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Acclaim Newsletter -- Click Here
Overdraft Changes for Debit Card and ATM Usage Require your Attention
At Acclaim Federal Credit Union, we strive to provide our members with products and services that ensure your financial success. That’s why we want to inform you of an important upcoming change that could impact your checking account.
Beginning August 15, 2010, in accordance with federal regulations imposed on all financial institutions, Acclaim Federal Credit Union will no longer be allowed to consider authorizing and paying everyday or one-time debit card transactions (such as gas, grocery and other debit card purchases) and ATM withdrawals that overdraw your account – unless you have instructed us to do so. 1
What happens if you do not instruct Acclaim Federal Credit Union to continue to consider authorizing and paying everyday debit card transactions and ATM withdrawals that overdraw your account? Beginning August 15, 2010, any everyday debit card transaction or ATM withdrawal that would overdraw your account will be declined at merchant or ATM locations, and you will not be able to complete your debit card purchase or ATM withdrawal.
To learn more about Acclaim Federal Credit Union’s overdraft review process for everyday debit card transactions and ATM withdrawals that overdraw your account:
- Call 1-800-794-1001 and talk to one of our member service representatives
- Stop by our office located at 1823 Banking Street
- Click here to print out the required form to notify us of your decision
If you notify us any time prior to July 1, 2010, your decision will become effective that day.
Our goal is for you to minimize – and hopefully avoid - overdrafts and associated fees. Let us provide you details about other options that may be available to you to help avoid fees, including overdraft protection2 or savings account transfers.
1 Acclaim Federal Credit Union pays overdrafts at our discretion, and has the right to not pay any item. Acclaim Federal Credit Union
will pay these items based on your account history, spending patterns and other factors.
2 Subject to credit approval
Protect your identification! It's the fastest growing crime and the one consumers name as their number one concern when contacting the Federal Trade Commission. It's identity theft, and it happens when someone steals your personal information and uses it fraudulently. Here are some do's and don'ts to limit the chance it will happen to you:
- Safeguard your personal information. Keep it under lock and key. Dishonest roommates or even repair people have been known to steal identities.
- Never carry your Social Security number with you or give out any personal identification numbers (PINs) as they relate to ATM or Credit cards, etc.
- Never give out personal information unless you initiate the contact and have a trusted relationship with the company or organization. Even then, ask why the company needs that information.
- Don't throw away any financial or personal information without shredding or tearing it up. Always check your bills carefully and question any suspicious charge. Report lost or stolen checks or credit and debit cards immediately.
- Don't click on links in "URGENT" or "IMPORTANT" email messages asking for personal or account information. No legitimate organization will ever ask you to disclose this type of information in an e-mail message.
- Do check your credit report. You can get one free report from each credit reporting agency annually. To order, visit www.annualcreditreport.com, call 1-877-322-8228, or complete the Annual Credit Report Request form available at www.ftc.gov/credit and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.
- Don't forget to file a change of address notice with creditors, your credit union or any other financial institutions when you move.
- Your credit union will never contact you and ask for personal information that we have on file over the phone.
Act Like You Own The Place. You Do.