Legal Information & Disclosures

(Click on title to read text.)

Website Disclaimer

The following terms of use apply to your access to and use of the Statewide Federal Credit Union's Web site. These terms and conditions are important - please take a moment and read them carefully. By accessing any page of our Web site, you agree to be bound by these terms, whether or not you are our member. If you do not agree to the following terms and conditions, do not access this site or any page thereof.
 
General Information:
All of the information and contents of our Web site are subject to change without notice. Not all products and services are available in all geographic areas. Your eligibility for specific products and services is subject to determination and approval by us.
 
Disclaimer of Warranties and Liabilities:
All information provided on this Web site is believed by us to be accurate and reliable as of the date posted on the site. However, due to the possibility of human and mechanical error, as well as other factors, we are not responsible for errors in or omissions from the information contained in this Web site. All of the information, materials, and functions contained in our Web site are provided on an "AS IS" basis without warranties of any kind, either express or implied, including, but not limited to, warranties or merchantability, fitness for a particular purpose, or freedom from computer virus. We do not warrant the adequacy, accuracy, timeliness, or completeness of the information and materials included in our Web site or in other sites linked to or from our Web site, or that the functions provided will be uninterrupted or error-free, and expressly disclaims any liability for any errors in or omissions from information, materials and functions included in our Web site or any other sites linked to or from our Web site.

In no event will we be liable for any direct or indirect, special, incidental, consequential or punitive damages or lost profits arising in connection with your use of this Web site, or any interruption in the availability of our Web site, delay in operation or transmission, computer virus, loss of data, or otherwise, even if we have been advised of the possibility of such damages or losses.
 
User Indemnification:
You agree to indemnify, defend and hold us harmless from any liability, loss, claim and expense, including attorneys' fees, related to your violation of these terms and conditions or the use of the services and information provided at this Web site.
 
Privacy and Use of Information:
We understand that you are concerned about privacy. For information about how we treat information provided to us on our Web site, please refer to the Privacy Policy.
 
Links to Other Web Sites:
Our Web site may contain links to other Web sites. Such links are not endorsements of any products or services in those sites, and no information in such sites has been endorsed or approved by us. We are not responsible for the content, accuracy, or opinions expressed in other Web sites, and such Web sites are not investigated, monitored, or checked for accuracy or completeness by us. Links to non-Statewide Federal Credit Union Web sites are provided solely for the purpose of providing easy navigation to information that may be useful to users of our Web site.
 
Copyright:
The content, organization, gathering, graphics, design, software, compilation, magnetic translation, digital conversions, and other matters related to this Web site are protected under applicable copyright, trademark, and other proprietary rights, including but not limited to, intellectual property rights. Furthermore, the copying, redistribution, alteration, use, or publication by you of any content or part of this Web site is prohibited without our prior written consent. You do not acquire ownership rights to any content or document obtained by or through this Web site.
 
Location of Operations, Governing Law, and Consent to Jurisdiction:

This Web site (excluding linked sites) is controlled by Statewide Federal Credit Union from its offices in the State of Mississippi, United States of America. While you may choose to access our Web site from other locations, we make no representation that any information, materials, or functions included in our Web site are appropriate or authorized for use in other jurisdictions. Your access from other locations is made on your own initiative; you, and not us, are responsible for compliance with any applicable local laws and regulations.

Your access to and use of our Web site and these terms are governed by and will be construed in accordance with the laws of the State of Mississippi without regard to principles of conflicts of laws, to the extent not pre-empted by federal law. In the event that any provision of these terms is held unenforceable, it will not affect the validity or enforceability of the remaining provisions.

In the event of a dispute concerning or relating in any way to this Web site, you and Statewide Federal Credit Union hereby submit to the exclusive personal jurisdiction and venue of the State and Federal Courts located in the State of Mississippi with respect to such matters.

SUBSTITUTE CHECKS AND YOUR RIGHTS

What is a substitute check? To make check processing faster, federal law permits financial institutions to replace original checks with "substitute checks." These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check. You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check.

Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions.

WHAT ARE MY RIGHTS CONCERNING SUBSTITUTE CHECK?
In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees).

The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law.

If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim.

We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account.

How do I make a claim for a refund?

If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us at 601-420-5535, info@statewidefcu.org, or PO Box 320483, Flowood, MS 39232-0483.  You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances.

Your claim must include—

  • A description of why you have suffered a loss (for example, you think the amount withdrawn was incorrect);
  • An estimate of the amount of your loss;
  • An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss; and
  • A copy of the substitute check or the following information to help us identify the substitute check: the check number, the amount of the check, and to whom the check was written.

TRUTH-IN-SAVINGS DISCLOSURE

REGULAR SHARE ACCOUNT
Last Declared Dividend Rate:   As of the last dividend declaration date,
the dividend rate was ____rates ____% with an annual percentage yield
 (APY) of _________________% on your account.
Nature of Dividends: Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.
Rate Information: The dividend rate and annual percentage yield may change at any time, as determined by the Statewide Federal Credit Union board of directors.
Compounding and Crediting: Dividends will be compounded every month.  Dividends will be credited to your account every month.
Dividend Period: For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the year is January 1, and the ending date of such dividend period is January 31.  All other dividend periods follow this same pattern of dates.  The dividend declaration date follows the ending date of a dividend period, and, for the above example would be February 1.
Minimum Balance Requirements: The minimum balance required to open this account is $25.00. 
You must maintain a minimum daily balance of $25.00 in your account each day to obtain the disclosed annual percentage yield.
Daily Balance Computation Method: Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of Dividends on Noncash Deposits - Dividends will begin to accrue on the business day you deposit noncash (for example, checks) in your account.
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 preauthorized or automatic transfer, telephonic order or instruction, or similar order to a third party.  If you exceed the transfer limitations set forth above, your account will be subject to closure by the credit union.
We reserve the right to, at any time, require not less than 60 days notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D.
Par Value of a Share: The par value of a share in this account is $25.00.
National Credit Union Share Insurance Fund: Member accounts in the Statewide Federal Credit Union are federally insured by the National Credit Union Share Insurance Fund. 

TRUTH-IN-SAVINGS DISCLOSURE

CHRISTMAS CLUB ACCOUNT
Last Declared Dividend Rate:   As of the last dividend declaration date,
the dividend rate was ____rates _____% with an annual percentage yield
 (APY) of _________________% on your account.
Nature of Dividends: Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.
Rate Information: The dividend rate and annual percentage yield may change at any time, as determined by the Statewide Federal Credit Union board of directors.
Compounding and Crediting: Dividends will be compounded every month.  Dividends will be credited to your account every month.
Dividend Period: For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the year is January 1, and the ending date of such dividend period is January 31.  All other dividend periods follow this same pattern of dates.  The dividend declaration date follows the ending date of a dividend period, and, for the above example would be February 1.
Minimum Balance Requirements: No minimum balance requirements apply to this account.
Daily Balance Computation Method: Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of Dividends on Noncash Deposits - Dividends will begin to accrue on the business day you deposit noncash (for example, checks) in your account.
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 preauthorized or automatic transfer, telephonic order or instruction, or similar order to a third party.  If you exceed the transfer limitations set forth above, your account will be subject to closure by the credit union.
We reserve the right to, at any time, require not less than 60 days notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D.
Par Value of a Share: The par value of a share in this account is $25.00.
National Credit Union Share Insurance Fund: Member accounts in the Statewide Federal Credit Union are federally insured by the National Credit Union Share Insurance Fund.
 

TRUTH-IN-SAVINGS DISCLOSURE

IRA SHARE SAVINGS ACCOUNT
Last Declared Dividend Rate:   As of the last dividend declaration date,
the dividend rate was ____rates _____% with an annual percentage yield
 (APY) of _________________% on your account.
Nature of Dividends: Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. 
Rate Information: The dividend rate and annual percentage yield may change at any time, as determined by the Statewide Federal Credit Union board of directors.
Compounding and Crediting: Dividends will be compounded every month.  Dividends will be credited to your account every month.
Dividend Period: For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the year is January 1, and the ending date of such dividend period is January 31.  All other dividend periods follow this same pattern of dates.  The dividend declaration date follows the ending date of a dividend period, and, for the above example would be February 1.
Minimum Balance Requirements: No minimum balance requirements apply to this account.
Daily Balance Computation Method: Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of Dividends on Noncash Deposits - Dividends will begin to accrue on the business day you deposit noncash (for example, checks) in your account.
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 preauthorized or automatic transfer, telephonic order or instruction, or similar order to a third party.  If you exceed the transfer limitations set forth above, your account will be subject to closure by the credit union.
We reserve the right to, at any time, require not less than 60 days notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D.
Par Value of a Share: The par value of a share in this account is $25.00.
National Credit Union Share Insurance Fund: Member accounts in the Statewide Federal Credit Union are federally insured by the National Credit Union Share Insurance Fund.
 

TRUTH-IN-SAVINGS DISCLOSURE

MONEY MANAGEMENT ACCOUNT
Last Declared Dividend Rate:   As of the last dividend declaration date,
the dividend rate was _____rates ____% with an annual percentage yield
 (APY) of _________________% on your account.
Nature of Dividends: Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. 
Rate Information: The dividend rate and annual percentage yield may change at any time, as determined by the Statewide Federal Credit Union board of directors.
Compounding and Crediting: Dividends will be compounded every month.  Dividends will be credited to your account every month.
Dividend Period: For this account type, the dividend period is monthly, for example, the beginning date of the first dividend period of the year is January 1, and the ending date of such dividend period is January 31.  All other dividend periods follow this same pattern of dates.  The dividend declaration date follows the ending date of a dividend period, and, for the above example would be February 1.
Minimum Balance Requirements: No minimum balance requirements apply to this account.
Daily Balance Computation Method: Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of Dividends on Noncash Deposits - Dividends will begin to accrue on the business day you deposit noncash (for example, checks) in your account.
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 preauthorized or automatic transfer, telephonic order or instruction, or similar order to a third party.  If you exceed the transfer limitations set forth above, your account will be subject to closure by the credit union.
We reserve the right to, at any time, require not less than 60 days notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D.
Par Value of a Share: The par value of a share in this account is $25.00.
National Credit Union Share Insurance Fund: Member accounts in the Statewide Federal Credit Union are federally insured by the National Credit Union Share Insurance Fund. 

TRUTH-IN-SAVINGS DISCLOSURE

SHARE CERTIFICATE

Rate Information: The dividend rate on your _____- month share
certificate is ____rates ___% with an annual percentage yield (APY) of
_____________%.  You will be paid this rate until first maturity.
Compounding Frequency: Unless otherwise paid, dividends will be
compounded every month.
Crediting Frequency: Dividends will be credited to your account every month.  Alternatively, you may choose to have dividends paid to you or another account each month, rather than credited to this account.
Dividend Period: For this account type, the dividend period is monthly.
Minimum Balance Requirements: The minimum balance required to open this account is $1,000.00.
You must maintain a minimum daily balance of $1,000.00 in your account each day to obtain the disclosed annual percentage yield.
Daily Balance Computation Method: Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of Dividends on Noncash Items: Dividends will begin to accrue on the business day you deposit noncash (for example, checks) to your account.
National Credit Union Share Insurance Fund: Member accounts in the Statewide Federal Credit Union are federally insured by the National Credit Union Share Insurance Fund.
Transaction Limitations: After the account is opened, you may not made additions into the account until the maturity date stated on the account.
You may not make withdrawals of principal from your account before maturity.
You can only withdraw dividends credited in the term before maturity of that term without penalty.  You can withdraw dividends anytime during the term of crediting after they are credited to your account.  This dividend withdrawal limitation does not apply if you have made arrangements to have dividends paid to you or to another account in lieu of having them credited to this account.
Time Requirements:
Your share certificate will mature as indicated on the certificate.
Early Withdrawal Penalties (a penalty may be imposed for withdrawals before maturity):
If your account has an original maturity of 12 months or less, the penalty we may impose will equal 30 days' dividends on the amount withdrawn subject to penalty.
If your account has an original maturity of more than 12 months, the penalty we may impose will equal 90 days' dividends on the amount withdrawn subject to penalty.
There are certain circumstances, such as the death or incompetence of an owner, where we may waive or reduce this penalty.  See your plan disclosure if this account is part of an IRA or other tax qualified plan.
Withdrawal of Dividends Prior to Maturity: The annual percentage yield is based on an assumption that dividends will remain in the account until maturity.  A withdrawal will reduce earnings.
Automatically Renewable Account: This account will automatically renew at maturity.  You may prevent renewal if we receive written notice from you before maturity of your intention not to renew or you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any).  We can prevent renewal if we mail notice to you at least 30 calendar days before maturity.
____   If either you or we prevent renewal, dividends will not accrue after final maturity.
_____ If either you or we prevent renewal, your deposit will be placed in a dividend-bearing account.
Each renewal term will be the same as the original term, beginning on the maturity date.  The dividend rate will be the same we offer on new term share accounts on the maturity date which have the same term, minimum balance (if any), and any other features as the original term account.
There is no grace period following the maturity of this account during which you may withdraw the funds without being charged an early withdrawal penalty. 

TRUTH-IN-SAVINGS DISCLOSURE 

CHECKING ACCOUNT

Minimum Balance Requirements: No minimum balance requirements apply to this account.
Transaction Limitations -  We reserve the right to, at any time, require not less than 60 days notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D.
Par Value of a Share: The par value of a share in this account is $25.00.
National Credit Union Share Insurance Fund: Member accounts in the Statewide Federal Credit Union are federally insured by the National Credit Union Share Insurance Fund.
 
 

VISA GIFT CARD TERMS AND DISCLOSURE

Terms and Conditions:
The following are your Statewide Visa Gift Card Terms and Conditions. In these Terms and Conditions "you" or "your" means the person who has received the Statewide Visa Gift Card; "we", "us" or "our" means Statewide Federal Credit Union; "Card" means the Statewide Visa Gift Card. Please read the following carefully and keep them for your records. Upon receipt, the Gift Card should be signed immediately. By accepting and using your Card, you are agreeing to these Terms and Conditions.
 
Gift Card Usage:
Your Statewide Visa Gift Card is issued by Statewide Federal Credit Union and may be used for purchases at most merchants where Visa Debit is accepted. The card may not be used at some merchants including airlines, recurring payments, and non-financial money exchange establishments, hotels, gambling establishments, rental car agencies or "pay at the pump" gasoline. (You may purchase gas by presenting the card to the attendant). Some merchants, like restaurants, may attempt to submit authorizations against the card for an amount greater than the actual purchase amount. If a merchant attempts an authorization greater than the balance remaining on your gift card, it may be declined.

Before using your Statewide Visa Gift Card, you must activate it by calling the number on the sticker on your card from your home phone number or by registering the card on the Gift Card Website, which can be accessed at www.statewidefcu.org. You must sign the back before you can use the Card.

This Gift Card is not a credit card. You may only use it when there is a balance remaining on the card and only up to the amount left on the card. Purchases will be deducted from your Statewide Visa Gift Card until the value reaches zero. If you are given value through the use of the Card greater than the balance remaining, you will pay us on demand the amount by which your transactions exceeded the balance remaining on the Card.

The Statewide Gift Card is non-reloadable and cannot be reused. There will be a $1.50 inactivity fee charged each month after the card has been inactive for 6 months..

If you use your gift card for a transaction in a foreign currency the transaction will be converted to U.S. dollars in accordance with applicable Visa operating regulations for international transactions. The conversion rate in dollars will be 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 in each instance, plus or minus any adjustment determined by the issuer.