Document Selection Guide for Consumer Deposit - CUNA Mutual ...

Consumer Deposit Disclosures
All LOANLINER Deposit account disclosures are carefully researched and fully compliant with all federal
and state regulations. Disclosures are created specific to each credit union to match their procedures and
operations, and are also personalized with your credit union name, logo, address, and telephone number
on the front. Choose from four 4-color graphic covers, coordinated with other LOANLINER Deposit account
products, to create a modular documents package. Or, customize the front cover to include your credit union’s
color or corporate image.
Membership and Account Agreement (MAA)
The MAA defines both the member’s and your credit union’s rights, responsibilities, and account-ownership
issues. It solidifies a comprehensive contract that protects your credit union against problems associated with
offering share and share draft accounts and other credit union services.
• Covers essential terms and conditions governing deposit account transactions.
• Incorporates your state’s Uniform Commercial Code and contract law.
• Explains member access; account statement and notice responsibilities; share draft issues, such as
endorsements, stop-payment, post-dated checks, and overdrafts; credit union liability, liens, and security
interests; and account and/or member terminations, plus special account instructions, account inactivity,
and death of the owner.
The standard MAA is a multi-state document; however state-specific document versions, which include state
regulatory language, are available to credit unions with locations in the following states: AL, FL, HI, LA, MA,
MD, MI, MN, MO, MT, NC, NJ, NY, OK, TX, VA, VT, WA, WI.
Truth-in-Savings Disclosures (TIS)
The Truth-in-Savings Act and the NCUA’s implementing regulation, Part 707, establish standards by which
members can make meaningful comparisons between accounts offered by different financial institutions. The
Truth-in-Savings Disclosure sets out required information regarding rates, fees and other account terms to
assist members in choosing a share/savings, share draft checking and/or share certificate account that is right
for them.
Two versions of the Truth-in-Savings Disclosure are available – one for share/savings and transaction (share
draft/checking) accounts and another for term share/certificate accounts. Both versions of the Truth-in-Savings
Disclosure are available in the following media formats:
Paper brochure – The number of accounts your credit union offers will determine the size of your disclosure
brochure. (1 - 5 accounts generally fits on 8½” x 11” paper shell; 6 - 9 accounts generally fits on 8½” x 14”
paper shell)
Electronic file – Electronic format (Fillable PDF is standard format).
Your credit union may include a Fee Schedule in the Truth-in-Savings Disclosure regardless of the media
format selected. In lieu of including fees in the disclosure, your credit union may otherwise choose to maintain
an internally-generated Fee Schedule.
To view document samples, go to www.loanliner.com
and click on LOANLINER Document Solutions.
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Contact LOANLINER Customer Service
at 800.356.5012.