Electronic Funds Transfers Disclosures

Effective August 23, 2021

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 share draft or share accounts;
  • Withdrawals from your share draft account through the use of your debit card 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 debit card;
  • Transfers of funds at an ATM between your share draft and share accounts associated with your debit card;
  • You may access your account(s) through the Internet twenty-four (24) hours a day at www.whitercu.com, MobiCint (Internet banking), using your personal Password, Internet Service Provider, and your Logon Identification Number.For increased security, the WRCU encourages you to periodically change your “Log In” password.
  • You can purchase goods, pay for services or authorize a merchant or service provider to convert your draft (check) into an Electronic Fund Transfer;
  • At the time you offer a draft to a merchant or service provider, you may be asked to authorize the merchant or service provider to electronically collect a charge in the event the draft is returned for insufficient funds.

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.

A.   The following information applies to debit card 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, PLUS, Pulse, Visa, MasterCard, etc. (these may change from time to time). 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.
  • We will charge you $30.00 for each withdrawal or transfer at an ATM, or a POS transaction, which causes your share draft account to have a negative available balance and $5.00 per day that an account remains negative after the 5th day.
  • We will not charge you for POS transactions that you sign for or use your PIN.
  • We will not charge you for deposits or transfers initiated by you at an ATM machine.
  • In the event an ATM transaction causes your account to go below the account’s required minimum balance, we will transfer from either share or share draft to cover the deficiency. We will send you a receipt for this transfer. A fee of $2.00 will be assessed for each transfer.
  • You agree to only withdraw up to your authorized daily cash limit at any machine.  You also agree to only make purchases up to your authorized daily purchase limit.
  • 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.

Liability for Unauthorized Use.  If you believe your debit card 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 either:  (802) 767-3333, (802) 234-9232, (802) 728-9228 or 800-891-3332, between 8:30 AM and 4:30 PM; During off business hours, by calling 888-263-3370 (this connects you to the outside service vendor that assists us in providing you with your debit card); Or by writing:  WRCU, PO Box 419, Rochester, VT   05767-0419.

Contact us AT ONCE if you believe your card and/or pin has been lost or stolen.  Telephoning is the best way to reduce your possible losses.  If you believe your card and/or pin has been lost or stolen, and you tell us within 2 business days after you learn of the loss or theft, you can lose no more than $50 if someone used your card and/or pin without your permission.

If you do NOT tell us within 2 business days after you learn of the loss or theft of your card and/or pin, and we can prove we could have stopped someone from using your card and/or pin without your permission if you had told us, you could lose as much as $500.

Also, if your statement shows transfers that you did not make, 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, if we can prove that we could have stopped someone from taking the money if you had told us in time.

B.  The following information applies to debit cards 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.

C.   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 share draft 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 share draft accounts, or to receive pre-authorized electronic funds transfers directly from your share or share draft 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, 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 either:  (802) 767-3333, (802) 234-9232, (802) 728-9228 or 800-891-3332, between 8:30 AM and 4:30 PM; Or by writing:  WRCU, PO Box 419, Rochester, VT   05767-0419.

A stop payment request is conditional and subject to the Credit Union’s verification 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.  A fee of $20.00 will be charged 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.

D. 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 or 800-891-3332, between 8:30 AM and 4:30 PM, Monday through Friday; fax us at (802) 767-3046 (please be sure to sign the facsimile); or write to us at:  WRCU, PO Box 419, Rochester, VT 05767-0419 as soon as possible, 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 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 10 business days.  If we decide that there was no error, we will send you a written explanation within 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 10 business days (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 45 days (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 10 days (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 10 business days, we may not give you provisional credit.

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