Account Restrictions

UNFCU is a not-for-profit financial cooperative established under, and fully subject to the laws and regulations of the United States, including but not limited to, laws and regulations governing US economic sanctions towards various countries.

The operation of accounts for members located in countries subject to US economic sanctions is regulated by the US Treasury Department. These sanctions and regulations, among other things, prohibit and restrict account services and transactions, and are subject to change without notice. At the present time, countries subject to US economic sanctions affecting credit union type accounts, include: Cuba, Iran, Burma (Myanmar), Syria and Sudan. Currently, the operation of accounts (1) for accountholders who are citizens of Cuba, (2) for accountholders who are in or reside in Cuba, Iran, Syria or Burma (Myanmar); and 3) those doing business within Sudan or certain Sudanese banks including, but not limited to any commercial transactions benefitting the government of Sudan may be subject to restrictions by the US Treasury Department.

Please be aware that UNFCU, under authorization from the US Treasury Department, is only permitted to operate accounts for actively employed UN staff stationed in Cuba, Iran, and for Cuban citizens who are stationed in the United States. Our authorization covers UN staff stationed in Syria and family members and retired UN staff. The majority of the existing sanctions against residents in Burma (Myanmar) have been relaxed and most financial services, with minor restrictions, are covered by several general licenses issued by the US Treasury Department. In the event you become separated from active UN duty and still remain in countries subject to US sanctions or you become separated from active UN duty and are a Cuban citizen, or you are a Cuban citizen and become stationed outside the United States or Cuba during your employment with the UN, your account with UNFCU will be subject to restriction and will require further authorization from the US Treasury Department. UNFCU closely monitors changes in US Treasury Department laws and regulations and interacts with the US Treasury Department in order to procure required authorizations in an attempt to avoid service disruption for our members.

What this means to you

What this means to you

When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

As of 1 October 2003, US federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.