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Visa Zero Liability Change

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. Effective 02/01/2018, you may be held liable for unauthorized use caused by negligence.

Details for changes to our debit, health savings account, and home equity line of credit Visa cards is below. 


Current Debit & Health Savings Account Visa Disclosure

We will extend to You the benefits provided by the applicable Visa Zero Liability Policy in effect at the time of any unauthorized or fraudulent use of Your Card. The Zero Liability Policy covers unauthorized and fraudulent Card transactions that are processed over the Visa network. The Zero Liability Policy does NOT apply to PIN transactions that are not processed over the Visa network (or to ATM transactions if applicable). We may not extend the benefits of the Zero Liability Policy to You if We reasonably determine that the unauthorized or fraudulent transaction was caused by gross negligence or fraudulent conduct on Your part. Gross negligence may include, but is not limited to, an unreasonable delay on Your part, in our judgment, in the reporting of the transaction, or Your failure to fulfill Your obligations under this Agreement. In the event the Zero Liability Policy is not applicable, the Timely Notification Limits Liability provision will apply.

New Debit & Health Savings Account Visa Disclosure effective 2/1/2018

We will extend to You the benefits provided by the applicable Visa Zero Liability Policy in effect at the time of any unauthorized or fraudulent use of Your Card. The Zero Liability Policy covers unauthorized and fraudulent Card transactions that are processed over the Visa network. The Zero Liability Policy does NOT apply to PIN transactions that are not processed over the Visa network (or to ATM transactions if applicable). We may not extend the benefits of the Zero Liability Policy to You if We reasonably determine that the unauthorized or fraudulent transaction was caused by negligence or fraudulent conduct on Your part. Negligence may include but is not limited to, an unreasonable delay on Your part, in our judgment, in the reporting of the transaction, or Your failure to fulfill Your obligations under this Agreement. In the event the Zero Liability Policy is not applicable, the Timely Notification Limits Liability provision will apply. 


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 1-800-621-2105, 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 1-800-621-2105, 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.