Documents

Accessibility Statement

Teachers Credit Union is committed to providing a website that is accessible to the widest possible audience, regardless of technology or ability. We are actively working to increase the accessibility and usability of our website and in doing so, adhere to many of the available standards and guidelines. Teachers Credit Union does not discriminate on the basis of religion, age, race, color, national origin, gender, marital or parental status, or disability. In order to further our commitment to nondiscrimination, we are working to ensure our site conforms to Level Double-A World Wide Web Consortium (W3C) Web Content Accessibility Guidelines (WCAG) 2.0. Such guidelines detail best practices for ensuring assistive technology users can access the site. The guidelines also make the site more user-friendly for all people. Should anyone find information or functionality which is inaccessible, please contact us at (608) 362-8983. We will make every reasonable effort to accommodate.

U.S.A Patriot Act and Teachers Credit Union

On October 26, 2001, President Bush signed into law the U.S.A. Patriot Act. The purpose of this law is to help protect you, your family, and our country from terrorism by preventing terrorist financing. We want you to know that Section 326 of the Act requires Teachers Credit Union to verify the identity of ALL new credit union members. We must also verify the identity of members and non-members added as signatories to new or existing deposit accounts and loans. We must also retain copies of the documents used to verify your identity.

If you are an existing member who joined the credit union before the U.S.A. Patriot Act rules became effective, we may also need to verify and retain copies of any documents used to verify your identity when you request a new deposit account, apply for a loan or are added as a signatory to a new or existing loan or deposit account.

We ask for your understanding as we work to support these efforts to maintain the security of your funds and our country. Please speak with a credit union staff member if you have any questions or concerns about our identity verification procedures.

Truth in Savings

ACCOUNT DISCLOSURES

THE FOLLOWING DISCLOSURES APPLY TO ALL ACCOUNTS SHOWN:

Balance Computation Method. Dividends are calculated by the daily balance method, which applies a daily periodic rate to the principal in your account each day. Accrual of Dividends. Dividends will begin to accrue on the business day you deposit non-cash items (e.g. checks) to your account. Nature of Dividends. For all accounts except share certificate accounts, dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period. National Credit Union Share Insurance Fund. Member accounts in this Credit Union are federally insured by the National Credit Union Share Insurance Fund. Minimum Balance Requirement. The minimum balance to open any account is the purchase of a $5.00 share in the credit union. The Rate Information and Fees & Charges for all accounts are shown on an insert provided to you with this disclosure.

❑ SHARE ACCOUNT __________% as of____________________. Rate Information. The dividend rate and annual percentage yield (APY) disclosed on the accompanying Rate Sheet were accurate as of the date stated there. Please call 608-362-8983 to obtain current rate information. Your dividend rate and APY may change every quarter as determined by the board of directors. Compounding and Crediting. Dividends will be compounded quarterly and will be credited quarterly. 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 1st and the ending date of such dividend period is March 31st. The dividend declaration date follows the ending date of a dividend period and for the example is April 1st. Minimum Balance Requirement. You must maintain a minimum daily balance of $200.00 in your account to obtain the disclosed APY. Transaction Limitations. 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 pre-authorized or automatic transfer or telephonic order or instruction. No more than three of the six transfers may be made by check, draft, debit card, if applicable 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 a closure by the credit union or to the fee disclosed in the Fee Schedule.

❑ SHARE DRAFT ACCOUNT __________% as of____________________. Rate Information. The dividend rate and annual percentage yield (APY) disclosed on the accompanying Rate Sheet were accurate as of the date stated there. Please call 608-362-8983 to obtain current rate information. Your dividend rate and APY may change every quarter as determined by the board of directors. Compounding and Crediting. Dividends will be compounded quarterly and will be credited quarterly. 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 1st and the ending date of such dividend period is March 31st. The dividend declaration date follows the ending date of dividend period and for the example is April 1st. Minimum Balance Requirement. The initial check printing fee must be deposited at the time this account is opened. Transaction Limitations. No transaction limitations apply to this account.

❑ CHRISTMAS CLUB ACCOUNT __________% as of____________________. Rate Information. The dividend rate and annual percentage yield (APY) disclosed on the accompanying Rate Sheet were accurate as of the date stated there. Please call 608-362-8983 to obtain current rate information. Your dividend rate and APY may change every quarter as determined by the board of directors. Compounding and Crediting. Dividends will be compounded quarterly and will be credited quarterly. For this account, the dividend period is quarterly. For example, the beginning date of the dividend period is October 1st and the ending date of the dividend period is December 31st. The dividend declaration date is January 1st. Christmas club amounts will be transferred to the members share accounts on October 1st. Transaction Limitations. 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 pre-authorized or automatic transfer or telephonic order or instruction. No more than three of the six transfers may be made by check, draft, debit card, if applicable, or similar order to a third party. If you exceed the transfer limitations set forth above in any statement period , you account will be subject to closure by the credit union or to a fee. A withdrawal fee will be charged for each withdrawal. See the enclosed Fee Schedule.

❑ REAL ESTATE ESCROW ACCOUNT __________% as of____________________. Rate Information. The dividend rate and annual percentage yield (APY) disclosed on the accompanying Rate Sheet were accurate as of January 1st of this year. Your dividend rate and APY may change every year as determined by the Department of Financial Institution - Division of Savings Institutions. Compounding and Crediting. Dividends will be compounded quarterly and will be credited quarterly. 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 1st and the ending date of such dividend period is March 31st. The dividend declaration date follows the ending date of a dividend period and for the example is April 1st. Transaction Limitations. No withdrawals or transfers from this account are permitted except to pay for taxes and insurance on the property securing your mortgage loan.

❑ JUNIOR SAVERS ACCOUNT __________% as of____________________. This account allows credit union members under the age of thirteen to earn dividends without maintaining a minimum balance. Rate Information. The dividend rate and annual percentage yield (APY) disclosed on the accompanying Rate Sheet were accurate as of the date stated there. Please call 608-362-8983 to obtain current rate information. Your dividend rate and APY may change every quarter as determined by the board of directors. Compounding and Crediting. Dividends will be compounded quarterly and will be credited quarterly. 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 1st and the ending date of such dividend period is March 31st. The dividend declaration date follows the ending date of a dividend period and for the example is April 1st. Transaction Limitations. 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 pre-authorized or automatic transfer or telephonic order or instruction. No more than three of the six transfers may be made by check, draft, debit card, if applicable, 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 or to the fee disclosed in the Fee Schedule.

❑ IRA ACCOUNT __________% as of____________________. IRA's are tax deferred investments for retirement. Rate Information. The dividend rate and annual percentage yield (APY) disclosed on the accompanying Rate Sheet were accurate as of the date stated there. Please call 608-362-8983 to obtain current rate information. Your dividend rate and APY may change every quarter as determined by the board of directors. Compounding and Crediting. Dividends will be compounded quarterly and will be credited quarterly. 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 1st and the ending date of such dividend period is March 31st. The dividend declaration date follows the ending of a dividend period and for the example is April 1st. Early Withdrawal Penalties. A$50.00 credit union processing fee may be assessed at the discretion of the credit union. Federal tax penalties may apply for early withdrawals from IRA accounts.

❑ SHARE/IRA CERTIFICATES Certificates are subject to the bylaws of this credit union and any law or government regulation and rule governing such deposits. Certificates must be surrendered to the credit union for payment to be made. Certificate accounts offer a preferred rate in exchange for your commitment to leave funds on deposit for a set period of time.

❑ If checked, this is the account disclosure you requested. The rate and annual percentage yield (APY) disclosed on the Rate Sheet are accurate as of __________________________(date). Please call us at 608-362-8983 to obtain current rate information. Rate Information. The dividend rate on your account is _______% with an APY of _______%. The APY and dividend rate assume that dividends remain in the account until maturity. A withdrawal or transfer will reduce earnings. Compounding and Crediting. Dividends will be compounded ______________________________ and credited _________________________. The dividend period for this certificate is _____________________________, beginning on the date the account is opened and ending on the maturity date stated below, unless the certificate is renewed. Minimum Balance to Open the Account. You must deposit $________________________ to open this account. Transaction Limitations. After the account is opened, you may not make deposits into the account until the maturity date stated on the certificate. You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal. You may withdraw dividends that have been credited to your certificate before the maturity date without penalty. Maturity Date. Your account will mature at midnight on ___________________________________. Early Withdrawal Penalties. We may impose a penalty for withdrawals from a certificate account before the maturity date. *If your account has an original maturity date of one year or less, or an original maturity date of 24 months, the fee we may impose will be 90 days dividends on the amount withdrawn. *If your account has an original maturity date of 18 months, you may make one withdrawal without penalty as long as the withdrawal is made more than one calendar week after the certificate's date of issue as long as the certificate balance does not drop below $2,500.00. If you make a withdrawal during the first calendar week after issuance or if the certificate balance drops below $2,500.00 due to the one-time withdrawal, the fee we may impose will be 90 days dividends on the amount withdrawn. *If your account has an original maturity date of more than 24 months, the fee we may impose will be 180 days dividends on the amount withdrawn. There are certain circumstances such as death or incompetence of the owner where we may waive or reduce this penalty. The 18 month certificate is not available for IRA accounts. Renewal Policies. ○ Automatically renewable certificate. This account will automatically renew at maturity. You will have a grace period of 10 business days after the maturity date to withdraw funds in the account without being charged the early withdrawal penalty. If you withdraw the funds in the account during the grace period, no dividends will be paid for any day after the maturity date. Each renewal term will be the same as the original term and will begin on the day after the maturity date. The interest rate on an automatically renewed certificate will be the same we offer on the maturity date on new certificates that have the same term, the same minimum balance, and the same features as the original certificate. ○ Non-automatically renewable certificate This account will not automatically renew at maturity. On the maturity date, the funds in the certificate and the accrued dividends will be deposited into your share account.

FUNDS AVAILABILITY POLICY DISCLOSURE

This disclosure describes your ability to withdraw funds at Teachers Credit Union. It only applies to the availability of funds in your transaction accounts (e.g., checking accounts). We reserve the right to delay the availability of funds deposited to accounts that are not transaction accounts for periods longer than those outlined in this disclosure. Please ask us if you have a question about which accounts are affected by our availability policy. For purposes of this disclosure, the terms "you" or "your" mean the member, and the terms "our," "we," or "us" mean Teachers Credit Union. The term "check" means check or share draft, as applicable. 1.

1. YOUR ABILITY TO WITHDRAW FUNDS – Our policy is to make funds from your cash and check deposits available to you on the same business day that we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once they are available, you can withdraw the funds in cash, and we will use the funds to pay checks that you have written. For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit before close of business 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 the close of business or on a day we are not open, we will consider that the deposit was made on the next business day we are open. Our business hours are available at the Credit Union.

2. 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 that we receive your deposit. Depending on the type of check you deposit, funds may not be available until the second business day after the day of your deposit. The first $275.00 of your deposits, however, may be available on the first business day after the day of your deposit. If we are not going to 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 premises, we will send you the notice by the day after we receive your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available. In addition, funds you deposit 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 $6,725.00 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 seventh business day after the day of your deposit.

3. SPECIAL RULES FOR NEW ACCOUNTS – If you are a new member, the following special rules will apply during the first 30 days your account is open. Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $6,725.00 of a day's total deposits of cashier's, certified, teller's, traveler's, and federal, state, and local government checks will be available on the first business day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you. The excess over $6,725.00 will be available on the ninth business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $6,725.00 will not be available until the second business day after the day of your deposit. Funds from all other check deposits will be available on the ninth business day after the day of your deposit.

4. HOLDS ON OTHER FUNDS FOR CHECK CASHING – If we cash a check for you that is drawn on another financial institution, 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.

5. HOLDS ON OTHER FUNDS IN ANOTHER ACCOUNT – If we accept for deposit a check that is drawn on another financial institution, 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.

6. DEPOSITS AT NONPROPRIETARY AUTOMATED TELLER MACHINES (ATMs) – Funds from any deposits (cash or checks) made at ATMs we do not own or operate will not be available until the fifth business day after the day of your deposit. This rule does not apply at ATMs that we own or operate. All ATMs that we own or operate are identified as our machines. 7. FOREIGN CHECKS – Checks drawn on financial institutions located outside the U.S. (foreign checks) cannot be processed the same as checks drawn on U.S. financial institutions. Foreign checks are exempt from the policies outlined in this disclosure. Generally, the availability of funds for deposits of foreign checks will be delayed for the time it takes us to collect the funds from the financial institution upon which it is drawn.

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