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Additional Disclosures
- Notice of Changes in Temporary NCUA Insurance Coverage for Transaction Accounts
- Regulation "D"
- The Federal Equal Credit Opportunity Act
- Other Disclosures
Notice of Changes in Temporary NCUA Insurance Coverage for Transaction Accounts
All funds in a noninterest-bearing transaction account are insured in full by the National Credit Union Administration through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to members under the NCUAs general share insurance rules. The term noninterest-bearing transaction account includes a traditional share draft account (or demand deposit account) on which the insured credit union pays no interest or dividend. It does not include any transaction account that may earn interest or dividends, a negotiable order of withdrawal (NOW) account, money market deposit account, and Interest on Lawyers Trust Account (IOLTA), even if share drafts may be drawn on the account. For more information about temporary NCUA insurance coverage of transaction accounts, visit www.ncua.gov.
Regulation "D"
This regulation was implemented by the Board of Governors of the Federal Reserve System, whose job is to ensure that financial institutions maintain adequate reserves for the funds they have on deposit. It limits the number of pre-authorized, automatic or phone transactions you make each month on a deposit account to a maximum of six.
During any month, you may not make more than six transfers from your Affinity Savings, Savvy Savers Club Accounts, Money Manager Account or Club Accounts to another Credit Union account of yours, or to a third party by means of a pre-authorized or automatic transfer or telephonic order or instruction. If you exceed the transfer limitations set forth above in any statement period, your account will be subject to a fee of $25 per item.
The Federal Equal Credit Opportunity Act
The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract), because all or part of the applicant's income derives from any public assistance program, or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law is the National Credit Union Administration, 1775 Duke St., Alexandria, VA 22314.
Other Disclosures
Securities offered by Affinity Investment Services, LLC, 73 Mountain View Boulevard, Basking Ridge, NJ 07920, member FINRA/SIPC. Investments offered by Affinity Investment Services are not deposits or obligations of Affinity Federal Credit Union. They are NOT NCUA INSURED and NOT GUARANTEED by Affinity Federal Credit Union or any governmental agency and are subject to INVESTMENT RISK, including LOSS of PRINCIPAL. Investments may lose value.
Affinity Investment Services, LLC is a wholly owned Subsidiary of Affinity Federal Credit Union.
Tax preparers are independent contractors, experienced in income tax preparation. Tax services are not provided by nor supervised by Affinity Federal Credit Union or Affinity Financial Services.
