Electronic Funds Transfer Agreement and Disclosure
This Electronic Funds Transfer Agreement is the contract which covers your and our rights and responsibilities concerning the electronic funds transfer ("EFT") services offered to you by United 1st Federal Credit Union ("Credit Union"). In this agreement, the words "you" and "yours" mean those who signed the application or account card as applicants, joint owners, or any authorized users. The words "we", "us", and "our" mean the credit union. The word "account" means any one or more share (savings) and share draft (checking) accounts you have with the Credit Union. Electronic funds transfers are electronically initiated transfers of money from your account through the electronic funds transfer services described below. By signing an application or account card for EFT services, signing your card, or using any service, each of you, jointly and severally, agree to the terms and conditions in this agreement and any amendments for the EFT services offered.
CU Online Electronic/PC EFT'S.
If we approve the CU Online electronic/PC access for your accounts, a separate PASSWORD will be assigned to you. You must use your PASSWORD along with your account number to access your accounts. At the present time, you may use the CU Online access service to:
Withdraw funds from you share (savings) and share draft (checking) accounts.
Transfer funds from your share (savings) and share draft (checking) accounts.
Make loan payments from your share (savings) and share draft (checking) accounts.
Access your Open End Line account.
Your accounts can be accessed under the CU Online electronic/PC access service via personal computer.
CU Online service will be available for your convenience twenty-four (24) hours per day. This service may be interrupted for a sort time each day for data processing. We reserve the right to refuse any transaction which would draw upon insufficient funds, exceed a credit limit, lower an account below required balance, or otherwise require us to increase our required reserve on the account. All checks are payable to you as a primary member and will be mailed to your address of record. We may set other limits on the amount of any transaction, and you will be notified of these limits. We may refuse to honor any transaction for which you do not have sufficient available verified funds. The service will discontinue if no transaction is entered after numerous unsuccessful attempts to enter a transaction, and there may be limits on the duration of each access.
There is no limit to the number of inquiries, transfers, or withdrawal requests you make in any one-day.
The maximum withdrawal or transfer amount is $1000.00 per transaction, and no transfer or withdrawal may exceed the available funds in your account.
See transfer limitations below for transfer limitations that may apply to these transactions.
Security of Access Code.
You may use one or more access codes with your electronic funds transfers. The access codes issued to you are for your security purposes. Any codes issued to you are confidential and should not be disclosed to third parties or recorded on or with any card issued. You are responsible for safekeeping your access codes.
You agree not to disclose or otherwise make your access codes available to anyone not authorized to sign on your accounts. If you authorize anyone to use your access codes, that authority shall continue until you specifically revoke such authority by notifying the Credit Union. You understand that any joint owner you authorize to use an access code may withdraw or transfer funds from any of your accounts. If you fail to maintain the security of these access codes and the Credit Union suffers a loss, we may terminate your EFT services immediately.
Fees and Charges.
Tell us at once if you believe your card has been lost or stolen or if you believe someone has used your card or access code or otherwise accessed your accounts without your authority. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (Plus your maximum overdraft line of credit). If a transaction was made with your card or card number without your permission, and was either a VISA or interlink transaction; you will have no liability for the transaction, unless you were grossly negligent in the handling of your account or card. For all other EFT transactions, including ATM transactions, or if you were grossly negligent in the handling of your account or card, your liability for an unauthorized transaction is determined as follows: