This Agreement and Disclosure is made in compliance with federal law regulating electronic funds transfer (EFT) services. Electronic funds transfers are electronically initiated transfers of money involving an account at Catholic Federal Credit Union. The following disclosures set forth your and our rights and responsibilities concerning the electronic funds transfers. In this Agreement, the words "you" and "your' mean those who sign as applicants or any authorized user (s). The words "we", "us" and "our” mean Catholic Federal Credit Union. The abbreviation "PIN" or word "password” means a personal identification number or code word. Types of transactions include, either alone or in association with one another include:
You may use the automated teller machine (ATM) card and PIN issued to you to initiate transactions at ATMs of ours, ATMs within the networks identified on your card and such other facilities as we may designate. Unless you specify a different account during ATM transactions, your Prime Daily Savings will be used for your transactions.
Limitations on Frequency and Amount: You may withdraw up to a maximum of $500 (If there are sufficient funds in your account) in one day. For security purposes, there are limits on the frequency and amount of transfers you may make at ATMs. Point-of-Sale (POS) and/or PIN transactions are limited to $1,000 in one day.
Fees and Charges for ATM Transactions: Unlimited free withdrawals at our on-site ATM locations.
Your debit card can be used to pay for purchases at many merchants in place of writing a check. You can use your card for POS or debit payment anywhere MasterCard is accepted. Your purchase will be automatically deducted from your checking account.
Liability for Unauthorized Debit Card and POS Transactions. Tell us, AT ONCE, if you believe your debit card has been lost or stolen or of any unauthorized transactions. Your liability for unauthorized use of your debit card when it is used as a POS debit card will not exceed (A) Zero dollars ($0.00) if the conditions set forth below have been met, or (B) if those conditions have not been met, the lesser of fifty dollars ($50.00) or the amount of money, property, labor, or services obtained by the unauthorized use before notification to us. Zero liability will apply only if: (1) you can demonstrate that you have exercised reasonable care in safe-guarding your card from risk of loss or theft; and (2) you have not reported two or more incidents of unauthorized use to us within the preceding twelve (12) months and (3) your account is in good standing.
These consumer liability limits apply only to United States issued MasterCard branded consumer cards. If the transaction does not meet the conditions set forth above, these limits with respect to unauthorized transactions may be exceeded to the extent allowed under applicable law (see Liability for Unauthorized Transfers paragraph below).
'Unauthorized user’ means the use of your point of sale debit card by a person, other than you, who does not have actual, implied, or apparent authority for such use, and for which you receive no benefit. To notify us of lost or stolen cards, or of unauthorized transactions, call or write to us at the telephone number or address set forth below. This will help prevent unauthorized access to your account and minimize any convenience. MasterCard is a registered trademark of MasterCard International Incorporated.
Consumer Liability. Tell us at once if you believe your card or PIN has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission using information from your check. 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 tell us within 2 business days after you learn of the loss or theft of your card or PIN, you can lose no more than $50 if someone used your card 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 or PIN and we can prove we could have stopped someone from using your card 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, including those made by card, PIN or other means, 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, providing we can prove that we could have stopped someone from taking the money had you told us in time
If you believe your card/PIN has been lost or stolen call or that someone has transferred money or may transfer money from your accounts without your permission contact the credit union at (800) 798-2328 or write CFCU Accounting Department at P.O. Box 6338, Saginaw, MI 48608. You should also call the number or write to the address listed above if you believe a transfer has been made using the information from your check without your permission.
Personal Identification Number (PIN). The ATM PIN or POS PIN issued to you is for your security purposes. The numbers are confidential and should not be disclosed to third parties or recorded on the card. You are responsible for safekeeping your PIN(s). You agree not to disclose or otherwise make your ATM PIN or POS PIN available to anyone not authorized to sign on your accounts.
Termination of ATM and POS Services.
You agree that we may terminate this Agreement and your use of the ATM Card or POS services, if:
We provide Home Banking services to our members through CU-Online. CU-Online is available through the Internet, 24 hrs a day.
CU Online is available virtually around the clock, seven days a week. Due to computer scheduling, there will be times when CU Online will be unavailable, or times when only account inquiries will be possible. This most likely times this may happen is 6:30-8:30am on business days, and all evening on the last day of the month.
You understand that the Credit Union reserves the right to discontinue your access to CU Online without notice and will not be liable for failure to honor any CU Online transactions. Transactions made on CU Online are binding only after verification by the Credit Union.
The total dollar amount of transactions by CU Online is subject to limits set by the Credit Union, and sufficient verified funds must be available to satisfy transaction instructions.
There is no charge to access CU Online at this time. The Credit Union reserves the right, however, to impose service charges at a future date if notice is given. Amendments to this Agreement may be provided to you in accordance with applicable laws, without restatement of the terms.
In order to utilize Express Telephone for your accounts, you will be assigned a separate PIN. You understand that you must use your PIN along with your account number to access your accounts. At present time, you may use Express Telephone to:
You are responsible for the safekeeping of your E.T. PIN and will not permit unauthorized use of it. If your PIN is disclosed to anyone other than a joint owner on your account, you will notify the credit union immediately and send written confirmation. You understand that you are responsible for any transactions completed by anyone to whom you have disclosed your PIN. You waive all claims against the credit union for loss or damage not caused by the credit union’s negligence, which you might incur through unauthorized use of your PIN.
E.T. is available virtually around the clock, 7 days a week. Due to computer scheduling, there will be times when E.T. will be unavailable, or times when only account inquiries will be possible. The most likely time this may happen is between 6:30 a.m. – 8:30 a.m. on business days, and all evening on the last day of the month. You understand that the credit union reserves the right to discontinue access to E.T. without notice and will not be liable for failure to honor any E.T. transactions. Transactions made through E.T. are binding on the credit union only after verification by the credit union.
The total dollar amount of transactions by E.T. is subject to limits set by the credit union and sufficient verified funds must be available to satisfy transaction instructions. There is no charge for access to E.T. at this time. The credit union reserves the right, however, to impose service charges at a future date if proper notice is given. Amendments to this Agreement may be provided to you, in accordance with applicable laws, without restatement of the terms.
Electronic Check Conversion. You may authorize a merchant or other payee to make a one-time electronic payment from your checking account using the information from your check to (i) Pay for purchases or (ii) Pay bills
Access Device. An access device is a card, PIN or other means of access to a consumer’s account, or any combination thereof, that may be used by the consumer to initiate EFTs. A check used to capture information is considered an access device, unless it is used to capture MICR (Magnetic Ink Character Recognition) encoding to initiate a one-time ACH debit. The transaction is covered under Regulation E, even if the check is not an access device.
We provide Mobile Banking to our members. This is a convenient way for members to have handheld access of their account details. Mobile Banking is a service that uses a wireless Internet connection on your mobile phone and/or text messaging to access your credit union account information. WAP, APP & Text Banking are available for members to utilize. There is no charge to access Mobile Banking. Standard text messaging fees may apply through your cell phone carrier for members using text banking.
Enrollment. Members log into their CU-Online Home Banking account and click on Mobile Banking.
At the present time, you may use Mobile Banking to:
The Credit Union reserves the right to impose service charges at a future date if notice is given. Amendments to this Agreement may be provided to you in accordance with applicable laws, without restatement of the terms.
Direct Deposits. Upon instruction of (i) your employer or (ii) the Treasury Department or (iii) other financial institutions, the credit union will accept direct deposits of your paycheck or federal recurring payments, such as Social Security, to your savings, Money Market, or checking account.
If we offer direct deposit services for automatic preauthorized deposits to your Account of Social Security payments, you must notify us at least 30 days prior to the next scheduled direct deposit if you wish to cancel the direct deposit. If any amount deposited must be returned to the government for any reason, you authorize us to deduct the amount from your Account.
Preauthorized Debits. Upon instruction, we will pay certain recurring transactions from your savings and checking accounts.
Stop Payment Rights. If you have arranged in advance to make regular electronic funds transfers out of your account(s) for money you owe others, you may stop payment of preauthorized transfers from your account. You must notify us orally or in writing at any time up to three (3) business days before the scheduled date of the transfer. We may require written confirmation of the stop payment order to be made within fourteen (14) days of any oral notification.
Duration of Order: A signed stop payment order is effective at the time we are requested to do so and is binding for a one time stop or indefinitely if the member intends to stop all future payments to that originator.
Liability for Failure to Stop Payment of Preauthorized Transfer. If you order us to stop payment of a preauthorized transfer 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.
Transactions Limitations: During any calendar month, you may not make more than six (6) withdrawals or transfers from your share accounts, other than checking, to another credit union account of yours or to a third party by means of preauthorized or automatic transfer or telephonic order of instruction. If you exceed the transfer limitations set forth above in any monthly period, your account may be subject to any applicable fees, we may eliminate your ability to make such transfers and/or we may be required to close your account.
Fees: Please see Fee Schedule
Periodic Statement. If you have a checking account you will receive a monthly account statement from us. If you have a savings account, you will receive a quarterly account statement unless there has been an electronic transaction take place; in this case you will receive a monthly statement.
Terminal Receipt. You can get a receipt at the time you make any transaction (except inquiries) involving your account using one of our ATMs or purchase at a POS terminal.
Direct Deposits. If you have arranged to have direct deposits made to your account at least once every sixty (60) days from the same person or company, you can call us at (989) 799-8744 or (800) 798-2328 to find out whether or not the deposit has been made.
If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will NOT be liable for instance:
We will disclose information to third parties about your account or the transfers you make:
Notices. All notices from us will be effective when we have mailed them or delivered them to your last known address on our records. Notices from you will be effective when received by us at the telephone number or the address specified in this Agreement. We reserve the right to change the terms and conditions upon which this service is offered. We will mail notice to you at least twenty one (21) days before the effective date of any change, as required by law. Use of this service is subject to existing regulations governing your account and any future changes to those regulations.
Enforcement. In the event either party brings a legal action to enforce this Agreement or collect amounts owing as a result of any account transaction, the prevailing party shall be entitled to reasonable attorneys' fees and costs, including fees on any appeal, subject to any limits under applicable law.
Definition of Business Day: Business days are Monday through Friday, excluding holidays.
Other Provisions. There may be a delay between the time a deposit is made and when it will be available for withdrawal. You should review our Funds Availability Policy to determine the availability of the funds deposited at ATMs.
We reserve the right to refuse any transaction which would draw upon insufficient funds, exceed a credit limit, lower an account below a required balance, or otherwise require us to increase our required reserve on the account.
Subject to applicable law, you agree to pay us the fees and charges shown in the schedules as they are applicable to your account or for the other services performed by us. You agree that the fees and charges may be changed by us from time to time and authorize us to charge your account for their payment whether or not each charge results in an overdraft or your account expense.
In case of errors or questions about your electronic transfers from your savings or checking account or if you need more information about a transfer on the statement or receipt, telephone us at the following number or send us a written notice to the following address as soon as you can. We must hear from you no later than sixty (60) days after we sent the first statement on which the problem appears.
Call us at: (989) 799-8744 or (800) 798-2328
Write to: Catholic Federal Credit Union, P.O. Box 6338 Saginaw, MI 48608
E-mail us at: email@example.com * Please do not include any non-public personal information if sending an email.
If you tell us orally, we may require that you send us your complaint or question in writing within ten (10) business days. We will determine whether an error occurred within ten (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 forty five (45)** days to investigate your complaint or question. If we decide to do this, we will provisionally credit your account within ten (10)* business days for the amount you think is in error, so that you will have the use of the money during the time is takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not credit your account.
We will tell you the results of our investigation within three (3) business days of completing our investigation. If we decide that there was no error, we will send you a written explanation. Any provisional credit that you received will be debited from your account on the date indicated and in the amount indicated by us. We will honor checks and preauthorized transfers from your account without charge if an overdraft results for 5 business days after we send notification to you. You may ask for copies of the documents that we used in our investigation.
*If you give notice of an error within thirty (30) days after you make the first deposit to your account, we will have twenty (20) business days instead of ten (10) business days to credit your account for the amount you think is in error.
**If you give notice of an error within thirty (30) days after you make the first deposit to your account, or notice an error involving a POS transaction or notice an error involving a transaction initiated outside the U.S., its possessions and territories, we will have ninety (90) days instead of forty five (45) days to investigate the error.
You may terminate this agreement or any EFT service under this agreement at anytime by notifying us in writing and stopping use of your card and any PIN. You agree to notify any participating merchants that authority to make bill payment transfers has been revoked. We may also terminate this agreement at any time by notifying you orally or in writing. If we terminate this agreement, we may notify any participating merchants making preauthorized debits or credits to any of your accounts that this agreement has been terminated, and that we will not accept any further preauthorized transaction instructions. We may also program our computer not to accept your card or PIN for any EFT service. Whether you or the credit union terminates this agreement, the termination shall not affect your obligations under this agreement for any electronic transactions made prior to termination.
You are liable to us for any losses, costs or expense we incur resulting from your failure to follow this agreement. You authorize us to deduct any such losses, costs or expenses from your account without prior notice to you. If we bring a legal action to collect any amount due under or to enforce this agreement, we shall be entitled, subject to applicable law, to payment of reasonable attorney fees and costs, including fees on any appeal, bankruptcy proceeding, and any post-judgment collection actions.
Bylaw Requirements: You must open and maintain the required minimum balance of your share/savings account for Credit Union membership. If you fail to maintain the minimum balance, or violate withdrawal restrictions, your membership in the Credit Union will be subject to termination as established in the Credit Union’s bylaws.
Transaction Limitation: We reserve the right to, at any time, require not less than seven days notice in writing before each withdrawal from a dividend bearing account other than a certificate or from any other savings account as defined by Regulation D.
Nature of Dividends: Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.
National Credit Union Share Insurance Funds: Member accounts in this Credit Union are federally insured by the National Credit Union Share Insurance Funds.
Billing Rights: This notice contains important information about your rights and our responsibilities under the Fair Credit Billing Act.
Notify us in Case of Errors or Questions about your Statement: If you think your statement is wrong, or if you need more information about a transaction on your statement, contact the Credit Union within 60 days of receiving the first statement on which the error or problem appeared. You can telephone us, but doing so will not preserve your rights. If you submit a letter, please provide us the following information: Your name and account number, the dollar amount of the suspected error, describe the error and explain if you can, why you believe there is an error. If you need more information, describe the item you are not sure about. If you have authorized us to pay a credit card account automatically from your share account or share draft account, you can stop the payment on any amount you think is wrong. To stop payment, your letter must reach us three business days before automatic payment is scheduled to occur. You can contact the credit union at (989) 799-8744 or (800) 798-2328 or by mail to P.O. Box 6338, Saginaw, MI 48608.
Your Rights and our Responsibilities after we receive your Written Notice: We must acknowledge your letter within 30 days unless we have corrected the error by then. Within 90 days, we must either correct the error or explain why we believe the statement was correct.
After we receive your letter, we cannot try to collect any amount you questions, or report you as delinquent. We can continue to send statements to you for the amount you question, including finance charges, and we can apply any unpaid amount against your credit limit. You do not have to pay any questioned amount while we are investigating, but you are still obligated to pay the parts of your statement that are not in question.
If we find that we made a mistake on your statement, you will not have to pay any finance charges related to any unquestioned amount. If we didn’t make a mistake, you may have to pay finance charges related to any questioned amount. If we didn’t make a mistake, you may have to pay finance charges, and you will have to make up any missed payments on the questioned amount. In either case, we will send you a statement of the amount you owe and the date that it is due.
If you fail to pay the amount that we think you owe, we may report you as delinquent. However, if our explanation does not satisfy you and you write to tell us within ten days that you still refuse to pay, we must tell anyone we report you to that you have a question about your statement. And, we must tell you the name of anyone we reported you to. And, we must tell you the name of anyone we reported you to. We must tell anyone we report you to that the matter has been settled between us when it finally is. If we don’t follow those rules, we can’t collect the first $50 of the questioned amount, even if your statement was correct.
Ownership: All ATM Cards, Debit Cards, PINS, CU Online Home banking and ET Express Telephone passwords remain the property of the Credit Union and may be revoked or canceled at any time without giving you prior notice. If this agreement is terminated, you agree to surrender any card(s) to us. You agree not to use your card for a transaction that would cause your account balance to go below zero. You also agree not to make an ET Express Telephone system or CU Online home banking transaction that would cause your account balance to go below zero. We will not be required to complete any such transaction, but if we do, you agree to pay us the amount of the improper withdrawal, or transfer, upon request.
Notices: All notices from us will be effective when we have mailed them or delivered them to your last known address on our records. Notices from you will be effective when received by us at the telephone number or the address specified in this Agreement. We reserve the right to change the terms and conditions upon which this service is offered. We will mail notice to you at least thirty (30) days before the effective date of any change, as required by law. Use of this service is subject to existing regulations governing your account and any future changes to those regulations.
Enforcement: In the event either party brings a legal action to enforce this Agreement or collect amounts owing as a result of any account transaction, the Credit Union is entitled to attorneys' fees and costs, including fees on any appeal.