A deposit was credited to my account by mistake. Can the credit union freeze the account?

Yes. The credit union may freeze the account to…

A deposit was credited to my account by mistake. Does the credit union have to receive my permission before removing the funds?

 No. If the funds are credited to your…

A friend says that her credit union never places a hold on her deposited checks. My credit union always puts a hold on my checks. Aren't all credit unions supposed to use the same availability schedule?

While all credit unions are subject to the same…

A friend wrote me a check to repay a small debt. The financial institution that the check is drawn on has released the funds, but my credit union is still holding the funds. Can it do this?

Yes. Your credit union may still hold the funds…

A local credit union advertised a free share draft account. I signed up. Now the credit union is charging me for checks/share drafts and for overdrafts. Isn't this misleading?

Under federal laws and regulations, a credit…

About how long does it take for NCUA to complete the Concentration of Facilities Ratio review (or Depository Institution test)?

Most requests can be processed within 30 days.…

After a payment is made, when does the credit union make the additional credit available?

If you are referring to a credit card or other…

After I made a late payment on my credit card, the credit union notified me that it intends to raise my interest rate. Can the credit union do that?

It depends. If your payment is more than 60 days…

After our expansion request is submitted to NCUA, how long will it take to get our request approved?

The total time depends on the complexity of the…

Am I entitled to receive my cancelled checks/share drafts with my credit union statement?

Credit unions are not required by law to return…

Are there different types of reverse mortgage products?

There are two basic types of reverse mortgage…

Are there exceptions to the funds availability (hold) schedule?

Yes. The regulation provides six exceptions that…

Can a credit union charge any interest rate it wants on loans?

The NCUA Board determines the rate of interest…

Can a credit union located in one state make a loan to someone living in a different State?

Yes. Generally, federal credit unions can make…

Can I cancel the credit protection on my credit union loan?

Generally, yes. You should be able to cancel the…

Can I make special payment arrangements on my credit card account?

You will have to contact your financial…

Can I reject a change to my line of credit?

The truth in lending regulations do not require…

Can I reject changes to my credit card account?

It depends. You can reject many types of changes…

Can the credit union apply payments to the “purchase portion” of the account first and then to the cash advance balance?

As of February 22, 2010, there are new…

Can the credit union change my payment due date—say, from the 1st of the month to the 15th of the month?

Yes, your loan agreement may allow the credit…

Can the credit union change the account terms on my credit card account?

There are many types of changes the credit union…

Can the credit union charge a fee for making payments, such as for making a payment over the phone?

It depends. Generally, the Credit CARD Act…

Can the credit union charge a fee if my check/share draft overdraws my account?

The credit union can assess a fee if a check/…

Can the credit union charge a late fee on my credit card?

Yes, if either of the following is true: •…

Can the credit union charge for transferring my IRA to another financial institution?

Yes. The credit union makes these decisions. In…