Provident Federal Credit Union

IMPORTANT INFORMATION ABOUT INTERNET BANKING FOR OUR MEMBERS

SERVICE TERMS AND CONDITIONS

The following terms and conditions govern the manner in which Provident Federal Credit Union (Us, We, Our) will provide Virtual Branch Internet Banking to you:

MEMBER SERVICE INFORMATION

Monday, Tuesday, Wednesday & Friday 8:00a.m. to 4:00p.m. Thursday 8:00a.m. to 4:30p.m. After regular business hours, weekends and holidays—all calls are answered by an automated voice mail system.

Mail may be addressed to: Provident Federal Credit Union, 401 S. New Street, Dover, DE 19904.

Fax: 302-734-2683
E-Mail: pfcudover@aol.com
Website: www.providentfcu.com

Service/Rights to Make Transfer, You authorize Us to utilize Electronic Data Systems (EDS) to provide Services to You on Our behalf. We approve the right to refuse to make any payment and/or transfer. Funds will arrive at your targeted account as close as reasonably possible to the date designated by you in your payment and/or transfer instructions (Payment Date). Subject to the terms and conditions of this Agreement. You authorize Us, and any third party acting on Our behalf, to choose the most effective method to process your payments and/or transfer, including without limitation, electronic, paper or some other draft means. For each properly instructed payment to be eligible and/or transfer to a targeted Account, you will receive a transaction Confirmation Number.

The Payment Date indicated by You must always be a Business Day (as defined below). If it is not, The Payment Date will be deemed to be the first Business Day after the date indicated.

LIABILITY, UNLESS YOU RECEIVE A CONFIRMATION NUMBER, WE SHALL NOT BE LIABLE FOR ANY FAILURE TO MAKE A PAYMENT AND/OR TRANSFER, INCLUDING ANY FINANCE CHARGES OR LATE FEES INCURRED AS A RESULT. IT IS ALSO IMPORTANT THAT THE PAYMENT DATE BE ON OR BEFORE THE MERCHANT DUE DATE, NOT THE LATE DATE. SINCE THE TIME FOR US TO PROCESS YOUR PAYMENT VARIES ACCORDING TO THE PARTICULAR MERCHANT, YOU MUST BECOME FAMILIAR WITH THE PAYMENT PROCESSING TIME FOR EACH MERCHANT YOU DESIRE TO PAY, AND ALLOW THE APPROPRIATE NUMBER OF BUSINESS DAYS BETWEEN THE DAY YOU IMPUT YOUR PAYMENT INSTRUCTION AND THE PAYMENT DATE. SUBJECT TO LIMITATION DISCUSSED BELOW, IF YOUFOLLOW THE PROCEDURES DESCRIBED IN THIS AGREEMENT FOR PAYMENTS, AND YOU ARE ASSESSED A PENALTY OR LATE CHARGE, WE WILL REIMBURSE YOU THAT LATE CHARGE UP TO A MAXIMUM OF ONE HUNDRED DOLLARS ($100.00). IN THE EVENT THAT YOU DO NOT ADHERE TO THE OBLIGATIONS SET FORTH IN THIS AGREEMENT, OR YOU SCHEDULE A PAYMENT LESS THAN THE NUMBER OF BUSINESS DAYS BEFORE THE DUE DATE REQUIRED FOR A PARTICULAR MERCHANT, YOU WILL BEAR FULL RESPONSIBILITY FOR ANY CHARGES OR FEES. THE SERVICE ASSUMES NO LIABILITY FOR THE LATE POSTING OR MISAPPLICATION OF PAYMENTS ONCE MERCHANTS RECEIVE FUNDS. THIS ABSENCE OF LIABILITY, HOWEVER, DOES NOT PRECLUDE SERVICE FROM WORKING TO RESOLVE THESE TYPES OF ISSUES WHEN THEY ARISE. IF REQUIRED WE WILL BE RESPONSIBLE FOR PROVIDING PROVISIONAL CREDIT IF PAYMENT DISPUTES THIS ACTION.

LIMITATIONS, Under no circumstances will We be liable if We are unable to complete any payment requests and/or transfers initiated in a timely manner via the Services because of the existence of any one or more of the following circumstances:

  1. You do not obtain Confirmation at the time You initiate a payment/or transfer.
  2. The designated Account does not contain sufficient funds to complete the payment and/or transfer.
  3. You have closed the designated Account.
  4. We have identified You as a credit risk and have chosen to (I) make all payments and/or transfers initiated by You via the Service utilizing a paper, as opposed to electronic, method, or (ii)terminate Your subscription to the Service.
  5. The Service, Your equipment, the software, or any communications link is not working properly and You know or have been advised by Us about the malfunction before You executed the transaction.
  6. You have not provided Us with the correct information for those Accounts to which you wish to make a transfer.
  7. Circumstances beyond Our control (such as, but not limited to, fire, flood, or interference from an outside source) prevent the proper execution of the transaction and we have taken reasonable precautions to avoid these circumstances.
  8. The merchant mishandles or delays handling payments sent by us.

WE ARE NOT RESPONSIBLE FOR ANY OTHER LOSS, DAMAGE OR INJURY, WHETHER CAUSED BY YOUR EQUIPMENT OR SOFTWARE, THE SERVICE, OR ANY TECHNICAL OR EDITORIAL ERRORS CONTAINED IN OR OMISSIONS FROM ANY USER GUIDE OR BROCHURE RELATED TO THE SERVICES, WE SHALL NOT BE RESPONSIBLE FOR ANY DIRECT, INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGE ARISING IN ANY WAY OUT OF THE INSTALLATION, THE USE OR THE SERVICES, EXCEPT WHERE THE LAW REQUIRES A DIFFERENT STANDARD.

STOP PAYMENT/PAYMENT CANCELLATION/MODIFICATION, Except for those transfers, which are completed immediately, You may cancel or modify a payment and/or transfer up to 2:00p.m. Eastern Time the same Business Day you scheduled for a payment/transfer.

CARE OF YOUR SECURITY AND SECURITY, You agree that you will not give your Services Security Code or make it available to any other person. If you believe that your Security Code has been lost or stolen, or that someone has made payments and/or transfers using your Security Code without your permission, notify Us IMMEDIATELY by phone any time during our regularly scheduled hours of operation or send an electronic message through the Services to Us.

IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS, Contact Us as soon as possible if you think a payment and/or transfer listed on your statement is in error or if you need more information about a payment and/or transfer listed on your statement. We must hear from you no later than sixty (60) days after you receive the first statement on which the problem or error appeared.

When you call or write you must:

  1. Tell Us your name and User ID.
  2. Describe the payment and/or transaction you are unsure about including account information, transaction date, and transaction amount, and explain as clearly as you can why you believe it is an error or need more information. If possible, please provide Us with the Confirmation Number for each transaction.
  3. Tell Us the dollar amount of the suspected error. If you tell Us orally, or by using the Services’ electronic mail, We may require that you send your complaint in writing within ten (10) Business Days after We receive your complaint. 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 We need more time, We may take up to forty-five (45) days to investigate the complaint or questions. If We decide to do this, We will recredit your account within ten (10) Business Days after We hear from you for the amount you believe is in error allowing you to have use of the money during the time it takes 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 recredit your account.

If We decide that there was no error, We will mail or transmit a written explanation with three (3) Business Days of the date of such explanation. We will debit your account of the amount previously recredited to you for use during the time we took to complete Our investigation.

Charges, Provident Federal Credit Union reserves the right to charge a monthly service fee. You will be notified, in writing, thirty (30) days prior to any such charge. At such time, you will be charged a monthly fee for the services plus any applicable sales and use taxes. You may pay all service charges from a designated Account. In the event of your failure to timely pay Us, you authorize Us to effect an automatic payment from one of your accounts by electronic, paper, or other means.

In the event We are unable to process a Service transaction, (if, for example, there are insufficient funds in your designated account) the transaction will result in a “Failed Payment and/or Transfer.” We reserve the right to suspend your subscription the Services. The suspension may be without prior notice to you. If your subscription is suspended, transactions that were previously initiated may still continue to be processed unless canceled and confirmation of such cancellation is provided as specified below. Suspensions will be handled by the Credit Union, and all inquiries and correspondence relating thereto including requests for reimbursement should be directed to the Credit Union. In the event your subscription is suspended, We will notify you by mail to your address of record. With respect to any Failed Payment and/or Transfer, you agree to reimburse Us within fourteen (14) days after the notice is sent to you, for any funds We have already paid to one or more of your designated Accounts which we are unable to recover by debit or charge to You.

Fee Schedule, You agree to pay published by Us from time to time.

Additional terms and Conditions,

  1. In addition to the foregoing, you agree to be bound by and comply with the requirements of the information provided and applicable state and federal laws and regulations. We agree to be bound by them also.
  2. We reserve the right to terminate your use of the Services, in whole or in part, at any time without prior notice.
  3. You cancel your subscription to the Services, upon thirty (30) days prior notice to the Credit Union. You will be responsible for all payments and/or transfers you have requested prior to termination and for all charges, fees, and taxes incurred.

    4. BE SURE TO CANCEL ALL OUTSTANDING PAYMENTS AND/OR TRANSFERS WITHIN THE THIRTY (30) DAY NOTIFICATION PERIOD. WE WILL NOT BE LIABLE FOR PAYMENTS AND/OR TRANSFERS NOT CANCELLED OR MADE TO YOUR ACTIONS RELATED TO SERVICE TERMINATION.

  4. These terms and conditions and all information provided to you and nay applicable Service Fees and charges may only be altered or amended by Us. In the event, We shall send notice to you at your address on record or transmit notice of alteration or amendment over the Services. Your use of the Services following receipt of such notice constitutes acceptance of such alterations or amendments.
  5. In the event of a dispute regarding Services, You and We agree to resolve this dispute by looking to these Terms and Conditions. These Terms and Conditions shall supersede any and all other representations made by You or Our employees.
  6. These Terms and Conditions shall be governed by and construed in accordance with the laws of the State of Delaware.
  7. Business Days are Monday through Friday excluding normal Credit Union holidays.

Right to Receipt, According to the Federal Reserve Board Official Staff Commentary, (OSC) 205.7(a)-4. Financial institutions must ensure, that consumers who sign up for a new banking service, are provided with disclosures for new service if the service is subject to terms and conditions different from those described in the initial disclosure requirement under 205.7.

The OSC clarifies that, terminal receipts are necessary for transfers, initiated on-line. Specifically, OSC 202.2(h)-1 provides that, because the term, “electronic terminal” excludes a telephone operated by a consumer, financial institutions need not provide a terminal receipt, when a consumer initiates a transfer by a means analogous in function to a telephone, such as by a personal computer or facsimile machine.

Disclosures, I hereby acknowledge receipt of the disclosure state informing me of my rights under the Electronic Fund Transfer Act and a copy of this agreement.



Dear Credit Union Member:

Thank you for signing up for our Virtual Branch online banking service. To reach your account information, go to our website at:

www.providentfcu.com

  1. Click on the [Products & Services icon] tab at the top left of the homepage.
  2. Click on the [On-Line Account Access icon] button at the top to reach the Virtual Branch User Logon page.
  3. Fill in under Logon ID: Social Security Number (No dashes).
  4. Click on the OK button.
  5. Fill in under Security Code: pfcu1234 (It must be changed or you will be locked out after 3 tries.)

If you have any questions, please call us at (302) 734-1133 during our normal business hours.