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Signature Membership Terms & Conditions

The finer points of Signature Membership.

Signature Membership Terms & Conditions

Signature Membership is available to all Wescom members age 18 and over. Youth Accounts are not eligible for Signature Membership. You must be a member in good standing with the Credit Union and keep at least $1.00 in your Regular Share Account to be eligible. Accounts are reviewed regularly to determine continued eligibility for Signature Membership. Members can advance at any time during the calendar year unless they are no longer a member in good standing or have less than $1.00 in their Regular Share Account. Once attained, Signature Membership is good through December 31 of any given year and is reviewed at that time to ascertain continued eligibility.

Signature Membership benefits will be reviewed on an annual basis. We reserve the right to modify the terms and conditions of Signature Membership at any time. Certain terms and restrictions apply. Signature Membership is achieved for individual accounts. Members with multiple accounts must achieve Signature Membership for each account.

Overdraft Transfer Fees subject to reimbursement will be reimbursed by close of business on the day the fee is assessed. Non-Wescom ATM Fee Waivers only apply to fees assessed by Wescom; you may still be charged fees by the terminal owner.

Bonus on Checking Accounts

The bonus is available for Platinum Signature Members. Eligibility for the bonus continues as long as Platinum Signature Membership is maintained, based on annual evaluation. The bonus is applied to the Annual Percentage Rate (APR) beginning the first of the month after you achieve Platinum Signature Membership. The loss of the bonus is retroactive to the first day of the month in which you no longer qualify for Signature Membership.

Bonus on Money Market Accounts

Eligibility for the bonus is based on Signature Membership level. Eligibility for the bonus continues as long as Signature Membership is maintained, based on annual evaluation. The bonus is applied to the Annual Percentage Rate (APR) beginning the first of the month after you achieve Signature Membership or Platinum Signature Membership. The loss of the bonus is retroactive to the first day of the month in which you no longer qualify for Signature Membership.

Bonus for New and Renewing Certificates

Existing Members: Eligibility for the bonus is based on Signature Membership level. For members who opened a new Certificate prior to July 1, 2012, eligibility and amount of the bonus is based on their Signature Membership level at the time of Certificate opening. The amount of the bonus will not change if their Signature Membership level advances during the Certificate's original term. However, existing members who open a new Certificate or have an existing Certificate renewing as of July 1, 2012, will receive an increased bonus as they advance through Signature Membership, based on a monthly evaluation on the last calendar day of the month.

New Members: Effective January 1, 2015, the Platinum Signature Membership Annual Percentage Yield (APY) Bonus will apply at the time of Certificate opening. The bonus will continue as long as the Platinum Signature Membership level is attained by the end of the 90 days grace period (last calendar day of the month following the date the Certificate was opened). If Platinum Signature Membership is not attained by the end of the 90 day grace period, the bonus will adjust to reflect the rate available at the time of Certificate opening.

All Members: The bonus is applied to the Annual Percentage Yield (APY). If a member becomes ineligible for the bonus, the bonus will be suspended and will not be reinstated during the calendar year. The loss of the bonus is retroactive to the first day of the month in which the member no longer qualifies for Signature Membership.

Rate Discounts on New Auto Loans

Effective on January 1, 2015, the Platinum Signature Membership Annual Percentage Rate (APR) Discount will apply at the time of loan origination for new loans originated on or after January 1, 2015. The discount will continue as long as the Platinum Signature Membership level is attained by the end of the 90 days grace period (last calendar day of the month following the date the loan was originated). For Auto Loans funded prior to January 1, 2015, please refer to your Federal Disclosure Statement, Note and Security Agreement for discount details. If a member becomes ineligible for the discount, the discount will be removed at the time of account review and the APR will increase by the amount of the Signature Membership discount.

Closing Cost Discount

Eligibility for a closing cost discount is based on Signature Membership level at time of loan origination plus the points the member would achieve with the new loan. The amount of the discount is based on Signature Membership level at the time of loan origination. The discount is valid when a member refinances a mortgage loan from another lender to Wescom. It is not valid for refinances on an existing Wescom mortgage. Contributions towards borrower's closing costs from third parties including the lender credit cannot exceed maximum limits established by the loan program for which the borrower qualifies.

Skip-a-Pay

If you take advantage of Skip-A-Pay, your loan(s) will continue to accrue interest during that time. Deferring your loan payment will extend the term of your loan(s); you always have the option of making additional or larger payments in the future to pay down your loan faster. Real Estate loans are not eligible for Skip-A-Pay. Other terms and restrictions apply. Please ask for details.

Courtesy Pay

Wescom's Courtesy Pay Program allows the Credit Union to automatically pay member checks, ACH debits, debit card transactions (if opted in) and BillPayer transactions presented for payment against non-sufficient funds. Courtesy Pay is not a guaranteed overdraft line. The Credit Union is under no obligation to pay any items that would cause an overdraft balance but retains the right to do so at our sole discretion. The fee for Courtesy Pay is the same as NSF items returned as disclosed in our Schedule of Fees and Charges. However, through Signature Membership, Platinum Signature Members may receive up to two Fee Waivers per year and Signature Members may receive one Fee Waiver per year. After an account has been overdrawn for 14 consecutive days, no further overdrafts will be paid. Furthermore, if an account is overdrawn for 30 consecutive days, that account may be charged off and the member expelled from the Credit Union. Use of Courtesy Pay is subject to additional terms and restrictions. Please visit wescom.org for more information about Wescom's Courtesy Pay Program and other prerequisites for qualification.