ELECTRONIC FUNDS TRANSFER AGREEMENT AND DISCLOSURE

This Electronic Funds Transfer Agreement and Disclosure (“Agreement”) is the contract which governs the rights and responsibilities of both parties regarding electronic funds transfer services offered by us. “Account” means any one or more of your savings, money market, and checking account(s) you have with us. Electronic funds transfers are electronically-initiated transfers of money from or to your account through the various services described below. By signing an application or account card for EFT services, or by accessing any service, you agree to the terms and conditions in this Agreement, and amendments thereto, and any other agreements that may govern your accounts. We may refuse any transaction which would draw upon insufficient funds, lower an account below any required minimum balance, exceed a credit limit, or otherwise require us to increase our required reserve on an account.

TYPES OF ELECTRONIC FUND TRANSFER SERVICES

If approved, the following describes the services that are available, and some limitations that apply:

Digital Banking.
We offer a Digital Banking service that you may access from a personal computer, smart phone, or other device that has Internet access. You will need your assigned password and member number or user name to access your accounts, as instructed when you log on. You may use this service for the following:

  • Withdraw funds from your accounts
  • Make deposits to your accounts by transfer
  • Make transfers between your accounts
  • Obtain balance information on your accounts
  • Make payments on your Credit Union loans from your accounts
  • Access internet bill pay services to make payments to various creditors
  • Verify whether a check or other item has cleared your account
  • Take an advance from a line of credit account
  • Obtain tax information on amounts earned on applicable accounts
  • Obtain information on interest paid on loan accounts
  • Change your password
  • Receive account statements and notices regarding your accounts on-line or via e-mail
  • Update your personal contact information
  • Send secure emails to us by clicking on “contact us by email” or click on “live chat” and we have verified your identity
  • Access or utilize other services that we may make available to you from time to time

Our Digital Banking service will be available to you 24 hours a day, but may be interrupted for a short period of time each day for data processing. Security protocols will be in place, such as electronic lock-out if there are numerous unsuccessful attempts to enter a transaction, and limits on the duration of access. See the Transfer Limitations provision for transfer limitations that apply to Digital Banking transactions. Other EFT Disclosures contained in this document apply to Digital Banking services as well. You will also be required to comply with instructions and agreements provided on-line when you log onto the Digital Banking service.

Illegal Transactions: You shall not use your funds to make any illegal transaction as determined by applicable law. We may decline any transaction that we believe to be illegal, including but not limited to any transaction involving or relating to any gambling activity. We will have no liability or responsibility for any such use or for declining any such transaction. You further agree to indemnify and hold us harmless from any suits, liability, damages or adverse action of any kind that results directly or indirectly from such illegal use.

Joint Accounts: If any of your accounts accessed under this Agreement are joint accounts, all joint owners including any authorized users, shall be bound by the terms and conditions of this Agreement. You understand and agree that any joint owner you authorize to use an access code may withdraw or transfer funds from any one of your accounts without your prior notice or permission, and we will not be liable to you in any way. Each of you jointly and severally shall be responsible for any and all transactions under this Agreement regardless of which owner accessed the accounts or used the services. Each joint account holder is authorized to act for the others, and we may accept orders and instructions regarding any transaction on any account from any owner. We can refuse to follow conflicting instructions.

BUSINESS DAYS

Our business days are Monday through Friday. Holidays are not included.

DISCLOSURE OF YOUR INFORMATION

We will disclose information to third parties about your account or the transfers you make:

  1. Where it is necessary for completing transfers;
  2. In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant;
  3. In order to comply with government agency or court orders;
  4. If your account is eligible for emergency cash and/or emergency card replacement services, and you request such services, you agree that we may provide personal information about you and your account that is necessary to provide you with the requested service(s); or
  5. If you give us your written permission.

RIGHT TO RECEIVE DOCUMENTATION

Periodic Statements: Transfer and withdrawal transactions made through Digital Banking, or preauthorized transfer will be reflected on your periodic statement. You will receive a monthly statement unless there are no transfers in a particular month. In any case we will provide a statement at least quarterly.

OUR LIABILITY FOR FAILURE TO MAKE TRANSFERS

  • If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:
  • If, through no fault of ours, you do not have enough available funds in your account to make the transfer.
  • If the funds in your account are pledged as collateral for a loan or frozen because of a delinquent loan or other reason.
  • If the transfer would go over the credit limit on your overdraft line.
  • If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
  • If the money in your account is subject to legal process or other claim.
  • If you have bill payment services, we can only confirm the amount, the participating merchant, and date of the bill payment transfer made by the Credit Union. For any other error or question you have involving the billing statement of the participating merchant, you must contact the merchant directly. We are not responsible for investigating such errors.
  • Any other exceptions stated in any of our agreements with you or which may be amended in the future.

BILLING ERROR RESOLUTION (does not apply to international remittance transfers):

In case of errors or questions about your electronic transfers, contact us at the number or address listed below as soon as you can and include the information listed below. We must hear from you no later than 60 days after we sent the first statement on which the problem or error appeared.
By Telephone: (865) 688-9555 or (800) 676-5328
By U.S. Mail: P.O. Box 365, Oak Ridge, TN 37831

  • Tell us your name and account number (if any).
  • 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.
  • Tell us the dollar amount of the suspected error.

If you tell us verbally, we may require that you send us your complaint or question in writing within 10 business days. We may require you to provide your complaint in the form of an affidavit. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, we may take up to 45* days to investigate your complaint or question. If we decide to do this, we will provisionally credit your account within 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 10 business days, we may not credit your account. We will inform you of our results within 3 business days after completing our investigation. If we decide no error has occurred, we will reverse the provisional credit to your account and provide a written explanation. You may ask for copies of the documents that we used in our investigation.


*For errors involving new accounts, point of sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question.
** For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.