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Electronic Fund Transfer Laws Agreement & Disclosure

The Oakland County Credit Union makes available to members various "electronic fund transfer" services. We have also provided, and will be providing from time to time, automated teller machine (ATM/MasterMoney) cards and other credit cards to certain members. Other transfers are made by use of a touch-tone telephone or personal computer.

When a secret ATM personal identification number ("PIN") is also provided to a member, the ATM card or other credit card together with the PIN can be used in NYCE, Cirrus, CO-OP Network, Service Center 24 and STAR ATMs to make electronic fund transfers to, from or between one or more of the accounts you have with us, simply by following the instructions at the machine.

We will, upon request, issue you an Oakland County Credit Union Tele-Max personal identification number ("Tele-Max PIN") which you can use with a touch-tone telephone or computer to make electronic fund transfers to, from, or between one or more account types in the Credit Union by following the rules and procedures of our touch-tone telephone and/or computer programs. You agree that you will keep all personal identification numbers secret.

This disclosure is furnished to you to satisfy the requirements of the federal and Michigan statutes relating to electronic fund transfers, as well as the requirements of Regulation E. If you have not authorized any electronic access to your account(s) and have not obtained any PIN and are not authorized to use our machines, this agreement will not concern you.

This Agreement is a contract. That is, the terms and conditions set out here are binding on you and on us as to those accounts you have here with us that are affected by electronic fund transfers, and the use of an ATM/MasterMoney card or other credit card we may issue to you. Your use of such account(s) or card(s) after receipt of this Agreement constitutes your acceptance of these terms and conditions. However, the account agreements you have previously made with us continue in effect except to the extent they may be modified by this Agreement.

If you have previously told us which of your account(s) you want to be subject to any particular type of electronic fund transfer service, we will follow these instructions. You may change these instructions in the future, and we will follow your wishes to the extent of our electronic fund transfer programs at that time.

In this disclosure, "we" or "us" or "Credit Union" refers to "Oakland County Credit Union," and "you" and "your" includes the plural in cases where two or more persons have an interest in an account affected by an "electronic fund transfer." The Following Sections Relate to "Electronic Fund Transfers" Affecting Your Account(s), Whether made by use of any ATM Mastermoney Card or other card we may issue, or otherwise:

A. Electronic Payments and Deposits We Agree to Honor.

We agree to honor electronic payments from and deposits to your regular share account, share draft account and line-of-credit account (hereinafter referred to as "accounts"), if the electronic payments and deposits are properly presented through "Payments Authority", or if they are properly presented by a third party with whom we have an agreement to honor them, provided that (1) in the case of an electronic payment you have enough collected funds in your deposit account to cover the payment; and (2) in the case of case of an electronic deposit we receive enough good funds to cover the deposit from the third party.

You may use your ATM/MasterMoney card to pay for purchases at places that have agreed to accept such cards for point-of-sale transactions. Payment may only be made from funds in your share draft account.

At the present time, you can authorize the following types of electronic transfers to or from your account(s):

Transfers To Your Account(s):

• Deposits of your paycheck from various employers who have agreed with us to provide this service;
• Deposits of retirement benefits, deferred compensation, social security, pension payments, disability or survivorship benefits;
• Deposits from any third party through the facilities of Payments Authority; and
• Deposits from other member's accounts.

Transfers From Your Account(s):

• Payments to other member's accounts;
• Transfers to your line-of-credit account(s)
• Payments to third parties, through the facilities of Payments Authority;
• Payments to third parties, through point-of-sale and MasterCard facilities.

Tele-Max Transactions:

• Withdrawals from your regular share, share draft, daily share, money market, (a check will be mailed to your address on file);
• Transfers from your regular share, share draft, daily share, money market, loan account, to any of these accounts;
• Transfers from your regular share, share draft, daily share, money market, to Christmas Club and Vacation Club;

ATM Card Transactions:

If you have a ATM/Master Money card or credit card for which we have issued a PIN, you can use it to make any or all of the following transactions using a NYCE, Cirrus, CO-OP Network, Service Center 24 or STAR ATM during the hours that a machine is accessible (some machines may not be able to perform all of these functions):

• Deposits to regular share accounts and share draft accounts
• Cash withdrawals from your regular share account or share draft account
• Cash advances on your line-of-credit*
• Transfers (non-cash) from your regular share account to your share draft account or from your share draft account to your regular share account
• Point-of-sale transactions at stores that accept NYCE cards
• Payments on loans*
• Purchases at merchants that accept MasterCard

* These are not "electronic fund transfers"

Home Banking Transactions:

• Transfers from your regular share, share draft, daily share, money market, loan account, to any of these accounts.
• Transfers from your regular share, share draft, daily share, money market, to Christmas Club and Vacation Club.
• Transfers from your regular share, share draft, daily share, money market, loan account, to other member's accounts.

Internet Bill Payment Transactions:

• Withdrawals from share draft to payees specified by account owner.

If you have previously told us which of these electronic deposits and electronic payments you want us to accept or make, then we will continue to make payments and accept these deposits. However, you can discontinue any such electronic payments or deposits, or you can start using other available electronic payment and deposit services. We may make additional types of electronic payment and deposit services available in the future; we may also discontinue one or more of all electronic fund transfer services in the future, but if we do that we will give you at least twenty-one (21) days advance written notice.

B. Charges and Limitations on Electronic Payments and Deposits.

You must maintain a minimum of $5.00 in a regular share account to be entitled to make "electronic fund transfers" affecting your account(s). We reserve the right to increase minimum balance requirements and to impose other restrictions in the future. If we do, we will give you at least twenty-one (21) days advance written notice.

We will charge you $1.00 for each withdrawal after the first six (6) withdrawals per month when you use an ATM other than the Credit Union's ATMs. There are no charges for transfers, deposits, or balance inquiries when you use any ATM. There is a $5.00 charge to re-issue an ATM card or personal identification number. There is a $1.00 charge to re-issue a Tele-Max personal identification number. There is a $5.95 monthly charge for bill payment users. We will charge you $24.00 NSF fee for any transaction if through no fault of ours, you do not have enough collected funds in your account to make the transaction. A fee may be charged by: (1) an ATM operator not holding the consumer's account; or (2) any national, regional, or local network used to complete the transaction. The ATM operator must disclose the amount of the fee, either on the screen or on a paper notice, before the consumer is committed to completing the transaction.

There are no other charges to you or your account(s) for the making of the electronic fund transfers, or for the right to make such transfers. However, we reserve the right to impose additional charges, or to thereafter increase these charges if we deem it necessary. If additional charges are imposed or increased or these charges are increased, you will receive at least twenty-one (21) days advance written notice.

As to transactions other than those made at an ATM, there are, at the present time, no limitations as to how you can make the electronic fund transfers described above. Nor is there any restriction as to the dollar amount of any one electronic fund transfer. However, no transfer or withdrawal from your money market account will be made through the Tele-Max program or Home Banking if earlier in the same month six transfers or withdrawals from this account have already been made by telephone or computer pursuant to the authorization you previously gave us. We reserve the right to impose additional restrictions in the future as we deem reasonable, but we will give you at least twenty-one (21) days advance written notice before doing so.

C. Receipts and Periodic Statements.

You can get a receipt at the time you make any transfer to and from your account using an ATM. If a machine fails to provide a receipt, please contact us and we will send you a receipt promptly.

You will also get a monthly account statement for each asset account as to which you have authorized any electronic fund transfer service unless there are no fund transfers in a particular month. In any case you will get the statement at least quarterly. Periodic statements we send you on accounts which are subject to electronic fund transfers and receipts issued by ATMs are admissible evidence.

D. Liability for Unauthorized Transfers.

You will not be liable for unauthorized electronic payments made by a third party from your regular share or share draft account.

If you believe that an unauthorized electronic payment have been made from your regular share or share draft account, call us at (248) 886-0144 or write to us at Oakland County Credit Union, 1375 North Oakland Blvd., Waterford, MI 48327.

E. Electronic Payments.

• Stopping a Payment. If you have told us in advance to make regular payments out of your deposit account, you can stop any of these payments. Here's how: Call us at (248) 886-0144 or write to us at Oakland County Credit Union, 1375 North Oakland Blvd., Waterford, MI 48327 in time for us to receive your request three (3) business days or more before the payment is scheduled to be made. We may accept stop payments requests after this three-business day limit, but we are not required to under law or this Agreement. If you call, we may also require you to put your request in writing and to get it to us within fourteen (14) days after your call. We will charge you $24.00 for every stop payment order you give, and we reserve the right to increase such charges in the future. Once we have processed your request, we will stop all electronic payments initiated by the third party you have named in your request, until we receive notice from you instructing us to commence payments again to such third party. If you order us to stop any of these regular electronic payments three (3) business days or more before the electronic payment is scheduled and we do not do so, under federal law we will be liable for your losses or damages.
  
   
• Notice of Varying Amounts. If these regular payments change, either we or the person you are going to pay will tell you ten (10) days before the change how much the new amount will be and when the first payment at the new amount will be made; and if you arrange with a third party for regular electronic payments that vary in amount to be paid from your deposit account, either we or the third party will tell you ten (10) days before each electronic payment, when the electronic payment will be made and how much it will be. You may choose instead to get this notice only when the electronic payments would differ by more than a certain amount from the previous one, or when the amount would fall outside certain limits that you set.
  
   
• Reversing Electronic Payments. If an electronic payment, including point-of-sale transactions, is for $50.00 or more for goods and services, you have the right to require us to reverse such electronic payment and to re-credit your account with the full amount of the electronic payment if (1) you tell us, within four (4) calendar days after the date of payment, to make such a reversal, (2) you notify us that you have made a good faith attempt to resolve your dispute with the third party involved, and (3) you assure us that any returnable goods involved in the dispute will be returned. If you do these things in writing you must send the letter to Oakland County Credit Union, 1375 North Oakland Blvd., Waterford, MI 48327. If you phone us, you must call us at (248) 886-0144. If you tell us orally that you want such an electronic payment reversed, we will send you a form you can use to confirm your reversal request, your notice of attempted resolution of the dispute, and your assurance to return any of the goods involved. You are required to get this form back to us properly completed within fourteen (14) days after the date of your oral request for reversal. If you fail to verify your request for reversal, we will reinstate your original debt resulting from the transaction to the extent of your available account balance. We reserve the right to impose a reasonable charge for handling such reversal requests and to increase such charges thereafter.

F. Find Out About Recurring Electronic Deposits.

If you have arranged to have electronic deposits made to your deposit account at least once every sixty (60) days from the same third party, we will notify you if a deposit is not made per your account statement. This section does not apply, however, if the third party making the electronic deposit tells you every time an electronic deposit is sent. Alternatively, you may call us at (248) 886-0144 to find whether or not the deposit has been made.

G. Transactions That We Do Not Complete.

If we do not complete a transaction 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: (1) if through no fault of ours, you do not have enough collected funds in your account to make the transaction; (2) if the payment would result in an over-draft on your line-of-credit account; (3) if the ATM where you are making the transaction does not have enough cash; (4) if the ATM was not working properly and you knew about the breakdown when you started the transaction; or (5) if circumstances beyond our control (such as fire or flood) prevent the transaction, despite reasonable precautions that we have taken. There may be other exceptions provided by applicable law.

H. Liability for Accuracy of Data.

We will not be responsible to you for any claims, damages, losses or expenses arising out of the preparation or delivery of data input for electronic fund transfers and credit or debit entries prepared by your employer or other person or company authorized by you to do so. In all cases, we will be entitled to rely upon the accuracy and correctness of the data input prepared by your employer or other authorized person or company, and we will have no obligation to investigate or determine the accuracy or authorization of this data input or the electronic fund transfers directed by your employer or other person or company authorized by you to do so.

I. Disclosure of Information About Your Account.

We will disclose information to third parties about your account or the transfers you make: (1) where it is necessary for completing transfers; or (2) in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; or (3) in order to comply with government or court orders; or (4) if you give us your written permission.

J. In Case of Errors or Questions About Your Electronic Transfer.

Telephone us at (248) 886-0144 or write us at Oakland County Credit Union, 1375 North Oakland Blvd., Waterford, MI 48327 as soon as you can, if you think your statement or ATM/MasterMoney receipt is wrong of if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than sixty (60) days after we sent the first statement out on which the problem or error appeared. In writing to us: (1) tell us your name and account number (2) 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; and (3) tell us the dollar amount of the suspected error. If you tell us orally, we may require that you send your complaint or question in writing within ten (10) business days. We will send you a form you can use to make such confirmation.

We will tell you the results of our investigation within ten (10) business days after we hear from you and will correct an error promptly and provide you with a written explanation of the error. If we need more time, however, we may take up to forty-five (45) calendar days (ninety (90) calendar days for point-of-sale transactions) to investigate your complaint or question. If we decide to do this we will re-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 refuse to re-credit your account.

If we decide there was no error, we will send you a written explanation within three (3) business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation. We may require payment of a reasonable charge for such copies.

K. Our Business Days.

Our business days are Monday through Friday 9:00a.m. - 5:30p.m., Friday Drive-Thru, 8:30a.m. - 6:00p.m. Friday. Holidays are not included.

L. Changing or Terminating This Agreement.

We have the right to change this Agreement from time to time. We will notify you at least twenty-one (21) days before a change will take effect, If it will cause you greater costs or liability or it will limit your ability to engage in electronic transfers. We do not have to notify you in advance, however, if the change is necessary for security reasons. We also have the right to terminate this Agreement at any time.

M. Our Rules and Regulations, Other Agreements and Right of Setoff.

Your deposit accounts may also be governed by other agreements between you and us and by our rules and regulations for personal deposit accounts. You also agree that we may, without prior notice to you, withdraw funds from any of your accounts and apply such funds to satisfy in part or in whole any matured loans or advances made by us to you in accordance with the Michigan Law relating to our right of setoff.

N. Notices.

Unless otherwise provided herein all notices from us will be effective when we have mailed them or delivered them to the last known address that we have for you in our records. In the case of joint accounts, notice to or from one account holder will be effective for all account holders.

O. Joint Accounts.

If more than one person signed your request for electronic fund transfer services, each person who signed will be bound by this Agreement and will be responsible for paying all amounts owed as a result of this Agreement. You will be liable for all electronic fund transfers by all persons who have an interest in an account subject to electronic fund transfers and for all card usage by each person you authorize to use your card and each person to whom you authorize us to issue a card to access your accounts.

P. Collection Expenses.

If we ever have to file a lawsuit to collect what you owe us, you will pay our reasonable expenses, including attorney's fees.

Q. What State's Law Applies to this Agreement.

Any question under this Agreement will be decided by Michigan or federal law. If any term of this Agreement cannot be legally enforced, it is to be considered changed to the extent necessary to comply with the law.

R. Violations of Law.

You may notify the Commissioner of the Michigan Office of Financial and Insurance Services. Department of Consumer and Industry Service, P.O. Box 30220, Lansing, Michigan, 48909-7720, Toll Free (877) 999-6442, Local (517) 373-0220, if you believe the Credit Union is in violation of the law.

S. Termination of Prior Agreement.

This Agreement terminates and takes place of any Electronic Fund Transfer Agreement of Disclosure previously furnished to you. The date of this Agreement is April 1, 2003.

The remaining sections of this disclosure relate only to "Electronic fund transfers" MadE by use of an automated teller machine or Mastermoney card.

T. Card Ownership.

All ATM/MasterMoney cards and PINs we provide are the property of the Credit Union. If this Agreement is terminated, you agree to surrender the card to us immediately.

U. Secrecy of PIN.

For your protection you agree not to write the PIN on the card, not keep the PIN with the card or any place where it can be found with the card, not to provide the card to anyone who is not authorized to use it, and not to reveal the PIN to any other person.

V. Other Limits on Automated Teller Machine or MasterMoney Transactions.

We will not be required to complete an ATM or MasterMoney withdrawal or transfer from a regular share account or share draft account if you do not have enough collected funds in the account to cover the transaction. We may complete the transaction, however, at our option. You agree not to use your ATM card and PIN to withdraw more than $500.00 during an ATM operating cycle, unless we authorize larger withdrawals. You may not have in excess of $2,000 in MasterMoney transactions at any one time.You also agree not to use your ATM card and PIN for a transaction that would cause the balance in your regular share or share draft to go below zero, or that would cause the outstanding balance of your line-of-credit account to go above your approved credit line, or that would cause a withdrawal or transfer from a type of account that you do not have. We will not be required to complete any such transaction, but if we do so, you agree to pay us the excess amount of the improperly withdrawn or transferred amount immediately upon request. We may also limit or refuse to complete your ATM or MasterMoney transaction when we have to, due to security reasons.

W. Crediting of Deposits and Payments.

Deposits or payments made in ATMs, whether in cash, check, draft or money order, may not be credited to your account until the item deposited is settled or until the cash deposited is collected, verified and entered into the data processing system. Deposits made to ATMs not owned or operated by the Credit Union will be available on the sixth (6) business day after deposit.

X. Liability for Unauthorized Transactions.

You will be liable for unauthorized use of your card at ATMs or MasterCard merchants to the extent allowed by applicable federal and state law.

Tell us AT ONCE if you believe your card has been lost or stolen. Telephoning is the best way of keeping your possible losses down. 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 card without permission. If you wait more than two (2) business days after you learn of the loss or theft to tell us, you could be responsible for as much as $500.00 of money wrongfully taken from your account by use of the card if we can prove we could have stopped the taking of the money if you had told us within the two (2) business day period.

If your statement shows transfers that you did not make, tell us at once. If you do not tell us within sixty (60) days after we mailed the statement, you may be responsible for money taken from your account after the sixty (60) day period if we can prove we could have stopped the taking of the money if you had notified us in time.

If a good reason (such as a long trip or hospital stay) kept you from giving us notice, we will extent the time periods.

Y. Special Liability Protection Rules for MasterMoney debit cards.

You will not be liable for unauthorized use of your MasterMoney card when used for point-of-sale transactions (excluding transacting performed at an ATM), if each of the following conditions is met:

• You must have exercised reasonable care in safeguarding your card from risk of loss or theft.
• You have not reported two or more incidents of unauthorized use to us within the preceding 12 months.
• Your account is in good standing.

Z. Foreign currency conversion process.

For MasterMoney Accounts: If you effect a transaction at a merchant that settles in a currency other than U.S. dollars, MasterCard International Incorporated will convert the charge into a U.S. dollar amount. MasterCard International will use its currency conversion procedure, which is disclosed to institutions that issue MasterCard cards. Currently the currency conversion rate used to determine the transaction amount in U.S. dollars is generally either a government-mandated rate or the wholesale rate in effect the day before the transactions processing date, increased by 1%. The currency conversion rate used on the processing date may differ from the rate that would have been used on the purchase date or cardholder statement posting date.

AA. Telephone Number and Address for Notification of Unauthorized Transfer.

If you believe that your card has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call us at (248) 886-0144, or write to us at Oakland County Credit Union, 1375 North Oakland Blvd., Waterford, MI 48327.

BB. Terminating This Agreement.

You may terminate this Agreement at any time by notifying us in writing and no longer using your card or PIN at any ATM or merchant. We can also terminate this Agreement at any time. Whether you terminate the Agreement or we do, the termination will not affect your obligations under this Agreement even if we allow any transaction to be completed with your card and PIN after this Agreement has been terminated.