Educational Employees Credit Union MASTER ACCOUNT AGREEMENT & DISCLOSURE

Educational Employees Credit Union MASTER ACCOUNT AGREEMENT & DISCLOSURE

CONTENTS 04 INTRODUCTION Eligibility for Membership and Services...04 04 10 11 14 GENERAL AGREEMENTS Consent to Account Agreements...04 Governing Provisions/Changes in Terms...05 Member Numbers...05 Minimum Balance Requirements...06 Share Insurance...06 Voting Privileges...06 Business Days...06 Statements/Permanent Records...07 Tax ID Number and Withholding...07 Email...07 Change of Address/Contact Information...08 California Unclaimed Property Law...08 Error Resolution...08 Prohibition on Illegal Activity...08 Our Right to Freeze Accounts and Loans or Block Transactions...09 Our Right of Offset...09 Member Conduct Policy...09 TRUTH IN SAVINGS DISCLOSURE Regular Savings Account...10 Savings Sub-Share Accounts...10 Holiday Wise Club Account...10 Minor Account...10 Checking Account...10 Certificate Accounts...10 Individual Retirement Accounts (IRAs)...10 GENERAL ACCOUNT TERMS Account Transactions...11 Endorsements and Right to Supply Missing Endorsements...12 Your Responsibility for Deposited Items...12 Credit Union Official Checks...13 YOUR CREDIT UNION ACCOUNTS Earnings and Payment of Dividends...14 Ownership of Accounts and Pay on Death Beneficiaries...14 DBA, Organization and Special Purpose Accounts...17 Fiduciary Accounts...17

17 SHARE DRAFT (CHECKING) ACCOUNT TRANSACTIONS 23 26 27 Checks Honored...17 Laws and Rules Governing Checking Transactions...17 Stale Dated Checks...18 Post Dated Checks...18 Non-cash Deposits...18 ACH Conversion of Checks...18 Preauthorized Drafts...18 Check 21/Electronic Check Clearing...18 Non-Sufficient Funds Items...18 Overdraft Protection from Savings or Overdraft Loan...19 Platinum Overdraft...20 Stop Payments...20 Check Copies...21 Closing Your Checking Account...21 Privacy and Disclosure of Account Information..21 RELATED SERVICES Direct Deposit Services...23 Funds Transfer Services...23 Wire Transfers...23 Automated Clearing House Transactions...25 Automatic Transfer Service...26 Circumstances Beyond Our Control...26 ACCESS OPTIONS: ATM, PTA AND ONLINE ACCESS Automated Teller Machine Service (ATM)...26 Personal Telephone Access (PTA)...26 Online Access and Online Bill Pay...27 FUNDS AVAILABILITY POLICY Same Day Availability...27 Longer Delays May Apply...27 Special Rules for New Accounts...28 Your Liability...29

29 ELECTRONIC FUNDS TRANSFER DISCLOSURE AND AGREEMENT 35 35 36 Confidentiality...29 Your Responsibility for Your Equipment...30 Documentation of Transactions...30 Our Liability...30 Your Liability for Unauthorized Transactions...31 Error Resolution...32 Business Days...32 Termination...32 Types of Preauthorized Payments (ACH Transfers)...33 Stop Payment on an ACH...34 WHAT TO TELL US IN CASE OF ERROR OR INQUIRY HOW TO CONTACT US By Phone...35 Member Service Center Hours...35 Evenings or Weekends...35 Write Us...35 PRECAUTIONS AND SAFETY TIPS ATM Safety...36 ATM, Visa Debit Card, and Visa Credit Card Tips...36 Phishing and Other Account Security Compromises...37 Password Safety...37 PC Safety and Security...37

MASTER ACCOUNT DISCLOSURE INTRODUCTION Welcome to Educational Employees Credit Union and thank you for becoming a member. This Master Account Agreement and Disclosure ( Agreement ) governs your membership in EECU and the accounts you open and maintain with us. The Membership Application you complete and the current versions of our Truth in Savings Disclosure and Schedule of Fees also govern your membership and accounts. You may also receive separate or supplemental disclosures and agreements for some of the services you request, such as loans and Online Banking. As used in this Agreement, EECU, Credit Union and we refers to Educational Employees Credit Union. You and Your refer to the accountholder. Keep this Agreement, your Truth in Savings Disclosure, Schedule of Fees and any notices we send you changing the terms of these documents with your permanent records. We will send you periodic statements that will let you know the status of your accounts. Eligibility for Membership and Services If you are within our field of membership, have no significant derogatory financial institution history, and satisfy our customer identification requirements, you can join the Credit Union by completing the Membership Application and depositing the required minimum balance to a regular savings account. Your membership makes you a shareholder/ owner of the Credit Union and entitles you to apply for all of our account and loan services. The par value of a share is $5.00. Minors in our field of membership may be required to have a responsible adult joint owner to open a Credit Union account. If you have questions about membership eligibility, please ask a Member Service Representative. GENERAL AGREEMENTS Consent to Account Agreements By signing a Membership Application and depositing the required minimum balance to a regular savings account or meeting any other membership requirement that may be established by the Board from time to time, you acknowledge that you have received, read, understood and consented to the terms of this Agreement, the current Truth in Savings Disclosure applicable to any account you have opened, and our current Schedule of Fees. If you are missing any of these documents, you can review them online at www.myeecu.org or request copies from any of our employees. You will consent to the specific terms of Credit Union loan products by signing applications for or credit agreements governing those products. The singular implies the plural if more than one person signs the Membership Application. Any person who becomes an agent on a Credit Union account agrees to comply with the terms of the governing account or agreement. Whenever you request a service, we have the right to review your credit and account history and other information we reasonably request. We can deny any service if we believe providing the service will cause us a 04

General Agreements loss or for any other lawful reason. We will not provide Credit Union services to any person who does not provide us with a valid U.S. taxpayer identification number or an IRS exemption certification. Governing Provisions/Changes in Terms Your membership and Credit Union services are governed by this Agreement, applicable California and federal laws and regulations, the Truth in Savings Disclosure, the current version of our Schedule of Fees, and the current version of our Bylaws. Credit Union loans are also governed by the applicable credit agreements and Truth in Lending Disclosures. To the extent any Truth in Savings Disclosure, Schedule of Fees, credit agreement, Truth in Lending Disclosure, Bylaw or change-in-terms notice is inconsistent with this Agreement, the more recent document shall control. Subject to applicable law, our agreements with you may be changed if (a) we send you a written change-in-terms notice that complies with applicable law, (b) we send you a revised version of this Agreement, a Truth in Savings Disclosure applicable to an account you have, or the Schedule of Fees, (c) you and our authorized representative agree to the change-in-terms in writing, or (d) a court to whose jurisdiction we are subject orders the change. We are not subject to court orders in actions to which we are not a party, such as divorce decrees. Documents such as sales receipts that you receive from third parties when you initiate transactions using Credit Union-issued devices (normally checks, credit cards, debit cards or ATM cards) may have terms printed on them. Those printed terms will not affect your agreements with us. A change-in-terms may include a change to an existing term, the addition of a new term, or the deletion of an old term. If you object to any change-in-terms, you can usually avoid its application by terminating the related Credit Union service. Change-in-term notices may appear in the Credit Union newsletter, your periodic statements or on separate notices we send you. If any provision of any agreement between you and us is found by a court of competent jurisdiction to be unenforceable, the remaining provisions of the agreement will continue in effect. Member Numbers Each individual or entity joining the Credit Union is assigned a unique member number or account number which accesses a savings account. Your savings account establishes your membership and is your core Credit Union account. You can establish additional sub-accounts, such as checking and certificate accounts, under the same member number as your savings account. A suffix is added to the member number to identify each different sub-account type you maintain. If a Membership Application includes one or more joint owners, all share, subshare, share draft and certificate accounts established under the assigned member number will have the same ownership combination. If, after establishing accounts under a member number, the ownership of any account open under that number is changed, the ownership of 05

MASTER ACCOUNT DISCLOSURE all accounts under that number will also change to the new ownership. Example: If the sole owner of a savings account and a checking account maintained under the same member number adds a joint owner to the savings account, the joint owner will also be added to the checking account tied to that member number. Any change in account ownership or access shall be in writing on a standard Credit Union authorization form. We may require that signatures be notarized on any request for change. Credit Union loans are also tied to the core member number. A suffix number is added to the member number to identify the loan. Obligors on Credit Union loans will be determined by who signs the credit application or credit agreement. If you want accounts with different ownership combinations, you should establish a separate member number for each ownership combination. For example, if you want a savings account with your spouse but a checking account in your own name, open the savings account under one member number and the checking account under a different member number. Even if you have more than one member number, you will only be permitted one vote in Credit Union elections. We will allow you to have different obligors on loans associated with a single member number; however, periodic statements will be addressed to the primary owner of the regular savings account maintained under the member number. Minimum Balance Requirements To remain a member in good standing and be eligible to receive Credit Union services, you must maintain any minimum savings account balance specified by the Board in the current Truth in Savings Disclosure. If your savings account balance falls below the required minimum you must deposit sufficient funds to restore the minimum savings account balance. Share Insurance Your Credit Union accounts are federally insured by the National Credit Union Administration (NCUA), a U.S. government agency. Federal insurance levels vary depending on federal insurance limits approved by financial institution regulators, account type, account ownership combinations and pay on death beneficiary designations. Visit www.ncua.gov or ask a Member Service Representative for more information about federal account insurance. Voting Privileges Each member, regardless of the number of accounts or the amount of savings on deposit, has one vote in the annual election to fill vacancies on the Board of Directors and Supervisory Committee. The Board of Directors and Supervisory Committee are officials elected from the membership to govern the Credit Union. Voting privileges are not transferable. Business Days Our business days are Monday through Friday excluding holidays. Deposits and payments that you give us up to 5 p.m. Monday through Thursday at any branch will be credited to your accounts the same busi- 06

General Agreements ness day and up to 6 p.m. on Friday. Deposits made at a drop box after 3:30 p.m. will be credited to your account the following business day. Statements/Permanent Records Promptly review and reconcile statement and other communications you receive from us and contact us if you have questions or concerns. If you do not receive an expected statement, contact us promptly to request a copy. We will send you periodic statement covering all transactions on your accounts and credit lines with us. If you have a checking account or electronic funds transfer activity we send statement monthly; otherwise we send statements quarterly. Your periodic statement may also include information about closed-end consumer loans such as auto loans. You agree that delivery of a periodic statement to the member on an account or loan constitutes delivery of the statement to all owners for the account and all obligors on the loan. If you enroll in e-statements, we will notify you by e-mail when statement and other communications are available for retrieval on our secure website and you are responsible for collecting them. We will have no liability or responsibility for communications that you do not retrieve or that are lost, damaged or mis-delivered by the U.S. mail or other third party delivery service. Tax ID Number and Withholding The certified and correct Tax Identification Number (TIN) of the primary accountholder and each joint owner must be provided for each account. For personal accounts, required tax information will be reported to the Internal Revenue Service (IRS) under the primary accountholder name and TIN. Any charge assessed by the Internal Revenue Service for an incorrect TIN may be charged to your account. We may withhold from your dividends amounts required by Federal Tax laws if you or the IRS advise us that you are subject to back up withholding or if you fail to provide your correct TIN. Email Email communication allows you to send and receive electronic mail messages to and from the Credit Union. The Credit Union will not immediately receive and review email messages that you send and will NOT process any request for a funds transfer via email. Further, the Credit Union may not act upon requests where written notification or your authorizing signature would normally be required without first confirming the authenticity of the email request. These may include stop payment requests, PIN replacement requests, reports of lost/stolen ATM or Visa cards, address change requests and lost/stolen PIN or unauthorized transaction reports (refer to the Your Liability for Unauthorized Transactions section). In some instances, written confirmation reflecting your authorizing signature may still be required. The Credit Union will not take action based on other email requests until the Credit Union actually receives your message and has a reasonable opportunity to act. 07

MASTER ACCOUNT DISCLOSURE Change of Address/Contact Information You agree to keep us informed of your current physical and mailing addresses and to promptly notify us in writing of any change of address. If you choose to receive communications from us via email, and our email messages to you are returned as undeliverable, we will attempt to reach you at any alternate email or postal address we have for you in our records. If paper or electronic correspondence is returned to us as undeliverable at the addresses we have for you, we are not required to continue to attempt to send paper or electronic mail to bad addresses. If you fail to notify us of a change in your physical or mailing address, we may charge a locator fee. You agree that we may contact you at any home, work or cell phone number, email address, mailing address or physical address that you provide when opening the account or at any later date. California Unclaimed Property Law If for three years (or the period called for by your state law if the address we have for you in our records if outside California), you initiate no communication with us and there is no activity on any Credit Union account of yours other than posting of dividends and deduction of fees, any account balances you have will be deemed abandoned and subject to forfeiture to the State of California (or your state of residence in our records), we will mail you notice required by applicable law that your funds will be subject to escheat if you do not contact us. Error Resolution Please review your statement promptly to be sure there are no errors. The Credit Union will be responsible for any errors which we make provided you notify us in writing within 30 days of the mailing of the statement containing the error. We will not be liable for our mistakes if you fail to notify us within the 30 day period. If we correct any error that we made, or accept any responsibility for a transaction, we have the right to collect the amount credited to your account from anyone else who is responsible. Our crediting your account will result in an automatic assignment to us of your rights to collect the amount from anyone else. If we make a careless error in handling your account, our liability will be limited to the actual damages. The maximum actual damage is the amount of the check. We will not be liable for consequential damages such as alleged harm to your credit standing, unrealized profits, emotional distress, or exemplary damages due to a claimed reckless disregard of the consequence of our actions. Prohibition on Illegal Activity You agree not to use any Credit Union products, devices or services to conduct illegal transactions. We can refuse to conduct transactions initiated on your accounts if we reasonably believe them to be illegal, but we have no obligation to determine the legality of transactions initiated by authorized persons. You cannot use the actual or alleged illegality of 08

General Agreements authorized transactions as a defense to your obligation to pay amounts you become indebted to us as a result of those transactions. Our Right to Freeze Accounts and Loans or Block Transactions We can freeze accounts and loans or refuse to complete transactions if any authorized person is in default on any material obligation to us, if we reasonably believe that allowing the requested transaction will cause us a loss or if we discover fraud or a breach of the Agreement. We may block accounts or decline transactions consistent with requirements imposed by laws, regulations or government agency directives. In case of conflicting instructions, we reserve the right but do not undertake the duty to freeze funds in any account or refuse to make loan advances until we receive consistent written instructions from all authorized persons or a valid order from a court of competent jurisdiction. Our Right of Offset If you owe us money, whether on a loan, because an item you deposited was returned unpaid causing a negative account balance, or for any other reason, and you fail to pay what you owe us consistent with your agreement with us or upon our lawful written demand, you agree that we can take any Credit Union shares in which you have an ownership interest (unless prohibited by law or the share agreement) to recover all or part of what you owe us without further notice to you. On joint accounts, our right of offset applies to all funds in the account if any owner of an account is in default on a payment obligation to us. If we exercise our rights under this provision, you agree that we are not electing a remedy or in any way waiving our rights to take other lawful action to collect any amount you still owe us. This consent is in addition to any right we have to impress a lien on shares under the California Financial Code or other applicable law. We are not subject to agreements between or among joint owners regarding ownership of funds in joint accounts. Member Conduct Policy For the safety and comfort of our staff, volunteers and members the Board has adopted a Member Conduct Policy. You must abide by the Member Conduct Policy. Under the Member Conduct Policy, you agree to conduct your Credit Union business in a civil and businesslike way. You should expect quality service and attention from us. We will not, however, tolerate verbal or physical harassment or abuse, disruptive behavior or violence or threats of violence. Visibly intoxicated persons or persons carrying weapons are not permitted on Credit Union premises. Breach of the Member Conduct Policy may result in the breaching individual being denied access to branches or other services, or expulsion from the Credit Union. In addition, we may seek a judicial restraining order if we reasonably deem it necessary for the protection of our staff, volunteers and members. If we obtain such an order against you, we may seek reimbursement of our reasonable attorney s fees and costs, which will bear interest at the legal rate. 09

MASTER ACCOUNT DISCLOSURE TRUTH IN SAVINGS DISCLOSURE The separate Truth in Savings Disclosure and Schedule of Fees (which may be combined in a single document or printed separately) are given to you when you open a new sub-account and provide current terms including required balances, dividend rates and transaction limits. The effective date of each Truth in Savings Disclosure and Schedule of Fees is printed on it. Your periodic statements will provide required information on established accounts, such as dividend rates, dividends earned and fees assessed. You will receive notice required by law of any changes to rates, terms or fees on your accounts. In most cases, rate changes are reflected on your periodic statements only. Regular Savings Account (Suffix 0) A regular savings account with the minimum balance specified on the Truth in Savings Disclosure is required to maintain membership. Savings Sub-Share Accounts (Suffix 2, 3, 4, 5 and 7) Savings sub-share accounts may be opened under your primary member number if you wish to maintain funds separately for a special purpose like a vacation or insurance payments. Holiday Wise Club Account (Suffix 1) This account lets you save money for the extra expenses of the holiday season with dividends and the account balance paid out near the end of the calendar year. Minor Account (Suffix 6) Young members under the age of 18 can participate in our special youth programs which give them the opportunity to acquire financial literacy and learn to manage accounts responsibly. Youth accounts owned by minors may require an adult joint owner. Checking Account (Suffix 8) Regular Checking offers a full range of checking and electronic services. A responsible adult joint owner may be required for members under the age of 18. Second Chance Checking offers services to members with a negative checking account or check writing history. Certificate Accounts Certificate accounts typically offer our highest rate of return for a specific period. The term length, dividend rate and annual percentage yield are set when you open the account. Certificates can be opened on personal, organization, fiduciary or IRA accounts. Individual Retirement Accounts (IRAs) A Traditional IRA or Roth IRA may offer tax-deductible contributions or tax-deferred or tax-free earnings. IRA funds can be maintained in savings or certificate accounts on a separate account number. Tax penalties may apply to early withdrawals. Consult a tax advisor. 10

General Account Terms GENERAL ACCOUNT TERMS Account Transactions We may refuse to honor your instructions if we are uncertain of your signature or if the signature appears to be altered or not authentic. All accounts are subject to fees as outlined in the initial disclosure and Schedule of Fees. We may debit your account for applicable fees without your written approval. The use of Electronic Funds Transfer (EFT), ATM, Visa Debit Card, or Personal Telephone Access (PTA) is governed by the Electronic Funds Transfer Agreement and Disclosure Statement. The use of Online Access and Online Bill Pay are governed by the Online Access Agreement and Disclosure. Anyone who signed the account signatures portion of the Membership Application is authorized to deposit or withdraw savings from the account. Any payment or transaction authorized by you shall be considered valid. You agree to indemnify and hold the Credit Union harmless from any suits or liability directly or indirectly resulting from the handling of the account consistent with the instructions of any authorized person. All owners on an account will be responsible for all overdrafts, whether or not they signed the item or benefited from the overdraft. Deposits can be made by Direct Deposit, Payroll Deduction, ATM, EFT/ ACH, Remote Deposit Capture, PTA, Online Access, wire transfer or deposit-sharing network ATMs. They can be made in person or by mail. All deposits will be subject to the Funds Availability Policy section of this Agreement. Some deposit methods may not be available on special purpose accounts like IRAs and Trusts. Withdrawals can be made by you by ATM, EFT/ACH, PTA, Online Access, Online Bill Pay, preauthorized one-time or recurring transfer, wire transfer request, telephone or by using your Visa Debit Card at point-ofsale (POS) terminals and participating Visa merchants. They can also be made by check if you have a checking account. They can be made in person or by mail. Withdrawals made by PTA, Online Access, Online Bill Pay or telephone will be payable to the primary accountholder and will be mailed to the address in the Credit Union s records. Some withdrawal methods may not be available on special purpose accounts like IRAs and Trusts. There is no limit to the number of withdrawals or transfers you can make by ATM or at our teller windows. However, government regulations limit the number of non-personal withdrawals/transfers from any savings account to six per month. Non-personal withdrawals/transfers are defined as automatic overdrafts, phone/fax transfers to a third party, transfers made through PTA, Online Access, Online Bill Pay, and preauthorized automatic ACH transfers. As a financial institution governed by the State of California the Credit Union is required to report a cash deposit or withdrawal transaction over $10,000 to the Federal government as required under the Bank Secrecy 11

MASTER ACCOUNT DISCLOSURE Act. Under certain circumstances, transactions for lesser amounts may be reported. The Credit Union has the right to offset any debt you owe us with funds in any of your Credit Union accounts. If you do not timely pay any debt you owe us, you agree to reimburse us for our reasonable collection costs. If we have to sue you to collect any debt you owe us, whether related to a loan or an account you have with us or arising out of any other circumstance, you agree to pay our reasonable attorney s fees and costs of suit. The Board of Directors may establish a waiting period of up to 60 days for withdrawals. Endorsements and Right to Supply Missing Endorsements We may refuse to accept for deposit checks or other items that are staledated (more than six months old), lack proper endorsements, appear to have been altered, are not made payable to you or that we may otherwise reasonably determine could cause us a loss. However, we have no obligation to refuse items presented for deposit to your accounts. In general, we have the right to supply missing endorsements on noncash items as long as the items are deposited to accounts of persons to whom they are payable. We also have the right, but not the obligation, to refuse to accept for deposit items that are not properly endorsed. Items Payable to You Alone: We can accept these items for deposit to any account of which you are an owner in our records, whether or not you have endorsed the item, and whether the account to which it is deposited is shown on our records as a joint account or a single owner account. Items Payable to You or One or More Other Persons: We can accept these items for deposit to any account of which one of the payees is an owner in our records, regardless of whether any of the payees has endorsed the item and whether the account to which the item is deposited is shown in our records as a joint owner or single owner account. Items with more than one payee on which it is ambiguous as to whether the item is payable in the alternative (or) or only to all payees together (and) are considered payable in the alternative. Items Payable to You and One or More Other Persons: We can accept these items for deposit to any account on which you and all the other payees are joint owner in our records, regardless of whether any of the payees have endorsed the item. If all payees have endorsed the item for deposit to an account that any payee has with us, we can accept the item for deposit to that account even though all payees are not owners of the designated deposit account. Items Not Payable to You: If an item is not payable to you but has been endorsed over to you by the payee on the face of the item, we can refuse to accept the item for deposit to your account or require that the payee s financial institution provide an endorsement guarantee. Your Responsibility for Deposited Items We operate in an automated processing environment and do not physically examine items deposited to your accounts unless you deposit them 12

General Account Terms in person to a Credit Union teller. You agree to examine items you wish to deposit and bring to our attention any evident irregularities, such as obvious alterations or missing drawer signatures. You agree that you will be responsible for ensuring proper endorsement of deposited items. You will be responsible for and hold us harmless from any losses or costs we incur as a result of the deposit of items that are irregular on their face into an automated deposit processing environment such as an ATM. You agree to defend, indemnify and hold us harmless from any claims, losses, liability, damages or expenses we incur as a result of accepting an item for deposit to your accounts, unless we fail to exercise ordinary care under the circumstances in accepting the item. Our making funds available to you from a non-cash deposit is not a guarantee or representation by us that the item deposited to your account will be paid. All credits to your accounts are provisional until we receive final payment from the institution on which the item is drawn. If you are concerned about the validity of an item you want to deposit, you should contact the financial institution on which the item is drawn. No Credit Union employee has the expertise or authorization to give you an oral or written opinion or guarantee that an item you deposit will be paid and any such communication should be interpreted only as that employee s guess and not as a guarantee by that individual or by us. If the paying financial institution lawfully returns an item you deposit, we will deduct the amount of the item from your account, even if you have already withdrawn the funds and even if the deduction results in a negative balance. You must, upon our demand, immediately restore any negative balance that results from our deducting erroneous deposits or uncollected deposits from your accounts. You also agree to pay upon demand any cost or loss we incur as a result of accepting items for deposit to your accounts. If you do not do so, our Right of Offset applies. If we cannot restore the negative balance by exercising our Right of Offset, you agree that we have the right to recover collection costs. Exercise caution in entering into transactions or depositing items from unfamiliar sources as they may be fraudulent. If an item is deposited to your account from an unfamiliar source or in an amount you did not expect, delay withdrawing the funds even if we make the funds available to you. You will be responsible to us for any loss we incur, such as a negative balance in your account, if you withdraw funds from a deposited item that is later returned unpaid, even if you had no knowledge that the deposited item was fraudulent. Credit Union Official Checks We may allow you to withdraw funds from your account or take a loan advance by purchasing an official check from us. We are, under normal circumstances, guaranteeing payment of the official check. Official checks should be handled with great care as they are functional cash equivalents and payment cannot normally be stopped. We will accept a request for a refund or replacement of an official check only if you give us a written declaration under penalty of perjury stating 13

MASTER ACCOUNT DISCLOSURE that the official check was lost, stolen or destroyed before you negotiated it or delivered it to the payee. If the official check was lost, stolen or destroyed after delivery or attempted delivery to the payee, the payee must also sign a written declaration under penalty of perjury that the check was lost, stolen or destroyed before the payee negotiated it. If we receive the request after we have paid the official check, we will have no responsibility for the loss. We are not obligated to issue a replacement official check until 90 days after its date. We reserve the right to require you to post and pay for a lost instrument bond before we will issue a refund or replacement. We are discharged from further liability if we refund an official check by crediting the account or credit line from which you obtained the funds to purchase it, or if we replace the official check by issuing a new one. If a holder in due course presents the original official check for payment after we have refunded or replaced it, you must pay the amount of the original official check to the holder, or to us if we are required to pay the holder. If you do not pay upon our reasonable demand, you agree that our Right of Offset applies. If we cannot recover the amount by exercising our Right of Offset, you agree that our right to recover collection costs applies. YOUR CREDIT UNION ACCOUNTS Earnings and Payment of Dividends Credit Union accounts are share accounts and represent an ownership interest in the Credit Union. The earnings on your Credit Union accounts are called dividends. Not all Credit Union accounts earn dividends. See the current Truth in Savings Disclosure for dividend rates and Annual Percentage Yields (APY) on our accounts. The current Truth in Savings Disclosure includes dividend rates and APYs, dividend cycles, dividend calculation methods and other information about earnings and costs associated with your Credit Union accounts. Your periodic account statements will also disclose the dividend rate, APYE (Annual Percentage Yield Earned) and fees for each dividend-bearing account you maintain. Ownership of Accounts and Pay on Death Beneficiaries A member owns all accounts established under his or her member number. An account on which only the member is an owner is called an individual account. Accounts may, unless prohibited for the account type, have more than one owner. Such accounts are called joint accounts. At least one owner of each Credit Union account must be a member. Any owner may pledge funds in his or her account as security for a Credit Union loan, unless the account is prohibited from being pledged. For example, checking accounts and IRAs may not be pledged as security for loans. If any owner becomes indebted to us and does not meet his or her payment obligation, funds in any account of which he or she is an owner will be subject to our Right of Offset. 14

Your Credit Union Accounts Each owner of a Credit Union account will be subject to review of his or her financial institution history and must satisfy our Customer Identification Program requirements. Pay on Death Beneficiaries: Owners may designate pay-on-death beneficiaries (POD beneficiaries) on most Credit Union accounts, including DBA accounts, although they are not permitted on fiduciary or entity accounts. Designation of POD beneficiaries may increase federal account insurance coverage. If an account names no POD beneficiaries, funds pass upon the death of the owner (or all owners in the case of a joint account) to the estate. Until the death of all owners, POD beneficiaries have no right to or interest in the funds in accounts on which they are designated, no ability to control disposition of the funds and no right to information about the accounts. Under community property law (applicable in California), a married person may open an account with joint owners or POD beneficiaries other than his or her spouse without spousal consent. However, at the death of the married person, the spouse may assert claims against funds in the account that will affect surviving owners or POD beneficiaries claims to the funds. Although funds transfer automatically at death to any designated POD beneficiaries, a representative of a deceased owner s estate will be entitled to information about transactions on the account prior to the owner s death, including the account balance at the time of death and the identity of POD beneficiaries. Any disputes among owners, POD beneficiaries or third parties regarding rights to funds in your accounts must be resolved among the claimants without our involvement. Upon request by any owner or agent on an account, we will freeze funds in the account until we receive consistent written instructions from all owners and agents regarding disposition of funds in the account. Individual Account Ownership: On an individual account the person signing the Membership Application owns all the funds in the account and may deposit or withdraw any amount in the account. The owner may withdraw all funds and close the account. We will require that the minimum balance be maintained if there is an outstanding loan or VISA balance on the account or if the owner has an IRA, DBA or separate trust account with the Credit Union. Upon the death of the member, funds in the account pass, outside of any probate, will or trust of the member, to the POD beneficiaries, in equal shares unless the Membership Application specifies a different percentage. If there are no POD beneficiaries, funds pass to the owner s estate. Joint Account Ownership: On a joint account, each person signing the Membership Application owns all funds in the account, including all dividends, with right of survivorship. Right of survivorship means that when one owner dies, the funds are automatically owned by the 15

MASTER ACCOUNT DISCLOSURE remaining owner(s) of the account. We do not allow other forms of account ownership, such as community property or tenancy in common. All funds, including dividends, are jointly and equally owned by the account owners regardless of source or amount of contribution. Any owner or authorized person may deposit or withdraw any amount in any account of which he or she is an owner. Once any owner or authorized person withdraws funds from an account, the right of all other owners to the withdrawn funds terminates. We are not subject to agreements between or among account owners of joint accounts as to entitlement to the funds. Any dispute among owners of joint accounts regarding entitlement to funds must be resolved among the owners without our involvement. Any owner may terminate the other signer s rights by withdrawing all funds from and closing the account. We will require that the minimum balance be maintained if there is an outstanding loan or VISA balance on the account or if any member has an IRA, DBA or separate trust account with the Credit Union. Upon the death of the primary member on a joint account, the account may remain open and the account may be retitled if the joint accountholder is a spouse or registered domestic partner. Otherwise, the remaining owners must transfer funds to another Credit Union account. If none of the joint owners are eligible for membership the funds must be withdrawn and the account closed. On joint accounts with POD beneficiaries where the last surviving owner is the member, funds will pass at the death of the member to the designated POD beneficiaries in equal shares unless the Membership Application specifies a different percentage. If there are no POD beneficiaries, funds pass to owner s estate. Adding or Removing Account Owners and POD Beneficiaries: To add new owners to your accounts, you must complete an updated Membership Application, which must be signed by you and the new owner(s). The new owner(s) must satisfy our financial review and Customer Identification Program requirements. To remove owners from your accounts, either the owner being removed must consent in writing to the change or the account must be closed and funds transferred to a new member number. Non-member owners cannot open a Credit Union account under a new member number unless they are eligible, apply and are approved for membership. POD beneficiaries may be added, changed or removed at any time an account is open. To add, change or remove POD beneficiaries, an owner must sign a form approved by the Credit Union. The most recent Membership Application or POD beneficiary instructions on file with us will govern ownership and POD beneficiaries on your account(s) under that member number. For example, if you originally designated a POD beneficiary but your most recent updated Member Application does not name a POD beneficiary, we will assume that you want funds to pass to your estate at your death. 16

Share Draft (checking) Account Transactions DBA, Organization and Special Purpose Accounts We offer Doing Business As (DBA) accounts to help meet the needs of members who own small businesses and organization accounts for school affiliated organizations within our field of membership. These accounts may be subject to additional documentation requirements and restrictions. They have a separate account number and are subject to additional terms outlined in the DBA/Organization Account Agreement. We may decline to open a DBA or organization account, restrict services or close an existing account if, at our sole discretion, we do not believe we can efficiently service the business or organization account, the transaction volume becomes excessive, we discontinue or restrict the offering of this type of account or we, in our sole judgment, believe the account poses a risk to the Credit Union. Fiduciary Accounts We offer fiduciary accounts for trusts, conservatorships, guardianships, estates, Uniform Transfers to Minors and social security representative payees. Irrevocable trust accounts are not offered but may, under certain circumstances, be opened with special approval. Fiduciary accounts require separate applications and may be subject to additional documentation requirements. In addition to this Agreement, fiduciary accounts are governed by terms outlined in a separate agreement that relates to the specific type of account opened. In general, if a person is already a member, the following fiduciary accounts may be established under a separate account number: A revocable trust account where the member retains the power to revoke the trust or where the member is the beneficiary. A conservatorship account where the member is the conservatee. A guardianship account where the member is the ward. A Uniform Transfers to Minors Act account where the member is the minor beneficiary. A social security representative payee account where the member is the beneficiary. An estate account where the member is deceased. SHARE DRAFT (CHECKING) ACCOUNT TRANSACTIONS Checks Honored We will only honor completed, signed, and endorsed checks. We will not guarantee checks printed by other vendors. Spoiled checks should be destroyed or, if retained, voided. The carbon copy in the checkbook should also be marked void. Laws and Rules Governing Checking Transactions Checking transactions will be governed by the California Commercial Code, Federal Reserve Board Regulations and Credit Union procedures, as changed from time to time. 17

MASTER ACCOUNT DISCLOSURE Stale Dated Checks The Credit Union is under no obligation to pay a check on which the date is more than six months old. If we do pay it, we will not be liable to you for any costs or damages. Post Dated Checks Post dated checks may be cashed if presented by the payee before the date unless you have given us notice enough in advance to avoid paying the check until the date on the check. The notice is effective for six (6) months, if in writing (14 days if oral) and may be renewed for an additional six (6) month period. Non-cash Deposits Non-cash deposits are made available only after the times specified in the Funds Availability Policy section of this disclosure. Please observe these delays in writing checks on your account, unless you intend to rely on your overdraft protection. The Credit Union may refuse to accept for deposit checks that appear to have been altered or are not made payable to you. Account deposit tickets in the back of your checkbook should be used for all deposits. ACH Conversion of Checks In some cases, when you write a check to a merchant or send a check to a creditor to pay a bill, the check may be converted to an Electronic Funds Transfer (EFT). This will be debited against your account in the same manner as if we had received the actual paper check. Preauthorized Drafts A preauthorized draft is created when you give someone (such as a telemarketer or a creditor to whom you owe money) your checking account number and the routing and transit number and authorize them to debit your checking account for an agreed upon amount. Any preauthorized draft presented to the Credit Union after you have voluntarily given your checking account information to the payee is considered authorized by you, even though you have not signed a check. Check 21/Electronic Check Clearing Many checks you write will be processed electronically, with the result that checks written on your account can clear in a matter of minutes or hours. This makes it important that you do not write checks against deposits that have not yet become available (see the Funds Availability Policy) unless you intend to rely on available Overdraft Protection. Non-Sufficient Funds Items If you do not have enough money in your checking account to pay a check or other debit presented for payment we will consider that debit to be a Non-Sufficient Funds (NSF) item. A NSF fee as shown on the Schedule of Fees will be charged to your account for every NSF check or other transaction made with your checking account number, Automated Clearing House (ACH) debit or Online Bill Pay payment. Checks you write on insufficient funds may be re-presented by the payee for payment through the ACH system if the payee notifies you 18

SHARE DRAFT (CHECKING) ACCOUNT TRANSACTIONS of this possibility when you write the check. This is called a RCK Entry. Checks on which the signature is forged, altered checks, checks for over $2,500, checks returned for reasons other than NSFs or checks re-presented for than 180 days after their original date are not eligible for ACH re-presentment. We have the right to offset a returned NSF item with the proceeds of any other account in which you have an interest. The same rules apply if an item is returned for which you have obtained cash. Overdraft Protection from Savings or Overdraft Loan You can establish overdraft protection for your checking account by authorizing overdraft protection transfers from your savings account or by signing up for an open-end overdraft protection line of credit. As long as you have available funds in your designated savings account or have credit available on your line of credit and are not in default on any of your obligations to us, the overdraft will be paid. If you set up more than one overdraft protection source by agreement, we can choose the source(s) to access in any order. Overdraft protection from savings or an overdraft protection line of credit covers checking account debit transactions including checks and other transactions made using your checking account number, ACH debits, Online Bill Pay payments and Point of Sale transactions authorized with a PIN or signature. Overdraft Protection Savings Account Transfers: Overdraft protection transfers from savings accounts will be available only if you authorize them verbally or in writing. No more than six overdraft protection transfers from your regular savings account are permitted in any calendar month. Overdraft protection transfers will be made in $100 increments, unless there is less than $100 available in your savings account. If that happens, and your available savings balance is enough to cover the overdraft, the remaining savings account balance will be transferred. Transfers will not be made if the transfer would cause you to fall below any required minimum balance on the source account or would cause you to exceed your monthly transfer limits. Overdraft protection transfers may be subject to a transfer fee. Refer to the current Schedule of Fees. Overdraft Protection Loan Advances: Overdraft protection loan advances require that you apply for, be approved for, and open an overdraft protection line of credit. Any overdraft advance from an overdraft protection line of credit will begin to accrue finance charges as soon as it posts to the credit plan account, and may be subject to an overdraft advance fee. Refer to the applicable credit agreement for details. Overdraft protection advances will be made in $100 increments, unless your overdraft protection loan source does not have sufficient available credit. If your available credit is less than $100 but enough to cover your overdraft, the remaining available credit will be transferred. 19

MASTER ACCOUNT DISCLOSURE Platinum Overdraft Discretionary Overdraft Protection We may consider paying your NSF checks and other transactions made using your checking account number, ACH debits and Online Bill Pay payments by discretionary overdraft protection through our Platinum Overdraft service. Platinum Overdraft means that we may, at our sole discretion, pay an item over the amount available in your checking account with the expectation that you will immediately deposit an amount sufficient to restore your account to a positive balance. Platinum Overdraft is a discretionary service and we are under no obligation to pay items when your account does not have sufficient funds, even if previous NSF transactions were paid. Payment through the Platinum Overdraft service will only be considered after all other sources of overdraft protection have been exhausted or if you have not set up another form of overdraft protection. With the exception of NSF Point of Sale (POS) transactions, the NSF fee will be charged whether we pay the item or return it as NSF. Refer to the current Schedule of Fees. You may opt out of Platinum Overdraft at any time if you prefer that we return NSF items and not consider paying them. You can advise us of your wish to opt out verbally or in writing. Even if you do not opt out, we still reserve the right to return NSF debits when you do not have sufficient available funds. The Platinum Overdraft service may not be available in the following situations: (a) your checking account is new; (b) you are in default on any obligation you have to us; (c) in our sole judgment you have initiated too many checking account withdrawal transactions against insufficient funds; (d) the overdraft would cause your negative checking balance to exceed an amount determined by us; or (e) you have not opted in for the payment of POS transactions. Point of Sale (POS) Transactions: We will not authorize and pay everyday debit card POS transactions through Platinum Overdraft when there are insufficient funds in your account unless you ask us to do so ( opt in ). If you do not opt in these transactions will be declined. If you do opt-in and a transaction is presented against insufficient funds and we decide not to pay it, the NSF fee will be charged. Everyday debit card POS transactions include purchases at grocery stores, gas stations, restaurants and retail stores. If you want us to consider authorizing and paying overdrafts on your everyday debit card transactions you must let us know verbally or in writing. You may also opt in by visiting www.myeecu.org. Stop Payments To stop payment on a check, you must notify us before we pay the check. Oral notification must be followed up by a written request within 14 days of the stop-payment request may lapse at our option. You can use Online Access to submit a stop-payment request and we will treat the request as a written request A written stop-payment request is valid of twelve (12) months after which it will lapse unless you renew it. We will process 20

SHARE DRAFT (CHECKING) ACCOUNT TRANSACTIONS stop-payment requests promptly but will not be liable to you for failing to stop a check presented within 24 hours after we receive your request. Check stop-payment requests must include your name, your account number, the check number and the EXACT dollar amount of the check. Without this information we may not be able to locate the check to stop payment on it. We are not responsible for failure to stop a payment if you have not provided us with sufficiently accurate information to enable us to find the check and stop payment. You should also provide the date of the check and the name of the payee. If we do not carry out a timely stop-payment, we are not required to reimburse you if the check discharged your valid obligation. If we do reimburse you, you assign to us all claims for the funds against the person who obtained the funds and you agree to cooperate with our efforts to recover the funds. Other Transactions - You can also stop payment on certain types of EFTs, such as ACH payments and Online Bill Payments, if you notify us in time. Refer to the EFT section of this Master Account Disclosure or the Online BillPay Disclosure for details. Check Copies Your original checks will not be returned to you with your monthly statement. Copies of paid checks are available through Online Access or upon request. The Credit Union will furnish a free copy of the first two checks requested for each statement period. Copies of original checks beyond the first two checks requested are subject to a fee as shown on the current Schedule of Fees. The printing cost for your personalized checks will be deducted from your checking account. Closing Your Checking Account You may close your checking account by bringing your account to a zero balance and providing us with written instructions to close the account. Accounts in which there is no activity for 90 days may be closed at the Credit Union s option. We can close your checking account without notice if, in our reasonable judgment, you have misused your checking privileges. Misuse of a checking account includes but is not limited to (a) failure to have funds or overdraft protection available to cover checks, debit card payments and other withdrawal transactions, (b) kiting, (c) deposit of invalid items, (d) bankruptcy or other insolvency proceedings, or (e) your failure to observe terms of other agreements you have with us. Privacy and Disclosure of Account Information Identification: We reserve the right to verify your identity by any reasonable means before providing information to you or acting on your instructions. Parties to Your Accounts and Loans: Owners are entitled to information about accounts on which they are owners. Obligors are entitled to information about loans they are obligated to pay. A person who has pledged real or personal property as collateral for a loan but is not obligated to pay is entitled to know whether the loan is current or goes into default and 21

MASTER ACCOUNT DISCLOSURE the steps required to cure the default. Any person entitled to information can authorize release of information to third parties. If we have the written permission of such a person, we will release information consistent with that person s written instructions, even if we would otherwise be prohibited from doing so by law or our announced policy. Combined Statements: There may be situations in which some subaccounts under an account number do not have identical owners or obligors. For example, a member might have a savings and checking account with a joint owner but a loan with the member and a joint obligor different from the joint owner on the savings and checking. We combine periodic statements for most of our services, meaning that a single statement covers multiple accounts and loans maintained under the primary account number. Combined statements are addressed to the primary owner of the regular savings account. The member and all other owners of accounts maintained under the member number and all other obligors on loans maintained under the member number consent to the delivery of combined statements, even though this may result in release of information about an account or loan to which the addressee is not a party. Pay-on-Death Beneficiaries: Information about accounts is not released to pay-on-death beneficiaries until the death of all owners entitles the pay-on-death beneficiaries to the funds in the account. Former Owners and Obligors: A former owner or obligor can obtain information about activity on the account he or she owned or the loan on which he or she was obligated that took place while he or she was an owner or obligor. Information about activity that occurred during a period when he or she was not on the account will not be released without the current account owner s written permission or valid legal process such as a subpoena or court order. Third Parties: Consistent with legal and regulatory requirements and our Privacy Policy, we generally do not disclose information to third parties about you or your accounts or loans. However, there are some exceptions, for example (a) when necessary to respond to valid legal process, (b) when necessary to carry out transactions you request, (c) when necessary to conduct our business, (d) when necessary to comply with the law or valid government agency information requests, (e) when necessary to investigate claims of unauthorized use of your accounts or loans, or (f) to credit bureaus and merchants confirming the existence and status of your accounts and loans. This is not an exhaustive list of situations in which we may release information about you or your Credit Union accounts or loans to third parties. Refer to our separate Privacy Policy for more information on our privacy policy and practices. Tax Reporting: We comply with tax reporting requirements, including but not limited to reports to the Internal Revenue Service of earnings on your accounts, interest collected from you on real-estate secured loans and discharged debt. We do not provide tax advice. 22

Related Services RELATED SERVICES Direct Deposit Services With Direct Deposit service, you authorize us to deposit periodic payments from a government agency such as Social Security and Supplemental Security Income (SSI) benefits into your Credit Union accounts. To obtain this service, call the Social Security Administration at (800) 772-1213 or visit one of our branches. Allow up to 90 days for the direct deposits to start. Other types of payments eligible for automatic deposit are Federal Retirement, PERS or State Teachers Retirement benefits. With Automatic Payroll Deposit, you authorize your employer to deposit all or part of your wages into your Credit Union accounts. Funds Transfer Services The following provisions apply to funds transfers you send or receive through us. These provisions supplement the separate agreements you have with us for these services. The following terms: funds transfer, payment order, and beneficiary are used here and defined under Division 11 of the California Commercial Code (UCC4A). A funds transfer is the process of carrying out payment instructions that lead to paying a beneficiary. The payment order is the instructions you give or we receive regarding a funds transfer. The beneficiary is the person who receives the payment. Funds transfer services include wire transfers, transfers through an Automated Clearing House (ACH) system and automatic transfers between Educational Employees Credit Union accounts. We may charge fees for sending a funds transfer. Wire Transfers We can process wire transfers from your account and will carry out your written instructions. We will also receive wire transfers for you. Wire transfers are subject to applicable law and regulation, including the terms of Federal Reserve Regulation J Article 4A of the Uniform Commercial Code, and for outgoing international wires the Remittance Transfer Rules of Regulation E. California law governs EECU wire transfers. If Remittance Transfer rules apply to an international wire you will receive a disclosure to that effect when you initiate the wire. Wires sent and received will be reflected on your periodic account statement. You agree to report any errors or unauthorized activity within 14 days. If you do not report an error or unauthorized wire within 30 days after we mail you the statement on which it appeared, we will not be responsible for any resulting loss. With respect to international wires, you may have a longer time to report errors or unauthorized activity. You will receive a disclosure of international wire dispute rights that exceeds these time limits, if any, when you initiate an international wire to which extended reporting times apply. Wire transfer instruction errors may delay the sending or receipt of your wires. We can refuse to carry out wire instructions if we have reason to believe that following the instructions will cause us a loss. 23

MASTER ACCOUNT DISCLOSURE Wire Transfers We Receive: We will carry out the terms specifically as transmitted by the sending financial institution. We have no obligation to correct erroneous spelling or account numbers. We will follow account numbers in posting incoming wires, unless we have actual knowledge that the name and account number do not match. If we have actual knowledge that the name and account number do not match, we may, at our option, post the wire according to the account number or return it to the sending institution. We will not be responsible for any direct or consequential claims, damages, losses or liability that you allege occurred due to a failure to post a wire to your account if the failure was due to an error in the name or routing number provided by the sender, or an inconsistency between the name and account number provided by the sender. We are responsible only for our failure to accurately comply with the instructions provided by the sender, and our liability is limited to the amount of the wire. We will not be liable for any alleged consequential damages resulting from our error, such as lost business opportunities or harm to your credit standing. Unless a specific account number and share suffix are indicated, we will post wired funds to your savings account. If we receive an erroneous wire to your account, the sending party can request reversal of the transaction. We will notify you if this happens. If the amount of the wire is deducted from your account, you agree to immediately restore any resulting negative balance upon our demand. If you do not do so, you agree that our Right of Offset as stated in this disclosure applies. If we cannot recover the negative balance by exercising our Right of Offset, you agree that we have the right to recover collection costs. We are not required to provide notice to you if we receive a wire transfer on your behalf. It is your responsibility to confirm that funds you receive via wire transfer are posted to the appropriate account. You can do this by calling our Member Service Center, visiting a branch, by using Personal Telephone Access or by using Online Access. Wire Transfers We Send: We will follow your written instructions. We can rely on any account, routing and transit numbers that you furnish. We will not be responsible for any claims, damages, losses or liability to you or to any third party as long as we accurately follow the instructions, including account and routing numbers, that you give us. If we do make an error, our liability will be limited to the amount of the wire. We will not be liable for consequential damages allegedly resulting from our error, such as harm to your credit standing or lost business opportunities. We will not be liable to you for errors by other institutions involved in processing your wire request. You must provide the routing or transit number for the institution to which you wish to wire funds. If we attempt to assist you with determining routing or transit numbers we will do so only as an accommodation and will not be responsible for any errors. 24

Related Services We will follow security procedures. If you make your request in person, we may require photo identification and other identifying information. If you make your request by telephone, we may call you back at your telephone number in our records to confirm the request and we may also ask you to confirm a telephone request by a signed authorization letter before we will execute the wire. Requests submitted via Online Access, if the service is available, will be subject to security procedures described in the Online Access wire transfer request instructions. Any person to whom you have given actual, implied or apparent authority to initiate wire transfers out of your account or who gains access with or without your permission to the information necessary to initiate wire transfers out of your account is deemed to have been authorized to initiate the wire and you will be liable for the amount of the wire. We can refuse to carry out a wire transfer request or change order if we have reason to believe that doing so will cause us a loss. Cutoff Times: We have established cutoff times for receipt and processing of funds. Our cutoff time for wire transfers within the 12th district of the Federal Reserve System is 2 p.m., and outside the 12th district is 11 a.m. (Pacific Time). We may treat payment orders we receive after our cutoff time as received the next business day. Once a wire has been sent, it generally cannot be amended or canceled. International wires may be subject to cancellation for the time stated in the disclosure you receive when you initiate the wire. Your wire may be delayed if you give us erroneous information or if you have not kept your contact information at the credit union current. Providing Accurate Identification: If you give the Credit Union a payment order which identifies the beneficiary (recipient of the funds) by both name and identifying account number, payment may be made by the beneficiary s bank on the basis of the identifying or bank account number, even if the number identifies a person different than the named beneficiary. In addition, if you give the Credit Union a payment order which identifies an intermediary or beneficiary s bank by both name and an identifying number, a receiving bank may rely on the number as the proper identification, even if it identifies a different person than the named bank. Remittance Transfers: Remittance transfers are electronic transfers of funds outside the United State whether initiated via the ACH system or a wire service such as FedWire. They are governed by Regulation E and other laws and regulations governing wire transfers. When you initiate a remittance transfer, you will receive a written disclosure required by law. That disclosure will, among other things, explain how you can cancel a remittance transfer before it is sent and the time you have to do so. Automated Clearing House Transactions An ACH funds transfer is a separate agreement you have with us to process payment orders to receive or send funds from your Credit Union accounts. ACH transactions are governed by operating rules of the National Automated Clearing House Association. In accordance with 25

MASTER ACCOUNT DISCLOSURE these rules, the Credit Union will not provide you with notice of receipt of ACH credit transfers to your account. You will receive notices of receipt of ACH items in the periodic account statements which we provide. We may give you credit for ACH payments before it receives final settlement of the funds transfer. Any such credit is provisional until the Credit Union receives final settlement of the payment. You agree that if the Credit Union does not receive such final settlement, that it is entitled to a refund from you of the amount credited to you in connection with that ACH entry. Automatic Transfer Service Automatic transfer service allows you to transfer funds from savings or checking accounts to other savings or checking accounts at the Credit Union. Through this service you can also set up your loans for automatic payment from your Credit Union accounts. Circumstances Beyond Our Control Without any liability to you, we may not act or may delay in acting on a payment order or we may not credit or may delay in crediting a funds transfer to your account if any of the following occurs: Legal constraint Interruption of communication facilities Equipment failure War Emergency conditions Other circumstances beyond our control Potential violation of any guideline, rule, or regulation of any government authority ACCESS OPTIONS: ATM, PTA AND ONLINE ACCESS These convenient services let you have access to your account information seven days a week, 24 hours a day. To apply, call our Member Service Center, talk to a Member Service Representative or apply online. Automated Teller Machine Service (ATM) Most transactions can be completed by using EECU s ATM service, which offers 24 hour access any day of the week. Transactions available include balance inquiries, cash withdrawals, deposits, transfers, loan payments and loan advances. Along with this service, national ATM access is available through many major networks. A separate disclosure with additional terms and conditions will be provided with your ATM or Debit Card. Personal Telephone Access (PTA) With Personal Telephone Access (PTA) service, you can have 24 hour access to your account through an audio response system simply by talking to the Credit Union s computer by pressing the buttons on a touch-tone phone. This service will provide account and loan inquiries, 26

Funds Availability Policy transfers between accounts, transfer of funds to make loan payments and much more. Online Access and Online Bill Pay Using your personal computer with internet access, you can access your accounts through our secure web site. With Online Access you can do things like transfer funds between your accounts, find out if a check has cleared, and verify account balances. Upon your request, we will assign you a PIN to access your accounts through Online Access, and you will be required to change the assigned PIN to one of your own choosing at first login. With Online Bill Pay, you can use your personal computer to pay bills from your checking account. You can pay the same amount or a variable amount each month. You can also choose to pay bills individually as you receive them or schedule payment of certain bills automatically each month in a fixed amount. A separate disclosure with additional terms and conditions will be provided when you sign up for Online Access and Online Bill Pay. FUNDS AVAILABILITY POLICY Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. Electronic deposits will be available on the day we receive the deposit. Once the funds are available, you can withdraw them in cash, and we will use them to pay checks you have written. For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and Federal holidays. If you make a deposit before 5 p.m. (or before 6 p.m. at our Automated Teller Machines) on a regular business day that we are open, the Credit Union will consider that day to be the day of your deposit. However, if you make a deposit after these cut-off times, or on a day we are not open, we will consider that the deposit was made on the next business day we are open. Same Day Availability Funds from the following deposits consisting of items payable to you, endorsed by you and deposited with one of our tellers are available on the day of your deposit: U.S. Treasury checks, U.S. Government Agency checks, California State, county, city or public agency checks that are payable to you. Wire transfers. Cashier s checks, counter checks, teller checks payable to you. Checks drawn on Educational Employees Credit Union. The first $200 from a deposit of any other checks deposited in person or to an EECU ATM. Longer Delays May Apply In some cases, we will not make all of the funds that you deposit by check available to you on the same business day that you make your deposit. Depending on the type of check that you deposit, funds may not be avail- 27

MASTER ACCOUNT DISCLOSURE able until the second business day after the day of your deposit. The first $200 of your deposits, however, may be available on the first business day. If we are not going to make all of the funds from your deposit available on the same business day, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available. In addition, funds you deposit by check may be delayed for a longer period under the following circumstances: We believe a check you deposit will not be paid. You deposit checks totaling more than $5,000 on any one day. You redeposit a check that has been returned unpaid. You have overdrawn your account repeatedly in the last six months. There is an emergency, such as failure of communications or computer equipment. We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the second business day after the day of your deposit. Deposits at Automated Teller Machines: Funds from any deposit (cash or checks) made at Automated Teller Machines (ATMs) we do not own or operate may not be available until the fifth business day of your deposit. This rule does not apply at ATMs we own or operate. Foreign Checks: Checks drawn on financial institutions outside of the United States (foreign checks) cannot be processed the same as checks drawn on United States financial institutions. Foreign checks are exempt from the policies outlined in this policy. Generally, the availability of funds for deposit of foreign checks will be delayed for the time it takes us to collect the funds from the financial institutions upon which they are drawn. Special Rules for New Accounts If you are a new member, the following rules will apply during the first 30 days your account is open. Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers and the first $5,000 of a day s total deposits of cashier s, certified, tellers, traveler s, federal, state, and local government checks will be available on the first business day after the day of your deposit if the deposit meets certain criteria conditions. For example, the checks must be payable to you (and you may have to use a special deposit slip). The excess over $5,000 will be available on the ninth (9th) business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,000 will not be available until the second business day after the day of your deposit. 28

Electronic Funds Transfer Disclosure And Agreement Funds from all other check deposits will be available no later than the ninth (9th) business day after the day of your deposit. Accounts opened by new members will be subject to all other rules for funds availability mentioned in the other sections of this disclosure in addition to those stated in this section. Your Liability Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit. ELECTRONIC FUNDS TRANSFER DISCLOSURE AND AGREEMENT This Electronic Funds Transfer Disclosure and Agreement ( EFT Agreement ) applies only to accounts of a consumer or natural person as defined in the Electronic Funds Transfer Act. Electronic Funds Transfers refers to any deposit or withdrawal transaction to an account if it is initiated through an electronic terminal, telephone or computer. This includes transactions at an ATM, at a merchant using your ATM Card or VISA Debit Card, by Personal Telephone Access (PTA), by Online Access Home Banking/Online Bill Pay, by checks converted to electronic transactions by a merchant and via the Automated Clearing House (ACH) network. Excluded from EFTs are transactions initiated by wire transfer, check or other paper instrument and electronically represented checks. By requesting, retaining or using any EFT access device, you consent to the terms and conditions of this EFT Agreement and any other separate agreement that governs the terms of the specific service being used. Access device includes plastic cards, Personal Identification Numbers (PINs) and any combination of these devices. The terms of this EFT Agreement may be amended by us by providing you notice required by law. You agree to comply with rules as amended by us, by our electronic switch providers and by changes imposed by legislative or regulatory bodies with jurisdiction. We and our electronic switch providers may follow electronic instructions submitted by you and authorized users of your accounts. Any access device we issue to you, such as an ATM or Debit Card, is our property and you agree to return it to us upon our request. Confidentiality With respect to EFTs, we will disclose information to third parties about your accounts or transfers you make only: When necessary to complete a transfer; or, To verify the existence and condition of your account for a third party, such as a credit bureau or merchant; or, To comply with government agency, court orders or other valid legal process; or, 29

MASTER ACCOUNT DISCLOSURE As needed to investigate claims of error, unauthorized use or to handle merchant disputes; or, If you give us your written permission. Refer to our Privacy Policy for additional information about how we maintain the security of your personal and financial information. Your Responsibility for Your Equipment You have sole responsibility for equipment, systems and services you use to access EFT services or conduct EFT activity, such as your telephone equipment, telephone service and computer hardware, software, internet service, virus protection and firewalls. Documentation of Transactions ATM Transactions: ATMs you use will provide transaction receipts unless you elect not to get one or you are notified that receipts are unavailable when you initiate your transaction. Merchants: Merchants that accept your ATM or Debit Card card are required to provide you with transaction receipts. Online Bill Pay Transactions: EFTs will show in your Online Access history as they soon as they post to your accounts. EFT Debits and Credits: EFT debits and credits appear on your monthly paper or electronic statement. You can use Online Access or PTA or call our Member Service Center to find out whether or not an expected EFT debit or credit has occurred. Preauthorized Credits: Direct deposits to your account from third parties must be arranged by you with the person or company making the deposit. The entity making the deposit will tell you when they send the money. You can use Online Access or PTA or call our Member Service Center to find out whether or not the deposit has been made. Our Liability If we do not complete an EFT to or from your account according to our agreement with you, we will be liable for your direct losses or damages. However, there are some exceptions. We will not be liable if: Through no fault of ours, you do not have enough money in your account or agreed upon overdraft protection sources; or, An ATM you are using does not have enough cash; or, An ATM, system or EFT device was not working properly and you knew about the breakdown when you started the transaction; or, Funds in your account(s) are subject to legal process or other claim; or, Your access device was reported lost or stolen and we blocked its use; or, Circumstances beyond our control (such as fire, flood, electrical failure or system malfunction) prevent completion of the transaction despite our reasonable precautions; or, We establish and give you legally required notice of other lawful exceptions. 30

ELECTRONIC FUNDS TRANSFER DISCLOSURE AND AGREEMENT In no event will we be liable for consequential, indirect or punitive damages due to our failure to complete EFTs. Your Liability for Unauthorized Transactions You are responsible for all transactions and charges incurred by your use of your ATM or Debit Card or other access device, or use by anyone you authorized. If you give someone your card or PIN, that person can complete any transaction that you can complete yourself. Transactions made by a person to whom you have voluntarily given your card or PIN are considered authorized, regardless of whether they stay within the limits you set on that person s permission to access your accounts. We are not a party to agreements you make with other people regarding use of your access devices. The only way you can stop a person to whom you have given an access device from making further use of the device is to ask us to cancel the device. Tell us AT ONCE if you believe your card, PIN or other access device has been lost, stolen or otherwise made available to an unauthorized person. Also tell us if you believe someone has transferred or may transfer money out of your accounts without your permission. Telephoning is the best way to keep your possible losses down. You could lose all the money in your accounts (plus your maximum overdraft protection line of credit). If you tell us of the actual or possible loss, theft or unauthorized access to your access device(s) within TWO (2) business days after you learn of the loss, theft or unauthorized access, you can lose no more than $50 if the access device was used without your permission. If you DO NOT tell us within two (2) business days, and we can prove that we could have stopped the unauthorized use, you could be responsible for up to $500. If your STATEMENT shows unauthorized transactions, notify the Credit Union AT ONCE. If you do not tell us within SIXTY (60) days after we mailed the statement or notified you that it was available for electronic pick-up, we are not obligated to return any money you lost after the sixty (60) days, if we can prove that we could have stopped someone from taking the money if you had told us in time. You could lose all the money in your accounts (plus your maximum overdraft line of credit). If a good reason, such as a hospital stay, kept you from telling us, we may extend the time periods. Special VISA Debit Card Rules: You agree to notify us at once of the loss, theft or other actual or potential unauthorized use of your VISA Debit Card or PIN. Under VISA Operating Rules, you will generally have no liability for unauthorized use of your card. However, if you are grossly negligent in handling your card or PIN, you may be liable for up to $50 in unauthorized use. In addition, if your statement shows any transactions you did not make, and you do not report the unauthorized use to us within SIXTY (60) days after we sent you the FIRST statement on which unauthorized transactions appeared, you will be responsible for any unauthorized use that occurs after the sixty (60) day period. As a member-owner of the Credit Union, realize that it benefits all Credit Union members if losses due to unauthorized use claims are kept to a minimum. 31

MASTER ACCOUNT DISCLOSURE Error Resolution If you think an EFT shown on your statement is incorrect, or if you need more information about an EFT, contact us at the telephone number listed under HOW TO CONTACT US at the end of this Agreement. Give us all the information requested under WHAT TO TELL US IN CASE OF ERROR OR INQUIRY. We must hear from you no later than SIXTY (60) days after we sent you the FIRST statement on which the error or problem appeared. 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 tell you the results of our investigation within ten business days (twenty business days if you have a new account) and correct any error promptly. If we need more time, however, we may take up to forty-five days (ninety days for POS transactions, transactions involving foreign countries, or new accounts) to investigate. If we decide to do this, we will provisionally credit your account within ten (10) business days (twenty (20) days on new accounts) for the amount you think is in error so you will have use of the money during our investigation. If your complaint or question involves unauthorized use of your VISA Debit Card and your account is not new, we will provisionally credit your account within five (5) business days. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we are not required to provisionally credit your account. If we decide there was no error, we will send you a written explanation within three (3) business days after we finish our investigation. You can ask for copies of the documents we used in our investigation. If we determine that there was an error, we will post any credit to which you are entitled to your account, or change a previously-posted provisional credit to a permanent credit. If we determine there was no error entitling you to a credit, we will reverse any provisional credit and pay any overdrafts without charging an overdraft fee for five (5) days after we sent you written notice that the credit has been reversed, but only to the extent the overdrafts are equal to or less than the provisional credit amount; overdrafts exceeding the provisional credit amount will be subject to our normal fees. You agree to immediately restore any negative account balance. Business Days For purposes of these disclosures our business days are Monday through Friday. Holidays observed on weekdays are not considered business days. Termination We can modify, restrict or terminate your use of EFT services at any time with or without notice consistent with applicable law. Among the reasons we can terminate services without notice are: You or any authorized user of your EFT services breach this or any other agreement with us; or, We have reason to believe there has been or may be unauthorized use of your EFT services; or, 32

ELECTRONIC FUNDS TRANSFER DISCLOSURE AND AGREEMENT We have actual notice of conflicting claims to funds in your accounts; or, Any authorized person asks us to terminate an EFT service; or, You repeatedly use EFT services for debits against insufficient funds; or, You permit use of EFT services for illegal transactions or fraudulent activity. Types of Preauthorized Payments (ACH Transfers) Preauthorized payments (ACH Transfers) are electronic third party credits and debits into and out of your accounts via the ACH system. The ACH system uses standard three-letter codes to describe some types of payments. The following explanations and codes are commonly used for consumer account transactions that may appear on your account statement: Direct Deposit: The electronic deposit of a net paycheck or other benefits payment such as social security. Preauthorized Payments: Payments initiated from your account to pay regular bills such as insurance premiums. Customer Initiated Entries (CIE): Payments you initiate using the Online Access s Bill Pay service. Payments initiated by merchants and creditors include: Point of Purchase Program (POP): Merchants may convert your checks to electronic payments at the point of purchase. They must notify you of the conversion, request your signature and return the check to you marked Void. Accounts Receivable Truncated Check (ARC): Payees to whom you write checks to pay bills, such as utilities and credit card companies, may convert the checks to ACH debit entries. The payee must notify you of the conversion. Represented Check (RCK): The payee may convert a NSF check you wrote to an electronic debit and re-present it for payment through the ACH system. The payee must notify you of the conversion. Back Office Conversion (BOC): Merchants or bill payment centers may accept your check and then convert it to an electronic payment in a back office environment. The merchant must notify you of the conversion, request your signature and return the check to you marked Void. Telephone Payment (TEL): A single or recurring ACH payment initiated by a payee after being authorized by you over the telephone. You must have an existing relationship with the payee or initiate the call to the payee. Online Payment (WEB): A single or recurring ACH payment initiated by a payee after being authorized by you via the Internet (not using Online Access or Bill Pay). ACH debits out of your savings account count toward the six-per-month limit on non-personal withdrawals. 33

MASTER ACCOUNT DISCLOSURE Overdraft protection from savings or an overdraft line of credit is available to cover ACH debits on checking accounts. Discretionary overdraft protection may, at our option, be available to cover ACH debits to checking accounts. If you do not have funds available from your agreed upon overdraft sources and we elect not to make discretionary overdraft protection available, your ACH debits will be declined and our standard NSF fee will apply. There are no fees for ACH credit or debit entries, unless the entry is returned unpaid for insufficient funds. Stop Payment on an ACH If you have authorized ACH debit entries, you can stop individual payments or revoke authorization for all future payments by notifying us in writing as stated in the HOW TO CONTACT US section. We can require you to put an oral stop payment request in writing and if you do not do so within 14 days, your stop payment request will lapse. There is a fee for stop payment requests; refer to the Schedule of Fees. Your request must reach us at least three (3) business days before the payment is scheduled to occur or we may not implement it. If you have authorized a merchant or other payee to initiate ACH debit entries to your Credit Union accounts and wish to cancel all future payments, you must also notify the payee in writing. If we fail to stop a payment following your timely request, we will be liable for your direct losses or damages, limited to the amount of the payment. Payments cannot be stopped on POP, ARC, RCK, TEL or WEB entries, but you can obtain refunds for improper ACH entries of these types. In addition, if a merchant or other payee has continued to initiate ACH debit entries after you have given them a written revocation of your authorization, the debit entry is considered improper. To obtain a refund, you must execute a written statement of unauthorized transaction and provide reasonable cooperation with our investigation. For example, if an RCK entry has been initiated on a check on which your signature was forged, notify us and we will give you the affidavit to complete. We cannot provide a refund without a written affidavit. If you receive an erroneous ACH credit (for example, your employer inadvertently makes a duplicate direct deposit of your net pay), you agree that we can reverse the erroneous credit without advance notice to you. We will, however, tell you when a correction has been made. If the correction results in a negative balance, you must immediately restore your account to a positive balance. If you do not do so, you agree that our Right of Offset applies. If we cannot recover what you owe by exercising our Right of Offset, you agree that our right to recover collection costs applies. If you authorize ACH debits in varying amounts (for example, utility bill payments), the payee is required by law to give you advance notice of your payment amount. Your periodic statements will reflect ACH debits and credits. To confirm whether an ACH transfer has occurred, you may use Online Access, PTA or call our Member Service Center. 34

What To Tell Us In Case Of Error Or Inquiry WHAT TO TELL US IN CASE OF ERROR OR INQUIRY Your name. Your account number. The date of the questioned transaction. Any transaction number associated with the transaction, such as a check number. The dollar amount of the suspected error. A description of the error or transaction you are not sure about. Your explanation, if you can provide one, of why you believe there is an error. If you need more information about a transaction, ask us for clarification. By Phone 559-437-7700 1-800-538-EECU (3328) toll free HOW TO CONTACT US Member Service Center Hours Monday Friday 7 a.m. 7 p.m. Saturday 9 a.m. 1 p.m. Evenings or Weekends For lost, stolen, or unauthorized use of an ATM or Visa Debit Card 1-800-538-3328 Write Us Educational Employees Credit Union P.O. Box 5242 Fresno, CA 93755-5242 35

MASTER ACCOUNT DISCLOSURE PRECAUTIONS AND SAFETY TIPS ATM Safety Exercise good judgment when using ATMs. We may arrange for the availability of ATMs at various locations with access during non-business hours for your convenience. ATM sites are not subject to our control. You assume the risk of using them. We do not warrant the safety or security of any ATM location. We are not responsible for wrongful acts committed by anyone who is not our authorized agent regarding your use of ATMs. Do not use ATMs alone at night or at sites that could, because of location or other circumstances, be susceptible to assault or robbery. Be prepared. Have your card and any other documents ready before approaching the ATM. When you have completed your transaction, put your money away quickly and leave the area. Cancel the transaction and put away your card if a suspicious situation develops. If you are followed after leaving an ATM, go to a heavily populated, well-lit area and call the police. Notify law enforcement immediately of any criminal activity you observe at ATMs. ATM, Visa Debit Card, and Visa Credit Card Tips To use most EFT services you need to key in a PIN. The only exceptions are use of debit cards for signature transactions and some ACH transactions. Keeping your PIN secret will help prevent unauthorized persons from taking money out of your Credit Union accounts. Treat your VISA Debit Card like cash. The card carries the VISA logo but is not a credit card. This card withdraws funds from your checking account with a PIN or signature and can be used at ATMs and merchants displaying the Visa logo. Memorize your PIN. Do not write it on your ATM or Debit Card or anywhere someone could find it and use it to access your account. Do not let anyone use your card, tell anyone your PIN or let anyone watch you key in your PIN. Shield the ATM keyboard so that others cannot see you enter your PIN. Our Member Service Representatives will never ask you for your ATM, Debit Card or Visa Credit Card number or your PIN. If such information is requested by a person saying they represent the Credit Union, do not provide the information. Be cautious about giving account information over the phone. Keep your transaction receipts and verify them against your statements. If you find an unexplained transaction, notify the Credit Union immediately. Report a lost or stolen card to the Credit Union as soon as you discover it is missing. Call the Credit Union immediately if you believe an unauthorized person may be able to use your PIN or card so we can block its use and issue a new access device. 36

Precautions And Safety Tips Phishing and Other Account Security Compromises In handling your service requests and inquiries, we may, in your exchange of telephone calls or emails with our staff, ask you to provide limited personal information so that we may confirm your identity for security purposes. For example, if you call us with a question, we will need your name and account number to assist you, and we may ask you to verify information to confirm your identity. However, we will never send you unsolicited email or telephone you asking for confidential personal information such as your social security number, account number or confidential PIN. We already have this information and will not need it when contacting you. If you receive a telephone call, email or other request that appears to be from us asking for this type of information, do not provide the information requested. We also ask that you notify our Member Service Center immediately so we can investigate the matter. Remember that by voluntarily providing account access information to third parties, you authorize them to conduct business on your accounts and may be liable for transactions they initiate. Password Safety Having a strong password and protecting it is important to securing your personal and financial information. Protect your PINs and passwords. Do not write them down or share the information with anyone. Create PINs and passwords that do not use readily identifiable information like names, birthdates and phone numbers. A strong password includes a combination of upper and lower case letters, numbers and characters or symbols. Change your PIN regularly, or immediately if you believe someone else has discovered your PIN. PC Safety and Security The Internet can be a convenient and fast way to access your financial services. There are some simple things you can do to ensure your online experience is safe and to avoid becoming victim of a scam. Use anti-virus and anti-spyware software, as well as a firewall, and update them all regularly. Keep your operating system and Web browser up-to-date and learn about their security features. Do not allow unauthorized users access to your PC. Always log out at the end of your browsing session. Do not open email attachments from unknown sources. Notify us of any suspicious email or telephone inquiries, such as those seeking account information or online passwords. Do not respond to postings or emails that ask you to send money so that you can make money or ask you to pay for a free gift. Common scams include those that say you have won the lottery, are inheriting money or can work as a secret shopper. Back up important files. 37

Member Service Center Hours Monday Friday Saturday Contact Numbers 7 a.m. 7 p.m. 9 a.m. 1 p.m. 559-437-7700 1-800-538-EECU (3328) toll free Branch Hours Monday Thursday 9 a.m. 5 p.m. Friday 10 a.m. 6 p.m. Mailing Address P.O. Box 5242 Fresno, CA 93755 myeecu.org Rev. 5/15 Federally insured by NCUA