Compliance Notices
Notice of Change in Funds Availability Policy
As of July 21, 2011 the first $200 (not $100) of the aggregate of any deposits via “other” checks will be available
on the first business day after the day of deposit.
“Other” checks are checks other than those issued by the federal, state, or local government and payable to
the member, or checks drawn on the credit union. As of March 2010 all checks are centrally processed by the
Federal Reserve. There is no longer a distinction between local and nonlocal checks, which are now grouped
under the “other” checks.
Notice of Changes in Temporary NCUA Insurance Coverage for Transaction Accounts
6.24.2011
All funds in a ‘‘noninterest-bearing transaction account’’ are insured in full by the National Credit Union Administration through
December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to
members under the NCUA’s general share insurance rules. The term ‘‘noninterest-bearing transaction account’’ includes a traditional
share draft account (or demand deposit account) on which the insured credit union pays no interest or dividend. It does not include
any transaction account that may earn interest or dividends, a negotiable order of withdrawal (‘‘NOW’’) account, money market deposit
account, and Interest on Lawyers Trust Account (‘‘IOLTA’’), even if share drafts may be drawn on the account. For more information
about temporary NCUA insurance coverage of transaction accounts, visit www.ncua.gov.
Effective August 1, 2011 – Changes to ATM/debit card fees
Effective August 1, 2011, the following applies to out-of-network ATM usage:
- One (1) out-of-network ATM transaction per month = no charge*
- Two (2) or more out-of-network ATM transactions per month = $2 each*
- Point-of-sale = varies (imposed by merchant at time of sale)
Alliance’s network of surcharge-free ATMs include all CO-OP Network®, US Bank® and 7-Eleven® stores ATMs.
Click here to learn more about the CO-OP Network.
Also effective August 1, 2011, the following changes apply to foreign/international MasterMoney® ATM/debit transactions:
- Transactions made outside the United States = 1% of transaction amount
- Transactions made in foreign currencies = 1% of transaction amount
For more information about your MasterMoney ATM/debit card, please
click here.
Please contact us at 800.232.8669 with any questions.
*Additional charges may be assessed by out-of-network ATM providers.
Unlawful Internet Gambling Enforcement Act
In accordance with the requirements of the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) and Regulation GG, this notification
is to inform you that unlawful Internet gambling transactions are prohibited from being processed through your account or relationship with
our institution and are restricted. Restricted transactions are transactions in which a person accepts credit, funds, instruments or other
proceeds from another person in connection with unlawful Internet gambling.
Under UIGEA, the term “unlawful internet gambling” means “to place, receive, or otherwise knowingly transmit a bet or wager by any means which
involves the use, at least in part, of the Internet where such bet or wager is unlawful under any applicable Federal or State law in the State
or Tribal lands in which the bet or wager is initiated, received or otherwise made.”
In other words, UIGEA relies on State and Federal law to determine what’s illegal under the statute. Online state lotteries, horse racing
and fantasy football are not considered illegal under the statute.
For more information, please call at 800.232.8669 or use the online
Contact Us form.
Effective June 1, 2010: The $250,000 in additional share insurance from American Share Insurance (ASI) will no longer be available.
4.15.2010
Your savings at Alliance Credit Union continue to be federally insured up to at least $250,000 by the National Credit Union Share Insurance Fund (NCUSIF),
and if you have deposits exceeding $250,000 you may be able to restructure your accounts to expand your federal insurance coverage.
IRA and joint accounts are insured up to $250,000 separately from your other accounts.
If you have any questions or concerns about this change in share insurance or want assistance reviewing your accounts, please call us at
800.232.8669 or
click here to download an easy-to-understand guide.
IMPORTANT CHANGE IN TERMS NOTICE: Federal Reserve – Reg CC Change in Funds Availability
2.27.2010
Due to restructure of the Federal Reserve’s check processing operations, effective February 27, 2010, all
checks are considered local checks for determining availability of funds. No checks are considered non-local
at that time. Please refer to the local checks sections of the Funds Availability Policy in your Handbook. All
checks [except cashiers or tellers checks, or checks drawn on the U.S. or State Government] are now generally
available on the second business day after the day of deposit, unless we have reason to be concerned about
payment, in which case you will be notified and the funds will generally available by the seventh business
day after the day of deposit.
Please call us at 800.232.8669 for more information or
click here
to view the entire Funds Availability Policy.