NOTICE OF PRIVACY PRACTICE OPT-OUT INFORMATION
You are an owner of this Credit Union, and maintaining your trust and confidence is a high priority. That's why we want you to know how we protect your privacy when we collect and use information about you.
We wish to provide you with competitive products and services to meet your financial needs. To do so, we enter into agreements with other companies that provide either services to us or financial products for your consideration. Thus, we may disclose to these companies nonpublic information about you.
Our Security Measures:
To protect your privacy, we only work with companies that agree to maintain strong confidentiality protections and limit the use of the information we provide.
We restrict access to your information to those employees and independent contractors 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 and industry standards to guard your personal information.
Information We Collect:
The nonpublic information about you thnat we collect and may disclose (such as your name, address, social security number, assets, income, etc.,) come from: Membership forms, loan applications, other forms; your transactions with us; information from a consumer reporting agency; or from employers or other financial institutions (such as when we verify information you've provided on an application or other form.)
Sharing Your Information:
We may disclose nonpublic personal information about you to non-affiliated third parties as permitted or required by law.
These disclosures typically include information to process transactions on your behalf, conduct the operations of our Credit Union, and/or follow your instructions as you authorize.
Should you end your membership with our Credit Union, we will not share information we have collected about you, except as required by law.
You Can Opt-Out:
If you prefer that we do not disclose nonpublic information about you to non-affiliated third parties, you may opt out of those disclosures (other than disclosures permitted by law.) Non-member Joint Account holders, co-borrowers and guarantors may choose to opt out. (Should a Joint Account holder exercise this right, it will apply to everyone listed on that same account.)
If you do wish to opt out of our disclosures to non-financial companies (such as direct marketers sending material, at our request, to educate you about our services) please mail your request to us. Clearly print your name, address and your Credit Union Member Number. You must state that you do not wish to have your name and address disclosed to our mailing services.
Notify us via U.S. Postal Service to P.O. Box 4928, Walnut Creek, CA 94596-0928.
Questions about our Privacy Practices? Please call us at (925) 295-5626 - we're here to serve you.
New Legislation, effective August 22, 2010
New legislation requires that you ask us to pay overdrafts for ATM transactions and everday debit card transactions, such as POS (point-of-sale).
An overdraft occurs when you do not have enough money in your account to cover a transaction. A tranaction occurs when you write a share draft (check), use your account number for payments, such as automatic bill-pay programs, or use your debit card at an Automated Teller Machine (ATM), or at a merchant (Point-of-Sale). We cover your overdrafts in three different ways:
- We have standard overdraft practices that you authorize in your membership agreement. This includes transfer from a Loan for Overdraft Protection. The fees for these transactions are disclosed in the Fee Schedule, updated from time-to-time.
- If an electronic deposit arrives after the overdraft, but before we return an item, the item may be paid though it initially overdraws your account.
- Your account stays overdrawn (in a negative status) until a deposit is received.
We may pay overdrafts at our own discretion, which means we DO NOT GUARANTEE that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft debit card, your transaction will be declined. Your account may occasionally be overdrawn by debit card transactions due to computer or other electrical problems beyond our control.
We may authorize and pay overdrafts for the following types of transactions:
- checks and other transactions made using your account number;
- automatic bill payments.
Unless you ask us (see authorization below) we will NOT pay overdrafts for the following transaction types:
- ATM transactions, and
- Everyday debit card transactions, such as POS (point-of-sale)
Standard overdraft fees (subject to change without notice);
- We may charge you a fee of up to $15 each time we pay an overdraft that occurs with debit card use. If your account is overdrawn for five or more consecutive business days, we may charge an additional $5 per day.
- There is no limit on the total fees we can charge you for overdrawing your account.
Overdraft fees due to drafts (checks) or electronic transactions other than debit card are subject to $15 per item.
----------------------To pay of Not to Pay-------------------Please select YOUR OPTION below------------------------------------
_________ I do not want KDFCU to authorize and pay overdrafts on my ATM and everyday debit card transactions.
_________ YES, I want KDFCU to authorize and pay overdrafts on my ATM and everyday debit card transactions and I agree to pay any fees assessed.
I understand I may change this option in the future by providing you written notice at your PO Box 4156, Walnut Creek, CA 94596-0156, but it will not change the payment of items nor fees of previous transactions.
PRINT NAME_____________________________ SIGNATURE & DATE _____________________________________
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