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| FYI for CU Members |
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Late Fee on Overdue Loans As of 2/1/08, the credit union will charging a $15.00 "Late Fee" on loans that are overdue by 10 days or more
Help Protect Yourself from Identity Fraud We continue to get "Fraud Alert" warnings at the credit union regarding different areas. As it relates to our members, the one constant reminder is to never divulge your personal or financial information in response to an e-mail request. The credit union or its affiliates will never ask for this information in this context. ------ "When in doubt - don't" is the best rule to follow. Call the credit union before you release this information in any form to verify its authenticity. ------ Please check our new "Consumer Fraud Alert" web page. This is a continuing attempt to keep you informed about the most recent efforts to "con" us. ------
The alert tells creditors to follow certain procedures before they open new accounts in you name or make changes to your existing accounts. The three consumer reporting companies have toll-free numbers for placing an initial 90-day fraud alert; a call to one company is sufficient:
Here are some websites that you can use to help prevent Identity Theft and/or report it:
Inclement Weather Policy
The credit union will close, due to inclement weather, using the following guidelines: 1. If the weather is extreme, then we will close. 2. If the weather is bad, we will do the necessary data processing and close when it is accomplished. 3. If the weather permits and the school district is closed, we will stay open until 3 PM. 4. If the school district delays the start of school, we will mirror their delay schedule (i.e. either a 1 hour or 2 hour delay). -with a 1 hour delay we will open at 8 AM -with a 2 hour delay we will open at 9 AM In any of the above situations, please call the credit union before you come so you do not make a "wasted" trip in bad weather. ------------------ Notice to All Members
Under the FACT Act of 2003, the Valley Central Federal Credit Union is required to provide the following notice to all members at the time they join the credit union. ---------- "We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit report." -----------
Attention All VCFCU Debit & Credit Card Holders ! We have listened to your requests, and effective immediately you may change your PIN number on your Debit and/or Credit card from the one originally issued to you to the PIN number that you desire. Here are the simple steps:
Note The new number is now available for immediate use. PIN changes will not be permitted for blocked or closed accounts. ___________________________________________________
Inactive Accounts Inactive accounts, for the purpose of this policy, are those accounts that have had no activity for at least 12 months. When an account is listed in this category, VCFU will notify the member that this account has been classified as inactive. Effective three months after the member has been notified, if the member has not activated the account by making a deposit, withdrawal, or by closing the account, the account will be accessed a $5.00 per month inactive fee until all the funds have been withdrawn. The withdrawal of the $5.00 per month fee shall not constitute member activity in the that account. If you have any questions regarding your account, give Stan Davie a call at (845) 457-5592 or 5862. ___________________________________________________
Patriot Act 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 a new account or sub-account. What this means to 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. Thank you for your cooperation and support in implementing this very important governmental legislation.
___________________________________________________ "Free" Credit Reports The "Fair and Accurate Credit Transaction Act" Signed into law on December 1, 2003 gives all Americans The right to check their credit reports annually.... for "free" ! --- You may request your "FREE" annual credit report any of the following ways: On the internet at: www.annualcreditreport.com By calling toll-free: (877) 322-8228 By mailing your request to: Annual Credit Request Service PO Box 105281 Atlanta, GA 30348-5281
To Correct "Errors" in your credit report: Call the above number or click on the link to request a free credit report. then Call the toll-free number at the bottom of the report to "challenge" what is incorrect. finally The credit bureau sends a form to the bank or credit union. This is completed so as to verify or refute the "challenge" and sent back. This process should correct the error. (this information was provided to us by Experian on 6/9/06)
___________________________________________________ Keep Your Credit Union Receipts It is very important for you to keep your transaction receipts. They are your proof that the transaction took place. These receipts should be maintained for at least 30 to 60 days and then can be shredded. ___________________________________________________
Identity Fraud
This is real and growing problem. We are constantly receiving information about this danger. Protect yourself by shredding all documents that show any personal or financial infomation. Also, be very careful what types of information you share, in anyway, with others. Before you release any information, ask how it is going to be used. Most credible organizations will tell you if they intend on selling or sharing your information with others.
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