Virtual Branch Online Account Access
for INDEPENDENT FEDERAL CREDIT UNION

AGREEMENT AND DISCLOSURE STATEMENT

This Agreement governs your Internet/electronic access to your account(s) offered by Independent Federal Credit Union (Credit Union) through Virtual Branch Online Account Access (Virtual Branch).

'Account' or 'Accounts' refer to your accounts at the Credit Union.

The words 'you', 'your', and 'yours' refer to the Independent Federal Credit Union member(s) (jointly and severally), who signs up for Virtual Branch, joint owners, any authorized users and anyone else with the authority to deposit, withdraw, or exercise control over the funds in the account.

'Credit Union' refer to Independent Federal Credit Union and its branches, any agent, designee or assignee the Credit Union may involve in providing Virtual Branch. By having access to and/or using Virtual Branch, you agree to be bound by the terms and conditions of this Agreement, the Credit Union's Membership and Account Agreement, and the Electronic Funds Transfer Agreement (EFT).

You will be bound by this Agreement when you enroll in Virtual Branch. You also accept all the terms and conditions of this Agreement by using Virtual Branch. Please read it carefully and retain for your records.

Our Contact Information
You may contact us in the following manner:
Phone: 765-649-9271 or 800-284-5233 extension 5106
Email: Independent@Independentfcu.org
Mail: Independent Federal Credit Union
Attention: Virtual Branch
3737 Scatterfield Road
Anderson, IN 46013-2120

Virtual Branch Access
You may reach Virtual Branch Online Account Access at www.independentfcu.org. You can use Virtual Branch 7 days a week, 24 hours a day, 365 days a year. Occasionally, some or all of the Virtual Branch services may not be available due to emergency or scheduled system maintenance. A Logon ID and Security Code are required to access Virtual Branch. There is no limit to the number of inquiries you may have in any one day.

Enrolling in Virtual Branch
To qualify for access to the Virtual Branch, you must:

  1. Be the primary owner of the account
  2. Have a Credit Union share account with a minimum balance of $5.00
  3. Have access to Internet service and
  4. Have an email address
  5. Be a Credit Union member in good standing

Your member Account Number, Social Security Number, Birth Year and Address Number are required for initial enrollment to Virtual Branch.

Logon
Users will create a personalized Logon ID.
Logon IDs can be between 6 and 50 alpha numeric characters, all alpha or all numeric. (If your account number is less than 6 characters and was converted from the Credit Union's previous Home Financial Service (HFS), the Credit Union grandfathered the Logon ID into Virtual Branch.)
You accept responsibility for periodically changing your Logon ID to protect the integrity of the Logon ID and to help protect unauthorized transactions and account access.

Security Code (Password)
You accept responsibility for periodically changing your Security Code (Password) to protect unauthorized transactions and account access.

You agree to keep your Access Logon ID and Security Code confidential to prevent unauthorized access to your account. You agree to not give your Access ID and Security Code to any unauthorized person.

Your Security Code should not be associated with any commonly known personal identification such as social security numbers, address, date of birth, or names of children and should not be written down and assessable by other non-authorized users.

Use the following criteria to set up your Security Code:

  1. The security code must not have been used previously.
  2. The security code must contain at least 8 characters.
  3. The security code must be between 8 - 16 alpha and numeric characters.
  4. The security code must contain at least 2 alphabetic characters.
  5. The security code must contain at least 2 numeric characters.
  6. Do not use any special characters.

The Credit Union does NOT have access to your personal Security Code; however, the Credit Union can issue a new temporary Security Code in the event you forgot your current Security Code or you have been locked out due to three invalid login attempts. As with your initial password, any password issued by the Credit Union must be changed by the member at the next login.

Joint Accounts
You are financially liable for all losses or misuse of your account(s) when you grant access to your account via Virtual Branch to any non-owner or joint owner.

All joint owners, including authorized users are bound by this Agreement and, alone and together, shall be responsible for all transfers to or from any savings, checking or loan accounts as provided in this Agreement.

Each joint owner, without the consent of any other account owner, may, and hereby is authorized by every other joint account owner to, make any transaction permitted under this Agreement. Each joint owner is authorized to act for the other account owners, and the Credit Union may accept orders and instructions regarding any transfers on any account from any joint owner or authorized user.

Transactions Available
You can perform the following on your account(s):

  1. Obtain balances and other account information on savings (share) and checking (draft) accounts in addition to share certificates, IRAs, and loans.
  2. Make transfers between savings, checking, and loan accounts.
  3. Transfer advances from your personal line-of-credit loan to savings accounts.
  4. Make transfers from your saving accounts to other saving accounts that you share an association.
  5. View check copies and re-order checks.
  6. Send email to the Credit Union.
  7. View 6 month history of credit union statements.
  8. Review 200 days of savings history, 90 days of checking history, 18 months of certificate history, 18 months of open end loan history, and closed end loan history for the life of the loan.
  9. Download account information into financial management software programs for reconciliation.
  10. Virtual Branch does NOT support information regarding credit card accounts.

Notices to You
All notices from us will be effective when we have mailed them or delivered them to your last known address in the Credit Union's records.

Notices from You
You agree that all electronic communications that we receive from you on the Credit Union website are deemed valid and authentic. You agree that these electronic communications are the same as your written and signed paper communications and are deemed for all purposes to have been signed and constitute an original when printed from electronic files or records established and maintained in the normal course of business.

Errors or Questions about Your Electronic Transfers
In case of errors or questions about electronic transfers, you can call the credit union at 765-649-9271 or 800-284-5233 or send an E-mail to Independent@Independentfcu.org. In the event you are unable to call or email, please write to Independent Federal Credit Union at 3737 S Scatterfield Road, Anderson, IN 46013-2120. We must hear from you no later than sixty (60) days after we sent the first statement on which the problem appears.

  1. Tell us your name and member number.
  2. Describe the error or the electronic transaction you are unsure about, and explain as clearly as you can why you believe it is an error, or why you need more information.
  3. Tell us the dollar amount of the suspected error.
  4. If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days. We will notify you with the results of our investigation within 10 business days (20 business days if your complaint or question involves a transaction to or from an account within 30 days after the first deposit to the account was made) after we hear from you. We will correct any error promptly.
  5. If we need more time, we may take up to 45 days (90 days if your complaint or question involves a transaction to or from an account within 30 days after the first deposit to the account was made) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (20 days if the complaint or error involves a transaction to or from an account within 30 days after the first deposit to the account was made) 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.
  6. If we ask you to put your complaint or questions in writing and we do not receive it within 10 business days, we may not credit your account.
  7. If we decide that there was no error, we will send you a written explanation within 3 business days after we finish our investigation. You may request copies of the documents we used in our investigation.

Liability
You are responsible for all transactions you authorize using Virtual Branch, Bill Pay or Electronic Funds Transfer (EFT) services. If you permit other persons to use your access code, you are responsible for any transactions they authorize or conduct on any of your accounts.

Neither the Credit Union or affiliates, or any party involved in the creating, producing, or delivering of Virtual Branch is liable for any direct or indirect, incidental, consequential, punitive or other damages of any kind after accessing Virtual Branch.

The Credit Union or service providers will not be responsible for any direct, indirect, special, consequential, economic or other damages arising in any way due to installation, use, or maintenance of the equipment, software, the on-line access service, or Internet browser or access software you use.

The Credit Union is not responsible for any electronic virus or viruses that you may encounter. We encourage all of our members to scan their computer with a reliable virus protection product to detect and remove any viruses.

Liability for Unauthorized Transactions
You will be liable for unauthorized access to accounts via Virtual Branch to the extent allowed by applicable federal and state law. You must tell us AT ONCE if you believe your Member number, or Logon ID, or any record thereof, has been lost or stolen, or if any of your accounts have been accessed without your authority.

Telephoning is the best way of minimizing your liability. You could lose all the money in your accounts, plus your maximum overdraft line-of-credit. If you tell us within two (2) business days of the loss, theft, or unauthorized access, you can lose no more than $50 if someone accessed your account without your permission. If you do NOT tell us within two (2) business days after you learn of the loss, theft or unauthorized access, and we can prove we could have stopped someone from accessing your account without permission if you had notified us, you could lose as much as $500.

Further, if your statement shows transfers that you did not make, you must tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not receive 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 notified us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we may extend the time periods.

Limitations on Transfers
We are not required to complete a withdrawal or transfer from your account(s) if you do not have enough money in the designated account(s) to cover the transaction; however, we may complete the transaction requested based on other agreements you may have with the Credit Union.

You agree not to use Virtual Branch to initiate a transaction that would cause the balance in your designated account(s) to go below zero.

If you have a line-of-credit, you agree not to use Virtual Branch to initiate a transaction that would cause the outstanding balance of your line-of-credit to go above your credit limit. We are not required to complete such a transaction, but if we do, you agree to pay us the excess amount or improperly withdrawn amount or transferred amount immediately upon our request.

We also will refuse to complete your Virtual Branch transactions if we have canceled your Virtual Branch, or we cannot complete the transaction for security reasons.

The functions and limitations of Virtual Branch may be updated, without notice, at the option of the Credit Union in order to provide improved service to the membership.

Transactions that are Not Completed
If we fail to complete a transfer to or from your designated account(s) on time and in the correct amount, and we have agreed to perform such transfer(s) (with certain exceptions), we may be liable for your losses or damages. We also will not be liable:

  1. If we have terminated this Agreement.
  2. If through no fault of ours, you do not have enough money in your account(s) to make the transfer.
  3. A legal order directs us to prohibit withdrawals from the account(s).
  4. The funds in your designated account(s) are subject to legal process or other encumbrance restricting the transaction.
  5. If circumstances beyond our control (such as fire or flood) prevent the transaction from being completed despite reasonable precautions we have taken.
  6. You have reported an unauthorized use of your Member Number and Security Code, reported it as stolen, or requested that we issue a new Security Code, and we have as a result refused to honor the original Security Code.
  7. If your account is closed, frozen, or funds are uncollected.
  8. If you, or anyone authorized by you, commits any fraud or violates any law or regulation.
  9. If the transfer would cause your balance to become negative or exceed the credit limit of an established line of credit loan.
  10. If any part of Virtual Branch is not working properly and you knew about the problem when you started the transactions.
  11. If other exceptions are introduced as provided by applicable law.

Designated Account Information
You authorize us to obtain any information deemed necessary to process your request for access to Virtual Branch. Additionally, you agree that we will disclose information to third parties about your designated account(s) or the transactions you make:

  • Where it is necessary for completing or documenting transactions or resolving errors involving transactions.
  • In order to verify the existence and condition of your designated account(s).
  • In order to comply with orders or subpoenas of government agencies or courts.
  • If you give us written permission.

Our Business Days
Our business days are Monday through Friday, other than legal banking holidays.

Pre-Authorized Payments
You may not use Virtual Branch to enter into pre-authorized payment arrangements.

Terminating This Agreement
You can terminate this Agreement at any time by notifying us in writing and by discontinuing the use of your Logon ID. We can also terminate this Agreement and revoke access to Virtual Branch at any time. Whether you terminate the Agreement or we terminate the Agreement, the termination will not affect your obligations under this Agreement, even if we allow any transaction to be completed with your Logon ID after this Agreement has been terminated.

Fees for Virtual Branch
The Credit Union offers the benefits and convenience of Virtual Branch services to you free of charge. See the Bill Pay Terms and Conditions or the Credit Union's fee schedule for other normal fees and charges assessed.

Changing This Agreement
We may change any term of the Agreement at any time. If the change results in increased fees for any services, increased liability for you, fewer types of available electronic fund transfers, or stricter limitations on the frequency or dollar amount of transfers, we agree to give you notice of at least 21 days before the effective date of any such change, unless any immediate change is necessary to maintain the security of an account, or our electronic fund transfer system, or for any security reasons.

Fees are subject to change. The Credit Union will notify you in writing regarding any fee change at least 30 days in advance of the effective date of a change.

We will post any required notice of change in terms in the quarterly newsletter, on our web site, personal E-mail, or postal mail. If advance notice of the change is not required, and disclosure does not jeopardize the security of the account or our electronic fund transfer system, we will notify you of the change in terms within 30 days after the change becomes effective.

Your continued use of any or all of the credit union's services indicates your acceptance of the change in terms. We reserve the right to waive, reduce, or reverse charges or fees in individual situations. You acknowledge and agree that the applicable deposit agreements and disclosures govern changes to fees applicable to specific accounts.

Evidence
If we go to court for any reason, we can use a copy, microfilm, microfiche, or photograph of any document or person to prove what you owe or that a transaction has taken place and the copy, microfilm, microfiche, or photograph will have the same validity as the original.

Collection Expense
If we ever have to file a lawsuit to collect what you owe us, you will pay our reasonable expenses, including attorney's fees.

Governing Law
This Agreement is also subject to applicable Federal, NCUA, and the State of Indiana Laws and Regulations, the Credit Union's By-Laws and local clearing house rules as amended from time to time.

If any provisions of this Agreement are found unenforceable or invalid, all remaining provisions will continue in full force and effect.