Valley Credit Union - Disclosures

You have been automatically enrolled in E-Statements. If you do not want to receive E-Statements, please click on the Services tab in VCU@Home and unregister.

You hereby request that electronic fund transfers be allowed through the VALLEY CREDIT UNION VCU@HOME On-Line Service. The use of such On-Line Service shall be governed by the printed terms and conditions of the VCU@HOME On-Line Service Agreement and the Regulation E Disclosure Statement attached along with such other terms and conditions, or amendments thereto, as may be established from time to time by the Credit Union and communicated in writing to you. By agreeing to this application you authorize VALLEY CREDIT UNION to check your credit and employment history and make whatever inquiries the Credit Union deems appropriate in the course of granting access to the VCU@HOME On-Line Service, reviewing its use or cancellation. You understand that the Credit Union will retain this application whether or not it is approved. You also agree that if you are approved, that your agreeing to this VCU@HOME ON-LINE APPLICATION and your use of the VCU@HOME On-Line Service will bind you to all terms and conditions contained in the VCU@HOME On-Line Service Agreement and Regulation E Disclosure Statement and will retain them for your records.

I understand that pursuant to my account and/or loan agreements with Valley Credit Union, I may be entitled to receive periodic account statements in connection with my account, such as savings account statements and loan statements (“Account Statements”). By indicating my acceptance of this application, I authorize Valley Credit Union (“VCU”) to discontinue sending me such periodic Accounts Statements via postal mail service for my account and to instead deliver such periodic Account Statements to me electronically (“E-Statements”). I understand and agree that Valley Credit Union will send me an e-mail on an ongoing basis to My primary e-mail address, as indicated below, notifying me that My E-Statement (s) are ready to be viewed within VCU@Home. I understand and agree that I will no longer receive paper copies of my periodic Account Statements.

EACH PERSON ACCEPTING THIS APPLICATION AND EACH PERSON YOU GIVE THE PASSWORD CAN ACCESS ANY OF THE DESIGNATED ACCOUNT(S) AND OTHERWISE USE THE VALLEY CREDIT UNION ON-LINE SYSTEM.

VCU@HOME ON-LINE BANKING SERVICE AGREEMENT AND CONSENT AND AUTHORIZATION FOR ELECTRONIC TRANSMISSION OF REGULAR ACCOUNT STATEMENTS

1. In this Agreement, the words “you” and “your” mean each person who signs this Agreement. The words “we”, “us”, “Me”, “My” and “our” mean VALLEY CREDIT UNION. The word “Account” means those accounts with us which you may access by use of the On-Line Banking Service. The word "On-Line Service Provider" means CompuServe, America Online, Prodigy or other similar on-line internet service providers as may be offered in the future. The phrases "On-Line Banking Service System" or "On-Line Service" mean the VALLEY CREDIT UNION VCU@HOME ON-LINE BANKING SERVICE SYSTEM that may be accessed by an on-line computer request through which, when used in conjunction with the authorization information stated herein, you may request the Credit Union to conduct transactions or perform services upon your behalf as provided in this Agreement. EACH PERSON SIGNING THE APPLICATION FOR THIS AGREEMENT AND EACH PERSON YOU GIVE THE PASSWORD CAN ACCESS ANY OF THE DESIGNATED ACCOUNT(S) AND OTHERWISE USE THE VALLEY CREDIT UNION ONLINE SYSTEM.

2. By signing this Agreement, you agree that you will be responsible for all transfers made by anyone who uses the On-line Banking Service System to access your account(s) as permitted by law. I am the primary accountholder of the Account indicated below. My electronic signature executed in conjunction with this Consent and Authorization any electronic transaction on this Account shall be legally binding on all owners on the account including myself and such any transaction performed pursuant to this Consent and Authorization transaction shall be considered authorized by me.

3. We will accept computer messages from you using the On-Line Service requesting the Credit Union to process transactions as permitted under this Agreement or as may be provided in the future.

4. We will never contact you on an unsolicited basis to request information concerning your electronic credentials including your User ID, Password or Authentication. Transactions performed on any Account indicated below by electronic means, which contain an electronic signature or where my PIN is utilized shall be considered authorized by me.

5. You agree the services available are listed in the most recently dated On-line Services brochure. You understand the On-Line Service may be used to, among other things, transfer funds between certain Accounts, withdraw funds from certain Accounts, make advances under certain Accounts and make payments to certain Accounts. For any transaction which initiates a withdrawal or loan advance to be sent to you, we will mail the sum requested usually within two business days following the request by way of a draft made payable to you to the most recent mailing address listed on the Account. The available services are subject to change at any time without prior notice to you. When using our current On-Line Services, your transactions may not be "live" i.e. your communication may be reviewed by us later. You understand On-Line Service requests received after 3:00 p.m. (Central Time) generally will not be processed until the next business day. We may send an On-Line Service acknowledgment when your request has been completed or if additional information is needed to complete your request.

6. You agree On-Line Service requests received after 3:00 p.m. (Central Time) generally will not be processed until the next business day. We may send an On-Line Service acknowledgment when your request has been completed (generally within one business day) or if additional information is needed to complete your request.

7. You agree to notify us immediately if you believe your password for the On-Line Service has been used, obtained or compromised in any way. You understand we may suspend your access until a new password has been established with the On-Line Service Provider.

8. You agree we may at any time, in our sole discretion and without notice to you, suspend or terminate your access to the On-Line Service. You may terminate this Agreement in writing to us at any time. The termination or cancellation of the use of the On-Line Service will not affect the liability incurred by you prior to termination or cancellation.

9. Except as changed by this Agreement, account transactions initiated by the use of the On-Line Service are subject to the rules and agreements covering your Accounts with us, including, but not limited to, your VALLEY CREDIT UNION MASTER ACCOUNT AGREEMENT, and this Agreement is made part of and supplemental to those rules and agreements.

10. This Agreement may be changed at any time by mailing a copy of any changes to your last statement address. Changes will be effective on the date that we mail them to you unless we are required by law to give you advance notice. Your use of the On-Line Service after the effective date of any change will acknowledge your acceptance of the change.

11. You agree we assume no liability due to your inability to access the On-Line Service due to communication problems or interruption, equipment failure, or other reasons beyond our control. You agree obtaining on-line internet service is entirely your responsibility. You agree providing a computer to use the On-line System is entirely your responsibility.

12. You agree we accept no responsibility for equipment failure or damage, computer viruses, or software damage which may occur as a result of your use of the On-Line Service. Even though we believe that the On-Line Service will prove to be reliable, the system may not operate properly at all times. We, therefore, do not promise that the On-Line Service will always be available for your use. You will not attempt to make a transfer when the system tells you or other circumstances give you reason to believe that the system is closed or is not operating properly due to a technical malfunction or is otherwise unable to initiate the transaction you desire.

13. You agree you are responsible for all charges assessed by communications companies, local and long-distance telephone companies, on-line internet service providers or other related companies. You understand we do not currently charge a fee for access to the On-Line Service.

14. In order to process your request you agree we may request and you must meet our security requirements to identify authorized users.

15. You will be responsible for all unauthorized transfers made from your Accounts by use of the On-Line Service, subject to the limitations contained in applicable federal law. Those limitations of your liability for unauthorized transfers are summarized in the disclosures accompanying this Agreement. You will tell us at once if you believe unauthorized transfers have been made. The fastest way to notify us is to telephone us at (256)381-4800.

16. You must keep your share account with us open in order for you to use the On-Line Banking Service System.

17. The On-Line Service will be used only for the type of transactions and to have access to only those Accounts that we have approved in advance. If through some error the use of the On-Line Service permits you to withdraw funds from an Account that you should not be allowed to use, we may charge the amount involved to an Account that you can use.

18. The On-Line Service may not be used to overdraw any Account. If you do use the On-Line Service to overdraw an Account, then you will owe us that amount (plus any service charge) immediately and we may, without having to tell you, either take what you owe us from any account you have with us or, if you have a loan with us, treat the overdraft as a request for a loan advance. If the amount you owe us is not paid, we will be entitled to recover that amount along with any costs we incur in collecting it, including reasonable attorney's fees.

19. We have no obligation to monitor how you use the On-Line Service or to notify you if we notice any unusual activity with regards to any of your Accounts which may be accessed by use of On-Line Service.

20. The credit union recommends you periodically review your online account access practices to ensure security, including:

Who has access to your online accounts?
How and where are user names and passwords stored?; and
How strong are your passwords and how often are they changed?

21. The Credit Union recommends its business members to perform a risk assessment and review its electronic/online account controls and passwords periodically.

22. We can delay in enforcing any or our rights under this Agreement without losing them. The fact that we do not enforce our rights in one instance does not mean that we will not do so in another instance.

23. This Agreement and all transactions under this Agreement will be governed by Alabama law and applicable federal law.

24. You hereby acknowledge receipt of a copy of this Agreement and the Regulation E Disclosure statement.

25. If you are suspicious of any account activity or experience a member information security related event, or believe that your User ID, Password or Authentication has been lost or stolen, please contact the Credit Union at 256-381-4800 immediately.

26. My ongoing consent to receive subsequent Account Statements electronically is voluntary and may be withdrawn at any time. I may withdraw consent at any time via unregistration on the VCU@Home website, in writing, by telephone or by sending VCU an e-mail at [email protected] and Subject to VCU’s confirmation of my request, such withdrawal shall become effective no later than fifteen (15) days after receipt by VCU. Upon termination, I understand and agree that I will no longer have access to my account statements online and that I will receive all account statements in paper form via postal mail service. I agree to maintain a valid, active e-mail address. I must promptly notify VCU of any change in my e-mail or postal address by contacting VCU at 1-256-381-4800 or 1-888-295-7125, or at any of VCU’s branch locations. VCU is not liable for any third party-incurred fees, other legal liability, or any other issues or liabilities arising from E-Statements or notifications sent to an invalid or inactive e-mail address or postal address that you have provided.

27. I understand and agree that although I will no longer receive My loan statements by mail, I will be responsible for timely making all regular loan payments either through electronically by accessing VCU@Home, and/or by mailing the payments to: Valley Credit Union, P.O. Box 388, Tuscumbia, AL 35674. I further understand and agree that I will be responsible for making all loan payments pursuant to the terms and conditions of the loan agreements and disclosures which may be revised from time to time and remain effective for all other aspects of the Account involved.

28. I may also request a paper copy of any periodic regular Account Statement. A fee may be charged for any such paper copies, subject to the fee as set forth into VCU’s Schedule of Fees and Charges.

REGULATION E DISCLOSURE STATEMENT FOR VCU@HOME ON-LINE BANKING SERVICE SYSTEM

ACCOUNT ACCESS: You may use the On-Line Banking Service System to initiate any of the following transactions, provided the accounts have been authorized for use. You may make:

• Cash Withdrawals from Shares by check
• Cash Withdrawals from Share Draft by check
• Cash Advances under an existing open end Loan
• Transfers from Share to Share Draft
• Transfers from Share Draft to Share
• Transfers from Share to Loan
• Advances from Loan to Share
• Advances from Loan to Share Draft
• View and Download Transaction History of All Accounts
• Reorder of Personalized Checks
• Bill Payment Services

LIMITATION ON FREQUENCY OF TRANSFERS: For security reasons, there are limits on the number of transfers you can make using the On-Line Banking Service System.

LIMITATION ON DOLLAR AMOUNTS OF TRANSFERS: For security reasons, there are limits on the dollar amount of transfers you can make using the On-Line Banking Service System.

BUSINESS DAYS: Our business days are Monday through Friday. Holidays are not included. The On-Line Banking Service System requests will be honored during these business days.

SUMMARY OF YOUR LIABILITY FOR UNAUTHORIZED TRANSFERS: The error resolution disclosure is a consumer only disclosure. Tell us AT ONCE if you believe unauthorized transfers are being made from your account using the On-Line Banking Service System. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your accounts(s) (plus your maximum overdraft line of credit and open end credit). If you tell us within 2 business days, you can lose no more than $50.00 if someone made transfers without your permission. If you believe unauthorized transfers have been made and you tell us within 2 business days after you learn of the unauthorized transfer, you can lose no more than $50.00 if someone used On-Line Banking Service System without your permission. If you do NOT tell us within two (2) business days after you learn of the unauthorized transfer, and we can prove we could have stopped someone from making unauthorized transfers without your permission if you had told us, you could lose as much as $500.00. Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back 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 told 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. If you believe that someone has transferred or may transfer money from your account without your permission, call (256) 381-4800 or write us at VALLEY CREDIT UNION, P.O. BOX 388, Tuscumbia, Alabama 35674.

REGULATION E PROTECTIONS AND CREDIT UNION SECURITY COVERAGE FOR INTERNET TRANSACTIONS: The Credit Union’s efforts to secure electronic banking does not secure the internet or the transaction of information over the internet. The Credit Union does not provide protection for email transfers or data transfers utilizing your personal computer. The Credit Union shall not be liable for any loss, harm or fraud resulting from the introduction of a computer virus, worm or other malicious code in your computer or access device.

SERVICE CHARGES: Currently, there is no service charge for the On-Line Banking Service System which enables you to make certain electronic fund transfers. However, each account affected by the transaction use of the On-Line Banking Service System will be subject to the regular service charge imposed for that specified account. Additionally, if you have an existing overdraft credit line or open end loan account attached to your checking account, any overdrafts shall be subject to FINANCE CHARGES in accordance with the terms of the applicable agreement.

SUMMARY OF YOUR RIGHT TO RECEIVE DOCUMENTATION OF TRANSFERS: You will get a monthly account statement (unless there are no transfers in a particular month). In any case, you will get the statement at least quarterly.

SUMMARY OF CREDIT UNION'S LIABILITY FOR FAILURE TO MAKE TRANSFERS: If we do not complete a transfer to or from your account on time or in correct amount according to our agreement with you, we will be liable for your losses for damages as required by Federal law. However, there are some exceptions. We will not be liable for, for instance:

• If through no fault of ours, you do not have enough money in your account to make the transfer;
• If the transfer would go over the credit limit on a loan;
• If the system was not working properly, and you knew about the breakdown when you started the transfer;
• If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken;
• If the funds in your account are subject to a court order or other restriction preventing the transfer; and
• There may be other exceptions stated in our agreement with you.

CIRCUMSTANCES UNDER WHICH WE WILL DISCLOSE ACCOUNT INFORMATION TO THIRD PARTIES: The Credit Union will disclose information to third parties about your account or transfers you made:

• When it is necessary to complete the transfers;
• In order to verify the existence and conditions 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; or
• If you give us written permission.

SUMMARY OF OUR ERROR RESOLUTION PROCEDURE IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS: In Case Of Errors Or Questions About Your Electronic Transfers, telephone us at (256) 381-4800 or write us at VALLEY CREDIT UNION, P.O. BOX 388, Tuscumbia, Alabama 35674, as soon as you can, if you think your statement is wrong or if you need more information about a transfer listed on the statement. We must hear from you no later than sixty (60) days after we sent you the first statement on which the problem or error appeared. Your inquiry must include:

• Your name and account number;
• Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information;
• 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 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 we need more time, however, we may take up to forty-five (45) days to investigate your complaint or question. If we decide to do this, we will recredit your account within ten (10) business days 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 question in writing and we do not receive it within ten (10) days, we may not recredit your account. If we decide there was no error, we will send you a written explanation within three (3) business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation.

SUMMARY OF YOUR RIGHT TO STOP PAYMENTS: If you have told us in advance to make regular payments out of your account by use of the VCU@HOME ON-LINE BANKING SERVICE SYSTEM, you can stop any of these payments. Here is how: Call us at (256) 381-4800, or write us at P. O. Box 388, Tuscumbia, Alabama 35674, or use the VCU@HOME ON-LINE BANKING SERVICE SYSTEM in time for us to receive your request three days or more before the payment is scheduled to be made. If you call or use the VCU@Home ON-LINE BANKING SERVICE SYSTEM, we may also require that you put your request in writing and get it to us within 14 days after you call. We will charge you a fee of $33.00 for each stop payment order you give. If these payments vary in amount, the person you are going to pay will tell you within ten days before each payment when it will be made and how much it will be. (You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.). You agree that unless you give the correct Account number, payment amount, and payment number, the Credit Union assumes no responsibility for stopping payment. If the Credit Union credits your Account after making payment over a valid and timely stop payment order, you agree to assist the Credit Union if it takes legal action upon the payment. You agree to hold harmless and indemnify the Credit Union against all claims, costs, attorney’s fees, damages and other expenses or losses which may be incurred by the Credit Union, its employees or agents on account of a stop payment order. If you order us to stop one of these payments 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.