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This Electronic Funds Transfers (EFT) Disclosure and Agreement as amended from time to time (“Agreement”) sets forth the terms and conditions governing the use of the Caltech Employees Federal Credit Union electronic transfer services. Disclosure information that applies to all electronic services offered by Caltech Employees Federal Credit Union is given below, followed by specific disclosure information for each service. This Agreement takes the place of all prior agreements and disclosures governing the use of all electronic services. By retaining, using, or allowing others to use the electronic services offered by Caltech Employees Federal Credit Union, you are agreeing to be bound by the terms and conditions of this Agreement. In this Agreement, the term “you” and “your(s)” refer to the member, and the terms “we,” “us” and “our(s)” refer to Caltech Employees Federal Credit Union.
We will issue you a Personal Identification Number (PIN). This number should be memorized. After memorizing it, you should destroy it. Your accounts can only be accessed by the use of an access device (ie: ATM Card, online banking) with the PIN. If you forget your PIN, contact the Credit Union and we will issue you a new one.
You will get a monthly account statement reflecting all of your transactions unless there is no activity in a particular month. In any case you will get the statement at least quarterly. Depending on the terminal, you will receive, or you may choose to receive, a receipt at the time you make a transaction at a terminal. If you do receive a receipt, retain the receipt to compare with your monthly statement from the Credit Union.
Tell us AT ONCE if you believe your ATM Card and/or PIN 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. If you tell us within two (2) business days, you can lose no more than $50.00 if someone used your ATM Card or PIN without your permission. If you DO NOT tell us within two (2) business days after you learn of the loss or theft of your ATM Card or PIN, and we can prove that we could have stopped someone from using your ATM Card or PIN without your permission if you had told us, you could lose as much as $500.00. If your card is used to obtain unauthorized advances DIRECTLY from a line of credit at an automated teller machine (ATM), your liability will not exceed $50. If you have authorized someone else to use the ATM Card and/or PIN, you are responsible for all transactions which that person or persons initiates at any time, even if the amount or transactions exceed what you may have authorized. Also, if your statement shows transactions 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 the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or hospital stay) kept you from telling us, we will extend the time periods.
If you believe your ATM Card or PIN has been lost or stolen, or that someone has transferred or may transfer money from your account without your permission, call us at 1-800-592-3328, or write to us at P.O. Box 11001, La Canada Flintridge, CA 91012-6001.
If we do not complete a transaction to or from your share 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:
There may be other exceptions not specifically mentioned above.
Telephone us at 1-800-592-3328, or write to us at P.O. Box 11001, La Canada Flintridge, CA 91012-6001 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.
We will tell you the results of our investigation within 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 45** days to investigate your complaint or question. If we decide to do this, we will credit your account within 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 10 business days, we may not credit your account.
If we decide that there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation.
In order to obtain any of the Credit Union's electronic services, you must open and maintain a share account. All charges associated with our electronic fund transactions are disclosed in our Rate and Fee Schedule which accompanies this Disclosure and Agreement.
We will disclose information to third parties about your account or the transfers you make:
Keep the Credit Union informed of your current address to insure correct mailing of monthly statements.
The Credit Union may change the terms and conditions of this Agreement from time to time by mailing written notice to your address as it appears on our records. If any change results in greater cost or liability to you or decreased access to your Accounts, you will be given at least twenty-one (21) days prior notice of the change. Prior notice may not be given where an immediate change in terms or conditions is necessary to maintain the integrity of the system and/or the security of ATM Cards or designated accounts.
You may terminate this Agreement with us at any time. The Credit Union reserves the right to terminate this Agreement and/or your use of your ATM Card, PIN or online banking access with or without cause. We may do so immediately if:
You agree to pay the Credit Union our reasonable expenses, including court costs and attorney’s fees, for enforcing our rights under this Agreement.
The Credit Union may from time to time offer additional services to your Account. Some may be at no additional cost to you and others may involve a specified fee. You understand that the Credit Union is not obligated to offer such services and may withdraw or change them at any time.
The Credit Union can delay enforcing any of the provisions under this Agreement or the law any number of times without losing its right to enforce them at a later date.
Except as stated otherwise in the Agreement, this Agreement does not alter or amend any of the terms or conditions of any other agreement you may have with the Credit Union.
If any part of this Agreement should be held to be unenforceable, the remaining provisions of this Agreement shall remain in full force and effect.
Each person who signs the Membership Application and/or signs up for electronic transfer services agrees to be bound by the terms and conditions of this Agreement. If more than one person signs the application, all signers are jointly and severally liable. The Credit Union can waive or delay enforcement of its rights as to one signer without affecting its ability to enforce its rights as to the other signers. The Agreement is also binding upon your heirs, personal representatives and successors.
By using your access to the system, or authorizing anyone else to use your access to the system, and/or by signing the application, you agree to be bound by the terms and conditions of this Agreement and Disclosure.
(a) Right to stop payment and procedure for doing so.
(b) Notice of varying amounts.
(c) Liability for failure to stop payment of preauthorized transfer.
You may use ACH services to perform the following transactions:
All payments and deposits are subject to later verification by us.
By using your ATM Card with your personal identification number (PIN) at automated teller machines (“ATMs”) or other electronic terminals operated by a participating institution, network, or company (collectively “terminals”), you authorize us to effect the transactions from or to your share account in accordance with the instructions given at the terminals. All ATM Card transactions are subject to the terms and conditions of your agreements with us governing the affected accounts.
You may use your ATM Card to perform the following transactions:
Some of the transactions listed above may not be available at all terminals. All deposits are subject to later verification by us.
You may make ATM cash withdrawals up to $500 from ATMs each 24-hour period as long as your available balance will cover the transaction. Various institutions which participate in networks of which the Credit Union is a member may have withdrawal limits different from the amount set forth herein. In the event that a specific ATM is so limited, you may not be able to withdraw more than the cash limit of that particular ATM.
All ATM Cards are non-transferable and belong to the Credit Union. The Credit Union may cancel, modify and restrict the use of any ATM Card upon proper notice or without notice if your account is overdrawn or where necessary to maintain or restore the security of accounts on the ATM system.
An ATM provides a quick and convenient way to access your money. However, use caution and remember the following safety tips whenever you use an ATM:
You are responsible for all transactions you make with the ATM Card or that you authorize another person to make with the ATM Card. You understand that if you disclose your ATM Card PIN to anyone, they will have access to all accounts identified by your account number. If the Account is a joint account, all transactions involving the Account are binding on all Account holders.
You may use your Home PC Access Service to perform the following transactions:
All transactions are subject to later verification by us.
Termination or Discontinuation
Termination of Home PC Access: CEFCU@HOME by you is done by not accessing or using the Service. Please note that any recurring transfers (via E-Move) you have previously authorized will be completed as instructed.