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Business Disclosures

  • Business Account Error Resolution

    In accordance with ACH Rules corporate credit or debit irregularities/discrepancies must be reported within 24 hours of posting to your account in order to reinitiate the entry into the ACH Network.

    1.  Account Statements and Notices. All transfers subject to this Agreement will be reflected on your periodic account statement(s). Notification of receipt of all such transfers will be provided by including such item in the periodic account statement(s) we provide to you. You may inquire whether a specific transfer has been received at any time during our normal business hours. You agree to review each statement or other notice for any discrepancies in connection with transfers. It is important to note, though, that having a business account relationship with us requires more diligent monitoring of your account than only relying upon periodic statements and notices, particularly as relates to UCC Article 4A. We strongly recommend you monitor your account more than once a day and use our online access service or audio response to do so. If you think a transfer is not authorized, wrong, or if you need more information about a transfer, you must provide written notice to us upon discovery of the error and within 24 hours of the transaction occurring. Failure to do so will relieve us of any obligation to reverse the transaction, pay interest or otherwise compensate you for the amount of any unauthorized or erroneous transfer.

  • Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006

    The UIGEA, signed into law in 2006, prohibits any person engaged in the business of betting or wagering (as defined in the Act) from knowingly accepting payments in connection with the participation of another person in unlawful internet gambling. The Dept of Treasury and the Federal Reserve Board have issued a joint final rule, Regulation GG, to implement this Act.

    As defined in Regulation GG, 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".

    As a business member of Allegacy Federal Credit Union, these restricted transactions are prohibited from being processed through your account with us. If you do engage in an Internet gambling business and open a new account with us, we will ask that you provide evidence of your legal capacity to do so.

Allegacy Investment Group Disclosure

Non-deposit investment products and services are offered through CUSO Financial Services, L.P. ("CFS"), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. Allegacy Federal Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.

© 2014 Allegacy Federal Credit Union
Allegacy is federally insured by the NCUA
Equal Housing Lender NCUA
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