Which document must credit unions provide when a member establishes their account?

When a member establishes their account with a credit union, it is essential for the institution to provide the initial billing rights statement. This document outlines the member's rights regarding credit billing, including information on the responsibilities of both the credit union and the member, how to dispute billing errors, and other pertinent details concerning the credit agreement.

Providing this statement is a regulatory requirement, ensuring that members are informed about their rights and obligations from the outset of their relationship with the credit union. This is crucial for fostering transparency and trust, as well as for helping members manage their accounts responsibly.

Other documents mentioned, such as an identity verification checklist, loan approval summary, or annual member survey, do not hold the same importance at the account establishment phase and are either not required or are relevant to different contexts within the member's relationship with the credit union.