TABLE OF CONTENTS
MEMBERSHIP AND ACCOUNTS
1 Membership Eligibility
2. Important Procedures for Opening a New Account
3. Individual Accounts
4. Joint Accounts
5. POD Beneficiaries
6. Accounts for Minors
7. Accounts for Living Trusts
8. Accounts of Businesses and Organizations
9. Deposit Requirements
1 0. Account Access
1 1 Account Rates and Fees
12. Transaction Limitations
1 3. Overdrafts
14. Postdated and Stale dated Items
1 5. Stop Payment Orders
16. Lost Items
1 7. Credit Union's Liability for Errors
1 8. Credit Union Lien and Security Interest
1 9. Legal Process
20. Account Information
21 Notices
22. Taxpayer Identification Numbers (TIN) and Backup Withholding
23. Statements
24 Dormant, Abandoned and Inactive Accounts
25. Death of Account Owner 26 Termination of Account
27. Termination of Membership
28. Special Account Information
29. Severability
30. Enforcement
31 Governing Law
FUNDS AVAILABILITY POLICY
1 General Policy
2. Reservation of Right to Hold
3. Holds on Other Funds
4. Longer Delays May Apply
5. Special Rules for New Accounts
6. Deposits at Nonproprietary ATMs
7. Foreign Checks
Ill. ELECTRONIC FUNDS TRANSFERS
1 . Services
2. Service Limitations
3. Conditions of Card Use
4 Member Liability
5. Business Hours
6. Fees and Charges
7. Right to Receive Documentation Transfers
8. Account Information Disclosure
9. Credit Union Liability for Failure to Make Transfers
1 0. Preauthorized Electronic Fund Transfers
1 1 Termination of Electronic Fund Transfer Services
1 2. Notices
1 3. Billing Error Notices for Electronic Funds Transfer
1 4. ATM Safety Notice
PRIVACY POLICY
MEMBERSHIP AND ACCOUNTS
1 . Membership Eligibility.
To be eligible for membership in the Credit Union you must be an individual or entity qualifying within the Credit Union's field of membership and must purchase and maintain at least five shares as required by the Credit Union's Bylaws. You authorize us to check your account, credit, and employment history, and obtain a credit report from third parties, including credit reporting agencies, to verify your eligibility for the accounts and services you request.
2. Important Information About Procedures for Opening a New Account.
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for 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.
3. Individual Accounts.
An individual account is an account owned by one depositor including any individual, corporation, partnership, trust, or other organization qualified for Credit Union membership. If the account is an individual account, the interest of a deceased individual owner will pass, subject to applicable law, to the decedent's estate or payable on death ("POD") beneficiary, if applicable.
4. Joint Accounts.
An account owned by two or more persons is a joint account. Any changes to your account, including adding or removing joint owners will apply to all of the accounts of the Member and shall be documented on an Account Change Card.
a. Riqhts of Survivorship. If your account is a joint account, the account is owned as a joint account with rights of survivorship unless otherwise stated on the Account Card. If the account is a joint account without right of survivorship, the interest of a deceased owner will pass to the decedent's estate. If the account is a joint account with right of survivorship upon the death of one of the joint account owners, that person's interest will become the property of the surviving joint account owners.
b. Riqhts of Joint Account Owners. Any joint account owner is authorized and deemed to act for the other owner(s) and the Credit Union may accept orders and instructions regarding the account and requests for future services from any other account owner. Each account owner guarantees the signature of the other owners. Any account owner may withdraw all funds in the account, stop payment on items drawn on an account, withdraw, or pledge all or any part of the shares of any account, excluding funds representing membership shares, without the consent of the other account owner(s) and the Credit Union shall have no duty to notify any other joint account owner(s). If the Credit Union receives written notice of a dispute between account owners or receives inconsistent instructions from them, the Credit Union may suspend or terminate the account, require a Court order to act or require that all joint account owners agree in writing to any transaction concerning the account.
c. Joint Account Owner Liabilitv. If any item deposited in a joint account is returned unpaid or an account is overdrawn, or if we do not receive final payment on any transaction, each of the multiple account owners is jointly and severally liable to the Credit Union for the amount of the returned item, overdraft, or unpaid amount and any charges, regardless of who created the overdraft, deposited or cashed the item or benefited from the transaction. If any account owner is indebted to the Credit Union, the Credit Union may enforce its rights against any or all funds in the joint account regardless of who contributed the funds to the joint account.
5. POD Beneficiaries.
A Payable on Death (POD) designation is an instruction to the Credit Union that a designated account is an account payable to the owner or owners during their lifetimes, and upon the death of the last joint account owner, payable to any named and surviving POD beneficiary designated on your Account Card. Accounts payable to more than one POD beneficiary are owned jointly by such beneficiaries with right of survivorship. Any POD beneficiary designated shall not apply to IRA accounts which shall be governed by a separate beneficiary designation. The Credit Union shall at no time have any obligation to notify any beneficiary of the existence of any account or the vesting of the beneficiary's interest in any account, except as otherwise provided by law.
6. Accounts for Minors.
For any account established by or for a minor, the minor account owner must have a parental joint account owner who is at least eighteen (18) years of age who shall be jointly and severally liable to the Credit Union for any returned item, overdraft, or unpaid charges or amounts on such account. For a joint account, all funds in the account shall be owned as a joint account with rights of survivorship unless otherwise indicated on the Account Card. The Credit Union may make payments of funds directly to the minor without regard to his or her minority. Unless guardian is a joint account owner, the guardian shall not have any right to access the account. The Credit Union has no duty to inquire of the use or purpose of any transaction by the minor or joint account owner. The minor account owner's tax identification number must be shown on the Card. The Credit Union shall not change the account status when the minor reaches age eighteen (18), unless authorized in writing by all account owners.
7. Accounts for Living Trusts.
An account of a living trust is an individual account held by one or more trustees of a trust for the benefit of one or more beneficiaries pursuant to a revocable trust agreement. Upon request of the Credit Union, the trustee shall sign an Account Authorization Card and provide any other evidence of the trustee's authority the Credit Union requires. Trustee warrants that a valid living trust has been created, is currently existing, and that the trustor and primary beneficiary are eligible for membership in the Credit Union. The Cred it Union does not act as a trustee and is under no obligation to inquire as to the powers or duties of the trustee(s). Trustee agrees to notify the Credit Union in writing if a change of trustee occurs. Credit Union may withhold payment of funds to any party until proper evidence of authority is provided. Credit Union may rely upon the directions of any one trustee until a written notice of revocation of the living trust or an Account Change form is received. Funds may be released to any one trustee acting alone or with a co-trustee. The trustee(s) agrees to indemnify and hold Credit Union harmless of any liability, claim, damage or loss arising as a result of unauthorized acts of any trustee or former trustee or acts of any trustee upon which Credit Union relies prior to notice of revocation of the trust. This Agreement shall be binding on the trust, any trustee, successor trustee and beneficiaries.
8. Accounts of Businesses and Organizations.
Accounts held in the name of a business or association member are subject to the terms set forth in the Business Services Information brochure.
9. Deposit Requirements.
Funds may be deposited to any account in any manner approved by the Credit Union in accordance with the requirements set forth on the Rate and Fee Schedule. All accounts are nonassignable and nonnegotiable to third parties. Certificate accounts are governed by the terms of this Agreement and the terms and disclosures on your Certificate Account Receipt for each account, which is incorporated herein by this reference. You agree not to deposit any substitute check or similar item that you have created, or for which no financial institution has provided any substitute check warranties and indemnity. If you do so, you agree to indemnify the Credit Union for all losses the Credit Union incurs in connection with the substitute check or item. You agree not to deposit any substitute check without our consent. a. Authorized Siqnature. You understand and agree that your electronic consent is your electronic signature which specifically records your signature and assent to the Membership and Account Agreement and constitutes your agreement to the terms and conditions of the Membership and Account Agreement. You agree your electronic signature captured and stored as an image by this electronic means shall be sufficient to evidence of your assent to be contractually bound by the Agreement and shall constitute a valid signature for purposes of any provision of this Agreement.
b. Endorsements. You authorize the Credit Union, in its discretion, to accept transfers, checks, drafts, and other items for deposit into any of your accounts, whether or not they are endorsed by all payees. You authorize the Credit Union to supply missing endorsements if the Credit Union chooses to supply such endorsements. The Credit Union reserves the right to verify all endorsements on third party checks presented for deposit either in person or by comparison with member signature files. If an insurance, government, and certain other checks or drafts require an endorsement as set forth on the back of the check, the Credit Union may require endorsement as set forth on the check. Endorsement must be placed in the space on the back of the check between the top edge and inches from the top edge. The Credit Union may accept drafts or checks with endorsements outside this space. However, if any such endorsement or other markings you or any prior endorser make on the check cause any delay or error in processing the item for payment, you will be responsible for any loss incurred by the Credit Union due to the delay or error.
c. Collection of Items. The Credit Union shall not be responsible for deposits made by mail or at an unstaffed facility until the Credit Union actually receives them. In handling items for deposit or collection, the Credit Union only acts as your agent and assumes no responsibility beyond the exercise of ordinary care. The Credit Union will not be liable for default or negligence of any correspondent or for loss in transit, and each correspondent will only be liable for its own negligence. The Credit Union reserves the right to send any item for collection
d. Final Pavment. All items or Automated Clearing House ( "ACH") transfers credited to your account are provisional and subject to our receipt of final payment. If final payment is not received, we reserve the right to charge your account for the amount of those items or ACH transfers and impose a return charge on your account. After we have received final payment, we refer to these deposits as collected items. If the Credit Union incurs any fee to collect any item, the Credit Union may charge such fee to your account. The Credit Union reserves the right to refuse or to return all or any item or funds transfer. The Credit Union shall have the right to charge back against your account all previously deposited items or other items endorsed by you that are returned to the Credit Union unpaid, regardless of whether the amount of the item has been available for your use.
e. Direct Deposits. The Credit Union may offer direct deposit options allowing you to preauthorize deposits (i.e., payroll checks, Social Security or retirement checks, or other government checks) or preauthorized transfers from other accounts at the Credit Union. You must authorize any direct deposits to your accounts by a separate authorization form. If applicable, you must notify the Credit Union at least thirty (30) days prior to any direct deposit or preauthorized transfer if you wish to cancel or change the direct deposit or direct transfer option. Upon a filing of a bankruptcy, if you fail to cancel any direct deposit authorization, you instruct your employer and the Credit Union to make and apply direct deposits in accordance with your authorization on file with the Credit Union. If the Credit Union is required to reimburse the U.S. Government for any benefit payment directly deposited into your account for any reason, you agree the Credit Union may deduct the amount returned from any of your accounts, unless prohibited by law.
f. Creditinq of Deposits. Deposits made on Saturdays, Sundays, and Federal holidays will be credited to your account on the next business day. Except deposits made on Saturdays directly with Credit Union staff will be considered to have been made on a business day. Our cutoff times are the same time that we close for business (see Business Hours). Deposits received at night depositories and ATMs will be credited on the day funds are removed and processed by the Credit Union which will be the next business day. For deposits at ATMs, unstaffed facilities, or any other means except in-person deposits made to a Credit Union employee, any credit that we provide before we have removed and processed the deposit is subject to adjustment based on our verification of the items deposited Items drawn from an institution located outside the United States are handled on a collection basis only. Funds will be credited to your account when we receive final payment. You waive any notice of nonpayment, dishonor, or protest regarding any items purchased or received by the Credit Union for credit to your account or for collection.
1 0. Account Access.
a. Authorized Siqnature. In order to access any account, the Credit Union must have an authorized signature of yours on an Account Card. The Credit Union is authorized to recognize your signature, but will not be liable for refusing to honor any item or instruction of yours if it believes in good faith that the signature on such item or instruction is not genuine. If you have authorized the use of a facsimile signature, the Credit Union may honor any draft that appears to bear your facsimile signature even if it was made by an unauthorized person. If you give your account number to a third person, you authorize us to honor transactions initiated by the third person even if you did not specifically authorize a particular transaction.
b. Access Options. You may make withdrawals or transfers from your account in any manner which is permitted by the Credit Union ( i.e., check, automated teller machines ( ATMs), debit card, in person, by mail, automatic transfer, telephone, or internet). The Credit Union accepts any draft that is not drawn on a form provided by the Credit Union, you will be responsible for any loss incurred by the Credit Union for handling the draft. The Credit Union may return as unpaid any check that is not drawn in the form provided by the Credit Union.
c. ACH & Domestic Wire Transfers. If offered, you may initiate or receive credits or debits to your account via wire transfer or ACH ("Automated Clearing House") transfer. You agree that if you receive funds by a wire or ACH transfer, the Credit Union is not required to notify you at the time the funds are received. Instead, the transfer will be shown on your periodic statement. The Credit Union may provisionally credit your account for an ACH transfer before it receives final settlement for the transfer. You agree that if the Credit Union does not receive final settlement for a transfer, it may reverse the provisional credit to your account, or you will refund the amount to the Credit Union. The Credit Union may require that wire transfers be authorized in writing. When you initiate a wire transfer, you may identify either the recipient or any financial institution by name and by account or identifying number. The Credit Union (and other institutions) may rely on the account or other identifying number you give as the proper identification number, even if it identifies a different party or institution. The Credit Union reserves the right to confirm or verify information on all wire requests prior to sending the wire. Once the Credit Union has sent an outgoing wire, the transfer is final and cannot be stopped. If you provide incomplete or inaccurate transfer instructions, written or oral, the Credit Union will not be responsible for any resulting wire transfer losses, delays or failed transactions. You understand international wire transfers may not be completed for up to four weeks or longer. Terms and conditions for international wire transfers will be provided at the time of the transfer transaction. Wire transfers are governed by the Uniform Commercial Code Section 4A, and (if the transfer is cleared through the Federal Reserve) by Federal Reserve Regulation J. International wire transfers are governed by the Bureau of Consumer Financial Protection Regulation E. ACH transactions are governed by the rules of the National Automated Clearing House Association. The origination of ACH transactions to or from the consumer's account must comply with provisions of U.S. Law. You agree that the authorized transfer to/from your account must comply with all applicable federal and state laws or regulations including OFAC ( Office of Foreign Asset Control) regulations.
d. Credit Union Examination. The Credit Union may disregard information on any check other than the signature of the drawer and amount of the item and any magnetic encoded information. You agree the Credit Union does not fail to exercise ordinary care in paying an item solely because its procedures do not provide for sight examination of items.
e. Refusinq Pavment on Items. You agree that we may refuse to pay any check if the person presenting it does not pay a check cashing fee that we may impose or provide identification that satisfies our requirements. We may also refuse to pay any check if we are unable to verify an endorsement to our satisfaction.
f. Electronic Check Transactions.
a. Electronic Checks. If you authorize a merchant to electronically debit your checking account using the routing, account and serial number of your check to initiate the transfer, whether the check is blank, partially or fully completed and signed, such authorization is an electronic check conversion. An electronic check conversion is an electronic funds transfer ("EFT") subject to the terms of Ill. Electronic Funds Transfer Agreement. You authorize us to honor any electronic check conversion from your checking account just the same as a regular written check.
b. Electronic Re-presented Checks. If you write a check on a personal account that we return unpaid because of insufficient or uncollected funds, payee or any subsequent holder of the check may re-present the check to us, through an electronic instruction ("Electronic Re-presented Check") to charge your account for the amount of the check. If we receive an electronic re-presented check, we will pay or return the electronic re-presented check as if the original paper check was presented to us. Any collection fee you authorize the merchant to debit from your account is an electronic funds transfer subject to the terms of Ill. Electronic Funds Transfer Agreement. If you want to reverse an electronic re-presented check, you must give us an affidavit within 15 days after we send or make available to you the periodic statement that reflects payment of that electronic re-presented check. In your affidavit, you must declare and swear under oath that the electronic re-presented check was ineligible or unauthorized. If we receive a proper notice or affidavit from you within the 15 day period, we will recredit your account with the amount of the charge. If you wish to stop payment of any electronic represented check, you must follow the procedures contained in this agreement for stopping payment of checks, not the procedures for stopping payment on electronic loan or bill payments. If you ask us to request the depositor's bank to send us the original paper check or a copy of the paper check, and we provide it to you, you agree that you will not seek to have your account recredited due to a prior stop payment order or if the item is otherwise ineligible for collection.
g. International ACH Transactions. You understand that in the event an International ACH Transaction ("IAT") Entry that is transmitted to or from any of your accounts is identified and designated by the Credit Union's screening criteria for review and examination under the OFAC Rules and Regulations ("OFAC Rules"). The settlement of such an IAT Entry may be delayed or suspended pending the Credit Union's review of the IAT Entry, and may be terminated under applicable OFAC Rules. You acknowledge that we may be required to place an indefinite hold on the funds covered by the IAT Entry if the IAT Entry is required to be terminated under the OFAC Rules. You agree that any delay described above will be a permissible delay under the regulations applicable to the availability of funds held in deposit accounts. In the event an IAT Entry is delayed or terminated, we will provide you such notice as may be required by applicable laws and regulations.
h. Substitute Checks and Your Riqhts.
a. Substitute checks. To make check processing faster, federal law permits financial institution to replace original checks with "substitute checks". These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your checks. You can use it the same way you would use the original check". You may use a substitute check as proof of payment just like the original check. Some or all of the checks that you receive back from us may be substitute checks. This notice describes the rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or electronic debits to your account. However, you have rights under other laws with respect to those transactions.
b. Your Rights Regarding Substitute Checks. In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You are entitled to dividends on the amount of your refund if your account is a dividend bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amount under other laws. If you use this procedure, you may receive up to $2,500 of your refund (plus, dividends if your account earns dividends) within ten (10) business days after we receive your claim and the remainder of your refund (plus dividends, if applicable) not later than forty-five (45) calendar days after we receive your claim.
We may reverse the refund (including any dividends on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account.
c. Refund Claims. If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us by calling 800.950.4536, or writing to us at Central Willamette, PO Box D, Albany OR 97321 . You must contact us within forty (40) calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances. Your claim must include.
• A description of why you have suffered a loss (for example, you think the amount withdrawn was incorrect);
• An estimate of the amount of your loss;
• An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss;
• And a copy of the substitute check
11. Account Rates and Fees.
The Credit Union's payment of interest on any account is subject to the account rates and fees, earnings, payment and balance requirements as set forth on the Rate and Fee Schedule and each Certificate of Deposit Receipt, which are incorporated herein by this reference. You agree the Credit Union may impose fees and charges for the deposit account services provided by the Credit Union. A current Rate and Fee Schedule has been provided to you separately. You agree the Credit Union may change the Rate and Fee Schedule from time to time and you will be notified of such changes as required by law.
12. Transaction Limitations.
a. Withdrawal Restrictions. The Credit Union will permit a withdrawal only if you have sufficient available funds in your account to cover the full amount of the withdrawal or have an established overdraft protection plan. Drafts or other transfer or payment orders which are drawn against insufficient available funds will be subject to a service charge, set forth in the Rate and Fee Schedule. If there are sufficient available funds to cover some but not all of your withdrawal orders, the Credit Union may allow those withdrawals for which there are sufficient available funds.
The Credit Union may also refuse to allow a withdrawal in other cases; for example: any dispute between the owners about the account (unless a court has ordered the Credit Union to allow the withdrawal); a legal garnishment or attachment is served; the account secures an obligation to the Credit Union; any required documentation has not been presented; or you fail to repay a Credit Union loan on time. You will be advised of the reasons for refusal if such action is taken. The Credit Union reserves the right to require members to give notice in writing of any intended withdrawals from any account (except checks) of not less than 7 days and up to 60 days, as required by law, before such withdrawal.
1 3. Overdrafts.
a. General Overdraft Liabilitv. If on any day, the available funds in your checking account are not sufficient to cover checks and other items (ACH, debit card or ATM card transactions) posted to your account, those checks and items will be handled in accordance with our overdraft procedures and the terms of this Agreement. If we pay a check or item that overdraws your account, you are liable for and agree to pay the overdraft amount and an insufficient funds ( NSF) fee immediately. If we do not pay the check or item we will return it unpaid and you agree to pay a return item fee. We reserve the right to pursue collection of previously dishonored items at any time, including giving a payer bank extra time beyond any midnight deadline limits.
b. How We Process Checks. The Credit Union's determination of an insufficient account balance is made at the time the check or item is presented to us, which may be later during the day than the time you conduct the transaction. Overdrafts will be determined based on the available balance in your account at the time of presentment. Your available balance may be lower than your actual balance due to funds held for debit card transactions you have authorized and deposited checks held pursuant to our funds availability policy. Please contact us if you want to know your available balance to avoid an overdraft.
Transactions may not be presented in the order which they occurred and the order in which checks or items are received and processed may affect if an overdraft occurs. The Credit Union processes checks and items as follow: (i) checks and items are paid in the lowest to highest amount order at the time they are presented to us, (ii) ACH items, credits are processed first and ACH debits processed second, and (iii) debit card transactions are paid in the chronological order they are received.
c. Overdraft Protection Plans. If we approve your request for overdraft protection, we will provide an overdraft protection plan for you.
Transfer from Savings. We will honor checks and other items drawn on insufficient fund in your checking account by transferring the necessary funds from a savings account or other deposit account as you designate. If you have enough funds in your savings account, you authorize us to transfer funds in amounts necessary to cover the overdraft. If your savings account balance is insufficient to cover the overdraft amount, we will not make any transfer that overdraws your savings account. Unless another overdraft protection plan applies, we will return the check or item unpaid. There is an overdraft transfer fee for each overdraft transfer as set forth on the Rate and Fee Schedule. You may opt out of the overdraft transfer service at any time by notifying us verbally or in writing.
Transfers from Line of Credit. We will honor checks and other items drawn on insufficient funds in your checking account by transferring the necessary funds from a Line of Credit Account of yours, if applicable unless you designate a different order. If you are within the credit limit of your line of credit account, you authorize us to transfer funds in amounts necessary to cover the overdraft. If your credit limit is insufficient to cover the overdraft amount or has a scheduled payment due, we will not transfer any amount. Unless another overdraft protection plan applies, we will return the check or item unpaid. There is no cash advance fee, but interest will begin to accrue from the date of any advance transfer. There is an overdraft transfer fee for each overdraft transfer as set forth on the Rate and Fee Schedule. You may opt out of this overdraft transfer service at any time by notifying us verbally or in writing.
Courtesy Pay Overdraft Protection Service. We offer a discretionary overdraft service (Courtesy Pay) to cover overdrafts on your checking accounts. The Credit Union offers the Courtesy Pay service to eligible consumer checking account owners who qualify. Courtesy Pay is not offered to minors, fiduciary, or organizational accounts or anyone who has caused a financial loss to the Credit Union, anyone with a past due loan payment at the Credit Union or anyone who has enrolled in a debt management program.
The Credit Union offers Courtesy Pay service for checks, ACH and online transactions to all eligible consumer checking account owners. You must have an open checking share with a positive balance with no account restrictions, no loan delinquency in the last 30 days and checking share cannot have account inactivity for 180 days. The Courtesy Pay service is limited to two (2) checking accounts per member. MyChecking accounts are not eligible.
Courtesy Pay service will be provided for debit card purchase transactions only if you expressly request ("opt-in") Courtesy Pay service for these transactions.
d. Terms & Conditions of Overdraft Protection Service. The Courtesy Pay service will be provided under the following terms and conditions.
Discretionary Service. Under the Courtesy Pay service, we are not obligated to pay any check or item presented for payment if your account does not contain sufficient funds. We may, as a discretionary service and not as a right of yours or our obligation to you, pay overdrafts up to an approved overdraft limit under the terms of this service and subject to this Agreement. This overdraft service is not a line of credit, is not guaranteed, and is independent of any loan arrangement you may have with us. We will not pay an overdraft for you in excess of any limit we have established for your account type. Also, we may refuse to pay an overdraft for you at any time, even if we have previously paid overdrafts for you.
Overdraft Transactions Covered. Subject to the opt-in requirement set forth above, if on any day you do not have available funds in your account, the following transactions, which may result in an insufficient or negative balance ("overdrafts"), may be covered under our service: checks, debit card purchases, online or other electronic funds transfers, ACH debits and other payment or withdrawals authorized by you, account service charges, pre-authorized drafts, and any other items that may be posted to your account. If we pay an item, we will pay the item in the order it is presented or received by us, regardless of amount and in accordance with our normal operating procedures for such checks, items or transactions.
Overdraft Limit/Available Balance. After the account has been open and you meet all qualifications we may pay overdrafts up to a limit of $100.00 ("overdraft limit") for the first 35 days. After the first 35 days we may pay overdrafts up to a limit of $600.00 ("overdraft limit") without an ACH deposit of $300 or greater within the last 35 days or we may pay overdrafts up to a limit of $750 ("overdraft limit") with an ACH deposit of $300 or greater within the last 35 days as you are eligible for this service. The Credit Union's fees and charges and each paid check or item will be included in this limit. This overdraft balance will not be included or reflected in your actual or "available balance" of your account provided by a teller, at ATM or POS facilities, through online service or on your periodic statements.
Notification. We have no obligation to notify you before we pay or return any item.
Overdraft Fees. There is a Courtesy Pay fee for each overdraft check or item we pay as set forth on the Rate and Fee Schedule. If we do not pay the overdraft, there is a Returned Item fee for each check or item we return as set forth on the Rate and Fee Schedule. We may charge a fee each time a check or item is submitted or resubmitted for payment. Therefore, you may be assessed more than one fee as a result of a returned item or any resubmission(s) of the returned item. There is no limit on the amount of overdraft fees that we will charge on any one day. If you have excess overdraft activity we will notify you in writing to consider discontinuing the Service. These fees may be amended as set forth in our Rate and Fee Schedule.
Member Repayment Responsibility. You agree your overdraft balance, including applicable overdraft fees, is due and payable upon demand. If there is more than one owner on an account, all owners are jointly and severally liable for repayment of the overdraft balance. If you fail to repay your overdraft balance within 25 days of notice from us, we may immediately suspend the Courtesy Pay service. Accounts may be closed for failure to repay overdraft balances and we will report account closures to consumer reporting agencies.
Member Opt-Out Right. We offer the Courtesy Pay service as a service and convenience to members for incidental overdrafts. We do not encourage you to repeatedly overdraw your account. We encourage you to manage your finances responsibly. You may opt out of the Courtesy Pay service at any time by notifying us verbally or in writing. We may require that any verbal opt out be confirmed in writing. You understand that by opting out of this service, we may refuse to pay any check or item that is presented against an insufficient balance on your account and you will be responsible for any Returned Item fees. You are still responsible to pay any overdraft, even if you have opted out of the service.
14. Postdated and Stale dated Items.
You authorize us to accept and pay any check, even if the check is presented for payment before its date, unless you notify the Credit Union of the postdating. Your notice will be effective only if the Credit Union receives the notice in time for the Credit Union to notify its employees and reasonably act upon the notice and you accurately describe the check, including the number, date, and amount. You understand that the exact information is necessary for the Credit Union's computer to identify the check. If you give the Credit Union an incorrect, incomplete, or untimely notice, the Credit Union will not be responsible for paying the item before the date stated and the Credit Union may charge your account as of the date the Credit Union pays the item. You may make an oral notice which will lapse within fourteen (14) days unless continued in writing, within that time. A written notice will be effective for six (6) months. A written notice may be renewed in writing from time to time. You also agree not to deposit checks, drafts, or other items before they are properly payable. The Credit Union is under no obligation to you to pay a check or draft drawn on your account which is presented more than six months after its date.
15. Stop Payment Orders.
a. Stop Pavment Request. You may ask the Credit Union to stop payment on any check drawn upon or ACH debit scheduled from your checking or savings account. This does not apply to bill payment items. You may request a stop payment by telephone, by mail or in person. For checks or ACH debits, the stop payment will be effective if the Credit Union receives the order in time for the Credit Union to act upon the order. You must state the number of the account, date and the exact amount of the check or ACH and the number of the check or originator of the ACH debit. If you give the Credit Union incorrect or incomplete information, the Credit Union will not be responsible for failing to stop payment on the item. If the stop payment order is not received in time for the Credit Union to act upon the order, the Credit Union will not be liable to you or to any other party for payment of the item. If we re-credit your account after paying a check over a valid and timely stop payment order, you agree to sign a statement describing the dispute with the payee, to transfer all of your rights against the payee or other holders of the check to the Credit Union, and to assist the Credit Union in legal action taken against the person.
b. Duration of Order. For checks you may make an oral stop payment order which will lapse within fourteen (14) calendar days unless continued in writing within that time. A written stop payment order will be effective for six (6) months. A written stop payment order may be renewed in writing from time to time. The Credit Union is not obligated to notify you when a stop payment order expires. For ACH debits your stop payment is permanent unless otherwise specified in writing or revoked.
c. Liabilitv. The Credit Union may charge a fee for each stop payment order requested, as set forth on the Rate and Fee Schedule. You may not stop payment on any certified check or draft, cashier's check or teller's check, or any other check, draft, or payment guaranteed by the Credit Union. You should be aware that while payment of the item may be stopped, you may remain liable to any person, including the Credit Union, who is a holder of the item despite the stop payment order.
You agree to indemnify and hold the Credit Union harmless from all costs, including attorney fees, damages or claims related to the Credit Union's action in refusing payment of an item, including claims of any multiple party account owner, payee, or endorsee in failing to stop payment of an item as a result of incorrect information provided by you.
1 6. Lost Items.
The Credit Union, in receiving items from you for withdrawal or deposit, acts only as your agent and reserves the right to reverse the credit for any deposited items or to charge your account for the items should they become lost in the collection process.
17. Credit Union's Liability for Errors.
If the Credit Union does not properly complete a transaction according to this Agreement, the Credit Union will be liable for your losses or damages not to exceed the amount of the transaction, except as otherwise provided by law. The Credit Union will not be liable if: (a) through no fault of the Credit Union, your account does not contain enough money to make the transaction; (b) circumstances beyond the Credit Union's control prevents the transaction; (c) your loss is caused by your negligence or the negligence of another financial institution; or (d) the money in your account is subject to legal process or other claim. The Credit Union will not be liable for consequential damages except liability for wrongful dishonor. The Credit Union's actions will constitute the exercise of ordinary care if such actions or nonactions are consistent with applicable state law, Federal Reserve regulations and operating letters, clearing house rules, and general banking practices followed in the area serviced by the Credit Union. You grant the Credit Union the right, in making payments of deposited funds, to rely exclusively on the form of the account and the terms of this Account Agreement. Any conflict between oral representations by you or Credit Union employees and any written form will be resolved by reference to this Agreement and applicable written form.
18. Credit Union Lien and Security Interest.
To the extent you owe the Credit Union money as a borrower, guarantor, endorser or otherwise, the Credit Union has a lien on any or all of the funds in any account in which you have an ownership interest at the Credit Union, regardless of the source of the funds. The Credit Union may apply these funds in any order to pay off your indebtedness. If the Credit Union chooses not to enforce its lien, the Credit Union does not waive its right to enforce the lien at a later time. In addition, you grant the Credit Union a consensual security interest in your accounts and agree the Credit Union may use the funds from your accounts to pay any debt or amount owed the Credit Union, except obligations secured by your dwelling, unless prohibited by applicable law. All accounts are nonassignable and nontransferable to third parties.
1 9. Legal Process.
If any legal action, such as a levy, garnishment, or attachment, is brought against your account, the Credit Union may refuse to pay out any money from your account until the dispute is resolved. If the Credit Union incurs any expenses or attorney fees in responding to legal process, such expenses may be charged against your account without prior notice to you, unless prohibited by law. Any legal process against your account is subject to the Credit Union's lien and security interest.
20. Account Information.
Upon your request, the Credit Union will inform you of the name and address of each credit reporting agency from which the Credit Union obtains a credit report in connection with your account. The Credit Union agrees not to disclose information to third parties about your account regarding any transaction or balances except when: (1) it is necessary to complete the transaction; (2) the third party seeks to verify the existence or condition of your account in accordance with Federal Credit Reporting Act or other applicable laws and regulations;
(3) such disclosure is in compliance with the law, government agencies or court orders; or (4) you give us written permission.
21 . Notices.
a. Name or Address Chanqes. It is your responsibility to notify the Credit Union upon a change of address or change of name. The Credit Union is only required to attempt to communicate with you only at the most recent address you have provided to the Credit Union. The Credit Union will accept notices of a change in address and any other notice from you to the Credit Union only if provided in writing to the Credit Union. If the Credit Union attempts to locate you, the Credit Union may impose a service fee as set forth on the Rate and Fee Schedule.
b. Notice of Amendments. Except as otherwise prohibited by applicable law, the terms of this Agreement are subject to change at any time. The Credit Union will notify you of any changes in account terms, rates, or fees as required by law. Changes in account ownership such as adding or removing a joint account owner, must be evidenced by a signed Account Change Card which, upon execution, will be incorporated herein by this reference. The Credit Union reserves the right to waive any term in this Agreement. Any such waiver shall not affect the Credit Union's right to enforce any right in the future.
c. Effect of Notice. Any written notice you give to the Credit Union is effective when it is actually received by the Credit Union. Any written notice the Credit Union gives to you is effective when it is deposited in the U.S. Mail, postage prepaid and addressed to you at your statement mailing address. Notice to any one account owner is considered notice to all owners of the account.
d. Neqative Information Notice. We may report information about your loan, share or deposit accounts to credit bureaus. Late payments, missed payments, or other defaults on your accounts may be reflected in your credit report.
22. Taxpayer Identification Numbers (TIN) and Backup Withholding.
If your account is or becomes subject to backup withholding, the Credit Union is required by law to withhold and pay to the Internal Revenue Service (IRS) a required percentage of payments of interest, dividends and certain other payments under certain conditions. Your failure to furnish a correct taxpayer identification number ( TIN) or meet other applicable requirements may result in backup withholding as well as civil or criminal penalties. If you refuse to provide your TIN, the Credit Union may suspend the opening of your account.
23. Statements.
a. Contents. If the Credit Union provides a statement for your account, you will receive a periodic statement of all transactions and activity on your account during the statement period. If a periodic statement is provided you agree that only one statement is necessary for a multiple party account. For checking accounts, you understand that when paid, your original check (or any substitute check) becomes property of the Credit Union and may not be returned to you. You agree to keep a copy or carbon copy of your original check in order to verify its validity. If you request us to provide you with an original check or sufficient copy, you agree that we may provide an electronic image of the original check or sufficient copy if you have ag reed to receive account information or statements electronically. You understand statements and checks are made available to you on the date the statement is mailed to you.
b. Examination. You are responsible for examining each statement reporting any irregularities to the Credit Union. The Credit Union will not be responsible for any forged, altered, or unauthorized items drawn on your account if (1 ) you fail to notify the Credit Union within thirty (30) days of the mailing date of the earliest statement and availability of checks containing any forgery, alteration, or unauthorized signature on the item; or (2) any items forged or altered in a manner not detectable by a reasonable person including the unauthorized use of a facsimile signature machine.
c. Notice to Credit Union. You agree that the Credit Union's retention of drafts does not alter or waive your responsibility to examine your statements and draft copies or the time limit for notifying the Credit Union of any errors. The statement will be considered correct for all purposes and the Credit Union will not be liable for any payment made or charged to your account unless you notify the Credit Union in writing within the above time limit after the statement and checks are made available to you.
d. Electronic Statements (E-Statements). If your statement is provided electronically, statements will be electronically mailed to you as an attachment, or you will be sent an electronic mail notice that will direct you to the website where you may access, review, print and otherwise copy/download your periodic statements using procedures we authorize. Electronic mails from us will be sent to the electronic mail address provided by the account owner.
24. Dormant, Abandoned and Inactive Accounts.
If you have a checking account with a balance less than $250 that you have not made written a check or conducted a withdrawal or transfer from or deposit to your account for more than six (6) months, the Credit Union may classify your account as an inactive account and impose an inactive account fee as set forth on the Rate and Fee Schedule.
For all other accounts, if you have an account with a balance less than $100 that you have not made a withdrawal from, deposit to, or transfer involving your account for more than one (1) year and the Credit Union has been unable to contact you by regular mail during that period, the Credit Union may classify your account as an inactive account and impose an inactive account fee as set forth on the Rate and Fee Schedule.
If you have an account that you have not made a withdrawal from, deposit to, or transfer involving your account for more than two (2) years and the Credit Union has been unable to contact you by regular mail during that period, the Credit Union may classify your account as a dormant account. Thereafter, interest will not be paid on the account if the balance falls below any minimum balance requirement. If a deposit or withdrawal has not been made on the account or the Credit Union has had no other contact with you for three (3) years as required by the Uniform Unclaimed Property Act, the account will be presumed to be abandoned. Funds in abandoned accounts will be remitted in accordance with state law. Once funds have been turned over to the state, the Credit Union has no further liability to you for such funds and if you choose to reclaim such funds, you must apply to the appropriate state agency.
25. Death of Account Owner.
The Credit Union may require the survivor or other claimant to the account to produce certain documents before releasing the funds in the account. The Credit Union may continue to honor transfers, withdrawals, deposits and other transactions on the account until the Credit Union learns of an account owner's death. Once the Credit Union learns of a member's death, the Credit Union may pay checks or honor other payments or transfer orders authorized by the deceased member for a period of ten (10) days unless the Credit Union receives instructions from any person claiming an interest in the account to stop payment on the checks or other items. You agree that the Credit Union can require that anyone who claims funds in your account after your death to indemnify the Credit Union for any losses resulting from honoring that claim.
26. Termination of Account.
The Credit Union may terminate your account at any time without notice to you or may require you to close your account and apply for a new account if (1 ) there is a change in owners or authorized signers; (2) there has been a forgery or fraud reported or committed involving your account; (3) there is a dispute as to the ownership of the funds in the account; (4) any account checks are lost or stolen; (5) if there are excessive returned unpaid items not covered by an overdraft protection plan; or (6) if there has been any misrepresentation or any other abuse of any of your accounts. You may terminate your account at any time by notifying the Credit Union by oral direction or in writing. The Credit Union is not responsible for payment of any check, withdrawal, or other item once your account is terminated; however, if the Credit Union pays a check after termination, you agree to reimburse the Credit Union for payment.
27. Termination of Membership.
You may terminate your membership at the Credit Union after giving written notice of your intent to withdraw from membership. You may be denied services or expelled from membership for any reason allowed by applicable law, including causing a loss to the Credit Union.
28. Special Account Instructions.
You may request the Credit Union to facilitate certain trust, will, or court-ordered account arrangements. However, because the Credit Union does not give legal advice, we cannot counsel you as to which account arrangement most appropriately meets the specific requirements of your trust, will, or court order. If you ask the Credit Union to follow instructions that the Credit Union believes might expose it to claims, suits, lawsuits, expenses, liabilities, or damages, whether directly or indirectly, the Credit Union may refuse to follow your instructions or may require you to post a bond to indemnify the Credit Union. Any item presented with a full payment legend must be presented in person to a Credit Union officer; otherwise, payment is accepted with full reservation of rights. Account changes requested by you, or any account owner, such as adding or closing an account or service, must be evidenced by a signed Account Card and accepted by the Credit Union. The Credit Union will not recognize the authority of someone to whom you have given power of attorney without written authorization and a copy of the Power of Attorney on record at the Credit Union.
29. Severability.
In the event that any paragraph of this Agreement or any portion thereof is held by a court to be invalid or unenforceable for any reason, the other paragraphs and portions of this Agreement shall not be invalid or unenforceable and will continue in full force and effect.
30. Enforcement.
You agree to be liable to the Credit Union for any liability, loss, or expense as provided in this Agreement that the Credit Union incurs as a result of any dispute involving your accounts or services. You authorize the Credit Union to deduct any such liability, loss, or expense from your account without prior notice to you. In the event either party brings a legal action to enforce the Agreement or collect any overdrawn funds on accounts accessed under this Agreement, the prevailing party shall be entitled, subject to applicable law, to payment by the other party of its reasonable attorney's fees and costs, including fees on any appeal, bankruptcy proceedings, and any post judgment collection actions, if applicable.
31. Governing Law.
This Agreement is governed by the Bylaws of the Credit Union, federal laws and regulations, the laws and regulations of the
State of Oregon and local clearinghouse rules, as amended from time to time. Any disputes regarding this Agreement shall be subject to the jurisdiction of the court of the county in which the Credit Union is located
FUNDS AVAILABILITY POLICY
1 . General Policy.
Our policy is to generally make funds from your deposits available to you on the same business day that we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once they are available, you can withdraw the funds in cash and we will use the funds to pay checks you have written. For determining the availability of your deposits, every day is a business day, except Sundays, and Federal holidays. Excluded are deposits made at any Automated Teller Machines ( ATMs) and our night depositories on Saturdays. If you make a deposit directly with Credit Union staff before the close of business on a business day that we are open, we will consider that day to be the day of the deposit. However, if you make the deposit after the close of business on a day that we are open or make the deposit on a day that we are not open, we will consider that the deposit was made on the next business day we are open. Deposits placed in one of our night depository after 8:00 am on a business day are not considered available until the following business day, unless in accordance with the provisions outlined in other sections of this policy an additional hold is deemed necessary.
2. Reservation of Right to Hold.
In some cases, we will not make all of the funds that you deposit by check available to you on the same business day that we receive your deposit. Depending on the type of check that you deposit, funds may not be available until the second business day after the day of your deposit. However, the first $225.00 of the aggregate amount of your deposit(s) will be available on the same day as your deposit(s). If we are not going to make all of the funds from your deposit available on the same business day as your deposit, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your deposit. The first $225.00 of the aggregate amount of your deposit(s) (cash or checks) made at ATMs will be available on the same day as your deposit(s). The remaining funds will be available on the second business day following the deposit, unless in accordance with the provisions outlined in other sections of this policy an additional hold is deemed necessary.
3. Holds on Other Funds.
If we cash a check for you that is drawn on another financial institution, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it. If we accept for deposit a check that is drawn on another financial institution, we may make the funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited are met.
4. Longer Delays May Apply.
We may delay your ability to withdraw funds deposited by check into your account an additional number of days for these reasons:
a. We believe a check you deposited will not be paid.
b. You deposit checks totaling more than $5,525 on any one day.
c. You deposit a check that has been returned unpaid.
d. You have overdrawn your account repeatedly in the last six months.
e. There is an emergency, such as a failure of communications or computer equipment.
We will notify you if we delay your ability to withdraw funds for any of these reasons, and tell you when the funds will be available. They will generally be available no later than the seventh business day after the day of your deposit.
5. Special Rules for New Accounts.
If you are a new member, the following special rules will apply during the first 30 days your account is open:
Funds from electronic deposits, cash, and wire transfers into your account will be available on the day we receive the deposit. The first $5,525 of a day's total deposits of cashiers, certified, teller's, traveler's, and federal, state, and local government checks will be available on the next business day after the day of your deposit, if the check is payable to you. The excess over $5,525 will be available on the ninth business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,525 will not be available until the second business day after the day of your deposit. Funds from all other check deposits will be available on the ninth business day after the day of your deposit.
6. Deposits at Nonproprietary ATMs.
Funds from any deposits (cash or checks) made at ATMs we do not own or operate may not be available until the fifth business day after the date of your deposit.
This rule does not apply to ATMs that we own or operate. All ATMs that we own or operate are identified as our machines.
7. Foreign Checks.
Checks and items drawn on financial institutions (including U.S. branches in foreign countries) and deposited to your account will be given provisional credit, but may be delayed until collected and all processing fees are paid by you.
ELECTRONIC FUNDS TRANSFERS
By signing the Account Card or signing or using the Debit Card or ATM Card, you agree to the following terms governing your and our rights and responsibilities concerning consumer purpose electronic funds transfer services, as applicable. Terms and conditions set forth elsewhere in this Agreement shall also apply to your electronic funds transfer service. Electronic funds transfers ("EFT s") are electronically initiated transfers of money through direct deposits, automated teller machines ("ATMs"), audio response transactions, Mobile deposit services involving your consumer deposit accounts at the Credit Union, and debit card purchases.
1. Services.
a. Electronic Check Transactions. You authorize us to honor any electronic check conversion transaction and represented check fee debit transactions you authorize ("electronic check transactions"). You agree that your authorization for an electronic check transaction occurs when you initiate such a transaction after receiving any notice regarding the merchant's right to process the transaction, including any written sign provided by the merchant at the time of your transaction. All terms governing electronic funds transfer services will apply to electronic check transactions, except the $50 and $500 limits of liability for unauthorized transaction in Section 4. Member Liability. You remain responsible for notifying us of any unauthorized electronic check transaction shown on your statement.
b. Automatic Teller Machines (ATMS). If you use an ATM that is not operated by us, you may be charged an ATM surcharge by the ATM operator or an ATM network utilized for such a transaction. The ATM surcharge will be debited from your account if you elect to complete the transactions. You may use your Debit card, ATM Card, and you're Personal Identification Number ("PIN") in automated teller machines of the Credit Union, and such other machines we may designate. At the present time, you may use your Card to make the following transactions on your accounts:
Withdraw cash from your checking or savings accounts, personal line of credit (if approved).
Transfer funds between your checking, savings, or line of credit (personal) accounts to checking or savings.
Deposit funds to your checking or savings accounts.
Make balance inquiries on checking or savings accounts.
C. Debit Card/POS Purchases. You may use your Debit Card, or ATM Card to purchase goods and services any place your Card is honored by participating merchants, including Point of Sale (POS) terminals. Funds to cover your Card purchases will be deducted from your checking account. If the balance in your account is not sufficient to pay the transaction amount, the Credit Union may treat the transaction as an overdraft request pursuant to the overdraft protection plan or may terminate all services under the Agreement.
d. CU Online Service
(1) Account Access. If we approve your application for the CU Online Service, you may use your personal computer to access your accounts. You must use your access code along with your account number to access your accounts. The CU Online service is accessible 7 days a week, 24 hours a day. You will need a personal computer and direct dial modem or access to the Internet (World Wide Web). You are responsible for the installation, maintenance and operation of your computer. The Credit Union will not be responsible for any errors or failures involving any telephone service or your computer.
(2) Tvpes of Transactions. At the present time, you may use the CU Online service to:
• Transfer funds between your accounts.
• Review account balance, transaction history, and tax information for any of your accounts.
• Review information on your loan accounts including payoff amounts, due dates, finance charges, interest rate, and balance information.
• Communicate with the Credit Union using the electronic mail (E-mail) feature.
• Transaction involving your deposit accounts, including checking account stop payment requests, will be subject to the terms of your Membership and Account Agreement. Transactions involving loan accounts will be subject to the applicable Loan Agreement.
Direct Deposit. Upon instruction of (i) your employer or (ii) the Treasury Department or (iii) other financial Institutions, the Credit Union will accept direct deposits of your paycheck or of Federal recurring payments, such as Social Security.
f. Preauthorized Debits. You may make direct withdrawals from your account to a particular person or company at least periodically which you have arranged with that person or company, provided you have enough funds in your account to cover the payment.
2. Service Limitations.
a. Automatic Teller Machines (ATMs).
(1) Withdrawals. There is no limit on the number of withdrawals you may make at Credit Union ATMs and nonproprietary ATMs, however, you may be charged a fee as set forth on the Fee Schedule. You may withdraw up to $500 (if there are sufficient funds in your account) per day at any authorized ATM, subject to limits placed on each individual ATM. Should you wish to increase this withdrawal limit you may request the Credit Union increase the amount, such requests are subject to credit review and qualifications. Daily withdrawal limits will range from $100.00 to $1 ,000.00. You will be notified of your withdrawal limit at the time the card is issued
(2) Transfers. You may transfer between your savings and checking accounts up to the balance in your accounts at the time of the transfer at available locations.
b. Debit Card/POS Purchases. There is no limit on the number of debit card or POS purchase transactions you may make during a statement period. No purchase may exceed the available funds in your account. The Credit Union reserves the right to refuse any transaction which would draw upon insufficient funds, lower an account below a required balance, or otherwise require us to increase our required reserve on the account. The Credit Union may set other limits on the amount of any transaction, and you will be notified of those limits. The Credit Union may refuse to honor any transaction for which you do not have sufficient available verified funds.
c. CU Online Service Limitations. The following limitations on online banking transactions may apply:
(1) Transfers. You may make funds transfers to your other accounts as often as you like. You may transfer or withdraw up to the available balance in your account or up to the available credit limit on a line of credit at the time of the transfer, except as limited under this Agreement or your deposit or loan agreements.
(2) Account Information. The account balance and transaction history information may be limited to recent account information involving your accounts. Also, the availability of funds for transfer or withdrawal may be limited due to the processing time for any ATM deposit transactions and our Funds Availability Policy.
(3) E-Mail. You may use the e-mail to send messages to us. E-mail may not, however, be used to initiate a transfer on your account or a stop payment request. The Credit Union may not immediately receive E-mail communications that you send and the Credit Union will not take action based on E-mail requests until the Credit Union actually receives your message and has a reasonable opportunity to act. If you need to contact the Credit Union immediately regarding an unauthorized transaction or stop payment request, you may call the Credit Union at the telephone number set forth in Section 4.
(4) Connection. Your online banking connection will disconnect after a set time. You will be notified before disconnection and adoption will appear to stay connected. If disconnected, you must reconnect.
(5) Right of Refusal. The Credit Union reserves the right to refuse any transaction that would draw upon insufficient or unavailable funds, lower an account below a required balance, or otherwise require us to increase our required reserve on the account. The Credit Union may set other limits on the amount of any transaction and you will be notified of those limits.
3. Conditions of Card Use.
The use of your Card and Account are subject to the following conditions:
a. Ownership of Cards. Any Card or other device which we supply to you is our property and must be returned to us, or to any person whom we authorize to act as our agent, or to any person who is authorized to honor the Card, immediately according to instructions. The Card may be repossessed at any time in our sole discretion without demand or notice. You cannot transfer your Card or Account to another person.
b. Honorinq the Card. Neither we nor merchants authorized to honor the Card will be responsible for the failure or refusal to honor the Card or any other device we supply to you. If a merchant agrees to give you a refund or adjustment, you agree to accept a credit to your Account in lieu of a cash refund.
c. Securitv of Personal Identification Number (PIN). The ATM-PIN and audio response access code issued to you is for your security purposes. The numbers are confidential and should not be disclosed to third parties or recorded on or with the Card. You are responsible for safekeeping of your Access code. You agree not to disclose or otherwise make your access code available to anyone not authorized to sign on your accounts. If you authorize anyone to use your access code that authority shall continue until you specifically revoke such authority by notifying the Credit Union. If you fail to maintain the security of these access codes and the Credit Union suffers a loss we may terminate your ATM and account services immediately.
d. Illeqal Use of Internet Gamblinq. You agree that all transactions that you initiate by use of your VISA Check Card are legal in the jurisdiction where you live and/or where the transaction occurred. Internet gambling may be illegal in the jurisdiction in which you are located, including the United States. Your VISA Check Card may only be used for legal transactions. Display of a payment card logo by an online merchant does not mean that internet gambling transactions are lawful in all jurisdictions in which you may be located. We have restricted all online gambling transactions with the VISA Check Card.
e. International Exchanqe Rate Determination for Debit/ATM Cards. Purchase transactions and cash advances made in or with merchants located in foreign countries will be billed to you in U.S. dollars. The currency conversion rate for international transactions as established by VISA International, Inc. is a rate selected by VISA from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate VISA itself receives, or the government-mandated rate in effect for the applicable central processing date. In addition, you will be charged a Foreign Transaction Fee for the transaction amount for any card transaction made in or with merchants located in a foreign country.
4. Member Liability.
You are responsible for all transfers you authorize using your EFT services under this Agreement. If you permit other persons to use an EFT service, Card, ATM-PIN or audio response access code you are responsible for any transactions they authorize or conduct on any of your accounts. Tell us at once if you believe anyone has used your Account, Card, PIN or access code and accessed your accounts without your authority, or if you believe that an electronic funds transfer has been made without your permission using information from your check. Telephoning is the best way of keeping your possible losses down
For Visa Debit Card transactions, if you notify us of your lost or stolen card, you may not be liable for any losses provided you notify us promptly and were not grossly negligent (for example keeping your PIN with your Card is grossly negligent) or fraudulent in handling your Debit Card and you provide us with a written statement regarding your unauthorized Debit Card claim, otherwise the following liability limits will apply. For all other EFT transactions except electronic check transactions, if you tell us of the unauthorized use of your account within two (2) business days, you can lose no more than $50 if someone accessed your account without your permission. If you do not tell us within two (2) business days after you learn of the loss of your ATM Card or unauthorized use of your account or EFT service, and we can prove that we could have stopped someone from accessing your account without your permission if you had told us, you could lose as much as $500.
Also, if your statement shows EFT transfers that you did not make including those made by Card, access code or other means, tell us at once. If you do not tell us within sixty (60) days after the statement was mailed or otherwise made available to you, you may be liable for the full amount of the loss if we can prove that we could have stopped someone from making the transfers if you had told us in time.
If you believe your Card or access code has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call: 928-4536 or 1 (800) 950-4536 or write: Central Willamette PO Box D, Albany, OR 97321-0437
5. Business Hours.
The Credit Union shall be open for business during the following hours.
LOBBY. Monday — Friday 9:00 A.M -6:00 P.M
Saturday 9:00 A.M - 1:00 P.M
DRIVE-UP: Monday - Friday 8:30 A.M. -6:00 P.M
Saturday 9:00 A.M - 1:00 P.M
Holidays not included
6. Fees and Charges.
There are certain charges for electronic funds transfer services as set forth on the Rate and Fee Schedule. From time to time, the charges may be changed. We will notify you of any changes as required by law. If you use an ATM that is not operated by us, you may be charged an ATM surcharge by the ATM operator or an ATM network utilized for such a transaction. The ATM surcharge will be debited from your account if you elect to complete the transaction. If you conduct an ATM or debit card transaction and you have provided an opt-in for the Courtesy Pay service or you conduct any other an electronic funds transfer and overdraw your account, you agree to pay an overdraft fee of $30.
7. Right to Receive Documentation of Transfers.
a. Periodic Statements. Transfers and withdrawals transacted through an ATM or the audio response system will be recorded on your periodic statement. You will receive a statement monthly unless there is no transaction in a particular month. In any case, you will receive a statement at least quarterly.
b. Direct Deposits. If you have arranged to have a direct deposit made to your account at least once every sixty (60) days from the same source and you do not receive a receipt, you can find out whether or not the deposit has been made by calling the phone numbers listed for the Credit Union. This does not apply to transactions occurring outside the United States.
c. Terminal Receipts. You will get a receipt at the time you make any transaction (except inquiries) involving your account using an ATM, in excess of $15.
8. Account Information Disclosure.
We will disclose information to third parties about your account or the transfers you make:
a. As necessary to complete transfers; b To verify the existence of sufficient funds to cover specific transactions upon the request of a third party, such as a credit bureau or merchant;
c. To comply with government agency or court orders; d If you give us your written permission.
9. Credit Union Liability for Failure to Make Transfers.
If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable for instance:
a. If, through no fault of ours, you do not have enough money in your account to make the transfer, your account is inactive, or the transfer would go over the credit limit on your line of credit.
b. If you used the wrong ATM-PIN, audio response access code or you used an ATM-PIN or audio response access code or Card in an incorrect manner.
c. If the Card has expired or is damaged and cannot be used.
d. If the automated teller machine (ATM) where you are making the transfer does not have enough cash.
e. If the ATM or POS terminal was not working properly and you knew about the problem when you started the transaction.
If circumstances beyond our control (such as fire, flood or power failure) prevent the transaction.
g. If the money in your account is subject to legal process or other claim.
h. If your account is frozen because of a delinquent loan.
If the error was caused by a system of any of the designated ATM networks.
j. If there are other exceptions as established by the Credit Union.
k. The ATM machine may retain your Card in certain instances, in which event you may contact the Credit Union about its replacement.
1 0. Preauthorized Electronic Fund Transfers.
a. Stop Pavment Riqhts. If you have arranged in advance to make regular electronic fund transfers out of your account(s) for money you owe to others, you may stop payment of preauthorized transfers from your account. You may request a stop payment by telephone, by mail or in person. The stop payment will be effective if the Credit Union receives the order in time for the Credit Union to act upon the order. The Credit Union may require written confirmation of the stop payment order to be made within fourteen (14) days of any oral notification. If we do require the written confirmation, the oral stop payment order shall cease to be binding fourteen (14) days after it has been made.
b. Notice of Varvinq Amounts. If these regular payments may vary in amount, the company you are going to pay will tell you, ten (10) days before each payment, when it will be made and how much it will be.
c. Liabilitv for Failure to Stop Pavment of Preauthorized Transfers. If you order us to stop one of these payments three
(3) business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.
1 1 . Termination of Electronic Fund Transfer Services.
You agree that we may terminate this Agreement and any Card or electronic fund transfer services, if:
a. You, or any authorized user of your ATM-PIN or audio response access code, breach this or any other agreement with us;
b. We have reason to believe that there has been an unauthorized use of your Card, ATM-PIN, or audio response access code; or
c. We notify you or any other party to your account that we have cancelled or will cancel this Agreement. d. You are terminated from Credit Union membership.
You or any other party to your account can terminate this Agreement by notifying us in writing. Termination of service will be effective the first business day following receipt of your written notice. Termination of this Agreement will not affect the rights and responsibilities of the parties under this Agreement for transactions initiated before termination.
12. Notices.
The Credit Union reserves the right to change the terms and conditions upon which this service is offered. The Credit Union will mail notice to you at least twenty-one (21) days before the effective date of any change, as required by law. Use of this service is subject to existing regulations governing the Credit Union account and any future changes to those regulations.
13. Billing Error Notice for Electronic Fund Transfers.
For consumer accounts, Telephone us at (800) 950-4536 or write us at P.O. Box D, Albany, OR 97321 as soon as you can, if you think your account statement or Debit Card/ATM receipt is wrong or if you need more information about a transaction listed on your statement or receipt. We must hear from you no later than sixty (60) days after we send you the first statement on which the problem or error appeared.
In case of errors or questions about your electronic transfers on your consumer accounts, telephone us at the phone numbers or write us at the address set forth as soon as you can. We must hear from you no later than sixty (60) days after we sent the first statement on which the problem appears.
a. Tell us your name and account number.
b. Describe the transaction you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information
c. Tell us the dollar amount of the suspected error.
If you tell us orally, we may require that you send us your complaint or question in writing within ten (10) business days.
We will tell you the results of our investigation within ten (10) business days after we hear from you and will correct the error promptly. For errors related to transactions occurring within thirty (30) days after the first deposit to the account (new accounts), we will tell you the results of our investigation within twenty (20) business days. If we need more time, however, we may take up to forty five (45) calendar days to investigate your complaint or question (ninety [90] calendar days for POS transaction errors, new account transaction errors, or errors involving transactions initiated outside the United States). If we decide to do this, we will re-credit your account within ten (10) business days (five [5] business days for VISA Check Card purchase transactions) for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not recredit your account. If we decide after our investigation that an error did not occur, we will deliver or mail to you an explanation of our findings within three (3) business days after the conclusion of our investigation. If you request, we will provide you copies of documents (to the extent possible without violating other members' rights to privacy) relied upon to conclude that the error did not occur.
14. ATM Safety Notice.
The following information is a list of safety precautions regarding the use of Automated Teller Machines (ATM) and Night Deposit Facilities.
a. Be aware of your surroundings, particularly at night.
b. Consider having someone accompany you when the ATM or night deposit facility is used after dark.
c. If another person is uncomfortably close to you at the time of your transaction, ask the person to step back before you complete your transaction.
d. Refrain from displaying your cash at the ATM or night deposit facility. As soon as your transaction is completed, place your money in your purse or wallet. Count the cash later in the safety of your car or home.
e. If you notice anything suspicious at the ATM or night deposit facility, consider using another ATM or night deposit facility or coming back later. If you are in the middle of a transaction and you notice something suspicious, cancel the transaction, take your ATM access device or deposit envelope, and leave.
If you are followed after making a transaction, go to the nearest public area where people are located.
g. Do not write your personal identification number or code on your ATM card.
h Report all crimes to law enforcement officials immediately.
Ⅳ . PRIVACY POLICY
WHAT DOES CENTRAL WILLAMETTE DO WITH
YOUR PERSONAL INFORMATION?
The financial services offered through our website are not
directed toward children under the age of 13. We do not knowingly collect or solicit information from children.
Online Privacy Protections. At our website, www.centralwcu.org, you may apply for accounts and services and you may communicate with us via e-mail. To protect the information you provide us online, we use multiple levels of security. The application information we accept online and our home banking service relies on industry standard "Secure Sockets Layer" (SSL) encryption to secure your transaction information and communication. Generally, our emails are not secure. However, if we ask you to e-mail us information other than your name, address, e-mail address and phone number, it will be obtained using a secure (SSL encryption) e-mail form. When you visit our website, you can access site information without revealing your personal identity. However, in order to help us identify you for future site visits, we use "cookies" to track your visit. Cookies are small text files assigned and attached by a web server to the directory file on your PC. Cookies help websites recognize return visitors. So, when you return to a website that you have visited before, your browser gives this data back to the server. We use cookies to make your online experience easier and more personalized. We use cookies in the following way: CU Online places a cookie on your PC when you log in. It is a temporary cookie that holds a unique number that identifies you only to our server. It holds no personal information but it is used to authenticate your home banking access. Various pages on our website also place cookies on your PC when you visit those pages. The purpose of those cookies is to track activity and usage patterns on the site. These cookies are not personally identifiable.