How To Open A Credit Union Account

Transcription

1 ALL ABOUT Your Account PRIVACY NOTICE TERMS AND CONDITIONS ELECTRONIC TRANSFERS FUNDS AVAILABILITY TRUTH IN SAVINGS

2 EASTMAN CREDIT UNION Important Information About Procedures for Opening a New Account To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver s license or other identifying documents. Eastman Credit Union ECU Financial Services, Inc. Privacy Notice Rev. Rev. 03/ /2015 WHAT DOES EASTMAN CREDIT UNION FACTS WHAT DO WITH DOES YOUR EASTMAN PERSONAL CREDIT INFORMATION? UNION DO WITH Why? YOUR Financial PERSONAL companies choose INFORMATION? how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires that we tell you how we collect, Why? Financial share, and companies protect your choose personal how information. they share Please your read this personal notice carefully information. to understand Federal what we law do. gives consumers the right to limit some but not all sharing. Federal law What? also The requires types of personal that we information tell you how that we we collect collect, and share, depends and protect on the product your or personal service you have with us. This information can include: information. Please read this notice carefully to understand what we do. What? The types Social of Security personal Number information and account that transactions we collect and share depends on Account balances and payment history the product or service you have with us. This information can include: Transaction history and credit history Social Security Number and account transactions When you are no longer our member, we continue to share your information as described in this notice. Account balances and payment history How? All Transaction financial companies history need and to credit share members history personal information to run their everyday business. In the section below, we list the reasons financial companies can share their members personal When information; you are the no reasons longer Eastman our member, Credit Union we chooses continue to share; to share and whether you can limit this sharing. your information as described in this notice. How? Reasons we can All financial share your companies personal information: need to share members Does personal Eastman information Can you to run limit this Credit Union share? sharing? For our everyday their business everyday purposes business. In the section below, we list the reasons financial such as to process companies your transactions, can share maintain their your members account(s), personal information; the reasons Eastman respond to court Credit orders Union and legal chooses investigations, to share; or report and to credit whether you can Yes limit this sharing. No bureaus. For our marketing purposes to offer our products and services to you. Yes No Does Eastman Reasons we can share your Can you limit For joint marketing with other financial companies. Credit Union personal information this sharing? No share? We don t share For For our our affiliates everyday everyday business business purposes purposes Information such as to about process your transactions your transactions, and experiences. maintain Yes No Yes No your account(s), respond to court orders and legal For our affiliates everyday business purposes Information investigations, about your or report creditworthiness. to credit bureaus. No We don t share For our marketing purposes For our affiliates to market to you. Yes No to offer our products and services to you. No We don t share For joint marketing with other For nonaffiliates to market to you. No We don t share financial companies. No We don t share For our affiliates everyday business purposes Yes No information about your transactions and experiences. Questions? Call or go to For our affiliates everyday business purposes No We don t share information about your creditworthiness. For our affiliates to market to you. No We don t share For nonaffiliates to market to you. No We don t share Questions? Call or go to 1

3 Who Who We We Are Are Who is providing this Eastman Credit Union, including its subsidiaries, and ECU Title Services LLC d/b/a Who is providing this notice? Eastman Credit Union, including its subsidiaries, ECU notice? ECU Title & Escrow Financial Services, Inc. and ECU Title Services LLC d/b/a ECU Title & Escrow What We Do What How does We Eastman Do Credit To protect your personal information from unauthorized access and use, we use How Union does protect Eastman my personal security To measures protect that your comply personal with federal information law. These measures from unauthorized include computer Credit information? Union protect my security access safeguards and and use, secured we files use and security buildings. measures that comply personal information? with federal law. These measures include computer How does Eastman Credit We collect your personal information, for example, when you: security safeguards and secured files and buildings. Union collect my personal Open an account or deposit money How information? does Eastman We collect your personal information, Pay your bills or apply for a loan Credit Union collect my for example, when you: Use your credit or debit card personal information? Open an account or deposit money We also collect Pay your your personal bills information apply from for a other loan sources such as credit bureaus, affiliates or other Use companies. your credit or debit card Why can t I limit all Federal law gives you the right to limit only: We also collect your personal information from other sources sharing? Sharing for affiliates everyday business purposes information about your credit such as credit bureaus, affiliates or other companies. worthiness. Why can t I limit all sharing? Affiliates Federal from law using gives your information you the to right market to to limit you. only: Sharing for Sharing nonaffiliates for affiliates to market to you. everyday business purposes information about your creditworthiness. State laws and Affiliates individual companies from using may your give you information additional rights to market to limit sharing. to you. Sharing for nonaffiliates to market to you. Definitions State laws and individual companies may give Affiliates Companies related to common ownership or control. They can be financial and you additional rights to limit sharing. nonfinancial companies. Eastman Credit Union s affiliates are ECU Financial Services, Inc. and ECU Title Definitions Services LLC d/b/a ECU Title & Escrow. Affiliates Nonaffiliates Companies Companies related not related to common by common ownership or control. They They can can be financial be and financial nonfinancial and nonfinancial companies. companies. Eastman Eastman Credit Credit Union s does affiliates not share are your ECU personal Financial information Services, with nonaffiliates Title to Services market to you. LLC d/b/a ECU Title & Escrow. Inc. and ECU Joint Marketing A formal agreement between nonaffiliated financial companies that together market Nonaffiliates Companies not related by common ownership or control. They can be financial products or services to you. financial and nonfinancial companies. Eastman Credit Union does not share member information under any joint Eastman marketing Credit agreements. Union does not share your personal information with nonaffiliates to market to you. Joint Other marketing Important Information A formal agreement between nonaffiliated financial companies that together market financial products or services to you. Eastman Credit Union does not share member information under any joint marketing agreements. Other important information Business Day throughout this document means any day other than Saturday, Sunday, or holidays observed by ECU. Business Day throughout this document means any day other than Saturday, Sunday, or holidays observed by ECU. 2

4 PERSONAL AND BUSINESS ACCOUNT AGREEMENT TERMS AND CONDITIONS 1. Agreement. These terms govern the operation of your account(s) unless varied or supplemented in writing. Unless it would be inconsistent, words and phrases used in this document should be construed so that the singular includes the plural and the plural includes the singular. As used in this form, the words we, our, or us mean Eastman Credit Union (ECU) and the words you or your means the account owner and if there are joint owners, all joint owners. By signing the General Agreement and Signature Card you agree to be subject to and comply with the regulations, bylaws, policies, (including changes thereto) of Eastman Credit Union. As used in this document, the term Agreement means this document, the Signature Card, Truth In Savings Disclosures, Rate and Fee Schedules, Funds Availability Disclosures, Electronic Funds Transfer Agreements, and Cardholder Agreements, if applicable, including any supplements or addendums to the foregoing. In addition, your account is subject to and governed by state and federal laws applicable to the credit union. Each of you signing the Signature Card and opening or continuing to have an account with us agrees to the terms in this Agreement, as amended from time to time. ACCOUNTS ARE NOT TRANSFERABLE. 2. Eligibility for Membership. To be eligible for membership in Eastman Credit Union you must be an individual or entity qualifying within ECU s field of membership, purchase and maintain one membership share in the credit union, and meet any other conditions set forth in the credit union s regulations, bylaws, and policies. Members of the immediate families of credit union members and of persons eligible for membership in the credit union are eligible for membership. Immediate family is defined as (a) spouse, parents, spouse s parents, step-parents, children, step-children, grandchildren, brothers/sisters and their spouses, children of brothers/sisters, stepsiblings, grandparents, adoptive relationships, and household occupancy. 3. Ownership of Account and Beneficiary Designation. These rules apply to your account(s) depending on the type of account ownership and beneficiary designations, (if any), specified on the General Agreement & Signature Card. You agree that when you establish a joint account, trust account, or custodial account with us, you have instructed us as to the proper title of the account. We assume no legal responsibility to inform you of how any account affects your legal, financial or insurable interests. If you have any questions as to the legal, financial or insurance effect to any account, you will consult with your own lawyer or advisor. You bear the sole responsibility for the legal effect of the creation of your account or how it is maintained by us. a. Member As Sole Owner. Account is owned by Member only. Funds remaining in the account(s) upon Member s death shall become a part of Member s estate. b. Joint Tenants With Right of Survivorship. Member and Joint Owners (collectively referred to as Joint Owners ) signing this Agreement agree with each other and ECU that all sums now paid in on this account(s) or ever paid in by any or all of the Joint Owners(s) to ECU with all accumulated amounts, are and shall be owned by them jointly, with right of survivorship and be subject to the withdrawal or receipt of any of them, and payment to any of them or the survivor(s) shall be valid and discharge ECU from any liability for such payment. Joint Owners also agree to the terms and conditions of the account as established by ECU from time to time. 3

5 c. Payable on Death. You retain during your lifetime the right to withdraw, assign, or pledge the balance of this account as though no death payee had been named and to delete or change a designated death payee. The interest of a death payee shall be deemed not to vest until the death of the owner, or, in the case of joint owners, until the death of the last surviving owner, and such interest shall be subject to any lien, assignment, pledge, right of offset or other claim which we could have asserted against the owner. The interest of a death payee in the account vests only if the payee survives the last surviving owner. Multiple death payees surviving the last surviving owner shall be entitled to equal shares of the account. No change in the designation of a death payee shall be valid unless executed on a form and in a manner prescribed by us and authorized by all account owners. On the death of the last surviving owner, this account, or any part of or interest on this account, will be paid to each surviving death payee in equal shares. The receipt of all amounts in the account by the person(s) so paid shall release and discharge us from liability to any person for such payment. d. Consent of Spouse. This paragraph applies only in community property states. Spouse consents to the designations of beneficiary on the General Agreement & Signature Card and hereby agrees to convert this account(s) into the separate property of Member to be distributed following Member s death. Spouse understands that by signing this consent that current community/marital property rights in this account(s) and community/marital property rights in any future contributions to this account(s) will be forfeited, and further understands that this consent may not be revoked in the future. However, this consent will be automatically revoked if Member amends this designation of beneficiary during spouse s lifetime. e. Additional Authorized Signatory. The person(s) named as Authorized Signatory has no ownership rights in the account(s), but has the right to withdraw money from the account(s) until their power as Authorized Signatory is revoked by any account owner or until the last surviving account owner s death. Funds remaining in the account(s) at the time of death of the last account owner shall be distributed in accordance with the account agreement. f. Trust Accounts. ECU may allow the opening of trust accounts, subject to certain rules and conditions, including meeting ECU s membership requirements. All Trustee(s) have the same rights and responsibilities of an account owner and must be members of ECU. All Settlor(s) (Trustor(s)) must be eligible for ECU membership. You (Trustee(s) and Settlor(s)) each agree to be bound by the terms of this Agreement and to furnish, at ECU s request, a copy of the written trust instrument or such other documentation as ECU may require. You agree that ECU may act upon the instructions of any one Trustee without knowledge or participation of any other Trustees. g. Estate Accounts. An estate account is an account established on behalf of the estate of a deceased person in which an entity or person acts on behalf of the estate. The account is established under the name of the personal representative or executor after all documentation required by ECU is furnished. h. Representative Payee Accounts. A representative payee account is established on behalf of a recipient ( Beneficiary ) of benefits from the Social Security Administration ( SSA ) or Supplemental Security Income ( SSI ) in which an entity or person, as designated by the SSA, acts on behalf of the recipient. The account is established under the name of the Beneficiary who must also be the sole owner. While the 4

6 Beneficiary retains ownership interest, the account must be established to restrict him or her from direct access to the funds in the account. The Beneficiary must be eligible for membership and is the primary member. The representative payee is an authorized signer. The representative payee agrees to be bound by the terms of this Agreement and to furnish ECU, at its request, a copy of the written authorization designating the representative payee and other documentation as ECU may require. In opening a representative payee account, ECU acts only as a depository for the Beneficiary s SSA or SSI funds. ECU is under no obligation to act as a fiduciary or to inquire as to the powers or duties of the representative payee. The representative payee agrees that he or she is liable to ECU for any obligations incurred for any actions dealing with the account and agrees to indemnify and hold ECU harmless from and against any and all loss, costs, damages, liabilities, or exposure, including reasonable attorneys fees, that ECU may suffer or incur arising out of or related to any action or claim by any party with respect to the authority or actions taken by the representative payee in handling or dealing with the account. Unless expressly stated to the contrary, all of the other terms and conditions of the Membership and Account Agreements apply with equal force to representative payee accounts. i. Federal Fiduciary Accounts. A federal fiduciary account is established on behalf of a recipient ( Beneficiary ) of benefits from the Department of Veterans Affairs ( VA ) in which an entity or person, as designated by the VA, acts on behalf of the recipient. The account is established under the name of the Beneficiary who must also be the sole owner. While the Beneficiary retains ownership interest, the account must be established to restrict him or her from direct access to the funds in the account. The Beneficiary must be eligible for membership and is the primary member. The federal fiduciary is an authorized signer. The federal fiduciary agrees to be bound by the terms of this Agreement and to furnish ECU, at its request, a copy of the written authorization designating the federal fiduciary and other documentation as ECU may require. In opening a federal fiduciary account, ECU acts only as a depository for the Beneficiary s VA benefits. ECU is under no obligation to act as a fiduciary or to inquire as to the powers or duties of the federal fiduciary. The federal fiduciary agrees that he or she is liable to ECU for any obligations incurred for any actions dealing with the account and agrees to indemnify and hold ECU harmless from and against any and all loss, costs, damages, liabilities, or exposure, including reasonable attorneys fees, that ECU may suffer or incur arising out of or related to any action or claim by any party with respect to the authority or actions taken by the federal fiduciary in handling or dealing with the account. Unless expressly stated to the contrary, all of the other terms and conditions of the Membership and Account Agreements apply with equal force to federal fiduciary accounts. j. Conservator Accounts. A conservator account is established on behalf of a disabled person in which an entity or person, as legally designated by the court, acts on behalf of the disabled person. The account is established under the name of the disabled person and the account must show the disabled person as the sole owner. The disabled person must be eligible for membership and is the primary member. The conservator is an authorized signer. The conservator agrees to be bound by the terms of this Agreement and to furnish, at ECU s request, the Letters of Conservatorship and such other documents or authorizations as ECU may require. 5

7 In opening a conservator account, ECU acts only as a depository for the disabled person s funds. ECU is under no obligation to act as a fiduciary or to inquire as to the powers or duties of the conservator. The conservator agrees that he or she is liable to ECU for any obligations incurred for any actions dealing with the account and agrees to indemnify and hold ECU harmless from and against any and all loss, costs, damages, liabilities, or exposure, including reasonable attorneys fees, that ECU may suffer or incur arising out of or related to any action or claim by any party with respect to the authority or actions taken by the conservator in handling or dealing with the account. Unless expressly stated to the contrary, all of the other terms and conditions of the Membership and Account Agreements apply with equal force to conservator accounts. k. Minor Accounts. For any account established by or for a minor, ECU reserves the right to require a parent or legal guardian appointed by the court ( Legal Guardian ) to be a Joint Owner. The Legal Guardian shall be jointly and severally liable to ECU for any returned item, overdraft, charges or amounts owing on the account regardless of the minor s rights regarding such contracts. You agree that ECU has no duty to inquire as to the use or purpose of any transaction by a minor, Legal Guardian, or any other Joint Owner of the account. ECU is not required to change the account status when the minor reaches the age of majority, unless the minor, Legal Guardian, and any other account owner(s) authorize us to do so in writing at that time. Any custodial account established pursuant to the Uniform Transfers to Minors Act will be governed by the provisions of Title 35, Chapter 7, of the Tennessee Code Annotated as amended. l. Business Accounts. If the account is owned by a nonnatural person (e.g. an entity such as a corporation, limited liability company, or unincorporated association, etc.), or by a sole proprietor or partnership, the Account Owner(s) must provide ECU with satisfactory evidence of the authority of the individuals authorized to act on behalf of the Account Owner(s). We will honor the authorization until we receive written notice of a change in a form satisfactory to us. You agree that if we receive conflicting instructions or a dispute arises as to control of the account, we may place a hold on the Account(s) until such time that the dispute is resolved to our satisfaction. You agree we will not be liable for dishonored items as a result of any hold placed. 4. Provisions Applicable to Share and Special Accounts. a. Members must subscribe to one or more share in Eastman Credit Union and agree to maintain a minimum balance of $5.00 in a Share Account at all times. b. Member may pledge all or any part of the Primary Share Account as collateral security for a loan(s) from ECU. c. Federal Regulation limits the number of transfers from a share type account to six per month; transfers are defined in the Regulation D Disclosure. d. Ownership designations established for the Primary Share Account will be the same ownership(s) maintained for Christmas Club, Wellness, Net Pay, Mortgage Payment and Stash Your Cash Accounts. e. Checks will not be issued for Net Pay Accounts. f. All new Share Accounts will be verified by ChexSystems. g. Accounts with a zero balance that are inactive for a period of 90 days will be closed. 5. Provisions Applicable to Insured Money Market. a. Federal Regulation limits the number of transfers from a insured money market account to six per month. Counted transfers include, but are not limited to, transactions made at an automated teller machine (ATM) and transactions made in person within a Credit Union branch. b. Ownership on a insured money market account cannot be changed. If a member wishes to remove a joint owner or authorized signer from a insured money 6

8 market account, the account must be closed and a new insured money market account opened. c. Your account may be terminated without notice if this or any other share or loan of the Member is not maintained in a manner which is satisfactory to the Credit Union. d. Accounts with a zero balance that are inactive for a period of 90 days will be closed. 6. Provisions Applicable to Checking Accounts. a. Only checks in a form approved by the Board of Directors of ECU will be honored by ECU. Funds can otherwise be withdrawn from the checking account only by means approved by the Board of Directors of the Credit Union. b. ECU may pay a check on the day it is presented for payment, notwithstanding the date (or any other limitation on time of payment) appearing on the check. ECU is under no obligation to pay a check on which the date is more than six months old. However, if you do not want us to pay a stale-dated check, you must place a stop payment order on the check. c. ECU shall not be liable for any loss or damage resulting from any action it takes or fails to take regarding the payment or nonpayment of a check except for loss or damage resulting from the failure of the Credit Union to exercise ordinary care. All checks shall be cleared through your account in order from the smallest to largest dollar amount. d. The checking account shall be subject to charges in accordance with the service fee schedules adopted by the Board of Directors of the Credit Union and may be subject to change from time to time. e. Ownership on a checking account cannot be changed. If a member wishes to remove a joint owner or authorized signer from a nonbusiness checking account, the account must be closed and a new checking account opened. f. Your account may be terminated without notice if this or any other share or loan of the Member is not maintained in a manner which is satisfactory to the Credit Union. g. Accounts with a zero balance that are inactive for a period of 90 days will be closed. h. Overdraft Payment Provisions. The Credit Union is under no obligation to pay a check or automatic debit presented through Automated Clearing House (ACH) process that exceeds the fully paid and collected share balance in this account. However, if any person authorized to withdraw from this account writes a check or automatic debit is presented through ACH that would exceed such balance, Member may elect to have Credit Union pay the item and transfer shares to this account from any of Member s other qualified share accounts in an amount sufficient to cover the item. Any check or automatic debit through ACH presented for payment which would require a transfer from a share account after six transfers, as described in Regulation D, have been made in any one month shall be dishonored. If the Credit Union dishonors an item because of excessive transfers under Regulation D or if sufficient balances do not exist to cover an insufficient item, the Credit Union will assess the Member an insufficient funds fee for each item presented which must be returned to the financial institution of first deposit. Additionally, Member may elect to have the Credit Union pay the item by transferring from Member s qualified line of credit in an amount sufficient to cover this item. As long as funds are available, transfers are unlimited from a qualified line of credit. For consumer accounts, members in good standing may qualify for Overdraft Protection Plus (ODPP). ODPP is a courtesy limit and not a line of credit loan. ODPP may allow your checks or automatic debits through ACH to be paid up to a maximum of Five Hundred Dollars ($500.00). If we pay a check or automatic debit through ACH using ODPP, an insufficient funds fee will be assessed and may be deducted from the $500 limit thereby reducing the amount available to pay checks and automatic debits through ACH. This service is a courtesy and is not a promise to pay. ODPP does not increase your available balance. As a result, you will not be able to receive POS debit card or ATM transaction authorization 7

9 even if you have overdraft availability. Paying an item for you once does not guarantee future payments. If we pay an item as a courtesy, you will be charged an insufficient funds fee. If funds in your account are unavailable to pay an item, an uncollected funds fee may apply whether we decide to pay the item or return the item. Recurring Check Card transactions will be assessed insufficient funds fees when funds are not available in your account to pay these items. If you choose not to have our ODPP service, you may opt-out by submitting a request to us in writing. You may send your request by mail to ECU, 201 S. Wilcox Dr., Kingsport, TN or by to memsvc@ecu.org. Opt-In for Overdraft Protection Plus (ODPP) for Everyday Check Card Transactions: The credit union is under no obligation to authorize payment for everyday check card transactions that exceeds the fully paid and collected balance in the account. However, you may elect to opt in for approval of everyday check card transactions through our courtesy pay program. If any person authorized to withdraw from the account elects to opt-in for approval of everyday check card transactions using ODPP (courtesy pay) as part of the available balance in the account, then all persons authorized on the account are opted in. If you elect to opt into this program, your available balance is increased by the amount of your ODPP limit. As a result, you will be able to receive POS debit card transaction authorization even if you do not have available funds in your account. Credit Union will assess the Member an insufficient funds fee for each item presented when funds are not available in the account to cover those items if the ODPP limit is used to pay those items. If you qualify for ODPP and we pay items for you creating a negative balance in your account, repayment is expected immediately. If your account remains overdrawn for 25 consecutive days, no additional items will be paid as a courtesy until you bring your account to a positive balance. Your account balance must remain positive for a period of three business days before the ODPP limit will be restored. We will not pay items for you that would require funds beyond the established ODPP limit for your account. The amounts of fees are subject to change in accordance with the service fee schedules adopted by the Board of Directors of the Credit Union from time to time. An insufficient funds fee is assessed when an item is presented for payment and the account balance is not sufficient to pay the item. We will assess an insufficient funds fee whether we return an item or pay an item. An insufficient funds fee is $30 per item whether returned or paid. An uncollected funds fee is assessed when an item is presented for payment and the account balance is sufficient to pay the item, but the funds are being held. We will assess an uncollected funds fee whether we return an item or whether we pay an item. An uncollected funds fee is $30 per item whether returned or paid. A fee will be assessed for each item presented when funds are insufficient or unavailable to pay the item. Therefore, you could receive multiple insufficient funds fees or uncollected funds fees in a single business day. Transactions may not be processed in the order in which they occurred. Additionally, the order items appear on member statements may not reflect the order in which they were processed. The order in which transactions are received by the Credit Union and processed can affect the total amount of insufficient funds fees incurred by you. Should your account be overdrawn for sixty days, the account will be closed and the overdraft amount will be reported to ChexSystems. ECU will pursue collection efforts on all overdrawn accounts. If you elect to opt into this program for everyday check card transactions, you may opt out at any time by submitting a request to us in writing. You may send your request by mail to ECU, 201 S. Wilcox Dr., Kingsport, TN or by to memsvc@ecu.org. i. All new Checking Accounts will be verified by ChexSystems. 8

10 j. Due to the large volume of checks we receive, we have adopted automated processing that prevents us from inspecting or looking for restrictive legends on every check. Examples of restrictive legends include without limitation; Void after 90 days, Paid in Full, Two Signatures Required or similar statements. We are not required to honor and are not responsible for taking action on any restrictive legend you write. You agree we operate within reasonable banking standards by using these automated processing systems. k. If you use a facsimile or other mechanically reproduced signature (Facsimile), you agree to accept sole responsibility for maintaining the security of such device and accept the entire risk of its unauthorized use. You authorize us to charge your account for any draft bearing such Facsimile regardless of how or by whom the Facsimile may be affixed. 7. Deposits. Any items, other than cash, accepted for deposit (including items drawn on us ) will be given provisional credit only until collection is final (and actual credit for deposits of, or payable in, foreign currency will be at the exchange rate in effect on final collection in U.S. dollars). Subject to any other limitations, dividends will be paid only on collected funds, unless otherwise provided by law. We are not responsible for transactions initiated by mail or outside depository until we actually record them. All transactions received after our daily cut-off time on a business day we are open, or received on a day in which we are not open for business will be treated and recorded as if initiated on the next following business day that we are open. You authorize us to accept transfers, checks, drafts, and other items for collection to your Account(s) if the item is to the order or payable to any one or more of you, whether or not the item is endorsed by you. You authorize us to supply missing endorsements and warrant that all endorsements are valid. We may accept nonconforming endorsements but you will be responsible for any loss incurred in any processing delay or for returning the item for payment. You must endorse checks or drafts presented for deposit or collection in a specific area on the back of the item. The endorsement must appear on the back within the first 1 ½ inches from the left side of the item when looking at the item from the front. We reserve the right to refuse any item, electronic funds transfers, wire, or other deposit to your Account(s). Unless we authorize you to do so, you may not deposit a substitute check unless it has been processed by a bank or credit union in the collection process. If you present a substitute check or provide us with an electronic representation of a substitute check for deposit, you agree to reimburse us for any losses or expenses we pay or incur in relation to the item not meeting applicable standards for substitute checks and/or duplicate payments associated with the item. 8. Direct Deposits. If, in connection with any item or direct deposit plan, we pay to you or deposit any amount in this account which should have been returned to the Federal Government for any reason, you authorize us to deduct the amount of our liability to the Federal Government from this account or from any other account you have with us without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability. 9. Dividends. By law we are prohibited from guaranteeing the payment of dividends or guaranteeing that those payments will be at the contracted rate. We must base our payments to you on the money we actually earn and that is available for distribution at the end of a dividend period. The rate and method we use to calculate dividends may change from time to time. 9

11 10. Withdrawals. Any one of you who signs this Agreement may withdraw or transfer all or any part of the account balance at any time on forms approved by us. Each of you authorizes each person signing this Agreement to endorse any item payable to you for your order for deposit to this account(s) or any other transaction with us. You agree that we shall have no liability to you if we honor an item signed by only one authorized signatory or if we allow withdrawals from an account on the request of only one authorized signatory, regardless of whether we have been advised or otherwise have knowledge that two or more signatures are required for withdrawals from your account. The fact that we may honor withdrawal requests that overdraw the finally collected account balance does not obligate us to do so, unless required by law. Withdrawals will first be made from collected funds, and we may, unless prohibited by law or our written policy, refuse any withdrawal request against uncollected funds, even if our general practice is to the contrary. We reserve the right to refuse any withdrawal or transfer request that is attempted by any method not specifically permitted, that is for an amount less than any minimum withdrawal requirement, or that exceeds any frequency limitation period. Even if we honor a nonconforming request, repeated abuse of the stated limitations (if any) may eventually force us to close your account. We will use the date a transaction is completed by us (as opposed to the date you initiate it) to apply the frequency limitations. On dividend-bearing accounts other than Term Share Accounts, we reserve the right to require at least sixty days written notice before any withdrawal or transfer. Withdrawals from a Term Share Account prior to maturity or prior to the expiration of any notice period may be restricted and may be subject to penalty. 11. Identification Procedures. We will require identification, subject to our standards and applicable regulations, for person s presenting a draft drawn against your account for payment over the counter. We may not cash the draft if the person does not comply with our identification standards. 12. Stop Payments. A stop payment order must be given in the manner required by law and must be received in time to give us a reasonable opportunity to act on it. Additional limitations on our obligation to stop payment are provided by law. A stop payment order must precisely identify the number, date and amount of the item, and the payee. We will honor a stop payment request by the person who signed the particular item, and, by any other person, even though such other person did not sign the item, if such other person has an equal or greater right to withdraw from this account than the person who signed the item in question. You may not stop payment on drafts or checks governed by a separate agreement (for example, a check guaranty agreement). 13. Statements. a. We will periodically send you statements of your account(s). You may request an item from us and we will provide you a legible copy of the item within a reasonable time. Charges may apply for copies of some items. b. You must exercise reasonable promptness in examining the statement to determine whether any payment was not authorized because of an alteration of an item or because a purported signature by you or on your behalf was not authorized. If you discover an unauthorized payment, you must promptly notify us of the relevant facts. c. If you fail with respect to an item to comply with the duties imposed on you in (b), you are precluded from asserting against us (1) your unauthorized signature or alteration on the item, if we also prove that we suffered a loss by reason of the failure; and (2) your unauthorized signature or alteration by the same wrongdoer on any other item paid in good faith by us if the payment was made before we received notice from you of the unauthorized signature or alteration and after you have been afforded a reasonable period of time, not exceeding thirty days, in which to examine the item or statement of account and notify us. d. You must also notify us of any other problem (e.g. erroneous statement, missing signature from an item, unauthorized endorsement on an item, etc.) within a 10

12 reasonable period of time, not exceeding thirty days. Your failure to do so will preclude you from asserting the problem against us. 14. Amendments and Termination. Rules regarding changes to dividends have been provided separately. From time to time we may amend any term of the Agreement after giving you reasonable notice in writing or by any other method permitted by law, including, in appropriate circumstances, posting notice in our building(s). We may also close your account(s) at any time with reasonable notice to you and tender of the account balance personally or by mail. Notice from us to any one of you is notice to all of you. Failure to comply with any of the provisions of the Agreement may result in the closing of any or all accounts with ECU either with or without prior notice. 15. Withdrawal from Membership. Your failure to maintain a minimum balance of $5.00 in a share account for a period of sixty days (60) days will result in ECU taking action to close your share and checking accounts and may be deemed as your withdrawal from membership with the Credit Union. 16. Liability. Each of you agrees, (for yourself and the person and entity you represent if you sign as a representative of another) to the terms of your account(s) and the schedule of charges that may be imposed. You authorize us to deduct those charges as accrued directly from the account balance. You also agree to pay additional reasonable charges we may impose for services you request which are not contemplated by this Agreement. Each of you also agrees to be jointly and severally liable for any account deficit resulting from charges or overdrafts, whether caused by you or another authorized to withdraw from this account(s), and the costs we incur to collect the deficit including, to the extent permitted by law, our reasonable attorneys fees. In addition, each of you agrees that you will not use your account to engage in any illegal activities, including illegal internet gambling. If you use your account to engage in any such illegal activities, you will nevertheless be liable for those activities. Further, you agree to reimburse us for any losses we incur as a result of your actions. We reserve the right to terminate or withdraw any product or service in the event your account is used for any illegal activity. Each of you is required to reimburse us for any costs and/or expenses that we may incur in enforcing this Agreement, including our reasonable attorneys fees. If we employ legal counsel to collect a dishonored, refused, returned, fraudulent, worthless and/ or bad check ( Dishonored Check ) presented to us by any of you, your agents, your spouse, and/or your issue, then each of you must pay our reasonable attorneys fees, court costs, service of process fees, and other incidental expenses incurred in enforcing our rights against you. 17. Lien and Set-Off. To the extent that your deposit includes shares, you each agree that we may impress and enforce a lien on your shares and dividends to the extent of any due and payable loans, financial obligations, other charges, and/or attorneys fees that any of you with ownership rights in this account may owe to us now or in the future. In the case of any deposit, you each agree that we may (without prior notice and when permitted by law) set off the funds in this account against any due and payable debt or any other charge (including reasonable attorneys fees) that anyone with an ownership interest in this account may owe us now or in the future. If the debt arises from a note, any due and payable debt includes the total amount which we are entitled to demand payment under the terms of the note at the time we enforce our lien or set-off including any balance the due date for which we properly accelerate under the note. This lien or right of set-off does not apply to this account if (a) it is an Individual Retirement Account or any other account that would lose special tax treatment under state or federal law if given as security, or (b) the debtor s right of withdrawal only arises in a representative capacity, or (c) the lien or right of set off is otherwise prohibited under state or federal law. We will not be liable for the dishonor of any item when the dishonor occurs because we set off a debt against this account. You agree to hold us harmless from any claim arising as a result of the exercise of our right of set-off. 11

13 18. Waiver of Notice. You waive any rights that you may have to receive any notice of presentment and/or notice of dishonor in relation to your account and/or any check, draft, and/or instrument presented by you for payment by us. 19. Effect of Amendments. Any changes, modifications, amendments, and/or revisions ( Amendments ) to this agreement shall be effective as to and be enforceable in relation to any account created and/or any check, draft, loan, note, and/or instrument executed prior to, upon, and/or after the date of the Amendment. 20. Applicable Law. This Agreement is subject to applicable federal laws and shall be governed by and construed in accordance with the laws of the State of Tennessee (without regard to choice of law principles). This Agreement has been accepted by us in the State of Tennessee and your account(s) are located in the state of Tennessee. We are subject to federal, state and association rules and/or laws regarding accounts covered by the Agreement except to the extent this agreement can and does modify such rules or laws. 12 Cardholder Agreement for Personal Accounts As an Eastman Credit Union (ECU) member and checking account holder, you may apply for an ATM Card, Visa Check Card or Visa Credit Card (collectively Card ), or account access by phone (ECU PhoneLink). If granted a Card or ECU PhoneLink, you will maintain a Personal Identification Number (PIN). Use of your Card or the PIN will constitute agreement to the following terms and conditions: a. Card and PIN are for your use only. You assume responsibility for all transactions made with your Card and PIN. b. Card privileges are subject to cancellation at any time. The Card is the property of ECU and must be returned to ECU upon request or may be cancelled or impounded by ECU. You may cancel your Card by notification to ECU in writing and physically surrendering the Card. c. You should not keep your PIN with or near your Card. You should never reveal or make available your PIN to another person. If you give your Card and/or PIN to any other person, you will be responsible for all transactions made by that person. Until you notify ECU in writing to the contrary, use of the Card and/or the PIN by that person shall be an authorized use. d. If you fail to maintain the security of your Card and/or PIN and ECU suffers a loss, we may terminate your Card services immediately. e. Any theft or loss of the Card should be immediately reported to ECU by calling or f. The use of your Card and/or PIN is subject to regulations governing your checking account, share account, and line-of-credit. g. You agree to not withdraw funds in excess of the balance in your accounts or the amount available in your line-of-credit. h. All transactions are credited subject to verification and final payment in cash. i. If this card accesses a Health Savings Account (HSA), all withdrawals made with this card as a credit or debit will be reported to the IRS as normal distributions. If you incur a charge in foreign currency, it will be billed to your account in U.S. Dollars. The exchange rate between the transaction currency and the billing currency used for processing international transactions is a rate selected by Visa from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate Visa itself receives or the government-mandated rate in effect for the applicable central processing date. You will also be assessed an International Service Assessment fee (ISA fee) by Visa. This fee is imposed by Visa operating regulations for international transactions. The ISA fee may be either a 0.8% currency exchange fee for single currency transactions (transactions made internationally without a currency conversion) or a 1% currency

14 exchange fee for multi-currency international transactions (transactions made internationally that require a currency conversion.) The ISA fee is added to the amount of the purchase, cash advance, or credit and is retained by Visa. This fee will post to your account as a separate transaction. Please note that a credit to your account for a foreign transaction may not fully offset the original charge due to changes in the exchange rate; therefore, you will be responsible for the difference. Nothing in this agreement shall be deemed to annul, limit, or in any other way modify any other obligation or relationship you may now or hereafter have with ECU. ELECTRONIC FUND TRANSFERS Your Rights and Responsibilities Tell ECU immediately 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 checking account. 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 notify ECU 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 ECU within 2 business days after you learn of the loss or theft of your card or PIN, and ECU determines it 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, notify ECU at once. If you do not notify ECU within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if ECU determines it could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from notifying us, ECU may extend the time periods. To report a lost or stolen card, please call or (423) You may also write us at: ECU Card Services P.O. Box 1989, Kingsport, TN 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 checking account without your permission. For purposes of these disclosures, ECU s business days are Monday through Friday. Holidays on which ECU is closed are not included. You may use your card or PIN to: 1. Withdraw cash from your checking or savings account or from your line of credit. 2. Make deposits to your checking or savings account. 3. Transfer funds between your checking and savings accounts whenever you request. 4. Obtain account balance information. 5. Pay for purchases at places that have agreed to accept the card or PIN. Some of these services may not be available at all terminals. 6. Pay bills directly by telephone from your checking account in the amounts and on the days you request. Electronic Check Conversion If you pay for something with a check you may authorize the check to be converted to an electronic fund transfer. You may also authorize merchants to electronically debit your account for returned check fees. You authorize the electronic transaction through the merchant, either expressly in writing or implicitly if the authorization is posted on a sign by the merchant indicating that the conversion will occur. 13

15 Limitations on Frequency of Transfers There are no limits on the number of cash withdrawals or fund transfers you may make from ECU s ATM terminals. There are also no limits on the number of point-ofsale transactions you may make. However, Federal regulations limit the number of transfers you may make by telephone or online from your share (savings) accounts. Limitations on Dollar Amounts of Transfers You are limited to a total of $800 each day in withdrawals from ATM terminals or in using your card to purchase goods or services in point-of sale (PIN based) transactions. Signature based transactions may be completed for any amount up to your account balance. Fees When you use an ATM that is not owned by ECU, you may be charged a fee by the ATM operator or any network used. You may also be charged a fee for a balance inquiry even if you do not complete a fund withdrawal or transfer. Confidentiality ECU will disclose information to third parties about your account or the transfers you make: a. Where it is necessary for completing transfers, or b. In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or c. In order to comply with subpoenas or other legal process, or d. If you give us your written permission. Documentation You can get a receipt at the time you make any transfer to or from your account using an ECU ATM. Preauthorized Credits If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, the person or company making the deposit will tell you every time they send us the money. You can call ECU at to find out whether or not the deposit has been made. Periodic Statements You will get a monthly account statement. Preauthorized Payments a. You have the right to stop payment on preauthorized transfers from your account. To stop a preauthorized payment, call ECU at , or write to ECU Card Services P.O. Box 1989, Kingsport, TN in time for ECU to receive your request 3 business days or more before the payment is scheduled to be made. If you call, ECU may also require you to put your request in writing and deliver it within 14 days after you call. ECU will charge you a fee for each stop-payment order you give. If you order ECU to stop a preauthorized payment 3 business days or more before the transfer is scheduled, and it fails to do so, ECU will be liable for your losses or damages. Refer to fee schedule for current stop payment fee amounts. b. If your preauthorized payments vary in amount, the person you are going to pay will tell you, at least 10 days before each payment, when it will be made and how much it will be. You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set. 14

16 Credit Union Liability If ECU does not complete a transfer to or from your account on time or in the correct amount according to its agreement with you, ECU will be liable for your losses or damages. However, there are some exceptions, including: a. If, through no fault of ECU, you do not have enough money in your account to make the transfer; or b. If the transfer would go over the credit limit on your overdraft line of credit; or c. If the ATM where you are making the transfer contains insufficient cash to make the transfer; or d. If the terminal or system was not working properly and you knew about the breakdown when you started the transfer; or e. If circumstances beyond ECU s control (such as fire or flood) prevent the transfer, despite reasonable precautions that ECU has taken. Error Resolution In case of errors or questions about your electronic transfers contact ECU Card Services at or fax You may write to ECU Card Services at P.O. Box 1989, Kingsport, TN You must contact ECU 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 your statement or receipt. ECU must hear from you no later than 60 days after it sent the FIRST statement on which the problem or error appeared. When you contact ECU: a. Give your name and account number (if any); b. Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information; and c. Disclose the dollar amount of the suspected error. If you notify ECU orally, you may be required to send your complaint or question in writing within 10 business days. ECU will determine whether an error occurred within 10 business days after your notification of a suspected error and it will correct any error promptly. If ECU needs more time, however, it may take up to 45 days to investigate your complaint or question. If ECU decides to increase the investigation time, your account will be credited 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 ECU to complete its investigation. If ECU asks you to put your complaint or question in writing and it is not received within 10 business days, it may not credit your account. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, ECU may take up to 90 days to investigate your complaint or question. For new accounts, it may take up to 20 business days to credit your account for the amount you think is in error. ECU will tell you the results within three business days after completing its investigation. If ECU determines that there was no error, you will receive a written explanation. You may ask for copies of the documents that ECU used in its investigation. ECU PhoneLink You may access your account by telephone 24 hours a day at or Using a touch tone telephone, your member number, PIN, and your account numbers, you may obtain information about your accounts, or make transfers or withdrawals. Please also see Limitations on Frequency of Transfers section regarding limitations that apply to telephone transfers. ECU Online You may access your account through ECU s Online Banking service 24 hours a day, 7 days a week at Access may be obtained to Online Banking using your member user name and password. Please also see Limitations on Frequency of Transfers section regarding limitations that apply to online transfers. 15

17 ATM Transactions All cards may be used at ATMs displaying the NYCE or Visa network logos. In addition, debit cards may be used at ATMs displaying the Allpoint network logo. You may access your accounts to: a. Withdraw cash from your share account, checking account, and line-of-credit; b. Transfer funds between your share account, and checking account; and c. Obtain balance inquiries on your share account, checking account and line-ofcredit. Your aggregate amount of withdrawals per day from ATMs and/or point-of-sale (PIN based) terminals (see below) may not exceed $ Some of these services may not be available at all terminals. Point of Sale (POS) You may use your Card and PIN to pay for purchases or services from merchants who have agreed to accept the Card at NYCE merchant terminals or such other point-of-sale (PIN based) terminals as ECU may designate. Your aggregate amount of withdrawals per day from ATMs and/or point-of-sale (PIN based) terminals (see above) may not exceed $ Non-Visa Debit Transactions ECU utilizes the NYCE network to process a portion of its Visa Check Card or Visa Debit Card transactions. Through the NYCE network, ECU cardholders may also use their Visa check card or debit card to make non-visa debit transactions. Such transactions do not have to be authenticated by a PIN and are commonly referred to as PIN-less transactions. PIN-less transactions through the NYCE network may be initiated by a cardholder through direct payment to a merchant or creditor, such as by telephone VRU, an internet site, inbound customer service, or at kiosk locations. Participating merchants or creditors must display the NYCE logo. Because NYCE PIN-less transactions are not authenticated with a PIN, the merchant or creditor must authenticate the customer s identity according to known information derived from an existing relationship. These PIN-less debit transactions are not processed through the Visa network and do not offer the additional liability protection offered through Visa. Provisions of your Cardholder agreement that relate only to Visa transactions are inapplicable to PIN-less non-visa transactions. However, your PIN-less transactions continue to be covered by the liability limits set by federal law. Please note that to initiate a Visa debit transaction at the point of sale, the cardholder signs a receipt, provides a card number (ex. mail or telephone orders) or swipes the card through a point-of-sale terminal. In addition, to initiate a Visa debit transaction, the merchant or creditor must have an agreement with Visa. Visa Check Card You may use your Card and PIN or Signature to pay for purchases or services at merchants displaying the Visa logo. Funds to cover your Card purchases will be withdrawn from your checking account. You further agree that the use of your Card with any merchant, whether or not you have signed any sales authorization, will initiate a withdrawal from and/or demand on your account. ECU may refuse to honor any transaction for which you do not have sufficient available verified funds. 16

18 ELECTRONIC FUNDS TRANSFER AGREEMENT AND DISCLOSURE FOR BUSINESS ACCOUNTS Cardholder Agreement Business Accounts Definitions - As used in this Agreement, the words we, our and us refer to Eastman Credit Union. The words you, your, and yourself refer to the Account Owner of the account for which electronic fund transactions and transactions involving the use of a Visa Business Check Card, cash card and/or ECU PhoneLink are permitted. The words Card and Cards refer to a Visa Business Check Card or any other ATM/cash card issued by us. The words Cardholder and Cardholders refer to any and all authorized signatories (i.e., signers) for your account who are issued a Card. The phrases authorized signatory and authorized signatories refer to any and all natural persons who are listed on the signature card for the account, your resolutions, banking agreements, certificates of authority and/or any other document(s) presented to you by us as being authorized to use your account and/or to otherwise act on your behalf. Unless inconsistent, words in this agreement shall be construed so that the singular includes the plural and the plural includes the singular. The word Business Day means any day other than Saturday, Sunday, or holidays observed by us. Cardholder Eligibility - As an Eastman Credit Union ( ECU ) member, you, your authorized representative(s), and your authorized signatories may apply for a Card and ECU PhoneLink privileges. If granted these privileges, Cardholders will maintain a Personal Identification Number ( PIN ) and a Card. You must notify us in writing if the privileges of any of the authorized signatories on your account are modified, changed, amended or revoked. Until our receipt of such notice, all authorized signatories may use the Card and the ECU PhoneLink privileges for your account. Terms & Conditions - Use of the Card and/or the PIN will constitute agreement by you and all of the Cardholders to the following terms and conditions: We will issue Cards to your authorized signatories upon request. Each Card will identify you as well as the Cardholder and will allow access to your accounts including your business checking account. You agree to provide the Cardholders with a copy of this Agreement. The Cards and PINs are for your business use only. You are solely responsible for assuring the account and all Cards are used only for your business purposes. You and the Cardholders understand that the Cards shall not be treated as a consumer card under federal or state law. You assume responsibility for all transactions made with issued Cards and PINs. You are liable for the payment of Card transactions authorized by you or your agent or a Cardholder or his/her agent. Card privileges are subject to cancellation at any time. The Card is the property of ECU and must be returned to ECU upon request or may be impounded automatically. You may cancel Card privileges and ECU PhoneLink privileges for yourself and/or any other Cardholder by providing written notification to us and physically surrendering the Card to us. Before canceling the Card privileges for any Cardholder, you must present us with written documentation (or you must have previously presented us with written documentation) satisfactory to us that the person canceling these privileges on your behalf and as your agent is authorized to do so. You agree to notify us immediately when you terminate a Cardholder s rights and promptly return the Card to us. A Cardholder may also cancel his/her Card privileges and ECU PhoneLink privileges for himself/herself by providing written notification to us and physically surrendering the Card to us. 17

19 No one should keep the PIN with or near the Card. No one should reveal or make available a PIN to another person. If a Cardholder gives his/her Card and/or PIN to any other person, you will be responsible for all transactions made by that person. Until we receive notice from you in writing to the contrary, use of the Card and/or the PIN by that person shall be an authorized use. If you or any of the Cardholders fail to maintain the security of the Card and/or PIN and we suffer a loss, we may immediately terminate the Card services for your account. Any theft or loss of the Card should be immediately reported. You may be held liable for losses that result from your unreasonable or negligent failure to notify us promptly of a lost or stolen card. The use of the Cards and/or the PINs is subject to regulations governing your checking account, share account, and line-of-credit. You and the Cardholders agree not to withdraw funds in excess of the balance in your accounts or the amount available in your line-of-credit. All transactions are credited subject to verification and final payment in cash. If you incur a charge in foreign currency, it will be billed to your account in U.S. Dollars. The exchange rate between the transaction currency and the billing currency used for processing international transactions is a rate selected by Visa from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate Visa itself receives or the government-mandated rate in effect for the applicable central processing date. You will also be assessed an International Service Assessment fee (ISA fee) by Visa. This fee is imposed by Visa operating regulations for international transactions. The ISA fee may be either a 0.8% currency exchange fee for single currency transactions (transactions made internationally without a currency conversion) or a 1% currency exchange fee for multi-currency international transactions (transactions made internationally that require a currency conversion.) The ISA fee is added to the amount of the purchase, cash advance, or credit and is retained by Visa. This fee will post to your account as a separate transaction. Please note that a credit to your account for a foreign transaction may not fully offset the original charge due to changes in the exchange rate; therefore, you will be responsible for the difference. Nothing in this agreement shall be deemed to annul, limit, or in any other way modify any other obligation or relationship you and/ or the Cardholders may now or hereafter have with us. If any of the provisions of this Agreement require us to rely upon written, electronic and/or oral information, notices, disclosures, resolutions and/ or documentation provided to us (collectively, Information ), then we are authorized to rely upon such Information and to implement revisions, changes, amendments, modifications, and/or alterations in reliance upon such Information so long as we receive such Information from your authorized representative(s). As used in this Agreement, authorized representative(s) includes, without limitation, the following: your authorized signatories, your President, your Board Chairperson, your Chief Executive Officer, your Chief Financial Officer, your Vice President, your Corporate Secretary, your Treasurer, your Chief Manager, your General Partner, your Member, your Owner, your Business Manager, your Office Manager, or your Executive Director. ELECTRONIC FUND TRANSFERS Your Rights and Responsibilities for Business Accounts Except as otherwise provided herein, the defined terms contained in the section entitled Cardholder Agreement Business Accounts ( Cardholder Section ) have the same meaning when used in this Section as in the Cardholder Section. Notwithstanding the foregoing, the words you, your, and yourself, as used in this Section, refer to the Account Owner of the account and all of the authorized signatories on the account. 18

20 Cardholder Agreement Business Accounts ( Cardholder Section ) have the same meaning when used in this Section as in the Cardholder Section. Notwithstanding the foregoing, the words you, your, and yourself, as used in this Section, refer to the Account Owner of the account and all of the authorized signatories on the account. The Electronic Fund Transfers ( EFT ) that we are capable of handling are indicated below. Some of these transfers may not apply to your account. Please read this disclosure carefully because it indicates your rights and obligations for these transactions. You should keep this notification for future reference. Electronic Check Conversion - If you pay for something with a check you may authorize the check to be converted to an electronic fund transfer. You may also authorize merchants to electronically debit your account for returned check fees. You authorize the electronic transaction through the merchant, either expressly in writing or implicitly if the authorization is posted on a sign by the merchant indicating that the conversion will occur. Direct Deposits - You may make arrangements for certain direct deposits to be accepted into your share or checking account. Preauthorized Withdrawals - You may make arrangements to pay certain recurring bills from your checking account. You may authorize a third party to debit your account. You may initiate these payments through any bill payment service made available through ECU Online. Please also see Limitations on Frequency of Transfers section regarding limitations that apply. ECU Phonelink - You may access your account by telephone 24 hours a day at or Using a touch tone telephone, your member number, PIN, and your account numbers, you may obtain information about your accounts, or make transfers or withdrawals. Please also see Limitations on Frequency of Transfers section regarding limitations that apply to telephone transfers. ECU Online - You may access your account via the Internet 24 hours a day, 7 days a week at Access may be obtained to ECU Online using your member user name and password. Please also see Limitations on Frequency of Transfers section regarding limitations that apply. ATM Transactions - All cards may be used at ATMs displaying the NYCE or Visa network logos. In addition, debit cards may be used at ATMs displaying the Allpoint network logo. You may access your accounts to: Withdraw cash from your share account, checking account, and line-of-credit. Transfer funds between your share and checking account. Obtain balance inquiries on your share account, checking account, and lineof-credit. Your aggregate amount of transactions per day from ATMs and/or POS terminals (see below) may not exceed $1, Some of these services may not be available at all terminals. Point of Sale (POS) - You may use your Card and PIN to pay for purchases (in person) or pay for services (in person) from merchants who have agreed to accept the Card at NYCE merchant terminals or such other POS terminals as we may designate. Your aggregate amount of transactions per day from POS terminals and/or ATMs (see above) may not exceed $1,