Online Banking Terms and Conditions

Online Banking Disclosures

This document contains Coastal FCU's EFT Disclosures required under Federal Regulation E. Please read it in its entirety and then click on the "I Acknowledge" button at the bottom of the screen to continue to the Coastal On-Line Transaction Service System. If you do not wish to Acknowledge reading Regulation E, use "Return to Home Page" to return to the Coastal Federal Credit Union Home page.


A. Member Liability

The security of your access code and password depends largely upon degree of care and vigilance that you exercise. The Credit Union has employed recognized security standards to avoid compromising the security of access codes, passwords, and confidential data at the host level in our offices. If you, the member, disclose your access code and password to any other person and/or permit another person to use your access code and password you will be liable for ALL such unauthorized transactions made possible by your disclosure to the extent described below.

Tell us AT ONCE if you believe your access code and/or password have been lost, stolen, or compromised. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account, plus your maximum line of credit. If you tell us within two business days, you can lose no more than $50.00 if someone used your access code and/or password without your permission. Take no chances. Notify the Credit Union even if you only suspect that your access code and/or password have been lost, stolen, or compromised.

If you do not tell us within two business days after you learn of the loss, theft or compromise of your access code and/or password, and we can prove we could have stopped someone from using your access code and/or password without your permission if you had told us, you could lose as much as $500.00.

Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within sixty (60) days after the statement was mailed to you, you may not get back any money you lost after the sixty (60) days if we can prove 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 telling us, we will extend the time periods.

B. Telephone Number and Address to be notified in Event of Unauthorized Transfer.
If you believe your access code and/or password has been lost, stolen or compromised or that someone has transferred or may transfer money from your account without your permission, call:

1 800 868-4262 option 2 or 919 420-8000 option 2

or write:

Alternative Delivery Services Department

Coastal Federal Credit Union

P.O. Box 58429

Raleigh NC 27658

C.Business Day Disclosure:

Our business days are Monday through Friday. Holidays are not included as business days.

D.Types of Available Transactions, Transfers, and Limits On Same:

  1. Account Access - You may use your access code and password to:
    1. Transfer funds between subs and accounts which exist under the same primary social security number.
    2. Transfer funds to other subs and accounts as requested and approved via our "third party access" request form.
    3. Make loan and visa payments via transfers from subs and accounts to which you have access.
    4. Obtain loan advances against any authorized line of credit.
    5. Obtain balances on accounts.
    6. Obtain balances on loans.
    7. Obtain check clearance information.
    8. Obtain payroll information.
    9. Request check withdrawals to be mailed to your Credit Union address of record.
    10. Obtain rate information on savings and loan accounts.
    11. Place stop payments on personal checks (fee assessed).
    12. Place statement copy orders (fee assessed).
    13. Change your password.
  2. Limitations on Transactions and Service:
    1. You have a limited number of attempts to enter your access code and password before the system logs you off.
    2. The Credit Union may set limits on the total dollar amount of any one transaction.
    3. The Credit Union may set limits on the length of time per user session.
    4. The Credit Union may set limits on the aggregate dollar amount of multiple transactions.
    5. The Credit Union may set limits on the number of transactions done in a particular time frame.
    6. Normal system maintenance and testing may cause some down time.
    7. The dollar amount of any transaction may also be limited by the amount of money available in any one account or sub.
    8. The Credit Union has the right to check each transaction before it is treated as final.
    9. All transactions are subject to regulatory restrictions which normally apply in the financial services industry.

E. Your Right To Receive Documentation of Transfers:

Periodic Statements: You will receive a monthly Checking Account statement. You will receive a monthly statement for your Regular Savings Account for each month in which there were transfers made. You will receive a statement at least quarterly for your active Regular Savings Accounts.

F. Disclosure of Credit Union's 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 shortages. However, there are some exceptions. For instance, we will not be liable:

    1. If, through no fault of ours, you do not have enough money in your account to make the transfer; or
    2. If the system was not working properly and you knew about the breakdown when you started the transfer; or
    3. If circumstances beyond our control (such as fire or flood or loss of power) prevent the transfer, despite reasonable precautions taken by the Credit Union; or
    4. If the transfer would go over the credit limit on your line of credit; or
    5. If there are contractual limitations based on agreements between us that properly authorize us not to honor the transfer request;
    6. There may be other exceptions stated in our agreement with you.

G. In Case of Errors or Questions About Your Coastal On-Line Transaction System Transactions, Please Telephone:

1 800 868-4262 option 2 or 919 420-8000 option 2

We must hear from you no later than sixty (60) days after we sent the FIRST statement on which the error or problem appeared.

    1. Tell us your name and account number,
    2. Describe the error or problem that you are unsure about, and explain (if you can) why you believe it is an error OR why you need more information.
    3. Tell us the dollar amount of the suspected error.

If you tell us orally we will require that you send us your complaint in writing within ten (10) business days of your oral notification to us. PLEASE CALL FIRST!!! (This will allow us to take corrective action sooner.)

Need assistance? Try our Online Help or contact Member Support at (800) 868-4262 or (919) 420-8000.

Your savings federally insured to at least $250,000. National Credit Union Administration, a U.S. Government Agency. Equal Housing Lender.
Copyright © 2015 Coastal Federal Credit Union. All rights reserved.