GENCO FCU Overdraft Privilege Disclosure
We believe it is important for you to use your checking account responsibly and to never intentionally overdraw your account. However, we realize that financial shortfalls happen from
time to time and we have several options available for you. As a benefit to our members, we offer these useful services to cover you in the event that you overdraw your checking account.
Alternative payment methods: We offer our members several options to cover insufficient items. If an account is insufficient, the following may be used to pay the item (in this order).
• Linked accounts set up in advance to cover NSF - Overdraft Transfer
• Linked overdraft lines of credit (pre-approved).
• Overdraft Privilege.
Overdraft Privilege - Overdraft Privilege is a service we add to your checking account to cover overdrafts to a set limit, subject to the eligibility criteria as explained below. With Overdraft
Privilege we will generally pay your overdraft items up to $500.00; however, whether your overdrafts will be paid is discretionary and we reserve the right not to pay without any advance
notice to you. For example, we typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts. When we
pay overdraft items for you, you will be charged our normal overdraft fee, currently $28.00 for each item that is presented. Both the amount of the overdraft items and all applicable fees,
including but not limited to the $28.00 overdraft fees, are included in this limit.
• You are more than 30 days past due on any Credit Union loan or delinquent on any other obligation to the Credit Union.
• You are subject to any legal or administrative orders, levy, or are currently a party in a bankruptcy proceeding.
• You have an outstanding balance on an Overdraft Repayment Plan.
• Your account is being reviewed for fraudulent or irregular activity or transactions, in which case your Overdraft Privilege will be suspended.
• The primary account owner is less than 18 years old.
Effective Date All information
listed in this
disclosure is
effective as of
May 1, 2013
• A ChexSystems or any other negative indicator has been reported to us.
• You have an account that has been opened less than 60 days, or if you were overdrawn for more than 5 consecutive days during the first 60 days that your account was open.
• Your account is a fiduciary trust or escrow account. Your account type is not eligible.
• Your account is classified as inactive or dormant.
• You have an unresolved prior loss with the Credit Union.
Suspension/Removal of Privilege - You may be suspended or removed immediately from the Overdraft Privilege without prior notice if:
• You do not bring your account to a positive balance within 30 days of becoming overdrawn (all deposits are applied to the negative balance).
• You fail to meet our eligibility criteria.
• If you meet all the criteria listed above, we may still remove the privilege if we believe you are not managing your account in a responsible manner which may harm you or us.
In the case of account mishandling, we may suspend your Overdraft Privilege even if you meet all of the eligibility criteria listed above.
Transactions Covered by Overdraft Privilege - Overdraft Privilege will be available for all checks written and all ACH items including internet banking bill pay. Overdraft Privilege is not
authorized for ATM and debit card transactions. Even though protection is not authorized, an ATM or debit card purchase can overdraw your account due to timing issues or lack of
proper authorization from the merchant. If these types of overdrafts occur without overdraft protection, and account abuse becomes evident, GENCO Federal Credit Union may revoke
the member’s debit card privileges without notice. (See coverage opt-in)
Payment Order of Items - The order in which items are presented may affect the total fees incurred by a member.
The first items that we pay are any checks cashed by our employees or that you have written to us during the business day. We then pay any items that were submitted
Note: This
electronically. Finally, we pay the remaining items based on dollar amount from the least to the greatest.
disclosure was
NOTE: Please be aware that holds placed on your account for pending electronic transactions, such as hotel or rental car deposits, reduce your available balance and
approved by
may cause your account to become overdrawn.
the Board of
Opt Out - If you do not want to have Overdraft Privilege, simply contact us, and we will provide you with an opt-out form to remove this benefit from your account. If a
Directors at the
member receives direct deposit of Social Security or other federal benefits and they do not want the Credit Union to apply those funds to repay an overdraft, they must
notify the Credit Union and opt out. In this event, the member would not be eligible for Overdraft Privilege.
regular Board
Financial Education - The Credit Union believes that financial literacy and education helps members make informed decisions. Heightened awareness of personal
meeting held on
financial responsibility helps members realize the benefits of responsible money management, understanding the credit process and the availability of help if problems
March 18, 2013
occur. www.MyMoney.gov is the federal government’s website that serves as the one-stop shop for federal financial literacy and education programs, grants and other
information. To request a personal financial toolkit, call 1-888-MyMoney.
Additional Information - Your account agreement describes the duties, obligations, and rights of depositors, authorized signatories and the Credit Union with regard to your deposit
accounts. That account agreement is incorporated herein for all purposes as if it were set forth verbatim as to matters not directly addressed by this disclosure. Your account agreement
and this disclosure shall be construed so as to minimize conflicts between them.
Waiver - The Credit Union’s forbearance from, or delay in, exercising any of the Credit Union’s rights, remedies, privileges, or right to insist on your strict performance of any provisions of
your account agreement, this Overdraft Privilege disclosure, or any other provision related to your account, shall not be construed to be a current or future waiver of the Credit Union’s
rights, remedies or privileges.
Remedy - You and the Credit Union agree that the exclusive remedy and forum for all disputes arising out of the overdraft privilege or your or Credit Union’s performance there under,
except for matters you or the Credit Union take to small claims court, is arbitration by an independent arbitrator pursuant to the applicable rules of the American Arbitration Association,
except as prohibited by law.
P.O. Box 7246 • Waco, Texas 76714-7246
Valley Mills Drive Office
731 N. Valley Mills Dr.
Woodway Branch Office
(254) 776-9550 • (800) 922-6428 409 Crossroads West Center Woodway Dr.
(936) 637-7710
Northeast Branch Office
1500 N. Loop 340
Lufkin Branch Office
1402 S. John Redditt Dr.
Lorena Branch Office
230 N. Frontage Rd.
Lufkin State School Branch Office
Highway 69 N. Central
www.gencofcu.org
Federally Insured By NCUA
Your savings federally insured to at least
$250,000 and backed by the full faith and
credit of the United States Government.
3rd Quarter 2013 report
The building blocks
of your success
every
spinner
is a big
winner!
*APR is annual percentage
rate and is determined by your
credit rating. Offer subject to
credit approval. Rates subject
to change without notice. Normal loan policies and some
restrictions apply. Offer excludes
autos currently financed at
GENCO, indirect, commercial,
motorcycles, RVs and loans with
more than one vehicle. One spin
per member per loan booked. Spin must be monitored by an
approved GENCO employee. Wheel must complete at least one
(1) full spin for discount to apply. Promotion limited to five (5) total
0% loans. Member will spin
wheel once loan is approved and
disbursed. Payment example:
$14.76 per $1,000 borrowed at
3.2% for 75 months.
back by popular demand!
THE “refinance Your AUTO loan” DISCOUNT GAME
When you refinance your
vehicle, you get to spin
the game wheel and win
additional interest rate
discounts – from .10% to
.25% – off already amazingly
low auto rates. And don’t forget, the wheel also includes a
0% APR* auto loan. Plus GENCO loans come loaded...
ILL N
W
Terms Up To 75 Months
T WHE
A
H AY IN?!?
Great Low Rates
W S W
Fast, Friendly Service
U U
O
No Payments For 45 Days
YO
Y
Eligibility Criteria - No application is required for the Overdraft Privilege; eligibility is at the sole discretion of the Credit Union and is based on you managing your
checking account in a responsible manner. Your Overdraft Privilege may be suspended or permanently removed based on the following criteria:
Refinance your current vehicle at
GENCO and spin your way to big
savings TODAY. Call or visit your nearest
branch, or apply on the web at
www.gencofcu.org.
CONGRATS to
William Horton
William wasted Zero
time to get into
GENCO and be
the first 0% APR*
loan winner during
our Spin N Win
promotion!
e x p e c t
president’s message
GENCO’s membership
is growing and so are
our branches!
In February, the renovations to our branch in
Lacy Lakeview took off. We’ve repaired parking
lots, repainted, resurfaced, retiled, recarpeted
and added new signage. The renovations
were completed in April and we hope you are
enjoying the new look and feel of the office.
In May, we began the renovations to the
Lufkin branch on John Redditt Drive. Among
the many changes to this office are new tile,
paint, counter tops and carpet. In addition, we
added on an office to create extra space to
receive members. Our Woodway office is no different - we
are looking to give this location a complete
makeover by adding an entirely new building! We have been actively seeking property in the
same general area that our current branch is
located. We will be building a new permanent
home for our Woodway branch and we hope to be making an exciting announcement in July. Sincerely, Neil Ling,
P r e s i dent
b e t t e r
w w w . g e n c o f c u . o r g
S p e c i a l f o l lo w u p
YOUTH WEEK
This year GENCO representatives
visited local schools during Youth Week
on April 29th and gave an educational
presentation on saving money and planning for the
future. We handed out saplings to 110 4th graders.
This was part of a national program called Fourth
Grade Forresters. Arbor Day is included each year
with Youth Week and since 2007 more than 391,000
fourth graders, all across America rolled up their
sleeves and planted a tree.
The theory of this educational presentation
being, “Watch your tree grow and prosper just like
you watch your savings grow and prosper.” These
children became members of FOURTH GRADE
FORRESTERS USA.
Neighbors still in need
GENCO FCU is proud to announce we collected $14,170 in cash to support the
Red Cross efforts in West following the fertilizer plant explosion. Additionally, we
collected food, water, clothing and personal items for many victims. We cannot
thank you enough for your support and for all the donations given. Thank you
WACO and McLennan County for showing West that you care!
The city of West is still healing and appreciates
your continued support in their efforts to rebuild
their community. If you wish to donate to the
victims of West, you can contact The Waco
Foundation at (254) 754-3404 or go to their website
at www.wacofoundation.org.
AN D TH E C ITY OF
GENCO Federal
Credit Union
Only 35% of teens know how to balance a
checkbook or manage credit cards. During the past
five years, a decline in overall financial knowledge
is especially pronounced among
18-year-olds, and 13% fewer teens
have bank accounts.
Achieving economic prosperity
is difficult. It’s especially hard for
young people who’ve never
learned how to manage
money. GENCO FCU is ideally
positioned to respond
because we believe in
the power of education
and we are starting
early. We’re here to
Savings Safari Club members
Alexis and Taelyn of Robinson, show their
help our youth find
their way to financial spirit during Youth Week by wearing their
moustaches and showing that they are
independence.
great Savings Slueth detectives!
Gift Cards - a gift with endless possibilities.
Gift cards are a great way to give a gift that has endless possibilities. GENCO
offers a gift card that allows you to pick the amount you want to give, there are
no preset values. What’s even better is that our gift cards are from VISA®, so
they are accepted anywhere VISA® is accepted! The cards also come with
the VISA® replacement guarantee if the card is lost or stolen. It’s simple; you choose the amount and we load the card on the spot.
VISA Gift
Cards...
Safer
than
Cash!
You will save more than just time and gas shopping for gifts. Avoid the hassle
and expense of shipping packages. Gift cards are available from our tellers at all of
our branches. Buy a gift card and give the gift that fits everyone – cash! For more
information ask a teller or a GENCO sales representative today!
The building
blocks of
your success
P.O. Box 7246
Waco, Texas 76714-7246
Protect Your Documents With
A GENCO Safe Deposit Box
A safe deposit box is ideal for
protecting important documents. Once
opened, only you will have a key to
your box. Remember the DOs and
DON’Ts of safe deposit box usage in
terms of what should and should not be
stored here.
Safe Deposit Box DOs:
• Jewelry
• Property deeds
• Original documents of any kind
• Car titles
• Insurance documents
• Stock certificates
• Personal computer backup info
Safe Deposit Box DON’Ts:
• Powers of attorney
• Wills
• Trust instruments
It’s better to keep the documents on the
DON’T list in a fireproof safe at home or
at your attorney’s office. For the items
mentioned on the DO list, a safe deposit box
would be a great option. Contact GENCO to
open your safe deposit box today.
Web Payment Center -
(254) 776-9550
(800) 922-6428 (936) 637-7710
www.gencofcu.org
Open For Your Convenience!
In May, we launched our new Payment Center.
You can use this Service Center to make a one-time
loan payment from another financial institution or
credit card. Make loan payments on-line or over
the phone from your checking and savings account
at another financial institution at any time. You will
never have to miss a loan payment again with our
new convenient service.
•Pay your loan by phone
•Make your payment via computer
•Stop by any GENCO branch office
•Celebrate the convenience!
Can’t get to a computer? Come by the office or
call us directly and have our payment center make
the transfer for you.
Credit Card or Debit Card payments are accepted
only over the phone or in person.
Now transfer funds to your loan
from another financial institution
quickly and conveniently for
instant payment.
A nominal fee applies when using the Payment
Center: $5 fee for internet payment and a $10
fee for phone or in person payment.
holidays
Independence Day
Thursday, July 4
Labor Day
Monday, Sept 2
water park
discount
tickets
available
Buy your discounted
tickets at Hawaiian
Falls through
GENCO. Go to
for more details. w w w . g e n c o f c u . o r g
S p e c i a l f o l lo w u p
The building
blocks of
your success
Neighbors still in need
GENCO FCU is proud to announce we collected $14,170 in cash to support the
Red Cross efforts in West following the fertilizer plant explosion. Additionally, we
collected food, water, clothing and personal items for many victims. We cannot
thank you enough for your support and for all the donations given. Thank you
WACO and McLennan County for showing West that you care!
The city of West is still healing and appreciates
your continued support in their efforts to rebuild
their community. If you wish to donate to the
victims of West, you can contact The Waco
Foundation at (254) 754-3404 or go to their website
at www.wacofoundation.org.
AN D TH E C ITY O F
GENCO Federal
Credit Union
P.O. Box 7246
Waco, Texas 76714-7246
Protect Your Documents With
A GENCO Safe Deposit Box
A safe deposit box is ideal for
protecting important documents. Once
opened, only you will have a key to
your box. Remember the DOs and
DON’Ts of safe deposit box usage in
terms of what should and should not be
stored here.
Safe Deposit Box DOs:
• Jewelry
• Property deeds
• Original documents of any kind
• Car titles
• Insurance documents
• Stock certificates
• Personal computer backup info
Safe Deposit Box DON’Ts:
• Powers of attorney
• Wills
• Trust instruments
It’s better to keep the documents on the
DON’T list in a fireproof safe at home or
at your attorney’s office. For the items
mentioned on the DO list, a safe deposit box
would be a great option. Contact GENCO to
open your safe deposit box today.
Web Payment Center -
(254) 776-9550
(800) 922-6428 (936) 637-7710
www.gencofcu.org
Open For Your Convenience!
In May, we launched our new Payment Center.
You can use this Service Center to make a one-time
loan payment from another financial institution or
credit card. Make loan payments on-line or over
the phone from your checking and savings account
at another financial institution at any time. You will
never have to miss a loan payment again with our
new convenient service.
•Pay your loan by phone
•Make your payment via computer
•Stop by any GENCO branch office
•Celebrate the convenience!
Can’t get to a computer? Come by the office or
call us directly and have our payment center make
the transfer for you.
Credit Card or Debit Card payments are accepted
only over the phone or in person.
Now transfer funds to your loan
from another financial institution
quickly and conveniently for
instant payment.
A nominal fee applies when using the Payment
Center: $5 fee for internet payment and a $10
fee for phone or in person payment.
holidays
Independence Day
Thursday, July 4
Labor Day
Monday, Sept 2
water park
discount
tickets
available
Buy your discounted
tickets at Hawaiian
Falls through
GENCO. Go to
www.gencofcu.org
for more details. GENCO FCU Overdraft Privilege Disclosure
We believe it is important for you to use your checking account responsibly and to never intentionally overdraw your account. However, we realize that financial shortfalls happen from
time to time and we have several options available for you. As a benefit to our members, we offer these useful services to cover you in the event that you overdraw your checking account.
Alternative payment methods: We offer our members several options to cover insufficient items. If an account is insufficient, the following may be used to pay the item (in this order).
• Linked accounts set up in advance to cover NSF - Overdraft Transfer
• Linked overdraft lines of credit (pre-approved).
• Overdraft Privilege.
Overdraft Privilege - Overdraft Privilege is a service we add to your checking account to cover overdrafts to a set limit, subject to the eligibility criteria as explained below. With Overdraft
Privilege we will generally pay your overdraft items up to $500.00; however, whether your overdrafts will be paid is discretionary and we reserve the right not to pay without any advance
notice to you. For example, we typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts. When we
pay overdraft items for you, you will be charged our normal overdraft fee, currently $28.00 for each item that is presented. Both the amount of the overdraft items and all applicable fees,
including but not limited to the $28.00 overdraft fees, are included in this limit.
• You are more than 30 days past due on any Credit Union loan or delinquent on any other obligation to the Credit Union.
• You are subject to any legal or administrative orders, levy, or are currently a party in a bankruptcy proceeding.
• You have an outstanding balance on an Overdraft Repayment Plan.
• Your account is being reviewed for fraudulent or irregular activity or transactions, in which case your Overdraft Privilege will be suspended.
• The primary account owner is less than 18 years old.
Effective Date All information
listed in this
disclosure is
effective as of
May 1, 2013
• A ChexSystems or any other negative indicator has been reported to us.
• You have an account that has been opened less than 60 days, or if you were overdrawn for more than 5 consecutive days during the first 60 days that your account was open.
• Your account is a fiduciary trust or escrow account. Your account type is not eligible.
• Your account is classified as inactive or dormant.
• You have an unresolved prior loss with the Credit Union.
Suspension/Removal of Privilege - You may be suspended or removed immediately from the Overdraft Privilege without prior notice if:
• You do not bring your account to a positive balance within 30 days of becoming overdrawn (all deposits are applied to the negative balance).
• You fail to meet our eligibility criteria.
• If you meet all the criteria listed above, we may still remove the privilege if we believe you are not managing your account in a responsible manner which may harm you or us.
In the case of account mishandling, we may suspend your Overdraft Privilege even if you meet all of the eligibility criteria listed above.
Transactions Covered by Overdraft Privilege - Overdraft Privilege will be available for all checks written and all ACH items including internet banking bill pay. Overdraft Privilege is not
authorized for ATM and debit card transactions. Even though protection is not authorized, an ATM or debit card purchase can overdraw your account due to timing issues or lack of
proper authorization from the merchant. If these types of overdrafts occur without overdraft protection, and account abuse becomes evident, GENCO Federal Credit Union may revoke
the member’s debit card privileges without notice. (See coverage opt-in)
Payment Order of Items - The order in which items are presented may affect the total fees incurred by a member.
The first items that we pay are any checks cashed by our employees or that you have written to us during the business day. We then pay any items that were submitted
Note: This
electronically. Finally, we pay the remaining items based on dollar amount from the least to the greatest.
disclosure was
NOTE: Please be aware that holds placed on your account for pending electronic transactions, such as hotel or rental car deposits, reduce your available balance and
approved by
may cause your account to become overdrawn.
the Board of
Opt Out - If you do not want to have Overdraft Privilege, simply contact us, and we will provide you with an opt-out form to remove this benefit from your account. If a
Directors at the
member receives direct deposit of Social Security or other federal benefits and they do not want the Credit Union to apply those funds to repay an overdraft, they must
notify the Credit Union and opt out. In this event, the member would not be eligible for Overdraft Privilege.
regular Board
Financial Education - The Credit Union believes that financial literacy and education helps members make informed decisions. Heightened awareness of personal
meeting held on
financial responsibility helps members realize the benefits of responsible money management, understanding the credit process and the availability of help if problems
March 18, 2013
occur. www.MyMoney.gov is the federal government’s website that serves as the one-stop shop for federal financial literacy and education programs, grants and other
information. To request a personal financial toolkit, call 1-888-MyMoney.
Additional Information - Your account agreement describes the duties, obligations, and rights of depositors, authorized signatories and the Credit Union with regard to your deposit
accounts. That account agreement is incorporated herein for all purposes as if it were set forth verbatim as to matters not directly addressed by this disclosure. Your account agreement
and this disclosure shall be construed so as to minimize conflicts between them.
Waiver - The Credit Union’s forbearance from, or delay in, exercising any of the Credit Union’s rights, remedies, privileges, or right to insist on your strict performance of any provisions of
your account agreement, this Overdraft Privilege disclosure, or any other provision related to your account, shall not be construed to be a current or future waiver of the Credit Union’s
rights, remedies or privileges.
Remedy - You and the Credit Union agree that the exclusive remedy and forum for all disputes arising out of the overdraft privilege or your or Credit Union’s performance there under,
except for matters you or the Credit Union take to small claims court, is arbitration by an independent arbitrator pursuant to the applicable rules of the American Arbitration Association,
except as prohibited by law.
P.O. Box 7246 • Waco, Texas 76714-7246
Valley Mills Drive Office
731 N. Valley Mills Dr.
Woodway Branch Office
(254) 776-9550 • (800) 922-6428 409 Crossroads West Center Woodway Dr.
(936) 637-7710
Northeast Branch Office
1500 N. Loop 340
Lufkin Branch Office
1402 S. John Redditt Dr.
Lorena Branch Office
230 N. Frontage Rd.
Lufkin State School Branch Office
Highway 69 N. Central
www.gencofcu.org
Federally Insured By NCUA
Your savings federally insured to at least
$250,000 and backed by the full faith and
credit of the United States Government.
3rd Quarter 2013 report
The building blocks
of your success
every
spinner
is a big
winner!
*APR is annual percentage
rate and is determined by your
credit rating. Offer subject to
credit approval. Rates subject
to change without notice. Normal loan policies and some
restrictions apply. Offer excludes
autos currently financed at
GENCO, indirect, commercial,
motorcycles, RVs and loans with
more than one vehicle. One spin
per member per loan booked. Spin must be monitored by an
approved GENCO employee. Wheel must complete at least one
(1) full spin for discount to apply. Promotion limited to five (5) total
0% loans. Member will spin
wheel once loan is approved and
disbursed. Payment example:
$14.76 per $1,000 borrowed at
3.2% for 75 months.
back by popular demand!
THE “refinance Your AUTO loan” DISCOUNT GAME
When you refinance your
vehicle, you get to spin
the game wheel and win
additional interest rate
discounts – from .10% to
.25% – off already amazingly
low auto rates. And don’t forget, the wheel also includes a
0% APR* auto loan. Plus GENCO loans come loaded...
ILL N
W
Terms Up To 75 Months
T WHE
A
H AY IN?!?
Great Low Rates
W S W
Fast, Friendly Service
U U
O
No Payments For 45 Days
YO
Y
Eligibility Criteria - No application is required for the Overdraft Privilege; eligibility is at the sole discretion of the Credit Union and is based on you managing your
checking account in a responsible manner. Your Overdraft Privilege may be suspended or permanently removed based on the following criteria:
Refinance your current vehicle at
GENCO and spin your way to big
savings TODAY. Call or visit your nearest
branch, or apply on the web at
www.gencofcu.org.
CONGRATS to
William Horton
William wasted Zero
time to get into
GENCO and be
the first 0% APR*
loan winner during
our Spin N Win
promotion!