ELECTRONIC FUND TRANSFERS DISCLOSURE

SCOPE OF AGREEMENT - This Agreement describes the terms and conditions that govern Electronic Fund Transfer transactions at Pittsford Federal Credit Union (the "Credit Union"). In this Agreement, the words "you," "your," and "yours," refer to the member who has access to the Electronic Fund Transfer Services. The words "we," "our," and "us" refer to the Credit Union.

TYPES OF ELECTRONIC FUNDS TRANSFER (EFT) AVAILABLE - The following summarizes the types of EFT services the Credit Union offers. You must sign up for each type of service separately. Therefore, some of the following may not apply to you at this time, but may apply to you at some time in the future.

A. Pre-Authorized Deposits - You can arrange to have amounts which are regularly paid to you deposited directly to your account. You may call us at (585) 624-7474 to find our whether or not a pre-authorized deposit has been made.

B. Pre-Authorized Transfer to Third Parties - You may authorize automatic transfers (withdrawals) from your account to pay third parties. The authorization must be in writing. A copy of the authorization must be provided to you by the party you authorized to receive transfers from you account. If your pre-authorized transfer varies in amount from the previous transfer, the third party must give you written notice of the amount and the scheduled date of the transfer at least ten days in advance.

C. Automated Teller Machine (ATM) Service and Point of Banking (POB) Facilities - You may make deposits or withdrawals to or from your accounts and may transfer funds between your accounts at designated ATM and POB facilities using your ATM Card, hereafter referred to as The Card. Certain facilities may not be available for receipt of deposits or certain other transactions. An ATM is located at each Credit Union office for your convenience. A fee may be imposed for each ATM withdrawal after six (6) in any calendar month. The charge will appear on your monthly account statement as "ATM WD FEE," please refer to the fee schedule. If you use an ATM or POB terminal that we do not own and operate, you may also be charged a fee by the owner of the ATM terminal. This fee, called a surcharge, will be disclosed to you by the ATM owning institution before you complete your transaction. You may cancel the transaction at that time. If you agree to complete the transaction, the amount of your transaction plus the ATM owner's fee will be deducted from your account.

D. Telephone Banking - With your PIN and a touch-tone telephone, you may make the following transactions at any time, twenty-four hours a day, using Telephone Banking: Balance inquires, cleared check inquiries and transfers, within a single account or between different account numbers. The maximum transfer amount per transaction is $20,000; for payments on your overdraft line of credit of Visa account at the Credit Union; check withdrawals; or advances from your overdraft line of credit.

E. Internet Banking - With access to the World Wide Web, your username and your password you may perform the following transactions at any time, twenty-four hours a day, using our Internet Banking product: Balance inquiries, account and loan history inquiries and transfers, within a single account or between different account numbers. The maximum transfer amount per transaction is $20,000; for payments on your overdraft line of credit or your Visa account: or check withdrawals from your credit union account made payable to you and mailed to you at your address of record.

F. Bill Paying Service - When available, you may pay bills using the Internet. A fee may be imposed for this service, please refer to the fee schedule for more information.

PERSONAL IDENTIFICATION NUMBER - In connection with your participation in the above programs, C-E, we have issued to you your own Personal Identification Number ("PIN"). Each time you wish to make and EFT, you must communicate your PIN. For Internet Banking, you must also communicate your Secondary Password. To ensure that no unauthorized transactions are made on your account, you should take all reasonable precautions to prevent any other person form learning your PIN or your Secondary Password, or using your PIN or Password. For example, you should never keep any material containing you PIN or your Secondary Password with or attached to your Card or any information about your account. Bill Paying Service, item F above, requires a separate PIN. Please refer to you Bill-Pay Disclosure.

LIMITATION OF FREQUENCY OF TRANSACTIONS

  • For security reasons, there are limits on the number of transactions you can make using ATMs and POB facilities.
  • We may put other limitations on transactions made at any ATM or POB facility covered by this Agreement.
  • Savings accounts are subject to additional limitations. You may make no more than a total of six withdrawals or transfers during each monthly statement cycle (i) to another of your accounts, including transaction accounts, at the Credit Union, by pre-authorized, automatic or telephone transfers, and (ii) to third parties by means of a pre-authorized or automatic transfer or telephone order (i.e. the Audio Response System) or through Internet banking. No more than three (3) of those six transfers may be made by check, share draft, account access card or similar order made by you and payable to third parties. Please note: Transfers completed in person at the Credit Union office, through an ATM or POB facility or by withdrawal check mailed directly to your are not counted toward the limit of six/three per month.
LIMITATIONS ON DOLLAR AMOUNTS OF TRANSACTIONS

  1. You may withdraw up to $1,000 with The Card each 24 hour period.
  2. The amount you may withdraw each time you use The Card is determined by the ATM sponsor, but will never exceed $1,000.
DOCUMENTATION OF TRANSACTIONS

Receipts - You will get a receipt at the time you make any transaction using an ATM or POB facility. When you perform a transaction using Internet banking, you will receive a confirmation computer screen with reference information which you may print for your records.

Periodic Statements - You will receive a monthly statement which will show all EFTs during the period covered by the statement.

LIABILITY FOR UNAUTHORIZED TRANSACTIONS - Tell us AT ONCE if you believe your Card, PIN or Secondary Password has been lost or stolen. Telephoning us is the best way of keeping your possible loss down. You could lose all the money in your account; however, if you tell us within (2) business days, you can lose no more than $50 if someone used your Card, PIN or Secondary Password without your permission.

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

        Also, If your statements shows transactions that you did not make, tell us AT ONCE. If you donít tell us within 60 days after the statement was mailed to you, you will not recover any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money had you told us in time.

        If a good reason (such as a long trip or a hospital stay) kept you form telling us, we will extend the time period.

ADDRESS AND TELEPHONE NUMBER - If you believe you Card, PIN or Secondary Password has been lost or stolen or that someone has transferred or may transfer money from your account without your permission or for any reason you wish to contact us about your account:
Call: (585) 624-7474
Fax: (585) 624-7939

Write: General Manger
Internet: www.PittsfordFCU.org

Pittsford Federal Credit Union
P.O. Box 726
Mendon, New York 14506

BUSINESS DAYS - Our business days are Monday through Friday. The Credit Union is closed for all Federally observed holidays.

FAILURE TO MAKE TRANSACTIONS - If we do not complete a transaction to or from your account on time or in the correct amount according to our Agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance: If,

  • through no fault of ours, you do not have enough money in you account to make the transfer.
  • the ATM where you are making the transfer does not have enough cash.
  • the ATM or the connection over the Internet was not working properly and you knew about the breakdown when you started the transaction.
  • the money in the account is subject to a Court Order or other encumbrance restricting its removal from the account or is the subject of dispute.
  • we believe in good faith that the transaction is being started without your authorization.
  • our failure to complete the transaction is justified by any provision of this Agreement or any other agreement between you and us concerning your account or by law or applicable regulation.
  • the right to use your Card has been canceled.
  • circumstances beyond our control (such s fire or flood) prevent the transaction, despite reasonable precautions that we have taken to prevent the occurrence.
There may be other exceptions not stated here.

DISCLOSURE OF ACCOUNT INFORMATION - When performing any transaction by phone or in person the credit union may require the use of a PIN number, mother's maiden name or other acceptable means of identification.

In the regular course of business, we will disclose information about your account or the transaction affecting your account:

  • Where it is necessary for completing transfers.
  • In order to verify the existence or condition of your account to a third party such as a credit bureau or merchant.
  • In order to comply with applicable laws, governmental regulations or legal process.
  • If you give us your written permission.
IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR TRANSACTIONS

Call or write us at the address or number on the front of this brochure s soon as you can if you think your statement or receipt is wrong or if you need more information about a transaction listed on your statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.

  • Tell us your name and account number.
  • Describe the error or the transaction you are unsure about and explain as clearly as you can why you believe it is in error or why you need more information.
  • Tell us the dollar amount of the suspected error.
If you tell us verbally, 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 (10) business days after we hear from you, and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or question. If we decide to do this, we will re-credit your account within ten (10) business days for the amount you think is in error so that you will have the use of the money during the time it takes to complete or investigation. If we ask you to put your complaint or questions in writing and we do not receive it within ten (10) business days, we may not re-credit your account during the investigation. If the alleged error pertains to a transaction initiated outside of the United States, District of Columbia or Puerto Rico, the ten (10) business day time periods become twenty (20) business days and the forty-five (45) calendar day period becomes ninety (90) calendar days.

If we determine that there was no error, we will send you a written explanation within three (3) business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation.

If we have provisionally re-credited your account during the investigation and determining that there was no error, we will notify you of the date on which we will debit your account and the amount to be debited. You should make certain that your account contains sufficient funds to cover this debit. If an overdraft occurs during this period, we have the right to collect the amount from you. If this happens, your right to participate in the specific program under which the debit was made will be suspended, and ou will not be considered for reinstatement until you pay for al such debits.

STOP PAYMENT OF PRE-AUTHORIZED TRANSFERS - If you have arranged with the Credit Union in advance to make regular periodic payments our of your account, you can stop any of those payments by following these procedures. Call or write the Credit Union at the telephone number or the address on the front of this brochure in time for the notice to be received by the Credit Union three (3) or more business days before the payment is scheduled to be made. If you call, the Credit Union may require you to put your request in writing so that it reaches the Credit Union within fourteen (14) days after you call. If your order us to stop one (1) of these payments three (3) business days or more before the transfer is scheduled, and we do not do so, we will be liable for losses and damages.

TERMINATION - We may cancel your privilege to make EFTs at any time for any reason. The cancellation will take effect immediately unless we determine otherwise. As soon as you learn of the cancellation, you must stop using the Card and return the Card to us at once. If you use you Card after we have canceled your right to use the Card, it may not be given back to you. You may terminate your right to make EFTs, but you must do so by writing to us at the address we have given you. Your participation will be terminated on the business day after we receive your written notification.

        You agree not to close your account unless you first notify us and stop using the EFT Services. You agree to pay us for nay cash or services which remain unpaid after termination. Termination of this Agreement is no way affects your responsibility for EFTs occurring before termination or made using your Card, PIN or Secondary Password after termination. You may not assign your rights under this Agreement and any attempted assignment will be void.

NOTICES AND CHANGES OR ADDRESS - Any notice we send to you will be sent by regular mail to your mailing address as currently shown in our records. You must promptly notify us in writing of a change in your address.

EVIDENCE - In any legal proceeding involving this Agreement or your Card, a copy of this Agreement kept by us in the regular course of business is to be admitted in evidence as an original of this Agreement.

CONFLICTS - If any part of this Agreement conflicts with any applicable law or regulation, the law or regulation will control. If any part of this Agreement is determined by a court to be invalid, the rest will remain in effect.

CARDS ISSUED TO MORE THAN ONE PERSON - If Cards relating to your account are issued to more than one person, all those persons will be individually and jointly liable under this Agreement. We can send or deliver any notice concerning this Agreement or any Cards to any one of them, and it will be binding on all of them.

ENTIRE AGREEMENT - This Agreement constitutes the complete agreement between you and us concerning EFT Services. By performing an EFT or authorizing someone else to do so with respect to your account, you agree to be bound by all provisions of this Agreement. Any legal question concerning this Agreement will be decided in accordance with New York State law and, to the extent applicable, Federal law.

AMENDMENTS - We may change the terms of this Disclosure Statement and Agreement at any time. You will receive written notice of the changes to the extent required by law.

RESPONSIBILITY - You are responsible for any transaction made by you or by anyone else you authorize to use your Card, your PIN and/or your Secondary Password.

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