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IMPORTANT INFORMATION REGARDING YOUR ACCOUNTS

SRP Federal Credit Union has recently made updates to your Membership Agreement, Fee Schedule, and important Overdraft-related account disclosures.  A summary of these changes is provided below.  Please review these changes carefully.  These updated terms will become effective November 1, 2022.

 

OVERVIEW OF CHANGES TO THE MEMBERSHIP AGREEMENT:

 

CIT - 2022_11 | Membership Agreement

OVERVIEW OF CHANGES TO THE FEE SCHEDULE:

  • Added a footnote to clarify circumstances of multiple presentments and to which fees this may apply.
  • Clarified the assessment of an NSF Fee from per occurrence to per presentment.

OVERVIEW OF CHANGES TO THE OVERDRAFT PRIVILEGE DISCLOSURE

  • Added important information about when fees may be assessed to include information pertaining to multiple presentments.
  • Clarified that share accounts and business accounts are not eligible for Overdraft Privilege.
  • Added important information regarding multiple presentments of an item or transaction to further clarify you may be charged multiple NSF fees in connection with a single debit that has been returned for insufficient funds multiple times.

OVERVIEW OF CHANGES TO THE OVERDRAFT FORM:

  • Clarified the first section to further explain when overdrafts occur and that you should review the Membership Agreement regarding our overdraft services.

 

Membership Agreement

Membership Agreement