Don’t forget to OPT-IN!

Don’t forget to OPT-IN in order to keep your everyday debit and ATM transactions the same as they are right now.  As of Sunday, August 15, 2010, Reg E begins.  If you choose not to OPT-IN and for some reason your account comes up short, your debit or ATM card will be declined.  Right now, if that were to happen, the debit or ATM transaction would be approved, saving you any potential embarrassment.  Don’t let this happen to you. 

You can OPT-IN online through our website at www.aacfcu.com by logging in to your internet account access and going to online forms, call in and speak to one of our representatives at 800-448-4096 or stop by one of our branches. We will be glad to answer any questions you have about this new federal regulation.

Did You OPT-IN Yet? Learn How It Can Help You

If you have been in our branches or to our website lately, you have probably heard us ask, “Did you OPT-IN yet?” We have put signs in our branches, banners on our website and even our employees are wearing OPT-IN buttons to help remind you about the importance of a new regulation. But if you are still wondering what all the fuss is about, here is a little information to clear things up.

Beginning August 15, 2010, a new federal regulation will be in place that will require you to OPT-IN to allow us to provide you with overdraft protection services for your ATM and debit card transactions. Overdraft protection services cover the amount of your transaction, even though you may not have enough money in your account. We will pay for your purchase or transaction and only charge you a $25 fee. If you do not OPT-IN to these services and need to use your debit or ATM card but do not have enough money in your account to cover the transaction, it will be declined.

How can OPTING-IN help you?

Say your child develops a fever during the night. He is also fending off a cold, so you need to go to the pharmacy to purchase some medicine until his doctor appointment. Funds in your checking account are a little less than usual due to some unexpected expenses. When you get to the pharmacy to purchase the medicine for your son, and you do not have enough money to cover the medicine, your debit card will be declined unless you OPT-IN.

Or, you might be traveling and have a flat tire. You need to use your debit card to pay for a new tire and to have someone replace it. Payday is tomorrow, but you do not have the funds to cover the repairs today. If you OPT-IN, we will pay for your repairs and only charge you the $25 fee. If not, you might be stuck on the side of the road looking for other options.

Let’s face it—sometimes things happen and your account runs short. At AACFCU, we encourage responsible management of your accounts, but in emergency situations you need options when dealing with your finances. If you never use your overdraft protection services, you will never be charged. It is simply there if you need it.

Still have questions? Call us or visit online and let us know how we can help!

July 2010 Commentator: Check out our latest newsletter!

Our latest Commentator has arrived! Be sure to take a look at the newsletter that arrives in your July statement or you can view it online here.

There is important information for our members concerning accounts and safety. You’ll also see our 2010 scholarship winners and other ways we’ve been able to support our communities.

Headlines and stories in July’s Commentator include:

• OPT-IN for Regulation E: How a new federal regulation might affect your debit and ATM card transactions
• Low Loan Rates from Our 2010 Car Sale Have Been Extended!
• Keeping Your Account Active: How to avoid dormant account fees
• Protecting Yourself from Identity Theft

Look for the Commentator in this month’s statements or view it online by clicking this link: AACFCU July 2010 Commentator.

Did You OPT-IN for Standard Overdraft Protection?

Due to a new federal Regulation E, you must OPT-IN or tell us you want to continue the standard overdraft protection we have always provided to you on debit and ATM card transactions. This only applies to the debit and ATM card transactions. August 15, 2010 is the day this regulation begins.

How does this effect you? If you do not OPT-IN and you are at Wal-Mart where you just happen to be a little short in your checking account, your transaction will be declined. We don’t want you to potentially be embarrassed by something like this. We know things happen – there is a mistake in your checking account or a deposit doesn’t make it in on time. We have covered life’s little unexpected events in the past but now we can’t unless you tell us to continue the standard overdraft protection.

Make sure you visit our website , call us at 800-448-4096 or stop by one of our locations for information on the OPT-IN program. You can OPT-IN online by accessing your Internet Account Access, log in to your AACFCU account, go to Online Forms, choose OPT-IN/OPT-OUT for Overdraft Services and fill out the online form. This takes just a few minutes and you will have a confirmation letter mailed to your home.

You can get more information on this regulation by viewing this document.