North East Welch Federal Credit Union

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Checking Accounts (Share Drafts)

FREE SHARE DRAFTS OVER 65

  1. A member in good standing, who has attained the age of 65 or older, will be supplied share drafts of our choice at no additional charge.

OVERDRAFT TRANSFER PROTECTION

  1. Overdraft Transfer Protection will be provided on all share draft accounts from share and/or club accounts.
  2. If a draft cannot be paid by a transfer from a share or club account, the draft will be returned NSF.

STATEMENTS

  1. Statements will be mailed each month. The statement is to be used by the member for reconcilement
  2. Paid share drafts will not be returned with the statements. A copy may be requested at any time.

PREAUTHORIZED EFT’S

  1. Direct Deposit - The credit union will accept direct deposits of
    1. Paychecks
    2. Federal recurring payments such as Social Security
    3. Other non-recurring deposits such as tax refunds
  2. Preauthorized Debits - Upon instruction, we will pay certain recurring transactions from the members share draft account.
  3. Our Routing Number 243383063

DEBIT CARDS

  1. Debit cards may be used as follows:
    1. Withdrawal of cash at an ATM
    2. Purchases at merchants that accept VISA
    3. Cash back when making a purchase

Limitations

  1. ATM daily withdrawal limit is $200
  2. POS (Point of Sale) daily limits are as follows:
    1. New share draft accounts - $500
    2. Existing share draft accounts (open for more than 6 months)
      1. $1500 - Good History (no returned NSF's in the previous 6 months)
      2. $1000 - Fair History (1-3 returned NSF's in the previous 6 months)
      3. $ 500 - Poor History (4-6 returned NSF’s in the previous 6 months)

LOST OR STOLEN CHECKS or DEBIT CARDS

  1. The credit union should be promptly notified in the event of loss, theft or unauthorized use of the account. It is the member’s responsibility to detect any unauthorized activity in their account and notify the credit union within 60 days after receipt of the statement.
  2. To stop payment on lost or stolen checks the member must sign a stop payment form. Only one stop payment fee is charged for a series of lost or stolen checks.
  3. To report a lost or stolen Debit Card during regular business hours, call the credit union office. After regular business hours:  If you have a Blue Debit Card call 1-800-528-2273 If you have a Westfield Area or New Green Chip Card call 1-800-543-5073.

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