Policies

Privacy Policy

FACTS WHAT DOES MIAMI FIREFIGHTERS FEDERAL CREDIT UNION DO WITH YOUR PERSONAL INFORMATION?
Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all of the sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand Miami Firefighters Federal Credit Union’s Privacy Policy.
What?

The types of personal information we collect and share depend on the product or service you have with us. This information can include:

  • Social Security Number and Account Balances
  • Credit history and Credit Card or other debt
  • Transaction History and Checking Account information

When you are no longer a member, we continue to share your information as described in this notice.

How? All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Miami Firefighters Federal Credit Union chooses to share; and whether you can limit this sharing.
Reasons we can share your personal information Does Miami Firefighters Federal Credit Union share? Can you limit this sharing?
For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or to report to credit bureaus Yes No
For our marketing purposes – to offer our products and services to you Yes No
For joint marketing with other financial companies Yes No
For our affiliates’ everyday business purposes –
Information about your transactions and experiences
No We don’t share
For our affiliates’ everyday business purposes –
information about your creditworthiness
No We don’t share
For affiliates to market to you No We don’t share
For nonaffiliates to market to you No We don’t share
Questions? Call 305.324.4004 or go to www.mffcu.org
Who We Are
Who is providing this notice? Miami Firefighters Federal Credit Union
What we do
How does Miami Firefighters Federal Credit Union protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.
We also maintain physical, electronic and procedural safeguards to protect your information and we limit access to information to those employees for whom access is appropriate.
How does Miami Firefighters Federal Credit Union collect my personal information?

We collect your personal information, for example, when you

  • open an account
  • apply for a loan
  • use your credit or debit card
  • make deposits or withdrawals
  • give us your contact information

We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.

Why can’t I limit all sharing?

Federal law gives you the right to limit only

  • sharing for affiliates’ everyday business purposes – information about your creditworthiness
  • affiliates from using your information to market to you
  • sharing for non-affiliates to market to you

State law and individual companies may give you additional rights to limit sharing.

Definitions
Affiliates

Companies related by common ownership or control. They can be financial and non-financial companies.

  • Our affiliate is Miami Firefighters Insurance, LLC.
Nonaffiliates

Companies not related by common ownership or control. They can be financial and non-financial companies.

  • Nonaffiliates we share with can include insurance companies, companies which perform marketing services on our behalf and companies which process transactions that you request or authorize.
Joint marketing

A formal agreement between non-affiliated financial companies that together market financial products or services to you.

  • Our joint marketing partners include Insurance companies and mortgage service companies.

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Funds Availability Policy

The Expedited Funds Availability (EFA) Act sets forth requirements for the minimum amount of a check deposit that must be available for withdrawal by the following business day. An amendment to the EFA Act provides that this minimum amount must be increased from $100 to $200. Effective July 21, 2011, it will be our policy to make $200 from check deposits available to you on the next business day after the day of the deposit and the remaining funds available on the second business day after your deposit.

RESERVATION OF RIGHT TO HOLD – In some cases, we will not make all of the funds that you deposit by check available to you on the next business day after we receive your deposit. Funds may not be available until the second business day after the day of your deposit.

However, the first $200 of your deposit will be available on the first business day after the day of your deposit.

If we are not going to make all of the funds from your deposit available on the next business day, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees or if we decide to take this action after you have left the premises, we will mail you the notice by the next
business day after we receive your deposit.

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Dormant Account Policy

DORMANT ACCOUNT POLICY
Effective May 1, 2010

Inactive Accounts – If your Share Savings Account falls below the $5.00 minimum balance required for membership, and you have not increased the balance to the required minimum within six (6) months of the date the balance fell below the required balance, you may be terminated from membership. If you have not made a withdrawal from, deposit to, or transfer involving your Share Savings Account or Share Draft Account for more than one (1) year, and we are unable to contact you during that period, the Credit Union may classify your account as a dormant account. The Credit Union may charge a service fee for continuing to maintain your dormant account as set forth on the Share Account Rate and Fee Schedule. The Credit Union will notify you, as required by law, at your last known address prior to imposing any fee. You authorize the Credit Union to transfer funds from another account of yours to cover any service fees, if applicable. To the extent allowed by law, the Credit Union reserves the right to transfer the dormant account funds to an account payable and to suspend any further account statements. If your account remains dormant — and the Credit Union has had no sufficient contact with you – for a period of 5 years following the classification of your account as dormant, the account will be presumed to be abandoned under Florida law. Funds in abandoned accounts shall be reported and remitted in accordance with state law. Once funds have been remitted to the state, the Credit Union has no further liability to you for such funds and if you choose to reclaim such funds, you must apply to the appropriate state agency.

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