Business Disclosures

New members are subject to a $7 membership fee and $5 initial Share deposit prior to opening any additional deposit account or entering into any loan agreement. You can find more information about becoming a member below.

Business Debit Mastercard Benefit Guide

ATMs

TCU Members receive free use of AllianceOne and CO-OP ATMs within Indiana. A $2 foreign transaction fee applies to AllianceOne and CO-OP ATMs outside of the state.

Debit Assurance

Debit Assurance applies only to individual debit card transactions. It does not affect recurring debit card transactions (those for which you have set up your debit card as an automatic payment) or purchases made through checks or ACH transactions. Debit Assurance does not approve transactions that will take your account below a negative balance of $500. A fee (or fees) will be charged if your account balance is negative. If you choose not to opt in for Debit Assurance, TCU is required by law to decline transactions when your account balance is insufficient. Standard overdraft/insufficient funds fees still apply if your account balance falls below $0.

Mobile Wallet

Google Pay is a trademark of Google LLC.  Android, Google Pay, and the Google Logo are trademarks of Google LLC. Google Pay works on Android devices running KitKat 4.4 or higher. Apple Pay is a trademark of Apple Inc., registered in the United States and other countries. Apple Pay works with iPhone 6s and Apple Watch. Samsung Pay and the Samsung Pay logo are trademarks of Samsung Electronics Co., Ltd.

Debit Rebate

Earn .50% rebate on any non-pin purchase with your TCU Business Debit Mastercard®. Rebate amounts must be redeemed within 3 calendar years of the year they were earned. Eligible purchases do not include ATM transactions or those made using a personal identification number (PIN). Redeemed rebate amount may be subject to tax liability.

Rebate Redemption: Rebates may be redeemed any time. Rebates may be redeemed by logging into TCU Online Banking, visiting the nearest service center location or by sending a written request to:

Teachers Credit Union
Member Services Department
P.O. Box 1395
South Bend, Indiana 46624-1392

Services Included and Associated Fees (where applicable):

  • Online Banking
  • Business Debit Card
  • Business Debit Card Rebate
  • Mobile eDeposit (Mobile RDC)
  • Online Bill Payment:
    • First 25 items complimentary
    • 25¢ for each item over 25
  • Business Bill Payment:
    • $10 per month after the first 3 months
    • 1- 20 items free
    • 21 or more items $1 per item
  • Electronic ACH Origination:
    • $14.95 per month
    • First 25 items complimentary
    • 15¢ for each item over 25
    • TCU items FREE
  • $0 monthly fee for all balances
  • Deposited Items:
    • First 50 items complimentary
    • 25¢ for each item deposited over 50
  • Cleared Items:
    • First 50 items complimentary
    • 25¢ for each item cleared over 50
  • Minimum Opening Balance:
    • $100
  • Remote Deposit Capture (RDC):**
    • $50 per month
  • Positive Pay:
    • $39.95 per month
    • Other fees may apply

Other fees may apply.

**Please Note: Businesses must utilize compatible scanner for RDC.

Services Included and Associated Fees (where applicable):

  • Online Banking
  • Business Debit Card
  • Business Debit Card Rebate
  • Mobile eDeposit (Mobile RDC)
  • Online Bill Payment:
    • First 25 items complimentary
    • 25¢ for each item over 25
  • Business Bill Payment:
    • $10 per month after the first 3 months
    • 1- 20 items free
    • 21 or more items $1 per item
  • Electronic ACH Origination:
    • $24.95 per month
    • First 25 items complimentary
    • 15¢ for each item over 25
    • TCU items FREE
  • Monthly fee:
    • $0 for balances of $10,000 and over
    • $20 for balances less than $10,000
  • Deposited Items:
    • First 125 items complimentary
    • 25¢ for each item deposited over 125
  • Cleared Items:
    • First 250 items complimentary
    • 25¢ for each item cleared over 250
  • Minimum Opening Balance:
    • $100
  • Remote Deposit Capture (RDC):**
    • $50 per month
  • Positive Pay:
    • $39.95 per month
    • Other fees may apply

Other fees may apply.

**Please Note: Businesses must utilize compatible scanner for RDC.

Services Included and Associated Fees (where applicable):

  • Online Banking
  • Business Debit Card
  • Business Debit Card Rebate
  • Mobile eDeposit (Mobile RDC)
  • Online Bill Payment:
    • First 25 items complimentary
    • 25¢ for each item over 25
  • Business Bill Payment:
    • $10 per month after the first 3 months
    • 1- 20 items free
    • 21 or more items $1 per item
  • Electronic ACH Origination:
    • $24.95 per month
    • First 25 items complimentary
    • 15¢ for each item over 25
    • TCU items FREE
  • Monthly fee:
    • $0 for balances of $100,000 and over
    • $20 for balances less than $100,000
  • Deposited Items:
    • First 250 items complimentary
    • 25¢ for each item deposited over 250
  • Cleared Items:
    • First 500 items complimentary
    • 25¢ for each item cleared over 500
  • Minimum Opening Balance:
    • $100,000
  • Remote Deposit Capture (RDC):**
    • $50 per month
  • Positive Pay:
    • $39.95 per month
    • Other fees may apply

Other fees may apply.

**Please Note: Businesses must utilize compatible scanner for RDC.

Interest Rate and Interest Charges TCU* Visa® Commercial Rewards Credit Card Account
Annual Percentage Rate (APR) for Purchases

14.24% based on your creditworthiness.
This APR will vary with the market based on a Prime Rate.a

APR for Balance Transfers from another financial institutiond

14.24% based on your creditworthiness.
This APR will vary with the market based on a Prime Rate.
a

APR for Cash Advances

24.24% based on your creditworthiness.
This APR will vary with the market based on a Prime Rate.b

Penalty APR and When It Applies

If you haven’t made a payment sixty five (65) days or more after the due date, we may apply a 29.49%
This penalty rate will apply to both existing and new transactions and will continue indefinitely until you make six (6) consecutive minimum payments by the due date. Once you make six (6) consecutive minimum payments by the due date, we will discontinue the penalty rate and return your rate to the current calculated rate. This current rate will apply to all existing and new transactions.

How Long Will the Penalty APR Apply?: If your APRs are increased for any of these reasons, the Penalty APR will apply until you make six consecutive minimum payments when due and do not exceed your credit limit during that time period.

Paying Interest Your due date is at least 25 days after the close of each billing cycle. We will begin charging interest on Purchases, Balance Transfers and Cash Advances on the transaction date. To avoid incurring interest charges, for new purchase transactions, you must pay the new balance which includes purchases, balance transfers and cash advances, as shown on the Account Statement, on or before the payment due date.
Minimum Interest Charge If you are charged interest, the charge will be no less than 2.00%.
For Credit Card Tips from the Consumer Financial Protection Bureau To learn more about the factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at: Consumerfinance.gov/learnmore

Fees

Annual Fee
None
Balance Transfer Fee $5 or 5% per transaction, whichever is greater

Other Fees

 
Late Fees IN - $25.00c, MI - greater of $15.00 or 5% of the minimum payment
Return Payment Fee $25.00
Expedited Delivery Fee Up to $26.00
Stop Payment Fee
(for balance transfer checks and convenience checks)
$18.00
Cash Advance Fee 4%
Overlimit Fee $25 at 101%
Foreign Transaction Fee 2% each transaction

How We Calculate Your Balance. We use a method called “average daily balance (including new purchases).
Prime Rate. Variable APRs are based on the 3.25% Prime Rate as of 4/1/20.

*Must be a member of Teachers Credit Union to be eligible to apply for the Credit Card. Membership fee, to open a Member Share (savings) account is  $7.00 membership fee and $5.00 minimum Share deposit is required.

a. We add 10.99% based on your creditworthiness to the current Prime Rate to determine the Purchase APR or Balance Transfer APR.
b. We add 20.99% based on your creditworthiness to the current Prime Rate to determine the Cash Advance APR.
c. You will pay a $25.00 late fee or the maximum allowed by law pursuant to Indiana Code §§ 24-4.5-3-203.5 at the time you exercise your remedies under this contract if a payment is received more than 10 days after it is due. MI-greater of $15.00 or 5% of the minimum payment.
d. Balance Transfers from another Teachers Credit Union loan account, including THE Card Home Equity Loan, are not permitted on the TCU Visa® Commercial Rewards Credit Card.

Billing Rights. Information on your rights to dispute transactions and how to exercise those rights is provided in your Account Agreement.

Important Information for Rewards Cardholders. You may earn Reward points on your Net Purchase Transactions, which is the amount of your Purchase transactions, less any purchase refunds. Reward points are not earned on Cash Advance, Fees or Balance Transfer transactions. The accrued Reward points will be shown on your monthly billing statement. The Reward points will be available to redeem via by calling 800-552-4745 and follow the prompts. All Rewards will expire four (4) years from the end of the calendar year, in which they are earned on a first-in, first-out basis. Reward points may not be available to all cardholders. We may revoke your Reward points, at any time, if you exceed your credit limit, become delinquent, are in default of your Agreement, or close your Account. Teachers Credit Union reserves the right to change the Reward points program at any time.

See your TCU Visa Commercial Rewards Credit Card Disclosure for more details.

202009-1550

TCU Visa Business and Commercial Rewards Disclosure

TCU Visa Business Rewards Credit Cards

Account Agreement

Rates, Fees, Terms and Conditions

TCU Visa Commercial Rewards Credit Cards

Account Agreement

Small Business Checking

  • $14.95/mo
    • First 25 items included
    • 15¢ for each item over 25

TCU Business Checking & Commercial Plus Checking

  •  $24.95/mo
    • First 25 items included
    • 15¢ for each item over 25

The fee for Positive Pay for any TCU business checking account is $39.95 per month with $15 per exception.

The fee for RDC for any TCU business checking account is $50 per month. Businesses must utilize compatible scanner for RDC.

For any TCU business checking account

  • First 25 items included
  • 25¢ for each item over 25.

New members are subject to a $7 membership fee (waived for members ages 17 and under) and $5 initial Share deposit prior to opening any additional deposit account or entering into any loan agreement.

ID Verification
To open your initial account and establish membership, you will be asked to provide basic documentation to verify your name, address, birth date and Social Security number. We will not be able to open your account or establish membership without proper verification. Once your identity has been verified, you won't have to re-verify it to open additional accounts in the future. However, we may ask you to provide a photo ID when conducting certain transactions at a Service Center.

We accept any of the following valid (non-expired) forms of ID:*

  • State Driver’s License
  • State-issued identification card
  • Military ID (due to government regulation Military ID's cannot be scanned or copied)
  • US Passport
  • Alien Registration Card Form I-551 (Green Card)
  • Foreign Passport with a VISA and approved I-94
  • Employment Authorization Document (EAD) Form I-766

We can accept alternate forms of ID if you do not have any of the above. Please consult a Team Member at your nearest TCU Service Center, or contact Member Services at (800) 522-4745 for more information. 

* We cannot accept matricula cards, work or student IDs for verification purposes, but they can be used as a photo ID when conducting transactions at the Service Center.


Minor Accounts
You will be asked to provide proper identification for the minor child for whom you are opening an account. In addition to providing the child's Social Security number, you will be asked to provide one of the following current (non-expired) forms of identification:

  • Birth Certificate
  • State-Issued ID card
  • School-Issued ID card

As the adult relative, you will be listed as an owner on a minor account, even though the child will be listed as the primary owner. You don’t have to be a current TCU member to open an account for a minor child.


Commercial or Business ID
All authorized signors and beneficial owners must be properly identified using items from the list of acceptable documents listed above, or TWO items from the list of acceptable alternative IDs. In addition, TWO of the following documents are required in order to verify the existence of the business:

  • Certificate of Existence
  • Retail Merchant Certificate
  • Professional License
  • Certificate of Incorporation or Organization
  • Corporate Resolution
  • Retail Business License
  • Retail Installment Sales Number

Please note that we will also perform a business entity name search on the in.gov website.