paragraph of this section.

ACCOUNT TRANSFER -- This account may not be transferred or assigned without our prior written consent.

DIRECT DEPOSITS -- If, in connection with a direct deposit plan, we deposit any amount in an account which should have been returned to the Federal Government for any reason, you authorize us to deduct the amount of our liability to the Federal Government from the account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability.

TEMPORATY ACCOUNT AGREEMENT -- If this option is selected, this is a temporary account agreement. Each person who signs in the space designated for signatures on the signature card (except as indicated to the contrary) may transact business on this account. However, we may at some time in the future restrict or prohibit further use of this account if you fail to comply with the requirements we have imposed within a reasonable time.

RIGHT TO REPAYMENT OF INDEBTEDNESS -- You each agree that we may (without prior notice and when permitted by law) charge against and deduct from this account any due and payable debt owed to us now or in the future, by any of you having the right of withdrawal, to the extent of such persons' or legal entity's right to withdraw. If the debt arises from a note, "any due and payable debt" includes the total amount of which we are entitled to demand payment under the terms of the note at the time we charge the account, including any balance the due date for which we properly accelerate under the note.
In addition to these contract rights, we may also have rights under a "statutory lien." A "lien" on property is a creditor's right to obtain ownership of the property in the event a debtor defaults on a debt. A "statutory lien" is one created by federal or state stature. If federal or state law provides us with a statutory lien, then we are authorized to apply, without prior notice, your shares and dividends to any debt you owe us, in accord with the statutory lien.
Neither our contract rights nor rights under a statutory lien apply to this account if:
(a) it is an individual Retirement Account or other tax-deferred retirement account, or
(b) the debt is created by a consumer credit transaction under a credit card plan (but this does not affect our rights under any consensual security interest), or (c) the debtor's right of withdrawal arises only in a representative capacity. We will not be liable for the dishonor of any check or draft when the dishonor occurs because we charge and deduct an amount you owe us from your account. You agree to hold us harmless from any claim as a result of our exercise of our right to repayment.

CONVENIENCE ACCOUNT AGENT (Single-Party Accounts only) -- A convenience account, as defined by Florida law, means a deposit account other than a certificate of deposit, in the name of one individual, in which one or more individuals have been designated as agent with the right to make deposits to and withdraw funds from or draw checks on such account on the owner's behalf. A single individual is the owner, and the agent is merely designated to conduct transactions on the owner's behalf. Only the owner may designate, substitute, or remove an agent. We undertake no obligation to monitor transactions to determine that they are on the owner's behalf.

RESTRICTIVE LEGENDS -- We are not required to honor any restrictive legend on checks you write unless we have agreed in writing to the restriction. Examples of restrictive legends are "must be presented within 90 days" or "not valid for more than $1,000.00."

PAYMENT ORDER OF ITEMS -- The law permits us to pay items (such as checks or drafts) drawn on your account in any order. To assist you in handling your account with us, we are providing you with the following information regarding how we process the items that you write. When processing items drawn on your account, our policy is to pay them according to the dollar amount. We pay the largest items first. The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. Our payment policy will cause your largest, and perhaps more important, items to be paid first (such as your rent or mortgage payment), but may increase the overdraft or NSF fees you have to pay if funds are not available to pay all of the items. If an item is presented without sufficient funds in your account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item (NSF). The amounts of the overdraft and NSF fees are disclosed elsewhere. We encourage you to make careful records and practice good account management. This will help you to avoid writing checks or drafts without sufficient funds and incurring the resulting fees.

PLEDGES -- Unless we agree otherwise in writing, each owner of this account may pledge all or any part of the funds in it for any purpose to which we agree. Any pledge of this account must first be satisfied before the rights of any surviving account owner or account beneficiary become effective.

ACH AND WIRE TRANSFERS -- This agreement is subject to Article 4A of the Uniform commercial Code - Fund Transfers as adopted in the state in which you have your account with us. If you originate a fund transfer for which Fedwire is used, and you identify by name and number a beneficiary financial institution, an intermediary financial institution or a beneficiary, we and every receiving or beneficiary financial institution may rely on the identifying number to make payment. We may rely on the number even if it identifies a financial institution, person or account other than the one named. You agree to be bound by automated clearing house association rules. These rules provide, among other things, that payments made to you, or originated by you, are provisional until final settlement is made through a Federal Reserve Bank or payment is otherwise made as provided in Article 4A-403(a) of the Uniform Commercial Code. If we do not receive such, we are entitled to a refund from you in the amount credited to your account and the party originating such payment will not be considered to have paid the amount so credited. If we receive a credit to an account you have with us by wire or ACH, we are not required to give you any notice of the payment order or credit.

FACSIMILE SIGNATURES -- You authorize us, at any time, to charge you for all checks, drafts, or other orders, for the payment of money, that are drawn on us regardless of by whom or by what means the facsimile signature(s) may have been affixed so long as they resemble the facsimile signature specimen filed with us, and contain the required number of signatures for this purpose.

NOTICE OF PRIVACY PRACTICES
Important information about the personal data your Credit Union collects, and how it is used. To assure the continued privacy and confidentiality of your personal financial information, your credit union observes these practices and procedures

INFORMATION WE COLLECT
We collect nonpublic information about you from some or all of the following sources:

  • Information we receive from you on applications or other forms, such as your name, address, social security number, assets and income.
  • Information about your transactions with us, our affiliates, or others such as your account balance, payment history, parties to transactions and credit card usage; and,
  • Information we receive from a consumer reporting agency, such as your creditworthiness and credit history.

INFORMATION WE DISCLOSE
We may disclose all of the information we collect as described above to companies that perform marketing services on our behalf or to other financial institutions with whom we have joint marketing agreements. We may also disclose information about you under other circumstances as permitted by law.

OUR SECURITY MEASURES
We restrict access to nonpublic information about you to those employees who need to know that information to provide products or services to you. We maintain physical, electronic and procedural safeguards that comply with Federal regulations to guard your nonpublic personal information.
Credit union members and the public may receive copies of this notice of privacy practices by contacting the credit union.
This notice meets the notification requirements of the National Credit Union Administration regulation on privacy of consumer information, Part 716.

 


ELECTRONIC FUND TRANSFERS
YOUR RIGHTS AND RESPONSIBILITIES

Indicated below are types of Electronic fund Transfers we are capable of handling, some of which may not apply to your account. Please read this disclosure carefully because it tells you your rights and obligations for the transactions listed. You should keep this notice for future reference.
Electronic Funds Transfers Initiated By Third Parties. You may authorize a third party to initiate electronic funds transfers between your account and the third party's account. These transfers to make or receive payment may be onetime occurrences or may recur as directed by you. These transfers may use the Automated Clearinghouse (ACH) or other payments network. Your authorization to the third party to make these transfers can occur in a number of ways. In some cases your authorization can occur when the merchant posts a sign informing you of their policy. In all cases, the transaction will require you to provide the third party with your account number and credit union information. This information can be found on your check or draft as well as on a deposit or withdrawal slip. Thus, you should only provide your credit union and account information (whether over the phone, the Internet, or via some other method) to trusted third parties whom you have authorized to initiate these electronic funds transfers. Examples of these transfers include, but are not limited to:

  • Preauthorized credits. You may make arrangements for certain direct deposits to be accepted into your checking or savings account(s).
  • Preauthorized payments. You may make arrangements to pay certain recurring bills from your checking or savings account(s).
  • Electronic check or draft conversion. You may provide your check or draft to a merchant or service provider who will scan the check or draft for the encoded credit union and account information. The merchant or service provider will then use this information to convert the transaction into an electronic funds transfer. This may occur at the point of purchase, or when you provide your check or draft by other means such as by mail or drop box.
  • Electronic returned check or draft charge. Some merchants or service providers will initiate an electronic funds transfer to collect a charge in the event a check or draft is returned for insufficient funds.

Call 24 Telephone transfers - types of transfers -- You may access your account by telephone 24 hours a day at (305) 577-1328 or 1-800-727-5626 using your personal identification number, a touch tone phone, your account numbers, and your social security number, to:

 

  • Transfer funds from checking to savings
  • Transfer funds from savings to checking
  • Get information about:
    • The account balance of checking accounts(s)
    • The last 45 days of deposits to checking account(s)
    • The last 45 days of withdrawals from checking account(s)
    • The account balance of savings account(s)
    • The last 90 days of deposits to savings account(s)
    • The last 90 days of withdrawals from savings account(s)

ATM Transfers - types of transfers, dollar limitations, and charges -- You may access your account(s) by ATM using your ATM card or Visa® Check Card and personal identification number (PIN), to:

  • get cash withdrawals from checking account(s) with an ATM card or Visa Check Card
    • you may withdraw no more than $400.00 per day (combined with savings)
    • there is a charge of $2.00 per withdrawal after 5 free ATM transactions per month
  • get cash withdrawals from savings account(s) with an ATM card or Visa Check Card
    • you may withdraw no more than $400.00 per pay (combined with checking)
    • there is a charge of $2.00 per withdrawal after 5 free ATM transactions per month
  • transfer funds from savings to checking account(s) with an ATM card or Visa Check Card
    • there is a charge of $2.00 per transfer after 5 free ATM transactions per month
  • transfer funds from checking to savings account(s) with an ATM card or Visa Check Card
    • there is a charge of $2.00 per transfer after 5 free ATM transactions per month
  • get information about:
    • the account balance of your checking account(s)
      • with an ATM card or Visa Check Card
      • there is a charge of $2.00 per inquiry after 5 free ATM transactions per month
      • the account balance of your savings account(s)
      • there is a charge of $2.00 per inquiry after 5 free ATM transactions per month

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

Types of ATM Card Point-of-Sale Transactions -- You may access your savings or checking account(s) to purchase goods (in person), pay for services (in person), and get cash from a merchant, if the merchant permits, or from a participating financial institution.

Point-of-Sale Transactions - dollar limitations and charges -- using your ATM card:

  • you may not exceed $400.00 in transactions per day
  • the charge to use your card is $2.00 per transaction after 5 ATM transactions per month

Types of Visa Check® Card Point-of-Sale Transactions -- You may access your savings or checking account(s) to purchase goods (in person or by phone), pay for services (in person or by phone), get cash from a merchant, if the merchant permits, or from a participating financial institution, and do anything that you can do with a credit card (that a participating merchant will accept with a credit card).

Point-of-Sale Transactions - dollar limitations -- Using your Visa Check Card:

  • you may not exceed $750.00 in transactions per day

Currency conversion. When you use your Visa® Check Card at a merchant that settles in currency other than US dollars, the charge will be converted into the US dollar amount. The currency conversion rate used to determine the transaction amount in US dollars is either a wholesale market rate or the government mandated rate in effect the day before the processing date, increased by 1%. The conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or posting date.

Advisory Against Illegal Use. You agree not to use your card(s) for illegal gambling or other illegal purpose. Display of a payment card logo by, for example, an online merchant does not necessarily mean that transactions are lawful in all jurisdictions in which the cardholder may be located.

Internet Banking Computer Transfers - types of transfers, and charges - You may access your account(s) by computer by Internet access to www.financialcu.com using your personal identification number and your member number to:

  • transfer funds from checking to checking
  • transfer funds from checking to savings
  • transfer funds from savings to checking
  • transfer funds from savings to savings
  • make payments from checking to loan accounts with us
  • make payments from checking to third parties (Bill Payment)
    • there is a charge of $3.95 per month
  • make payments from savings to loan accounts with us
  • get information about:
    • the account balance of checking accounts
    • the account balance of savings accounts
    • account history including direct deposits, and reorder checks
FEES
  • We do not charge for direct deposits to any type of account.
  • We do not charge for preauthorized payments from any type of account.
Except as indicated elsewhere, we do not charge for these electronic fund transfers.
ATM Operator/Network Fees. When you use an ATM not owned by us, you may be charged a fee by the ATM operator or any network used (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer).

 

DOCUMENTATION

 

  • Terminal transfers. You can get a receipt at the time you make any transfer to or from your account using one of our automated teller machines or point-of-sale terminals.
  • Preauthorized credits. If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, the person or company making the deposit will tell you every time they send us the money.
  • Preauthorized credits. 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 CALL 24 at 1-800-727-5626 to find our whether or not the deposit has been made.
  • Periodic statements.
    • You will get a monthly account statement from us for your checking accounts.
    • You will get a monthly account statement from us for your savings accounts, unless there are no transfers in a particular month. In any case, you will get a statement at least quarterly.

 

PREAUTHORIZED PAYMENTS

 

  • Right to stop payment and procedure for doing so. 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:
    Write us at the address listed in this brochure in time for us to receive your request 3 business days or more before the payment is scheduled to be made. If you call, we will require you to put your request in writing and get it to us within 14 days after you call.
  • Notice of varying amounts. 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.)
  • Liability for failure to stop payment of preauthorized transfer. If you order us to stop one of these payments 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

 

FINANCIAL INSTITUTION'S 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 you have an overdraft line and the transfer would go over the credit limit.
  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 precautions that we have taken.
  6. There may be other exceptions stated in our agreement with you.

 

CONFIDENTIALITY

We will disclose information to third parties about your account or the transfers you make:
  1. Where it is necessary for completing transfers; or
  2. In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; or
  3. In order to comply with government agency or court orders; or
  4. As explained in our notice of Privacy Practices.

 

UNAUTHORIZED TRANSFERS

a) Consumer liability.

  • Generally. 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 the money in your account (plus your maximum overdraft line of credit). If you tell us within 2 business days, you can lose no more than $50 if someone used your card and/or code without your permission. (If you believe your card and/or code has been lost or stolen, and you tell us within 2 business days after you learn of the loss or theft, you can lose no more than $50 if someone used your card and/or code without your 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.
    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 hospital stay) kept you form telling us, we will extend the time periods.
  • Additional Limit on Liability for Visa® Check Card. Unless you have been grossly negligent or have engaged in fraud, you will not be liable for any unauthorized transactions using your lost or stolen Visa® Check Card. This additional limit on liability does not apply to ATM transactions, to transactions using your Personal Identification Number which are not processed by VISA®, or to commercial cards.
b) Contact in event of unauthorized transfer. If you believe your card and/or code has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call or write us at the telephone number or address listed in this brochure.

 

ERROR RESOLUTION NOTICE

In Case of Errors or Questions About Your Electronic Transfers, Call or Write us at the telephone number or address listed in this brochure, as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.

  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. Tell us the dollar amount of the suspected error.
If you tell us orally, we require that you send us your complaint or question in writing within 10 business days.
We will determine whether an error occurred within 10 business days (5 business days for Visa® Check Card point-of-sale transactions and 20 business days if the transfer involved a new account) 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 new account, a point-of-sale transaction, or a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (5 business days for Visa® Check Card point-of-sale transactions and 20 business days if the transfer involved a new account) 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 credit your account. Your account is considered a new account for the first 30 days after the first deposit is made, unless each of you already has an established account with us before this account is opened.
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 documents that we used in our investigation

 

FINANCIAL FEDERAL CREDIT UNION
MEMBER SERVICES
22 EAST FLAGLER STREET
MIAMI, FL 33131
Business Days: Monday through Friday
Phone: (305) 577-1328 or 1-800-727-5626
MORE DETAILED INFORMATION IS AVAILABLE
ON REQUEST

 

NOTICE OF ATM/NIGHT DEPOSIT FACILITY USER PRECAUTIONS

As with all financial transactions, please exercise discretion when using an automated teller machine (ATM) or night deposit facility. For your own safety, be careful. The following suggestions may be helpful.

  1. Prepare for your transactions at home (for instance, by filling out a deposit slip) to minimize your time at the ATM or night deposit facility.
  2. Mark each transaction in your account record, but not while at the ATM or night deposit facility. Always save your ATM receipts. Don't leave them at the ATM or night deposit facility because they may contain important account information.
  3. Compare your records with the account statements you receive.
  4. Don't lend your ATM card to anyone.
  5. Remember, do not leave your card at the ATM. Do not leave any documents at a night deposit facility.
  6. Protect the secrecy of your Personal Identification Number (PIN). Protect your ATM card as though it were cash. Don't tell anyone your PIN. Don't give anyone information regarding your ATM card or PIN over the telephone. Don't write your PIN where it can be discovered. For example, don't keep a note of your PIN in your wallet or purse.
  7. Prevent others from seeing you enter your PIN by using your body to shield their view.
  8. If you lose your ATM card or if it is stolen, promptly notify us. You should consult the other disclosures you have received about electronic fund transfers for additional information about what to do if your card is lost or stolen.
  9. When you make a transaction, be aware of your surroundings. Look out for suspicious activity near the ATM or night deposit facility, particularly if it is after sunset. At night, be sure that the facility (including the parking area and walkways) is well lighted. Consider having someone accompany you when you use the facility, especially after sunset. If you observe any problem, go to another ATM or night deposit facility.
  10. Don't accept assistance from anyone you don't know when using an ATM or night deposit facility.
  11. If you notice anything suspicious or if any other problem arises after you have begun an ATM transaction, you may want to cancel the transaction, pocket your card and leave. You might consider using another ATM or coming back later.
  12. Don't display your cash; pocket it as soon as the ATM transaction is completed and count the cash alter when you are in the safety of your own car, home, or other secure surrounding.
  13. At a drive-up facility, make sure all the car doors are locked and all of the windows are rolled up, except the driver's window. Keep the engine running and remain alert to your surroundings.
  14. We want the ATM and night deposit facility to be safe and convenient for you. Therefore, please tell us if you know of any problem with a facility. For instance, let us know if a light is not working or there is any damage to a facility. Please report any suspicious activity or crimes to both the operator of the facility and the local law enforcement officials immediately.

 


YOUR ABILITY TO WITHDRAW FUNDS

This policy statement applies to "transaction" accounts. Transaction accounts, in general, are accounts which permit an unlimited number of payments to third persons and an unlimited number of telephone and preauthorized transfers to other accounts of yours with us. Share draft accounts are the most common transaction accounts. Feel freed to ask us whether any of your other accounts might also be under this policy.
Our policy is to delay the availability of funds from your cash and check deposits. During the delay, you may not withdraw the funds in cash and we will not 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 you deposit that are returned to us unpaid and for any other problems involving your deposit.

 

DETERMINING THE AVAILABILITY OF A DEPOSIT

The length of the delay is counted in business days from the day of your deposit. Every day is a business day except Saturday, Sundays, and federal holidays. If you make a deposit before closing on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after closing or on a day we are not open, we will consider that the deposit was made on the next business day we are open.
The length of the delay varies depending on the type of deposit and is explained below.

 

Same-Day Availability

Funds from electronic direct deposits to your account will be available on the day we receive the deposit.

 

Next-Day Availability

Funds from the following deposits are available on the first business day after the day of your deposit:
U.S Treasury checks that are payable to you
Wire transfers
Checks drawn on Financial Federal Credit Union.
If you make the deposit in person to one of our employees, funds from the following deposits are also available on the first business day after the day of your deposit:
Cash.
State and local government checks that are payable to you.
Cashier's, certified, and teller's 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 second business day after the day we receive your deposit.

 

Other Check Deposits

The delay for other check deposits depend on whether the check is a local or a non local check. To see whether a check is a local or a nonlocal check, look at the routing number on the check:

 
 

If the first four digits of the routing number (1234 in the examples above) are 0660, 2660, 0670, 2670, 0630, 2630, 0631, 2631, 0632, or 2632, then the check is a local check. Otherwise, the check is a nonlocal check. Some checks are marked "payable through" and have a four- or nine-digit number nearby. For these checks, use the four-digit number (or the first four digits of the non-digit number), not the routing number on the bottom of the check, to determine if these checks are local or nonlocal. Our policy is to make funds from local and nonlocal checks available as follows.

  1. Local checks. The first $100 from a deposit of local checks will be available on the first business day after the 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 on a Monday, $100 of the deposit is available on Tuesday. The remaining $600 is available on Wednesday.
  2. Nonlocal checks. The first $100 from a deposit of nonlocal checks will be available on the first business day after the day of your deposit. The remaining funds will be available on the fifth business day after the day of your deposit.
    For example, if you deposit a $700 nonlocal check on a Monday, $100 of the deposit is available on Tuesday. The remaining $600 is available on Monday of the following week.
  3. Local on nonlocal checks. If you deposit both categories of checks, $100 from the checks will be available on the first business day after the day of your deposit, not $100 from each category of check.
    If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.
    If we accept for deposit a check that is drawn on another bank, we may make 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 deposited.

 

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 on any one day.
You redeposit 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 communications equipment.
We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the eleventh business day after the day of your deposit.

 


TRUTH-IN-SAVINGS DISCLOSURE
REGULAR SAVINGS ACCOUNT

Rate Information:
The dividend rate and annual percentage yield may change every dividend period. 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 semi-annually. Dividends will be credited to your account every semi-annually.
Dividend period - For this account type, the divided period is semi-annually, 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 June 30. 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 June 30. If you close your share account before dividends are paid, you will not receive the accrued dividends.
Minimum balance requirements:
The minimum required to open this account is the purchase of a share in the credit union. Please see the bylaw requirements in the Common Features section for additional information.
If your Savings account is below the minimum balance, there will be a $5.00 service charge. This fee is determined monthly only on those accounts more than 180 days old which do not have an open loan, CD, IRA, Money Management Savings Account or Money Management Checking Account. This service charge also would not apply if you have a minimum combined balance of $1,000 or more in all of your credit union deposit accounts. You must maintain a minimum average daily balance of $50.01 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 two quarterly statement cycles.
Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.
Transaction limitations:
The maximum cash deposit we allow is $10,000.00 per day.
The above deposit limitation applies to this account in combination with all other account(s).
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 preauthorized, computer or automatic transfer, telephonic order or instruction, 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.
Per value of a share:
The par value of a share in this account is $5.00.

 

MONEY MANAGEMNT SAVINGS ACCOUNT

Rate information:
The dividend rate and annual percentage yield may change every dividend period. 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 month. Dividends will be credited to your account every month.
Dividend period - For this account type, the dividend period is monthly, 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 January 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 January 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 $10,000.00.
You must maintain a minimum average daily balance of $10,000.00 in your account ot 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 noncash items (for example, checks) to your account.
Transaction limitations:
The maximum cash deposit we allow is $10,000.00 per day.
The above deposit limitation applies to this account in combination with all other account(s).
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 preauthorized, computer or automatic transfer, telephonic order or instruction, 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.

 

CLASSIC CHECKING ACOUNT (SHARE DRAFT)

Minimum balance requirements:
No minimum balance requirements apply to this account.
Transaction limitations:
The maximum cash deposit we allow is $10,000.00 per day.
The above deposit limitation applies to this account in combination with all other account(s).

 

FREEDOM CHECKING ACCOUNT (SHARE DRAFT)

Minimum balance requirements:
No minimum balance requirements apply to this account.
Transaction limitations:
The maximum cash deposit we allow is $10,000.00 per day.
The above deposit limitation applies to this account in combination with all other account(s).
Fees and charges:
A service charge fee of $9.95 will be charged each month.
Additional information
No charge for ATM withdrawals from checking.

 

MONEY MANAGEMENT CHECKING ACCOUNT (SHARE DRAFT)

Rate information:
The dividend rate and annual percentage yield may change every dividend period. 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 month. Dividends will be credited to your account every month.
Dividend period - For this account type, the dividend period is monthly, 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 January 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 January 31.
If you close your account before dividends are paid, you will not receive the accrued dividends.
Minimum balance requirements:
You must maintain a minimum daily balance of $1,500.00 in your account to avoid a minimum balance fee. If, during any month, your account balance falls below the required minimum daily balance, your account will be subject to a minimum balance fee of $15.00 for that month.
You must maintain a minimum average daily balance of $5,000.00 in you 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 noncash items (for example, checks) to your account.
Transaction limitations:
The maximum cash deposit we allow is $10,000.00 per day.
The above deposit limitation applies to this account in combination with all other account(s).
Additional Information:
No charge for green safety paper checks.
No charge for ATM withdrawals from checking.
No charge for online bill payment.

 

IRA SAVINGS ACCOUNT

Rate information:
The dividend rate and annual percentage yield may change every dividend period. 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 the 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:
The minimum balance required to open this account is $100.00.
You must maintain a minimum average daily balance of $50.01 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 rte 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 quarterly statement cycle.
Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.
Transaction limitations:
The maximum cash deposit we allow is $10,000.00 per day.
The above deposit limitation applies to this account in combination with all other account(s).
You may not make any withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized or automatic transfer, telephonic order or instruction, or similar order to a third party.

 

HOLIDAY CLUB ACCOUNT
VACATION CLUB ACCOUNT

Rate Information - The dividend rate and annual percentage yield may change every dividend period. We may change the dividend rate for your account as determined by the credit union board of directors.
Compounding frequency - Dividends will be compounded semi-annually.
Crediting frequency - Dividends will be credited to your account semi-annually.
Dividend period - For this account type, the dividend period is semi-annually.
Effect of closing an account - If you close your account before dividends are paid, you will not receive the accrued dividends.
Minimum balance requirements:
You must maintain a minimum average daily balance of $50.01 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 two quarterly statement cycles.
Accrual of dividends on noncash deposits - Dividends will begin to accrue on the business day you place noncash items (for example, checks) to your account.
Transaction limitations:
The maximum cash deposit we allow is $10,000.00 per day.
You may make withdrawals of principal from your account before maturity.
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.
You can withdraw dividends anytime during the term of crediting after they are credited to your account.
Time requirements - Your Holiday club account will mature November 1.
Your Vacation club account will mature May 1.
Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity)- The penalty we may impose is $20.00 per withdrawal.
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. See your plan disclosure if this account is part of an IRA or other tax qualified plan. For any account which earns a divided rate that may vary from time to time during the term, the dividend rate we will use to calculate this early withdrawal penalty will be the dividend rate in effect at the time of the withdrawal.
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. We can prevent renewal if we mail notice to you at least 30 calendar days before maturity. If either you or we prevent renewal, your funds will be placed in a dividend-bearing (savings) account.
Each renewal term will be the same as the original term, beginning on the maturity date. Dividends will be calculated on the same basis as during the original term.
There is no grace period following the maturity of this account during which you may withdraw the funds without being charged an early withdrawal penalty.

 

COMMON FEATURES

Bylaw requirements:
You must complete payment of one share in your Savings account as a condition of admission to membership. The member must maintain $50.00 in a Savings account within eight weeks of opening. *
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 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).)
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 be assessed against you account and the following transaction limitations, if any, apply to your account.
* If your Savings account is below the minimum balance, there will be a $5 service charge. This fee is determined monthly only on those accounts more than 180 days old which do not have an open loan, CD, IRA, Money Management Savings Account or Money Management Checking Account. This service charge also would not apply if you have a minimum combined balance of $1,000 or more in all of your credit union deposit accounts.

 


YOUR ACCOUNT

These are the accounts you have opened or inquired about. Further details about these accounts are inside this brochure. If the figures are not filled in, please see the insert that is with this disclosure or your periodic statement.

 

  • REGULAR SAVINGS ACCOUNT

 

Last declared dividend rate:
Tier 1 - As of the last dividend declaration date, if your average daily balance was $500.01 or more, the dividend rate paid on the entire balance in your account was .75%, with an annual percentage yield of .75%.
Tier 2 - As of the last dividend declaration date, if your average daily balance was more than $50.01, but less than $500.00, the dividend rate paid on the entire balance in your account was .25%, with an annual percentage yield of .25%.

  • MONEY MANAGEMENT SAVINGS ACCOUNT

 

Last declared dividend rate:
As of the last dividend declaration date, the dividend rate was 2.50% with an annual percentage yield of 2.53% on your account.

 

  • CLASSIC CHECKING ACCOUNT (SHARE DRAFT)
  • FREEDOM CHECKING ACCOUNT (SHARE DRAFT)
  • MONEY MANAGEMENT CHECKING ACCOUNT (SHARE DRAFT)
Last declared dividend rate:
As of the last dividend declaration date, the dividend rate was 2.00% with an annual percentage yield of 2.02% on your account.

 

 

  • IRA SAVINGS ACCOUNT
Last declared dividend rate:
Tier 1 - As of the last dividend declaration date, if your average daily balance was $500.00 or more, the dividend rate paid on the entire balance in your account was .50%, with an annual percentage yield of .50%.
Tier 2 - As of the last dividend declaration date, if your average daily balance was more than $50.00, but less than $500.00, the dividend rate paid on the entire balance in your account was .25%, with an annual percentage yield of .25%.

 

 

  • HOLIDAY CLUB ACCOUNT
Last declared dividend rate:
Tier 1 - As of the last dividend declaration date, if your average daily balance was $500.01 or more, the dividend rate paid on the entire balance in your account was .75%, with an annual percentage yield of .75%.
Tier 2 - As of the last dividend declaration date, if your average daily balance was more than $50.01, but less than $500.00, the dividend rate paid on the entire balance in your account was .25%, with an annual percentage yield of .25%.
Maturity notice - Your Holiday Club Account will mature on November 1 and it will automatically renew unless you prevent it. The new maturity date will be November 1. The dividend rate and annual percentage yield that will apply to your HCA / VCA account if it is renewed have not yet been determined. That information will be available on Dec 31/June 30. After that date, you may call the credit union during regular business hours at (305) 577-1328 to find out the dividend rate and annual percentage yield that will apply to your account if it is renewed.

 

 

  • VACATION CLUB ACCOUNT
Last declared dividend rate:
Tier 1 - As of the last dividend declaration date, if your average daily balance was $500.01 or more, the dividend rate paid on the entire balance in your account was .75%, with an annual percentage yield of .75%.
Tier 2 - As of the last dividend declaration date, if your average daily balance was more than $50.01, but less than $500.00, the dividend rate paid on the entire balance in your account was .25%, with an annual percentage yield of .25%.
Maturity notice - Your Vacation Club Account will mature on May 1 and it will automatically renew unless you prevent it. The new maturity date will be May 1. The dividend rate and annual percentage yield that will apply to your HCA / VCA account if it is renewed have not yet been determined. That information will be available on Dec 31/June 30. After that date, you may call the credit union during regular business hours at (305) 577-1328 to find out the dividend rate and annual percentage yield that will apply to your account if it is renewed.

 

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