FUNDS AVAILABILITY WITH CASH APPS AND ATM DEPOSITS

Cash apps have become a popular way to move money from one account to another.  But just like any other online financial transaction, there are scammers and fraudsters working to take your money.  In order to protect our members and the Credit Union from fraudulent activity, when using a cash app, the funds may not be immediately available to you.  The day of the deposit, $200 will be made available to you, however, the remaining funds may not be available for 1-3 business days.  This availability is the same for ATM deposits.

GOT DEBIT CARD?

In August, the Credit Union issued new debit cards to replace existing cards.  There are a few differences with the new cards.  Daily limits are $500 for cash withdrawals and $1500 for Point of Sale transactions.  There is also a limit of 10 transactions per day with your card.  We put these limits in place to protect our members and the credit union against fraud.

If you need to change your pin #, please call 1-866-985-2273 from the primary phone # listed on your account.  If you suspect fraud activity,  please call 1-888-918-7313.  If PSCU fraud dept. suspects fraud activity on your card, they may put a temporary block on the card until they can verify transactions with you.

As always, please keep your account updated with your current address and phone # so that we can contact you if need be and any card reissues will go to your correct address.

Remember to contact us if you will be traveling or spending out of your normal spending habits so we can put a memo on the account to avoid declines.

Notice of Change of Terms to our Funds Availability Policy

Effective July 1st, 2020, the credit union is required to provide the following:

  1. $225 for next day availability for all instances where it was previously required to provide a minimum of $200.
  2. In addition, the $5,000 availability requirements for holds on new accounts, large deposits, and repeat overdrafts will increase to $5,525.
  3. The $400 Rule has been increased to $450.  On the day that funds become available for withdrawal, we may limit to $450 the amount of cash that the member may withdraw.                                                                                                                                    This change was due to statutory inflationary requirements.

How does Reg D affect me?

Regulation D will restrict you to six transactions from your savings account per calendar month based upon the type of transaction requested and method used to request them.  Here is a list of the different types of transactions that are affected by Reg D.

Transactions limited to a total of 6 withdrawals or transfers per month:

  • Online banking and mobile banking transfers between your accounts,
  • Automatic transfers, including those for overdraft protection,
  • Transfer made over the phone,
  • Any pre-authorized automatic withdrawal,
  • Any checks to a third party from your savings

What happens if I exceed my limit of 6 transactions for the month?  We may reject your transaction and be forced to close your account.

How can I stay within my limit?  If you need to perform more than 6 withdrawals or transfer, consider opening a free Share Draft account.  Upon approval, your first 50 checks are free.  The are no monthly maintenance fees and you can also apply for our NO SURCHARGE ATM/DEBIT card.  Please contact us if you have any questions or concerns on Reg D.

 

What is Regulation D?

When it comes to transactions, all accounts are not created equal.  There are “transaction accounts” like share draft accounts (known as checking accounts) which offer unlimited transactions of any type or form.  Then there are “non-transaction accounts” like share accounts (known as a savings account).  Regulation D (Reg D) of the Federal Reserve Bank limits the number of certain types of withdrawals and transfers which can be made on share accounts to a total of no more than six each month.  This monthly limit is based on when the transactions are posted to your shares not when you authorized the ACH transaction.

Will your vehicle get you where you’re going?

Worried about traveling  in your current vehicle? Unsure if you can safely get to and from work without a breakdown?  Then consider financing a new or used vehicle at the Credit Union!  New auto loan rates start as low as 2.99% depending on your credit score.  Our used auto rate starts at 3.99% depending on your credit score.  Any used vehicle must be 7 years or newer and we lend according to the NADA loan value.  Call with any questions you have or come in to apply today!

We also work with Enterprise Car Sales to help  find the perfect vehicle for you!  If you’re looking for a quality used vehicle, they are the place to go! We will finance, if approved, 100% of their selling price!   Check out the cars available on the website www.enterprisecarsales .com or call 1-800-227-7253.

 

 

 

 

Are you traveling in the near future?

If you have a vacation planned or a quick weekend getaway and plan to use your debit or credit card, give our office a call before you go.  We will put a travel notification on your account to avoid  declines while you are away.  Otherwise,our fraud department may put a temporary block on the card until they can verify transactions with you.  This would also apply if you will be spending out of your normal spending habits.

VISA Payments can now be made at office!

We now have another way to may paying your VISA more convenient!  We are now able to take your VISA payment in our office.   Members can bring it in, mail it  to our office with payment stub or call us to transfer the funds from your account.  You can still access the PCUA payment site thru our website, mail in to the payment center or set up a bill pay.

Is your account active?

Do you know when the last transaction was done on your account?  In order for your account to remain in an active status, we ask that you perform a transaction once a year.  You can  either withdraw funds or make a deposit.  Any amount, large or small, is acceptable.  If you are not sure if you need to do something, please give us a call or stop in.

Update your account!

Have you moved recently or has your contact information changed?  Please let us know when any of your information changes so we can reach you. We may need to contact you about your account.