Olympia Credit Union

Olympia WA Credit Union

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Electronic Funds

Transfer Services Disclosure

Revised on 04/01/2000

I. Validation

The access device is not validated until the appropriate agreement for the Electronic Funds Transfer has been signed. You can not use the card or PIN/Access Code to transfer money into or out of your account until validated by the credit union.

If you do not want to use the card, please destroy it at once by cutting it in half. If you do not want to use the PIN/Access Code, please destroy the notice containing the assigned code at once.

II. Member Liability

Tell us AT ONCE if you believe your card or PIN/Access Code has been lost or stolen. Telephoning is the best way of keeping your possible losses down. You could lose all of your money in your account (plus your maximum line of credit).

You agree to notify us immediately of the loss, theft, or use without your permission of any card or PIN/Access Code. You may be liable for the unauthorized use of your card. You will not be liable for unauthorized use that occurs after you notify the Credit Union verbally or in writing, of the loss, theft, or possible unauthorized use within two business days (48 hours) of discovery.

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 from telling us, we will extend the time periods.

III. Telephone Number and Address to be Notified in Event of Unauthorized Transfer

If you believe your card or PIN/Access Code has been lost or stolen, or that someone has transferred money from your account without your permission, call us at: 360-754-5559 or 1-800-550-5559 or write us at:

Olympia Credit Union
P.O. Box 7549
Olympia, WA 98507-7549

IV. Olympia Credit Union Business Day

Olympia Credit Union business days are Monday through Friday (excluding holidays) from 7:30 a.m. to 5:30 p.m.

V. Types of Available Transfers and Limits on Transfers

  1. Exchange ATM Card – Access to Exchange, ACCEL, Plus, and STAR Networks:
    1. Withdraw cash from your checking, savings, or line of credit accounts.
    2. Make deposits to your checking, savings, or line of credit accounts.
    3. Do an inquiry on your checking, savings, or line of credit accounts.
    4. Transfer funds between your checking, savings, or line of credit accounts.
    5. Make purchases from checking for point of sale (POS) transactions (ACCEL).
    6. Limitations and Frequency: Maximum cash withdrawal is $500 per day from Automated Teller Machines; and $1,000 per day for Point of Sale purchases.
  2. VISA Check (Debit) Card – Access to VISA and Interlink POS networks from checking; and Exchange, ACCEL, POS and Plus Networks:
    1. Purchase goods and services from checking any time you see ACCEL, VISA, or INTERLINK logos.
    2. Daily limit is $1,000 or up to the amount available in your checking account, whichever is less.
      NOTE: Visa cards may not be used for any illegal transactions.
      Foreign transactions: Purchases, cash withdrawals and cash advances made in foreign currencies will be debited from your account in U.S. dollars. The exchange rate between the transaction currency and the billing currency used for processing international transactions is a rate selected by Visa from a range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate visa itself receives, or the government-mandated rate in effect for the applicable central processing date. The exchange rate used on the processing date may vary from the rate that would have been used on the purchase date or cardholder statement posting date. A fee of 1% will be imposed on all cash advances and credits to your account. A foreign transaction is any transaction that you complete or a merchant completes on your card outside of the U.S., Puerto Rico, or the U.S. Virgin Islands.
  3. Credit Union Connection or Home Banking with Bill Payer
    1. Transfer by telephone or personal computer to or from savings, checking, or line of credit accounts, or have the proceeds sent to the mailing address on your account, and made payable to you.
    2. Transfer funds from savings or checking accounts to any of your loans.
    3. Transfer funds from your savings, checking or line of credit to another OCU account designated on the Credit Union Connection/Home Banking Transfer Form.
    4. Authorize Olympia Credit Union to make monthly withdrawals to designated payees for recurring payments, such as mortgage payments, rent, health club dues, etc.
    5. Instruct Olympia Credit Union to make payments to designated payees on demand, such as utility bills, charge account payments, insurance, etc.
    6. As used in this section, designated payee means a party included on the list of named persons or business entities associated with your Olympia Credit Union PIN/Access Code. Each designated payee will be assigned a code number which must be used when instructing the Credit Union Connection or Home Banking system.

VI. Information to Third Parties

The Credit Union will provide information to third parties about your account(s) or any electronically initiated transaction only in the following circumstances:

  1. In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; or
  2. Where necessary for completing transfers; or
  3. In order to comply with a government agency, a court order or other legal processes; or
  4. You give us written permission.

VII. Right to Receive Documentation of Transfers

  1. Exchange Card/VISA Check Card Transactions: You can get a receipt at the time you make the transfer to or from your account using an Automated Teller Machine or a Point of Sale Terminal.
  2. Preauthorized Debit or Credit: You can call Credit Union Connection at 800-659-8355 , access Home Banking through our website or call us to find out whether or not a withdrawal or deposit has been made.
  3. Periodic Statements: You will get a monthly account statement unless there are no transactions in a particular month. In any case you will get a statement at least quarterly.

VIII. Stop Payment of Pre-Authorized Transfers

  1. Right to Stop Payment: If you have told us in advance to make regular payments out of your account you can stop any of these payments. Here’s how:
    Call us at (360) 754-5559 or 800-550-5559 (outside the Olympia calling area) or write us at Olympia Credit Union, P.O. Box 7549, Olympia, WA 98507-7549 in time for us to receive your request three (3) business days 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 for each stop payment order you give.
  2. Notice of varying amounts: If these regular payments may vary in amount, the person you are going to pay must tell you ten (10) days before each payment when it will be made and how much it will be.
  3. Liability for failure to stop payment of pre-authorized payments: If you order us to stop one of these payments three (3) business days or more before the transfer is scheduled, and we do not do so, we will be liable for losses or damages, provided you gave us the correct information.

IX. Credit Union Liability

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:

  • If, through no fault of ours, you do not have enough money in your account to make the transfer.
  • If the transfer would go over the credit limit on your line of credit.
  • If the Automated Teller Machine where you are making the transfer does not have enough cash.
  • If the terminal was not working properly and you knew about the breakdown before you started the transfer.
  • If circumstances beyond our control (such as fire or flood) prevent a transfer, despite reasonable precautions we have taken. There may be other exceptions stated in our agreement with you.

X. Changes or Termination of the Agreement

  1. Changes: We may change, according to law, the terms of your Electronic Funds Transfer Service. These changes will apply to your new purchases and advances and to your outstanding balance. These changes may or may not affect your credit account. We will mail notice of such changes to you at the address shown in your records. You agree to notify the credit union of any changes in your address.
  2. Termination: You agree that we may terminate your Agreement and the use of your Electronic Funds Transfer Services if:
    1. You or any authorized user of your Card PIN/ Access Code breach this or any other agreement with us, or
    2. We have reason to believe that there has been or may be an unauthorized use of your PIN/Access Code and Card, or
    3. We have notified you that we have cancelled or will cancel your Agreement.

You can terminate your agreement by notifying us in writing and returning all cards. Termination of this service will be effective the first business day following our receipt of your written notice.

Termination of your Electronic Funds Transfer Service will not effect the rights and responsibilities of the parties under the Agreement for transactions initiated before termination, and will not affect your obligation to pay your outstanding balance.

XI. Error Resolution

In case of errors or questions about your electronic transfer transactions from your share and share draft accounts, telephone us at the following number or send us a written notice to the following address as soon as you can. We must hear from you no later than sixty (60) days after we sent the first statement on which the problem appears.

Call us at:

360-754-5559 or 1-800-550-5559 (outside the Olympia area)
or write to:

Olympia Credit Union
P. O. Box 7549
Olympia, WA 98507-7549

  • Tell us your name and account number.
  • Describe the electronic transfer you are unsure about, and explain as clearly as you can why you believe the Credit Union made an error or why you need more information.
  • Tell us the dollar amount of the suspected error.

If you tell us verbally, we may require that you send us your complaint or question in writing within ten (10) business days.

We will tell you the results of our investigation within ten (10) business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or question. If we decide to do this, we will re-credit your account within ten (10) business days for the amount you think is in error, so that you will have the use of your 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 ten (10) business days, we may not re-credit your account. If we decide there was no error, we will send you a written statement within three (3) business days after we complete our investigation. You may ask for copies of the documents that we used in our investigation.