IRCO COMMUNITY FEDERAL CREDIT UNION
VIRTUAL BRANCH INTERNET BANKING and BILL PAY
AGREEMENT AND DISCLOSURE INFORMATION

What the words mean:
In this agreement, the words “you” and “your” mean each of the persons who uses your Virtual Branch password with your consent. “We”, “Us”, and “Our” mean IRCO Community Federal Credit Union. “Account” means each of your accounts with which you use your Virtual Branch passwords.

This disclosure for Virtual Branch is provided in addition to other disclosures you have received from IRCO Community Federal Credit Union that govern the use of Electronic Funds Transfer (“EFT”) services.

GENERAL AGREEMENT

You understand that by using your Virtual Branch password you have agreed to the terms and conditions of this Agreement. You also agree to use Virtual Branch solely as provided in this Agreement.

This Agreement between you and IRCO Community Federal Credit Union governs the use of Virtual Branch, an electronic service that permits you to access a number of financial services through the use of personal computers or similar access devices. Access may be provided through a private network connection or through the World Wide Web. Accounts and services provided by IRCO Community Federal Credit Union, which you access through Virtual Branch, may be governed by separate Agreements with you. We may change the Virtual Branch services and the terms, including fees, set forth in this Agreement at any time. You will be notified of any such change as required by applicable law, either by mail or by an electronic message. You understand that by using the Virtual Branch program after a change becomes effective, you have agreed to it.

This Agreement will remain in effect until it is terminated by you or by us. You understand that you may cancel this Agreement at any time by notifying us by mail at the address indicated in this Agreement. This will also cancel any Virtual Branch program services but will not terminate your accounts with us. We may cancel this Agreement and terminate your use of the Virtual Branch program for any reason, at any time. We will try to notify you in advance, but we are not obligated to do so.

VIRTUAL BRANCH INTERNET BANKING DISCLOSURE

1. Your Virtual Branch Password: You may change your Virtual Branch password at any time. We strongly recommend that you select an 8 - 16 digit alphanumeric (example: 1234abcd) value for your password to ensure utmost security.

2. Right to Receive Documentation of Transfer: You can call us at 800-538-1572 to find out if a transfer was made. You will get a statement of account on your regular member account statement.

VIRTUAL BRANCH BILL PAY DISCLOSURE

1. Types of Available Transfers & Limits on Transfers: The Bill Pay service in Virtual Branch enables you to access your credit union account from a personal computer using a password to:

• Pay recipients from your share draft account
• Review records of your last payments
• Change the password on your account
• Modify/add/delete recipients

There is no limit to the number of payments allowed from your share draft account. There is $9,999.99 limit on the dollar amount of individual Virtual Branch Bill Pay payments.

2. Virtual Branch Bill Pay Basic Functionality & Processing Issues: When you instruct us to pay a bill through Virtual Branch Bill Pay, you authorize us to withdraw the necessary funds from your share draft account. You agree that you will instruct us to make a withdrawal only when a sufficient balance is or will be available in your share draft account at the time of the processing date. We are not obligated to act on any withdrawal instruction from you if sufficient funds are not available in your share draft account.

In Virtual Branch Bill Pay, you establish payees, the company or person to whom the bill is being paid. When you want to make a payment to one of your established payees, you enter an amount to be paid and a processing date, which is the date the payment will begin processing. It will take approximately 3 BUSINESS days for electronic payments and 5 BUSINESS days for check payments to reach their designated payees. Business days do not include Saturday, Sunday or holidays.

If there are insufficient funds available in your share draft account on the processing date, you will NOT receive a separate notification from us. Your scheduled payments in Virtual Branch Bill Pay will reflect the payment was not processed due to insufficient funds.

You can cancel a future Virtual Branch Bill Pay payment by deleting or editing a scheduled payment in Virtual Branch Bill Pay.

3. Fees and Charges: IRCO does not intend to charge a monthly fee for the Virtual Branch Bill Pay service. We do, however, reserve the right to do so in the future and will provide advance notice to all users. There is a $40.00 fee for each Bill Pay stop payment. There is a $35.00 fee for each Bill Pay payment investigation. Please refer to your Truth in Savings Rate and Fee Schedule Disclosure for other fees.

OUR RESPONSIBILITIES

1. General Disclosure: We agree to make reasonable efforts to ensure full performance of the Virtual Branch program. We will be responsible for acting only on those instructions sent through the Virtual Branch program, which are actually received and cannot assume responsibility for malfunctions and communications facilities not under our control that may affect the accuracy or timeliness of messages you sent. We will not be responsible for any losses or delays in transmission of instructions arising out of the use of any communication system such as the World Wide Web, telephone lines, etc., or caused by any software failing other than software owned and maintained by us. We are not responsible should you give incorrect instructions or if your payment instructions are not given sufficiently in advance to allow for timely payment.

Except as otherwise provided in this section, and in the absence of gross negligence on the part of us: (a) we are not responsible for any direct, indirect, special, incidental or consequential damages arising in any way out of the use of the Virtual Branch; (b) the entire liability of IRCO Community Federal Credit Union, its employees, officers, directors, agents, affiliates, etc., and your exclusive remedy with respect to use of the Virtual Branch program shall be to use its best efforts to locate and correct any or all errors occurring or manifesting in the Virtual Branch program which materially affect the ability of the Virtual Branch program to provide the services stated herein. The foregoing shall constitute the sole and exclusive remedy available to you. Because some states do not allow the exclusion or limitation of liability for consequential or incidental damages, in such states the liability of IRCO Community Federal Credit Union is limited to the extent permitted by law.

NEITHER IRCO COMMUNITY FEDERAL CREDIT UNION, NOR ANY OF ITS EMPLOYEES, OFFICERS, DIRECTORS, AGENTS, AFFILIATES, ETC., MAKES ANY EXPRESS OR IMPLIED WARRANTIES CONCERNING THE VIRTUAL BRANCH PROGRAM SOFTWARE OR SERVICES OR BROWSER, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT OF THIRD PARTY PROPRIETARY RIGHT UNLESS DISCLAIMING SUCH WARRANTIES AS PROHIBITED BY LAW.

2. Statements: Transactions made through Virtual Branch will be disclosed on your regular member statement. No other receipts will be sent.

3. Our Liability: If we do not complete a transaction to or from your account on time or in the correct amount or in accordance with your confirmation number, according to our agreement with you, we may be liable for losses or damages. However, there are some exceptions. We will not be liable, for example:

• If, through no fault of ours, you do not have enough money in your account to make the transfer.
• If the system is not working properly and you know about the breakdown when you start the transaction.
• If circumstances beyond our control (such as fire or flood) prevent the transaction, despite reasonable precautions we have taken.

4. Limit on Liability: You may recover only your actual damages if our failure to complete a transaction:

• Is not intentional.
• Results from mistakes made in good faith.
• Should have been prevented by our usual practices.

5. Miscellaneous Provisions

• Severability: In the event any one or more of the provisions of this agreement shall for any reason be held to be invalid, illegal or unenforceable, the remaining provisions shall remain valid and enforceable.
• Governing Law: This agreement shall be governed by the laws of the State of New Jersey and, where applicable, by Federal Law.

YOUR RESPONSIBILITIES

1. Safeguarding your Password: You agree to protect your password. Do not keep your password and your account number in the same place. Memorize your password. Do not reveal your password to anyone who is not allowed to access your account. We will not be responsible for losses that occur because you did not follow these instructions.

2. Loss or Theft/Liability: Tell us AT ONCE if you believe your password has been lost or stolen. Telephoning is the best way of keeping possible losses down. You could lose up to $500 from your accounts. If you tell us within two (2) business days, you can lose no more than $50 if someone used your password without your permission. If you do NOT tell us within two (2) business days after you learn of the loss or theft of your password, and we have proof that we could have stopped someone from using your password without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transactions you did not make, tell us at once. If you do not tell us within sixty (60) days after the statement was mailed to you, you may not get back any money you lost after the sixty (60) days if we can prove that we could have stopped someone from taking the money had you told us on time.

3. Wrongful Use: If someone uses your password without your consent, you will agree to provide us with a written sworn statement and will help us investigate the wrongful use. The statement will be written on our form and completely filled in. We do not have to credit you for those losses before you give us that statement.

4. Reviewing Your Statements: You agree to review your statements as soon as you receive them. If a statement shows a transaction not made by you or shows any other error, you must tell us promptly. If you do not tell us within sixty (60) days after we mail the statement to you, the statement will be deemed correct; all transactions shown on the statement will be deemed to have your consent. In addition, any further unauthorized transactions made with your number, after an error that is not reported to us, will be deemed to have your consent.

5. Joint Owner Usage: You may authorize the joint owners of your account to utilize Virtual Branch by disclosing your password to them. Be advised that your password grants access to all share and loan suffix sub-accounts of your primary account number, and you agree that you are responsible for all transactions initiated by your password.

If YOU HAVE A PROBLEM

1. Business Days: Our business days and hours are: Monday through Thursday 9:00 a.m. to 5:00 p.m., Friday 9:00 a.m. to 6:00 p.m. Holidays are not included.

2. Lost or Stolen Password: If you believe your password has been lost or stolen, or that someone has transferred money from your account without your permission, call us at 800-538-1572, or write to us at:

  IRCO Community Federal Credit Union
  450 Hillcrest Blvd.
  Phillipsburg, NJ 08865

3. Ending Authorized Use: If someone else is allowed to use your password and you want to end that person’s use, you must tell us in writing. Send your notice to:

  IRCO Community Federal Credit Union
  450 Hillcrest Blvd.
  Phillipsburg, NJ 08865

ACCOUNT INFORMATION DISCLOSURE

We will disclose information to third parties about your accounts or the transactions you make:

• Where it is necessary for completing transactions.
• In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant.
• In order to comply with a government agency or court orders.
• If you give us permission.
• If it involves a claim against us on an item deposited to or drawn against your account.
• If it is allowed under state or federal privacy laws.

IN CASE OF ERRORS OR QUESTIONS

If you have errors or questions about any of your transactions, you think your statement is wrong, or if you need more information about a transaction listed on the statement, call us at 800-538-1572, or send us a written notice as soon as possible to the following address:

  IRCO Community Federal Credit Union
  450 Hillcrest Blvd.
  Phillipsburg, NJ 08865

We must hear from you no later than sixty (60) days after we send the FIRST statement on which the problem or error appears.

• Tell us your name and account number
• Describe the error or transaction in question and explain as clearly as possible 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 verbally, we may require that you send and we receive your complaint or question in writing within ten (10) business days.

We will tell you the results of our investigation within ten (10) business days after we hear from you and will correct any error promptly. If additional time is required, it may take up to forty-five (45) days to investigate your complaint or question. If so, your account will be adjusted within ten (10) business days for the amount you think is in error. 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 adjust your account. If we decided that there was no error, we will send you a written explanation within three (3) business days after our investigation is complete. You may request copies of the documents used in our investigation. A fee may be charged for this document request.

ADDITIONAL SERVICES

Under the terms of this agreement, all required notices, including IRCO Community FCU’s annual Privacy Notice will be provided through electronic means. By use of the VIRTUAL BRANCH product, you agree to accept delivery of required notices by electronic means.

We may offer other Virtual Branch transaction services from time to time; all of those transactions will be subject to this agreement.

BY USE OF YOUR VIRTUAL BRANCH PASSWORD, YOU ARE BOUND BY THIS AGREEMENT AND DISCLOSURE