Online Banking Agreement, Online Bill Payer Agreement, and Electronic Funds Transfer Disclosure

This Agreement and Disclosure provides information about Como Northtown Community Credit Union's Online Banking service (Home Financial Services), Online Bill Payer Agreement, and the disclosures required by the Electronic Funds Transfer Act. For the purpose of this document, "I", "me", "my", and "mine" shall refer to each Member who is eligible and signs up for Home Financial Services."You", "your", or "Credit Union" shall refer to Como Northtown Community Credit Union where the Member has the account accessed through Home Financial Services. All references to time of day in this Agreement and Disclosure refer to Central Standard Time (CST).

Online Banking Agreement

A. Eligibility:
I understand that in order to use Home Financial Services, I must have an account with Como Northtown Community Credit Union and a self chosen Personal Identification Number (PIN) with the Credit Union. I may become eligible for Home Financial Services Online Bill Payer by completing and submitting an application (a CNCCU checking account is required for the Bill Payer service). Applications can be obtained online or by contacting the Credit Union.

B. Equipment and Technical Requirements:
I understand that to use Home Financial Services, I must have Internet Access through an Internet Service Provider, and Internet Browser software. Each of these versions must be capable of using Secure Socket Layer (SSL) technology encryption. I understand that the Credit Union does not make any warranties on equipment, hardware, software or Internet Service 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 Service Provider, any related software, or the Credit Union's Home Financial Services 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.

C. General Information About Home Financial Services:
I may use Home Financial Services virtually any time, day or night, 7 days a week to (1) check account balances, (2) transfer money within the same account, (3) check the history on my accounts, (4) sign up to receive eStatements,  (5) pay most bills with Home Financial Services Online Bill Payer and (6) obtain Credit Union product and service information. However, Home Financial Services may be temporarily unavailable due to Credit Union record updating or technical difficulties. Each service is discussed further in this Agreement and Disclosure.  I authorize you to charge my designated account(s) for any transactions accomplished through the use of Home Financial Services, including the amount of any recurring payment that I make, and charge for this service. If I have not designated an overdraft source or those sources do not have sufficient funds available, you may transfer funds from any account(s) to which I am a party, and/or pay the charge and that you may assess me a fee for this service as listed in the current "Service Fees Schedule". I authorize you to transfer funds electronically between my designated account(s) according to instructions issued through Home Financial Services. Upon completion of a transaction using Home Financial Services, a confirmation will be given. I should record this confirmation, along with the payee, scheduled date and transaction amount in my checkbook register (or other permanent record), because this will help in resolving any problems that may occur. No printed receipts are issued through Home Financial Services.

D. Transfers within and out of my account:
I understand that transfers within my account and transfers to other Como Northtown Community Credit Union accounts will be processed immediately once the transaction has been completed. Sufficient funds must be available at the time I request the transaction. Transfer requests may not be canceled for any reason once I confirm the transfer.

E. Bill Payments:
All payments I make through Home Financial Services Online Bill Payer will be deducted from my primary checking account. Any payee I wish to pay through Home Financial Services must be payable in U.S. Dollars and the delivery address must also be in the United States. Each payee must appear on the payee list I create with you and the account I am paying must be in my name. I may designate any bill payment as a "Future" payment and a "Recurring" payment. Bill payment may not be available for the current day.

• "Future Bill Payments". All bill payments are considered future payments. Bill payments may be scheduled as early as the next business day or any business day in the future. The processing date will be the date payment is sent to the payee I designate. The amount of my bill payment will be deducted from my primary checking account on the first business day after the "processing" date.
• "Recurring". If I designate a payment as a "Recurring" transaction, I may request that the transaction be made in the same amount to the same payee on a specified regular, periodic basis (i.e. weekly, bi-weekly, monthly, etc). I will designate a "final" payment date. The processing date will be the business date I entered. The amount of my bill payment will be deducted from my primary checking account on the first business day after the "processing" date.

I must allow sufficient time (a minimum of 5 days) for the payee to receive and process the payment before the payment due date (the due date shown on my invoice or provided in my agreement with the payee, not taking into account any grace period provided by the payee). If I do not allow sufficient time, I will assume full responsibility for all late fees, finance charges, or other actions taken by the payee.

IMPORTANT: Payments may take up to 10 days to reach the vendor (payee) if indicated they will be paid by check. If the vendor has designated that they will accept electronic payments (the bill payment system will indicate how the vendor will accept payment), the payment can take up to 3 days to reach the vendor. Como Northtown Community Credit Union is not liable for any service or late charges levied against me. The Credit Union is responsible only for exercising ordinary care in making payments upon my authorization and for mailing or sending a payment to the designated merchant in accordance with Section E of the Agreement and Disclosure. The Credit Union is not liable in any way for damages I incur if I do not have sufficient available funds in my account to make the payment on the processing date, or due to delays in mail delivery, changes of merchant address or account number, the failure of any merchant to account correctly for or credit the payment in a timely manner, or for any other circumstances beyond the control of the Credit Union.

To take advantage of this service, I must keep the Credit Union aware of any changes in my current home or business phone numbers, addresses, and E-Mail address(es).  In all cases, I am responsible for either making alternate arrangements for the payment, or rescheduling the payment through Home Financial Services Online Bill Payer. Insufficient available funds will prevent me from making more payments until resolved. In addition, you may charge me a fee, in accordance with your "Service Fee Schedule", for having insufficient funds or for any manual processing required to effect any payment authorized by me.

I authorize you, and any third-party acting on your behalf, to choose the most effective method to process my payments. The Credit Union reserves the right to refuse to make any payments, but I will be notified of any such refusal.

F. Account Information:
I may check the balance(s) of my Credit Union accounts through Home Financial Services. I may also get a listing of transactions (an "interim statement") posted on each of my accounts since my last monthly statement.

G. Stopping or Modifying Home Financial Services Authorized Payments:
You can change or stop a payment prior to the cut-off time on the processing date you originally scheduled. (You will not be able to change the date on a recurring payment; however you can stop and reschedule the payment.) The cut-off time is 3:00 P.M. CST.

H. Fees:
There are no monthly, annual or transaction fees associated with Home Financial Services Online Banking and/or Home Financial Services Online Bill Payer. Fees apply only to transactions that would normally incur a fee as stated in our Service Fees Schedule and as listed under "Additional Fees" in the Bill Payer Agreement.

I. Liability for Unauthorized Use:
I will immediately change my Online Banking/Bill Payer PIN if I believe that it has become known to an unauthorized person. If I report that an unauthorized transfer or payment may have occurred, you may require me to sign an affidavit.

Also, if my statement shows electronic funds transfers that I did not make, I will notify you immediately. You may require me to provide my complaint in the form of an affidavit. If I do not tell you within 60 days after the statement was mailed to me, I may not get back any money I lost after the 60 days if you can prove that you could have stopped someone from taking the money if I had told you in time. If a good reason (such as a long trip or a hospital stay) kept me from telling you, you may extend the time periods.

J. Address and Telephone Number:
If I believe that someone has transferred money or made payments without my permission, I will call the Credit Union Telephone Service Center at (651) 488-2535, or write to Como Northtown Community Credit Union, ATTN: Online Banking Dept., 976 North Lexington Parkway, St. Paul, MN 55103.

K. Other Terms & Conditions:
You may occasionally introduce new services to enhance the existing program. You shall notify me of these new enhanced services via the Internet, direct mail, or telephone.  Also, by utilizing these services, I agree to be bound by the obligations and conditions concerning these services.

In addition to the terms set forth in this agreement, I agree to be bound by all the terms and conditions of any separate users manual that I may be provided in conjunction with this system and any and all applicable state and federal laws and regulations.

You reserve the right to terminate my use of the Home Financial Services service, in whole or part, at any time without prior notice.

If I wish to discontinue using your Home Financial Services program, then I agree to notify you at that time. I will be responsible for all payment instructions made prior to termination and for all other applicable charges and fees. I will cancel all outstanding payment orders before notifying you to terminate this service.
This agreement, any user's manual, and the applicable fees and charges may be amended by you in the future. In the event of amendment, you shall send notice to me either by posting at www.comocu.org, mail or E-Mail to my last known address or transmit such notice of the amendment over the Home Financial Services service. My use of the Home Financial Services service following the receipt of such notice constitutes acceptance of such amendment.

If I believe an error other than an electronic funds transfer problem has occurred concerning a deposit account or if I have a problem regarding a loan account, I will refer to my monthly statement for instructions regarding how to have you resolve my question or correct an error.

I am responsible for complying with all terms of this Agreement and Disclosure and the regulations governing the deposit accounts which I access using Home Financial Services. You can terminate my Home Financial Services privileges without notice to me if I do not pay any fee required in this Agreement and Disclosure when due or if I do not comply with those agreements. The regulations governing my share accounts are set forth in your Share Account Agreement and Truth-in-Savings Disclosures, a copy of which is available from any branch location or by calling the Credit Union at (651) 488-2535.

Bill Payer Agreement
This is your bill paying agreement with Como Northtown Community Credit Union. You may use Como Northtown Community Credit Union’s bill paying service, Home Financial Services Bill Payer, to direct Como Northtown Community Credit Union to make payments from your designated CNCCU checking (account) to the Merchants you choose in accordance with this agreement. The terms and conditions of this Agreement are in addition to the Account agreements, disclosures and other documents in effect from time to time governing your Account (the Account Rules).

"You" or "your" means each person who signs the bill paying enrollment form or is otherwise authorized to use the Service. "Merchant" means anyone, including the Financial Institution, you designate and the Financial Institution accepts as a payee.

How To Set Up Bill Payer
Complete a Bill Payer enrollment form online by choosing the Online Banking/Bill Payer Application from the websites "Applications and Forms" menu (www.comocu.org) or by pressing the "Sign Up" button on the Bill Payer page of our website. We will notify you by email that we have received your request and give you instructions on how to begin (generally a minimum of 3 business days). You may then begin to use the service.

Accessing The Service
Simply log in to Home Financial Services Online Banking , enter your User ID (your 6-digit account number) and Password/PIN. Next, click on the Bill Payer tab to access the service.

The Bill Paying Process
The Financial Institution will process variable payments on the business day (generally Monday through Friday, except holidays) you designate the bill is to be processed, provided the payment request is received prior to the cut-off time set by the Financial Institution, which is currently 3:00 p.m. CST. Variable bill requests received after the business day cut off time, or at any time on a non-business day will be processed on the next business day. The Financial Institution reserves its right to change the cut-off time by giving you notice if it changes.

FOR RECURRING PAYMENT REQUESTS, IF YOU DESIGNATE A PROCESSING DATE OF THE 28TH THROUGH THE 31ST OF A MONTH, PROCESSING WILL BE INITIATED ON THE LAST CALENDAR DAY OF THE MONTH. Otherwise, recurring payment requests will be processed on the dates you have designated, unless such date falls on a non-business day resulting in your payment being processed on the next business day.

YOU MUST ALLOW AT LEAST FIVE (5) BUSINESS DAYS, PRIOR TO THE DUE DATE, FOR EACH BILL PAYMENT (RECURRING OR VARIABLE) TO REACH THE MERCHANT.  (IT IS THE RESPONSIBILITY OF THE SUBSCRIBER TO SCHEDULE/ACTIVATE RECURRING PAYMENTS)  You agree to have available and collected funds on deposit in the account you designate in amounts sufficient to pay for all Bill Payments requested, as well as, any other payment obligations you have to the Financial Institution. The Financial Institution reserves the right, without liability, to reject or reverse a Bill Payment if you fail to comply with this requirement or any other terms of this agreement. If you do not have sufficient funds in the Account and the Financial Institution has not exercised its right to reverse or reject a Bill Payment, you agree to pay for such payment obligations on demand. You further agree the Financial Institution, at its option, may charge any of your accounts with the Financial Institution to cover such payment obligations. Any Bill Payment can be changed or canceled, provided you access the Service prior to the cut-off time on the business day prior to the business day the Bill Payment is going to be initiated.

Liability
You are solely responsible for controlling the safekeeping of, and access to, your Personal Identification Number (PIN) or password. You are liable for all transactions you make or that you authorize another person to make even if that person exceeds his or her authority. If you want to terminate another person's authority, you must notify the Financial Institution and arrange to change your PIN. You will be responsible for any Bill Payment request you make that contains an error or is a duplicate of another Bill Payment. The Financial Institution is not responsible for a Bill Payment that is not made if you did not properly follow the instructions for making a Bill Payment. The Financial Institution is not liable for any failure to make a Bill Payment if you fail to promptly notify the Financial Institution after you learn that you have not received credit from a Merchant for a Bill Payment. The Financial Institution is not responsible if a Bill Payment can not be made due to incomplete, incorrect, or outdated information provided by you regarding a Merchant or if you attempt to pay a Merchant that is not on your Authorized Payee list. The Financial Institution is not responsible for your acts or omissions or those of any other person, including, without limitation, any transmission or communications facility, and no such party shall be deemed to be the Financial Institution's agent. In any event, the Financial Institution will not be liable for any special, consequential, incidental, or punitive losses, damages, or expenses in connection with this Agreement or the Service, even if the Financial Institution has knowledge of the possibility of them. The Financial Institution is not liable for any act, failure to act or delay in acting if it is caused, in whole or in part, by any cause beyond the Financial Institution's reasonable control.

Amendment and Termination
The Financial Institution has the right to change this Agreement at any time by notice mailed to you at the last address shown for the Account on the Financial Institution's records, by posting notice in branches of the Financial Institution, or as otherwise permitted by law. The Financial Institution has the right to terminate this Agreement at any time. You may terminate this Agreement by written notice to the Financial Institution. The Financial Institution is not responsible for any fixed payment made before the Financial Institution has a reasonable opportunity to act on your termination notice. You remain obligated for any payments made by the Financial Institution on your behalf. Termination due to inactivity. If you have not paid any bills through your Bill Payer service for 3 consecutive months, your Bill Payer service may be deactivated. In order to reactivate your Bill Payer service, you must complete the online sign up form.

Fees
There are no monthly, annual or transaction fees associated with Home Financial Services Online Banking and/or Home Financial Services Online Bill Payer. Fees apply only to transactions that would normally incur a fee as stated in our Service Fees Schedule and for the purposes listed below.

Additional Charges for Customer requested Services and Other Items

These charges will only be assessed if you request one or more of the services listed here. There will be NO charge for any item if needed to correct a Financial Institution error.

Written Correspondence to Merchant..................................................................$10.00
Per proof of Payment not necessitated by a dispute..............................................$10.00
Payments returned due to customer error..............................................................$5.00

The Financial Institution reserves the right to charge you for research time involving payments no longer available in your screen history. You will be informed of any such charges before they are incurred.

Electronic Services Disclosure and Agreement

This EFT Disclosure and Agreement as amended from time to time ("Agreement") sets forth the terms and conditions governing the use of the Como Northtown Community Credit Union electronic transfer services. Disclosure information that applies to all electronic services offered by Como Northtown Community 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 Como Northtown Community 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 Como Northtown Community Credit Union.

Personal Identification Number
Depending on the service, either you will choose or we will issue you a Personal Identification Number (PIN). This number should be memorized and not written. Your accounts can only be accessed by the use of an access device with the PIN. If you forget your PIN, contact the Credit Union or follow the instructions in our Frequently Asked Questions section of our website.

Right To Receive Documentation of Transactions
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.

Your Liability for Unauthorized Transactions
Tell us AT ONCE if you believe your ATM/Debit Card and/or PIN has been lost or stolen. Telephoning is the best way of keeping your possible losses down. If you have authorized someone else to use the ATM/Debit 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.

How to Notify the Credit Union in the Event of an Unauthorized Transaction
If you believe your ATM/POS Card, Check 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 (800) 840-2612.

BUSINESS DAYS
Our business days are Monday through Friday, excluding normal banking holidays and published scheduled closings.

Our Liability for Failure to Make Transfers
If we do not complete a transaction to or from your share/savings or share draft checking account on time or in the correct amount according to our agreement with you, we may 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 transaction;
• You do not have a valid transaction receipt number;
• The transaction would go over the credit limit on your credit line;
• The terminal where you were making the transaction did not have enough cash;
• The ATM or network system was not working properly and you were aware of the malfunction when you started the transaction;
• Circumstances beyond our control (such as fire, flood, power failure, or computer down-time) prevented the transaction, despite reasonable precautions that we have taken;
• The money in your account is subject to an uncollected funds hold, legal process or any other encumbrance or agreement restricting a transaction;
• Your ATM/Debit Card has expired, is damaged so that the terminal cannot read the encoding strip, is inactive or because your PIN has been entered incorrectly;
• Your ATM/Debit Card or PIN has been reported lost or stolen and we have blocked the account; or
• The failure to complete the transaction is done to protect the integrity of the system or to protect the security of your account.
• The failure to properly complete the transaction is done due to user inability.

There may be other exceptions not specifically mentioned above.

In Case of Errors or Questions About Your Electronic Transfers
Email us at mailtmembers@comocu.org, call us at (651) 488-2535, or write to us at Como Northtown Community Credit Union, 976 North Lexington Parkway, St. Paul, MN 55103, 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.

1. Tell us your name and account number (if any).
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 and/or why you need more information.
3. 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 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.

• If you give notice of an error within 30 days after you make the first deposit to your account, we will have 20 business days instead of 10 business days.
• If you notice an error within 30 days after you make the first deposit to your account, notice of an error involving a point of sale transaction, or notice of an error involving a transaction initiated outside the U.S. its possessions and territories, we will have 90 days instead of 45 to investigate.
  

Disclosure of Account Information to Third Parties
We will disclose information to third parties about your account or the transfers you make:

• When it is necessary to complete the transaction;
• In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant;
• In order to comply with government agency or court orders or other legal process; or
• If you give us your prior oral or written permission.

Address Change
Keep the Credit Union informed of your current address to insure correct mailing of monthly statements.

Amendments
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. Or, we may notify you via E-mail with directions to the amended terms and conditions posted on our website. If any change results in greater cost or liability to you or decreases access to your Accounts, you will be given at least fourteen (14) 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, POS Cards or designated accounts.

Termination
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/POS Card or PIN with or without cause. We may do so immediately if:

• You or any authorized user of your ATM/POS Card, PIN or account breaches this or any other agreement with the Credit Union;
• We have reason to believe that there has been, or might be, an unauthorized use of your ATM Card, POS Card, PIN or account; or
• You or any authorized user of your ATM/POS Card, PIN or account request that we do so.

Collection Costs
You agree to pay the Credit Union our reasonable expenses, including court costs and attorney's fees, for enforcing our rights under this Agreement.

Additional Benefits/Card Enhancements
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.

Waiver of Rights
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.

Other Agreements
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.

Severability
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.

Who is Bound by this Agreement
Each person who submits or signs the Application agrees to be bound by the terms and conditions of this Agreement. If more than one person submits or signs the application, all 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.

Signatures
By using your access to the system, or authorizing anyone else to use your access to the system, and/or by signing or submitting the application, you agree to be bound by the terms and conditions of this Agreement and Disclosure.

Limitations on Transactions
Additional Regulations Relating to Fund Transfers

1. This agreement and notice applies to funds transfers as defined in the Article 4A of the Uniform Commercial Code and Subpart B of Regulation J of the Board of Governors of the Federal Reserve System.
2. The Credit Union may establish or change cut-off times for the receipt and processing of funds transfer requests, amendments, or cancellations. Unless other times are posted for the various types of funds transfers, the cut-off time will be 11:00 AM on each weekday that the Credit Union is open excluding holidays. Payment orders, cancellations, or amendments received after the applicable cut-off time may be treated as having been received on the next funds transfer business day and processed accordingly.
3. The Credit Union may charge your account for the amount of any funds transfer initiated by the member or any person authorized by the account owner as a joint tenant or other authorized party with the right of access to the account from which the funds transfer is to be made.
4. The Credit Union may establish, from time to time, security procedures to verify the authenticity of a payment order. The account owner will be notified of the security procedure, if any, to be used to verify payment orders issued by the account owner or for which the account owner's account will be liable. The account owner agrees that the authenticity of payment orders may be verified using that security procedure unless the account owner notifies the Credit Union in writing that he/she does not agree to that security procedure. In that event, the Credit Union shall have no obligation to accept any payment order from the account owner or other authorized parties on the account until the account owner and the Credit Union agree, in writing, on an alternate security procedure.
5. If the account owner gives the Credit Union a payment order which identifies the beneficiary (recipient of the funds) by both name and identifying or account number, payment may be made by the credit union on the basis of the identifying or bank account number, even if the number identifies a person different than the named beneficiary. This means that the account owner will be responsible to the Credit Union if the funds transfer is completed on the basis of the identification number provided to the Credit Union by the account owner.
6. If the account owner gives the Credit Union a payment order which identifies an intermediary or beneficiary's bank by both name and an identifying number, a receiving bank may rely on the number as the proper identification even if it identifies a different person than the named bank. This means that the account owner will be responsible for any loss or expenses incurred by a receiving bank which executes or attempts to execute the payment order in reliance on the identifying number provided by the account owner.
7. The Credit Union may at its discretion give the account owner credit for automated clearinghouse (ACH) payments before it receives final settlement of the funds transfer. Any such credit is provisional until the Credit Union receives final settlement of the payment. The account owner is hereby notified and agrees, if the Credit Union does not receive such final settlement, that it is entitled to a refund from the account owner of the amount credited to the account owner in connection with that ACH entry. This means that the Credit Union may provide the account owner with access to ACH funds before the Credit Union actually receives the money. However, if the Credit Union does not receive the money, then the Credit Union may reverse the entry on the account owner's account and the account owner would be liable to repay the Credit Union.
8. ACH transactions are governed by operating rules of the National Automated Clearing House Association. In accordance with these rules, the Credit Union will not provide the account owner with next day notice of receipt of ACH credit transfers to the account owner's account. The account owner will continue to receive notices of receipt of ACH items in the periodic account statements, which we provide.
9. If the Credit Union received a funds transfer for an account owner or for other persons authorized to have access to the account owner's account, the account owner agrees that the Credit Union is not obligated to provide the account owner with next day notice of the receipt of the funds transfer. The Credit Union will provide the account owner with notification of the receipt of all funds transfers by including such items in the periodic account statements, which we provide. The account owner may, of course, inquire between receipt of periodic statements whether or not a specific funds transfer has been received.
10. If the Credit Union becomes obligated under Article 4A to pay interest to the account owner, the account owner agrees that the rate of interest to be paid shall be equal to the dividend rate, on a daily basis, applicable to the account at the Credit Union to which the funds transfer should have been made or from which the funds transfer was made.