Welcome to Rockland Federal Credit Union :: Applications/Forms :: Forms/Disclosures :: Electronic Funds Transfer Disclosure

Call us at 800-562-7328

ROCKLAND
FEDERAL CREDIT UNION
241 UNION STREET
ROCKLAND, MASSACHUSETTS 02370
781-878-0232
800-562-RFCU

NCUA MSIC

ELECTRONIC FUND TRANSFERS
YOUR RIGHTS AND RESPONSIBILITIES

Indicated below are types of Electronic Fund Transfers we are capable of handling, some of which may not apply to your account. Please read this disclosure carefully because it tells you your rights and obligations for the transactions listed. You should keep this notice for future reference.

Electronic Funds Transfers Initiated By Third Parties. You may authorize a third party to initiate electronic funds transfers between your account and the third party's account. These transfers to make or receive payment may be one-time occurrences or may recur as directed by you. These transfers may use the Automated Clearinghouse (ACH) or other payments network. Your authorization to the third party to make these transfers can occur in a number of ways. In some cases, your authorization can occur when the merchant posts a sign informing you of their policy. In all cases, the transaction will require you to provide the third party with your account number and credit union information. This information can be found on your check or draft as well as on a deposit or withdrawal slip. Thus, you should only provide your credit union and account information (whether over the phone, the Internet, or via some other method) to trusted third parties whom you have authorized to initiate these electronic funds transfers. Examples of these transfers include, but are not limited to:

Preauthorized credits. You may make arrangements for certain direct deposits to be accepted into your checking or savings account(s), or to pay your loan(s).
Preauthorized payments. You may make arrangements to pay certain recurring bills from your checking or savings account(s).
Electronic check or draft conversion. You may provide your check or draft to a merchant or service provider who will scan the check or draft for the encoded credit union and account information. The merchant or service provider will then use this information to convert the transaction into an electronic funds transfer. This may occur at the point of purchase, or when you provide your check or draft by other means such as by mail or drop box.
Electronic returned check or draft charge. Some merchants or service providers will initiate an electronic funds transfer to collect a charge in the event a check or draft is returned for insufficient funds.

Tele-Touch Telephone Transfers - types of transfers - You may access your account by telephone 24 hours a day at (781) 878-0232 or 1-800-562-RFCU using your personal identification number, a touch tone phone, your account numbers, and your social security number, to:

transfer funds from checking to checking
transfer funds from checking to savings
transfer funds from savings to checking
transfer funds from savings to savings
transfer funds from line of credit to checking
transfer funds from line of credit to savings
make payments from checking to loan accounts with us
make payments from savings to loan accounts with us
get information about:
- the account balance of checking account(s)
- recent deposits to checking account(s)
- recent withdrawals from checking account(s)
- the account balance of savings account(s)
- recent deposits to savings account(s)
- recent withdrawals from savings account(s)

Your Option to Limit Cash Withdrawals - In addition to dollar amount limitations for withdrawals using your ATM card or MasterMoney™ Debit Card and/or code that we may establish, you have the option to limit the amount of cash that can be withdrawn by your ATM card or MasterMoney™ Debit Card and/or code to $50.00 per day or some other amount acceptable to us.

ATM Transfers - types of transfers and dollar limitations - You may access your account(s) by ATM using your ATM card and personal identification number or MasterMoney™ Debit Card and personal identification number, to:

make deposits to checking account(s) with an ATM card
make deposits to checking account(s) with a debit card
make deposits to savings account(s) with an ATM card
make deposits to savings account(s) with a debit card
get cash withdrawals from checking account(s) with an ATM card
- you may withdraw no more than $505.00 per business day in combination with point-of-sale transactions (dollar limits may be higher or lower at credit union's discretion)
get cash withdrawals from checking account(s) with a debit card
- you may withdraw no more than $505.00 per business day in combination with point-of-sale transactions (dollar limits may be higher or lower at credit union's discretion)
get cash withdrawals from savings account(s) with an ATM card
- you may withdraw no more than $505.00 per business day in combination with point-of-sale transactions (dollar limits may be higher or lower at credit union's discretion)
get cash withdrawals from savings account(s) with a debit card
- you may withdraw no more than $505.00 per business day in combination with point-of-sale transactions (dollar limits may be higher or lower at credit union's discretion)
  For example if you withdraw $100.00 in cash at an ATM you will still be able to withdraw $405.00 in cash at the ATM with a balance of $1,995.00 available for point-of-sale transactions for that business day.
transfer funds from savings to checking account(s) with an ATM card
transfer funds from savings to checking account(s) with a debit card
transfer funds from checking to savings account(s) with an ATM card
transfer funds from checking to savings account(s) with a debit card
transfer funds from line of credit to checking account(s) with an ATM card
transfer funds from line of credit to checking account(s) with a debit card
make payments from checking account(s) with an ATM card to Rockland Federal Credit Union
make payments from checking account(s) with a debit card to Rockland Federal Credit Union
get information about:
- the account balance of your checking accounts
- the account balance of your line of credit
  - with an ATM card
  - with a debit card
- the account balance of your savings accounts
  - with an ATM card
  - with a debit card

Some of these services may not be available at all terminals.

Types of ATM Card Point-of-Sale Transactions - You may access your checking account(s) to purchase goods (in person), pay for services (in person), and get cash from a merchant, if the merchant permits, or from a participating financial institution.

Types of MasterMoney™ Debit Card Point-of-Sale Transactions - You may access your checking account(s) to purchase goods (in person, online, or by phone), pay for services (in person, online, or by phone), get cash from a merchant, if the merchant permits, or from a participating financial institution, and do anything that a participating merchant will accept.

Point-of-Sale Transactions - dollar limitations - Using your card:

you may not exceed $2,500.00 in transactions per business day in combination with ATM transactions (dollar limits may be higher or lower at credit union's discretion)

Currency Conversion. If you effect a transaction with your MasterMoney™ Debit Card in a currency other than US Dollars, MasterCard International Incorporated will convert the charge into a US dollar amount. MasterCard International will use its currency conversion procedure, which is disclosed to institutions that issue MasterCard cards. Currently, the conversion rate used by MasterCard International to determine the transaction amount in US dollars is generally either a government mandated rate or a wholesale rate determined by MasterCard International for the processing cycle in which the transaction is processed, increased by an adjustment factor established from time to time by MasterCard International. The current adjustment rate (conversion fee) is 1% as of December 1, 2005, and is subject to change. The 1% conversion fee is based on a Currency Conversion fee of .2% and a Cross-Border Transaction fee of .8%. The Cross-Border Transaction fee is charged on all cross-border transactions regardless of whether there is a currency conversion. A cross-border transaction is a transaction processed through the Global Clearing Management System or the MasterCard Debit Switch in which the country of the merchant is different than the country of the cardholder. Effective April 7, 2006 the 1% conversion fee will post as a separate transaction on your billing cycle. The currency conversion rate used by MasterCard International on the processing date may differ from the rate that would have been used on the purchase date or cardholder statement posting date.

Foreign Transactions. Use of your card outside the United States of America may be subject to certain limitations. If you are traveling outside of the United States, you understand that you may contact the Credit Union for information concerning such limitation in various countries.

Advisory Against Illegal Use. You agree not to use your card(s) for illegal gambling or other illegal purpose. Display of a payment card logo by, for example, an online merchant does not necessarily mean that transactions are lawful in all jurisdictions in which the cardholder may be located.

On-Line Banking Computer Transfers - types of transfers - You may access your account(s) by computer at RFCU.com 24 hours a day and using your personal identification number, to:

transfer funds from checking to checking
transfer funds from checking to savings
transfer funds from savings to checking
transfer funds from savings to savings
transfer funds from line of credit to checking
transfer funds from line of credit to savings
make payments from checking to loan accounts with us
make payments from checking to third parties
make payments from savings to loan accounts with us
get information about:
- the account balance of checking accounts
- deposits to checking accounts
- withdrawals from checking accounts
- the account balance of savings accounts
- deposits to savings accounts
- withdrawals from savings accounts

Termination -

You may terminate the electronic fund transfer agreement by written notice to us.
We may terminate the electronic fund transfer agreement by written notice to you.
Inactive accounts - If your share or share draft account is inactive for more than six months, we may terminate your ATM, Debit MasterMoney card without written notice to you.
Delinquency - RFCU reserves the right to revoke an ATM or Debit MasterMoney card if there is an outstanding past due payment on an open loan. If such privileges are revoked, RFCU will send written notice to you.

Minimum account balance -

You must maintain a minimum account balance of $5.00 in your savings or checking account as a condition of using an access device (card and/or identification code) to accomplish a transfer.

FEES

We do not charge for direct deposits to any type of account.

Except as indicated elsewhere, we do not charge for these electronic fund transfers.

ATM Operator/Network Fees. When you use an ATM not owned by us, you may be charged a fee by the ATM operator or any network used (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer).

DOCUMENTATION

Terminal transfers. You can get a receipt at the time you make any transfer to or from your account using one of our automated teller machines or point-of-sale terminals.
Preauthorized credits. If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call us at (781) 878-0232 or 1-800-562-RFCU to find out whether or not the deposit has been made.
Periodic statements.
You will get a monthly account statement from us for your checking accounts.
You will get a monthly account statement from us for your savings accounts, unless there are no transfers in a particular month. In any case, you will get a statement at least quarterly.

PREAUTHORIZED PAYMENTS

Right to stop payment and procedure for doing so. If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here is how:
Call or write us at the telephone number or address listed in this brochure in time for us to receive your request 3 business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call.
Please refer to our separate fee schedule for the amount we will charge you for each stop-payment order you give.
Notice of varying amounts. If these regular payments may vary in amount, the person you are going to pay will tell you, 10 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.)
Liability for failure to stop payment of preauthorized transfer. 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.

ADDITIONAL INFORMATION REQUIRED
BY MASSACHUSETTS LAW

Any documentation provided to you which indicates that an electronic fund transfer was made to another person shall be admissible as evidence of the transfer and shall constitute prima facie-proof that the transfer was made.
The initiation by you of certain electronic fund transfers from your account will effectively eliminate your ability to stop payment of the transfer.

Unless otherwise provided in this agreement, you (the consumer) may not stop payment of electronic fund transfers, therefore you should not employ electronic access for purchases or services unless you are satisfied that you will not need to stop payment.

FINANCIAL INSTITUTION'S 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:

If, through no fault of ours, you do not have enough money in your account to make the transfer.
If you have an overdraft line and the transfer would go over the credit limit.
If the automated teller machine where you are making the transfer does not have enough cash.
If the terminal or 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 are subject to legal process or other encumbrance restricting such transfer.
There may be other exceptions stated in our agreement with you.

CONFIDENTIALITY

In order that your privacy may be protected, we will not disclose any information about you or your account to any person, organization, or agency except:

for certain routine disclosures necessary for the completion of a transfer; or
for verification of the existence and condition of your account for a credit bureau or merchant; or
to persons authorized by law in the course of their official duties; or
to our employees, auditors, service providers, attorneys or collection agents in the course of their duties; or
pursuant to a court order or lawful subpoena; or
to a consumer reporting agency as defined in Chapter 93 of Massachusetts General Laws; or
by your written authorization which shall automatically expire 45 days after our receipt of your authorization.

If an unauthorized disclosure has been made, we must inform you of the particulars of the disclosure within 3 days after we have discovered that an unauthorized disclosure has occurred.

UNAUTHORIZED TRANSFERS

(a) Consumer liability.

• Generally. Tell us AT ONCE if you think your card and/or code has been lost, stolen or used without your permission. Telephoning is the best way, if any, of minimizing your possible losses. You can lose no more than $50 if you fail to give us notice of your lost or stolen card and/or code and your card and/or code is used without your permission.

• Additional Limits on Liability for MasterMoney™ Debit Card, when used for point-of-sale transactions. You will not be liable for any unauthorized transactions using your MasterMoney™ Debit Card, when used for point-of-sale transactions, if: (i) you can demonstrate that you have exercised reasonable care in safeguarding your card from the risk of loss or theft, (ii) you have not reported to us two or more incidents of unauthorized use within the prior twelve-month period, and (iii) your account is in good standing. If any of these conditions are not met, your liability is the lesser of $50 or the amount of money, property, labor, or services obtained by the unauthorized use before notification to us. "Unauthorized use" means the use of your debit card by a person, other than you, who does not have actual, implied, or apparent authority for such use, and from which you receive no benefit. This additional limitation on liability does not apply to PIN-based transactions or transactions not processed by MasterCard.

(b) Contact in event of unauthorized transfer. If you think your card and/or code has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call or write us at the telephone number or address listed in this brochure.

PROTECTED CONSUMER USE

Chapter 167B of the Massachusetts General Laws was enacted to provide a means for financial institutions, businesses, and consumers to conduct their business relations more conveniently. Transferring funds electronically will supplement the use of checks, credit, and cash and will not replace these present methods of doing business. As a consumer, you should be aware of your rights if you choose to utilize this system.

Prohibition of compulsory use. No person may:
-require you to use a preauthorized electronic fund transfer as a condition of the extension of credit unless the credit is being extended in connection with an overdraft checking plan, or is being extended to maintain a specified balance in your account, or
-require you either to accept a transfer service or to establish an account which is accessed electronically as conditions of employment or receipt of governmental benefit, or
-require you to pay electronically for the purchase of goods or services.
If your account is to be credited by a preauthorized transfer you may choose the financial institution to which the transfer may be made, if the institution is technically capable of receiving such preauthorized transfer.
Waiver of rights. No writing or agreement signed by you can waive the rights conferred to you by Chapter 167B of the Massachusetts General Laws unless you decide to waive these rights in settlement of a dispute or action.
Refunds. If it is the policy of a store or retail business to give cash refunds in return for an item purchased by cash, then this policy must also cover refunds for items purchased by electronic fund transfer unless it is clearly disclosed at the time the transaction is consummated that no cash or credit refunds are given for payments made by electronic fund transfers.
Suspension of obligations. If a person agrees to accept payment by means of an electronic fund transfer and the system malfunctions preventing such a transfer, then the consumer's obligation is suspended until the transfer can be completed, unless that person, in writing, demands payment by other means.
Prohibited means of identification. Your Social Security number cannot be used as the primary identification number although it can be used as secondary aid to identify you.
Criminal liability. Procuring or using a card, code or other means of electronic access to an account with the intent to defraud is a basis for criminal liability.

ERROR RESOLUTION NOTICE

In Case of Errors or Questions About Your Electronic Transfers, Telephone or Write us at the telephone number or address listed in this brochure as soon as you can, if you think your statement, passbook or receipt is wrong or if you need more information about a transfer listed on the statement, passbook or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the problem or error appeared or, if the only transfer possible is a direct deposit to your passbook account, no later than 60 days after the problem or error was FIRST reflected in your passbook or statement.

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 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 calendar days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 calendar days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 calendar 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 tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation.

You may inspect or ask for copies of the documents that we used in our investigation. If there is no error, we may impose on you a reasonable charge for making such reproductions.

ROCKLAND FEDERAL CREDIT UNION
ACCOUNT SERVICES
241 UNION STREET
ROCKLAND, MASSACHUSETTS 02370
Business Days: Monday through Friday
Business Hours: Monday through Wednesday: 9:00 A.M. to 4:00 P.M.
Thursday through Friday: 9:00 A.M. to 6:00 P.M.
Excluding Federal and State Holidays
Phone: (781) 878-0232 • 1-800-562-RFCU
MORE DETAILED INFORMATION IS AVAILABLE ON REQUEST