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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. 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. 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. 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 $1 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. 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. 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: 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 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. 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. 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. 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. 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. 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. 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. To encourage savings, the Board of Directors has adopted a tiered dividend rate structure. $ 0 - 249.99 (No dividend on this range) 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 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 - will be charged for each non-personal transfer and may be charged for closing an account in accordance with our Schedule of Fees. Tiered Earnings for Share Suffix Number 6 $ 0 - 249.99 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 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. Tiered earnings for checking share suffix 8 $ 0 - 499.99 (No dividend on this range) 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: $5 monthly. Second Chance Checking: $10 monthly. NSF Item: $20 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. 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. 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. 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. 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. Waiver of Penalties - The penalties will be waived if the withdrawal is made: 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: Credit union shares and accumulated dividends earned thereon will escheat to the State Controller of California if: 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: 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. 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: 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: 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 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. 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. You may use your card to access the following services: 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. PTA does not provide access to Visa Credit Card accounts. Issuance and Confidentiality of Your Personal Identification Number (PIN). For purposes of this section, the words Personal Identification Number (PIN) shall also mean "Password". 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: 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.). 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: 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. 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. Evening or Weekends For lost, stolen or unauthorized use of a Visa Credit Card Write us at 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. EECU's Liability If Transfers or Transactions Are Not Made as Agreed. We will not be liable if: In no event will the Credit Union be liable for consequential indirect costs or damages. System Unavailability. Access to EFT services may be unavailable at certain times for the following reasons: 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: 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 terminate this Agreement and your use of EFT services without prior notice if any of the following occur: Precautions When Using ATMs or Related Devices. ATM Safety: OptionTeller and OptionTeller Plus Check Card Tips: 2000© Greene and Allison. All rights reserved. Rev. 07/05MASTER ACCOUNT DISCLOSURE
INTRODUCTION
Account Agreement
Transactions
Overdraft Protection
Non-Sufficient Funds Items
Stop Payment
Post Dated Checks
General Terms and Conditions
Terms and Conditions Applicable to Joint Accounts
Share Insurance
Voting Privileges
Business Days
TRUTH-IN-SAVINGS DISCLOSURE
Regular Share and Sub-Share Accounts (Savings)
Tiered Earnings for Share Suffix Numbers 0, 2, 3, 4, 7
250 - 2,499.99
2,500 - 4,999.99
5,000 - 7,499.99
7,500 - 9,999.99
10,000 – Over
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.Minor Share Account (Savings)
250 - 2,499.99
2,500 - 4,999.99
5,000 - 7,499.99
7,500 - 9,999.99
10,000 – Over
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)
500 - 1,999.99
2,000 - 4,999.99
5,000 – OverHoliday Wise Club 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.
IRA Savings Account
Share/IRA Certificate
Nature of Dividends - Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.
ELECTRONIC FUNDS TRANSFER AGREEMENT AND DISCLOSURE STATEMENT
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.
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.
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."
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)
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)
1-800-VISA-911
Outside U.S. - 410-581-9994 (collect call)
Educational Employees Credit Union
P.O. Box 5242
Fresno, CA 93755-5242
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.
