Electronic Funds Transfers Disclosure

These are required disclosures under the Electronic Funds Transfers Act. Please read and keep this information. These disclosures supersede all previous disclosures to you concerning electronic funds transfers.

Types of Available Transfers. The following types of electronic funds transfer services are available at the White River Credit Union (WRCU):

Direct deposit of funds to your share draft (checking) or share accounts;
Preauthorized automatic withdrawals from your checking or share accounts;
Withdrawals from your checking account through the use of your CU CheckCard including transactions initiated at point-of-sale (POS) terminals for the purchase of goods or services or the receipt of funds;
Withdrawals from your share account through the use of your CU CheckCard;
Transfers of funds at an ATM between your checking and share accounts associated with your CU CheckCard;
You may access your account(s) through the Internet twenty-four (24) hours a day at www.whitercu.com, E-Credit Union (on-line banking) using your personal Password Internet Service Provider, and your Logon Identification. For increased security, if you do not use this service for three (3) consecutive months, your Logon Identification and personal Password will be deleted from our systems. (To begin using this service again you will be required to go through the enrollment process.)
You can purchase goods or pay for services and authorize a merchant or service provider to convert your check or draft into an Electronic Fund Transfer;
At the time you offer a draft (check) to a merchant or service provider, you may be asked to authorize the merchant or service provider to electornically collect a charge in the event the draft (check) is returned for insufficient funds.

Note: Under Federal Reserve Board Regulation D, telephonic (including data transmission and preauthorized transfers from your share account to another one of your accounts with us or to third parties) are limited to a total of six (6) per month, no more than three (3) of which can be made by check, debit card or similar order payable to third parties. Automated Clearing House (ACH) debits, internal funds transfers and transfers to cover overdrafts are included when calculating the number of transactions subject to this limitation. Withdrawals or transfers made in person, by ATM, by mail or by messenger are not limited. Limitations do not apply to transfers from your account to make a payment on a loan with us or to withdrawals made by telephone (via check mailed to you).

A. The Following Information Applies to CU CheckCard transactions:

We will charge you $1.00 for each transaction you make using an automated teller machine (ATM) owned or operated by our affiliated foreign network, including but not limited to CIRRUS, NYCE, MasterCard, etc. (these may change from time to time).
We will charge you $27.00 for each withdrawal or transfer at an ATM, or a POS transaction, which causes your share or share draft account to have a negative balance.
You will be allowed five free transactions per month that are made in the Falcon Cooperative ATM network, which are ATMs displaying the "Falcon" symbol. After five transactions per month made in the Falcon Cooperative ATM network, we will charge you $.50 for each transaction.
You will be allowed five (5)free point-of-sale (POS) transactions per month where you use your PIN (Private Identification Number). After five (5) POS transactions where you use your PIN, we will charge you $.50 for each transaction.
We will not charge you for POS transactions that you sign for (instead of using your PIN).
We will not charge you for deposits or transfers initiated by you at an ATM machine.

2. Your card may be used with your Personal Identification Number (PIN), which you agree not to divulge to anyone. Do not write the PIN on your card, or keep a written record of your PIN with your card. Do not allow anyone else to use your card. If you disclose your PIN, the Credit Union will not be responsible for any of your losses.

B. The following information applies only to CU CheckCards when used in the Falcon Cooperative ATM Network (as defined in Sec. A-1.).

1. You may use your CU CheckCard to:

Withdraw cash from your accounts;
Make deposits to your accounts (where accepted);
Transfer funds between your accounts;
Pay for goods or services at point-of-sale terminals from your checking account;
Pay for goods or services at participating merchants from your checking account.

2. You agree to only withdraw up to your authorized daily cash limit at any machine in the Falcon Cooperative ATM Network. You also agree to only make purchases up to your authorized daily purchase limit.

3. Liability for Unauthorized Use. If you believe your CU CheckCard has been lost or stolen, or that your Personal Identification Number (PIN) has been used without your permission, or that someone has transferred or may transfer money from your account without your permission, you must notify us at once:

During business hours Monday through Friday, by calling: (802) 767-3333, (802) 234-9232 or 800-891-3332, between 9:00 AM and 5:00 PM. Off business hours, by calling Midwest Payment Systems Client Services Department/Mastercard Area, 800- 528- 2273 (this connects you to the outside service vendor that assists us in providing you with your CU CheckCard);

Or by writing: WRCU, PO Box 419, Rochester , VT 05767-0419.

Contact us AT ONCE if you believe your card and/or code has been lost or stolen. Telephoning is the best way to reduce possible losses. If you believe your card and/or code has been lost or stolen, and you tell us within two (2) business days after you learn of the loss or theft, you can lose no more than $50.00 if someone uses your card and/or code without permission.

If you do NOT tell us within two (2) business days after you learn of the loss or theft of your card and/or code, and we can prove we could have stopped someone from using your card and/or code without your permission if you had told us, you could lose as much as $500.00.

Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within sixty (60) days after the statement was mailed to you, you may not get back any money you lost, if we can prove that we could have stopped someone from taking the money if you had told us in time.

4.You will get a receipt at the time you make any transfer to or from your account using an ATM. You have the right to receive a receipt for any transaction at any participating merchant or financial institution.

5. If we do not complete a transfer to or from your account on time, or in the correct amount according to our agreement with you, we may be liable for your losses or damages. We will not be liable in the following situations:

If, through no fault of ours, you do not have enough money in your account;
If the transfer would cause you to exceed your credit limit;
If circumstances beyond our control prevent the transfer;
If you fail to enter your correct PIN into the ATM, or if you fail to use the machine correctly;
If your account is subject to legal process or encumbrance restricting the transfer;
There may be other exceptions stated in our agreement with you.

C. The following information applies to CU CheckCards when used at other affiliated networks.

1. You may use your CU CheckCard at affiliated networks' ATMs only to:

Withdraw cash from your accounts,
Transfer funds between your accounts,
Pay for goods and services at POS (point-of-sale) terminals from your share draft account, or
Pay for the purchase of goods and services at participating merchants from your share draft account.

Some of these services may not be available at all terminals.

2. You agree to only withdraw up to your authorized daily cash limit at affiliated networks' ATMs and to only make purchases up to your authorized daily limit.

3. Liability for Unauthorized Use - See B.3.

D. The following information applies only to pre-authorized electronic funds transfers to and from your Credit Union accounts.

1. You may authorize us in writing to make preauthorized electronic funds transfers in fixed or varying amounts from your share or checking accounts. We will provide you with a copy of any such authorization. If you authorize third parties to make pre-authorized electronic funds transfers directly to your share or checking accounts, or to receive pre-authorized electronic funds transfers directly from your share or checking accounts, we will accept such transfers for credit to your account, and we will honor any written agreement to transfer funds from your account.

2. Your monthly share or share draft account statements will show preauthorized electronic funds transfers to and from your Credit Union account.

3. If we have, or any third party has, any agreement with you to make regular preauthorized payments from your account that may vary in amount, we or the party being paid will inform you, ten (10) days before each payment, the amount and date it will be made. If the third party fails to notify you as we have indicated, please contact us. Alternatively, you may choose to be notified only when the payment would differ by more than a certain amount from the previous payment, or when the amount falls outside limits that you set.

4. To stop or cancel any preauthorized payment, you must notify us at least three (3) business days or more before the payment is scheduled to be made by:

Calling us during business hours Monday through Friday at: (802) 767-3333, (802) 234-9232 or 800-891-3332, between 9:00 AM and 5:00 PM.

Of by writing: WRCU, PO Box 419, Rochester , VT 05767-0419

A stop payment request is conditional and subject to the Credit Union's verificiation that the Item has not already been paid or that some other action to pay the Item has not been taken. A stop payment order will lapse within fourteen (14) calendar days unless confirmed in writing within that time. A written stop payment order will be effective for six (6) months. A written stop payment order may be renewed in writing. We may charge a fee of $8.00 for each stop payment order.

5. If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we may be liable for losses or damages. However, there are some exceptions as cited in section B-5. If you order us to stop a preauthorized payment in three (3) business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

E. The following is general information in regards to electronic fund transfers.

1. We will disclose information to third parties about your account or transfers:

When it is necessary for completing transfers;
In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant;
To public accountants doing an audit or any other person under our control helping us to maintain our records;
In order to comply with government agency or court orders;
If you give us written permission. (We cannot release your account number for marketing purposes even with your permission).

2. In Case of errors or questions about your electronic transfers, call: (802) 767-3333, (802) 234-9232 or 800-891-3332, between 9:00 AM and 5:00 PM, Monday through Friday, or write: WRCU, PO Box 419, Rochester , VT 05767-0419 as soon as you can, if you think your statement or receipt is wrong, or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than sixty (60) days after we have sent the first statement on which the problem or error appeared. You must provide the following information:

Your name and WRCU account number;
The date and dollar amount of the transaction;
Description of the error or the transfer you are unsure about with an explanation why you believe it is an error.

If you tell us orally, we may require that you send us your complaint or question in writing within ten (10) business days. If we decide that there was no error, we will send you a written explanation within three (3) business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. We will inform you of the results of our investigation within ten (10) business days (twenty (20) business days in the case of a transfer from a point-of-sale terminal or a transfer initiated outside the United States ) and we will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days (ninety (90) business days in the case of a transfer initiated outside the United States) to investigate your complaint or question. If we decide to do this, we will give you provisional credit within ten (10) days (twenty (20) business days in the case of a transfer from a point-of-sale terminal or a transfer initiated outside the United States) for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint in writing and we do not receive it within ten (10) business days, we may not give you provisional credit.

3. Our business days are Monday through Friday. Holidays are not considered business days.

Electronic Funds Transfers Disclosure

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