ONLINE AND MOBILE BANKING AGREEMENT AND DISCLOSURE

 

 

I.    Introduction

This Online and Mobile Banking Agreement and Disclosure ("Agreement") contains the terms that govern your use of the Federated Employees Credit Union (FECU) online banking and mobile banking application services (collectively, the "Services," individually, a "Service"). You may use these Services to access your accounts online or on a mobile device. By enrolling and using the Services to access an account you are agreeing to the most recent terms of this Agreement (also available online at http://www.fedecu.com) which supplements the Membership and Account Agreement and other membership agreements and disclosures (collectively, "Membership Agreements") provided at the time of Account opening. You should review the Membership Agreements carefully, as they may include transaction limitations and fees which might apply to your use of the Services.

 

We may offer additional Services and features in the future. Any such added Services and features will be governed by this Agreement and by any terms and conditions provided to you at the time the new Service or feature is added and/or at the time of enrollment for the feature or Service, if applicable.   From time to time, we may amend the terms of this Agreement, applicable fees, service charges, and modify or cancel the Services from time to time without notice, except as may be required by Law. Such amendments shall be effective when they are communicated in any way, including posted on the internet or mailed to you. Further, the Credit Union may, from time to time, revise or update the Credit Union program, services, and/or related material(s) rendering such prior versions obsolete. Consequently, the Credit Union reserves the right to terminate this Agreement as to all such prior versions of the Credit Union programs, Services, and/or related material(s) and limit access to the Credit Union’s more recent versions and updates. YOUR CONTINUED USE OF THE SERVICES MEANS THAT YOU AGREE TO THE CHANGES. IF YOU DO NOT AGREE TO THE CHANGES, YOU MUST NOTIFY US OF YOUR DISAGREEMENT, AND WE WILL TERMINATE YOUR ACCESS TO ALL SERVICES.

 

II.    Definitions

As used in this Agreement, the following words have the meanings given below:

 

"Account(s)" means your eligible Federated Employees Credit Union checking, savings, loan, certificate of deposit or safe deposit box information and other Federated Employees Credit Union products that can be accessed through the Services.

 

"Device" means a computer and related equipment with a web browser (contact the Credit Union for a list of supported browsers), and/or a supportable mobile device including a cellular phone or other mobile device that is web- enabled and allows secure SSL traffic which is also capable of receiving text messages.   Your wireless carrier may assess you fees for data or text messaging services. Please consult your wireless plan or provider for details.

 

"Mobile Banking" means the banking services accessible from the Device you have registered with us for Mobile Banking.

 

"Online Banking" means the banking services accessible on a computer Device through a traditional internet connection at www.fedecu.com.

 

"Services" means the Online Banking and Mobile Banking services.

 

"Service Providers" means the Credit Union, its affiliates, any processor, or other third party that we have engaged to provide remittance capabilities, equipment, or other services in connection with any of the Services. This includes any agent, independent contractor, or subcontractor of any of the foregoing. You agree that we have the right under this Agreement to delegate to Service Providers all of the rights and performance obligations that we have under this Agreement, and that the Service Providers will be third party beneficiaries of this Agreement and will be entitled to all the rights and protections that this Agreement provides to us.

 

"You" and "Your(s)," mean each person with authorized access to your Account(s) who applies and uses the


Service.

 

"We," "Us," and "Credit Union" means Federated Employees Credit Union.

 

III.    The Services

To use the Services, you must have at least one Credit Union personal account and an Online Banking personal identification number ("PIN").   Through the Services, you will have access to any of your Credit Union share accounts or loan accounts. The Credit Union reserves the right to deny access to a deposit account or loan account or to deny transactions under certain circumstances.

 

A.     Description of Online Banking Service. Online Banking Services allows you to perform online account access functions. You may use Online Banking to:

 

1.       Transfer funds between your accounts

2.       Obtain account balances

3.       Request a check withdrawal from your share account, which will be mailed to the current address on file

4.       Obtain history and transaction information on your accounts

5.       Obtain loan account balance information.

6.       Access FECU’s Bill Pay Service

7.       Set up and Review Text Alerts

8.       Conduct any other transactions permitted by the Credit Union

 

These features are limited to the extent, and subject to the terms, noted below.

 

1.       Your ability to transfer funds between certain accounts is limited by federal law and the Membership Agreements. You should refer to the Membership Agreements for legal restrictions and service charges applicable for excessive withdrawals or transfers. Transfers made using the Online Banking Service are counted against the permissible number of transfers described in the Membership Agreements.

2.       There may be at least a one-business-day delay in transferring funds between your accounts. Except as provided in this Agreement, all scheduled Online Banking transaction instructions received by 7:00 a.m. CST will be completed that business day. Any instruction received after 7:00 a.m. CST will be completed the next business day.

3.       Transactional information for your accounts will be available from Online Banking for a maximum of 90 days from the date of inquiry.

4.       We reserve the right to limit the types and number of accounts eligible and the right to refuse to make any transaction you request through the Services. We may also reserve the right to modify the scope of the Services at any time.

 

B.      Description of Mobile Banking Service.   You may access Online Banking Services on a mobile device by using our mobile banking application. Mobile Banking allows you to access your Credit Union account information and to conduct other Online Banking transactions. We reserve the right to modify the scope of Online Banking Services available on our mobile application at any time and you acknowledge and agree that some or all of the Online Banking Services may not be available or accessible or may have limited utility. Mobile Banking is offered as a convenience and supplemental service to our Online Banking services. It is not intended to replace access to Online Banking from your personal computer or other methods you use for managing your accounts and services with us. To utilize the Mobile Banking Service, you must be enrolled to use Online Banking and then activate your Device within the Online Banking system.

 

Mobile Banking may not be accessible or may have limited utility over some network carriers. In addition, Mobile Banking may not be supportable for all Devices. The Credit Union cannot guarantee and is not responsible for the availability of data services provided by your mobile carrier, such as data outages or "out of range" issues.

 

C.      License. Subject to your compliance with this Agreement, you are hereby granted a personal limited license ("License") to download, install and use the mobile banking application software ("Software") on your Device within the United States and its territories. This License shall be deemed revoked immediately upon:

1.       The termination of your enrollment in Mobile Banking in accordance with this Agreement;

2.       Your deletion of the Software from your Device;

3.       Your noncompliance with this Agreement; or

4.       Written notice to you by the Credit Union at any time, with or without cause.

 

In the event this License is revoked for any of the foregoing reasons, you agree to promptly delete the Software from your Device if you have not already done so.

 

You agree that, when you use Mobile Banking, you remain subject to the terms and conditions of your existing agreements with any unaffiliated service providers, including, but not limited to, your mobile service provider and that this Agreement does not amend or supersede any of those agreements. You understand that those agreements may provide for fees, limitations and restrictions which might impact your use of Mobile Banking (such as data usage or text messaging charges imposed on you by your mobile service provider for your use of or interaction with Mobile Banking), and you agree to be solely responsible for all such fees, limitations and restrictions. You agree that only your mobile service provider is responsible for its products and services, the operation, security, functionality or availability of any mobile device or mobile network which you utilize to access the Software and Mobile Banking. Accordingly, you agree to resolve any problems with your provider directly without involving us.

 

IV.    Other Agreements

Any deposit account, loan or other banking product accessed through these Services is also subject to the Membership Agreements provided at the time of Account opening. You should review the Membership Agreements carefully, as they may include transaction limitations and fees which might apply to your use of the Services. This Agreement is in addition to your Membership Agreements and other account agreements and disclosures. For example, when you access your deposit account online, the terms and conditions of your deposit account agreement do not change and continue to apply. If, however, there is a conflict between this Agreement and the terms and conditions of any disclosures or agreements that specifically address the Services, this Agreement will control in resolving those inconsistencies, except in the cases of a conflict with the Membership and Account Agreement and the Agreement and Disclosure for Online Bill Pay Service, both of which shall govern in the event of a conflict with this Agreement.

 

V.    Devices, Equipment and Software

The Credit Union does not guarantee that your Device or mobile phone service provider will be compatible with the Services.

 

You are responsible for the installation, maintenance, and operation of your Device, browser and the software. The Credit Union is not responsible for any errors or failures from any malfunction of your Device, the browser or the software. Mobile phones, computers, and other Devices with internet capabilities are susceptible to viruses. You are responsible to ensure that your Device is protected from and free of viruses, worms, Trojan horses, or other similar harmful components or related problems (collectively referred to as "viruses") which could result in damage to programs, files, and/or your phone or Device or could result in information being intercepted by a third party.   The Credit Union will not be responsible or liable for any indirect, incidental, special or consequential damages which may result from such viruses. The Credit Union will also not be responsible if any non-public personal information is accessed via the Services due to any of the above-named viruses residing or being contracted by your Device or computer at any time or from any source.

 

The Credit Union is not responsible for errors, interruptions or delays in the Services or your inability to access the Services caused by your Device or computer.   We are not responsible for the cost of upgrading the Device or computer to remain current with the Services. We are not responsible for any damage to the Device or computer or the data within.

 

VI.    User Contact Policy

By providing us with any cellular number used for a Device or any other wireless device now or in the future, including a number that you later convert to a cell phone number, you are expressly consenting to receiving communications, including but not limited to prerecorded or artificial voice message calls, text messages, and calls made by an automatic telephone dialing system from us and our affiliates and agents regardless of the purpose of the communication (i.e.,


account alerts and notifications). Calls, data, and messages may incur access fees from your mobile provider, and you are responsible for any such charges.

 

In the event your Device is lost or stolen, you agree to update your information and make the appropriate changes to disable the use of such Device. You understand that there are risks associated with using a Device, and that in the event of theft or loss, your confidential information could be compromised. If you have questions or would like to stop receiving text messages on your Device, you may contact the Credit Union at the contact information at the end of this Agreement.

 

You have the ability to update your contact information and manage your communication preferences at any time by updating such information through your Online Banking account. You agree to promptly notify the Credit Union, in writing, of any address or contact information change.

 

VII.    Privacy Policy

Protecting your privacy is important to us. The Credit Union's Online Privacy Policy is available online on the Credit Union’s website or by contacting the Credit Union at the contact information at the end of this Agreement. The Credit Union is committed to abiding by all laws regarding privacy and consumers' privacy interests. Changes to the Online Privacy Policy may be made at any time.

 

You understand and agree that we may monitor and/or record any communications between you and us for quality control and other permitted business purposes. You also understand and agree that this monitoring or recording may be done without any further notice to you or anyone acting on your behalf. When you access the Services to conduct transactions, the information you enter may be recorded. By using the Services, you consent to such recording.

 

VIII.    Fees and Charges

There may be additional fees and charges for select Services – these fees are described within the user interface (online or within the mobile application), on our website, or in your other agreements or disclosures. Fees and charges may be changed in our sole discretion.   You agree to pay all such fees and charges associated with the Services and authorize us to deduct the calculated amount from your account(s). Your accounts and loan accounts are still subject to the fees, charges, balance requirements, etc. articulated in the Membership and Account Agreement and your Loan Agreement. Existing fees and charges associated with your account(s) will continue to apply. You will not be charged for the "view accounts," or "transfer funds" features of the Credit Union’s Online Banking.

 

IX.    Permitted Transfers

You may use the Services to transfer funds between your eligible Credit Union accounts ("Internal Transfer"). You may not transfer to or from an Account at another financial institution using the Services.

 

If you submit your transfer request prior to the deadline established by us for transfer service, you will initiate an immediate Internal Transfer via Mobile Banking or Online Banking. Transfer transaction requests received after

4:30 p.m. CST on business days and all transactions which are requested on Saturdays, Sundays, or holidays on which the Credit Union chooses to remain closed, will be processed on the Credit Union's next business day.

 

You authorize us to withdraw, debit, or charge the funds from your designated account in order to complete all of your requested transfers and payments. When you use the Services to make transfers from credit accounts, you agree that we may take any action required to obtain cash advances on your behalf, including charging your linked credit account without your signature. Each transfer made from a credit account is treated as a cash advance from that account and is subject to the terms of your applicable credit agreement. When using the Services to conduct transactions, you agree that the Credit Union may debit your account to complete the transactions, or honor debits you have not signed. We may rely and act on all instructions received via our web sites using your personal ID and password, and all transactions performed, even if not intended by you, are considered transactions authorized by you.   You agree that any transaction that would otherwise require two or more signatures will not apply to the Services.

 

You must have sufficient funds available in the selected account at the time the transfer request is received, including any available overdraft protection. We may process transfers that exceed your available balance at our sole


discretion. If there are insufficient funds in the designated account to make payments you have authorized, we may either refuse to make the payment or we may make the payment and thereby overdraw the designated account. In any event, if we process the transfer and unless your overdraft protection is provided via an Overdraft Line of Credit, you agree to cover any overdraft amount plus any applicable fees. You agree to pay all such fees and charges associated with the Services and authorize us to deduct the calculated amount from your account(s). We reserve the right to refuse to honor payment instructions that reasonably appear to be fraudulent or erroneous.

 

Federal regulations require financial institutions to limit the way withdrawals may be made from a savings or money market account. Each transfer from a savings or money market account using the Services is counted as one of the six limited transactions permitted each monthly statement cycle period, as described in the Membership and Account Agreement. You may be subject to fees or account conversion if you exceed the transactions limits of your Account using the Services or any other methods outlined in your Membership and Account Agreement.

 

The Credit Union reserves the right to limit the type, frequency and amount of transfers on or refuse to make any payment you have directed and may change or impose the limits without notice, at our option. The Credit Union is obligated to notify you promptly if it decides to refuse to complete your payment instruction. This notification is not required if you attempt to make payments which are prohibited under this Agreement.

 

You agree to confirm the completion of each transfer in your account balance and transaction history before withdrawing transferred funds.

 

X.    Account Ownership/Accurate Information

You represent and agree that you are the legal owner of the Accounts and other financial information which may be accessed via the Services. You represent and agree that all information you provide to us in connection with the Services is accurate, current and complete, and that you have the right to provide such information to us for the purpose of using the Services. You agree not to misrepresent your identity or your account information. You agree to keep your account information up to date and accurate. You represent that you are an authorized user of the Device you will use to access the Services.

 

XI.    Security

As a Credit Union customer engaging in the Services, you have chosen a personal ID and password which allows you access to the Services. Information you provide in connection with the Services will be stored on secure Credit Union servers and protected by advanced encryption techniques. These commercially reasonable security measures are intended to keep your important information secure and to prevent unauthorized access. Effective security; however, is partly contingent upon your responsible behavior in protecting your account information, personal ID, PIN and password for the Services. Please use maximum caution in protecting such information.

 

A.     Protecting Your Information and Device. You agree to take every precaution to ensure the safety, security and integrity of your account and transactions when using the Services. You agree not to leave your Device unattended while logged into Mobile Banking or Online Banking and to log off immediately at the completion of each access by you. You agree not to provide your username, password or other access information to any unauthorized person. If you permit other persons to use your Device, login information, or other means to access the Services, you are responsible for any transactions they authorize and we will not be liable for any damages resulting to you.   You agree not to use any personally identifiable information when creating shortcuts to your Account.

 

The Credit Union does not maintain a record of your PIN. You must notify the Credit Union IMMEDIATELY if:

 

1.       You believe your account information, personal ID, PIN or password has been lost or stolen;

2.       Someone has attempted to use the Services without your consent;

3.       Your deposit account(s) or loan account(s) have been accessed;

4.       Someone has transferred money without your permission; or

5.       You would like to change, disable, or revoke your password.


B.      Your Liability for Unauthorized Transfer or Transactions. As directed above, tell us AT ONCE if you believe your account information and/or PIN have been lost or stolen or believe an unauthorized transaction has been made from your Account(s). Telephoning is the best way of keeping your possible losses down. You could lose all the money in your accounts (plus your maximum overdraft line of credit and open-end credit). If you believe your account information and/or PIN has been lost or stolen, and you tell us within 2 business days after you learn of the loss or theft, you can lose no more than $50.00 if someone used your account information and/or PIN without your permission. If you do NOT tell us within two business days after you learn of the loss or theft of your account information and/or PIN, and we can prove we could have stopped someone from using your account/and or PIN without your permission if you had told us, you could lose as much as $500.00. Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days, if we can prove that we could have stopped someone from taking the money if you had told us in time.

 

C.      Disclosure of Account Information to Third Parties. We will disclose information to third parties about your account or transfers you made:

 

1.       When it is necessary to complete the transfers;

2.       In order to verify the existence and conditions of your account for a third party, such as a credit bureau or merchant;

3.       In order to comply with a government agency or court orders; or

4.       If you give us written permission.

 

D.     Errors and Questions. Contact us as soon as you can if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement.   We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared. Your inquiry must include:

 

1.       Your name and account number;

2.       A description of the error or the transfer you are unsure about and an explanation of why you believe it is an error or why you need more information;

3.       The dollar amount of the suspected error; and

4.       The date of occurrence.

 

If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days. We will generally tell you the results of our investigation within 10 business days of the receipt of your complaint or question (20 business days if the transaction involved an account opened within the past 30 days). If we need more time, however, we may take up to 45 days. If we decide there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation.

 

XII.     User Conduct

 

A.     Generally. You agree to accept responsibility for learning how to use the Services and agree that you will contact us directly if you have any problems with the Services.   We may modify the Services from time to time at our sole discretion. In the event of any modifications, you are responsible for making sure you understand how to use the Services as modified. You also accept responsibility for making sure that you know how to properly use your Devices and we will not be liable to you for any losses caused by your failure to properly use the Services or your Devices.

 

B.      Prohibitions on Use. You agree not to use the Services or the content or information delivered through the Services in any way that would:

1.       Infringe any third-party copyright, patent, trademark, trade secret or other proprietary rights or rights of privacy, including any rights in the Software;

2.       Be fraudulent or involve the sale of counterfeit or stolen items, including, but not limited to, use of the Services to impersonate another person or entity;


3.       Violate any law, statute, ordinance or regulation (including, but not limited to, those governing export control, consumer protection, unfair competition, anti-discrimination or false advertising);

4.       Be false, misleading or inaccurate;

5.       Create liability for us or our affiliates or Service Providers, or cause us to lose (in whole or in part) the services of any of our Service Providers;

6.       Be defamatory, trade libelous, unlawfully threatening or unlawfully harassing;

7.       Potentially be perceived as illegal, offensive or objectionable;

8.       Interfere with or disrupt computer networks connected to the Services;

9.       Interfere with or disrupt the use of the Services by any other user; or

10.   Use the Services in such a manner as to gain unauthorized entry or access to the computer systems of others.

 

C.      No Commercial Use or Re-Sale. You agree that the Services are only for the personal or business use of individuals authorized to access your account information. You agree not to make any commercial use of the Services or resell, lease, rent or distribute access to the Services.

 

D.     Data Synchronization. We make every effort to ensure that your use of any of the Services is synchronized between the various access methods. There are some rare instances, however, where the information available through the Services may be delayed or different from the information that is available within the various Services access methods or at a branch location (and vice versa). Additionally, some information available at a branch location may not be immediately available via the Services, or it may be described using different terminology. In the event of any discrepancies, the account information provided at a branch location controls. You agree that neither we nor our Service Providers will be liable for any errors, interruptions or delays in the content provided through the Services, or for any actions taken in reliance thereon.

 

E.      Accessing the Services From Outside the United States. We make no representation that any content or use of the Services is available for use in locations outside of the United States. If you choose to access the Services from locations outside the United States, you do so at your own risk and you are responsible for compliance with local laws.

 

XIII.    No Warranties

Neither the Credit Union nor any of its subsidiaries, affiliates, or Service Providers represents or warrants the accuracy, adequacy, completeness or timeliness of the Services, including but not limited to the information, materials, products and services on our web sites or applications the error free use of our web sites or applications. All the Services, our web sites and all information, materials, products and services provided through our web sites, are provided "As Is" and "As Available" without warranty of any kind, either express or implied, including, without limitation, the warranties of merchantability, fitness for a particular purpose, non-infringement and freedom from a computer virus.

 

In the event of a system failure or interruption, your data may be lost or destroyed. Any transactions that you initiated or were in the process of completing or completed before a system failure or interruption should be verified by you through means other than the Services to ensure the accuracy and completeness of those transactions. You assume the risk of loss of your data during any system failure or interruption and the responsibility to verify the accuracy and completeness of any transactions so affected.

 

XIV.     Limit of Liability; Indemnification

In no event will the Credit Union or any of its affiliates, contractors, or their respective officers, directors, employees, consultants, agents, other Service Providers or licensors be liable under any contract, tort, negligence, strict liability or other claim for any direct, indirect, incidental, special, consequential or exemplary damages, including, without limitation, damages for loss of profits, goodwill, use, data or other intangible losses (even if advised of the possibility of such damages) whether caused by or resulting from (i) the use or the inability to use any Services; (ii) any failure of performance, error, omission, interruption, delay in operation or transmission, computer virus, loss of data, theft, destruction, or unauthorized access to your information; (iii) errors, inaccuracies, omissions, or other defects in information or content provided by, contained within, or obtained through any Services, or (iv) any other failure, action, or omission, and regardless of whether arising under breach of contract, tortious behavior, negligence or under any other


theory or cause of action.

 

Unless caused by our intentional misconduct or gross negligence, you agree to indemnify, defend and hold harmless the Credit Union, its affiliates, officers, directors, employees, consultants, agents, contractors, Service Providers, and licensors from any and all third party claims, liability, damages, expenses and costs (including, but not limited to, reasonable attorneys' fees) caused by or arising from (a) a third party claim, dispute, action, or allegation of infringement, misuse, or misappropriation based on information, data, files, or otherwise in connection with the Services; (b) your violation of any law or rights of a third party; (c) any fraud, manipulation or other breach of this Agreement by you; (d) any third party claim, action or allegations brought against the Credit Union arising out of or relating to a dispute with you over the terms and conditions of an agreement or related to the purchase of sale of any goods or services; or (e) your use, or use by a third party, of the Services. The Credit Union reserves the right, at its own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which event you will cooperate with the Credit Union in asserting any available defenses. You will not settle any action or claims on the Credit Union’s behalf without the prior written consent of the Credit Union.

 

XV.    Third Party Content, Services, and Links

Our websites and Services may contain links to other web sites, merchandise and services provided, owned or operated by third parties. We provide these links as a service to you.   The linked sites are not under the control of the Credit Union or its affiliates or subsidiaries, and we are not responsible for their availability or their content, products, services advertising or other materials available on the third-party sites. The links do not imply our endorsement or approval of material on any other site. Any third-party sites may have a privacy policy different from that of the Credit Union and may provide less security than our web sites. We strongly encourage you to read the third party's privacy policy before sharing any information with that third party.

 

All matters concerning other web sites, merchandise and services provided or operated by third parties are solely between you and the third party. We make no warranties or representations whatsoever with regard to any third party's websites, merchandise, or services. THE CREDIT UNION IS NOT RESPONSIBLE OR LIABLE TO YOU FOR ANY DAMAGES, LOSSES OR INJURIES OF ANY KIND ARISING OUT OF YOUR USE OF ANY THIRD PARTY'S WEB SITES AND THE MERCHANDISE AND SERVICES AVAILABLE ON THEM, OR ANY REFERENCE TO OR RELIANCE ON INFORMATION CONTAINED THEREIN. YOUR RIGHTS AND OBLIGATIONS WILL BE GOVERNED BY THE THIRD PARTIES AGREEMENTS AND POLICIES RELATING TO THE USE OF THEIR SERVICES.

 

XVI.    Intellectual Property

All content connected with the Services (i.e., our websites and Mobile Banking) are the exclusive property of the Credit Union, its licensors, and/or Service Providers and it is protected by copyrights and other intellectual property rights. You are permitted to use content delivered to you through the Services only for your personal use. You may not copy, reproduce, distribute, or create derivative works from this content. Further, you agree not to reverse engineer or reverse compile any technology, including, but not limited to, any software or other content associated with the Services.

 

The trademarks, logos, and service marks displayed in connection with the Services are the registered and unregistered trademarks of the Credit Union and/or its Service Providers. Under no circumstances may you use, copy, imitate, alter, modify or change these trademarks. Nothing contained on, in or otherwise connected with any of the Services should be construed as granting (by implication or otherwise) any license or right to use any trademark without the express written permission of the Credit Union or the third party, which has rights to such trademark, as appropriate.

 

All messages, suggestions, ideas, notes, concepts, know-how, techniques, data, applications, mail, and other information you may send to us through or regarding any of the Services (including but not limited to the Credit Union web sites) shall be considered an uncompensated contribution of intellectual property to us and shall become our exclusive intellectual property. By submitting any such materials to us, you automatically grant (or warrant that the owner of such materials has expressly granted) to us a perpetual, royalty-free, irrevocable, non-exclusive right and license to use, reproduce, modify, adapt, publish, translate, publicly perform and display, create derivative works from and distribute such materials or incorporate such materials into any form, medium, or technology now known or later developed, and you warrant that all so-called "moral rights" in those materials have been waived, and you warrant that you have the right


to make these warranties and transfers of rights.

 

XVII.    Term and Termination

We may terminate all or part of this Agreement and your use of any or all Services for any reason and at any time with or without prior notice as the law requires. You agree that you will immediately stop using Services upon our request. You may cancel your usage of the Services and terminate this Agreement by notifying the Credit Union at the contact information at the end of this Agreement. We may terminate the Services if you have not accessed or used the Services for a period of one year. However, any transactions or payments you have previously authorized will be completed as instructed. Neither termination nor discontinuation shall affect your liability or obligations under this Agreement, which shall survive termination or discontinuation of this Agreement.

 

XVIII.    Tools and Calculators.

The Services may contain financial tools and calculators. We provide these tools and calculators as a service to you, for educational purposes only. We do not guarantee the accuracy of the tools or calculators or the results. We are not responsible for, and expressly disclaim all liability for, damages of any kind arising out of the use of the tools and calculators.

 

XIX.    E-Statements

By enrolling in Online Banking, you are opting in to receive statements electronically, as well as receiving all regulatory and account disclosure information electronically. You can view, print or download E-Statements from Online Banking, or you may request a printed copy to be mailed to you at the address on file or picked up in branch. FECU may assess a fee for statement printouts.  See the current Fee Schedule.

 

If you would like to opt out of E-Statements and receive printed/mailed account statements, you can request so by phone at 507-455-5430, in person at any FECU location or in writing to Federated Employees Credit Union, 1929 S. Cedar Ave, Owatonna, MN  55060. You may also opt out of E-Statements within online banking.

 

XX.       Miscellaneous

 

A.     Waiver. We may waive any term or provision of this Agreement at any time or from time to time.   We will not be deemed to have waived any of our rights or remedies with regard to this Agreement, unless our waiver is in writing and signed by an authorized officer of the Credit Union or its affiliates. No delay or omission on the part of the Credit Union or its affiliates, or their respective successors and assigns, in exercising any rights or remedies will operate as a waiver of those rights or remedies or any other rights or remedies. A waiver on one occasion will not be construed as a bar or waiver of any rights or remedies on future occasions.

 

B.      Assignment. You may not assign this Agreement to any other party. We may assign this Agreement or delegate or transfer any or all of our rights and responsibilities under the Agreement to any Service Provider. The Credit Union may assign this Agreement to any present or future, directly or indirectly, affiliated company. The Credit Union may also assign or delegate certain of its rights and responsibilities under this Agreement to independent contractors or other third parties.

 

C.      Governing Law; Jurisdiction. This Agreement is governed by all applicable Federal laws of the United States of America and the laws of the State of Minnesota (without regard to any choice of law provisions thereof).

 

D.     Survivability. All applicable provisions of this Agreement shall survive termination by either you or us, including, without limitation, provisions related to intellectual property, warranty disclaimers, limitations of liability, and indemnification.

 

E.      Disputes. In the event of a dispute regarding the Services, you and the Credit Union agree to resolve the dispute by looking to this Agreement. You agree that this Agreement is the complete and exclusive statement of the agreement between you and the Credit Union relating to the subject matter of this Agreement, which merges and supersedes any proposal or prior agreement, oral or written, and any other communications between you and the Credit Union relating to the subject matter of this Agreement.   If there is a conflict between what one of the Credit Union’s employees says and the terms of this Agreement, the terms of this Agreement have final control. If there is a conflict between this Agreement and the terms and conditions of any disclosures or agreements that specifically address the Services, this Agreement will control in resolving those inconsistencies, except in the cases of a conflict with the Membership and Account Agreement and the Agreement and Disclosure for Online Bill Pay Service, both of which shall govern in the event of a conflict with this Agreement.

 

F.       Captions; Severability. The captions of sections hereof are for convenience only and shall not control or affect the meaning or construction of any of the provisions of this Agreement. If any provision of this Agreement is held to be void or unenforceable in any jurisdiction, such ineffectiveness or unenforceability shall not affect the validity or enforceability of such provision in any other jurisdiction or any other provision in that or any other

jurisdiction.

 

G.     Federal Disclosure. You agree to accept this Agreement and Disclosure online rather than a paper disclosure. We recommend you print the entire Agreement and Disclosure for your records. If you are unable to print this, please request a paper Agreement and Disclosure to be mailed to you.

 

H.     Contact. You may contact us at the following information below. Keep in mind that we may not immediately receive electronic messages that you send and we will not take action based on your electronic messages until we actually receive it and have a reasonable time to act.

 

I.        Fees.  Use of Online Banking and Mobile Banking are free, however, standard account fees do apply (i.e. overdraft fees).  For all fees, see the FECU Fee Disclosure.

 

J.        Mobile Phone.  If we need to contact you to service your account or collect any amounts you owe, you authorize us (and our affiliated, agents, or contractors) to contact you at any number you provide, from which you call us, or at which we believe we can reach you.  We may contact you in any way, such as calling, texting or email.  We may contact you by using an automated dialer or prerecorded message.  We may contact you on a mobile, wireless, or similar device, even if you are charged for it.

 

  Federated Employees Credit Union Federated Insurance Building

  1929 S. Cedar Ave

  Owatonna, MN 55060

  Phone number: 507-455-5430

  E-mail: fedecu@fedins.com

  Website: www.fedecu.com

 

  If you need immediate assistance, or you would like to report an unauthorized transaction,   

  please call us at 507- 455-5430.

FEDERATED EMPLOYEES CREDIT UNION AGREEMENT
AND DISCLOSURE FOR ONLINE BILLPAY SERVICE

These terms and conditions shall govern the payment of bills on your behalf and at your direction by electronic notice to Federated Employees Credit Union (FECU) through our Online BillPay Service provided by Mastercard’s CUI mpowered. The Online BillPay Service enables you to set up recurring payments, make one-time payments, and track your payments to third parties. By using the online BillPay Service, you acknowledge electronic receipt of these terms and conditions and agree that you have read and will abide by them.

COSTS. Online BillPay Service has no monthly fees. For a complete listing of all applicable fees, please refer to our Rate and Fee Schedule. You are responsible for any Internet service fees that may be assessed by your telephone and/or Internet service provider.

ACCESS. To access the Online BillPay Service, you must log on to our website home page and log on to Online Banking. Once you have accessed Online Banking you can click on the BillPay tab.

DEFINITIONS. As used in this Agreement, the term "Payee" means the merchant, person, or entity to whom you wish a bill payment to be directed; "Payment Instructions" means the information provided by you for a bill payment to be made to your "Payee"; "Checking Account" means your FECU checking account selected to make payment; "Business Day" means Monday through Friday; "Process Date" means the Business Day of your choice upon which your bill payment will be made. "Pay From Account" means your checking account and, in the instance of non-sufficient funds and/or an overdrawn account, any applicable share account or available balance on line of credit overdraft accounts.

PAYMENT AUTHORIZATION. When you transmit bill payment instructions to us, you authorize us to debit your account and remit funds on your behalf so that the funds arrive as close to the business day designated by you as reasonably possible. Payments should be scheduled for disbursement at least seven (7) business days before the actual due date stated on your invoice to help ensure that they are received on time. Cutoff time is 4:00 p.m. Central Standard Time on any business day and is the time by which you must transmit payment instructions to have them considered entered on that particular business day. Payment instructions entered after the cutoff time or on non-business days will be considered entered on the next business day. If you properly follow the procedures described and FECU fails to send a payment according to your instructions, FECU will bear responsibility for late charges ($50.00 maximum) subject to the five (5) exceptions stated below. In any other event, including but not limited to, choosing a payment date less than seven (7) business days before the bill's actual due date, the risk of incurring and the responsibility for paying any and all late charges or penalties shall be borne by you.

LIABILITY FOR IMPROPER PAYMENTS. FECU will use its commercially reasonable efforts to make all your payments properly. However, FECU shall incur no liability if it is unable to complete any payments initiated by you through FECU because of the existence of any one or more of the following circumstances: 1. Your account does not contain sufficient funds (including overdraft protection) to complete the payment. Payments are based on available funds per our funds availability policy. 2. You know or have been advised by FECU, not to use the payment system due to a temporary technical malfunction. 3. The Payee mishandles or delays a payment sent by FECU. 4. You have not provided FECU with the correct names or account information for the Payee. 5. Circumstances beyond FECU's control (such as, but not limited to, fire, flood, or interference from an outside force) prevent the proper execution of the transaction and FECU has taken reasonable precautions to avoid those circumstances. If FECU causes an amount of funds to be removed from your FECU account that is in conflict with your payment instructions, or causes funds from your FECU account to be directed to a person or entity which does not comply with your payment instructions and none of the above five (5) exceptions apply, FECU shall be responsible for returning the improperly transferred funds to your FECU account to the extent you did not receive the benefit of the transfer.

PROHIBITED PAYMENTS. The following payments are prohibited through this service:
1. Tax payments and other governmental fees;
2. Court ordered payments;
3. Payments to Payees outside of the United States;
4. Single payments in excess of Nine Thousand Nine Hundred Ninety Nine and 99/100 Dollars ($9,999.99).

PAYEE LIMITATION. FECU reserves the right to refuse to pay any Payee to whom you may direct a payment. FECU is obligated to notify you promptly if it decides to refuse to pay a person or entity designated by you. This notification is not required if you attempt to make a prohibited payment as defined above.

EDIT/CANCEL OR STOP PAYMENT. You may cancel or edit a payment instruction under certain circumstances. If you discover an error in or want to change a payment instruction (i.e. payment date or payment amount) for a payment you have already scheduled, you may electronically edit or cancel the payment if done at least three (3) business days before the scheduled payment date. This can only be performed when the payment is pending. Once the transaction is completed, it is not possible to edit or cancel it. If your request is not timely entered, you will be responsible for the payment. You may also edit or cancel the payment by calling FECU at 507-455-5430 at least three (3) business days before the scheduled payment date. If you call, we may also require you to present your request in writing within fourteen (14) days after you call. You will be charged a stop payment fee for each. For a complete listing of all applicable fees, please refer to our Rate and Fee Schedule.

NON-SUFFICIENT FUNDS (NSF). If you have instructed FECU to make a payment for which there are non-sufficient available funds in your account, FECU is not responsible for making the payment and you will be charged non-sufficient fund fee per item, per occurrence which will automatically be taken from your account on the day the payment is scheduled to be processed. For a complete listing of all applicable fees, please refer to our Rate and Fee Schedule. FECU reserves the right to terminate your Online BillPay Service without notice to you or may require you to close your accounts if (1) you have three returned items within 90 days, (2) you do not meet other credit obligations of the Credit Union, (3) you do not comply with policies adopted by the Credit Union Board of Directors.

MERCHANT RETURN. If a merchant that you have instructed FECU to make a payment to cannot accept the payment for any reason and returns the payment, you will be charged a Merchant Return Fee per item. For a complete listing of all applicable fees, please refer to our Rate and Fee Schedule.

SECURITY OF ACCESS CODE. Access to your accounts requires utilization of a User ID and a Password and constitutes your access code ("Access Code"). Your Access Code is confidential and issued only to you. Your Access Code should not be disclosed to third parties or recorded. You are responsible for safekeeping your Access Code. You may change your Access Code at any time. You agree not to disclose or otherwise make your Access Code available to anyone not authorized to sign on your accounts. If you disclose your Access Code to another person, whether it is intentional, accidental, or negligent action, you are responsible for any such action. If you fail to maintain the security of the Access Code and FECU suffers a loss, we may terminate your Federated Employees Credit Union Online BillPay Service and account services immediately. You waive all present and future claims against FECU and release FECU from all responsibility for loss or damage not caused by FECU's negligence, which you might incur through unauthorized transactions of any kind from your account(s) through the custody or use of your PIN or Access Code. In the event that you misplace or forget your access code, you may contact the Credit Union to have it regenerated.

LIABILITY FOR UNAUTHORIZED ACCESS. You are responsible for all bill payments you authorize under this Agreement. If you permit other persons to use the Federated Employees Credit Union BillPay Service or your Access Code, you are responsible for any transactions they authorize or conduct on any of your accounts. However, tell us AT ONCE if you believe anyone has used your access code or accessed your accounts through Federated Employees Credit Union Online BillPay Service without your authorization. Telephoning is the best way of keeping your possible losses down. If you tell us within two (2) business days, you can lose not more than fifty dollars ($50.00) if someone accesses your accounts without your permission. If you FAIL to tell us within two (2) business days after you learn of the unauthorized use of your account or Access Code, and we can prove that we could have stopped someone from accessing your account without your permission if you had told us, you could lose the maximum allowed by law. Also, if your statement shows Federated Employees Credit Union Online BillPay Service payments that you did not make, tell us AT ONCE. If you FAIL to tell us within sixty (60) days after the statement was mailed to you, you may not get back any money lost after the sixty days (60) if we can prove that we could have stopped someone from making the payment if you had told us in time. If, in our sole discretion, a good reason (such as a hospital stay) kept you from telling us, we will extend the time periods. IF YOU BELIEVE THAT UNAUTHORIZED ACCESS HAS OCCURRED OR SOMEONE HAS USED YOUR ACCESS CODE OR HAS TRANSFERRED OR MAY TRANSFER MONEY FROM YOUR ACCOUNT WITHOUT YOUR PERMISSION, CALL FECU AT: 507-455-5430 OR WRITE FECU AT: FEDERATED EMPLOYEES CREDIT UNION 1929 S. CEDAR AVE OWATONNA, MN 55060.

FEES AND CHARGES. There are certain charges for Federated Employees Credit Union Online BillPay Service as set forth on FECU's Rate and Fee Schedule. From time to time, the charges may be changed. We will notify you of any changes as required by law.

PERIODIC STATEMENTS. Bill payments transacted through Federated Employees Credit Union Online BillPay Service will be recorded on your periodic statement. You will receive a statement monthly unless there is no transaction in a particular month. In any case, you will receive a statement at least quarterly.

ACCOUNT INFORMATION DISCLOSURE. We will disclose information to third parties about your account or the transfers you make:

TERMINATION OF FEDERATED EMPLOYEES CREDIT UNION ONLINE BILLPAY SERVICE. You agree that we may terminate this Agreement and your use of the Federated Employees Credit Union Online BillPay Service if you or any authorized user of your account or Access Code breaches this or any other agreement with us; or if we have reason to believe that there has been an unauthorized use of your account or Access Code. You or any other party to your account can terminate this Agreement by notifying us in writing. Termination of service will be effective two business days following receipt of your written notice. However, termination of this Agreement will not affect the rights and responsibilities of the parties under this Agreement for transactions initiated before termination.

NOTICES. FECU reserves the right to change the terms and conditions upon which this service is offered. FECU will mail notice to you before the effective date of any change, as required by law. Use of the Federated Employees Credit Union Online BillPay Service is subject to existing regulations governing your accounts and any future changes to those regulations.

DISPUTES. In the event of a dispute regarding the Federated Employees Credit Union Online BillPay Service, you agree to resolve the dispute by referring to this agreement and that the terms of this agreement shall govern.

BILLING ERRORS. In case of errors or questions about your Federated Employees Credit Union Online BillPay Service transactions, telephone us at the phone number or write to us at the address set forth above in the Liability for Unauthorized Access section as soon as you can. We must hear from you no later than sixty (60) days after we sent the first statement on which the problem appears.

If you tell us orally, we may require that you send us your complaint or question in writing within ten (10) business days. We will determine whether an error occurred within ten (10) business days after we hear from you and we 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 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 funds during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not credit your account. We will tell you the results within three (3) business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. If a notice of error involves an electronic fund transfer that occurred within thirty (30) days after the first deposit to the account was made, the applicable time periods for action shall be twenty (20) business days in place of ten (10) business days.

ENFORCEMENT. You agree to be liable to FECU for any liability, loss, or expense as provided in this Agreement that FECU incurs as a result of any dispute involving your accounts or services. You authorize FECU to deduct any such liability, loss, or expense from your account without prior notice to you. In the event either party brings a legal action to enforce the Agreement or collect any overdrawn funds on accounts accessed under this Agreement, the prevailing party shall be entitled, subject to applicable law, to payment by the other party of its reasonable attorney's fees and costs, including fees on any appeal, bankruptcy proceedings, or any post-judgment collection actions, if applicable.

GOVERNING LAW. This Agreement shall be governed by and construed in accordance with all applicable federal laws and all applicable substantive laws of the State of Minnesota, and the Bylaws of the Credit Union as they now exist or may be hereafter amended. You understand that we must comply with these laws, regulations, and rules. You agree that if there is any inconsistency between the terms of the Agreement and any applicable law, regulation, or rule, the terms of this Agreement will prevail to the extent any such law, regulation, or rule may be modified by agreement between us.

 

© Federated Employees Credit Union 2021