ONLINE BANKING AGREEMENT AND DISCLOSURE

 

This Online Banking Agreement and Disclosure ("Agreement") describes your rights and obligations as a user of the Online Banking service ("Service"). It also describes the rights and obligations of People First Federal Credit Union (“Credit Union”).  Please read this Agreement carefully. By requesting and using this Service, you agree to comply with the terms and conditions of this Agreement.

 

I.              Definitions

The following definitions apply in this Agreement:

1.     "Authorized Representative" refers to a person with authority (with respect to the account);

2.     "ISP" refers to your Internet Service Provider;

3.     "Online Banking" is the internet-based service providing access to your Credit Union account(s);

4.     "Online Account" means the Credit Union account from which you will be conducting transactions using a Service;

5.     "Password" is the member-generated code selected by you for use during the initial sign-on, or the codes you select after the initial sign-on, that establishes your connection to the Service;

6.     "PC" means your personal computer which enables you, with the Internet browser and ISP, to access your Online Account;

7.     "Time of day" references are to Eastern Standard Time;

8.     "User ID" is the member-generated code selected by you for your connection to the Service;

9.     "We", "us", or "Credit Union" refer to People First Federal Credit Union which offers the Services and which holds the accounts accessed by the Services; and

10.  "You" or "your" refers to the owner of the account or the authorized representative.

 

Access to Services

The Credit Union will provide instructions on how to use the Online Banking Service. You will gain access to your Online Accounts through the use of your Internet-enabled device that supports a compatible browser, your ISP, your Password, your User ID and a current email address. Browser compatibility may be tested from the link in the PC Access login section of our home page located at https://www.peoplefirstcu.org  You may access your Online Accounts 24 hours a day, seven (7) days a week.  However, availability of the Services may be suspended for brief periods of time for purposes of maintenance, updating and revising the software.

For purposes of transactions, the Credit Union’s business days are Monday through Saturday, excluding holidays. All Online Banking transaction requests received after 5:15 p.m. Monday – Wednesday, 6:00 p.m. Thursday, 7:00 p.m. Friday, and 12:00 p.m. Saturday and all transactions which are requested on Sundays or holidays on which the Credit Union chooses to remain closed, will be processed on the Credit Union’s next business day. The Credit Union’s business day begins at 9:00 a.m.

 

II.            Banking Transactions with Online Banking

A.    Transfer of Funds.  In addition to viewing account information, you may use Online Banking to conduct the transfer of funds. You may make one-time transfers or schedule future or recurring transfers such as transfers to make loan payments. You may transfer funds among your checking accounts, savings accounts and money market accounts.

NOTE: Because regulations require the Credit Union to limit preauthorized transfers (including Online Banking transfers), the following Reg D limitations apply:

Each member account is allowed a total of six (6) Reg D transactions per month.  Transfers made from share accounts through Online Banking are subject to this limitation.  Share accounts include regular Savings (S1), Holiday (S2), Vacation (S3), Special (S6), and Money Market (S7) accounts.  Transfers to make loan payments or from Share Draft (S4) accounts are not included in this limit.

If there are not sufficient funds in the account or the Reg D limits on the account have been reached, we cannot complete transfers through Online Banking. However, future recurring transfers may not be impacted.

For additional information on Reg D limitations visit https://www.peoplefirstcu.org/reg_d.pdf

B.    Additional Services.  New services may be introduced for Online Banking from time to time. The Credit Union will notify you of the existence of these new services. By using these services when they become available, you agree to be bound by the rules that will be made available to you concerning these services.

 

III.           Schedule of Fees

The Credit Union offers the benefits and convenience of the Online Banking Service to you free of charge.  Please refer to our fee schedule at https://www.peoplefirstcu.org/fee_schedule.pdf for a complete list of other fees that may impact your account.

 

IV.           Statements

You will continue to receive your regular account statement either monthly or quarterly, depending on the type of account.  You may elect to receive your regular account statement electronically by registering for this service in Online Banking.  Additional disclosures may apply.

 

V.            Use of Your Security Password

You are responsible for keeping your password and Online Account information confidential.  In order to protect yourself against fraud, you should adhere to the following guidelines:

If you believe your password has been lost or stolen, or if you suspect any fraudulent activity on your account, call the Credit Union immediately at 610.797.7440 between the hours of 9:00 a.m. and 5:15 p.m. Monday through Wednesday, 9:00 a.m. and 6:00 p.m. Thursdays, 9:00 a.m. and 7:00 p.m. Fridays and 9:00 a.m. and 12:00 p.m. Saturdays. Telephoning the Credit Union is the best way of minimizing your losses and liability. (Refer to Section XI)

If you believe your Password has been lost or stolen, please use the Password change feature within the Online Banking section of the Web site to change your Password.

 

VI.           Electronic Mail (E-mail)

If you send the Credit Union an e-mail message, the Credit Union will be deemed to have received it on the following business day.  You should not rely on e-mail if you need to report an unauthorized transaction from one of your accounts or if you need to stop a payment that is scheduled to occur.

 

VII.         Business Accounts

If you are a business, any authorized user of your business is authorized on such terms, conditions, and agreements as we may require to:

 

VIII.        Term and Termination

A.    Term. This Agreement will become effective on the first day you sign on the Service and shall remain in full force and effect until termination in accordance with the following provisions.

B.    Termination for Cause. We may immediately terminate your electronic banking privileges without notice to you under the following circumstances:

1.     you do not pay any fee required by this Agreement when due or

2.     you do not comply with the agreement governing your deposit or loan accounts or your accounts are not maintained in good standing.

 

We will promptly notify you if we terminate this Agreement or your use of the Service for any other reason.

 

C.   Termination for Convenience. To terminate this Agreement, you must notify the Credit Union and provide your name, address, the Service(s) you are discontinuing, and the termination date of the Service(s). You may notify the Credit Union by one of the following methods:

We may convert your account to inactive status if you do not sign on to the Service or have any transaction scheduled through the Service during any consecutive 90-day period. If your account is considered inactive, you must contact us to have the Service activated before you will be able to schedule any transaction through the Service.

 

IX.           Electronic Fund Transfer Provisions For Consumers

 

A.      Applicability. These provisions are only applicable to online electronic fund transfers that credit or debit a consumer's checking, savings or other asset account and are subject to the Federal Reserve Board's Regulation E (an "EFT").  When applicable, the Credit Union may rely on any exceptions to these provisions that are contained in Regulation E. All terms that are not defined in this Agreement but which are defined in Regulation E shall have the same meaning when used in this section.

B.    Your Liability. The following determines your liability for any unauthorized EFT or any series of related unauthorized EFTs:

  1. If you notify the Credit Union within two (2) business days after your Password was lost or stolen, your liability will not exceed $50.00 or the amount of the unauthorized EFTs that occur before notification, whichever is less

  2. If you fail to notify the Credit Union within two (2) business days after your Password was lost or stolen and we can prove that we could have stopped someone from using this information if you had told us then you could lose as much as $500.00

  3. You must report an unauthorized EFT that appears on your periodic statement no later than 60 days after the transmittal of the statement to avoid liability for subsequent transfers. 

  4. If the report is made orally, we may require that you send the complaint or question in writing within 10 business days. We will notify you with the results of the investigation within 10 business days and will correct any error promptly. If more time is needed, however, we may take up to 45 days to investigate a complaint or question. If this occurs, we will credit your account within 10 business days for the amount you think is in error. This will allow you to use the money during the time it takes us to complete our investigation. If requested and your complaint or question is not received in writing within 10 business days, we may not credit your account until the investigation is completed. If an alleged error involves an electronic fund transfer outside a state or territory or possession of the United States, the applicable time periods for action by us are 20 business days (instead of 10) and 90 calendar days (instead of 45). If we determine that no error occurred, we will send you a written explanation within three business days after the investigation is completed. You may request copies of the documents that were used in the investigation.

  5. You may notify the Credit Union by telephone, in writing, or by a secure email as provided in our Online Banking site. Notification by general e-mail to report an unauthorized transaction is not secure and therefore not advised.

For further information refer to the Electronic Services Agreement and Disclosure contained in the Agreements and Disclosures document located at https://www.peoplefirstcu.org/truth_in_savings.pdf

 

C.    Telephone Numbers and Addresses. In case of errors or questions regarding an Online Banking transaction, call our Member Service Center at 610.797.7440 or write us at:

2141 Downyflake Lane

Allentown, PA 18103

 

We must hear from you at the telephone number or address, listed above, no later than 60 days after we sent you the FIRST statement on which the problem or error appeared. We will need:

 

1.     Your name and account number

2.     A description of the error or the transfer in question and an explanation concerning why you believe it is an error or need more information

3.     The dollar amount of the suspected error and date on which it occurred.

 

X.            Liability

 

A.    Our Liability. This section explains our liability to you only to the extent that any other agreements, notices or disclosures have not separately disclosed our liability. In no event shall we be liable to you for failure to provide access to your Online Banking Service. Unless otherwise required by applicable law, we are only responsible for performing the Online Banking Service as delineated in this Agreement. We will be liable for the amount of any material losses or damages incurred by you and resulting directly from our gross negligence.

We will not be liable to you in the following instances:

1.     If through no fault of the Credit Union, you do not have enough money in your account to make the transfer.

2.     If circumstances beyond our control (such as fire, flood, power outage, equipment or technical failure or breakdown) prevents the transfer despite reasonable precautions that we have taken.

3.     If there is a hold on your account, or if access to your account is blocked, in accordance with credit union policy.

4.     If your funds are subject to a legal proceeding or other encumbrance restricting the transfer.

5.     If your transfer authorization terminates by operation of law.

6.     If you believe someone has accessed your accounts without your permission and you fail to notify the Credit Union immediately.

7.     If you have not properly followed the instructions on how to make a transfer included in this Agreement.

8.     If we have received incomplete or inaccurate information from you or a third party involving the account or transfer.

9.     If we have a reasonable basis for believing that unauthorized use of your Password or account has occurred or may be occurring or if you default under this Agreement, the deposit account agreement, a credit agreement or any other agreement with us, or if we or you terminate this Agreement.

 

IN NO EVENT SHALL WE HAVE ANY LIABILITY TO YOU OR ANY THIRD PARTY FOR ANY INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES RESULTING FROM OR ARISING OUT OF THIS AGREEMENT.

 

B.    Indemnification. You agree to indemnify, defend and hold us, our affiliate companies, directors, officers, employees and agents harmless against any third party claim, demand, suit, action or other proceeding and any expenses related to an Online Banking account.

C.    Third Parties.  We are not liable for any loss or liability resulting from any failure of your equipment or software, or that of an internet browser provider such as Netscape (Netscape Navigator browser) or Microsoft (Microsoft Internet Explorer or Edge browser), by an internet access provider, or by an online service provider, nor will we be liable for any direct, indirect, special or consequential damages resulting from your access to or failure to access an Online Banking account.

D.    Virus Protection. The Credit Union is not responsible for any electronic virus or viruses that you may encounter. We suggest that you routinely scan your PC using a virus protection product. An undetected virus may corrupt and destroy your programs, files, and your hardware.

 

XI.           General Terms and Conditions

 

A.    Credit Union Agreements. In addition to this Agreement, you and the Credit Union agree to be bound by and comply with the requirements of the agreements applicable to each of your Online Accounts. Your use of the Online Banking Service is your acknowledgment that you have received these agreements and intend to be bound by them. You should review our Agreements and Disclosures and Fee Schedule which may be obtained on our website, https://www.peoplefirstcu.org or by calling our Member Service Center at 610.797.7440.

B.    Changes and Modifications. The Credit Union may modify the terms and conditions applicable to the Service from time to time. We may send any notice to you via e-mail and you will have been deemed to have received it three days after it is sent. The revised terms and conditions shall be effective at the earliest date allowed by applicable law. We reserve the right to terminate this Agreement and the Agreement for Electronic Delivery of eStatements and eDisclosures, if applicable, and your use of the Service in whole or in part at any time without prior notice.

C.    Assignment. We may assign this Agreement to an affiliate of the Credit Union or any successor in interest in the event of a merger, reorganization, change of control, acquisition or sale of all or substantially all assets of the business to which this Agreement is related without the other party's prior written consent.

D.    Notices. Unless otherwise required by applicable law, any notice or written communication given pursuant to this Agreement may be sent to you electronically.

E.    Disclosure of Information. We will only disclose information to third parties about your account or transfers you make under the following circumstances:

For further information please review our Privacy Policy at  https://www.peoplefirstcu.org/Privacy_Policy.pdf

F.   Governing Law. This Agreement is governed by the laws of the Commonwealth of Pennsylvania and applicable federal law.