Disclosures


Member Identification Program
Section 326 of the USA Patriot Act requires CPFCU to establish a Member Identification Program including procedures to:
• Verify the identity of any person seeking to open an account to the extent reasonable and practicable;
• Maintain records of the information used to verify a person's identity; and
• Consult lists provided to CPFCU by any government agency to determine whether a person seeking to open an account appears on any such list.

For each person who opens a new account or anyone added as a signatory to an account with CPFCU, all the following identifying information will be asked for and must be provided prior to opening the account:
• Name
• Residence Address and Mailing Address
• Date of Birth
• Social Security Number / U.S. Taxpayer Identification Number

CPFCU will request as many identifying documents as needed to form a reasonable belief that we know the identity of the individual.

CPFCU will require acceptable identifying documents for any new member and for non-members who become co-signers, co-applicants, joint applicants, and guarantors on loans, if the identity is not already known by CPFCU and if identifying documents are not already on file.

For members who want to open accounts for their minor children, the parent or guardian's identity must be verified, if not already on file, and a social security number for the minor must be provided at the time of opening or within 90 days of opening the account. If the social security number is not provided within 90 days then the account will be closed and the money returned to the guardian.

The opening of a new account may be subject to handling on a case by case basis.

After identifying information is collected the credit union will request one of the following to verify the information:
• Unexpired photo ID card acceptable to the credit union (drivers license, passport, unexpired government issued photo ID, employer or school issued photo ID card)
• An acceptable document with the person's current mailing address may be requested if the address is different than the address shown on the photo ID.

The burden of proof to provide sufficient identifying document(s) will rest with the person who desires to open or to be added to an account. An account will not be opened if identification cannot be verified to an extent whereby the credit union has a reasonable belief that the identity of the person is verified.

What You Need To Know About Overdrafts and Overdraft Fees
An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two ways:
1. We have standard overdraft practices that come with your account.
2. We offer overdraft protection plans, such as a link to a saving account or overdraft line of credit, which may be less expensive than our standard overdraft practices. Contact us to learn more about our overdraft plans.

What are the standard overdraft practices that come with my account?
We do authorize and pay overdrafts for the following transactions:
• Checks and other transactions made using your checking account number
We do not authorize and pay overdrafts for the following types of transactions:
• ATM transactions
• Everyday debit card transactions
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be decline.

What fees will be charged if Charlottesville Postal FCU pays my overdraft?
Under our standard practices:
• We will charge a fee of up to $35.00 each time we pay an overdraft.
• There is no limit on the total fees we can charge you for overdrawing your account.
What if I want Charlottesville Postal FCU to authorize and pay overdrafts on my ATM and everyday debit card transactions?
If you want us to authorize and pay overdrafts on your ATM and everyday debit card transactions, call 434.973.4280.

Internet Gambling Notification
Pursuant to the unlawful Internet Gambling Enforcement Act of 2006 and Regulation GG, "restricted transactions," such as those in which a person accepts credit, funds, instruments, or other proceeds from another person in connection with unlawful Internet gambling are prohibited from being processed through your account or relationship with Charlottesville Postal Federal Credit union.

Attention Debit Card Users: New Regulation Requires Action By You
A new regulation by the Federal Reserve requires that all consumers "Opt In" to receiving Overdraft Privilege service for transactions completed using a Debit Card. You now must sign up for it. With the new regulation, the transaction will simply be declined as opposed to being approved and a $25 fee charged for this service. This is an optional service for qualified members and you are not required to have it. To "Opt In" for this service you can simply e-mail us at cpfcu@embarqmail.com or through a secure message in Home Banking. The new regulation does not change any Overdraft Protection options you may have on your account such as a line of credit or automatic transfers set up from another account.
* Charlottesville Postal Federal Credit Union still has the right to decline transactions for any reason to safeguard the members and asset of this credit union.