Important Disclosure Information Regarding Your Loan at
Credit Union of Leavenworth County:
The Credit Card Accountability Responsibility and Disclosure Act of 2009
Congress recently enacted The Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act), requiring all financial institutions, including Credit Union of Leavenworth County, to allow a span of 21 days from the time a statement for an open-end credit plan is mailed or delivered until the payment is due. This new requirement affects most loans that CULC members hold.
To comply with the CARD Act, all loans affected will have a new payment date of the 28th of each month, effective October, 2009.
How does this affect your loan?
If you make a direct payment by mail, or by visiting one of our branches, or an automatic payment, such as direct deposit or payroll deduction, you may continue to do so without any changes.
If you have arranged with CULC staff for your payment to be transferred from your account once a month, the transfer will now occur on the 28th of each month. If this change is acceptable to you, no action on your part is necessary. If this is not acceptable, and you would prefer an earlier due date, we may have other options available. Please contact us and we will work to accommodate your request.
Please note, in any case, interest will continue to accrue on your loan each day until a payment is received.
Your Credit Union of Leavenworth County Board of Directors and Staff take very seriously our responsibility to be in compliance with all credit union regulatory agencies and Federal and State laws. The CARD Act went into effect very quickly, there were significant changes required and the deadline for compliance was immediate.
Please call us if you have any questions. We are here to serve you.
CREDIT UNION OF LEAVENWORTH COUNTY
397 1st STREET 4101 S. 4TH STREET
LANSING, KS 66043 LEAVENWORTH, KS 66048
(913) 250-0195 (913) 682-8770 |
