Bill Pay and Electronic Funds Transfers Disclosures (below)

BILL PAYING AGREEMENT/DISCLOSURE

 This is your bill paying agreement with College Credit Union.
 
You may use COLLEGE CREDIT UNION'S bill paying service, iPAY, to direct  
COLLEGE CREDIT UNION to make payments from your designated checking account to  
the "Payees" you choose in accordance with this agreement. The terms and conditions of  
this agreement are in addition to the account agreements, disclosures and other documents  
in effect from time to time governing your account (The Account Rules).
 "You" or "Your" means each person who is authorized to use the  
service. "Payee" means anyone, including the Credit Union, you designate and the Credit  
Union accepts as a "Payee".
 
HOW TO SET UP PAYEES/PAYMENTS
* If you want to add a new "PAYEE", select the "Payee" tab located in your Bill  
Pay application or speak to a service representative.
* You may add a new fixed payment to a "Payee" by accessing the service and  
entering the appropriate information. Most other additions, deletions, or changes can be  
made in writing or by using the service.
* The Credit Union reserves the right to refuse the designation of a "Payee" for  
any reason.
* You may pay any "Payee" with-in the United States (including U.S. territories  
and APO's / AEO's).
* The Credit Union is not responsible for payments that can not be made due to  
incomplete, incorrect, or outdated information.
 
THE BILL PAYING PROCESS
 Single Payments - a single payment will be processed on the business day  
(generally Monday through Friday, except certain holidays) that you designate as the  
payment's process date, provided the payment is submitted prior to the daily cut-off time on  
that date. The daily cut-off time, which is controlled by the Credit Union, is currently 2:00  
PM Eastern.
 A single payment submitted after the cut-off time on the designated process date  
will be processed on the next business day. If you designate a non-business date  
(generally weekends and certain holidays) as the payment's process date, the payment will  
be processed on the first business day following the designated process date.
 Recurring Payments - When a recurring payment is processed, it is automatically  
rescheduled by the system. Based upon your selected frequency settings for the payment,  
a process date is calculated for the next occurrence of the payment. If the calculated  
process date is a non-business date (generally weekends and certain holidays), it is  
adjusted based upon the following rules:
* If the recurring payment's "Pay Before" option is selected, the process date for  
the new occurrence of the payment is adjusted to the first business date prior to the  
calculated process date.
* If the recurring payment's "Pay After" option is selected, the process date for  
the new occurrence of the payment is adjusted to the first business date after the calculated  
process date.
Note: If your frequency settings for the recurring payment specify the 29th,  
30th, or 31st as a particular day of the month for processing and that day does not exist in  
the month of the calculated process date, then the last calendar day of that month is used  
as the calculated process date.
 
SINGLE AND RECURRING PAYMENTS
 The system will calculate the Estimated Arrival Date of your payment, this is only  
an estimate, please allow ample time for you payments to reach your "Payees".  

CANCELING A PAYMENT
 A bill payment can be changed or canceled, anytime prior to the cutoff time on  
the scheduled process date.
 
AVAILABLE FUNDS
 You agree to have available and collected funds on deposit in the account you  
designate in amounts sufficient to pay for all bill payments requested, as well as, any other  
payment obligations you have to the Credit Union.
 
* The Credit Union reserves the right, without liability, to reject or reverse a bill  
payment if you fail to comply with the above requirement or any other term of this  
agreement.
* If you do not have sufficient funds in the account and the Credit Union has not  
exercised its right to reverse or reject a bill payment, you agree to pay for such payment  
obligations on demand.
* You further agree the Credit Union, at its option, may charge any of your  
accounts with the Credit Union to cover such payment obligations.
 The Credit Union reserves the right to change the cut-off time. You will receive  
notice if it changes.
 
LIABILITY
 * You are solely responsible for controlling the safekeeping of and access to,  
your Personal Identification Number (PIN).
* If you want to terminate another person's authority, you must notify the Credit  
Union and arrange to change your PIN.You will be responsible for any bill payment request  
you make that contains an error or is a duplicate of another bill payment.
* The Credit Union is not responsible for a bill payment that is not made if you  
did not properly follow the instructions for making a bill payment.
* The Credit Union is not liable for any failure to make a bill payment if you fail  
to promptly notify the Credit Union after you learn that you have not received credit from  
a "Payee" for a bill payment.
* The Credit Union is not responsible for your acts or omissions or those of any  
other person, including, without limitation, any transmission or communications facility, and  
no such party shall be deemed to be the Credit Union's agent.
* In any event, the Credit Union will not be liable for any special, consequential,  
incidental, or punitive losses, damages, or expenses in connection with this agreement or  
the service, even if the Credit Union has knowledge of the possibility of them.
* The Credit Union is not liable for any act, failure to act or delay in acting if it is  
caused, in whole or in part, by any cause beyond the Credit Union's reasonable control.
 
AMENDMENT TERMINATION
 The Credit Union has the right to change this agreement at any time by notice  
mailed to you at the last address shown for the account on the Credit Union's records, by  
posting notice in branches of the Credit Union, or as otherwise permitted by law.
 
* The Credit Union has the right to terminate this agreement at any time.
* You may terminate this agreement by written notice to the Credit Union.
* The Credit Union is not responsible for any fixed payment made before the  
Credit Union has a reasonable opportunity to act on your termination notice.
* You remain obligated for any payments made by the Credit Union on your  
behalf.
 
SERVICE FEES
  The fee for the Bill Paying Service is free for checking account holder with  
COLLEGE CREDIT UNION
 
Miscellaneous Product Fees
 * Overnight Fee: $14.95
* 2nd Day Fee: $9.95 Standard or $4.95 Economy
* Charitable Donations: $1.99
* Gift Pay: $2.99

Electronic Funds Transfers

The College Credit Union Debit Card offers additional services that give you greater versatility for managing your financial needs. You may use your Debit Card to pay for goods and services at any merchant where VISA is accepted. The purchase is deducted from your checking account. Also, this card can be used as an ATM card. The following is a disclosure statement made in compliance with certain disclosure requirements imposed on financial institutions by the Electronic Funds Transfer Act and Regulation E of the Federal Reserve Board which applies to consumers only.

Personal Identification Number (PIN)

Upon receipt of your card and Personal Identification number (PIN), you are required to sign your name on the signature panel on the back of the card. You are responsible for the proper control and safekeeping of your card and PIN at all times. We must be notified immediately if you believe your card has been lost or stolen or if a transfer of funds has been made without your permission. For your protection you should keep your PIN secret and not write it on the card or keep it any place where it may be found with the card. You agree not to disclose your PIN or allow your card to be used by any third party. In the event that you do so, the credit union may cancel your card and terminate this Agreement and you will be responsible for all charges incurred by such third parties.

Limitations of Transactions

For security reasons, there are limitations on the dollar amounts of transactions. Cash withdrawals at an ATM machine are limited to $300 per day. Retail purchases, including point-of-sale transactions where you utilize your PIN, are limited to $2,500 outstanding at any time.

Types of Transactions

You may use your Debit Card at automated teller machines (ATM) and VISA merchants throughout the country. However some of these functions may not be available at all terminals.

• ATM cash withdrawals with card and PIN
• ATM transfer of funds between checking and savings
• ATM obtain account balance
• Retail purchases at VISA merchants

Foreign Transactions

Purchases made in foreign countries and foreign currencies will be billed to you in U.S. dollars. The conversion rate to dollars will be made in accordance with the operating regulations for international transactions established by Visa.

Documentation

When you complete an ATM transaction, you will generally receive the following information on a receipt?amount of money withdrawn, date of transaction, type of transaction, identity of the account, location of terminal, transaction number and card number. You have a right to get a receipt at the time you have a transaction in a retail establishment. You will get a monthly account statement for your checking account. Your monthly account statement will indicate your Debit Card transactions, as well as any fees incurred as a result of using your Debit Card.

Disclosure of Charges

A $5.00 fee may apply on cards reissued due to negligence on the part of the cardholder. In general, a card transaction is treated the same as any other withdrawal or deposit, unless otherwise stated in the account description. For other charges related to your specific account, please refer to a current Truth in Savings-Deposit Account Disclosure. The Credit Union reserves the right to make future changes in checking account and/or Debit Card service charges.

Account Information Disclosure

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

• To complete transfers as necessary;
• To verify the existence and condition of your account for a third party, such as
  a credit bureau or a merchant;
• To comply with government agencies or court orders;
• To anyone using your Debit Card and Personal Identification
  Number (PIN);
• To anyone who has your written permission.

Credit Union's Liability

If we do not complete a transfer to or from your account on time or in the correct amount according to your instructions, we may 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 money in your account to
  make the transfer;
• If the ATM where you are making a withdrawal or transfer does not have
  enough cash;
• If you used the wrong PIN, or you used an ATM/POS (point-of-sale) in an
  incorrect manner;
• If circumstances beyond our control (such as fire or flood) prevent the transfer;
• If the money in your account is subject to legal process or other encumbrance;
• If your card has been revoked due to excessive insufficient fund transactions, notice from you of suspected fraud, or other such circumstances;
• There may be other exceptions stated in our agreement with you. The credit union may be liable for damage where it failed to properly credit deposits, subject to the normal policies and procedures of the credit union; and where the credit union failed to stop-payment of an item, subject to the normal policies and procedures of the credit union. However, under no circumstances shall the credit union be liable for damages where the error or failure is beyond our control and the credit union exercised due care, according to industry standards, where there was a technical or mechanical malfunction, or when you have been negligent in the care, custody, control or use of your card or PIN.

Cardholder's Liability

Contact the credit union immediately if you believe your Debit Card or PIN is lost or stolen. An immediate phone call is the best way to reduce any possible losses. VISA offers a Zero Liability policy if you report the loss or theft of your card within two (2) business days. Additional limit on liability for VISA Debit Card: unless you have been negligent or have engaged in fraud, you will not be liable for any unauthorized transactions using your lost or stolen VISA Debit Card. This additional limit on liability does not apply to ATM transactions, to transactions using your Personal Identification Number which are not protected by VISA, or to commercial cards. This means 100% protection for you, guaranteeing you maximum protection against fraud. You have complete liability protection for all your card transactions that take place on the VISA network. Should someone steal your card number while you are shopping online or off, you are protected?you pay nothing for the fraudulent activity? If you do NOT notify the credit union within two (2) business days your liability is limited to no more than $50.00. ATM liability is limited to no more than $50.00 if you report the theft of your card or PIN within two (2) business days (if applicable). An immediate phone call is the best way to reduce any possible losses. You could lose all the money in your account (plus your maximum overdraft line of credit, (if you have one). If you do NOT notify the bank within two (2) business days your liability could be as much as $500.00. Also, contact the credit union immediately if your checking account statement lists transactions that you did not make. If you do not notify the credit union in writing within sixty (60) days after the statement mailing date, you may not be reimbursed for the unauthorized withdrawals.

Your debit card shall at all times be understood to be the property of the Credit Union. As such, in the event that we believe your card or PIN has been subject to abuse or misuse, you violate the terms of your Agreement with us or you engage is card activity which we believe to be illegal or could subject the credit union to a loss, we may cancel your card and terminate your debit card privileges at any time.

Error Resolution

Please review your checking account statement carefully. If it lists any Debit Card transactions you did not make, notify us immediately. If you do not notify us in writing within 60 days after the statement mailing date, where the error first appeared, you may not be reimbursed for the withdrawal or charge. The minimum amount of information required to be in your notification is your name, account number and a description of the transaction in question. Your transaction description should include the amount, date and a clear explanation of why you believe it is an error or why you need more information. If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days (20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly if the transaction involved a point-of-sale transaction, or a foreign initiated transfer. If we need more time, however, we may take 90 days to investigate your complaint or question. If we decide to do this, we will provisionally credit your account within 10 business days (20 business days if the transfer involved a new account) for the amount you think is in error so that you will have the provisional 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. An account is considered a new account for 30 days after the first deposit is made, if you are a new customer. We will tell you the results within a reasonable time after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation ? fees may apply.

(CCU updated 07/07)