INTERNET BANKINGEND USER AGREEMENT AND DISCLOSURE STATEMENTMERCO CREDIT UNION
This Agreement establishes the rules that cover your electronic access to your account(s) at MERCO Credit Union (“Credit Union”) through the Internet Banking system. You will be bound by this Agreement when you enroll in Internet Banking. You also accept all the terms and conditions of this Agreement by using the Internet Banking. Please read it carefully and retain for your records.
This Agreement is also subject to applicable federal laws and the laws of the State of California (except to the extent this Agreement can and does vary from such rules or laws). If any provisions of this Agreement are found unenforceable or invalid, all remaining provisions will continue in full force and effect. The headings in the Agreement are for convenience or reference only and will not govern the interpretation of the provisions. Any waiver (express or implied) by either party or any default or breach of this Agreement must be in writing and shall not constitute a waiver of any other or subsequent default or breach. You may not assign this Agreement. This Agreement is binding upon your heirs and the Credit Union’s successors and assigns. Certain of the obligations of the parties pursuant to this Agreement that by their nature would continue beyond the termination, cancellation, or expiration of this Agreement shall survive termination, cancellation, or expiration of this Agreement. This Agreement, together with the Membership and Account Agreement constitutes the entire agreement between you and the Credit Union with respect to the subject matter hereof and there is no understanding or agreements relative hereto which are not fully expressed herein.
The words “you”, “your”, and “yours” refer to the MERCO Credit Union member(s) jointly and severally. The words “we”, “us”, “our”, “ MERCO” and “Credit Union” refer to MERCO Credit Union. This Agreement and Disclosure Statement (hereinafter “Agreement”) explains and describes the types of Electronic Funds Transfers which are available to you with our Internet Banking system. This Agreement also contains your rights and responsibilities concerning transactions that you make through the Internet Banking, including your rights under the Electronic Funds Transfer Act.
To qualify for access to the Internet Banking, you must be a Credit Union member in good standing. The Internet Banking may not be accessible to Business and Organizational accounts. Other conditions may apply.
The Internet Banking system is provided as a service of MERCO Credit Union and permits access to member account information and with proper authentication allows account transactions to be conducted. By accessing the Credit Union’s Internet Banking system you verify that you are the account holder or you have full legal authority granted by the legal account holder to obtain information and conduct transactions.
You are responsible to make sure that you keep your account number and personal identification number (PIN) secure and do not disclose (or allow them to be disclosed) to any person who is not authorized to obtain account information or conduct transactions on your account. . If you have reason to believe that the account number or PIN has been disclosed to or obtained by an unauthorized person, you are required to immediately notify MERCO Credit Union as outlined in paragraph 5 below.
In order to use the Credit Union’s Internet Banking system you must use browser software which utilizes appropriate security protections with a minimum 128-bit encryption. If you fail to use browser software without the minimum encryption level, MERCO Credit Union and any other entities involved in the design, development or operation of the Internet Banking system will not be responsible for any loss, expense, injury, cost or damage that may result from access obtained to account information or transaction conducted on any account unless otherwise provided by law.
When connected to or using the Internet Banking system, you are required to ensure that no unauthorized persons have access to your computer. If you fail to maintain direct control and supervision over your computer or otherwise fail to ensure that no unauthorized persons have access to your computer when connected to or using the Credit Union’s Internet Banking system, MERCO Credit Union and any other entities involved in the design, development or operation of the Internet Banking system will not be responsible for any loss, expense, injury, cost or damage that may result from access obtained to account information or transaction conducted on any account unless otherwise provided by law.
By indicating your acceptance of this agreement, you acknowledge that you have read the terms of this agreement and that you agree to be bound by these terms including the provisions which state that MERCO Credit Union and any other companies or entities involved in the design, development or operation of the Credit Union’s Internet Banking system are not responsible for any loss, expense, injury, cost or damage resulting from any access obtained to account information or any transactions conducted on the account. Further, you understand that by accepting this agreement, the current date will be logged as part of your account records and that the Credit Union’s Internet Banking system will be activated for your account.
ENROLLING FOR INTERNET BANKING
The member Account Number and PIN are required for initial enrollment to Internet Banking.
Users will create a personalized Logon ID and Security Code.
Logon IDs can be between 6 and 50 alpha numeric characters.
Security Codes must have a minimum of 8 alpha-numeric characters. A minimum of 2 numeric and 2 alpha characters is required.
You accept responsibility for periodically changing your Logon ID and protecting the integrity of the Logon ID to protect unauthorized transactions and account access. Granting access to your account via Internet Banking to any non-owner will make you financially liable for all losses or misuse of your account(s).
You may reach Internet Banking at http://www.merco.org. You can use Internet Banking 7 days a week, 24 hours a day, 365 days a year, although some or all of the Internet Banking services may not be available occasionally due to emergency or scheduled system maintenance. The use of your Logon ID is required to access Internet Banking. You can perform the following transactions on ALL ACCOUNT(S) TO WHICH YOU ARE AUTHORIZED AND HAVE BEEN GIVEN ACCESS TO:
- Obtain balances and other account information on share/savings and draft/checking accounts in addition to share certificates, IRAs, and loans. Internet Banking may NOT support information regarding Visa® credit card accounts.
- Make transfers between share/savings, draft/checking, and loan accounts.
- Transfer advances from your personal line-of-credit loan to share accounts.
- Review 200 days of share/savings history, 90 days of draft/checking history, 18 months of certificate history, and 18 months of open end loan history.
- Make transfers from your share accounts to other share accounts at MERCO in which you have an ownership interest.
- View check copies and re-order checks.
LIMITATIONS ON TRANSFERS.
The maximum online withdrawal amount is $10,000.
Online banking transfers out of share accounts count toward the six-per-month limit on withdrawals from non-transaction accounts made by means other than the following: ATM, in-person, mail, messenger, or by telephone request to mail a check to an owner of the account. MERCO Credit Union money market type accounts are limit to three monthly withdrawals. Other withdrawal limits may also apply. Refer to your MERCO Credit Union publication About Your Credit Union Accounts for more information about transaction limit and penalties for exceeding withdrawal limits on share and money market accounts.
Internet Banking requests to withdraw money from non-checking accounts will not be honored if the accessed account does not contain enough money to cover the transaction.
If an Internet Banking withdrawal transaction accesses a MERCO checking (share draft) account when there insufficient funds to cover the transaction, the following rules will apply: (a) If you have established a MERCO line of credit or share savings account as an overdraft protection source, and your designated overdraft protection source has available credit or funds to pay the transaction, it will be paid and any interest and/or fees disclosed in the applicable credit or account agreement will be assessed. If you have established more than one overdraft protection source, MERCO can decide which source to access to cover the transaction. (b) If you have not established any overdraft protection source, MERCO can, at its discretion, pay the transaction or decline it for insufficient funds. The fees for paying or declining online banking payment transaction requests submitted against insufficient funds are disclosed [say where].
If we allow any Online Banking transaction that causes a negative balance in any of your accounts or causes you to exceed your credit limit on a line of credit you have linked to the account for overdraft protection, you agree to pay on demand the negative balance and/or over-limit amount.
We also will refuse to complete your Internet Banking transactions if we have canceled your Internet Banking access, or we cannot complete the transaction for security reasons. Full disclosure about accounts and specific transaction limits is contained in the Credit Union’s Truth in Savings brochure About Your Credit Union Accounts.
The functions and limitations of Internet Banking may be updated, without notice, at the option of the Credit Union in order to provide improved service to the membership.
FEES FOR INTERNET BANKING.
Currently MERCO does not charge fees for use of Internet Banking or any of its features. If we implement any fees, we will give any you notice required by law prior to doing so If at that time, you choose to discontinue using Internet Banking, you must notify us in writing.
Your periodic statement will identify each electronic transaction. You will receive a monthly account statement for each month in which you initiate electronic transactions.
IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS.
In case of errors or questions about electronic transfers, telephone us at the number below, E-mail us at merco.org , or send us a written notice to the address below as soon as possible. We must hear from you no later than sixty (60) days after we sent the first statement on which the problem appears.
209-723-4285 or 800-273-4993
MERCO Credit Union
Attention: Internet Banking
P.O. Box 2955, Merced, CA 95344
- Tell us your name and member number.
- 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.
- 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 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. 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. 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. 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 FOR UNAUTHORIZED TRANSACTIONS.
You will be liable for unauthorized access to accounts via Internet Banking 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. You may telephone us at 209-723-4285 or 800-273-4993 , E-mail us at merco.org , or mail to MERCO Credit Union Attention: Internet Banking P.O. Box 2955, Merced, CA 95344 . 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 will extend the time periods.
Transactions That Are Not Completed.
If we fail to complete a transfer to or from your designated account(s) on time, in the correct amount, and we have agreed to perform it, with certain exceptions, we will be liable for your losses or damages. This agreement lists a number of situations in which we do not agree to complete withdrawals or transfers. We also will not be liable:
- If we have terminated this Agreement.
- If through no fault of ours, you do not have enough money in your account(s) to make the transfer.
- A legal order directs us to prohibit withdrawals from the account(s).
- The funds in your designated account(s) are subject to legal process or other encumbrance restricting the transaction.
- If circumstances beyond our control (such as fire or flood prevent the transaction from being completed despite reasonable precautions that we have taken.
- You have reported an unauthorized use of your Member Number and Password, reported it as stolen, or requested that we issue a new Password, and has as a result refused to honor the original Password.
- If your account is closed, frozen or funds are uncollected.
- If you, or anyone authorized by you, commits any fraud or violates any law or regulation.
- If the transfer would cause your balance to become negative or exceed the credit limit of an established line of credit loan.
- If any part of the Internet Banking is not working properly and you knew about the problem when you started the transactions.
- There may be other exceptions as provided by applicable law.
Information About Your Designated Accounts.
You authorize us to obtain any information deemed necessary to process your request for access to Internet Banking. 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.
You may not use Internet Banking to enter into pre-authorized payment arrangements.
OUR RULES AND REGULATIONS AND OTHER AGREEMENTS.
Your designated account(s) may also be governed by other agreements between you and us. The terms and conditions of the deposit agreements and disclosures for each of your Credit Union account(s) as well as your other agreements with the Credit Union such as loans continue to apply notwithstanding anything to the contrary in this Agreement.
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.
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 Internet Banking 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.
CHANGING THIS AGREEMENT.
We may change any term of the Agreement at any time. If the change will adversely affect you, we will give you advance notice required by law 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. Your continued use of any or all of the subject system services indicates your acceptance of the change in terms.
All notices from us will be effective when we have mailed them or delivered them to the last known address in the Credit Union’s records. Notices from you will generally be effective once we receive them at MERCO Credit Union, Attention: Internet Banking P. O. Box 2955, Merced, CA 95344. Notices under Section 6 will be effective once you have done whatever is reasonably necessary to give us the information we need, such as by telephoning us.
If we ever have to file a lawsuit to collect what you owe us, you will pay our reasonable expenses, including attorney’s fees.
This Agreement is governed by the Bylaws of the Credit Union, federal laws and regulations, and the laws and regulations of the state of California. Any disputes regarding this Agreement shall be subject to the jurisdiction of the court of the county in which the Credit Union is located.