HCTA Federal Credit Union
3454 Ellicott Center Drive
Ellicott City, MD 21043
410 461-2257 FAX 410 461-4691
www.hctafcu.org
info@hctafcu.org

Already a member headed for retirement?  Keeping your membership with the Credit Union will continue to afford you and your family financial benefits that can work with you as your needs change.

Once a Member,  Always a Member!
 

REG-E  New Rules on ATM/Debit Card Overdraft Fees

     Much attention has been in the news recently about the Regulation E requirements for financial institutions to implement new rules regarding ATM/Debit Card Overdraft Fees.  At the June 2010 Board of Director's meeting, it was determined that at this time (beginning July 1, 2010) it is in the best interest of our members to suspend the use of overdraft fees across the board for all ATM, Point of Sale, and Debit Card Transactions, since so few of our member cardholders incur these fees.

     What does that mean for our member ATM/Debit Cardholders?
-  If funds are not available in your draft (checking) account when a transaction is made, you can still request that the funds be automatically transferred from your CU Share (savings) account for a fee of $3 (not impacted by REG-E)
-  If funds are also not available in your Share Account to cover the transaction, the transaction may be denied.
-  If the transaction is not denied due to a system inability to determine whether the funds are available, the member cardholder will still be responsible for the amount of the overdraft, but will not be charged a fee.
|-  Cardholders who repeatedly overdraft their account (5 incidents in 1 month) will have their card privileges suspended for one month.
-  Accounts which have 3 suspensions in a 6 month period will have their card privileges cancelled.

The Board will review this policy in December 2010.  An Opt-In/Opt-Out Preference will be required if the credit union determines that overdraft coverage of ATM/Debit Card transactions are needed or preferred by our member cardholders.

Please note that REG-E only addresses ATM/Debit Card Overdrafts:  ATM, Point of Sale or Debit Card Transactions.  Fees will still be allowed on overdrafts resulting from checks, recurring Debit Card Drafts or ACH purchases.

Ban on Cell Phones Sunglasses & Hoodies
Security Measures Have been Increased in the Credit Union Office

    With the advanced technology of our cell phones and their attached cameras, usage of the phones in the Credit Union Office also Could pose a security breach that could have implications for member information confidentiality.  Please be considerate of our policy and pocket your cell phones before entering the Credit Union Office.