Billing Rights Summary
In Case of Errors or Questions About Your Loan Account Statement:

If you think your statement is wrong, or if you need more information about a transaction on your statement, write us on a separate sheet at the address shown below as soon as possible. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. You can telephone us, but doing so will not preserve your rights.

In your letter, give us the following information:

  • Your name and account number.
  • The dollar amount of the suspected error.
  • Describe the error and explain, if you can, why you believe there is an error. If you need more information, describe the item you are unsure about.

You do not have to pay any amount in question while we are investigating, but you are still obligated to pay the parts of your bill that are not in question. While we investigate your question, we cannot report you as delinquent or take any action to collect the amount you question.

Special Rule for Credit Card Purchases

If you have a problem with the quality of goods or services that you purchased with a credit card, and you have tried in good faith to correct the problem with the merchant, you may not have to pay the remaining amount due on the goods or services. You have this protection only when the purchase price was more than $50 and the purchase was made in your home state or within 100 miles of your mailing address. (If we own or operate the merchant, or if we mailed you the advertisement for the property or services, all purchases are covered regardless of amount or location of purchase).


Balance Used to Calculate the Finance Charge

The FINANCE CHARGE is calculated on the daily principal balance for each loan or line of credit account. The daily principal balance is the amount remaining after any new loan advances are added and any credits or payments are subtracted. The principal balance does not include any accrued FINANCE CHARGES, late payment charges or insurance premiums. For each day a principal balance is outstanding during the statement period, the applicable daily periodic rate is multiplied by the principal balance. Each daily rate is based on a 365 day year, so it equals the ANNUAL PERCENTAGE RATE divided by 365. For each loan or line of credit account, we add the sum of the daily FINANCE CHARGE amounts during the statement period. This is the total FINANCE CHARGE. If the loan account is subject to a variable rate and the rate has changed, the Credit Union will adjust the ANNUAL PERCENTAGE RATE on the first day of each month.

Error Resolution Notice
In Case of Errors or Questions About Your Electronic Transfers

Telephone us or write us at the telephone number or address shown below as soon as you can if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. You should also call the number or write to the address listed below if you believe a transfer has been made using information from your check without your permission. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared.
1. Tell us your name and account number.
2. Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information
3. Tell us the dollar amount of the suspected error.

We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error so that you will have the use of the money during the time it takes us to complete our investigation.

Documentation of Direct Deposit

If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call us at the telephone number shown below to find out whether or not the deposit has been made. If the only possible transfers to or from your account are direct deposits or preauthorized deposits, you will get a least a quarterly statement from us.

 
TELEPHONE US AT:
877-MERIWEST (877-637-4937)
 
OR WRITE US AT:
Attn: Staff Assistant
P.O. Box 530953
San Jose, CA  95153-5353