ITT Employees Federal Credit Union Electronic Funds Transfer Disclosure

The first time that you enter the ITT Employees Federal Credit Union Internet Access Site, using your Personal Identification Number, will mean that you have accepted and agreed to electronically receive and comply with ITT Employees Federal Credit Union's Electronic Funds Transfers Disclosure, which appears below, as amended from time to time. Date of Notice: January 15, 2001

IMPORTANT ACCOUNT INFORMATION FOR OUR MEMBERS
from
ITT Employees Federal Credit Union
1919 West Cook Road
Fort Wayne, IN 46818
(260) 451-6161
ELECTRONIC FUND TRANSFERS DISCLOSURE STATEMENT
YOUR RIGHTS AND RESPONSIBILITIES

The purpose of this Disclosure Statement/Agreement is to make you aware of your rights and responsibilities regarding the use of our Electronic Funds Transfer Services. This Disclosure is provided to members according to the provisions of the Federal Electronic Funds Transfer Act. As used in this Disclosure, the words "we, us or the Credit Union" refer to the ITT Employees Federal Credit Union: the words "you and your" refer to the member: and the letters "PIN" refer to your Personal Identification Number. This Disclosure applies to all types of electronic funds transfer services provided by ITT Employees Federal Credit Union. Please read this Disclosure in its entirety since it contains disclosures which affect you. You may want to print or save this document for future reference, or if you would like a paper copy you may notify us directly. Electronic Services that ITT Employees Federal Credit Union provides are as follows: Internet Account Access, Telephone Teller, Automated Teller Machines (ATM), electronic deposits of funds such as social security, retirement, payroll checks, Visa transactions, and preauthorized automatic transfers of funds out of an account. These preauthorized automatic transfers include electronic check transfers such as "point of purchase", "re-presented checks", and "pre-authorized payment and deposits" transactions as well as fees that are debited electronically for re-presented checks. All electronic fund transfer services provided by ITT Employees Federal Credit Union in relation to its accounts, as defined in the Electronic Funds Transfer Act, are subject to the following terms and conditions. Your use of our electronic funds transfer services, by means of Internet Account Access, constitutes your agreement to be bound to these terms and conditions: Transactions may only be performed while your accounts have sufficient balances to complete the Transaction requested. Wrongfully obtaining funds from the Credit Union by use of a Card or PIN constitutes a federal criminal offense, punishable by fine or imprisonment, or both. All terms and conditions of any written agreements that have been previously made between you and the Credit Union regarding the use of the Card and PIN and any of your Credit Union accounts apply to all Transactions, unless any terms or conditions in those agreements conflict with the rules and regulations set forth in this disclosure, in which case the rules and regulations of this disclosure shall control. All transactions, whether deposits, withdrawals, or transfers, made with the Card or PIN are subject to verification by us. Any card or other instrument issued by us shall supercede the present instruments.

Under this agreement and disclosure, you agree as follows:

PROPERTY RIGHTS

The Card and the PIN are property of the Credit Union and your right to use these in connection with your Credit Union accounts may be terminated at any time without notice. You will surrender your Card or cease to use your PIN whenever we ask for them. You will not allow any other person possession or use of the Card or PIN. It is your responsibility to prevent disclosure and unauthorized use of your Card and your PIN. If you allow any person to use your Card or your PIN, then you will be held liable for any of their use by that person, unless you notify us that the individual is no longer authorized by you to make Transactions on your accounts. We will, as soon as possible after notification, block further Transactions on your account.

RECOVERY

You agree that ITT Employees Federal Credit Union is entitled to recover any money owed by you as a result of your use of any of our services and you agree to repay any withdrawals which create an overdrawn balance on any of your account(s). The credit union has a security interest in all shares, future shares and deposits to any money you owe. If any legal action is required to enforce any provision of this agreement or to recover any money owed by you, you agree to pay all costs including attorney's fees.

AMENDMENTS

We reserve the right to change or add to these rules and regulations at any time, upon giving you reasonable notice at least 21 days prior to the effective date of the change. Such notice may consist of enclosing a notice on or in the statement of the account or mailing a notice in a special mailing to the last address on record in our files. Notice to any joint account holder of the Card or PIN is notice to all of you. In the event we determine that an immediate change is necessary to maintain or restore the security of the electronic fund transfer services or to any account, then we may make the necessary change without advising you in advance. We can delay enforcing any of our rights against you without losing them. We reserve the right to levy service fees in accordance with fee schedules adopted by the credit union from time to time. If other terms and conditions set by us are in conflict with the disclosure, this disclosure statement will prevail.

EQUIPMENT AND TECHNICAL REQUIREMENTS

I understand that to use Internet Account Access, I must have Internet Access through an Internet Provider, and Internet Browser software. I understand that the Credit Union does not make any warranties on equipment, hardware, software or Internet Provider Service, or any part of them, expressed or implied, including, without limitation, and warranties of merchantability or fitness for a particular purpose. The Credit Union is not responsible for any loss, injury or damages, whether direct, indirect, special or consequential, caused by the Internet Provider, any related software, or the Credit Union's Account Access or the use of any of them or arising in any way out of the installation, use or maintenance of your personal computer hardware, software or other equipment.

TYPES OF SERVICES/TRANSFERS AVAILABLE

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

You may access your account by telephone teller at 260-451-6436 or by computer using your personal identification number (PIN), account number(s), and access to the internet at www.ittefcu.org to:

I may designate accounts at the Credit Union between which I may transfer funds electronically through Internet Account Access. All these accounts must be in my name. I may designate accounts at the Credit Union in which to transfer funds, not in my name, provided all account owners (jointly held or otherwise) execute an agreement with the Credit Union acknowledging the processing of intra Credit Union transfers. Intra Credit Union transfer agreements can be obtained by contacting the Credit Union.

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

LIMITATIONS ON ELECTRONIC FUNDS TRANSFERS

The limit on your amount to transfer is the available balance in your account, plus your overdraft line of credit available balance. I authorize you to charge my account for any transactions accomplished through the use of Account Access, including the amount of any recurring payment that I make, and charge for this service. I authorize you to transfer funds electronically between my designated account(s) according to my instructions initiated through Account Access.

NOTE: UNDER FRB REGULATION D, TELEPHONIC (INCLUDING DATA TRANSMISSION) AND PREAUTHORIZED TRANSFERS FROM YOUR SHARE ACCOUNT TO ANOTHER ACCOUNT OF YOURS WITH US OR TO THIRD PARTIES ARE LIMITED TO A TOTAL OF SIX (6) PER MONTH, NO MORE THAN THREE (3) OF WHICH CAN BE MADE BY CHECK, DEBIT CARD OR SIMILAR ORDER PAYABLE TO THIRD PARTIES. AUTOMATED CLEARING HOUSE (ACH) DEBITS, INTERNAL FUNDS TRANSFERS AND TRANSFERS TO COVER OVERDRAFTS ARE INCLUDED WHEN CALCULATING THE NUMBER OF TRANSACTIONS SUBJECT TO THIS LIMITATION. WITHDRAWALS OR TRANSFERS MADE IN PERSON, BY ATM, BY MAIL OR BY MESSENGER ARE NOT LIMITED, AND THE LIMITATIONS ALSO DO NOT APPLY TO TRANSFERS FROM YOUR ACCOUNT TO MAKE A PAYMENT ON A LOAN WITH US OR TO WITHDRAWALS MADE BY TELEPHONE (VIA CHECK MAILED TO YOU).

FEES

For our current rate and fee schedule return to our web page and select Rates and Fees or click here

DOCUMENTATION OF TRANSFERS

You will receive a confirmation screen with reference information after every transfer you make. Your monthly statement will show all electronic fund transfers. Internet Account Access transfers are coded as "personal branch" transactions. Bill Payer transactions are treated as ACH withdrawals. Any documentation provided to you which indicates that an Electronic Funds Transfer has been made shall be admissible as evidence and proof that such a transfer was made.

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.

PRE-AUTHORIZED TRANSACTIONS

Pre-Authorized Payments. If a third party to whom you owe money makes, with your permission, arrangements to have funds transferred out of your share draft or savings account on a regular and pre-authorized basis in payment of your debt, we will make such transfers from your account(s) on your behalf. Preauthorized payments include electronic check transfers.

Pre-Authorized Credits/Direct Deposit. 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 260.451.6161 to find out whether or not the deposit has been made. You can also review your account history via Internet Account Access or Telephone Teller.

Pre-Authorized Deposits. You may pre-authorize deposits to be made to your share draft or share savings, or IRA account(s) from a third party on a regular basis.

PERIODIC STATEMENTS

You will get a monthly account statement from us for your share draft account(s).You will get a monthly account statement from us for your Share Savings account(s), unless there are no electronic transfers in a particular month. In any case, you will get a statement at least quarterly.

BUSINESS DAYS

Our business days are Monday through Friday 8:00 AM to 4:00 PM. Credit Union holidays are not included.

STOP PAYMENT PROCEDURES AND NOTICE OF VARYING AMOUNTS

ON AUTOMATIC CLEARING HOUSE (ACH) PRE-AUTHORIZED PAYMENTS

If you have requested an outside organization to charge your account you can stop any of these payments. For pre-authorized payments call (260) 451-6660 or write us (PO Box 12685, Fort Wayne, IN 46864) 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.

There is a $3.00 stop payment charge on all ACH stop payments.

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 which you prove are directly caused by our failure to stop payment. This pertains to Pre-authorized payments.

ON BILL PAYMENT AUTHORIZATIONS

To stop a payment before processing date you should delete/edit the authorized item from your bill payment authorization screen at least one (1) business day before the payment was to be processed. If you delete the authorization before processing date no fee will be charged.

On or after the processing date you must call M & I Data Services at 800-823-7555. We will charge you a $20.00 Bill Payment Stop Payment fee for each stop payment order you request. The stop pay fee will be added to your monthly Bill Payment charge posted on the 5th of the following month.

YOUR OBLIGATIONS

It is very important to keep your Visa, ATM, Internet Account Access and Telephone Teller PIN/PASSWORD confidential and separate from your Card(s) and/or account number to prevent someone from using it to make transactions without your permission.

Tell us immediately if you believe your Card(s) or PIN has been lost, stolen, or used without your permission. 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 a transaction is made with your Card(s) or PIN without your permission, and is either a Visa or Internet Account transaction, you will have no liability for the transaction, unless you were grossly negligent in the handling of your account or card. Your liability for unauthorized use of your Card(s) or PIN will be determined under the following paragraphs for transactions that are not Visa or Internet Account transactions, for transactions at ATMs, or if you were grossly negligent in the handling of your Account, Card(s), or PIN.

If you tell us within two business days, you can lose no more than $50 if someone used your Card(s) or PIN without your permission. If you do NOT tell us within two business days after you learn of the loss or theft of the Card(s) or PIN, and we can prove we could have stopped someone from using your Card(s) or PIN without your permission if you had told us, you could lose as much as $500.

Tell us immediately if your statement shows transfers that you did not make. 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 a hospital stay) kept you from telling us, we will extend the time periods.

NOTIFICATION OF LOSS

If you believe your ATM Card(s) or PIN has been lost or stolen or that someone has transferred or may transfer money from your account without your permission or a posting error on a direct deposit, call: (260) 451-6161

If you believe your VISA Card or PIN number has been lost or stolen call (800) 289-5939

If your Internet Account Access/Telephone Teller PIN has been compromised, immediately call Telephone Teller (260) 451-6436 and change your PIN number.

CREDIT UNION LIABILITY FOR FAILURE TO MAKE TRANSFERS

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 which you prove are directly caused by our action or failure to act. However, there are some exceptions to our liability. We will NOT be liable, for instance:

ACCOUNT INFORMATION DISCLOSURE

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

ERROR RESOLUTION PROCEDURES

IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC SERVICES:

Telephone or contact us at:

ITT Employees Federal Credit Union
PO Box 12685
Fort Wayne, IN 46864
Phone (260) 451-6161 Fax (260) 451-6442

Please contact us immediately if you think your statement or record of an electronic funds transfer is wrong or if you need more information about a transfer listed on the statement or record issued to you. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared. When you call or write to us in this regard, you should:

If you notify us verbally, 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 (20 business days if the transfer involved a point-of-sale transaction or a foreign-initiated transfer) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a point-of-sale transaction or a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will recredit your account within 10 business days (20 business days if the transfer involved a point-of-sale transaction or a foreign-initiated transfer) 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 recredit 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.

TERMINATION

ITT Employees Federal Credit Union reserves the right to refuse approval, to restrict, or to terminate this Agreement at any time for any reason and without notice:

You can terminate this Agreement either by closing your designated account(s) or by notifying ITT Employees Federal Credit Union in writing and no longer using the Card(s) and/or electronic services. You agree to allow ITT Employees Federal Credit Union 24 hours to terminate the electronic services after the notice is received. You are responsible for transactions during this time. Revocation or termination shall not affect existing liabilities on transactions made prior to the termination of this Agreement

Copyright© 2004 ITT Employees FCU. All Rights Reserved.