Important Information About Procedures for Opening a New Account

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

Indicated below are types of Electronic Fund Transfers we are capable of handling, some of which may not apply to your account. Please read this disclosure carefully because it tells you your rights and obligations for the transactions listed. You should keep this notice for future reference.

Your option to limit cash withdrawals-In addition to the dollar amount limitations for withdrawals using your VISA card and/or code that we may establish, you have the option to limit the amount of cash that can be withdrawn by your VISA card and/or code to $50.00 per day or some other amount acceptable to us.

ATM Transfers-types of transfers and dollar limitations. You may access your account(s) by using your ATM or VISA check card and PIN to:

  • Make deposits to checking account(s)
  • Make deposits to a savings account(s)
  • Get cash withdrawals from checking or savings account(s)- limit $500.00 a day
  • Transfer funds from savings to checking account(s)
  • Transfer funds from checking to savings account(s)

Some of these services may not be available at all terminals. Please also see Limitations on frequency of transfers section regarding limitations that apply to ATM transfers.

Types of Visa Check Card Transactions-You may access your checking account(s) to purchase goods (in person, online, or by phone), get cash from a merchant, if the merchant permits, or from a participating financial institution, and do anything that a participating merchant will accept.

Point-of-Sale Transactions– dollar limitations-Using your card you may not exceed $2500.00 in transactions per day, $500.00 per day (Cash Withdrawals).

Please also see Limitations on frequency of transfers section regarding limitations that apply to debit card transactions.

Currency Conversion and International Transactions– When you use your Visa Check Card at a merchant that settles in currency other than US dollars, the charge will be converted into the US dollar amount. The currency conversion rate used to determine the transaction amount in US dollars is either a rate selected by Visa from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate Visa itself receives, or the government-mandated rate in effect for the applicable central processing date. The conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or posting date.

Visa USA charges us a .8% International Service Assessment on all international transactions, regardless of whether there is currency conversion. If there is a currency conversion, the International Service Assessment is 1% of the transaction. In either case, we pass this international transaction fee on to you. An international transaction is a transaction where the country of the merchant is outside the USA.

Non-Visa Debit Transaction Processing-We have enabled non-Visa debit transaction processing. This means you may use your Visa-branded debit card on a PIN– Debit Network* (a non-Visa network) without using a PIN. The non-Visa debit network for which such transactions are enabled are: NYCE network.

Examples of the types of actions that you may be required to make to initiate a Visa transaction on your Visa branded debit card include signing a receipt, providing a card number over the phone or the internet, or swiping the card through a point-of-sale terminal.

Examples of the types of actions you may be required to make to initiate a transaction on a PIN-Debit Network including initiating a payment directly with the biller (possibly via telephone, Internet, or kiosk locations), responding to a logo displayed at a payment site and choosing to direct pay through that network, and having your identity verified using known information derived from existing relationship with you instead of through use of a PIN.

The provisions of your agreement with us relating only to Visa transactions are not applicable to non-Visa transactions. For example, the additional limits on liability (sometimes referred to as Visa’s zero-liability program) and the streamlined error resolution procedures offered on Visa debit card transactions are not applicable to transactions processed on a PIN-Debit Network.

*Visa Rules generally define PIN-Debit Network as a non-Visa debit network that typically authenticates transactions by use of a personal identification number (PIN) that is not generally known for having a card program.

Minimum account balance - You must maintain a minimum account balance of $500.00 in your checking account as a condition of using an access device ( card and/or identification code) to accomplish a transfer.


  • We will charge you $5.00 to replace a lost or stolen card (first replacement card will be no charge).
  • ATM Operator / Network fees- When you use an ATM not owned by us, 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 don’t complete the transaction).


Restricted transactions as defined in Federal Reserve Regulation GG are prohibited from being processed through this account or relationship. Restricted transaction generally include, but are not limited to, those in which credit, electronic fund transfers, checks, or drafts are knowingly accepted by gambling businesses in connection with the participation by others in unlawful internet gambling.


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 your losses or damages. However, there are some exceptions. We will not be liable, for instance:

(1) If, through no fault of ours, there is not enough money in your account to make the transfer.

(2) You have an overdraft line and the transfer would go over the credit limit.

(3) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions we have taken.

(4) There may be other exceptions stated in our agreement with you.

(5) If the ATM machine where you are making the transfer does not have enough cash.

(6) If the terminal or system was not working properly and you knew about the breakdown when you started the transaction.


Periodic statements- You will get a monthly account statement from us for your checking statement savings accounts.

Terminal transfers- You can get a receipt at the time you make any transfer to or from your account using one of our ATM’s.

Pre-authorized credits- If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call us at 248-628-2533 to find out whether or not the deposit has been made.


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

(1) where it is necessary for completing transfer; or

(2) in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or

(3) in order to comply with government agency or court orders; or

(4) as explained in the separate Privacy Disclosure.


If you believe that any provision of the Michigan Electronic Funds Transfer Act has been violated you should notify:

Department of Insurance and Financial Services
Post Office Box 30220
Lansing, Michigan 48909-7720


F.D.I.C. Division of Supervision
300 South Riverside Plaza, Suite 1700
Chicago, IL 60606


(a) Consumer liability. Tell us AT ONCE if you believe your card and/or code has been lost or stolen. Telephoning is the best way of keeping your possible losses down. You could lose all of the money in your account (plus your maximum overdraft line of credit). (If you believe your card and/or code has been lost or stolen, and you tell us within 2 business days after you learn of the loss or theft, you can lose no more than $50 if someone used your card and/or code without your permission.)

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

Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can provide proof that we could have stopped someone from taking the money if you had told us in time.

If a good reason (such as a long trip or a hospital stay) kept you from notifying us, we will extend the time periods.

Additional limit on Liability for Visa Check Card. Unless you have been grossly negligent or have engaged in fraud, you will not be liable for any unauthorized transactions using your lost or stolen Visa Check card. This additional limit on liability does not apply to ATM transactions or to transactions using your PIN number which are not processed by Visa.

(b) Contact in event of unauthorized transfer. If you believe your card and/or code has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call or write us at the telephone number or address listed in this brochure.


In case of errors or questions about your electronic transfers, call or write us at the telephone number or address listed in this brochure, as soon as you can. If you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt, we must be notified no later than 60 days after we sent the FIRST statement on which the problem or error appeared.

(1) Provide your name and account number (if any)

(2) Describe the error or the 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.

(3) Provide the amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.

Non-consumer transactions (business, commercial or corporate ACH entries) must be disputed within 2 business days of the transaction date.

We will determine whether an error occurred within 10 business days (20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a new account, a point of-ale transaction , or a foreign initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (20 business days if the transfer involved a new account) for the amount you think is in error, so that you will have the use of your money during the time it takes us to complete our investigation. 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 credit your account. Your account is considered a new account for the first 30 days after the first deposit is made, unless all signers already have an established account with us before this account is opened.

We will tell you the results within 3 business days after completing our investigation. If we decide that there was no error, we will send you a written explanation.

You may ask for copies of the documents that we used in our investigation.

OXFORD, MI 48371
Business Days: Monday through Saturday
Phone: 248-628-2533


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