Carolina Trust Federal Credit Union

Mailing Address: PO Box 780004, Myrtle Beach, SC 29578-7804
Phone: (843) 448-2133 / Hours & Locations / Contact Us
Lost or Stolen Cards: Debit: 1-888-918-7810 and Credit: 1-800-654-7728

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US Patriot Act Notice
Privacy Statement
Reconciliation Sheet
Inactive Account Policy
Federal Regulation D
Account Balances & Availability of Funds
Debit Card & ATM Authorizations
Home Mortgage Disclosure Act Notice
Equal Housing Lender Notice of Nondiscrimination Compliance
This Credit Union is Federally Insured
Annual Reminders
BALANCE Financial Fitness

2012 Holidays Observed

Carolina Trust will be closed the following days. Please use our 24-hour online banking, phone banking, ATMs and night deposit services.

New Year’s Day - Monday, January 2

Martin Luther King Jr. Day - Monday, January 16

Presidents Day - Monday, February 20

Memorial Day - Monday, May 28

Independence Day - Wednesday, July 4

Labor Day - Monday, September 3

Columbus Day - Monday, October 8

Veterans Day - Monday, November 12

Thanksgiving Day - Thursday, November 22

Christmas Day - Tuesday, December 25

US Patriot Act Notice

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 apply for or open an account, you will be asked for your name, physical address, date of birth, and other identifying information. We appreciate your cooperation.

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Inactive Account Policy

Inactivity Account Policy: If you make routine deposits to your savings, pay down a loan, or use your checking account or VISA credit card, then your account is considered active. However, if you have a Carolina Trust savings, checking or loan account that has not received a transfer, withdrawal or transaction within the past 12 months then that account is considered inactive. A $3 inactivity fee will be charged each month the account remains inactive. This fee will continue to be charged until you make a minimum $1 transaction to your account, until your balance is $0 or for five years, whichever comes first. After five years of inactivity, the account is considered dormant and abandoned property by the state of South Carolina. Carolina Trust is required to return any abandoned account over to the State. Carolina Trust’s Inactivity Account Policy applies to all youth and adult accounts, excluding IRAs. You can prevent an inactive status by making at least one deposit, withdrawal or transfer to your account(s) within a 12-month period.

Federal Regulation D

The US Government requires all financial institutions to enforce Federal Regulation D. Reg D limits the number of transactions that can be made from a depository account during a calendar month. A depository account is defined as a savings-only or money market* account. Members may not make more than six (6) transfers or withdrawals from a depository account during a month by the following means:

Online banking
ACH
ATM transaction at merchant
Telephone transfer (either by E-Z Teller Audio Response or through a Member Service Representative)
Automatic overdraft protection transfer from your savings or a joint account

Carolina Trust is federally required to refuse any transfer or withdrawal from a depository account that exceeds the Fed Reg D limitations. If you should exceed the monthly limitations on your savings or money market account, any transfer or withdrawal attempted from your depository account will be refused, the transaction will be returned for Non Sufficient Funds (NSF), and an NSF fee will be charged to your account.

There is no limit to the number of withdrawals you may make from a depository account at a Carolina Trust branch or ATM location**.

To avoid exceeding the “Reg D” limitations, consider having your paycheck or social security check directly deposited into your checking account and have any automatic payments deducted from your checking account instead of your savings account. That way, you’ll have the “six free” transfers or withdrawals available for emergencies or accidental checking overdrafts.

*Money market accounts are assessed a fee for each withdrawal over 3 per month. **Savings accounts are assessed a fee for each withdrawal over 4 per month.

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Account Balances & Availability of Funds

At all times, members are responsible for knowing their account balances to avoid overdrafts and insufficient fund transactions. It is a good practice to immediately record all transactions as soon as they are authorized, including checks, ATM withdrawals, ATM purchases and cash back amounts given at the register, VISA^® debit card purchases (authorized by PIN or signature), and any ACH/electronic debit transaction (by phone or online).

It is always better to assume that all authorized transactions have been debited immediately, regardless of when they actually post to the account. Finally, always leave a small cushion in the account to help avoid overdrafts and NSF situations.

- Pin Based Debit Card Transactions
VISA^® debit card transactions made using the 4-digit PIN code are either immediately approved or declined based on the ACTUAL account balance. These transactions post immediately to the member’s account.
- Signature Based Debit Card Transactions
Signed VISA^® debit card transactions are authorized through the VISA^® network (treated as "credit"). These transactions are either accepted or declined based on the AVAILABLE account balance. However, a Hold will be placed on account funds for the authorized amount until the debited amount actually posts to the account up to 3 days later.

- Transactions on Hold for amounts that are greater or less than actual debit amounts will affect AVAILABLE balance
Transactions made at restaurants and other service facilities typically authorize 10-20% over the actual bill to account for possible gratuity. Many travel-related purchases such as hotel reservations, car rentals, and airfare purchases may place significant Holds on an account. These Holds may expire in up to 3 calendar days or be released when the actual transaction amount is posted. If the Hold and the Posted transactions do not match (as in the case where a tip is added to a restaurant charge amount), then the account could potentially be affected by both the Hold and Posted amounts for a period of time until the Hold is released.

Pay-at-the-pump debit card fuel transactions may authorize Hold amounts from $1 to $70 for up to three days, regardless of the actual amount purchased. Therefore, your AVAILABLE balance will not reflect accurately until the actual transaction amount is posted. AVAILABLE balance is the actual balance minus any Holds.
ACTUAL balance
- Hold amounts
AVAILABLE balance

In the event that the processing system is down due to routine maintenance, system upgrades, phone line disruptions, or network outages, then a transaction authorization could be obtained without having adequate funds available in the account. If the account is taken to a negative balance as a result, then the member may incur a non sufficient funds (NSF) fee.

Debit Card & ATM Authorizations

Within a 24-hour period, VISA^® Debit and ATM cardholders may authorize up to $1,000 in PIN-based transactions. VISA^® Debit cardholders may continue to authorize up to $2,000 per day in signature-based (credit) transactions. Withdrawals made at ATM locations will continue to be limited to 3 per day or up to $600 cash, whichever occurs first, within a 24-hour period.

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Home Mortgage Disclosure Act Notice

The HMDA data about our residential mortgage lending is available for review. The data shows geographic distribution of loans and applications; race, ethnicity, gender, and income of applicants and borrowers; and information about loan approvals and denials. Inquire at this office regarding the locations where HMDA data may be inspected.

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Equal Housing Lender Notice of Nondiscrimination Compliance

Under the federal fair housing act, it is illegal, on the basis of race, color, national origin, ethnicity, religion, sex, handicap, or familial status (having children under the age of 18), to: deny a loan for the purpose of purchasing, constructing, improving, repairing or maintaining a dwelling, or denying any loan secured by a dwelling; or discrimination in fixing the amount, interest rate, duration, application procedures or other terms or conditions of such a loan, or in appraising property.

If you believe you have been discriminated against, please send complaint to: Assistant Secretary for Fair Housing and Equal Opportunity Department of Housing and Urban Development, Washington, D.C. 20410, For: Processing under the Fair Housing Act
and to National Credit Union Administration, Office of Examination and Insurance, 1775 Duke Street, Alexandria, VA 22314-3428, For: Processing under NCUA Regulations.

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This Credit Union is Federally Insured

The National Credit Union Administration (NCUA), a U.S. Government agency, federally insures all deposits in Carolina Trust. The National Credit Union Share Insurance Fund insures deposits to at least $250,000 for each account owner listed on an account. IRA deposits are insured separately up to $250,000 for each account owner listed on an account. It is one of the strongest federal deposit insurance programs in the United States. For more information, please visit www.ncua.gov.

Notice of Changes in Temporary NCUA Insurance Coverage for Noninterest-Bearing Transaction Accounts
All funds in a ‘‘noninterest-bearing transaction account’’ are insured in full by the National Credit Union Administration through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to members under the NCUA’s general share insurance rules. The term ‘‘noninterest-bearing transaction account’’ includes a traditional share draft account (or demand deposit account) on which the insured credit union pays no interest or dividend. It does not include any transaction account that may earn interest or dividends, a negotiable order of withdrawal (‘‘NOW’’) account, money market deposit account, and Interest on Lawyers Trust Account (‘‘IOLTA’’), even if share drafts may be drawn on the account. For more information about temporary NCUA insurance coverage of transaction accounts, visit www.ncua.gov.

This Credit Union is federally-insured by the National Credit Union Administration

Annual Reminders

Update your personal information. Members go through many changes during the course of a year. You may have changed your residence, place of employment, phone numbers, or email address. It is important for your Credit Union to have your current daytime contact information on file. If unusual activity is discovered on your account, then we will want to contact you right away.

Take your Traditional IRA required minimum distribution.
If you are age 70 1/2 as of June 30th and you have a Traditional Individual Retirement Account (IRA), then you will want to take your required minimum distribution by December 31st of the same year. If you turn age 70 1/2 after June 30th, then you may take your required minimum distribution the following year. Consult your tax advisor or call Carolina Trust for more details.

If you have an Individual Retirement Account (IRA) or variable rate IRA certificate, then you have until April 15th to contribute to your IRA for the prior year's tax reporting purposes. The maximum contribution amount is typically a little higher for account owners, age 50 and older, but amounts may vary each year. The Fair Market Value of your IRA is the balance of the IRA on December 31st. Consult your tax advisor or call Carolina Trust for more details.

Consider opening a Christmas Club Savings account.
Carolina Trust offers a competitive-rate on our Christmas Club savings account. This account allows you to save for holiday expenses throughout the year while earning dividends on your deposits. Monthly deposits may be made to this account via direct deposit, payroll deduction, or at the Credit Union. Christmas Club account balances automatically transfer to your checking or savings account on November 1st, just in time for the holiday shopping season!

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BALANCE Financial Fitness

Our partner in providing free financial planning and counseling services for our membership is BALANCE™ Financial Fitness. Members may contact a BALANCE representative to receive free and personal financial counseling for home buying, college preparation, debt consolidation, retirement planning, and more. BALANCE will also help members interpret their credit reports, develop a debt repayment strategy, set up reliable payment schedules, negotiate with creditors to reduce payments, and much more. To speak with a BALANCE representative, call 1-888-456-2227 toll free or visit the BALANCE website

BalanceTrack is a personal financial education program brought to you by BALANCE and Carolina Trust. The education modules will guide you through the core aspects of personal financial management from home buying and balancing your checking account to using credit cards wisely. Just click on BalanceTrack to get started.

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Please Note: When you access an external third-party site via a "live link" on the Carolina Trust website, the Credit Union in no way assumes any responsibility or liability for the information contained therein nor does the Credit Union warrant the products and services offered to the viewer. Additionally, privacy and security policies of alternate sites may differ from those practiced by Carolina Trust.

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