Disclosures

USA Patriot Act

Important information about procedures for opening or changing an account with your financial institution

Section 326 of the USA PATRIOT Act requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account or changes an existing account. This federal requirement applies to all new customers and current customers. This information is used to assist the United States government in the fight against the funding of terrorism and money-laundering activities.

What this means to you: when you open an account or change an existing account, we will ask each person for their name, physical address, mailing address, date of birth, and other information that will allow us to identify them. We will ask to see each person’s driver’s license and other identifying documents and copy or record information from each of them.

Accessibility Policy

We want everyone who visits the CommonCents Credit Union website to feel welcome and find the experience helpful and without barriers. This policy does not stipulate any particular technology or design approach. The aim is to maximize access to and use of CommonCents Credit Union websites by people with disabilities.

Providing accessible web content can also benefit people who do not have disabilities but who are experiencing situational barriers. For instance, when accessing the Web from devices with small screens or in low bandwidth situations, or when experiencing barriers due to language or literacy levels, accessibility solutions can also support improved access. We are committed to ensuring equal access for people with disabilities. As potential customers and employees they are important contributor to https://www.commoncentscu.com/ business success and should not be excluded.

This policy applies to all new, updated, and existing web content on https://www.commoncentscu.com/. Content provided for our site by third-party developers will meet the same policy. This does not include user-generated content or third-party websites we link to such as Online Banking.

Technical Target

To help us acheive our Accessibility goals of a Level AA, we have been using the Web Content Accessibility Guidelines (WCAG) 2.0. These guidelines explain how to make web content more accessible for people with disabilities, and user friendly for everyone.

Funds Availability:

Effective July 1, 2020, we increased the amount we make available for withdrawal by checks subject to next day availability from $200.00 to $225.00. 

In addition, the amount available for withdrawal on exception holds for large deposits, new accounts and the amount for determining a repeat overdraft increases from $5,000.00 to $5,525.00.

Current Promotion Rules

CommonCents Credit Union “Pick Your Perk” Official Rules

Definitions and Abbreviations

“Member” is defined as the primary member on the loan application and the actual loan, and used interchangeably with “applicant”.

CommonCents Credit Union is also referred to as CCCU within this document.

Promotion Period

CommonCents Credit Union’s “Pick Your Perk” Giveaway promotion begins September 3rd through October 31, 2024, or by the time 60 qualifying loans are approved and funded (promotion period), whichever comes first.

Loan Eligibility

“Pick Your Perk” Loan Promotion is for the first 60 loans that are approved and funded collateral loans offered by CommonCents Credit Union during the aforementioned promotion period. These types of loans include all collateralized loans offered by CommonCents Credit Union; such as, Automobiles, Boats, RVs, ATVs, Motorcycles. The loan that is excluded is Mobile Home Loans and Home Equity Loans. The loan must be of at least $5,000.00 of new money in order for members to receive the option of a discounted loan rate or “Cash” when financing their loan. This also includes “new money” loans that are refinanced here from another institution. In order to qualify to be entered into the cash giveaway at the end of the promotion, the loan must be a minimum of $10,000.

All loan applications will be screened and decisions will be made upon select criteria including but not limited to, the applicant’s credit scores, payment history, income/debt ratio and the forecasted ability to repay the loan. All accounts that are associated with the member must be in good standing at the time the loan is approved and awarded; same rules apply for co-applicants. Applicants must choose their preferred reward and communicate it to the CCCU staff at the time of application so the loan can be determined accordingly. Once the loan is funded, the method of reward does not change.

Reward Eligibility

Any member who is awarded an eligible loan, must meet the following criteria to receive his/her loan reward (discounted loan rate or reimbursement). The loan repayment must be scheduled on automatic payments from the member’s CCCU share or share draft account.

Discounted Loan Rate

Along with the aforementioned eligibility requirements, the following applies:

If a member chooses to receive the discounted loan rate of 1.50%, he/she will receive the discounted rate at the time of funding the loan. This rate will be 1.50% lower th

the applicant’s loan rate in accordance to his/her credit score. However, the loan rate shall not be less than 4.00% APR (Annual Percentage Rate).

“Cash” Reward

The “Cash” reward is not cash, it is a one-time direct deposit into the member’s CCCU share/share draft account of his/her choice. The member must select and notify the CCCU employee of his/her preference at the time of his/her loan approval.

The deposited amount is determined upon the total amount of new money financed on the member’s loan, and will be 1.50% of the financed loan amount, but will not exceed

$500.00.

Along with the aforementioned eligibility requirements (with the exception of “Discounted Loan Rate”), the following applies:

In order for a member to receive the reward, he/she must pay his/her loan on or before the due date for the loan’s first payment due date. All CCCU accounts associated with the member must be in good standing at the time of loan funding and at the time of receiving the loan “reward” and their loan must be still an active and open loan. The member must pay his/her first loan payment prior to receiving the reward. The credit union has up to 30 days to deposit the rewarded amount to the member’s account after the loan payment is made.

CommonCents employees are eligible for Pick Your Perk but are not eligible to be entered in the cash drawing.

PRIZE DRAWING

Eligibility

All loans within the promotion of a minimum of $10,000 or more will be entered in the drawing. You must be at least 18 years of age at the time of entry. Void in overseas

U.S. territories, possessions, commonwealths and military installations, and where prohibited by law. Employees and agents of CommonCents Credit Union its affiliates, subsidiaries, advertising and promotional agencies, any other prize sponsor, and any entity involved in the development, production, implementation, administration or fulfillment of the promotion, and the immediate family members and persons living in the same household as such individuals, whether related or not, are not eligible to participate or win. CommonCents employees are eligible for Pick Your Perk but are not eligible to be entered in the cash drawing.

HOW TO ENTER

No purchase necessary to enter. A purchase does not improve your chances of winning.

During the aforementioned promotion period, there are two ways to enter:
1.    You will be automatically entered into the drawing if you: qualify for and obtain a collateralized loan with CommonCents Credit Union during the Promotion Period of $10,000 or more. Refinances of CommonCents Credit Union current auto loans do not qualify. All member accounts must be in good standing at the time of the drawing according to CommonCents Credit Union guidelines. Good standing includes no negative balances, no delinquencies on your auto loan and your collateral is properly insured.

2.    Alternatively, to enter the drawing without purchase, hand print your complete name, address, age, daytime/evening phone numbers, email address, and the words,“CommonCents Credit Union’s Pick Your Perk Giveaway” on a plain piece of “3 x 5” paper, either drop it at any branch or mail in an envelope with sufficient postage affixed to: CommonCents Credit Union, Marketing Department; PO Box 20396; Beaumont, TX 77720. Mail-in entries must be postmarked by October 31, 2024 and received by October 31, 2024/

Limit one entry per person.

The following applies to both methods of entry: LIMIT ONE ENTRY PER PERSON, REGARDLESS OF MEANS OF ENTRY. Although subsequent attempts to enter may be received, only the first entry received from a particular individual will count; subsequent attempts to enter by that individual will be disqualified. Entries may only be made according to the methods described above. Proof of sending (such as an automated computer receipt confirming delivery of email or post office receipt) does not constitute proof of actual receipt by CommonCents Credit Union of an entry for purposes of these Official Rules. Automated entries (including but not limited to entries submitted using any bot, script, macro, or sweepstakes service), copies, third party entries, facsimiles and/or mechanical reproductions are not permitted and will be disqualified. Only eligible entries actually received by CommonCents Credit Union before the end of the specified entry period will be included in the prize drawing. Illegible, unintelligible, incomplete, garbled, or mutilated entries will be disqualified. All entries become the property of CommonCents Credit Union and none will be acknowledged or returned

Prize

One winner will receive $1,500.00 directly deposited into his/her share account. The winner must meet the required criteria to receive the one time prize deposit. If winner does not have a CommonCents Credit Union loan or account, prize will be awarded via check. The prize is provided by CommonCents Credit Union. Winner will not receive cash – no substitutions by winner permitted. Odds of winning are dependent on the number of eligible entries received. No substitution or transfer of prizes permitted.

Winner is responsible for all applicable federal, state and local taxes. Winners must agree to the terms of the prize and sign a winner waiver form. Winners receiving a prize valued for more than $600 may receive a 1099-MISC at the end of the year. Winners are responsible for any additional fees associated with the prize.

Drawing

A random drawing will be held on November 8, 2024. The drawing will include the entries received during the promotion period. Entrants need not be present to win. The winner will be notified by phone by a representative of CommonCents Credit Union.

The winner has seven (7) business days to claim his/her prize. If the prize is unclaimed after seven (7) business days, as of the eighth day the “winner” forfeits his/her “prize” winnings. In the event this occurs, CommonCents Credit Union will select an alternative winner, and the same methods and rules apply.

Conditions

The drawing is void where prohibited or restricted by law and is subject to all federal, state and local laws and regulations. Winner agrees to the use of their name and likeness in publicity without notice or any additional compensation, except where prohibited by law. By entering this promotion, each entrant releases CommonCents Credit Union and its respective directors, officers, employees, agents, and subsidiaries from any and all liability, claims, causes of action, suits, and demands arising from or in connection with its lawful actions in conducting the promotion. CommonCents Credit Union reserves the right, in its sole discretion, to cancel or suspend this promotion, in its entirety or in part, should tampering, unauthorized intervention, fraud, technical failures, or other causes beyond CommonCents Credit Union’s control corrupt the administration, security, fairness, integrity or proper play of the promotion.

Sponsor

CommonCents Credit Union, PO Box 23096, Beaumont, Texas, 77720.