Disclosures/Policies
DuTrac Community Credit Union is committed to preserving and protecting the privacy and security of your personal information. This commitment is a fundamental mission of your Credit Union.
DuTrac Community maintains strong security controls to ensure that your information is protected and consistently monitors and improves upon the verification process to protect against unauthorized access to personal information.
e-Statement Disclosure
EcoPlus Account Disclosures
Privacy Disclosure
Children’s Online Privacy Policy
BillPayer Disclosure
PC Branch Agreement and Disclosure
Life Savings Insurance
In-House Loans
Secondary Market Loans
DuTrac Fees
e-Statement Disclosure
*Accounts must be in good standing. This promotion is valid August - November 2010, while supplies last. Enrollment in e-Statements may also be done on dutrac.org or by calling (563) 582.1331 or (800) 475.1331. Water bottle promotion available for in-branch enrollments only.
EcoPlus Account
Terms and conditions may apply. Contact a financial services consultant for details. Automatic payment bonus will be deposited into members account 90 days after account opening. EcoPlus Account Annual Percentage Yield (APY) of 0.00%. 0.00% APY is offered for the life of the account. No minimum balance and no minimum deposit is required to open the EcoPlus Account. EcoPlus Account requires member to subscribe to e-Statements and establish a recurring direct deposit.
You have the right to a free credit report from AnnualCreditReport.com or (877) 322.8228, the ONLY authorized source under federal law.
Privacy Disclosure
DuTrac Community Credit Union is committed to providing you with financial products and services to meet your needs and help you reach your financial goals. We're required by law to give you this privacy notice to explain how we collect, use, and safeguard your personal financial information. If after reading this notice you have any questions, please contact us at 563-582-1331.
We are committed to providing you with competitive products and services to meet your financial needs, which necessitates that we share information about you to complete your transactions and to provide you with certain financial opportunities. In order to do so, we have entered into agreements with other companies that provide either services to us or additional financial products for you to consider. Under these arrangements, we may disclose all of the information we collect, as described below, to companies that perform marketing or other service on our behalf or to other financial institutions with whom we have joint marketing agreements. To protect our members' privacy, we only work with companies that agree to maintain strong confidentiality protections and limit the use of information we provide. We do not permit these companies to sell the information we provide them to third parties.
Information about You We Collect and Disclose
1. Information we receive from you on applications or other forms;
2. Information about your transactions with others or us;
3. Information we receive from a consumer reporting agency;
4. Information obtained when verifying the information you provide on an application or other forms, such as from your current or past employers or from other institutions where you conduct financial transactions.
We may also disclose information we collect about you under other circumstances as permitted or required by law. These disclosures typically include information to process transactions on your behalf, conduct the operations of our credit union, and follow your instructions as you authorize, or protect the security of our financial records.
Confidentiality and Security
If you terminate your membership with DuTrac Community Credit Union, we will not share information we have collected about you, except as permitted or required by law.
We restrict access to nonpublic personal information about you to those employees who have a specific business purpose in utilizing your data. Our employees are trained in the importance of maintaining confidentiality and member privacy. We maintain physical, electronic, and procedural safeguards that comply with federal regulations and leading industry practices to safeguard your nonpublic personal information.
What Members Can Do To Help
DuTrac Community Credit Union is committed to protecting the privacy of its members. Members can help by following simple guidelines:
Protect your account numbers, card numbers, PINs (personal identification numbers) and passwords.
Never keep your PIN with your CheckCard, ATM card or credit card that can provide free access to your accounts if your card is lost or stolen.
Use caution when disclosing your account numbers, social security numbers, etc. to other persons. If someone calls you, explains the call is on behalf of the credit union and asks for your account number, you should be cautious. Official credit union staff will have access to your information and will not need to ask for it.
Keep your information with us current. It is important that we have current information on how to reach you. If we detect potentially fraudulent or unauthorized activity or use of an account, we will attempt to contact you immediately. If your address or phone number changes, please let us know.
Let us know if you have questions. Please do not hesitate to call us - we are here to serve you!
Children's Online Privacy Policy
This is how we will handle information we learn about you from your visit to our website. The information we receive depends upon what you do when visiting our site.
If you visit our site to read or download information:
We collect and store only the following information about you: the name of the domain from which you access the Internet (for example, aol.com, if you are connecting from an America Online account); the date and time you access our site; and the Internet address of the website from which you linked directly to our site.
We use the information we collect to measure the number of visitors to the different sections of our site, and to help us make our site more useful to visitors.
If you identify yourself by sending an e-mail:
You also may decide to send us personally identifying information in an electronic mail message. We will respond to your e-mail as appropriate and may keep your e-mail address for the purpose of sending information pertinent to DuTrac Community Credit Union.
Although we may retain your e-mail address we will not sell, give, or in any way share, your personally identifying information to any third party vendor or to any other organization.
BillPayer Disclosure
This agreement governs the use of your Online BillPayer Service. By enrolling in BillPayer, you hereby authorize DuTrac Community Credit Union to make payments on your behalf by debiting the designated checking account and transferring the funds to the designated merchant accounts as indicated. The agreements, rules, and regulations applicable to your checking, savings accounts and other accounts, serviced by your credit union, remain in effect and continue to be applicable, except as specifically stated in this agreement.
Disclosure of Procedures and Fees
By accepting this agreement, you will be billed for the Online BillPayer service based on the following fee plan.
Online BillPayer is a FREE SERVICE. There are no monthly fees or per items fees for using the service. You should also sign up for and use online e-statements, also a free online service from DuTrac Community!
When scheduling payments, please allow three business days for an electronic payment and seven business days if paying by check. (Choose a payment date at least three days prior to the due date on your bill when paying electronically.)
Scheduled payments that fall on a Saturday or Sunday will be paid on Monday.
Open payee enrollment gives members unlimited capacity to add payees. In order to establish a level of quality control, your payees will be notified. Successful notification can take up to four days. Therefore, when setting up a payment for a new payee, please wait until the Payee Status reads "available".
Fees described above apply to the use of Internet BillPayer. Additional fees may be incurred for late payments or insufficient funds on your account. These fees are $25.00 per item. There is no limit to the number of payees and/or payments that you can set up using this service.
PC Branch Agreement and Disclosure
This PC Branch Agreement and Disclosure ("Agreement") is the contract which covers your and our rights and responsibilities concerning the PC Branch services offered to you by DuTrac ("DuTrac Community Credit Union"). The PC Branch service permits you to electronically initiate account transactions involving your accounts and communicate with DuTrac Community Credit Union. In this Agreement, the words "you", "your" and "yours" mean those who request and use PC Branch, any joint owners of accounts accessed under this Agreement or any authorized users of this service. The words "we," "us," and "our" mean the Financial Institution. The word "account" means any one or more accounts you have with DuTrac Community Credit Union. By requesting and using the PC Branch service, each of you, jointly and severally, agree to the terms and conditions in this Agreement, and any amendments.
PC Branch Service
Account Access
If we approve your application for the PC Branch service, you may use your personal computer to access your accounts. You must use your access code along with your account number to access your accounts. The PC Branch service is accessible seven (7) days a week, twenty-four (24) hours a day. You will need a personal computer, direct dial modem and access to the Internet (Word Wide Web). You are responsible for the installation, maintenance and operation of any software and your computer. DuTrac Community Credit Union will not be responsible for any errors or failures involving any telephone service, Internet service, software installation or your computer.
Types of Transactions
At the present time, you may use the PC Branch service to:
- Transfer funds between your checking, savings and loan accounts.
- Transfer funds to accounts of other members you authorize for any of your accounts.
- Review account balance, transaction history and tax information for any of your checking, savings or loan accounts.
- Request a withdrawal from any checking, savings, or loan account by check mailed to you.
- Conduct other transactions permitted by DuTrac Community Credit Union.
- Communicate with DuTrac Community Credit Union using the electronic mail ("E-mail") feature.
Transactions involving your deposit accounts, including checking account stop payment requests, will be subject to the terms of your account agreement and transactions involving a line of credit account will be subject to your loan agreement and disclosures, as applicable.
Service Limitations
The following limitations on PC Branch transactions may apply in using the services listed above:
1. Transfers
You may make funds transfers to other accounts of yours as often as you like. However, transfers and bill payments from a savings or a money market account will be limited to a total of six (6) in any one month. You may transfer or withdraw up to the available balance in your account or up to the available credit limit on a line of credit at the time of the transfer, except as limited under this Agreement or your deposit or loan agreements. DuTrac Community Credit Union reserves the right to refuse any transaction that would draw upon insufficient or unavailable funds, lower an account below a required balance, or otherwise require us to increase our required reserve on the account.
2. Account Information.
The account balance and transaction history information may be limited to recent account information involving your accounts. Also, the availability of funds for transfer or withdrawal may be limited due to the processing time for ATM transactions and our Funds Availability Policy.
3. E-Mail.
DuTrac Community Credit Union may not immediately receive e-mail communications that you send and DuTrac Community Credit Union will not take action based on e-mail requests until the Financial Institution actually receives your message and has a reasonable opportunity to act. If you need to contact DuTrac Community Credit Union immediately regarding an unauthorized transaction or stop payment request, you may call DuTrac Community Credit Union at the telephone number set forth in the Liability for Unauthorized Access section.
Security of Access Code
The personal identification number (PIN) or access code ("access code") issued to you is for your security purposes. The access code is confidential and should not be disclosed to third parties or recorded. You are responsible for safe keeping your access code. You agree not to disclose or otherwise make your access code available to anyone not authorized to sign on your accounts. If you authorize anyone to use your access code that authority shall continue until you specifically revoke such authority by notifying DuTrac Community Credit Union. If you fail to maintain the security of these access codes and DuTrac Community Credit Union suffers a loss, we may terminate your PC Branch and account services immediately.
Liability For Unauthorized Access
You are responsible for all transfers and bill payments you authorize under this Agreement.
- If you permit other persons to use the PC Branch service or your access code, you are responsible for any transactions they authorize or conduct on any of your accounts. However, tell us at once if you believe anyone has used your access code or accessed your accounts through PC Branch without your authorization. Telephoning is the best way of keeping your possible losses down.
- If you tell us within two (2) business days, you can lose not more than fifty dollars ($50.00) if someone accesses your accounts without your permission.
- If you do not tell us within two (2) business days after you learn of the unauthorized use of your account or access code, and we can prove that we could have stopped someone from accessing your account without your permission if you had told us, you could lose as much as five hundred dollars ($500.00).
- If your statement shows PC Branch 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 lost after the sixty days (60) if we can prove that we could have stopped someone from making the transfers if you had told us in time.
- If a good reason (such as a hospital stay) kept you from telling us, we will extend the time periods.
If you believe that someone has used your access code or has transferred or may transfer money from your account without your permission, call DuTrac Community Credit Union at: 800-475-1331 or write DuTrac Community Credit Union at:
P.O. Box 3250,
Dubuque, Iowa 52004-3250.
In IOWA, you may be required to provide written notice to us concerning any unauthorized transfer.
Business Days
Our business days are Monday through Friday. Holidays are not included.
Fees and Charges
There are certain charges for PC Branch services as set forth on DuTrac Community Credit Union's Fee Schedule. From time to time, the charges may be changed. We will notify you of any changes as required by law. If you request a transfer or check withdrawal from your line of credit account, such transactions may be subject to charges under the terms and conditions of your loan agreement.
Periodic Statements
Transfers, withdrawals, and bill payments transacted through PC Branch will be recorded on your periodic statement. You will receive a statement monthly unless there is no transaction in a particular month. In any case, you will receive a statement at least quarterly.
Account Information Disclosure
We will disclose information to third parties about your account or the transfers you make:
- As necessary to complete transfers and bill payments;
- To verify the existence of sufficient funds to cover specific transactions upon the request of a payee or a third party, such as a credit bureau or merchant;
- To comply with government agency or court orders;
If you give us your written permission.
DuTrac Community 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 and the instructions you transmit, we will be liable for your actual losses or damages. However, the Financial Institution will not be liable:
- If, through no fault of ours, you do not have adequate funds in your account to complete a transaction, your account is closed, or the transaction amount would exceed your credit limit on your line of credit, if applicable.
- If you used the wrong access code or you have not properly followed any applicable computer, Internet Access, or DuTrac Community Credit Union user instructions for making transfer and bill payment transactions.
- If your computer fails or malfunctions or the PC Branch service was not properly working and such problem should have been apparent when you attempted such transaction.
- If circumstances beyond our control (such as fire, flood, telecommunication outages, postal strikes, equipment or power failure) prevent making the transaction.
- If the funds in your account are subject to an administrative hold, legal process or other claim.
- If you have not given DuTrac Community Credit Union's complete, correct and current instructions so the Financial Institution can process a transfer or bill payment.
- If the error was caused by a system beyond DuTrac Community Credit Union's control, such as your Internet Service Provider.
- If you do not authorize a bill payment soon enough for your payment to be made and properly credited by the payee by the time it is due.
- If DuTrac Community Credit Union makes a timely bill payment but the payee nevertheless does not credit your payment promptly after receipt.
- If there are other exceptions as established by DuTrac Community Credit Union from time to time.
Termination of PC Branch Services
You agree that we may terminate this Agreement and your use of the PC Branch services if you or any authorized user of your account or access code breach this or any other agreement with us; or if we have reason to believe that there has been an unauthorized use of your account or access code.
You or any other party to your account can terminate this Agreement by notifying us in writing. Termination of service will be effective the first business day following receipt of your written notice. However, termination of this Agreement will not affect the rights and responsibilities of the parties under this Agreement for transactions initiated before termination.
Notices
The DuTrac Community Credit Union reserves the right to change the terms and conditions upon which this service is offered. The DuTrac Community Credit Union will mail notice to you at least twenty one (21) days before the effective date of any change, as required by law. Use of the PC Branch service is subject to existing regulations governing your accounts and any future changes to those regulations.
Billing Errors
In case of errors or questions about your PC Branch transactions, telephone us at the phone number or write to us at the address set forth above in the Liability for Unauthorized Access section as soon as you can. We must hear from you no later than sixty (60) days after we sent the first statement on which the problem appears.
Tell us your name and account number.
Describe the transaction you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.
Tell us the dollar amount of the suspected error.
- If you tell us orally, we may require that you send us your complaint or question in writing within ten (10) calendar days. We will determine whether an error occurred within ten (10) business days after we hear from you and we will correct any error promptly.
- If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or question.
- If we decide to do this, we will credit your account within ten (10) business days for the amount you think is in error, so that you will have the use of the funds during the time it takes us to complete our investigation.
- If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not credit your account.
We will tell you the results within three (3) business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.
- If a notice of error involves an electronic fund transfer that occurred within thirty (30) days after the first deposit to the account was made, the applicable time periods for action shall be twenty (20) business days in place of ten (10) business days.
- If a notice of error involves an electronic fund transfer that was initiated in a foreign country or occurred within thirty (30) days after the first deposit to the account was made, the applicable time period for action shall be ninety (90) calendar days in place of forty five (45) calendar days
Enforcement
You agree to be liable to the DuTrac Community Credit Union for any liability, loss, or expense as provided in this Agreement that the DuTrac Community Credit Union incurs as a result of any dispute involving your accounts or services. You authorize the DuTrac Community Credit Union to deduct any such liability, loss, or expense from your account without prior notice to you. In the event either party brings a legal action to enforce the Agreement or collect any overdrawn funds on accounts accessed under this Agreement, the prevailing party shall be entitled, subject to applicable law, to payment by the other party of its reasonable attorney's fees and costs, including fees on any appeal, bankruptcy proceedings, and any post-judgment collection actions, if applicable.
Governing Law
This Agreement shall be governed by and construed in accordance with all applicable federal laws and all applicable substantive laws of the {state} where you opened your account, and the Bylaws of the Credit Union as they now exist or may be hereafter amended. You understand that we must comply with these laws, regulations, and rules. You agree that if there is any inconsistency between the terms of the Agreement and any applicable law, regulation, or rule, the terms of this Agreement will prevail to the extent any such law, regulation, or rule may be modified by agreement between us.
Certificate of Insurance
Level Term Life Insurance
$3,000 Coverage Maximum
DUTRAC COMMUNITY CREDIT UNION
014-0164-0
CUNA MUTUAL GROUP
CUNA Mutual Insurance Society
PO Box 391 - 5910 Mineral Point Road
Madison, WI 53701-0391
Phone: 800-356-2644
We are the CUNA Mutual Insurance Society of Madison, Wisconsin
We have issued a Group Policy of Life Insurance to your Credit Union
You are the MEMBER of the Credit Union who holds this Certificate.
THIS CERTIFICATE IS A SUMMARY of the Key Terms of the Group Policy. In the event of a contest, the actual terms of the Group Policy will prevail. For more details, you may inspect the Group Policy at the Credit Union during their business hours.
DO YOU QUALIFY FOR THIS INSURANCE
Members qualify for insurance under the Group Policy subject to the following rules:
1. You qualify for insurance on a deposit if you are at work on the date you make the deposit subject to the following PRE-EXISTING CONDITION LIMITATION. We won't pay a benefit for the deposit if your death results from an illness or injury for which you received medical advice, consultation or treatment within the 6 month period prior to the date you make the deposit. We won't apply this rule if: (a) you die 6 months or more after the date of the deposit, or (b) your savings balance is $500 or less.
"At work" means you are actively working for pay at your job 20 hours a week or more. If you are off work solely because you are on vacation, layoff or other lack of work, or due to a temporary minor illness or injury, you will be considered "at work".
If you are not at work on the date you make a deposit, you qualify for insurance on the deposit subject to the following PRE-EXISTING CONDITION LIMITATION. We won't pay a benefit for the deposit if your death results from an illness or injury for which you received medical advice, consultation or treatment within the 6 month period prior to the date you make the deposit. We won't apply this rule if: (a) you die 6 months or more after the date of the deposit, or (b) your savings balance is $500 or less.
2. You must be under age 70 on the date you make a deposit. If you misstate your age, your insurance, if any, will be determined by your correct age.
3. You are not insured for more than $3,000 in savings. If the balance of your savings exceeds this amount, you are not insured for the excess. If you have savings in more than one account, the limit applies to the sum of your savings in all you accounts with the Credit Union.
You are not insured for any class of savings which has been excluded from coverage or which is not being reported for coverage by the Credit Union. Please see the Credit Union and the Group Policy for details on which savings are not covered.
HERE ARE THE KEY TERMS OF THE GROUP POLICY:
Who Is Insured - Insurance is on the member whose name appears first on the savings account. Second-named members are not insured. All members who qualify for insurance are included for coverage. You do not need to sign up for your insurance to start. For trust accounts, insurance is on the first-named beneficiary of the trust. However, if there is a written trust agreement on file with the Credit Union stating that the trustee is the true owner of the account, then the trustee is the insured person.
Who Pays The Premium - The Credit Union pays the premium. You pay no direct charge to keep your insurance in force.
Who Do We Pay - If you die while you are insured under the Group Policy, we will pay the proceeds of your insurance to the Credit Union.
Beneficiary - You may name the person to whom you want the proceeds of your insurance paid. See the Credit Union for the form to file. If you do, the Credit Union will pay the proceeds to that person. If no name is on file, the proceeds will go to the same person who gets your savings.
How Much Do We Pay - The amount of your insurance is based on the insured balance of your savings on the date of your death and how old you were on the date of each deposit that makes up that balance as follows:
| If your age on the date of an insured deposit was: | The amount of your insurance is equal to: |
|---|---|
| 0-6 months | 25% of that insured deposit |
| 6 months thru 59 years | 100% of that insured deposit |
| 60 years thru 64 years | 50% of that insured deposit |
| 65 years thru 69 years | 25% of that insured deposit |
| 70 years or older | 0% of that insured deposit |
Please note your insurance is based on your age on the date of each deposit for which you are insured and does not decrease as you grow older. Withdrawal of savings will be on a last-in/first-out basis. The insured portion of your savings balance may not exceed $3,000.
How To File A Claim
All claims are filed by the Credit Union. We need a copy of the death certificate as proof of claim.
The Group Policy Can be Changed
The terms of the Group Policy can be changed without prior notice to you. No change, however, can take away any rights which arose prior to the time the change was made.
The Group Policy Can Be Stopped at any time by either CUNA Mutual or the Credit Union after prior notice is given, one to the other.
Right To Convert
If the Group Policy stops and insurance is not replaced by a new policy with similar coverage, or if you leave the Credit Union, you have the right to convert your insurance under the Group Policy to a permanent policy of your own. If you apply to us for your permanent policy within 31 days after your insurance under the Group Policy stops and pay the premium, we will issue a policy to you without evidence of your insurability for any amount not to exceed your insurance under the Group Policy. If you die during this period, we will pay a claim whether you applied for your permanent policy and paid the premium or not.
The following is added to your Certificate of Insurance:
All insured savings deposited before September 1, 1986 which have remained continuously on deposit without interruption shall continue to be insured subject to: (a) a maximum insured savings limit of $3,000 per member; and (b) all other terms of coverage as provided by the Group Policy. For determining the amount of this insurance, your age on the date of deposit shall be your age on October 1, 1961 or your age on the actual date of deposit, whichever date is later. All outstanding previously uninsured savings balances shall be eligible for coverage as though newly deposited on September 1, 1986.
The following is added to your Certificate of Insurance:
All savings balances of members less than $200 are not insured. Your savings balance would become eligible for coverage when the savings balance reaches $200 or more based on your age on the date the $200 savings balance is attained, provided you qualify for insurance on that date.
You are insured for the following specific class(es) of savings:
Main Share Class S-0 Accounts
In-House Loans
An In-House Loan is a loan that remains with, and is serviced by, DuTrac Community Credit Union for the entire term of the loan. During the life of your loan, if you have questions, we are right here to assist you.
- Local, personal attention to any questions regarding your loan
- Flexible terms - can be amortized anywhere from 10 to 30 years
- Payments can be made weekly, bi-weekly (these two options are a fantastic way to pay off your loan faster, saving you money that would go to interest) or monthly – whatever best meets your needs
- No pre-payment penalties
Fixed Rate Conventional Loan
A loan with a rate that is locked in, which means your Principal and Interest payment remains the same for the entire life of the loan. This is a terrific loan if you are planning on staying in your home long-term or if you are not comfortable with your interest rate eventually adjusting.
3/1, 5/1, 7/1, ARM loan
What is an ARM? “ARM” stands for Adjustable Rate Mortgage. With this type of loan, your rate is locked in for 3, 5, or 7 years and then adjusts once a year thereafter. Your rate can adjust up or down depending on the limits of your loans terms and the position of the market. These loans are great for buyers who want to lock in a low rate for a set number of years. A buyer may choose to refinance (pay off the existing loan with a new loan, especially if the interest rate is lower) at any time to a fixed rate.
Construction Loans
Building a new home? This loan provides a great, money-saving convenience for you! By combining the construction loan with a long-term mortgage loan, you pay only one set of closing costs! Your home must be built within 6 months and you will only be charged interest during the construction period on the amount of money disbursed.
Lot Loans
A Lot Loan helps you purchase the land today that you intend to build a residence on in the future! Your Principle and interest payment are fixed for 3 years. At the end of 3 years the mortgage must be paid in full.
HLPR (Home Loan Payment Relief)
HLPR loan is designed for the first-time homebuyers. This loan restricted to an income that is at or below the area median income. This loan is a 3/1 ARM and generally the loan rate is priced at 1% below the national average for a similar loan. Only 3% down payment is required!
Loan Modification
A loan modification allows members, who already have an existing, owner-occupied First Mortgage with DuTrac Community Credit Union, to modify their fixed or adjustable rate mortgage to a lower rate with extremely reduced closing costs, saving them money now and in the future!
Rentals Loans
We have loans available for the purchase or refinance of a 1-4 family unit, rental property. A Rental Loan requires a 25% down payment and is typically amortized for 25 years with a 5 year balloon. Amortization means that you are paying your mortgage as if you were on a fixed 25 year mortgage, making your payments lower. However, after your 5 year term is up, you are required to pay off mortgage or refinance at that time.
Second/Vacation Home
This program is designed to allow members to purchase or refinance a vacation home or a second home within. The down payment required is as little as 20% with an amortization up to 30 years. The home must be a single family dwelling, including condos.
Secondary Market Loans
These loans do not stay with DuTrac Community Credit Union. Instead, they are owned and serviced by an outside mortgage service company. We work as the “middle man” to help you acquire a home loan that fits your needs!
Fixed Rate Conventional Loan
A loan with a rate that is locked in, which means your Principal and Interest payment remains the same for the entire life of the loan. This is a terrific loan if you are planning on staying in your home long-term or if you are not comfortable with your interest rate eventually adjusting.
Adjustable Rate Mortgage (ARM) Loan
What is an ARM? “ARM” stands for Adjustable Rate Mortgage. With this type of loan, your rate is locked in for 3, 5, or 7 years and then adjusts once a year thereafter. Your rate can adjust up or down depending on the limits of your loans terms and the position of the market. These loans are great for buyers who want to lock in a low rate for a set number of years. A buyer may chose to refinance (pay off the existing loan with a new loan, especially if the interest rate is lower) at any time to a fixed rate.
FHA (Federal Housing Administration) Loans
This is a 15 or 30 year fixed rate loan insured by the Federal Housing Administration and is geared toward providing mortgages to home buyers with as little as 3 1/2% down payment.
| DuTrac Fees | |
|---|---|
| Checking Account Fees | |
| NSF (non-sufficient funds) Fee | $25.00 per check |
| Overdraft Fee | $25.00 + tax per check |
| Stop Payment Fee | $25.00 + tax per request |
| Automatic Overdraft Transfer | $3.00 + tax per transfer or advance |
| Automatic Loan Advance | $3.00 + tax per transfer or advance |
| Check Fee (Relationship Checking) | $.10 each + tax |
| (After first 40 per month at no charge. Does not apply to Value Checking.) |
|
| Check Fee (High Yield Checking) | $.10 each + tax |
| (After first 20 per month at no charge) |
|
| Check Copy | $2.00 + tax per check |
| Check Printing Fee | Prices vary depending on style |
| ATM Fees | |
| ATM Transaction Fees | |
| at DuTrac owned ATM's | No Charge |
| at ATM's not owned by DuTrac and at Point of Sale terminals |
$1.00 + tax* |
| (*first 12 transactions per month at no charge. Eco Plus Account receives free unlimited ATM transactions.) |
|
| Lost Card Replacement | $5.00 |
| Safe Deposit Box Fees | |
| Annual Box Rental | Boxes vary by size and location |
| Lost Key Fee | $5.00 |
| Box Drilling Fee | $175.00 |
| Other Service Fees | |
| Returned Mail Fee | $3.00 |
| Account Research Fee | $15.00 per hour + tax ($15 minimum) |
| Account Balancing Fee | $20.00 per hour + tax (1st 15 min. free) |
| Membership Reopen Fee | $15.00 |
| (Applies to memberships closed in previous 12 months) |
|
| Return Item Fee | $5.00 per occurrence |
| Check Collection Fee | $20.00 + tax per check |
| Unreadable MICR Line Fee | $1.00 per check |
| Domestic Wire Transfers | $15.00 per transfer |
| Foreign Wire Transfers | $40.00 per transfer |
| Money Order Fee | $2.00 each |
| Official Check Fee | $2.00 each |
| Statement History | $1.00 per page |
| Travelers Checks | $1.00 per $100 |
| Fax Fee | $1.00 per page |
| Copy Fee | $.10 per page |
| Inactive Relationship Fee | $15.00 per quarter |
| (Total relationship less than $100 and no activity in previous 12 months. Does not apply to members under age 18 ) |
|
| Check Cashing Fee | $3.00 or 1% of amount |
| Notary Fee | Free to members |
| Signature Guarantee | Free to members |
| Compliance with Garnishments, levies | $40.00 |
| 4/1/2010 |
