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Online Banking & Bill Pay - Agreement

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Freedom Credit Union (FCU or we) and the member(s) (member or you) hereby agree as follows:


1) Online Banking

You hereby acknowledge that you have reviewed and read the appropriate disclosure pertaining to Online Banking and agree to the terms of the disclosure. You agree that use of Online Banking by other persons will give them access to any of your shares, IRA, Certificates and loans accounts. Access to a member's account will be by means of a member's "Telephone Teller" PIN and a password. You agree not to make your "Telephone Teller" PIN and/or password available to any other person. YOU AGREE TO CHANGE YOUR PASSWORD THE FIRST TIME YOU CONNECT TO ONLINE BANKING. If you believe that your PIN and/or password has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call 215-612-5900, Monday - Thursday: 8 AM to 6 PM, Friday: 8 AM to 7 PM, or Saturday: 9 AM to noon. Or, write Freedom Credit Union, CenterPointe Office Center, 626 Jacksonville Road, Suite 250, Warminster, PA 18974-4862.


2) Operating System

Online Banking is designed to work with the Netscape 4.72 and America Online 4.0 web browsers or higher. From time to time, operating features may be implemented requiring software or hardware upgrades. FCU does not guarantee the ability to access Online Banking using web browsers other than the ones listed above.

3) Online Banking Services

Member hereby applies to FCU for Online Banking services. In order to remain eligible for Online Banking, member must remain a member of FCU in good standing. The following transactions may be performed by the member through Online Banking:

(a) Transfers. You may transfer funds among your FCU Share or Loan Accounts. Transfers from any share except Checking Shares are limited to six (6) per month in any combination of "Telephone Teller" transfers to other FCU accounts, overdraft transfers, over the phone or Online Banking transactions. You may transfer funds between different FCU accounts. These transactions are subject to prior approval of the other account holder.


(b) Bill Payer Services. Up to two hundred fifty (250) payees/merchants may be paid from your FCU Checking Shares. All payees are subject to FCU approval. By providing us with the merchant name, address, account number, and phone number, you authorize us to honor any payment instructions which we receive from you through Online Banking. You may designate the day on which payment should be sent. You should allow at least five (5) business days for mailing and processing by FCU and the merchant and you agree that FCU will not be liable for any late charges or other costs due to late payment.


(c) Additional Services. From time to time, FCU will announce additional services which are available through Online Banking. Your use of these services will constitute acceptance of the terms and conditions presented at the time they are announced.


(d) Access Limitations. FCU reserves the right to limit the amount of online access per month or per session.

4) Liability for Unauthorized Transfer

(a) Liability disclosure. Notify us AT ONCE if you believe your PIN and/or password has been lost or stolen and immediately change your PIN and/or password. Telephoning is the best way of limiting your potential losses. You could lose all the money in your account (plus your maximum overdraft line of credit). If you tell us within two (2) business days, you can lose no more than $50 if someone used your PIN and/or password without your permission. If you do NOT tell us within two (2) business days after you learn of the loss or theft of your PIN and/or password, and we can prove we could have stopped someone from using your password without your permission if you had told us, you could lose as much as $500. 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 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time.


(b) Address and telephone number. If you believe your password has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call 215-612-5900, Monday - Thursday: 8 AM to 6 PM, Friday: 8 AM to 7 PM, or Saturday: 9 AM to noon. Or, write Freedom Credit Union, CenterPointe Office Center, 626 Jacksonville Road, Suite 250, Warminster, PA 18974-4862.

5) Charges

FCU does not intend to charge a fee for Online Banking services. We do however, reserve the right to do so in the future and will provide advance notice to all users through the system.

6) Statements

All transactions generated by you through Online Banking and any Online Banking fees will appear on your periodic statement.

7) Our Liability

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:

(a) if, through no fault of ours, you do not have enough money in your account to make the transfer;


(b) if the transfer would go over the credit limit on your overdraft credit line;


(c) if Online Banking equipment or software was not working properly and you knew about the breakdown when you started the transfer;


(d) if circumstances beyond our control (such as fire or flood) prevent the transfer despite reasonable precautions that we have taken. We shall not be responsible for any other loss, damage or injury whether caused by the equipment, software and/or Online Banking service, nor shall we be responsible for any direct, indirect, special or consequential damages arising in any way out of the installation, use or maintenance of your equipment, software and/or Online Banking, except where the law requires a different standard. We do not make any warranties concerning the equipment, the software or any part thereof, including, without limitations, any warranties of fitness for a particular purpose or warranties of merchantability.

8) Your Billing Rights

Notify Us In Case of Errors or Questions about your bill.

If you think your bill is wrong, or if you need more information about a transaction on your bill, write us (on a separate sheet) at Freedom Credit Union, CenterPointe Office Center, 626 Jacksonville Road, Suite 250, Warminster, PA 18974-4862. You may also send your notification via secure email by selecting the "Send Mail" option in the "Other Services" section of Online Banking and specifying "Member Services" in the "Send To" field. Write to us as soon as possible. We must hear from you no later than 60 days after we sent you the first bill on which the error or problem appeared. You can telephone us, but doing so will not preserve your rights. In your letter, give us the following information:

(a) your name and account number.


(b) the dollar amount of the suspected error.


(c) describe the error and explain, if you can, why you believe there is an error. If you need more information, describe the item you are not sure about. If you have authorized us to pay your credit card bill automatically from your savings or checking account, you can stop payment on any amount you think is wrong. To stop payment, your letter must reach us three business days before the automatic payment is scheduled to occur.

9) Your Rights and Our Responsibilities After We Receive Your Written Notice

(a) We must acknowledge your letter within 30 days, unless we have corrected the error by then. Within 90 days, we must correct the error or explain why we believe the bill is correct.


(b) After we receive your letter, we cannot try to collect any amount you question, or report you as delinquent. We can continue to bill you for the amount you question, including finance charges, and we can apply any unpaid amount against your credit limit. You do not have to pay any questioned amount while we are investigating, but you are still obligated to pay the parts of your bill that are not in question


(c) If we find that we made a mistake on your bill, you will not have to pay any finance charges related to any questioned amount. If we did not make a mistake, you may have to pay finance charges, and you will have to make up any missed payments on the questioned amount. In either case we will send you a statement of the amount you owe and the date that it is due


(d) If you fail to pay the amount that we think you owe, we may report you as delinquent. However, if our explanation does not satisfy you and you write to us within ten days, telling us that you still refuse to pay, we must tell anyone we report you to that you have a question about your bill. And, we must tell you the name of anyone we reported you to. We must tell anyone we report to that the matter has been settled between us when it finally is.


(e) If we do not follow these rules, we cannot collect the first $50 of the questioned amount, even if the bill was correct.

10) Special Rule for Credit Card Purchases

If you have a problem with the quality of property or services that you purchased with a credit card, and you have tried in good faith to correct the problem with the merchant, you may have the right not to pay the remaining amount due on the property or services. There are two limitations to this right:

(a) You must have made the purchase in your home state or, if not within your home state, within 100 miles of your current mailing address; and


(b) The purchase price must have been more than $50. These limitations do not apply if we own or operate the merchant, or if we mailed you the advertisement for the property or services.

11) In Case of Errors or Questions about Your Electronic Transfers write us at: Freedom Credit Union, CenterPointe Office Center, 626 Jacksonville Road, Suite 250, Warminster, PA 18974-4862 or telephone us at 215-612-5900 as soon as you can if you think your statement or receipt is wrong, or if you need more information about a transfer on the statement or receipt. We must hear from you no later that 60 days after we sent you the first statement on which the error or problem appeared.

(a) Tell us your name and account number.


(b) Describe the error or the transfer you are unsure about, and explain, as clearly as you can, why you believe there is an error, or why you need more information.


(c) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error so that you will have use of the money during the time it takes us to complete the investigation.

12) Stop Payments for Bill Payer

In certain situations such as user error or duplicated transactions, the end user may request to have the payment stopped and credited back to their bill pay account. If a stop payment is determined to be necessary, the cutoff time for processing is 1:00 PM EST. Any requests initiated after 1:00 PM are processed on the following business day.

****Electronic payments cannot be stopped. If a payment is erroneously remitted as a result of user error, the user must contact the merchant directly to request a refund.

13) Finance Charges - Balance Computation

Personal Service Loans and Home Equity Loans: The FINANCE CHARGE is computed by multiplying the unpaid balance by the daily periodic rate and multiplying the result by the number of days since the last payment, except when advances are added to the loan, the FINANCE CHARGE is computed on the balance from the date of the last payment to the date on the additional loan, then on the total outstanding balance to the date of payment at the daily periodic rate.

Visa Loans: We figure the finance charge on your account by applying the periodic rate to the "average daily balance" of your account (including current transactions). To get the "average daily balance," we take the beginning balance of your account each day, add any new purchases, and subtract any payments or credits and unpaid finance charges. This gives us the daily balances. Then, we add up all the daily balances for the billing cycle and divide the total by the number of days in the billing cycle. This gives us the "average daily balance." GRACE PERIOD: To avoid incurring an additional finance charge on the balance of credit purchases (excluding cash advances) reflected on this statement and on any new purchases appearing on your next statement you must pay the New Balance shown on the reverse side on or before the due date.

14) Business Day

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

15) Governing Law

This agreement shall be governed by and constructed in according with the laws of the State of Pennsylvania.

Effective since November 20, 2008