ABOUT US  

Northeast Oklahoma Federal Credit Union is a not-for-profit and member owned financial institution.  The difference between the Credit Union and a bank is simple.  The difference is membership; excess earnings are returned to our members in the form of better service, lower interest rates for loans, higher yields on savings and investment accounts, and by adding new financial products and services.  You are invited to take part of the many benefits of Credit Union Membership. 

STATISTICS
as of 06/30/2008

Membership: 7,330
Total Assets: $49,307,564.19
Total Loans: $20,096,394.27
Total Shares: $43,811,142.38

HOW TO JOIN THE CREDIT UNION

To become a member you open a share account with a deposit of $25.00.  When you become a shareholder you are eligible to take advantage of the many benefits of membership of  NEO Federal Credit Union.  Call us for the details and information! 
 (918) 542-6673 - Miami          

(918) 341-0100 - Claremore

Check 21 Speeds Checking,     Sinks Your Float

To make check processing faster, federal law permits banks to replace original checks with "substitute checks" these checks are similar in size to original checks with a slightly reduced image of the front and back of the original check.  The front of a substitute check states: This is a legal copy of your check.  You can us it the same way you would use the original check."  You may use a substitute check as proof of payment just like the original check.

Some or all of the checks that you receive back from us may be substitute checks.  This notice describes rights you have when you receive substitute checks from us.  The rights in this notice do not apply to original checks or electronic debits to your account.  However, you have right under other law with respect to those transactions.

What are your rights regarding substitute checks?

In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check).  The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees).  The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less.  You also are entitled to dividends on the amount of your refund if  your account is a dividend-bearing account.  If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law.

If you use this procedure, you may receive up to $2,500 of your refund (plus dividends if your account earned dividends within 10 business days after we received your claim and the remainder of your refund (plus dividends if your account earns dividends) not later than 45 calendar days after we received your claim.

We may reverse the refund (including any dividend on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account.  

USA PATRIOT ACT

Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account or a new service.  These new procedures are designed to prevent crimes, such as identify theft and account fraud that terrorist use to finance their operations against the United States and it's citizens.  These extra security precautions help the government fight the funding of terrorism and money laundering activities.

HERE IS WHAT NEO FCU IS DOING:

When an account is opened, we will ask to see your driver's license or other identifying government issued documents.  This required verification might be inconvenient for some but a strong deterrent for terrorist and their criminals.  We will only use this information for purposes of complying with the law.  Your privacy is our top concern and we will respect and protect it.  This is one way we can fight the war on terrorism.  Thanks for your cooperation.

How do you make a claim for a refund?

If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please write to us at the address listed on your statement.  You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, which ever is later.  We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances.

Your claim must include:

• A description of why you have suffered a loss (for example, you think the amount withdrawn was incorrect);
• An estimate of the amount of your loss;
• An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss; and
• A copy of the substitute check or information to help us identify the substitute check, for example the check number, the name of the person to whom you wrote the check, and the amount of the check.