Electronic Banking Agreement

This Electronic Banking Agreement (“Agreement”) states the terms and conditions that apply to our Internet Banking, Mobile Banking and Bill Pay services (“Service”). Accessing the Service site(s) or viewing any of its content shall constitute your acknowledgement of and agreement with these terms and conditions. These terms and conditions are in addition to those that apply to any Accounts you have with us or any other services you obtain from us. This Agreement also describes your rights and obligations as a user of the Service as well as the rights and obligations of Morehead Community Federal Credit Union (“Credit Union”). In this Agreement, the words “you” and “yours” mean those who agree to the terms and conditions of this Agreement. The words “we,” “us,” and “our” mean the Credit Union. The word “Account” means any one or more deposit, loan and line of credit Accounts you have with the Credit Union. The terms of this Agreement apply to both consumer and business members, except as specifically provided in this Agreement.

INTERNET BANKING SERVICES

If we approve your application for this service, you may use a computer to access your accounts. Access to the service requires a User ID and User Password. Access will be locked out after three (3) failed attempts. This service is normally accessible seven (7) days a week, 24 hours a day. You will need a computer and access to the Internet. You are responsible for the installation, maintenance, and operation of your computer. The credit union will not be responsible for any errors or failures involving any of your communication service(s) or, your computer or devices. At the present time, you may use this service to potentially do the following but is not limited to:

Change your User Passwords and User ID
Change your address
Customize account descriptions
Transfer funds between your credit union Online Banking accessible accounts
Transfer funds to accounts with the same ownership that you have authorized as allowed by account type
Review account balance, transaction history (including direct deposits made to your deposit accounts), cleared checks (with images, if available), and tax information for any of your accounts
Schedule transfers from and request notifications of activity on your credit union Online Banking accessible accounts
Review information on your loan account including payment amounts, due dates, current balance, and interest information
Transfer funds from a line of credit account to your savings or checking
Transfer from your savings, checking, and money market accounts to make a loan payment
Review your account statements and notices
Pay bills to merchants, institutions, or individuals with a U.S. address
Deposit checks to certain types of accounts using a mobile device
Check account balance and transfer funds between credit union accounts using a mobile device
Request funds be withdrawn from you accounts and a check issued and mailed to you
Issue stop payment(s)
Sign documents, complete a loan application, and submit them to the credit union electronically
Sign-up for e-Alerts

RELATION TO OTHER AGREEMENTS

You will be subject to the terms of our Membership and Account Agreement for transactions involving your deposit accounts and any applicable loan agreement for transactions involving a line of credit, credit card, or loan with the credit union.

CONSENT TO RECEIVE ELECTRONIC NOTICES, DISCLOSURES AND OTHER RECORDS

By using the service, you consent to and agree that:

Any notice, disclosure, record or other type of information that is provided to you in connection with your accounts or the Service, such as account disclosures, change-in-terms notices, privacy disclosures, fee schedules, transaction notices and alerts, account status notices, service messages, and any other type of notice (each a “Notice”), may be sent to you electronically. A Notice may be provided as a separate electronic document or may be included in an electronic account statement. An electronic Notice sent to any account owner shall be deemed sent to, and received by, all account owners on the day we send it. We reserve the right to send a Notice in paper format by postal mail.
We will not be obligated to provide any Notice to you in paper form unless you specifically request us to do so. You may request a paper copy of a Notice by contacting us at phone number listed under “How to Contact Us” below. You may be charged a fee for a paper copy of a Notice as set forth in your Membership and Account Agreement and/or applicable Fee Schedule.
Your consent to receive Notices electronically remains in effect until you withdraw your consent, close your account, or discontinue or terminate Service with us. You may withdraw this consent to receive electronic delivery of Notices by contacting us through the ways set forth below, under the heading “How to Contact Us.”
In order to receive Notices electronically you must maintain computer hardware and software of sufficient capability to be able to access and retain them electronically.

HOW TO CONTACT US

For questions regarding the service, call us at (606) 784-2201, or write to us at Morehead Community Federal Credit Union, PO Box 949, Morehead, KY 40351, or send a secure message through Internet Banking.

SERVICE CONDITIONS

Service Conditions – Your use of the service is subject to the following conditions:

User Authentication and Security Procedures – We reserve the right to deny access to the Service or reject a transaction on an Account without notice to you if we believe that there is risk of unauthorized, illegal, or fraudulent activity. You agree that we may, in our sole discretion, require verification of user identity, in a manner satisfactory to us, at any time before allowing access or login to the Service or before authorizing an online transaction from an Account. Such verification may be in any form we determine appropriate and may include, without limitation: (1) verification of User ID and/or Password; (2) verification of personal information contained in Credit Union records; (3) correct response to previously submitted personal questions, sometimes referred to as “security” or “challenge” questions; (4) verification of online activity by simultaneous contact through a non-online channel, sometimes called “verify by phone” authentication; or (5) any verification procedure that we may determine appropriate. In the event that you do not successfully provide the information requested, we may, at our sole discretion: (1) refuse a transaction; (2) require you to contact us by phone or in person at a branch for further validation of identity; (3) cancel the Service; and/or (4) take any security precautions we deem appropriate to prevent unauthorized use of the Service or Account.

User Responsibility for Online Security – To login to the Service, you are required to input a User ID and Password. After initial setup, you will be required to select your own password. To help safeguard your security, you should change your password frequently. You password can be changed within the Service. Do not write your password anywhere or store it on your computer. If you forget your password, use the online automated password reset process in the Service or call us at (606) 784-2201 to regain access. You should never include your password in any oral, written, faxed, or email communication with us or anyone. No Credit Union employee will ever ask you for your password.

Security of User ID and User Password – The User Password that you select is for your security purposes. The User Password is confidential and should not be disclosed to third parties or recorded. You are responsible for safekeeping your User Password. You agree to: (1) keep your Password secure and strictly confidential and not disclose or otherwise make your User Password available to anyone not authorized to sign on your Accounts; (2) instruct each person to whom you give your password that he or she is not to disclose it to any unauthorized person; and (3) immediately notify us and select a new password if you believe your password may have become known to an unauthorized person. If you authorize anyone to have or use your User Password, you understand that person may use the Service to review all of your Account information and make Account transactions. Therefore, we are entitled to act on transaction instructions received using your User Password, and you agree that the use of your User Password will have the same effect as your signature authorizing transactions. If you authorize anyone to use your User Password in any manner, their authority will be considered unlimited in amount and manner until you specifically revoke such authority by notifying the Credit Union and changing your User Password immediately. You are responsible for any transactions made by such persons until you notify us that transactions and access by that person are no longer authorized and your User Password is changed. If you fail to maintain or change the security and the Credit Union suffers a loss, we may terminate your Service immediately. You agree that we may send notices and other communications, including Password change confirmations, to the current address shown in our records, whether or not that address includes a designation for delivery to the attention of any particular individual.

Contact Information – You will promptly report to us any change to your contact information, including email address, name, physical address, mailing address (if different), and telephone numbers either by contacting us in person, in writing, or within the “Contact Us” feature of the Online Banking service.

Illegal Use of Internet Gambling – You agree that all transactions that you initiate through this Service are legal in the jurisdiction where you live and/or where the transaction occurred. Internet gambling may be illegal in the jurisdiction in which you are located, including the United States. Your transactions using this Service may only be conducted for legal transactions.

Service Limitations – The following limitations on online banking transactions may apply:

Transfers – You may make funds transfers to your other Accounts as often as you like. However, transfers from your savings or money market accounts will be limited to a total of six (6), including any other preauthorized third-party transfers as described in the Membership and Account Agreement, in any one month. You may transfer or withdraw up to the available balance in your deposit account or up to the available credit limit on a line of credit at the time of the transfer, except as limited under this Agreement or your deposit or loan agreements.

Account Information – The Account balance and transaction history information may be limited to recent Account information involving your Accounts. Also, the availability of funds for transfer or withdrawal may be limited due to the processing time for any deposit transactions and our Funds Availability Policy.

MOBILE BANKING

Prior to using Mobile Banking you must have –

Logged into the Online Banking service at least once and agreed to the terms and conditions of this Agreement;
Changed your User Password from the default password;
Chosen a Security Image; and
Set up your Multi-Factor Authentication Questions and Answers.

Mobile Banking Access – Mobile Banking is a personal financial information management service that allows you to access Account information and make transactions as set forth below using compatible and supported mobile phones and/or other compatible and supported wireless devices (“Mobile Device”). We reserve the right to modify the scope of the Mobile Banking services at any time. We reserve the right to refuse to make any transaction you request through Mobile Banking. You agree and understand that Mobile Banking may not be accessible or may have limited utility over some mobile telephone networks, such as while roaming. Upon registration for Mobile Banking, designated accounts and payees (or billers) linked to your Account through the Service may be accessible through Mobile Banking.

Use of Mobile Banking – You accept responsibility for making sure that you understand how to use Mobile Banking before you actually do so, and you use Mobile Banking in accordance with the instructions. You also accept responsibility for making sure that you know how to properly use your Mobile Device and the Mobile Banking software application. In the event we change or upgrade Mobile Banking, you are responsible for making sure you that you understand how to use Mobile Banking as changed or upgraded. We will not be liable to you for any losses caused by your failure to properly use Mobile Banking or your Mobile Device.

Device Requirements – Mobile Banking currently requires you to have certain device capabilities, which may change from time to time without prior notice to you. Current hardware and software requirements are as follows:

Compatible with iPhone, iPad, and iPod touch with iOS 7.0 or later.
Compatible devices with Android 2.3.3 or later.

Transactions – You may currently use the Mobile Banking account access service to make transactions as set forth below:

Note: Limited to Credit Union accounts.

Transfer funds between your Credit Union Online Banking accessible accounts
Transfer funds to Accounts with the same ownership that you have authorized as allowed by Account type
Review Account balance, transaction history (including direct deposits made to your deposit accounts), and tax information for any of your Accounts
Transfer from your savings, checking, and money market accounts to make a loan payment
Transfer funds from a line of credit account to your savings or checking
Review information on your loan account including payment amounts, due dates, current balance, and interest information
Review your Account statements and notices

Service Limitations – The following limitations on online banking transactions may apply:

Relationship to Other Agreements – You agree that when you use Mobile Banking, you will remain subject to the terms and conditions of all your existing agreements with us or any service providers of yours, including service carrier or provider, e.g., AT&T, Verizon, Sprint, T- Mobile, Alltel, etc.. You understand that those agreements may provide for fees, limitations and restrictions which might impact your use of Mobile Banking (for example, your mobile service carrier or provider may impose data usage or text message charges for your use of or interaction with Mobile Banking, including while downloading the Software, receiving or sending Mobile Banking text messages, or other use of your Mobile Device when using the Software or other products and services provided by Mobile Banking), and you agree to be solely responsible for all such fees, limitations and restrictions. You agree that only your mobile service carrier or provider is responsible for its products and services. Accordingly, you agree to resolve any problems directly with your carrier or provider without involving us. You also agree that if you have any problems with Mobile Banking, you will contact us directly.

Mobile Banking Software License – You are hereby granted a personal, limited, non-transferable, non-exclusive, non-sublicensed and non- assignable license (“License”) to download, install and use the Software application on your Mobile Device within the United States and its territories. In the event that you obtain a new or different Mobile Device, you will be required to download and install the Software application to that new or different Mobile Device. This License shall be deemed revoked immediately upon (i) your termination of Mobile Banking in accordance with this Agreement; (ii) your deletion of the Software application from your Mobile Device; or (iii) our written notice to you at any time with or without cause. If this License is revoked for any of the foregoing reasons, you agree to promptly delete the Software application from your Mobile Device.

Your Obligations – When you use Mobile Banking to access Accounts you designate during the Online Banking registration process, you agree to the following requirements:

Account Ownership/Accurate Information – You represent that you are the legal owner of the Accounts and other financial information which may be accessed via Mobile Banking. You represent and agree that all information you provide to us in connection with Mobile Banking is accurate, current, and complete, and that you have the right to provide such information to us for the purpose of operating Mobile Banking. You agree not to misrepresent your identity or your account information. You agree to keep your account information up to date and accurate.

User Conduct – You agree not to use Mobile Banking, or the content or information delivered through Mobile Banking in any way that would:

(a) infringe any third-party copyright, patent, trademark, trade secret, or other proprietary rights or rights of publicity or privacy, including any rights in the Software application; (b) be fraudulent or involve the sale of counterfeit or stolen items, including, but not limited to, use of Mobile Banking to impersonate another person or entity; (c) violate any law, statute, ordinance, or regulation (including, but not limited to, those governing export control, consumer protection, unfair competition, anti-discrimination, or false advertising); (d) be false, misleading, or inaccurate; (e) create liability for us or our affiliates or service providers, or cause us to lose (in whole or in part) the services of any of our service providers; (f) be defamatory, trade libelous, unlawfully threatening, or unlawfully harassing; (g) potentially be perceived as illegal, offensive, or objectionable; (h) interfere with or disrupt computer networks connected to Mobile Banking; (i) interfere with or disrupt the use of Mobile Banking by any other user; or (k) use Mobile Banking in such a manner as to gain unauthorized entry or access to the computer systems of others.

Mobile Banking Service Limitations- Neither we nor any of our service providers assume responsibility for the timeliness, deletion, error in delivery or failure to store any user data, communications or personalization settings in connection with your use of Mobile Banking. Neither we nor any of our service providers assume responsibility for the operation, security, functionality, or availability of any Mobile Device or mobile network which you utilize to access Mobile Banking. You agree to exercise caution when utilizing the Mobile Banking application on your Mobile Device and to use good judgment and discretion when obtaining or transmitting information. Financial information shown on Mobile Banking reflects the most recent account information available through Mobile Banking and may not be current. You agree that neither we nor our service providers will be liable for any delays in the content, or for any actions you take in reliance thereon. If you need current account information, you agree to contact us directly.

REMOTE CHECK DEPOSIT SERVICE

Remote Check Deposit service allows you to make deposits to your accounts using compatible and supported mobile phones and/or other compatible and supported devices. You must designate a Credit Union account as the settlement account to be used for the purposes of settling, in aggregate, the financial transactions requested in connection with this Remote Check Deposit service. The Credit Union shall provide you with details of the specific transactions, reported similarly as other transactions may be done, that were a result of access to the service.

Your Responsibility for Remote Check Deposit Services

Eligible Items for Deposit – You agree to submit only “checks” as defined in Federal Reserve Regulation CC. You agree that the image of the check transmitted to us shall be deemed an “item” within the meaning of Article 4 of the Uniform Commercial Code. For non-acceptable items, see Presentment Prohibitions below.

Funds Availability – Deposits made through Online Banking using the Remote Check Deposit feature will follow the availability requirements outlined in your Account Disclosures under the heading “Your Ability to Withdraw Funds at MCFCU”.

Deposit Limits – Daily limit using Remote Check Deposit is $5,000.00 and the maximum single item deposit is $5,000.00.

Transmission Deadlines – For the purpose of this agreement, business days are defined as Monday through Friday and exclude Federal holidays. Deposits posting through Remote Check Deposit after 3:00PM Eastern Time are considered to have been received on the next scheduled business day. Funds from deposited items may be held for an extended period of time as set forth in the Credit Union’s Funds Availability Policy in the applicable Membership and Account Agreement, as amended from time to time, which is incorporated herein by reference. You agree that the scanning and transmitting of checks does not constitute receipt by Credit Union. Acknowledgment of receipt or delivery does not constitute an acknowledgment by Credit Union that the transmission of a check does not contain errors or that funds will be available.

Deposit Acceptance – You agree that the Credit Union may at any time, in its sole discretion, refuse to accept deposits of checks from you by the Mobile Check Deposit service due to requirements not met as outlined in the following subsections or for other reasons not mentioned in this agreement. In the event that the Mobile Check Deposit service is interrupted or is otherwise unavailable, you may deposit checks in-person at a Credit Union branch or via night drop or mail or other contractually acceptable method. For questions about deposit acceptance, please contact the Credit Union.

Responsibility for Scanning – You are solely responsible for scanning checks, accessing the service from the Credit Union and for maintaining your mobile device. You are responsible for the payment of all telecommunications expenses associated with the service. Credit Union shall not be responsible for providing or servicing any scanning equipment or mobile device of yours.

Deposit Requirements – You agree that you will only use Remote Check Deposit for checks drawn on financial institutions within the United States and that these checks will be payable only to the account holder(s). You also agree that you will not use Mobile Check Deposit for checks payable to 3rd parties or checks that are post-dated, stale dated, or altered. Checks that do not fall within these requirements need to be presented in person at one of our branch locations to determine if the item(s) can be accepted for deposit. Checks submitted for deposit through Mobile Check Deposit must be properly endorsed (as seen below) before the item is transmitted.

Example of EndorsementJohn Smith
For Mobile Deposit Only, Acct 1234

Check Image Requirements – Any image of a check transmitted for deposit must accurately and legibly provide all the information on the front and back of the check at the time transmitted. The image of the check must accurately and legibly provide, among other things, the following information: (1) the information identifying the drawer and the paying bank that is preprinted on the check, including complete and accurate MICR information and the payee’s signature(s); and (2) other information placed on the check prior to the time an image is captured, such as any required identification written on the front of the check and any endorsements applied to the back of the check. The image quality must be legible and meet the standards for image quality established by the American National Standards Institute, the Board of Governors of the Federal Reserve, and any other regulatory agency, clearing house or association.

Check Retention & Destruction – You understand and agree that all checks you deposit belong to you and not to Credit Union and that those checks shall be handled in accordance with this Agreement. After receipt by Credit Union of any transmission by you of imaged checks for deposit to your account, the Credit Union will acknowledge by electronic means its receipt of such electronic transmission; however, your electronic transmission is subject to proof and verification. You shall retain the original of all imaged checks that have been deposited via Remote Check Deposit for reasonable period of time in order to verify settlement and credit or to balance periodic statements, but in no case less than 30 days from the date processed, and you shall properly destroy and dispose of such original checks after such time. During the period that you maintain the original checks, you understand and agree that you must use a high degree of care to protect these original checks against security risks. These risks include, without limitation, (i) theft or reproduction of the original checks (including by employees if you are a business) for purposes of presentment for deposit of these original checks, i.e. after the original checks have already been presented for deposit via the Remote Check Deposit service, and (ii) unauthorized use of information derived from the original checks. When you destroy and dispose of the original checks pursuant to the requirements of this Agreement, you understand and agree that you must use a high degree of care when selecting and implementing destruction and disposal procedures. Among other things, your procedures must be designed to ensure that the original checks are not accessed by unauthorized persons during the destruction and disposal process, and, once destroyed (e.g. through the use of competent shredding equipment), the original checks are no longer readable or capable of being reconstructed.

Financial Responsibility – You are solely and exclusively responsible for any and all financial risks, including, without limitation, insufficient funds, associated with accessing the Mobile Check Deposit service. The Credit Union shall not be liable in any manner for such risk unless the Credit Union fails to follow the procedures described in materials for use of the service. You assume exclusive responsibility for the consequences of any instructions you may give to the Credit Union, for your failure to access the service properly in a manner prescribed by the Credit Union, and for your failure to supply accurate input information.

Adjustments – We reserve the right to adjust your deposit after you have submitted it for processing. Adjustments are to correct mistakes in the value of image items deposited, mistakes in encoding, or for missing or illegible image items.

Fees Charged for Remote Check Deposit – No fee is charged for using Remote Check Deposit. However, we may assess fees as described in the applicable product or Account Disclosure Statement or fee schedule (including applicable transfer fees). We reserve the right to institute or change fees for Mobile Banking by sending you prior notice.

Account Reconciliation – Review and reconcile your periodic statement in a timely manner. If you notice an error or have a question about a Mobile Deposit posting, phone us at (606) 784-2201, or write us at PO Box 949, Morehead, KY 40351.

Conditions & Limitations of Mobile Check Deposit Service

Presentment Prohibitions – You shall not present, or attempt to present, or allow others, either directly or indirectly, to present, or attempt to present, for deposit by any means (i) any Substitute Check that has already been presented for deposit via the Remote Check Deposit service or (ii) any original check, the Substitute Check of which has already been presented for deposit via the Remote Check Deposit service. In the event that you or any third party presents, or attempts to present, a deposit in violation of this subsection, you agree to defend, indemnify, and hold the Credit Union and its agents harmless from and against all liability, damage and loss arising out of any claims, suits, or demands brought by third parties with respect to any such Substitute Check or original check. You agree that the aggregate amount of any checks which are deposited more than once will be debited from your account, and to the extent funds in your account are insufficient to cover such amount, any balance shall be debited by the Credit Union from any other deposit accounts with Credit Union in its sole discretion. You further acknowledge that you and not the Credit Union are responsible for the processing and handling of any original checks which are imaged and deposited utilizing the service, and you assume all liability to the drawer of any check imaged using the service or liability arising from the Credit Union’s printing of any substitute check from those images.

Other Unacceptable Items for Deposit:

Checks drawn on a foreign bank
Money orders
Travelers checks
Checks payable to an individual not on the account
An item drawn on your account at MCFCU
An item that contains evidence of alteration
A check previously converted to a “substitute check”, as defined in Regulation CC
A stale dated, expired, or postdated item
Any item that has been re-deposited or returned such as “non-sufficient funds” or “refer to maker”, or any other reason
An Image Replacement Document
Cash or made payable to Cash
Item has been previously cashed or deposited;
Savings Bonds

Your Representations and Warranties – You represent and warrant: (i) that you will comply with all Federal and state laws, and rules and regulations applicable to Mobile Check Deposit transactions, including those of the National Automated Clearing House for ACH transactions;(ii) that all checks scanned through image transport are made payable to you; (iii) that all signatures on each check are authentic and authorized; and (iv) that each check has not been altered. In the event you breach any of these representations or warranties, you agree to defend, indemnify and hold the Credit Union and its agents harmless from and against all liability, damages, and loss arising out of any claims, suits, or demands brought by third parties with respect to any such breach. You further authorize the Credit Union to charge your account for the amount of any such demand, claim, or suit that constitutes a breach of warranty claim under the provisions of the Uniform Commercial Code.

You agree to maintain and update any changes to your contact information within the Mobile Check Deposit.

Credit Union’s Obligations

Financial Data – We will transmit all the financial data under our control required to utilize the Mobile Check Deposit service selected by you and act on appropriate instructions received from you in connection with such service. We shall exercise due care in seeking to preserve the confidentiality of the User ID, User password, and PIN to prevent the use of the service by unauthorized persons (and in this connection it is understood and agreed that implementation by the Credit Union of its normal procedures for maintaining the confidentiality of information relating to you, and where practicable obtaining by the Credit Union from any third parties engaged in the installation, maintenance and operation of the system of similar undertakings), shall constitute fulfillment of its obligation to exercise due care. We will retain any substitute checks we generate for seven (7) years.

Exception Items – When we review and process your deposit, we may reject any electronic image of a check that we determine to be ineligible for the Mobile Check Deposit service (“Exception Item”) including, without limitation, electronic images of checks drawn on financial institutions located outside the United States, checks drawn on U.S. Banks in foreign currency, electronic images of checks that are illegible (due to poor image quality or otherwise), electronic images of checks previously processed, electronic images previously converted to substitute checks, and electronic images with unreadable MICR information. We will notify you of any Exception Items. You agree that if you wish to attempt to deposit any Exception Item to any account with the Credit Union, you shall only do so by depositing the original item on which the Exception Item is based. You acknowledge and agree that even if the Credit Union does not initially identify an electronic image as an Exception Item, the substitute check created by us may nevertheless be returned to us because the electronic image is deemed illegible by a paying bank and you will receive notification from the Credit Union.

Warranties & Disclaimer of Warranties – By using the Mobile Check Deposit service, you are converting an original check to a substitute check. Therefore, you understand and agree that you are responsible, to the extent permitted by law, for all warranties and indemnifications set forth in Check 21 applying to any Reconverting Credit Union and Truncating Credit Union, as such terms are defined by Check 21, including, without limitation, the obligation to only convert an original check that allows for the creation of a substitute check that clearly and accurately represents the information on the front and back of the original check. Credit Union and its agents may, but shall have no obligation to, screen items or Substitute Checks for legal compliance. You agree, unless caused by our intentional misconduct or gross negligence, to defend, indemnify, and hold Credit Union and its agents harmless from and against all liability, damage, and loss arising out of any claims, suits, or demands brought by third parties with respect to any such substitute checks.

Termination – You may terminate this service by notifying the Credit Union by phone, mail, email. The Credit Union may terminate this service for any reason by providing you a written or email notice. You will still be liable for any deposits made until the termination.

MEMBER LIABILITY

You are solely responsible for all transfers you authorize using any Services under this Agreement. If you permit other persons to use your User ID and Password and initiate transactions with any service covered under this agreement, you are responsible for any transactions they authorize or conduct on any of your Accounts. For consumer Accounts, transactions by family members or friends that you allow on your Account are authorized by you. For business Accounts, you understand that any transaction by a business owner, employee, agent representative, or anyone you authorize to transact business on your Account or any transaction by an authorized person that exceeds the specific transaction authority you have provided, is considered an authorized transaction for which you remain fully responsible. You are responsible for safeguarding your business, financial, and personal data, access codes and other information to prevent unauthorized access to or use of your Accounts through this Service. If you believe your security credentials have been lost or stolen, or that someone has transferred or may transfer money from your Account without your permission, call (606) 784-2201, or write to Morehead Community Federal Credit Union, PO Box 949, Morehead, KY 40351. When you give someone your security credentials, you are authorizing that person to access your deposit Accounts using this Service, and you are responsible for all transactions that person performs while using the Service. All transactions that person performs—even those transactions you did not intend or want performed—are authorized transactions. If you notify us that the person is no longer authorized, then only transactions that person performs after the time you notify us are considered unauthorized. Transactions that you or someone acting with you initiates with fraudulent intent are also authorized transactions. For your protection, sign off after every electronic banking session and close your browser to ensure confidentiality.

LIABILITY LIMITS ON CONSUMER ACCOUNTS

Tell us AT ONCE if you believe your User ID or Password has been lost or stolen. Telephoning is the best way of keeping your possible losses down. All the money in your account (plus your maximum overdraft line of credit) could be at risk for loss. If you believe your access code has been compromised, lost, or stolen, and you tell us within two business days after you learn of the loss or theft, you can lose no more than $50 if someone uses your access code without your permission.

If you do NOT tell us within 2 business days after you learn of the loss or theft of your access code, and we can prove we could have stopped someone from using your security credentials without your permission had you told us, you could lose as much as $500.

Also, if your statement shows transfers that you did not make, including those made by card, code, or other means, 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 60 days if we can prove that we could have stopped someone from taking the money, had you 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 your access code has been lost or stolen or that someone has transferred or may transfer money from your Account without your permission, call (606) 784-2201 or write to Morehead Community Federal Credit Union, PO Box 949, Morehead, KY 40351.

LIABILITY LIMITS ON BUSINESS ACCOUNTS

The Credit Union will not be responsible for any losses or damages you may incur regarding unauthorized access to or use of your Account through this Service.

BUSINESS DAYS

Our business days are Monday through Friday. Weekends and Credit Union holidays are not included.

FEES

Fees for these Services are set forth in the applicable Product and Fee Disclosure. From time to time, these fees may be changed. We will notify you of any changes as required by law. In addition to these fees, you are responsible for any other fees applicable to your Account.

ACCOUNT INFORMATION DISCLOSURE

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

as necessary to complete transfers or bill payments, or to investigate or resolve a problem related to a transfer or payment;
to verify the existence of sufficient funds to cover specific transactions upon the request of a third party, such as a credit bureau or merchant;
to comply with government agency or court orders, or in connection with fraud prevention or an investigation; and
if you give us your permission.

CREDIT UNION LIABILITY

Consumer Accounts – If we do not complete a transaction, using any service under this agreement, to or from your Account on time or in the correct amount according to our agreement with you, we may be liable for your losses or damages. However, there are some exceptions. We will not be liable, if, for instance:

Through no fault of ours, you do not have enough funds in your Account to process the transaction or transfer, your Account is inactive, or the transaction or transfer would go over the credit limit on your line of credit, if applicable.
You used the wrong access code, or you have not properly followed any applicable computer or Credit Union user instructions for making transactions or transfers.
Your computer or mobile device fails or malfunctions, or the Service was not working properly and such problem should have been apparent when you attempted such transaction or transfer.
Circumstances beyond our control (such as fire, flood, telecommunication, Mobile Service Provider or Internet Service Provider failures, postal strikes, equipment or power failure) prevent making the transaction or transfer.
The funds in your Account are subject to an administrative hold, legal process, or other claim.
You have not given the Credit Union complete, correct, and current instructions so the Credit Union can process a transaction or transfer.
There are other exceptions as established by the Credit Union, not specifically mentioned herein.

Business Accounts – The Credit Union shall have no liability to you, or any other person or entity for any loss, damage, cost, or expense arising out of this Agreement or the Online Banking Services regardless of the form in which asserted, whether in contract, tort (including negligence), warranty, or any other legal or equitable grounds, and regardless of whether the remedies available fail of their essential purpose, except as provided by applicable law for any error or delay in performing the Services provided for in this Agreement. We shall have no liability for not completing a transaction if we receive actual notice or have reason to believe that you have filed for bankruptcy, if the ownership of funds involving a transaction or the Authorized Representative’s authority to conduct a transaction is in question; if we suspect your Account has been used for illegal or fraudulent purposes; or if we reasonably believe that a transaction is prohibited by federal law or regulation or this Agreement. We will not be liable if you fail to report in a timely manner any error or discrepancy reflected in a statement prepared by us, or if you fail to report a breach of a security procedure. If we fail to perform under this Agreement in accordance with the standards set herein, our liability for damages, losses, and other compensation owing to you shall be limited to direct damages caused solely by the Credit Union. The Credit Union shall not be liable for any loss, damage, liability, or claim arising directly or indirectly from any error, delay, or failure to perform hereunder which is caused by earthquakes, fires, natural disasters, civil or foreign disturbances, power outages, acts of government, labor disputes, failures in either communication or computer networks, legal constraints, or any other event beyond its control.

MISCELLANEOUS

Termination of Services – You agree that we may terminate this Agreement and your Services if you or any authorized user of your Services breach this Online Banking Agreement or any other agreement with us; or if we have reason to believe that there has been an unauthorized use of your User ID or User Password. You or any other authorized party to your Account can terminate this Agreement by notifying us in writing. Termination of Service will be effective the first business day following receipt of your written notice.

Termination of this Agreement will not affect the rights and responsibilities of the parties under this Agreement for transactions initiated before termination. If you have not used any of the Services for a period of 6 months, the Credit Union may consider these Services to be inactive and may cancel your registration without notice. If your registration is canceled due to inactivity, and you later decide you want to use these Services, you may re-register at any time.

Amendments and Notices – The Credit Union reserves the right to change the terms and conditions upon which this Service is offered. The Credit Union will send notice to you before the effective date of any change, as required by law. Use of this Service is subject to existing regulations governing the Credit Union and any future changes to those regulations or new regulations.

Enforcement – You agree to be liable to the Credit Union for any liability, loss, or expense as provided in this Agreement that the Credit Union incurs as a result of any dispute involving your Accounts or Services. You authorize the Credit Union to deduct any amount related to such liability, loss, or expense from your Account without prior notice to you. In the event any party brings a legal action to enforce the Agreement or collect any overdrawn funds on checking Accounts accessed under this Agreement, the prevailing party shall be entitled, subject to Kentucky law, to payment by the other party of its reasonable attorney’s fees and costs, including fees on any appeal, bankruptcy proceedings, and any post-judgment collection actions, if applicable.

Statement Errors on Consumer Accounts – In case of errors or if you have questions about your electronic transactions, telephone us at the phone numbers or write us at the address set forth above as soon as you can. We must hear from you no later than sixty (60) days after we sent the first statement on which the problem or error appears.

Tell us your name and Account number,
Describe the 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, and
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 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 may provisionally credit 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) business days, we may not provisionally credit your Account. If we decide after our investigation that an error did not occur, we will send you an explanation of our findings within three (3) business days after the conclusion of our investigation. If you request, we will provide you copies of documents (to the extent possible without violating other members’ rights to privacy) relied upon to conclude no error occurred. We may revoke any provisional credit provided to you if we find an error did not occur.

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

Revised 05/01/15