IMPORTANT UPDATE

New information regarding ABA/Routing Number Switch.

Montrose ATM
NOW AVAILABLE

BCT Members - No Fee
Non-Members - $1.75

Consolidation
Loan Specials:

$30,000
4 Years - 6%
8 years - 7%
10 years - 9%

Consolidate all your unwanted debt and start saving today!

Disclosures

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This page contains the Electronic Fund Disclosure Statement and the TERM SHARE CERTIFICATE ACCOUNT Truth-in-Savings Disclosures.

An electronic fund transfer occurs when you or someone else uses electronic means to make deposits (credits) to or withdrawals (debits) from your Share or Share Draft/Checking account.

An electronic fund transfer may be made by audio response telephone service, computer tape or automated clearing (ACH), electronic check conversion and generally takes place at merchant locations.

The information set forth in this portion of the disclosure statement applies to all electronic fund transfers, including ATM machines, Visa/MasterCard, Phone Teller, electronic check conversions and pre-authorized transfers. Additional information is set forth in later portions to apply to specific types of transactions.

Account Information Disclosure: We will disclose information to third parties about your account or the transfers you make:

when it is necessary for completing transfers;
in order to verify the existence and condition of your account for a third party (such as a credit union or merchant);
in order to comply with a government agency or court order; or
if you give us your permission.

Liability for Failure to Make Transfers: If we do not complete a transfer to or from your account on time or in the correct amount, according to our agreement with you, we will be liable for losses or damages. However, there are some exceptions. We will not be liable, for instance:

if, through no fault of ours, you do not have enough money in your account to make the transfer.
if the terminal or system is not working properly and you know about the breakdown when you start your transfer.
if the automated teller machine where you are making the transfer does not have enough cash.
if circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have undertaken.
if you exceed a combined total of six telephone-initiated transfers and automated overdraft transfers from any account in the same month.
if there are other exceptions stated in our agreement with you.

Statement and Reporting Disclosures

Share Draft Accounts will receive monthly statements when there are transfers or transactions within any given month. All other accounts, with transfers or transactions within any given quarter, will receive the statement at least quarterly.

Error Resolution Notice: In case of errors or questions about your electronic transfers, telephone or write us as soon as possible. Notify us if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. You must report the error no later then 60 days after the FIRST statement, on which the problem or error appeared, was sent to you.

The process for reporting an error is as follows:

Tell us your name and account number (if any).
Describe the error or transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.
Tell us the dollar amount of the suspected error.
If you tell us verbally, we may require that you send us your complaint or question in writing within 10 business days. We will tell you the results of our investigation within 10 business days* and will correct an error promptly. If we need more time however, we may take up to 45 days** to investigate your complaint or question. If we decide to do this, we will re-credit your account within 10* business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. When the error you assert is an unauthorized Visa/MasterCard transaction, other than a cash disbursement at an ATM, we will credit your account within 5 business days, unless we determine that the circumstances or your account history warrant a delay, in which case you will receive credit within 10 business days. If we ask you to put your complaint or question in writing, and we do not receive it within 10 business days, we may not re-credit your account.
If we decide that there was no error, we will send you a written explanation within 3 business days, after we finish our investigation. You may ask for copies of the documents that we used in our investigation.

*If you give notice of an error within 30 days of making the first deposit to your account, we will have 20 instead of 10 business days.

**If you give notice of an error within 30 days of making the first deposit to your account involving a POS transaction or notice of error involving a transaction initiated outside the U.S., its possessions and territories, we will have 90 days instead of 45 days to investigate.

Business Day Disclosure:

Our business days are Monday through Friday, except for Legal Holidays.

The information set forth in this portion of the disclosure statement applies specifically to electronic fund transfers made through the Credit Union and other ATM/POS systems that are made available.

Liability Disclosure

Tell us AT ONCE if you believe your card or Personal Identification Number (PIN) has been lost or stolen. The best way to keep your losses to a minimum is to telephone us immediately when you make the discovery. If you believe your card and PIN have been lost or stolen, and you tell us within (2) business days of the discovery, your accounts will be protected, and you will not lose money if someone used your card and PIN without your permission. Failure to report a lost or stolen card or PIN could result in the loss of all the money in your account.

If you do NOT tell us within 2 business days after you learn of the loss or theft of your card and PIN, and we prove that we could have stopped someone from using your card and PIN without permission, if you had told us, you could lose as much as $500.

If your statement shows transfers that you did not make, tell us at once. If you do not inform us within 60 days of the statements being mailed to you, you may not get back any money you lost after the 60 days. This would be the case, provided we can prove that we could have stopped someone from using the money, if you had told us within that time frame.

If a good reason (such a long trip or a hospital stay) kept you from telling us, we may extend the time period. However, every attempt should be made to contact us in the event of a lost or stolen card or PIM number.

Emergency Contact Information: If you believe your card and PIN have been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call or write us immediately. To block your BCT Debit Card or your BCT Visa Debit Card from use during non-business hours, use transaction code #68 on Phone Teller (607-724-3380). To write to the credit Union for any reason, the address is PO Box 100 ESS, Binghamton, NY 13904-0100. During regular business hours, you may contact us at 607-724-3247.

Account Access

You may use your BCT Debit Card, Visa Debit Card and PIN for the following ATM transactions on your Share Draft/Checking account:

Withdraw cash from your Share Draft/Checking Account.
Make deposits to your Share Draft/Checking Account.

Some of these services may not be available at all ATMs or terminals or during non-business hours.

Limitations on Frequency of Transactions: You may make an unlimited number of cash withdrawals, deposits and transfers from our ATM machines, subject to amount limitations.

Limitation of Dollar Amounts: There is a maximum withdrawal limit, for PIN-based transactions, of $500 per card per day, subject to balance verification (BCT Debit Card, Visa Debit Card).

The following transactions count toward the $500 limit:

ATM cash withdrawals from Share Draft/Checking Account
POS transactions (Purchases) made using your PIN number

Charges for Transactions:

When you use an ATM owned by BCT Federal Credit Union, you will not be charged a fee.
When you use an ATM not owned by BCT Federal Credit Union, you may be charged a fee by the ATM operator (or any network used), and you may be charged a fee for a balance inquiry, even if you do not complete a fund transfer.
When you use an ATM not owned by BCT Federal Credit Union, you will be charged a fee of $1.00 per completed fund transfer and/or cash withdrawal.
When you make a POS (purchase) transaction and use your PIN number, you will be charged a fee of $1.00 per completed fund transfer.

No charges are imposed when members use our Automated Teller/Phone Teller service and or Internet Branch service for inquiries, fund transfers and loan payment transfers.

The information set forth in this part of the disclosure statement specifically applies to pre-authorized transfers.

Pre-Authorized Credits: If you have arranged to have direct deposits made to your account at least every 60 days from the same person or company, you can call us during normal business hours to find out whether or not the deposit has been made.

Right to Stop Payment and Procedures: If you directed us in advance to make regular payments out of your account, you can stop any of the payments by calling or writing us to make other arrangements. We must receive your request 3 or more business days before the payment is scheduled to be made. If you call, we may also require that you put your request in writing and get it to us within 5 days of your call.

Notice of Varying Amounts: If these regular payments may vary in amount, the person you are going to pay will tell you 10 days prior to each payment when it will be made and how much it will be. You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment or when the amount would fall outside certain limitations that you set.

Liability for Failure to Stop Payment of Pre-Authorized Transfers: If you order us to stop one of these payments 3 business days or more before the transfer is scheduled and we do not do so, we will be liable for your losses or damages.

TERM SHARE CERTIFICATE ACCOUNT

Truth-in-Savings Disclosures

Rate information: The dividend rate of term share certificate accounts is stated on all certificates, along with the annual percentage yield (APY) of the certificate. The APY and dividend rate assume that the dividends are to be added to the principal.

Compounding and crediting: Dividends will be compounded daily and will be credited monthly. If you close your term share certificate account before dividends are credited, you will not receive accrued dividends.

Minimum balance requirements: The minimum balance required to open term share certificates varies depending on things such as term of certificate. The minimum balance will be stated on each individual certificate.

Balance computation method: Dividends are calculated by the daily balance method which applies a daily periodic rate to the principal in your account each day.

Transaction limitations: After the account is opened, you may not make deposits into the account until the maturity date stated on the certificate.

Early withdrawal penalties: If term share certificate funds other than dividends are withdrawn prior to maturity, A SUBSTANTIAL PENALTY IS IMPOSED as follows: the penalty is the forfeiture of dividends since the date of issuance or renewal, but in no case less than 90 days dividends. The penalty does not apply to any of the following early withdrawals:

withdrawal subsequent to the death of any owner;
withdrawal after the close of the dividend period in which the owner's credit union membership was terminated under Article II, section 5 of the bylaws;
withdrawal when the account is part of a qualified individual retirement or Keogh plan, to effect distribution of funds upon the participant's disability or attainment of not less than 59 1/2 years of age; and
withdrawal as a result of liquidation of the credit union.

Renewal policies: Your term share certificate account will automatically renew at maturity. The credit union will mail the owner at least 30 days' notice prior to maturity. The notice will inform the owner of the terms under which the credit union proposes to renew the term share certificate or otherwise make the funds available to the owner. Term share certificate funds will be handled by the credit union in the manner set out in the notice unless the owner notifies the credit union to the contrary on or before the maturity date.

Nature of dividends: Dividends are paid from current income and available earnings, after required transfers to reserves, at the end of a dividend period.

Par value of shares/Dividend period: The par value of a regular share in this Credit Union is $25. The dividend period of the Credit Union on this type of account is annual, beginning on the date the account is opened, and ending on the stated maturity date, unless renewed.

National Credit Union Share Insurance Fund:

Member accounts in this Credit Union are federally insured by the National Credit Union Share Insurance Fund.

BCT Funds Availability Policies

A 3 day business hold applies to all checks over $5,000.00 except for the following: major employer payroll checks, government checks, money orders and certified checks.

A 7-day business hold applies to all checks used to open a new account, except for the following: major employer payroll checks, government checks, money orders and certified checks.