Missoula Federal Credit Union

Missoula Federal Credit Union Disclosures

Disclosure of Account Information to Third Parties:
We will not disclose information relating to any transaction by electronic transfer or application thereof to any person or government entity except with your consent or under subpoena issued by a court of record. This does not prevent disclosure of such information:

  • to a duly authorized auditor or regulatory authority examining Missoula Federal Credit Union.
  • to a credit bureau or clearing house which administers transactions between financial institutions.
  • to a party to the transaction seeking information relating to a specific transaction.
  • under regulatory requirements of NCUA.
Truth in Savings Disclosure
1. Dividends: The dividend rate and Annual Percentage Yield are disclosed on our rate schedule. They are variable rates except for certificate accounts and are subject to change at any time at Board discretion. Dividends are paid from current income and available earnings after required transfers to reserves at the end of each dividend period. Rates and APYs are quoted as that which the credit union anticipates paying for the period.

2. Compounding and Crediting: Dividends (except on IRA certificates) are compounded monthly and credited to your account monthly. The dividend period for share accounts starts on the first day of each month and ends on the last day of each month inclusively. The dividend period for Term Share Certificate is one month, based on the open date. IRA certificates compound annually from their opening date.

3. Accrual of Dividends: Dividends begin to accrue on the business day you make your deposit. If you close your account before accrued dividends are credited, accrued dividends will not be paid. Dividends are calculated using the daily balance method. This method applies the daily periodic rate to the entire principal in the account at the end of each day the balance is equal to or above the minimum.

4. Withdrawals: We reserve the right to at any time require no less than seven (7) days’ written notice from a dividend- bearing account. Share Accounts and Money Market Share Accounts are restricted by federal rules to not more than six (6) telephone or preauthorized transfers per month.

Early Withdrawal Penalty (for Term Share Accounts)
At management discretion, we may allow you to withdraw all or part of your funds before the maturity date. A substantial penalty will be assessed:

Term: Penalty:
2 years or less

90 days interest

2 to 4 years

More than 4 years

Effective May 1st, 2013
180 days interest

1/2 the rate effective from open date


Whether or not dividend has been earned--may reduce principal.

Statements are mailed quarterly for all Share Accounts, Money Market Accounts, and Term Share Certificates. Complete statements are mailed monthly for all Share Draft Accounts.

Funds Availability Disclosure
Your Ability to Withdraw Funds
Our policy is to make funds from your deposits to your share draft account available to you immediately whenever prudent. You are responsible for the items you deposit. If they are returned unpaid for any reason, they will be deducted from your account even if we have previously given you credit for them. If you have any doubt about their validity, talk to us about it. Deposits to your share savings accounts may not be available immediately and are not subject to this policy. Electronic deposits and deposits of cash, unless suspected to be counterfeit, will be available on the day we receive the deposit.

Deposits of checks may not be available immediately in all cases, such as if you are depositing personal, out-of-state or unknown business checks that total greater than the amount of funds you have on deposit in your account or checks that total greater than $5,000. Depending on the type of check, the funds will be held until the next business day up to the 2nd business day following the day of deposit unless they fall in the exception category below.

Normally, the first $200 of your deposit will be available the business day following the day of your deposit. In most cases, we will notify you at the time of your deposit when the funds will be available. If you do not make the deposit in person or if we make a determination after you leave, we will mail the notice to you by the end of the business day we receive your deposit.

Exceptions that may be held from 2 to 7 business days are:

• We believe the check(s) you deposit will not be paid or are counterfeit.
• You deposit checks totaling more than $5,000 in one day.
• You redeposit a check that has been returned.
• You have overdrawn your account repeatedly in the last six months.
• There is an emergency, such as a communications or computer failure.

For determining availability of your deposits, every day except Saturday, Sunday and federal holidays are business days.

Deposits made after 5:00 p.m. or on a day we are not open will be considered made on the next business day we are open.

New Member: Special rules extending holds apply the first thirty (30) days your account is open. Funds from electronic direct deposits will be available the day we receive the deposit. Funds from cash, wire transfers, and the first $5,000 of a day’s total deposit of cashier’s checks, certified, teller’s, traveler’s and state and local government checks, and US Postal Money Orders will be available the next business day if the deposit meets certain conditions. For example, the check must be payable to you and must be verified as authentic, not counterfeit. The excess over $5,000 will be available to you on the 9th business day after the day of deposit. If they are not presented in person to one of our employees, the first $5,000 will not be available until the 2nd business day after the day of your deposit. All other checks deposited may be held up to 2 business days.

Deposits at ATMs: Deposits at an ATM owned by Missoula Federal Credit Union will be available to you no later than the 2nd business day following the business day of deposit. Deposits to ATMs not owned by us are not available until the 5th business day following the business day of deposit.

MFCU Check Cashing Fee
1% of check amount --$10 minimum
In order for Missoula Federal Credit Union to serve its entire membership effectively, we must have participating members who borrow and save with us. In order to defray the costs of keeping enough cash on hand and fulfill the financial needs of all members, MFCU has a check cashing fee policy that applies to all checks.

Members may avoid the fee by maintaining any of the following:
  • A $100 average balance over the past 3 months
  • An active loan with an outstanding balance
  • A term share certificate

*Does not apply to minors 18 and under


Online Account Access
Please review the Online Account Access page for the "Miss Web" Disclosures and Procedures

Fees and Disclosures
All of our fees are available in our Fees and Disclosures document.

VISA Card Disclosures
Please review the VISA Consumer Credit Card Agreement.


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