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Home Equity Line of Credit Visa Zero Liability Change

Home Equity Line of Credit Visa Zero Liability Change

A change in the Visa® Core Rules revises the circumstances under which you have zero liability for unauthorized electronic fund transfers using a lost or stolen Visa card. Currently, you are held liable for unauthorized use caused by gross negligence. Effective 02/01/2018, you may be held liable for unauthorized use caused by negligence.


Current HELOC Disclosure

If My Card is Lost or Stolen or if an Unauthorized Use Occurs: I agree to notify you immediately if my card is ever lost or stolen or if an unauthorized use may have occurred. The telephone number to call is 800-621-2105, and I agree to follow up the call with notice in writing to you at: Elements Financial Federal Credit Union, P.O. Box 7123, Indianapolis, IN 46207-7123. I also agree to assist you in determining the facts, circumstances and other pertinent information relating to any loss, theft or possible unauthorized use of my card and comply with such procedures as you may require in connection with your investigation, including filing a police report and otherwise assisting in the prosecution of any unauthorized user. I will be liable for any unauthorized use over the Visa Network only if you can prove that I was grossly negligent in my use or handling of my card, or if you can prove that I used the card fraudulently. My liability for unauthorized use on networks other than the Visa Network will not exceed $50.00. In any case, I will not be liable for any unauthorized use that occurs after I notify you of the loss, theft, or unauthorized use.

New HELOC Disclosure effective 2/1/2018

If My Card is Lost or Stolen or if an Unauthorized Use Occurs: I agree to notify you immediately if my card is ever lost or stolen or if an unauthorized use may have occurred. The telephone number to call is 800-621-2105, and I agree to follow up the call with notice in writing to you at: Elements Financial Federal Credit Union, P.O. Box 7123, Indianapolis, IN 46207-7123. I also agree to assist you in determining the facts, circumstances and other pertinent information relating to any loss, theft or possible unauthorized use of my card and comply with such procedures as you may require in connection with your investigation, including filing a police report and otherwise assisting in the prosecution of any unauthorized user. I will be liable for any unauthorized use over the Visa Network only if you can prove that I was negligent in my use or handling of my card, or if you can prove that I used the card fraudulently. My liability for unauthorized use on networks other than the Visa Network will not exceed $50.00. In any case, I will not be liable for any unauthorized use that occurs after I notify you of the loss, theft, or unauthorized use.