Agreements & Disclosures

Membership Agreement & Disclosure

Our Membership Agreement contains information you need to know about the policies and guidelines which govern your Palmetto Health Credit Union account(s) and account services. To view our Membership Agreement please click on the link below. Please review this Agreement carefully. If you have any questions please feel free to contact us at 888-978-2101.

Online Banking Disclosure and Consent

To view our Online Banking Disclosure and Consent agreement please click on the link below.

Online Banking Disclosure and Consent

Mobile Banking & Remote Deposit Agreement

To view our Mobile Banking & Remote Deposit Agreement please click on the link below.

Reg CC Disclosure

The July 1, 2020 compliance date will approach quickly, so now is the time for credit unions to begin reviewing funds availability policies and item processing systems to ensure that any necessary changes are fully implemented by the deadline. Credit unions should also review all applicable disclosures and notices/posters and update them as needed to accurately reflect any policy changes, and ensure that any applicable change in terms notices are sent out in a timely manner.

Below is a list of the areas that will require adjustments:

· The $200 Rule [§229.10(c)(1)(vii)] – The minimum amount of deposited funds that credit unions must make available for withdrawal by opening of business on the next day for certain check deposits is increased from $200 to $225

· The $400 Rule [§229.12(d)] – The amount a credit union must make available when using the EFA Act’s permissive adjustment to the funds-availability rules for withdrawals by cash or other means is increased from $400 to $450

· New Account Exception [§229.13(a)] – The amount of funds deposited by certain checks in a new account that are subject to next-day availability is increased from $5,000 to $5,525

· Large Deposit Exception [§229.13(b)] – The threshold for using an exception to the funds-availability schedules if the aggregate amount of checks on any one banking day exceeds the threshold amount is increased from $5,000 to $5,525

· Repeat Overdraft Exception [§229.13(d)(2)] – The threshold for determining whether an account has been repeatedly overdrawn is increased from $5,000 to $5,525

Regulation CC requires at least 30 days advance written notice of any changes to the credit unions funds availability policy; however, a change that expedites the availability of funds may be disclosed not later than 30 days after implementation. [See §229.18 (e)] Because these changes make more funds available to a consumer sooner, the change in terms notices would generally need to be provided no less than 30 days after the effective date of the change.