Educational Employees Credit Union :: Master Account Disclosure

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MASTER ACCOUNT DISCLOSURE

INTRODUCTION

Thank you for becoming a member of, and opening an account with Educational Employees Credit Union. By signing the Master Account Card and depositing money in an account, you and the credit union agree to the following applicable terms.

Account Agreement

This agreement outlines the terms and conditions of your credit union accounts and provides certain disclosure information required by government regulations. This agreement to the Primary Account holder is considered notice to all subsequent owners on this account.

Transactions

All account transactions are governed by this agreement, Credit Union Policies, and the Credit Union By-laws, as well as applicable state and federal regulations in their present form or as revised in the future.

Anyone who signed the account signatures portion of the Master Membership Account Card is authorized to deposit or withdraw shares from the account. Any payment or transaction authorized by you shall be considered valid. You agree to indemnify and save the credit union harmless from any suits or liability directly or indirectly resulting from the handling of the account consistent with the instructions of any authorized person. All owners on this account will be responsible for all overdrafts, whether or not they signed the item or benefited from the overdraft.

Deposits can be made by Payroll Deduction, Direct Deposit, OptionTeller® ATM, Electronic Funds Transfer (EFT), wire transfer, deposit-sharing network ATMs, Personal Telephone Access (PTA), or Online Access. They can be made in person or by mail. All deposits will be subject to the Availability of Funds section of this agreement.

Withdrawals can be made by you in person, by check if you have a checking account, by telephone, through ATMs, by PTA, by EFT, by Online Access and BillPayer, by mail, by preauthorized one-time or recurring transfer, by wire transfer request, or by using your Visa Debit Card at point-of-sale (POS) terminals and participating Visa merchants. Withdrawals made by telephone, PTA, Online Access and BillPayer will be payable to the primary accountholder and will be mailed to the address in the Credit Union's records.

Checks Honored - We will only honor completed, signed, and endorsed checks. We will not guarantee checks printed by other vendors. Spoiled checks should be destroyed or, if retained, disfigured. The carbon copy in the checkbook should be marked "void".

Laws and Rules Governing Checking Transactions - Checking transactions will be governed by the California Commercial Code, Federal Reserve Board Regulations, and our credit union procedures, as changed from time to time.

Stale Checks - The credit union is under no obligation to pay a check on which the date is more than six months old. If we do pay it, we will not be liable to you for any costs or damages.

Non-cash Deposits - Non-cash deposits are made available only after the times specified in the Funds Availability Policy section of this disclosure. Please observe these delays in writing checks on your account, unless you intend to rely on your overdraft protection. The credit union may refuse to accept for deposit checks that appear to have been altered or are not made payable to you. Account deposit tickets in the back of your checkbook should be used for all deposits.

ACH Conversion of Checks - In some cases, when you write a check to a merchant or send a check to a creditor to pay a bill, the check may be converted to an electronic funds transfer (EFT). This will be debited against your account in the same manner as if we had received the actual paper check.

Preauthorized Drafts - A preauthorized draft is created when you give someone (such as a telemarketer or a creditor to whom you owe money) your checking account number and the routing and transit number and authorize them to debit your checking account for an agreed upon amount. Any preauthorized draft presented to the Credit Union after you have voluntarily given your checking account information to the payee is considered authorized by you, even though you have not signed a check.

Check 21 and Substitute Checks - A federal law known as Check 21 allows financial institutions to replace original paper checks with "substitute checks." A substitute check looks similar to the original check. It is an image of the front and back of the original check and the legend, "This is a legal copy of your check. You can use it the same way you would use the original check." Some or all of the checks that you receive back from us may be substitute checks.

Overdraft Protection

If you have an overdraft protection loan account in good standing and with available credit, and there is not enough money in your checking account to cover your checks or Electronic Funds Transfer (EFT) items, these will be considered to be requests for a loan advance from the overdraft loan. Overdraft protection advances will be made in $100 increments, unless your overdraft protection loan source does not have sufficient available credit. If your available credit is less than $100 but enough to cover your overdraft, an advance of the remaining available credit will be transferred to your checking account. Overdraft loan advances are governed by the terms of the appropriate loan agreement.

You can choose to have overdrafts on your checking account covered by transfers from a designated savings account. Overdraft protection transfers will be in $100 increments, unless your savings account has less than $100 available in it. If that happens, and your available savings balance is enough to cover the overdraft, the remaining available balance will be transferred.

There is a $3 fee for each overdraft transfer from a Share Account. Transfers from any Share Account are limited by Federal law to six (6) per month. Unless otherwise specified on your Overdraft Agreement, these accounts will be accessed in the following order: Overdraft Protection loan, then savings.

Non-Sufficient Funds Items

If you do not have an overdraft protection loan or have exceeded your overdraft loan credit limit and there is not enough money in either your checking account or your savings account, we will consider any check presented for payment to be a Non-Sufficient Funds (NSF) item. A NSF fee as shown on the Schedule of Fees will be charged to your account for every NSF check, point-of-sale or Automated Clearing House transaction. We may consider paying your NSF items through our Platinum Overdraft Program. Platinum Overdraft means that we may, at our sole discretion, pay an item over the amount available in your checking account in anticipation that you will make an immediate deposit to bring your account to a positive balance. The NSF fee will be charged regardless of whether the NSF transaction is paid or not. Platinum Overdraft is a member service and we are under no obligation to pay items when your account has non-sufficient funds, even if previous NSF transactions were paid.

NSF checks that you deposit or that you write may be automatically re-presented electronically up to three times (including the original presentment). Some limits apply. For example, the check amount must not exceed $2,500, the face of the check must state that the item was returned NSF, the payee must have notified you that the check could be electronically re-presented, and the check must not be altered or forged. These are called "RCK entries" and they are subject to provisions of the Federal Reserve Regulation E (Electronic Funds Transfer).

We have the right to offset a returned NSF item with the proceeds of any other account in which you have an interest. Unless there is special provision for transfers to meet overdrafts, the credit union can close your checking account without prior notice for repeated overdrafts or for your misuse of the account such as check "kiting." The same rules apply, if an item is returned for which you have obtained cash.

Stop Payment

You can stop payment on any check drawn on your account before the check has been cleared for payment by notifying us orally or in writing. You may not stop payment on a POS or Online Access transfer once the transaction has been accepted. Oral notification must be followed up by a written request within 14 days or the stop payment request will lapse. Stop payment requests will be processed promptly, but the credit union will not be responsible for a check which is paid by us within the first 24 hours after you request the stop payment. If you elect to stop payment through Online Access, we will not be responsible for a check which is paid by us within 48 hours after you request the stop payment. Written stop payment requests are valid for only twelve (12) months but may be renewed for additional twelve (12) month periods.

In order for us to effectively stop payment, our computer searching requires absolute accuracy. We need to know the following information:

Account number
Date of check
Check number
Amount of check

Stop payment requests can also be entered by you through Online Access and Personal Telephone Access (PTA) using your Personal Identification Number (PIN). We will honor stop payments requested through Online Access and PTA without your written signature.

If we fail to carry out a timely stop payment, we will not be obligated to reimburse you if the check discharged a valid obligation. If we do reimburse you, the claim for funds against the payee of the check will be assigned to us and you agree to cooperate in collecting the amount wrongfully paid to the payee of the stopped check.

For information on stopping a pre-authorized payment from your account, see Electronic Funds Transfer Agreement and Disclosure Statement.

Post Dated Checks

Post dated checks may be cashed if presented by the payee before the date unless you have given us notice enough in advance to avoid paying the check until the date on the check. The notice is effective for six (6) months, if in writing (14 days if oral) and may be renewed for an additional six (6) month period.

General Terms and Conditions

We may refuse to honor your instructions if we are uncertain of your signature or if the signature appears to be altered or not authentic. If that happens, we will notify you in writing.

All accounts are subject to fees as outlined in the initial disclosure and Schedule of Fees. We may debit your account for applicable fees without your written approval.

The use of EFT, ATM card, or Personal Telephone Access (PTA) are governed by the Electronic Funds Transfer Agreement and Disclosure Statement. The use of Online Access and Online BillPayer are governed by the Online Access and Online BillPayer Agreement and Disclosure Statement.

There is no limit to the number of withdrawals or transfers you can make by ATM or at our teller windows. However, government regulations limit the number of non-personal withdrawals/transfers from any Share Account to six per month. Non-personal withdrawals/transfers are defined as automatic overdrafts, phone/fax transfers to a third party, phone/fax transfers, transfers made through PTA, Online Access, Online BillPayer, and pre-authorized automatic ACH transfers.

The credit union as a financial institution governed by the State of California is required to report a cash deposit or withdrawal transaction over $10,000 to the Federal government as required under the Bank Secrecy Act. Under certain circumstances, transactions for lesser amounts may be reported.

The Credit Union has the right to offset any debt you owe us with funds in any of your credit union accounts. If you do not timely pay any debt you owe us, you agree to reimburse us for our reasonable collection costs. If we have to sue you to collect any debt you owe us, whether related to a loan or an account you have with us or arising out of any other circumstance, you agree to pay our reasonable attorney's fees and costs of suit.

The Board of Directors may establish a waiting period of up to 60 days for withdrawals.

You must keep the credit union informed of your current street address and, if different, your mailing address. In the event you fail to do so, a locator charge may be assessed to your savings account.

Permanent Records - We will mail you a monthly statement of your account, or we will send an e-mail notification of online statement availability if you are enrolled in eStatements, if you have any of the following services: checking, OptionTeller ® ATM or Visa Check Card, Online Access, Online BillPayer, Personal Telephone Access, Electronic Funds Transfer, an overdraft protection loan, or a Home Equity Line of Credit. The statement will reflect all deposits, withdrawals, dividends, and charges posted to your account during the month. If you do not have any of the above listed services, we will mail you a quarterly statement reflecting the same information.

It is your responsibility to read The Report Card newsletter provided with your quarterly statement. Important disclosure information is often provided in this newsletter.

Carbonless copies of your checks are provided, therefore, your original checks will not be returned to you with your monthly statement. Microfilm copies of paid checks are available upon request. The credit union will furnish a free copy of the first two checks requested for each statement period. Copies of original checks beyond the first two checks requested are subject to a small fee (see current Schedule of Fees). The printing cost for your personalized checks will be deducted from your checking account.

If any mailed statements or vouchers are returned undeliverable by the U.S. Postal Service, the credit union may destroy them.

The credit union is relieved of all liability for items lost in delivery by the U.S. Postal Service or otherwise.

Except for checking accounts, all accounts are non-transferable other than on our books.

We will give you 30 days notice of any change in our policies including changes in charges and any new charges. Current charges are shown in the Schedule of Fees.

Terms and Conditions Applicable to Joint Accounts

The persons signing the Master Account Card are joint owners of all account proceeds including all dividends with right of survivorship. They agree with each other and with the credit union that funds, including dividends, are jointly and equally owned by the account owners regardless of source or amount of contribution. The credit union will honor requests for deposits or withdrawals from any account owner. Each owner has the right to pledge shares on deposit, except for checking accounts, as security for a loan. A pledge of shares by one owner will be binding on all owners.

Upon the death of any account owner, all shares on deposit shall be owned jointly and equally by the surviving owners. Upon the death of all signers, the account balance will be disbursed to the named pay-on-death beneficiary and will not be subject to the terms of any will or probate proceeding handling the estate. If no beneficiary is named, the account proceeds will pass to the estate.

Any owner may terminate the other signer's rights by withdrawing all funds from and closing the account. We will require that the minimum balance be maintained if there is an outstanding loan or VISA balance on the account or if any owner has an IRA or separate trust account with the credit union.

Any change in account ownership or access shall be in writing on a standard credit union authorization form. We may require that signatures be notarized on any request for changes.

Share Insurance

Dependent on ownership, accounts are added together and insured up to $100,000 by the National Credit Union Administration (NCUA), an agency of the Federal Government. IRAs are separately insured up to $250,000.

Voting Privileges

Each member, regardless of the number of accounts or the amount of savings on deposit, has one vote in the annual election to fill vacancies on the Board of Directors and Supervisory Committee.

The Board of Directors and Supervisory Committee are officials elected from the membership to govern the credit union. Voting privileges are not transferable.

Business Days

Our business days are Monday through Friday excluding holidays. Deposits and payments that you give us up to 5 p.m. Monday through Thursday at any branch will be credited to your accounts the same business day and up to 6 p.m. on Friday. Deposits made at a drop box after 3:30 p.m. will be credited to your account the following business day.

TRUTH-IN-SAVINGS DISCLOSURE

The following is a description of the terms of our accounts. When you open an account you will receive a disclosure of current rates as well.

Regular Share and Sub-Share Accounts (Savings)

To encourage savings, the Board of Directors has adopted a tiered dividend rate structure.
Tiered Earnings for Share Suffix Numbers 0, 2, 3, 4, 7

$ 0 - 249.99 (No dividend on this range)
250 - 2,499.99
2,500 - 4,999.99
5,000 - 7,499.99
7,500 - 9,999.99
10,000 – Over

Rate Information - The dividend rate and annual percentage yield on your savings account may change every month as determined by the credit union.

Nature of Dividends - Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.

Compounding and Crediting Frequency - Dividends will be compounded daily and will be credited monthly. If you close your savings account before dividends are credited, you will not receive accrued dividends.

Minimum Deposit to Open Account - The minimum deposit required to open this account is $5.00. You may request additional share suffixes under your account number. The minimum deposit for each additional suffix is $5.00.

Minimum Balance to Maintain Account - The minimum balance you must maintain in the share suffix 0 account is $5.00 per member. The par value of a share is $5.00. The minimum balance for each additional suffix is $5.00.

Minimum Balance to Obtain the Dividend Rate - You must maintain a minimum balance of $250.00 in the share suffix or sub-share each day to obtain the disclosed dividend.

Dividend Computation Method - Dividends are calculated by the daily balance method which applies a daily periodic rate to the principal plus accrued dividends in the account each day.

Accrual of Dividends - Dividends will begin to accrue on cash and non-cash items (e.g. checks) the day they are credited to the member's account.

Transaction Limitations - There is no limit to the number of withdrawals or transfers you may make by ATM or at our teller windows. Federal regulations require that during any monthly statement period, you may not make more than six transfers from any savings account to another of your Credit Union accounts, or to a third party, by means of electronic transfer via Online Access, PTA, pre-authorized or automatic transfer, facsimile machine, or checking overdraft protection. Please refer to your EFT Statement and Agreement.

Fees - Your account may be charged for overdraft transfers and other fees listed in the Schedule of Fees.

Minor Share Account (Savings)

Tiered Earnings for Share Suffix Number 6

$ 0 - 249.99
250 - 2,499.99
2,500 - 4,999.99
5,000 - 7,499.99
7,500 - 9,999.99
10,000 – Over

Rate Information - The dividend rate and annual percentage yield on your savings account may change every month as determined by the credit union.

Nature of Dividends - Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.

Minimum Deposit to Open Account - The minimum balance required to open this account is $5.00.

Minimum Balance to Maintain Account - The minimum balance you must maintain in the minor share suffix 6 account is $5.00.

Dividend Computation Method - Dividends are calculated by the daily balance method which applies a daily periodic rate to the principal plus accrued dividends in the account each day.

Accrual of Dividends - Dividends will begin to accrue on cash and non-cash items (e.g. checks) the day they are credited to the member's account.

Transaction Limitations - You must be under age 18 to open a minor savings account. When you turn age 18, the balance in the minor share suffix 6 will be transferred to a share suffix 0. If the minimum deposit in this account is not maintained, we may close the account and your membership may terminate.

Share Draft Account (Checking)

Tiered earnings for checking share suffix 8

$ 0 - 499.99 (No dividend on this range)
500 - 1,999.99
2,000 - 4,999.99
5,000 – Over

Rate Information - The dividend rate and annual percentage yield on your checking account may change every month as determined by the credit union.

Nature of Dividends - Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.

Compounding and Crediting Frequency - Dividends will be compounded daily and will be credited monthly. If you close your checking account before dividends are credited, you will not receive accrued dividends.

Minimum Deposit to Open Account - The minimum deposit required to open this account is $5.00.

Minimum Balance to Maintain Account - There is no minimum balance required to maintain account.

Minimum Balance to Obtain the Dividend Rate - You must maintain a minimum balance of $500.00 in the account each day to obtain the disclosed dividend.

Dividend Computation Method - Dividends are calculated by the daily balance method which applies a daily periodic rate to the principal plus accrued dividends in the account each day.

Accrual of Dividends - Dividends will begin to accrue on cash and non-cash items (e.g. checks) the day they are credited to the member's account.

Transaction Limitations - You must maintain a regular savings account to have a checking account. At our option, we may pay any NSF check, POS transaction, online bill payment, pre-authorized debit, or internet banking transaction. A NSF fee is charged for each item, whether or not we choose to pay it. We are under no obligation to pay any NSF item, even if previous items were paid.

Fees - DBA: School Organizations - Free, 0 to 10 transactions per month - $5 monthly, 11+ transactions per month - $15 monthly. Second Chance Checking: $5 monthly. NSF Item: $24 for each NSF check, POS transaction, online bill payment, pre-authorized debit or internet banking transaction, whether paid or not. Your account may be charged other fees listed in the Schedule of Fees.

Holiday Wise Club Rate Information

Rate Information- The dividend rate and annual percentage yield on your Holiday Wise Club account may change every month as determined by the credit union.

Nature of Dividends - Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.

Compounding and Crediting Frequency - Dividends will be compounded daily and will be credited monthly.

Minimum Deposit to Open Account - The minimum deposit required to open this account is $5.00.

Minimum Balance to Maintain Account - There is no minimum balance required to maintain the account.

Minimum Balance to Obtain the Dividend Rate - You must maintain a minimum balance of $5.00 in the account each day to obtain the disclosed dividend.

Dividend Computation Method - Dividends are calculated by the daily balance method which applies a daily periodic rate to the principal plus accrued dividends in the account each day.

Accrual of Dividends - Dividends will begin to accrue on cash and non-cash items (e.g. checks) the day they are credited to the member's account.

Transaction Limitations - Early withdrawals, prior to Club year end on October 31, will result in loss of all dividends paid through the club year. You can make contributions in monthly increments. The maximum principal account balance cannot exceed $6,000.00. The account will automatically renew for the following Club year after disbursement of account funds on November 1, unless you cancel or change the account.

IRA Savings Account

Rate Information - The dividend rate and annual percentage yield on your IRA savings account may change every month as determined by the credit union.

Nature of Dividends - Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.

Compounding and Crediting Frequency - Dividends will be compounded daily and will be credited monthly.

Minimum Deposit to Open Account - No deposit is required to establish your IRA account and there is no minimum deposit requirement to your IRA savings.

Minimum Balance to Maintain Account - There is no minimum balance required to maintain the account.

Minimum Balance to Obtain Dividend Rate - There is no minimum balance required to obtain the dividend rate.

Dividend Computation Method - Dividends are calculated by the daily balance method which applies a daily periodic rate to the principal plus accrued dividends in the account each day.

Accrual of Dividends - Dividends will begin to accrue on cash and non-cash items (e.g. checks) the day they are credited to the member's account.

Transaction Limitations - You must maintain a regular membership account with us to maintain an IRA. IRA accounts are governed by Federal Tax laws. Consult your separate IRA disclosure for restrictions on deposits, withdrawals, and tax penalties. A special IRA account (conduit) can be opened for rollover retirement funds that are to be frozen, with no contributory access. You must advise the credit union for which tax year each IRA contribution is being made. If no advice of tax year is given, we will assume the contribution is for the current year. Contributions by payroll deduction will be credited for the tax year in which the contribution is posted.

Fees - A fee may be charged for transfer or termination of an IRA account or certificate.

Share/IRA Certificate

Rate Information - The dividend rate and annual percentage yield will not change until maturity. Refer to Rate Sheet or Rate Line for current rate. The annual percentage yield is based on an assumption that dividends will remain on deposit until maturity. If you make a withdrawal from your account your earnings will be reduced.

Nature of Dividends - Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.

Compounding and Crediting Frequency - Dividends are paid monthly on the last day of the dividend period and at maturity. They may be added to the certificate balance or transferred to a savings account. If added to the balance, dividends are compounded upon payment.

Minimum Deposit to Open Account - The minimum deposit required to open this account is $500.00 to $100,000.

Dividend Computation Method - Dividends are calculated by the daily balance method which applies a daily periodic rate to the principal in the account each day.

Accrual of Dividends - Dividends will begin to accrue on cash and non-cash items (e.g. checks) the day they are credited to the member's account.

Transaction Limitations - You may not make additional deposits into an existing certificate. Paid dividends may be withdrawn at any time without any credit union penalty. IRA Certificates are governed by Federal Tax law. Consult your separate IRA disclosure for restrictions on deposits, withdrawals, and tax penalties.

Fees - A fee may be charged for transfer or termination of an IRA account or certificate.

Early Withdrawal Penalties - A substantial penalty is imposed for early withdrawal.

Withdrawal of any of the principal balance within the first six (6) days of origination will be subject to a penalty of seven (7) days dividends.

If your account has an original maturity of one year or less, withdrawal of the principal balance which does not reduce the balance of the certificate below the minimum balance will be subject to penalty of 90 days of dividends on the amount withdrawn.

If your account has an original maturity of longer than one year, withdrawal of the principal balance which does not reduce the balance of the certificate below the minimum balance will be subject to penalty of 180 days of dividends on the amount withdrawn.

Withdrawal of an amount which reduces the certificate balance to less than the minimum balance will result in the penalty described above applied to the entire principal amount and in the cancellation of the certificate.

Waiver of Penalties - The penalties will be waived if the withdrawal is made:

after the death of the member-owner of the certificate account.
for any grounds which the law establishes as a valid condition for the waiver of a pre-payment penalty such as the depositor's total disability.
on the basis of any permissible early distribution of an IRA recognized by Federal law.
as an incident of the liquidation of the credit union.
after the failure of the credit union to pay a dividend within 10 days after the agreed date.

Automatic Renewal Certificate - Upon maturity, the certificate will automatically renew with the same terms and the then current dividend and annual percentage yield unless written instructions for other disposition of the funds has been received by us on or prior to the maturity. There is no "grace" period at the certificate's maturity. You will receive a certificate renewal notice 30 days prior to maturity.

GENERAL PROVISIONS

Tax ID Number and Withholding

The certified and correct Tax Identification Number (TIN) of the primary accountholder must be provided for each account. Required tax information will be reported to the Internal Revenue Service (IRS) under the primary accountholder name and TIN. Any charge assessed by the Internal Revenue Service for an incorrect TIN will be charged to your account.

We may withhold from your dividends amounts required by Federal Tax laws if you or the IRS advise us that you are subject to back up withholding or if you fail to provide your correct TIN.

California Unclaimed Property Law

Under the State of California's Unclaimed Property Law any account with a financial institution that has had no activity for 3 years will escheat to the State of California. Dividends earned do not qualify as activity. "Escheat" is the turning over of property to the State.

Funds will be escheated to the State if, after 3 years, you have not:

deposited funds, withdrawn funds or claimed a cash dividend; or,
not corresponded in writing with the credit union, indicating an interest in the shares; or,
have not otherwise indicated an interest which is evidenced by a memorandum or other record on file with the credit union (example: a pledge of shares as security for a loan).

Credit union shares and accumulated dividends earned thereon will escheat to the State Controller of California if:

your address is in California; or,
we have no current address for you in our records and the credit union's principal place of business is in California; or,
your address is another state, the credit union's principal place of business is California and the state in which you reside does not escheat that item.

Closing Your Account

You may close your checking account by bringing your account to a zero balance and providing us with written instructions to close.

The credit union may close your account without notice due to your failure to provide funds sufficient to pay the checks you write, your failure to keep current loan payments, your filing for bankruptcy relief, or your failure to observe the conditions of any other agreement with the credit union.

Accounts in which there is no activity for 90 days will be closed at the credit union's option.

Death or Incapacity of Accountholders - If there is only one authorized signer on the account, your death or the appointment of a guardian to manage your legal affairs will terminate our authority to disburse funds from the account 10 days after the later of, your death or incompetence as determined by a court, or the date that your death or formal determination of incompetence is known to the credit union.

We will have the obligation to honor the order of a court and lawful power of attorney dealing with the specific account. Following the knowledge of your death or incompetence we will also honor a stop payment request by any person claiming an interest in the account.

We have the right to close the account for any business reason on 10 days written notice to you at your last known address. Any termination of the account will not affect our handling of regular transactions prior to the notice, provided that sufficient funds are on deposit to handle them.

Error Resolution

Please read your statement promptly to be sure there are no errors. The credit union will be responsible for any errors which we make provided you notify us in writing within 30 days of the mailing of the statement containing the error. We will not be liable for our mistakes if you fail to notify us within the 30 day period.

If we correct any error which we made, or accept any responsibility for a transaction, we have the right to collect the amount credited to your account from anyone else who is responsible. Our crediting your account will result in an automatic assignment to us of your rights to collect the amount from anyone else.

If we make a careless error in handling your account, our liability will be limited to the actual damages. The maximum actual damage is the amount of the check. We will not be liable for consequential damages such as alleged harm to your credit standing, unrealized profits, emotional distress, or exemplary damages due to a claimed reckless disregard of the consequence of our actions.

E-MAIL

E-mail communication allows you to send and receive electronic mail messages to and from the Credit Union. The Credit Union will not immediately receive and review E-mail messages that you send and will NOT process any request for a funds transfer via E-mail.

Further, the Credit Union may not act upon requests where the Credit Union would normally require written notification or your authorizing signature without first confirming the authenticity of the E-mail request/notification via telephone. These may include the following:

Stop payment requests
Requests for replacement of PINs
Lost/stolen PIN or unauthorized transaction reports (refer to the "Your Responsibility for Unauthorized Transactions" section)
Reports of lost/stolen ATM or Visa cards
Address change requests

In some instances, written confirmation reflecting your authorizing signature may still be required. The Credit Union will not take action based on other E-mail requests until the Credit Union actually receives your message and has a reasonable opportunity to act.

RELATED SERVICES

Automated Deposit Services

With Direct Deposit service, you authorize us to deposit periodic payments from a government agency such as Social Security and Supplemental Security Income (SSI) benefits into your credit union accounts. To obtain this service, call the Social Security Administration at 1 (800) 772-1213, or visit one of our branches. Allow up to 90 days for the direct deposits to start. Other types of payments eligible for automatic deposit are Federal Retirement, PERS, or State Teachers Retirement benefits.

With Automatic Payroll Deposit, you authorize your employer to deposit your wages into your credit union accounts. There are two types of payroll services available.

Payroll Deduction allows you to deposit a specified amount of each paycheck directly into your credit union accounts.
Total Warrant is available for many school districts in our area. You may request your paychecks to be deposited automatically to your credit union accounts.

Automatic Transfer Service

Automatic transfer service allows you to transfer funds from savings or checking accounts to other savings or checking accounts at the credit union. Through this service you can also set up your loans for automatic payments from your credit union accounts. Visit any of our branches to sign up for this service.

Funds Transfer Services

The following provisions apply to funds transfers you send or receive through us. These provisions supplement the separate agreements you have with us for these services. The following terms: funds transfer, payment order, and beneficiary are used here and defined under Division 11 of the California Commercial Code (UCC4A).

A funds transfer is the process of carrying out payment instructions that lead to paying a beneficiary. The payment order is the instructions you give or we receive regarding a funds transfer. The beneficiary is the person who receives the payment.

Funds transfer services include wire transfers, transfers through an automated clearing house (ACH) system, and automatic transfers we make between Educational Employees Credit Union accounts.

We charge fees for sending a funds transfer. For our current fees, telephone a Member Services Representative at the number shown on your statement or see a Branch Representative.

Fedwire - Fedwire is the funds transfer system of the U.S. Federal Reserve Banks. When you send or receive a funds transfer, we or other banks involved in the funds transfer may use Fedwire. Your rights and obligations are governed by Regulation J of the U.S. Federal Reserve Board.

Circumstances Beyond Our Control - Without any liability to you, we may not act or may delay in acting on a payment order, or we may not credit or may delay in crediting a funds transfer to your account if any of the following occurs:

Legal constraint
Interruption of communication facilities
Equipment failure
War
Emergency conditions
Other circumstances beyond our control
Potential violation of any guideline, rule, or regulation of any government authority

Cutoff Times - We have established cutoff times for receipt and processing of funds. Our cutoff time for funds transfers within the 12th district of the Federal Reserve System is 2 p.m., and outside the 12th district is 11 a.m. (Pacific Time), Monday through Friday excluding holidays. We may treat payment orders we receive after our cutoff time as received the next business day.

Providing Accurate Identification - If you give Educational Employees Credit Union a payment order which identifies the beneficiary (recipient of the funds) by both name and identifying account number, payment may be made by the beneficiary's bank on the basis of the identifying or bank account number, even if the number identifies a person different than the named beneficiary.

In addition, if you give the credit union a payment order which identifies an intermediary or beneficiary's bank by both name and an identifying number, a receiving bank may rely on the number as the proper identification even if it identifies a different person than the named bank.

ACH - An ACH funds transfer is a separate agreement you have with us to process payment orders to receive or send funds from your credit union accounts. ACH transactions are governed by operating rules of the National Automated Clearing House Association. In accordance with these rules, Educational Employees Credit Union will not provide you with next day notice of receipt of ACH credit transfers to your account. You will continue to receive notices of receipt of ACH items in the periodic account statements which we provide.

Educational Employees Credit Union may give you credit for automated clearing house (ACH) payments before it receives final settlement of the funds transfer. Any such credit is provisional until the credit union receives final settlement of the payment. You are hereby notified and agree, if the credit union does not receive such final settlement, that it is entitled to a refund from you of the amount credited to you in connection with that ACH entry.

Access Options: OptionTeller, PTA and Online Access

Personal Telephone Access

With Personal Telephone Access (PTA) service, you can have 24 hour access to your account through an audio response system simply by talking to the credit union's computer by pressing the buttons on a touch-tone phone. This service will provide account and loan inquiries, transfers between accounts, transfer of funds to make loan payments, and much more. To apply for this service, call our Member Service Center number on your statement, talk to a Branch Representative, or apply online.

Automated Teller Service

With OptionTeller® ATM service, there is no need to wait in teller lines or limit the hours you have to complete your financial needs. Most transactions can be completed by using the OptionTeller® ATM which offers 24 hour access any day of the week. Transactions available include balance inquiries, cash withdrawals, deposits, transfers, loan payments, loan advances, and credit card advances. Along with this service, national ATM access is available through many major networks. To apply for this service, call our Member Service Center number on your statement, talk to a Branch Representative, or apply online.

Online Access

Connect to the fast, FREE way to make your financial transactions! Online Access makes it simple to get account information, make transfers, and handle other account transactions from any computer with Internet access. It's like having an EECU branch right inside your computer. With just a few simple keystrokes or mouse clicks you can perform a wide variety of transactions. No driving to a branch. No waiting in line. Just connect to the Internet and you've go immediate Online Access to your accounts! To apply for this service, call our Member Service Center number on your statement, talk to a Branch Representative, or apply online.

FUNDS AVAILABILITY POLICY

Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. Electronic deposits will be available on the day we receive the deposit. Once the funds are available, you can withdraw them in cash, and we will use them to pay share drafts you have written.

For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and Federal holidays. If you make a deposit before 5:00 p.m. (or before 6:00 p.m. at our Automated Teller Machines) on a regular business day that we are open, the Credit Union will consider that day to be the day of your deposit. However, if you make a deposit after these cut-off times, or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

Same Day Availability - Funds from the following deposits consisting of items payable to you, endorsed by you and deposited with one of our tellers are available on the day of your deposit:

U.S. Treasury checks, U.S. Government Agency checks, California State, county, city or public agency checks that are payable to you.
Wire transfers.
Cashier's checks, counter checks, teller checks payable to you.
Checks drawn on Educational Employees Credit Union.
The first $100 from a deposit of any other checks deposited in person or to a proprietary (credit union) ATM.

Longer Delays May Apply - 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 you make your deposit. Depending on the type of check that you deposit, funds may not be available until the fifth business day after the day of your deposit. The first $100 of your deposits, however, may be available on the first business day.

If we are not going to make all of the funds from your deposit available on the first business day, 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. If you will need the funds from a deposit right away, you should ask us when the funds will be available.

In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:

We believe a check you deposit will not be paid.
You deposit checks totaling more than $5,000 on any one day.
You redeposit a check that has been returned unpaid.
You have overdrawn your account repeatedly in the last six months.
There is an emergency, such as failure of communications or computer equipment.

We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will 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.

Deposits at Automated Teller Machines - Funds from any deposit (cash or checks) made at automated teller machines (ATMs) we do not own or operate will not be available until the fifth business day of your deposit. The rule does not apply at ATMs we own or operate.

Foreign Checks - Checks drawn on financial institutions outside of the United States (foreign checks) cannot be processed the same as checks drawn on United States financial institutions. Foreign checks are exempt from the policies outlined in this policy. Generally, the availability of funds for deposit of foreign checks will be delayed for the time it takes us to collect the funds from the financial institutions upon which they are drawn.

Special Rules for New Accounts - If you are a new member, the following rules will apply during the first 30 days your account is open.

Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,000 of a day's total deposits of cashier's, certified, tellers, traveler's, and federal, state, and local government checks will be available on the first business day after the day of your deposit if the deposit meets certain criteria conditions. For example, the checks must be payable to you (and you may have to use a special deposit slip). The excess over $5,000 will be available on the ninth (9th) 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 $5,000 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 (9th) business day after the day of your deposit.

Accounts opened by new members will be subject to all other rules for funds availability mentioned in the other sections of this disclosure in addition to those stated in this section.

Your Liability - Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.

ELECTRONIC FUNDS TRANSFER AGREEMENT AND DISCLOSURE STATEMENT

The following will tell you about rights and responsibilities, yours and ours, when you use Electronic Funds Transfer (EFT) services offered or accepted by Educational Employees Credit Union. Please read the following carefully and retain a copy with your Credit Union records.

You agree that the retention and use of any plastic card, confidential Personal Identification Number (PIN) or other access device that EECU issues to you will be subject to the following terms. In the Agreement, "you" and "your" refer to any and all persons who have applied for and been issued any of the electronic services included in this agreement and any related PIN. "We", "us" and "our" refer to EECU. "Checking account" refers to EECU share draft accounts. "Savings account" refers to EECU share accounts.

By initiating inquiries and/or funds transfers through EECU's EFT services, you acknowledge receipt of this Agreement and Disclosure and agree to be bound by all terms and conditions contained herein, and all applicable terms and conditions contained in our other agreements with you governing your checking, savings, and loan accounts accessible in connection with this service. The terms and conditions of this Agreement and Disclosure are in addition to the terms and conditions of any and all other share accounts and credit agreements, including all such disclosures made pursuant to such agreements you have with the Credit Union.

Electronic Funds Transfer Services.The following services are offered or accepted by EECU and allow you to access your Credit Union account 24 hours a day, 7 days a week.

Automated Teller Machines (ATMs). EECU's ATM and Visa Check Cards can be used at EECU owned OptionTeller ATMs and similar facilities around the country. Any ATMs and facilities displaying the logos that are shown on your card and other such machines or facilities, as we may designate, are part of EECU's extensive network.

You may use your card to access the following services:

Withdraw cash from your checking, savings, or consumer line of credit account;
Make deposits to your checking or savings account;
Initiate funds transfers between your checking, savings, consumer line of credit or overdraft line of credit loan established under the same primary account number;
Access your overdraft line of credit or savings account to cover overdrafts on your checking account;
Gather account information.

Some of these services may not be available at all ATMs. A fee may be charged for certain transactions completed at network ATMs. See current Schedule of Fees.

Point of Sale Terminals. If you have a checking account with us you may use an ATM or VISA Check Card and Personal Identification Number (PIN) to purchase groceries, merchandise and gas at any location displaying the STAR© logo.

Other Debit Transactions.

The OptionTeller Plus Check Card bears the VISA logo but it is not a credit card.
The check card enables you to authorize the Credit Union to make payments from your Credit Union checking account without writing a check. You can use the card to pay participating merchants for goods or services, either through a point-of-sale terminal or by a signature transaction. You can also use it to obtain cash from ATMs displaying any of the network logos pictured on the back of your card.
You may also obtain cash advances from your checking account using your VISA Check Card at financial institutions participating in the Visa program.
Use of the card authorizes the Credit Union to charge your checking account for the full amount of the transaction plus any applicable service fees.

Overdraft Line of Credit. If you have an Overdraft Line of Credit, you are also requesting check card access to your line of credit by overdraft protection transfer.

Personal Telephone Access (PTA). Personal Telephone Access is EECU's touch-tone telephone service that allows you to access the following services:

Withdraw funds from your checking, savings, or line of credit accounts by check, made payable to you and mailed to your address on record at EECU;
Initiate funds transfers between your checking, savings, consumer line of credit or overdraft line of credit loan established under the same primary account number, or linked accounts;
Make loan payments on your account;
Find out which checks have cleared;
Verify your account balances;
And more.

PTA does not provide access to Visa Credit Card accounts.

Automated Clearing House (ACH) Deposits and Withdrawals. ACH allows you to establish preauthorized deposits and withdrawals from your EECU account. This service allows you to pay or receive recurring payments.

Electronic Checks. An e-check is a regular paper check you write, usually to a retail merchant, who converts the check into an electronic funds transfer at the point of sale.

Issuance and Confidentiality of Your Personal Identification Number (PIN). For purposes of this section, the words Personal Identification Number (PIN) shall also mean "Password".

ATM, Visa Check Card and PTA. We will issue a confidential PIN for access to ATM, Visa Check Card and PTA services. You may customize your ATM or Check Card PIN by visiting any branch. You can customize your PTA PIN using the PIN function on the PTA service.

PIN Security.

Your PIN is confidential and should NOT be disclosed to others or recorded on your plastic cards or records located on or around your cards or personal computer. Safeguard your PIN by keeping it a secret and storing it in your memory only.
You agree not to disclose or otherwise make your PIN available to anyone not authorized to conduct any transaction on your account that you could conduct yourself.
If you authorize anyone to use your PIN, that authority shall continue until you specifically revoke such authority by changing the PIN or by notifying the Credit Union and obtaining a replacement PIN.
You understand that if you reveal your PIN to anyone, you have authorized that individual to transfer and withdraw funds from any of your accounts which can be accessed by the PIN, regardless of whether that person is authorized to transfer or withdraw funds from the account(s) by any means other than by use of any EECU electronic services.

If you fail to maintain the security of your PIN and the Credit Union suffers a loss, we reserve the right to terminate electronic services to you under this Agreement and Disclosure as well as other Credit Union deposit and loan services.

Limits on Services. The following limitations for dollar amounts and number of transfers may apply in using the services listed above:

Dollar Amounts:
ATM Transactions. Your daily cash withdrawal limit ranges from $100 to $500 per day based upon your approval limits. This includes the combination of savings, checking or line-of-credit loan withdrawals.

Transfers at POS Terminals. The maximum amount you may purchase through POS transactions ranges from $100 to $2,500 per day, based on your approved limits. This includes POS purchases from ATMs (i.e. Travelers Cheques, postage stamps, etc.), as well as with participating merchants, (i.e. grocery stores, gas stations, etc.).

All ATM or VISA Check Card Transactions. The total amount of purchases and cash advances you may make using an ATM or Visa Check Card is limited by the available balance in your checking account, plus any funds available through the automatic overdraft protection plan, less any outstanding checks, items or ATM Visa Check Card authorizations not yet received or processed by us.

Limit on Number of Non-Personal Transfers from Non-Transaction (Savings) Accounts. Federal regulation requires that during any monthly statement period, you may not make more than six transfers from any savings account to another of your Credit Union accounts, or to a third party, by means of electronic transfer via Online Access, PTA, preauthorized or automatic transfer or facsimile machine. Transfers to make payments on your loans at the Credit Union or withdrawals by check are excluded from this limitation. There is no limit on the number of non-personal transfers or withdrawals you can make from your checking accounts nor is there a limit on the number of non-personal transfers you can make into your savings accounts.

Allowable Transactions. OptionTeller ATM, OptionTeller VISA Check Cards, and other Credit Union EFT services cannot be used for any illegal transaction such as unlawful gambling. To the extent that it is used for an illegal purpose, we do not assume any responsibility for the transaction and are held harmless from any damages. We reserve the right to decline illegal transactions and, if we become aware, cancel your use of the service. The display of a VISA logo on an Internet site does not necessarily mean that the service or product offered is legal in the state in which you reside.

Stop Payments.

You may not stop payment on any POS transfer or other ATM or VISA Check Card transaction once you have completed your transaction with the merchant.
A Stop Payment order cannot be placed once a PTA transfer has been initiated by you and accepted by the system. If you have made a transfer in error, you must reverse the transaction by initiating a correcting transfer. (Note: Transfers cannot be corrected when made as transfer/payments to closed-end loan accounts or on withdrawals in which a check is issued to you. Contact the Credit Union if you require reversal of these transactions or need additional assistance.)

E-Mail Capabilities and Limitations. The Credit Union will not immediately receive and review E-Mail messages that you send and will NOT process any request for a funds transfer received via E-Mail.

Further, the Credit Union may not act upon requests where the Credit Union would normally require written notification or your authorizing signature, without first confirming the authenticity of the E-Mail request/notification via telephone. These may include the following:

Stop payments,
Requests for replacement PINs,
Reports of lost or stolen PINs or unauthorized transactions (refer to "Member's Responsibility and Liability for Unauthorized Transfers" for appropriate action),
Reports of lost or stolen ATM or VISA Cards.

In some instances, written confirmation reflecting your authorizing signature may still be required. The Credit Union will not take action based on other E-Mail requests until the Credit Union actually receives your message and has a reasonable opportunity to act.

Fees. We will charge you for each transfer, withdrawal, and balance inquiry you make at an ATM not owned by EECU (or part of the Co-Op network). Fees are listed in the EECU Schedule of Fees which is incorporated by reference.

When you use an ATM not owned by EECU, you may be charged a fee by the ATM operator and you may be charged a fee for a balance inquiry even if you do not complete a funds transfer.

Non-Sufficient Funds Transactions. A NSF fee as shown on the Schedule of Fees will be charged to your account for every non-sufficient funds POS or ACH withdrawal transaction. We may consider paying your POS or ACH NSF items through our Platinum Overdraft Program. Platinum Overdraft means that we may, at our sole discretion, pay an item over the amount available in your checking account in anticipation that you will make an immediate deposit to bring your checking account to a positive balance.

The NSF fee will be charged regardless of whether the NSF transaction is paid or not. Platinum Overdraft is a member service and we are under no obligation to pay items when your account has non-sufficient funds, even if previous NSF transactions were paid.

Receipts, Statements and Notices. You will receive receipts, statements, and notices, according to the type of service you use, so you'll have a record of your electronic funds transfers.

Receipts. A receipt will be made available when any ATM, POS or other debit transaction identified in this document is completed. Keep the receipt for your records. If you opt not to receive a receipt, your only record of the transaction will be your monthly account statement.

Pre-authorized Transfers. You can use PTA, Online Access or call us at the numbers listed in the section "How to Contact Us" to find out whether or not the deposit has been made.
Periodic Statements. You will be mailed a monthly account statement if using any EFT services. At your option, you may sign up for eStatements, which will provide you with electronic instead of paper account statements. You must have Online Access and e-Mail Services to sign up for eStatements.

Notices. Any notice required or appropriate will be sent to the address on record at EECU or may be provided electronically if you have elected to sign up for our eStatement service. Notices may be included with account statement, EECU publications, or other EECU mailings.

Stopping Pre-authorized Transfers, Reporting Errors or Questions. To stop payment of a pre-authorized transfer from your account, to report errors and to ask other questions, call us at the numbers listed in the section "How to Contact Us."

Stopping Pre-Authorized Transfers. In order to stop a preauthorized debit or credit transfer, you are required to contact the originator of the transaction. Then call or write us using the telephone number and address given in the section "How to Contact Us," in time for us to receive your request three (3) business days or more before the transfer is scheduled to be made. If you call, we may also require you to put your request in writing to be received within 14 days after you call. A fee will be assessed for each stop payment request. (See current Schedule of Fees.) The fee will be debited from your checking account. If you follow these instructions, and we are unable to stop the preauthorized debit or credit transfer, we will be liable for your losses or damages in accordance with the law.

Errors and Questions. If you think your account statement or receipt is wrong or if you need more information about a transfer listed on your statement or receipt call or write us using the telephone number and address given in the section "How to Contact Us." We must hear from you no later than sixty (60) days after we sent you the FIRST statement on which the problem or error appeared.
- Tell us your name and account number.
- Describe the error or 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.
- Tell us the dollar amount and the date of the suspected error.

If you tell us verbally, we may require that you send us your complaint or questions in writing within 10 business days. We will tell you the results of our investigation within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or questions. If we decide to do this, we will re-credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes to complete our investigation. If we ask you to put your complaint or questions in writing and we do not receive it within 10 business days, we may not re-credit your account. For errors involving new accounts, Point of Sale (POS), foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. If, after our research, we determine that there is not an error, we will send you a written explanation within three (3) business days after we finish our investigation. We will debit the provisional credit. You may ask for copies of the documents that we used in our investigation.

If you use your ATM card or other access device for direct access to your consumer line of credit, the procedures for resolving errors are those disclosed in our Master Loan Agreement and Disclosure.

Disputes With Merchants Concerning Goods & Services. You agree to indemnify the Credit Union and hold it harmless from any and all claims, damages or liability related to merchant disputes.

Loss or Theft of Your Card or Unauthorized Use of Your Account Through Electronic Means. If you believe your card(s), Personal Identification Number (PIN), or password has been lost or stolen, contact us immediately, any time of day and any day of the week. If you believe that someone has withdrawn or may withdraw money from your account without your permission, contact us immediately.

How to Contact Us.
Call us at (559) 437-7700 or
Toll free at 1-800-538-EECU
Member Service Center Hours
7 a.m. - 7 p.m. Monday - Friday; Saturday 9 a.m. to 1 p.m.
(excluding legal holidays)

Evening or Weekends
For lost, stolen or unauthorized use of an OptionTeller ATM or Visa Check Card
1-800-449-7728
Outside U.S. 1-410-581-9994(collect call)

For lost, stolen or unauthorized use of a Visa Credit Card
1-800-VISA-911
Outside U.S. - 410-581-9994 (collect call)

Write us at
Educational Employees Credit Union
P.O. Box 5242
Fresno, CA 93755-5242

Your Liability for Lost/Stolen Cards or Password. Tell us AT ONCE if you believe your card(s), Personal Identification Number, or password have been lost or stolen. 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 you fail to notify us immediately.

Liability for Unauthorized Use of all Electronic Services Except VISA Check Cards.

If you tell us within two (2) business days of learning that your card was lost or stolen, you can be held responsible for no more than $50.
If you do NOT tell us within two business days after you learn of the loss or theft and we can prove we could have stopped someone from using your EFT services without your permission if you had told us, you could be held responsible for as much as $500.
If your account statement shows a transfer which you did not make, again, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days, if we can prove that we could have stopped someone from taking money if you had told us in time. If a good reason (such as a long trip or hospital stay) kept you from telling us, we may extend the time periods.
If a loan account is accessed indirectly via an overdraft protection advance due to an unauthorized overdraft on your checking account, the points above will govern your liability. If your electronic access device is used for direct access to your consumer line of credit, the procedures for resolving errors and your liability limits for unauthorized use are explained in your Master Loan Agreement and Disclosure.

Liability for Unauthorized VISA Check Card Transactions.

You agree to report the loss, theft or possible unauthorized use of your card promptly by calling us or writing to us as shown in the "How To Contact Us" section. Calling is the best way to keep losses down. Per VISA operating rules, you will generally have no liability for unauthorized use of your card. However, it benefits all Credit Union members if losses due to unauthorized use claims are kept to a minimum.
The zero liability rule does not apply to certain point-of-sale and ATM transactions as set forth in VISA operating rules. If the unauthorized use of your VISA Check Card occurs at a point-of-sale terminal or ATM and VISA operating rules state that you may be liable for the unauthorized use, your liability is determined as follows: (1) You are not responsible for unauthorized use of your card or PIN that occurs after you report the loss or theft to us. (2) If you report the loss or theft of your card or PIN to us within two business days, your liability is limited to $50. (3) If you wait more than two days to report the loss of theft of your card or PIN, you could be liable for up to $500 in unauthorized use if we can prove that we could have stopped the unauthorized use of your card or PIN if you had told us sooner. (4) You must report unauthorized use of your card or PIN within 60 days after we sent you the first statement on which it appeared. If you wait more than 60 days, you may be responsible for any unauthorized use that occurs after the end of the 60-day period, if we can prove that we could have stopped the unauthorized use if you had told us sooner. This means that you can lose all of the money in your accounts and your maximum overdraft line of credit. If a good reason, such as a long trip or a hospital stay prevented you from reporting the loss, theft or unauthorized use of your card or PIN, we may extend the time periods.

EECU's Liability If Transfers or Transactions Are Not Made as Agreed.

Exceptions. If we do not properly complete a transaction according to our agreement with you, we will be liable for your direct losses or damages. However, there are some exceptions.

We will not be liable if:

Through no fault of ours, you do not have enough money in your account to make the transfer.
You are in default on an account where you are attempting a transfer.
The transfer exceeds the limit on your consumer line of credit.
Your card was reported missing and we have blocked the account.
The ATM where you are making the transaction does not have enough cash.
The terminal was not working properly and you knew about the breakdown when you started the transfer.
The money in your account is subject to legal process, an uncollected funds hold or is otherwise unavailable for withdrawal.
There are other lawful exceptions established by the Credit Union and you are given proper advance notice of them.

In no event will the Credit Union be liable for consequential indirect costs or damages.

We will follow your instructions. The Credit Union will carry out instructions given to the ATM or other access device by the member or authorized party. We will not incur liability for doing so in a reasonable manner. You agree to indemnify and save the Credit Union harmless from all costs, claims, damages or liabilities which we sustain as a result of carrying out instructions received through any electronic access device by you or any authorized parties in a reasonable manner. If the transaction results in your being indebted to the Credit Union, you agree to repay to us any sum you owe us. You agree to pay to us all costs we incur in attempting to collect such sums from you, including our reasonable attorney's fees and court costs if we have to file a lawsuit against you, proceed against you in bankruptcy court, file an appeal, collect a judgment we have obtained against you, or otherwise take legal action to collect what you owe us.

ATM Safety. You should exercise discretion in your use of ATMs. The Credit Union is not responsible for the wrongful acts committed by anyone who is not an authorized agent or employee of the Credit Union regarding your use of ATMs. Report all crimes to local law enforcement officials immediately. We do not guarantee your safety while using the ATM.

System Unavailability. Access to EFT services may be unavailable at certain times for the following reasons:

Scheduled Maintenance - There will be necessary periods when systems require maintenance or upgrades;
Unscheduled Maintenance - EFT services may be unavailable when unforeseen maintenance is necessary; or,
System Outages - Major unforeseen events, such as, but not limited to, earthquakes, fires, floods, computer failures, interruptions in telephone service, or electrical outages, may cause system unavailability.

The Credit Union will make all reasonable efforts to ensure the availability of EFT services. However, the Credit Union is in no way liable for the unavailability of EFT services or any consequential damages that may result.

Disclosure of Account Information. We regard your business with us, and information about your account, as confidential. However, EECU may disclose information to third parties regarding your account or transfers only:

With your written permission;
To administer the products & services we provide;
As required or permitted by a lawful request;
To third parties that have a legitimate need for the information such as credit bureaus;
When we partner with other businesses to offer a broader array of products and services.

EECU's Business Days. Our business days are Monday through Friday. Legal holidays are not included.

Funds Availability and Accrual of Dividends. Funds from electronic funds transfer credits/deposits will be available on the effective date of the transfer in accordance with our Funds Availability Policy. Dividends begin to accrue on the effective date of the transfer.

Termination of This Agreement.
EECU can change the terms of this agreement by providing 21 days advance written notice to you at your last known address in our records.

EECU can terminate this Agreement and your use of EFT services without prior notice if any of the following occur:

You or any authorized user of your EFT services breaches this or any other agreement with EECU;
We have reason to believe that there has been or may be unauthorized use of your ATM card or PIN;
There are conflicting claims to funds in your account(s);
You or any authorized signer on your account asks us to do so. Whether you or the Credit Union terminate this Agreement and Disclosure, the termination shall not affect your obligations under this Agreement and Disclosure for any transfers or payments made prior to termination. You agree to return any access device EECU has issued to you upon termination of this Agreement by you or by us.

Precautions When Using ATMs or Related Devices.

ATM Safety:

Be aware of your surroundings. Avoid poorly maintained or poorly lighted locations. If you see anyone or anything suspicious, leave the area immediately.
Bring a friend when using an ATM or night deposit facility after dark.
Be prepared. Have your card ready before approaching the ATM.
Shield the ATM keyboard with your body so others cannot observe you entering your Personal Identification Number (PIN).
Cancel the transaction and put away your card if a suspicious situation develops.
Put away your money and receipt right after the transaction is complete. Count the cash later.
If you are followed after leaving an ATM, go to a heavily populated, well-lighted area and call the police.

OptionTeller and OptionTeller Plus Check Card Tips:

The OptionTeller Plus card bears the VISA logo but it is not a credit card. This card will access your checking account with a PIN or signature depending upon the circumstances.
Treat your VISA Check Card like cash.
Memorize your PIN. Never write it on your card or on anything you carry with your card.
Never tell your PIN to anyone.
Be wary of giving out account information over the phone.
Don't withdraw money for an "official" person. No official would ask you to withdraw money for any reason.
Keep your transaction receipts and verify each one against your statements. If you find an unexplained transaction, notify the Credit Union immediately.
Report a lost or stolen card to the Credit Union as soon as you discover it is missing.