Terms & Conditions

These Terms and Conditions ("Terms") govern your relationship with Cyprus Union Savings Bank ("CUSB," "we," "our," or "us"), a licensed credit institution incorporated under the laws of the Republic of Cyprus and supervised by the Central Bank of Cyprus (CBC) and the European Banking Authority (EBA). By opening an account, applying for a loan, or using any CUSB product or service, you agree to be bound by these Terms.

1. Acceptance of Terms

By accessing or using any Cyprus Union Savings Bank product, service, website, or mobile application, you confirm that you have read, understood, and agreed to these Terms and Conditions in their entirety. If you do not agree with any part of these Terms, you must discontinue use of our services immediately.

These Terms, together with any applicable account disclosures, rate schedules, fee schedules, and product-specific agreements, constitute the entire agreement between you and CUSB. In the event of a conflict, product-specific agreements shall control over these general Terms.

2. Membership Eligibility

Membership in Cyprus Union Savings Bank is limited to individuals and entities within our field of membership as defined in our charter. To become a member, you must:

• Meet one or more field of membership criteria (residence, employment, worship, or education within our service area, or be an immediate family member of an existing member);
• Be at least 18 years of age, or have a parent or legal guardian as a joint account holder;
• Provide valid government-issued identification and a Social Security Number or Individual Taxpayer Identification Number (ITIN);
• Open and maintain a Primary Share (Savings) account with a minimum balance of $5.00; and
• Not have been previously expelled from membership for cause.

CUSB reserves the right to verify your identity, conduct background checks as permitted by law, and decline membership applications at its sole discretion. Membership is a privilege, not a right, and may be revoked for violation of these Terms or applicable law.

3. Account Terms

All accounts are subject to the terms of the applicable Account Agreement and Disclosure provided at account opening and available upon request. Key provisions include:

• Ownership: Accounts may be individual, joint, or held in trust. Each account owner is jointly and severally liable for all obligations.
• Minimum Balances: Minimum balance requirements vary by account type. Failure to maintain required minimums may result in fees or account closure.
• Dormant Accounts: Accounts with no member-initiated activity for 12 consecutive months may be classified as dormant. Dormant accounts may be subject to a monthly inactivity fee. After 3 years of inactivity, unclaimed funds may be transferred to the Republic of Cyprus Treasury as required by applicable law.
• Account Closure: We reserve the right to close any account with 30 days' written notice, or immediately if required by law or for cause including suspected fraudulent activity, repeated overdrafts, or abusive behavior toward staff.
• Setoff: CUSB has the right of setoff against your accounts to satisfy any debts you owe to the credit union, to the extent permitted by law.

4. Electronic Services

Use of CUSB's online banking portal, mobile application, and other electronic services is subject to our separate Electronic Services Agreement and the following conditions:

• You are responsible for maintaining the security of your login credentials. You must notify us immediately if you suspect unauthorized access.
• You agree to receive electronic disclosures, statements, and notices in lieu of paper, where permitted by law.
• Mobile check deposit is subject to daily and monthly limits as disclosed in the app. We reserve the right to place holds on deposited funds.
• Electronic transfers, including ACH and wire transfers, are subject to the funds availability policy and may be delayed for security verification.
• We are not liable for service interruptions caused by telecommunications failures, third-party systems, power outages, or acts of God.

CUSB employs commercially reasonable security measures including 256-bit encryption and multi-factor authentication. However, no system is completely secure, and we cannot guarantee that unauthorized parties will never access your information.

5. Deposits & Withdrawals

Our Funds Availability Policy governs when deposited funds are available for withdrawal. Key provisions:

• Cash deposits made at a CUSB branch or ATM are generally available immediately or by the next business day.
• Check deposits are subject to holds as disclosed in our Funds Availability Policy. Holds may be extended for new members, large deposits, repeatedly overdrawn accounts, or when we have reason to doubt collectibility.
• Direct deposits and electronic transfers from other institutions are typically available on the same business day received.
• Wire transfers received before 3:00 PM Pacific Time on a business day are generally available that day.

Withdrawals from savings accounts may be limited under federal regulations. Excessive transactions may result in account conversion, fees, or closure.

6. Loan Terms

All loan products are subject to credit approval, applicable underwriting standards, and the terms of the specific Loan Agreement executed at closing. By accepting a loan from CUSB, you agree to:

• Repay the principal, interest, and any applicable fees according to the payment schedule in your Loan Agreement;
• Maintain required insurance coverage on any secured collateral (vehicle, real property, etc.);
• Notify us promptly of any changes to your contact information, employment, or financial condition that may affect your ability to repay;
• Grant us a security interest in the collateral identified in your Loan Agreement;
• Comply with all terms of any escrow arrangement for mortgage loans.

Delinquent payments may be reported to credit reporting agencies. Loans in default may be subject to acceleration, collection action, and repossession or foreclosure of secured property as permitted by law. We encourage members experiencing financial hardship to contact us proactively — we offer payment modification and hardship assistance programs.

7. Fees & Charges

Fees for account services, transactions, and other products are disclosed in our current Schedule of Fees and Charges, available at any branch, on our website, and included with your account opening documents. We reserve the right to:

• Modify fees upon 30 days' written notice to affected members;
• Waive fees at our discretion in individual circumstances;
• Charge fees for returned items, stop payments, wire transfers, statement copies, and other services as disclosed.

8. Limitation of Liability

To the maximum extent permitted by applicable law, CUSB's liability to you for any claim arising out of or related to your account or services shall be limited to the amount of actual direct damages you sustain, not to exceed the balance in the affected account. CUSB shall not be liable for:

• Indirect, incidental, consequential, special, or punitive damages;
• Losses resulting from your failure to safeguard your account credentials;
• Losses resulting from third-party fraud or identity theft not caused by our negligence;
• Service interruptions beyond our reasonable control; or
• Errors or omissions in third-party data, including credit reporting agencies.

9. Privacy

Your privacy is important to us. Our collection, use, and protection of your personal information is governed by our Privacy Policy, which is incorporated herein by reference. We comply with the General Data Protection Regulation (GDPR), the Cyprus Data Protection Law (Law 125(I)/2018), and all other applicable EU and Cypriot privacy laws. We do not sell your personal information to third parties.

10. Dispute Resolution

We encourage you to contact us first to resolve any dispute informally. If informal resolution fails, disputes shall be resolved as follows:

• NCUA Mediation: You may contact the NCUA at 1-800-755-1030 or ncua.gov for assistance with unresolved disputes.
• Arbitration: Except for claims eligible for small claims court, any dispute that cannot be resolved informally shall be submitted to binding arbitration under the rules of the American Arbitration Association (AAA). Class action waivers apply.
• Governing Law: Any disputes shall be resolved in the competent courts of Nicosia, Cyprus, in accordance with Cypriot law.

Nothing in this section waives your right to file a complaint with applicable regulatory agencies including the Central Bank of Cyprus (CBC), the Cyprus Commissioner for Personal Data Protection, or the European Banking Authority (EBA).

11. Amendments

CUSB reserves the right to amend these Terms at any time. Material changes will be communicated to you at least 30 days in advance via email, secure message through online banking, statement insert, or notice posted at branch locations. Your continued use of CUSB products and services after the effective date of any amendment constitutes your acceptance of the modified Terms.

12. Governing Law

These Terms and all related agreements shall be governed by and construed in accordance with the laws of the Republic of Cyprus and applicable European Union law, without regard to conflict of law principles. Cyprus Union Savings Bank is a licensed credit institution regulated by the Central Bank of Cyprus (CBC) and subject to EU banking regulations including the Capital Requirements Directive (CRD IV) and relevant EBA guidelines.

13. Contact Information

For questions about these Terms and Conditions, please contact us:

• Mail: Cyprus Union Savings Bank, Legal Department, 1 Makarios III Avenue, Nicosia 1065, Cyprus
• Phone: +357 22 880 100 (Monday–Friday, 8:30AM–4:30PM EET)
• Email: [email protected]
• Online: cusavings.com /contact