Electronic Funds Transfer Disclosure

DFCU Financial makes available to members various "electronic fund transfer" services, made possible by our advanced electronic data processing system. These transfers are made by use of Electronic Funds Transfer "EFT" cards that we issue to our members. Sometimes two or more persons are furnished such cards relating to the same account in the Credit Union. In this disclosure we sometimes call these cards "ATM cards."

We also provide a secret personal identification number (called a "PIN") to our members. The "ATM" card can be used, together with the PIN in automated teller machines (ATMs) to make deposits or withdrawals from your draft/checking account or your share/savings simply by following the instructions at the machine.

This disclosure is a contract. That is, the terms and conditions set out here are binding on you and on us as to the making of such "electronic fund transfers" by the use of the ATM cards and PINs in the following cases:

If you ask us to provide you with a PIN and you thereafter use it, together with an ATM card we have issued, to make such transactions.
If you receive an ATM card from us without asking for it but then ask us to provide you with a PIN and you do thereafter use the card and PIN to make such transactions.

In all such cases, your making of such transactions constitutes your acceptance of the terms and conditions set in this disclosure.

Although your draft/checking account and/or share/savings may be subject to "electronic fund transfers" and in that regard are subject to the terms and conditions of this disclosure, you may continue to use those account(s) to the same extent and in the same manner that you have in the past insofar as "over-the-counter" and other non-electronic transactions are concerned.

This disclosure is being furnished to all of our members. Members who do not wish to authorize any "electronic fund transfer" service for any of their account(s) in the Credit Union when they receive this disclosure need not concern themselves with it.

We allow electronic check transactions to post to your draft/checking account.

(1) Accounts affected: Each of the following types of accounts in the Credit Union can be subject to some kind of "electronic fund transfer" service:

Share
Savings Draft
Checking Accounts

These types of accounts are sometimes referred to in this disclosure as "asset account(s)" or simply as your "account(s)"

You may designate which of your account(s) you want to be subject to any particular type of "electronic fund transfer" service. You may change those instructions in the future, and we will follow your new wishes to the extent our "electronic fund transfer" programs permit at this time.

(2) Account Agreements: The terms and conditions of the account agreements relating to your accounts with us remain in effect except to the extent modified by this disclosure. To be entitled to make "electronic fund transfers" at an ATM machine, you must have an account with us. We reserve the right to impose other restrictions in the future, but if we do so we will give you at least 21 days advance written notice.

(3) "Electronic Fund Transfer" Services: At the present time, you can authorize the following types of "electronic fund transfers" to or from your asset account(s) in the Credit Union:

Automated Teller Machine Transactions: If you have an ATM card for which we have issued a PIN, you can use it in ATM machines to make transactions as follows:

Withdraw cash from your draft/check and/or share/savings accounts ("Accounts").
Make deposits to your Accounts. (Please refer to our Funds Availability Disclosure to determine when funds will be available to you)
Transfer funds between your Accounts.
Check the balance of your Accounts.
Pay for purchases at places that have agreed to accept the Card, including purchasing goods and services from Visa® or MasterCard® merchants. The funds to pay for such purchases, including receiving cash back as part of the purchase, including receiving cash back as part of the purchase, will be debited from your primary personal draft/checking account. These transactions may be transmitted immediately. We may place a hold on the funds in your Account as soon as we receive notice that you have performed this kind of transaction. Pay bills directly from your Accounts in the amounts and on the days you request.

Some of these services may not be available at all terminals, or with all cards. If you become indebted to us due to an EFT, you agree to pay us the amount of indebtedness as follows:

You authorize us to access your overdraft line of credit, if you have such a line of credit with us, to pay off the amount of the indebtedness. If you do not have an overdraft line of credit with us or there is not sufficient credit available under that line of credit, you authorize us to access any other available line of credit with us to pay off the amount of indebtedness. Any amounts we use by accessing a line of credit shall be paid back in accordance with the terms of such loans. If you do not have a line of credit with us or there is not sufficient credit available under that line of credit we will transfer available funds from your account to pay off the indebtedness. If after accessing lines of credit and transferring funds available in your accounts with us your indebtedness is not satisfied, we may institute legal proceedings to recover the indebtedness. If an Account is a joint account, the funds in the joint account may be used to pay off the debt without notice to you or any joint owner. You will release us from all liability arising out of the right to pay debts from your Accounts. Further, you authorize us to draw on any line of credit you have attached to any Account to pay any debt you owe us.

You can discontinue use of any such service whenever you want to. If you begin using a different "electronic fund transfer" service after receipt of this disclosure, we must be notified of the account(s) to be affected.

Point of Sale Transactions: Your ATM/Debit Card may be used to purchase goods or services from merchants who have arranged to accept an ATM Card or a MasterCard Debit Card as a means of payment. If you have a Debit Card, it may be used to purchase goods and services from MasterCard Debit Card merchants. These merchant are collectively referred to as "Participating Merchants" and will display a logo or other symbol that identifies them as a merchant who will accept your Card. Purchases made with your Card, including any purchases where you receive cash back, are referred to as "point of sale transactions" or "POS" transactions. A POS transaction will cause your draft/checking account to be debited for the amount of the purchase. Only draft/checking accounts may be used in connection with point of sale transactions performed with your Card.

ACH Services: We may make the following automated clearing house services available to you:

Preauthorized Transfers: You may authorize us or others to make the transfers to or from your Accounts on your behalf before the transfers are made, otherwise known as "preauthorized transfers". These transfers are performed electronically, and are governed by federal laws pertaining to EFT services, which entitle you to certain protections contained in this Agreement, unless the transfers are initiated using an access device not issued by us.
Other Access Devices and Remote Services: You may make transfers from your Accounts using access devices other than the access device issued by us. Further, you may make transfers by telephone or computer if you have arranged with a third party for these services. Such transactions are NOT covered by this Agreement, except that we will provide you information on your periodic statement describing them, and disputes involving point of sale transactions will be handled by us under this Agreement. All inquiries and error notices should be directed to the issuer of the access device.
Limitations on "Electronic Fund Transfers": There are no limitations on the number or dollar amount of deposits or payment transactions you may make at any ATM during its 24-hour operating cycle. However, to protect against possible losses, your card will not allow you to withdraw more than $500.00 cash from an ATM during such a 24-hour cycle while our system is on-line, and $110.00 while our system is off-line (even if two ATM Cards have been issued for a single account). For example, when a husband and wife each have a card for their joint account. A separate off-line limit will be set with regard to Point of Sale entries. We will disclose that limit to you separately. We reserve the right to change these limitations, and we will give written notice of any such change at least 21 days in advance.

The single day transaction limitation for your MasterCard debit card is $2000.00 on-line and $200.00 off-line. You may have the right to require us to program our system so that no more than $50.00 cash can be obtained by use of your ATM/Debit Card during a single day. Please contact us if you want this option.

(4) Fees for "Electronic Fund Transfers": We may impose certain charges or minimum balance requirements when you use your card and with the Accounts accessible by your card. All fees and minimum balance requirements are detailed in the schedules given to you when you opened your Account. You agree to pay all fees and charges that the Credit Union imposes in connection with an EFT.

We reserve the right to impose fees, and to thereafter increase them, if we deem it necessary. We will give you at least 21 days advance written notice before imposing or increasing any such fees.

All Electronic Fund Transfer fees that may apply to your account(s) are disclosed in the Fee Schedule.

When you use an ATM not owned by us, you may be charged a fee by the ATM operator, or any network used, and you may be charged a fee for a balance inquiry even if you do not complete the fund transfer.

Draft/Checking Conversion Transactions: A transfer through an automated clearing house when you provide a draft/check to certain merchants or other payees that enables the merchant or other payee to capture the routing, account, and serial numbers to initiate the transfer, whether the draft/check is blank, partially completed, or fully completed and signed; whether the draft/check is presented at POS or is mailed to a merchant or other payee or lockbox and later converted to an electronic fund transfer, or whether the draft/check is retained by the consumer, the merchant or other payee, or the payee’s financial institution. Your authorization to make such types of electronic funds transfers may be expressed in writing or implied, for example, by the posting of a sign.

(5) Reversing "Electronic Fund Transfers": If an "electronic fund transfer" was a payment of $50.00 or more for goods or services, you have the right to require us to reverse such transfer and to re-credit your account with the full amount of the transfer if:

(1) You tell us, within 10 calendar days after the date of the transfer, to make such a reversal

(2) You notify us that you have made a good faith attempt to resolve your dispute with the third party involved

(3) You assure us that any returnable goods involved in the dispute will be returned.

If you do these things in writing, you MUST send the letter to:

DFCU Financial
4510 S. Pennsylvania
Lansing, MI 48910

If you phone us, you MUST call at:

(517) 394-0200

If you tell us orally that you want such a transfer reversed, you must send us a letter to confirm your reversal request, your notice of attempted resolution of the dispute, and your assurance to return any returnable goods involved. You are required to get this letter back to us within 14 calendar days after the date of your oral request for reversal. We reserve the right to impose a reasonable charge for handling such reversal requests, and to increase such charges thereafter.

(6) Currency Conversion: If you effect a transaction with your MasterCard debit card in a currency other than US Dollars, MasterCard International Incorporated will convert the charge into a US Dollar amount. MasterCard International Incorporated will use its currency conversion procedure, which is disclosed to institutions that issue MasterCard cards. Currently the conversion rate used by MasterCard International Incorporated to determine the transaction amount in US Dollars for such transactions is generally either a government mandated rate or a wholesale rate determined by MasterCard International Incorporated for the processing cycle in which the transaction is processed, increased by an adjustment factor established from time to time by MasterCard International Incorporated. The currency conversion rate used by MasterCard International Incorporated on the processing date may differ from the rate that would have been used on the purchase date or cardholder statement posting date.

(7) Documentation of Transfers: Right to Receive Documentation. You may receive a receipt when you use your Card at a terminal or participating merchant. You will receive a periodic statement unless there are no EFT transfers in a particular month. In any case, you will receive a statement at least quarterly, unless your Account is dormant.

(8) Confidentiality of Information to Third Parties: We will disclose information to third parties about your account or the transfers you make:

Where it is necessary for completing transfers, or
In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or
In order to comply with government agency or court orders, or
If you give us written permission

(9) In case of Errors or Questions About Your "Electronic Fund Transfers" as described in Section 3:

Telephone us at:

(517) 394-0200
[Ask for the Card Services Department]

Write us at:

DFCU Financial
P.O. Box 27489
Lansing, Michigan 48909-0489
Attn: Card Services Department

Please contact us as soon as you can, if you think your statement or an automated teller machine receipt is wrong or if you need more information about a transfer listed on the 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 transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information;
Tell us the dollar amount of the suspected error. If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.

We will tell you the results of our investigation within 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 45 days** to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days* for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account.

If we decide that 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.

*If you give notice of an error within 30 days after you make the first deposit to your account, we will have 20 business days instead of 10 business days.

**If you give notice of an error within 30 days after you make the first deposit to your account, notice of an error involving a point of sale transaction, or notice of an error involving a transaction initiated outside the U.S., its possessions and territories, we will have 90 days instead of 45 days to investigate.

(10) Liability for Failure to Make "Electronic Fund Transfers": If we do not complete an "electronic fund transfer", as described in Section 3, to or from your account(s) 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 your account to make the transfer or if your funds are ubject to legal encumbrance.
If we have terminated this Agreement.
If any part of the system supporting the terminal was not working properly and you knew that before you began the transaction or during the processing of the transaction.
If the terminal where you attempted the transaction did not have enough money to complete the transaction or support the type of transaction you requested.
When your Card has been reported lost or stolen or we have reason to believe that a transaction has not been properly authorized.
When, despite reasonable precautions taken by us, an act of God or other circumstances beyond our control interferes with or prevents the transaction.
When we receive inaccurate or incomplete information needed to complete a transaction.
If any authorizations for completing the transfer have been revoked by operation of law.
If you use or try to use your ATM card after your right to use it has been canceled.
If we have, because of your default, exercised our rights against the funds in your account pursuant to a pledge of those funds you gave us.
If the transfer would go over the credit limit on your overdraft line.

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