Account Agreements, Policy Statements And Disclosures

 PPL GOLD Credit Union (Credit Union) may change its bylaws and the terms of its agreements, policy and disclosures. You will be given reasonable notice of any changes in writing or through other methods permitted by law.

Within a reasonable time you agree to notify us of any change in your name, address or employment by writing to: PPL GOLD Credit Union, 4703 Hamilton Boulevard, Allentown, PA 18103. The Credit Union reserves the right to close your accounts if your membership is terminated for any reason.

PPL GOLD Bill Pay Disclosure
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PPL GOLD Internet Banking Disclosure
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PRIVACY POLICY - Rev 4/10

FACTS	WHAT DOES PPL GOLD CREDIT UNION DO  WITH YOUR PERSONAL INFORMATION?
Why?	Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
What?	The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and payment history Credit history and credit scores When you are no longer our member, we continue to share your information as described in this notice.
How?	All financial companies need to share members’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their members’ personal information; the reasons PPL GOLD Credit Union chooses to share; and whether you can limit this sharing.

Reasons we can share your personal information	Does PPL GOLD Credit Union share?	Can you limit this sharing?
For our everyday business purposes— such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus	YES	NO
For our marketing purposes— to offer our products and services to you	YES	YES
For joint marketing with other financial companies	NO	NO
For our affiliates’ everyday business purposes— information about your transactions and experiences	NO	NO
For our affiliates’ everyday business purposes— information about your creditworthiness	NO	NO
For non-affiliates to market to you	NO	NO

 

Questions?

Call 484-223-4200 or go to WWW.PPLGOLD.ORG

 

What We Do
How does PPL GOLD Credit Union protect my personal information?	To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.
How does PPL GOLD Credit Union collect my personal information?	We collect your personal information, for example, when you Open an account or deposit money Pay your bills or apply for a loan Use your credit or debit card We also collect your personal information from other companies
Why can't I limit all sharing?	Federal law gives you the right to limit only sharing for affiliates’ everyday business purposes—information about your creditworthiness affiliates from using your information to market to you sharing for non-affiliates to market to you State laws and individual companies may give you additional rights to limit sharing

Definitions
Affiliates	Companies related by common ownership or control. They can be financial and nonfinancial companies PPL GOLD Credit Union has no affiliates
Non-affiliates	Companies not related by common ownership or control. They can be financial and nonfinancial companies. PPL GOLD Credit Union does not share with non-affiliates so they can market to you
Joint marketing	A formal agreement between non-affiliated financial companies that together market financial products or services to you. PPL GOLD Credit Union does not jointly market

 

Other important information

For more information on our Privacy Policy, you may write us at 4703 Hamilton Blvd., Allentown, PA 18103, call us at 484-223-4200, or visit our website at WWW.PPLGOLD.ORG.

Truth-In-Savings

Account Agreements - Terms and Conditions

1. Dividend Rates: Credit Union Primary Share Account, Share Certificate, Checking Account, IRA Savings and Holiday Club Account dividend rates are determined by the Credit Union’s Board of Directors and may change every dividend period. (See paragraph 17, IRA Savings Accounts)

2. Dividend Notice: Dividends are paid from current Credit Union income and available earnings, after the required transfers of reserves at the end of a dividend period.

3. Dividend Compounding And Crediting: Primary Share Account, Share Certificate, Checking Account, IRA Savings and Holiday Club dividends are compounded monthly and are credited to members’ accounts every month.

4. Minimum Balance Requirements: The minimum balance requirement for a Primary Share Account is $5.00. The minimum balance requirement for a Share Certificate is $1,000. There is no minimum balance requirement for a Checking Account, Holiday Club or IRA Savings Account.

5. Daily Balance Computation Method: Dividends are calculated by the daily balance method, which applies a daily periodic rate to the account balance.

6. Dividend Accrual Non-cash Deposits: Dividends accrue beginning the business day non-cash items (such as checks and money orders) are deposited into your account.

7. Transaction Limitations: No transaction limitations apply to a Primary Share Account, Holiday Club or IRA Savings Account.

Limitations do apply to Share Certificates. Once a Share Certificate Account is opened, additions to the account or principal withdrawals cannot be made until after the established maturity date. Dividends can be withdrawn at any time during the established maturity term after the dividend has been credited to your account.

The Credit Union reserves the right to require written notice, at any time, not less than seven days before a withdrawal from an interest-bearing account, other than a time deposit or from any other savings account as defined by the Federal Reserve Board Regulation D.

8. Share Certificate Penalty Provision: A substantial penalty may be imposed if Share Certificate funds are withdrawn prior to maturity. Share Certificates with qualifying periods of one year or less forfeit 90 days of dividends, which is subtracted from the principal and any accrued dividends. Share Certificates with qualifying periods over one year forfeit 180 days of dividends, which is subtracted from the certificate principal and any accrued dividends.

Under certain circumstances, such as death or incompetence, the law permits, and in some cases requires, a waiver of the early withdrawal penalty. See your plan disclosure if your account is an IRA or other tax qualified plan.

The annual percentage yield is based on the established Share Certificate maturity date. Early withdrawal will reduce earnings.

9. Share Certificate Withdrawals: Any Share Certificate withdrawal cancels the certificate.

10. Share Certificate Notification: At least 10 days prior to a Share Certificate’s maturity, the primary account holder will receive written notification of optional terms. The Share Certificate will be automatically renewed, unless the Credit Union is otherwise instructed by the primary account holder.

11. Ownership Of Accounts And Beneficiaries: An Individual Account is owned by one person. A Joint Account With Survivorship is owned by two or more persons; each person intending that upon death the balance of the account will belong to the survivor(s). If there are two or more survivors, each owns the account balance as joint tenants with survivorship and not as tenants in common.

Corporate, Partnership And Organization Accounts require a separate authorization form designating the person authorized to withdraw funds and the required conditions for withdrawal from any account in the name of the legal entity such as the partnership, corporation or organization.

Uniform Transfers/Gifts To Minors Account: A Uniform Transfers/Gifts to Minors Account (UTTMA/UGMA) is an individual account opened by a custodian who deposits funds as an irrevocable gift to a minor. The minor to whom the gift is made is the beneficiary of the custodial property in the account. The custodian has possession and control of the account for the exclusive right and benefit of the minor, and barring a court order otherwise, is the only party entitled to make deposits, withdrawals, or close the account. We have no duty to inquire about the use or purpose of any transaction. If the custodian dies, we may suspend the account until we receive instructions from any person authorized by law to withdraw funds or a court order authorizing withdrawal.

12. Liability: The individual account holder and joint account holders agree to the Credit Union’s account terms and conditions and the schedule of any fees and charges imposed by the Credit Union. The account holder(s) authorize the Credit Union to deduct fees and/or charges from account balance(s), and agree to pay any additional reasonable charges imposed for services requested that are not covered by this agreement. Joint account holders also agree to be jointly and individually liable for any account deficit from fees, charges or overdrafts, when caused by any joint account holder authorized to withdraw from the account, and are liable for the Credit Union’s costs to collect the deficit, including attorney’s fees as permitted by law. The account holder(s) further agree that, at the Credit Union’s discretion, membership rights can be suspended or terminated if the terms of this agreement are violated.

13. Deposits: Non-cash deposits (checks, money orders, etc.), including items drawn on the Credit Union, are given provisional credit until collection is final. Credit for deposits or payable items in foreign currency will be at the exchange rate for U.S. dollars in effect when final collection is made. The Credit Union is not responsible for transactions initiated by mail or an outside depository until the deposit is recorded. All deposit transactions received after the Credit Union daily cut-off time on a business day we are open, or received on a day when we are not open for business, will be treated and recorded as if made on the next following business day the Credit Union is open. We are prohibited by law from guaranteeing the payment of dividends will be at the contracted rate. Dividend payments are based upon the money we actually earn and that is available for distribution at the end of the dividend period. Unless otherwise agreed upon in writing, the account holder(s) waive any right to receive an original item after it is paid.

14. Withdrawals: Unless otherwise agreed upon, the account holder(s) who sign in the designated signature area on the signature card, including any agents, may withdraw or transfer all or part of the account balance at any time on a form approved by the Credit Union. The account holder(s), unless a written contrary notice is received, authorize every other account holder signing on the signature card to endorse any payable item, order for deposit to the account, or any other Credit Union transaction. The Credit Union may charge a postdated check against your account, unless written notice of the postdating was given to us. The fact that we may honor withdrawal requests which overdraw the final collected account balance does not obligate the Credit Union to do so in the future, unless required by law. Withdrawals will be made first from collected funds, and we may, unless prohibited by law or our written policy, refuse any withdrawal or transfer request which is attempted by any method not permitted, which is for an amount less than any minimum withdrawal requirement, or which exceeds our frequency limitations. If we do honor a nonconforming request, repeated abuse of the stated limitations may eventually force us to close the account. We apply frequency limitations to the date a transaction is completed by us, not to the date it is initiated. The Credit Union reserves the right to require any account holder(s) to notify us of your intention to withdraw shares or deposits from the account as explained in our bylaws. Withdrawals from a time deposit prior to maturity or prior to the expiration of any notice period may be restricted and may be subject to penalty.

15. Pledges: Each account owner may pledge all or part of account funds for any purpose the Credit Union agrees to unless the Credit Union is instructed differently in writing. All pledges must be satisfied first before the rights of joint owner(s), survivor(s) or a trust account beneficiary or beneficiaries can withdraw funds.

16. Account Statements: If an account statement error or any unauthorized payments or transactions are discovered, you must promptly notify the Credit Union. If you fail to discover the error in a reasonable time, you may have to share the loss with the Credit Union or bear the loss entirely depending on whether the Credit Union exercised ordinary care and if not, whether the Credit Union substantially contributed to the loss. The time to examine statements and report any discrepancies cannot in any circumstances exceed a total of 60 days from the date the statement is made available to you.

17. IRA Savings Accounts:The Credit Union does not offer Individual Retirement Accounts (IRAs). However, in a previous merger with another Credit Union, PPL GOLD Credit Union inherited members with IRA Savings Accounts. Truth-In-Savings regulations require the Credit Union to include the account terms and conditions of any existing accounts, whether they are currently offered or not.

18. Credit Union Lien And Security Interest: When you owe the Credit Union money as a borrower, guarantor, endorser or otherwise, the Credit Union has a statutory lien on the funds in any account where you have ownership interest regardless of the source, unless prohibited by law. The Credit Union may apply the funds in the account(s), without further notice, to pay off your indebtedness. If the Credit Union does not enforce the lien immediately, the Credit Union does not waive its right to enforce it at a later date. You also grant the Credit Union a consensual security interest in your account(s) and we may use the funds from your account(s) to pay any debt you owe the Credit Union now or in the future, unless prohibited by law. All account(s) cannot be assigned or transferred to a third party.

Checking Account And Overdraft Protection
 

Funds Availability Disclosure

This disclosure describes your ability to withdraw funds at PPL GOLD Credit Union. It only applies to the availability of funds in transaction accounts. The Credit Union reserves the right to delay the availability of funds deposited to accounts that are not transaction accounts for periods longer than those disclosed in this policy.

• We believe the check you deposit will not be paid.
• You deposit checks totaling more than $5,000 on any one day.
• You redeposit a check that has been returned unpaid.
• You have overdrawn your account repeatedly in the last (6) months.
• There is an emergency, such as failure of communications or other computer equipment.

We will notify you if we delay your ability to withdraw funds for any of the above reasons, and we will tell you when the funds will be available. They will be generally available no later than the seventh day after the day of your deposit. However, the first $100.00 of your deposit will be available on the first business day after the day of your deposit. For deposits with checks totaling more than $5,000, the first $100.00 of your deposit will be available on the first business day after the day of your deposit, the next $4,900.00 will be available on the second business day after the day of your deposit and the balance of your deposit will generally be available no later than the seventh day after the day of your deposit.

6. Special Rules For New Accounts: If you are a new member, the following special rules will apply during the first thirty (30) days your account is open:

Funds from electronic direct deposits, cash, wire transfers will be available on the same business day of your deposit. For funds from cashier’s, certified, teller’s, traveler, and federal, state, and local government checks, the first $100.00 of your deposit will be available on the first business day after the day of your deposit, the next $4,900.00 will be available on the second business day after the day of your deposit and the balance of your deposit will generally be available no later than the ninth day after the day of your deposit. The check must be payable to you. Funds from all other check deposits will be available on the ninth business day after the day of your deposit. However, the first $100.00 of your deposit will be available on the first business day after the day of your deposit.

7. Deposits At Nonproprietary ATMs: Not accepted.

8. Foreign Checks: Checks drawn on financial institutions located outside the U.S. (foreign checks) cannot be processed the same as checks drawn on U.S. financial institutions. Foreign checks are exempt from the policies outlined in this disclosure. Generally, the availability of funds for deposits of foreign checks will be delayed for the time it takes to collect the funds from the financial institutions upon which they are drawn.

Electronic Funds Transfer (EFT) Agreement 
And Disclosure Statement

• Cash withdrawals from your Savings/Checking Account up to $400 per day from your available balances from ATM or Point of Sale (POS) terminals.
• Purchases up to a maximum of $1,005 per day.
• Transferring funds between your accounts.
• Obtaining balance information from your account.
• Order goods and services by mail, telephone, or the Internet from merchants that accept VISA®.

6. Deposits. Deposits are not accepted at ATMs.

7. Member Liability. Contact us IMMEDIATELY if you believe your Card, account number, or PIN has been lost, stolen, acquired, or otherwise compromised. Calling (484) 223-4200 is the best way to minimize loss, or you can write us at the address shown on this brochure. If you contact us within (2) business days of a loss or the discovery of a loss, you cannot lose more than $50 if someone used your card and PIN without your permission. You could lose as much as $500 if you do not contact us and we could have prevented the loss had you contacted us. If your statement shows transfers that you did not make, or a loss that is not reported within 60 business days after the FIRST statement showing the discrepancy was mailed to you, you could lose all the money in your account (plus your maximum overdraft line of credit), if we can prove we could have prevented someone from withdrawing the funds. If a good reason, such as an extended hospital stay, kept you from contacting us, the notification periods may be extended.

8. Foreign Transactions. Purchases and cash withdrawals made in foreign countries and in foreign currencies will be debited from your account in U.S. dollars. VISA® will use its currency conversion procedure to determine the transaction amount in U.S. dollars, applying either a government-mandated rate or a wholesale rate determined by VISA® for the processing cycle period, plus one percentage point. The conversion rate on the processing date may differ from the rate on either the purchase date or posting date.

9. Right To Receive Documentation.

10. Business Days. Our business days are Monday through Friday excluding all Credit Union holidays. Our hours will be posted.

11. Credit Union Liability For Failure To Make Transfers. If we do not complete a transfer to or from your account on time or in the correct amount according to our Agreement with you, we may be liable for your losses or damages. However, we will not be liable for direct or consequential damages in the following events:

• If through no fault of ours, there is not enough money in your account to complete the transaction, if any funds in your account necessary to complete the transaction are held as uncollected funds or in accordance with our Funds Availability Policy, or if the transaction involves a loan request exceeding your credit limit.
• If the ATM where you are making the transfer does not have enough cash.
• If the ATM was not working properly and you knew about the problem when you started the transaction.
• If circumstances beyond our control (such as fire, flood, act of war or power failure) prevent the transaction.
• If the money in your account is subject to legal process or other claims.
• If funds in your account are pledged as collateral or frozen because of a delinquent loan.
• If the error was caused by a system of any participating ATM network.
• If the electronic transfer is not completed as a result of your willful or negligent use of your Card, access code, or any EFT facility for making such transfers.
• If the telephone or computer equipment you use to conduct audio response or electronic/PC transactions is not working properly and you know or should have known about the breakdown when you started the transaction.
• Any other exceptions as established by the Credit Union.

12. Stop Payment Rights. If you have arranged in advance to make regular electronic fund transfers out of your account for money you owe others, you may stop payment of preauthorized transfers from your account. You must notify us orally or in writing any time up to three (3) business days before the scheduled date of the transfer. We may require written confirmation of the stop payment order to be made within fourteen (14) days of any oral notification. If we do not receive the written confirmation, the oral stop payment order shall cease to be binding (14) days after it has been made.

13. Electronic Check Conversion/Returned Check Fees. If you pay for something with a check, you may authorize the check be converted to an electronic fund transfer. You may also authorize merchants to electronically debit your account for returned check fees.

You are considered to have authorized these electronic funds transfers after being told, orally or by a notice posted or presented to you, that the transfer may be processed electronically if you sign a written authorization.

14. Notices. All notices from us will be effective when we have mailed them or delivered them to your last known address in the Credit Union’s records.

Notices from you will be effective when received by the Credit Union at the address specified in this Agreement.

We reserve the right to change the terms and conditions of the service(s) offered. We will mail notice to you at least twenty-one (21) days before the effective date of the change. Use of this service is subject to existing regulations governing the Credit Union account and any future changes to those regulations.

15. Billing Errors And Electronic Funds Transfer Questions. In case of errors or questions about electronic funds transfers to your Share/Checking Account, telephone us at the following number or send us a written notice as soon as you can. We must hear from you no later than (60) days after we sent the FIRST statement where the problem appears. Telephone: (484) 223-4200 or write to PPL GOLD Credit Union, 4703 Hamilton Blvd., Allentown, PA 18103.

• Tell us your name and account number.
• Describe the transaction(s) you are unsure about and explain as clearly as you can why you believe there is an error or why you need more information.
• Tell us the dollar amount of the suspected error. If you tell us orally, we may require that you send us your complaint or question in writing within ten (10) business days. We will tell you the results of our investigation within ten (10) business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or question. If we decide to do this, we will credit your account within ten (10) business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not credit your account.
  
  If we decide after our investigation that an error did not occur, we will deliver or mail to you an explanation of our findings within three (3) business days after the conclusion of our investigation. If you request, we will provide you with copies of documents (to the extent possible without violating other members’ rights to privacy) relied upon to conclude that the error did not occur.

16. Termination Of EFT Services. You may terminate this Agreement or any EFT service under this Agreement at any time by notifying us in writing and stopping your use of your VISA® Check Card and any access code. You must return the Card(s) to the Credit Union. You also agree to notify any participating merchants that the authority to make bill payment transfers has been revoked.

We may also terminate this Agreement at any time by notifying you orally or in writing. If we terminate this Agreement, we may notify any participating merchants making preauthorized debits or credits to your account that this Agreement has been terminated and that we will not accept any further preauthorized transaction instructions. We may also program our computer not to accept your Card or access code for any EFT service. Whether you or the Credit Union terminates this Agreement, the termination shall not affect your obligations under this Agreement for any EFTs made prior to termination.

17. Governing Law. This Agreement is governed by the bylaws of the Credit Union, federal laws and regulations, the laws and regulations of the State of Pennsylvania and local clearinghouse rules, as amended from time to time. Any disputes regarding this Agreement shall be subject to the jurisdiction of the county court where the Credit Union is located.

18. Enforcement. In the event either party brings legal action to enforce the Agreement or collect any overdrawn funds on an account accessed under this Agreement, the prevailing party shall be entitled, subject to applicable law, to payment by the other party of its reasonable attorney fees and costs, including fees on any appeal, bankruptcy proceeding, and any post-judgment collection actions, if applicable. You agree that if there is a lawsuit, it may be filed and heard in the county and state in which the Credit Union is located, if allowed by applicable law.

19. Investigation Authorization. You agree to advise us of any changes in your financial condition, which may adversely affect your creditworthiness.

You authorize us to obtain information concerning your creditworthiness from consumer reporting agencies now and in connection with future updates, renewals, and additional credit extensions. At your request, we will tell you if such information has been obtained, or if we take adverse action on your account because of the information, we will provide you with the name and address of the reporting agency that made the report.

20. Change Of Name, Address, Employment. Within a reasonable time you agree to notify us of any change in your name, address or employment in writing to PPL GOLD Credit Union, 4703 Hamilton Blvd., Allentown, PA 18103.

Fee Schedule Checking Account Non-sufficient Funds (NSF) $25.00 Returned Check $15.00 Stop Payment Fee $10.00 Certified Check $2.00 Check Copy $2.00     Visa Check Card First 10 PIN* Based Transactions Per Month FREE Additional Transactions(Each) $.75 Signature* Based Transactions FREE Non-sufficient Funds(NSF) $25.00 Returned Item $15.00 Card Replacement $2.00 Express Card Delivery $25.00 PIN Confirmation Mailer $2.00     ACH Non-sufficient Funds $25.00 Returned Item $15.00 Stop Payment $10.00     Miscellaneous Statement Copy (each page) $1.00 Certified Teller Check $2.00 Return Check Fee $15.00 Teller Check Stop Payment $25.00 *If you key in your PIN, it is a PIN based transaction. If you select credit or sign a sales receipt only, it is a Signature based transaction. Foreign ATMs: If you use an ATM not operated by the Credit Union, you may be charged a fee by the ATM operator and by any national, regional or local network used in processing the transaction. The ATM surcharge will be debited from your account if you elect to complete the transaction. CU$ ATM Network: The Credit Union belongs to the CU$ ATM network in Pennsylvania. The network does not apply a surcharge to transactions at its ATM locations. Please visit our website, select the CU$ link to find a non-surcharge ATM location nearest you.