Membership Agreement & Disclosure

• The Credit Union will terminate from membership a member who fails to complete payment of one share in savings within 30 days of his admission to membership, or
• Fails to complete payment of one share in savings within 30 days from the increase in the par value of shares, or
• Reduces the share balance below the par value of one share in savings and does not increase the balance to at least the par value of one share in savings within 30 days of the reduction.

The maximum amount of savings which may be held by any one member shall be established from time to time by resolution of the board.

Savings may be transferred only from one member to another, by written instrument in such form as the Credit Union may prescribe. No transfer of voting rights or other membership privilege is permitted by virtue of transfer to or co-ownership of savings by nonmembers. The Credit Union reserves the right, at any time, to require members to give, in writing, not less than 7 days and not more than 60 days notice of intention to withdraw the whole or any part of the amounts so paid in by them

No member may withdraw shareholdings that are pledged as required for security on loans without the written approval of the senior loan officer, except to the extent that such savings exceed the member’s total primary and contingent liability to the Credit Union. No member may withdraw any shareholdings below the amount of his/her primary or contingent liability to the Credit Union if he/she is delinquent as a borrower, or if borrowers for whom he/she is comaker, endorser, or guarantor are delinquent, without the written consent of the senior loan officer.

You must open a Savings Account to open any other share or loan account. You must maintain the Savings Account to avoid closure of that account and any subsequent accounts.

Accounts with no activity for twelve (12) consecutive months will be assessed the Inactive Account Fee stated on the Schedule of Fees and Charges.  You may avoid this fee if you meet any one of the following criteria:

• You are a member under 18 years of age;
• You maintain an aggregate balance of $250 or more in your account

The Credit Union at its sole discretion may close an account at any time and remit the balance to you at the last address on file. Closure of an account will not affect the obligation to pay any outstanding balances of charges owed. Accrued dividends may be forfeited if the Credit Union closes your account.

The Credit Union reserves the right to limit, restrict or deny any credit union product(s) or service(s) in accordance with our Limitation of Services Policy to any Member who: (i) causes a loss to the Credit Union; (ii) misuses any Credit Union product or service; which may include and is not limited to attempt to structure transactions in order to evade currency reporting requirements; (iii) mistreats any Credit Union team member or volunteers; (iv) provides false or misleading information in connection with any transaction or Credit Union product or service; (v) is convicted of a crime or is directly involved in any fraudulent activity; or (vi) fails to comply with the terms and conditions of any agreement with the Credit Union. Notwithstanding, all Members retain the right to maintain a basic share account and to vote in annual and special meetings. No action to limit, restrict or deny services will relieve a Member of the obligation to pay any outstanding balances, charges, or other amounts owed to the Credit Union.

Account Holder(s) agree(s) to indemnify and hold the credit union harmless from and against all claims, actions, damages, losses, and expenses, including attorneys’ fees, as a result of any action or inaction taken in relation to the matters described here.

Any limitation or restriction of services will be reasonably related to the nature of the Member’s conduct. A Member will be provided reasonable advance written notice before any restriction of services is implemented, unless circumstances warrant more immediate action.

The maximum amount you may withdraw in cash at any SCE FCU branch location is $2,000 a day unless you contact us 5 business days in advance to arrange for a higher amount which is subject to availability. Withdrawals made at shared branch (non-SCE FCU) locations are also limited to $25,000 for check withdrawals or $1,000 for cash withdrawals unless authorization is obtained by the shared branch outlet.

You may elect to add a security password to your account as an added method to authenticate your identity when accessing your account information or conducting transactions over the phone. The password should be information known only to you. Sharing your password is strictly prohibited. You are responsible for the protection of your password and agree to immediately report to us if you suspect your password has been compromised in any way. You also agree to indemnify and hold the Credit Union harmless for any claims resulting from reliance on the password.

To the extent permitted by the Federal Arbitration Act (the “FAA”) and any other applicable federal law, binding arbitration may be elected by either party with respect to any past, present or future claim or controversy arising out of or relating to this Agreement and/or a Credit Union account, even if that party has already initiated a lawsuit with respect to a different claim.  Arbitration is elected by giving a written demand for arbitration to the other party, by filing a motion to compel arbitration in court, or by initiating arbitration against the other party. You and we agree, upon such written demand, motion or initiation, to submit to, and that such claim shall be settled by, binding arbitration. 
The arbitration will be subject to the Rules of the American Arbitration Association (“AAA”) in effect at the time the arbitration is initiated, or such similar rules as may be adopted by AAA.  Neither party will demand the arbitration of an action filed in small claims court, or its state’s equivalent court, for any claim or dispute within the scope of the small claims court’s jurisdiction. But if a claim is transferred, removed or appealed to a different court, such claim shall be subject to arbitration.

This arbitration provision shall be interpreted and enforced in accordance with the FAA by a single arbitrator appointed by the AAA.  The arbitrator shall be an attorney, retired judge or AAA panel member with experience and knowledge regarding financial institutions and transactions.

Each party shall pay its own fees and costs of the arbitration pursuant to this Agreement unless otherwise required by law.

In each case, each party will pay for its own attorney fees and costs, if any, for prosecuting and defending claims, except that the arbitrator may award the prevailing party all its attorney fees and costs, including expert witness fees.

Arbitration hearings will be held in a location reasonably convenient to your residence, or at another location if mutually agreed.  Any issue concerning whether or the extent to which a dispute or claim is subject to arbitration, including issues relating to the validity or enforceability of these arbitration provisions, shall be determined by the arbitrator. Only a court, and not an arbitrator, however, shall determine the validity and effect of the class action and jury trial waivers below. All statutes of limitations or other defenses relating to the timeliness of the assertion of a dispute or claim that otherwise would be applicable to an action brought in a court of law must be followed by the arbitrator, and the commencement of an arbitration under this Agreement shall be deemed the commencement of an action for such purposes. The arbitrator’s decision shall be final and binding and may be entered in any state or federal court having jurisdiction.  The arbitrator may award any remedy provided by the substantive law that would apply if the action were pending in court. For more details, check the American Arbitration Association’s website OR call the American Arbitration Association’s Customer Service at 800.778.7879.

We each agree that any and all disputes, whether submitted to arbitration or decided by a court, must be brought in the party's individual capacity and not as a Class Action plaintiff or class member in any purported class or representative proceeding. You agree to waive the right to participate in a Class Action or litigate on a class-wide basis. You agree that you have expressly and knowingly waived these rights. You and the Credit Union hereby voluntarily and knowingly waive the right to trial by jury of all disputes, controversies and claims by, between or against either you or the Credit Union whether the dispute, controversy or claim is submitted to arbitration or is decided by a court, to the fullest extent allowed by law.

If you do not want this Arbitration & Waiver of Class Action & Jury Trial provision to apply, you may opt-out by sending a written request to the Credit Union postmarked within sixty (60) days of your receipt of this agreement. The opt-out must include your full name, address, telephone number, account number, and personal signature, and must be mailed to SCE Federal Credit Union, PO Box 8017, El Monte CA 91734. Opting out will not terminate this agreement or affect any other rights and obligations you or the Credit Union have under this agreement.

Minimum balance and deposit requirements
The minimum deposit required for you to open your Savings Account is $5. You must maintain a minimum balance of $250 to obtain the Annual Percentage Yield stated on the Rate Schedule. If the account balance falls below the minimum required balance you will not receive any accrued dividends.

Dividend compounding and crediting
Dividends will be compounded quarterly and will be credited quarterly. For the Savings Account the dividend period is quarterly. For example, the beginning date of the first dividend period of the calendar year is January 1st and the ending date is March 31st. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period. The most recent dividend declaration date is reflected on the accompanying Rate Schedule.

Transaction limitations
The maximum number of withdrawals you may make is 6 within a calendar month. Refer to the Savings Account Agreement section for additional transaction limitations. If you exceed the withdrawal limitations in any calendar month, your account will be subject to the fee stated on the Fee Schedule.

Our No Dividend Savings Account is a non-dividend earning account.

Minimum balance and deposit requirements
The minimum deposit required for you to open your No Dividend Savings Account is $5. No minimum balance requirements apply to this account.

Transaction limitations
The maximum number of withdrawals you may make from your No Dividend Savings Account is 6 within a calendar month. Refer to the Savings Account Agreement section for additional transaction limitations. If you exceed the withdrawal limitations in any calendar month, your account will be subject to the fee stated on the Fee Schedule.

Our Youth Savings Account is a savings account for members under 18 years of age.

Minimum balance and deposit requirements
The minimum deposit required for you to open your Youth Savings Account is $5. You must maintain a balance to obtain the Annual Percentage Yield stated on the accompanying Rate Schedule.

Dividend compounding and crediting
Dividends will be compounded quarterly and will be credited quarterly. For the Youth Savings Account, the dividend period is quarterly. For example, the beginning date of the first dividend period of the calendar year is January 1st and the ending date is March 31st. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period. The most recent dividend declaration date is reflected on the accompanying Rate Schedule.

Transaction limitations
The maximum number of withdrawals you may make from your Youth Savings Account is 6 within a calendar month. Refer to the Savings Account Agreement section for additional transaction limitations. If you exceed the withdrawal limitations in any calendar month, your account will be subject to the fee stated on the Fee Schedule.

At the age of 18, the Youth Savings Account will be converted to a Prime Savings Account (refer to “Prime Savings Account” for additional account information).

Our Money Market Account is a tiered variable rate savings account.

Minimum balance and deposit requirements
The minimum deposit required to open a Money Market Account and the minimum balance required to obtain the Annual Percentage Yield are indicated for each tier on the accompanying Rate Schedule. The dividend rate and the Annual Percentage Yield are based on the entire daily balance of the tiered accounts. If your daily balance is increased or decreased, the dividend rate and the Annual Percentage Yield for the appropriate tier will be paid on the entire daily balance in your account.

Dividend compounding and crediting
Dividends will be compounded monthly and will be credited monthly. For the Money Market Account the period is monthly. For example, the beginning date of the first dividend period of the calendar year is January 1st and the ending date is January 31st . All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period. The most recent dividend declaration date is reflected on the accompanying Rate Schedule.

Transaction limitations
No more than six preauthorized, automatic, online or telephonic transfers made to another account at the Credit Union or to a third party or no more than six transfers or withdrawals made by check, draft, debit card or similar order payable to a third party may be made from each savings account or money market deposit account in any calendar month. If an Account Holder exceeds, or attempts to exceed, these transfer limits, the excess transfer requests may be refused or reversed, a fee may be imposed on the excess transfer requests, and the Credit Union may reclassify or close the account. Transfers initiated by telephone must be counted among the six-monthly transfers, except that there are no limits on the number of withdrawals paid directly to an Account Holder when initiated by mail, telephone or messenger. There are no limits on the number of withdrawals if initiated in person.

Minimum balance and deposit requirements
There are no minimum deposit or balance requirements for your Super Saver Account.

Dividend compounding and crediting
Dividends will be compounded quarterly and will be credited quarterly. For the Super Saver Account the dividend period is quarterly. For example, the beginning date of the first dividend period of the calendar year is January 1st and the ending date is March 31st. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period. The most recent dividend declaration date is reflected on the accompanying Rate Schedule.

Transaction limitations
The maximum number of withdrawals you may make is 2 within a calendar year. If you exceed the withdrawal limitations in any calendar year, your account will be subject to the fee stated on the Fee Schedule. 

Our Youth Super Saver Account is a savings account for members under 18 years of age.

Minimum balance and deposit requirements
There are no minimum deposit or balance requirements for you to open your Youth Super Saver Account.

Dividend compounding and crediting
Dividends will be compounded quarterly and will be credited quarterly. For the Youth Super Saver Account, the dividend period is quarterly. For example, the beginning date of the first dividend period of the calendar year is January 1st and the ending date is March 31st. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period. The most recent dividend declaration date is reflected on the accompanying Rate Schedule.

Transaction limitations
The maximum number of withdrawals you may make from your Youth Super Saver Account is 4 within a calendar year. If you exceed the withdrawal limitations in any calendar year, your account will be subject to the fee stated on the Fee Schedule.

At the age of 18, the Youth Super Saver Account will be closed and the account balance will be transferred to a Savings Account (refer to “Prime Savings Account” for additional account information).

Minimum balance and deposit requirements
The minimum deposit required for you to open your Vacation Club Account is $10. There is no minimum balance requirement for our Vacation Club Account.

Dividend compounding and crediting
Dividends will be compounded monthly and will be credited monthly. For the Vacation Club Account the dividend period is monthly. For example, the beginning date of the first dividend period of the calendar year is January 1st and the ending date is January 31st. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period. The most recent dividend declaration date is reflected on the accompanying Rate Schedule.

Transaction limitations
Your Vacation Club Account may be opened at any time. Funds will be disbursed to you on or about June 1st. No withdrawals may be made without penalty. If a withdrawal is necessary, the account will be subject to an early withdrawal fee as stated on the accompanying Fee Schedule.

Minimum balance and deposit requirements
The minimum deposit required for you to open your Holiday Club Account is $10. There is no minimum balance requirement for our Holiday Club Account.

Dividend compounding and crediting
Dividends will be compounded monthly and will be credited monthly. For the Holiday Club Account the dividend period is monthly. For example, the beginning date of the first dividend period of the calendar year is January 1st and the ending date is January 31st. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period. The most recent dividend declaration date is reflected on the accompanying Rate Schedule.

Transaction limitations
Your Holiday Club Account may be opened at any time. Funds will be disbursed to you on or about November 1st. No withdrawals may be made without penalty. If a withdrawal is necessary, the account will be subject to an early withdrawal fee as stated on the accompanying Fee Schedule. 

Roth, Traditional and Coverdell Education Savings Accounts

Minimum balance and deposit requirements
There is no minimum deposit required to open your IRA Savings Account. There is no minimum balance required to obtain the Annual Percentage Yield as stated on the accompanying Rate Schedule.

Dividend compounding and crediting
Dividends will be compounded monthly and will be credited monthly. For the IRA Savings Accounts the dividend period is monthly. For example, the beginning date of the first dividend period of the calendar year is January 1st and the ending date is January 31st. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period. The most recent dividend declaration date is reflected on the accompanying Rate Schedule.

Incorporation of IRA Agreement & Disclosures
All other terms and disclosures for our Individual Retirement Accounts are contained in the Credit Union’s Individual Retirement Account agreement and disclosure statement, which by this reference is incorporated into this account disclosure in its entirety. When you open your Individual Retirement Account, the Credit Union agreement and disclosure statement will be provided to you.

Our Teen Checking Account is available to eligible members between 12 to 17 years of age. Upon reaching 18 years old, the Teen Checking Account will convert to a Free Checking Account.

Minimum balance and deposit requirements
There is no minimum balance required to open a Teen Checking Account.

The Fresh Start Checking Account is available to eligible members who have had a record reported to a consumer reporting agency.  If the Fresh Start Checking Account is in good standing for one year, the account may be converted to another checking account at the member’s request.

The Fresh Start Checking Account is a non-dividend earning account.

Minimum balance and deposit requirements
There is no minimum deposit required for you to open your Fresh Start Checking Account. There is a monthly service fee as stated on the accompanying Fee Schedule.

Minimum balance and deposit requirements
There is no minimum balance required to open your Rewards Checking Account. There is no minimum balance required to obtain the Annual Percentage Yield stated on the Rate Schedule. You must complete a monthly electronic deposit (Direct Deposit, Payroll, ATM, Online Banking transfer, and Mobile Remote Deposit are considered electronic deposits) of at least $500 and have elected to receive electronic statements (eStatements) to avoid a monthly service fee as stated on the accompanying Fee Schedule.

Rate information
Our Rewards Checking Account is designated as a variable rate account on the Rate Schedule. These rates and yields may change at any time at the Credit Union’s discretion.

Dividend compounding and crediting
Dividends will be compounded monthly and will be credited monthly. For the Rewards Checking Account the period is monthly. For example, the beginning date of the first dividend period of the calendar year is January 1st and the ending date is January 31st. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period. The most recent dividend declaration date is reflected on the accompanying Rate Schedule.

The Checkless Checking Account is available to eligible members who want to avoid overdraft check fees and have opted to not write checks on their account. The Credit Union will not order checks for this account type. The Credit Union is not responsible for monitoring if the accountholder orders checks from a third party and payment of checks will not be prohibited. The Checkless Checking Account is a non-dividend earning account.

Minimum balance and deposit requirements
There is no minimum deposit required for you to open your Checkless Checking Account. There is no monthly service fee for this account.

Minimum balance and deposit requirements
The minimum balance required to open your Health Savings Checking Account is $50. There is no minimum balance required to obtain the Annual Percentage Yield stated on the Rate Schedule.

Rate information
Our Health Savings Checking Account is designated as a variable rate account on the Rate Schedule. These rates and yields may change at any time at the Credit Union’s discretion.

Dividend compounding and crediting
Dividends will be compounded monthly and will be credited monthly. For the Health Savings Checking Account the period is monthly. For example, the beginning date of the first dividend period of the calendar year is January 1st and the ending date is January 31st. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period. The most recent dividend declaration date is reflected on the accompanying Rate Schedule.

Incorporation of Health Savings Account Agreement & Disclosures
All other terms and disclosures for our Health Savings Accounts are contained in the Credit Union’s Health Savings Account agreement and disclosure statement, which by this reference is incorporated into this account disclosure in its entirety. When you open your Health Savings Account, the Credit Union agreement and disclosure statement will be provided to you.

Dividend compounding and crediting
Dividends will be compounded and credited at maturity.

Our Term Certificates range from 6 month to 60-month terms.

Dividend compounding and crediting
Dividends will be compounded monthly and will be credited monthly. For the Term Certificate the dividend period is monthly.

Our Roth IRA Term Certificates range from 12 month to 60-month terms.

Dividend compounding and crediting
Dividends will be compounded monthly and will be credited monthly. For the Roth IRA Term Certificate the dividend period is monthly.

Our Coverdell Education Savings Term Certificates range from 12 month to 60-month terms.

Dividend compounding and crediting
Dividends will be compounded monthly and will be credited monthly. For the Coverdell Education Savings Term Certificate the dividend period is monthly.

Our IRA Term Certificates range from 12 month to 60-month terms.

Dividend compounding and crediting
Dividends will be compounded monthly and will be credited monthly. For the IRA Term Certificate the dividend period is monthly.

Documentation of 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 800.866.6474 to find out whether or not the deposit has been made. If the only possible transfers to or from your account are direct deposits or preauthorized deposits, you will get at least a quarterly statement from us.

Disclosure of right to stop payment

1. 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’s how:
   Call us at 800.866.6474, or write to us at PO Box 8017, El Monte CA 91734, in time for us to receive your request three 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.
2. Notice of varying amounts.
   If these regular payments 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.

Transactions available
You may use your ACH services to perform the following transactions:

• Make deposits to your savings, checking account, Money Market, Vacation and Holiday accounts;
• Make loan payments;
• Pay bills directly from your savings, checking, or Money Market account in the amounts and on the days you request;
• Authorize a merchant or other payee to make a one-time electronic payment from your checking account using information from your check to pay bills or pay for purchases; and
• Authorize a merchant or other payee to debit your checking account for returned check fees or return debit entry fees.

All payments and deposits are subject to later verification by us.

Rules for use
By using your ATM/Debit Card with your personal identification number (PIN) at automated teller machines (“ATMs”) or other electronic terminals operated by a participating institution, network system, or company (collectively “terminals”), you authorize us to effect the transactions from or to your savings or checking account(s) in accordance with the instructions given at the terminals. All ATM/Debit Card transactions are subject to the terms and conditions of your account agreements with us governing the affected accounts.

ATM fees
When you use an ATM not owned by SCE Federal Credit Union, you may be charged a fee by SCE Federal Credit Union and the ATM operator and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer. A fee will not be imposed for use of an ATM or Debit Card issued by SCE Federal Credit Union for use of an electronic terminal operated by SCE Federal Credit Union. Refer to the Schedule of Fees and Charges for the amount charged by SCE Federal Credit Union.

Transactions available
You may use your ATM/Debit Card to perform the following transactions:

• Make deposits to your savings or checking account;
• Withdraw cash from your savings or checking and loan account;
• Transfer funds between your savings and checking and loan account;
• Make point-of-sale payments for goods and services to others from your checking account; and
• Make account balance inquiries.

Some of the transactions listed above may not be available at all terminals. All payments and deposits are subject to later verification by us.

Limitations on transactions
You may make ATM cash withdrawals or Debit transactions up to $610 ($250 for Teen Checking Accounts) each 24-hour period as long as your available balance will cover the transaction or have not been assigned a custom limit. 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.

Access cards
All ATM Cards/Debit Cards are non transferable and belong to the Credit Union. The Credit Union may cancel, modify and restrict the use of any ATM/Debit 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.

ATM safety
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:

• Be aware of the surroundings, particularly at night.
• Look for well lighted ATMs when transacting at night.
• If you notice anything suspicious when approaching the ATM, return later or use another ATM.
• Have your transaction ready before you go to the ATM. When you can, fill out any deposit or withdrawal slips/envelopes before leaving your vehicle.
• Have your ATM Card ready, to avoid going through your purse or searching through the contents of your wallet at the ATM site.
• If you notice anything suspicious while you are transacting business, immediately stop your transaction, put your ATM Card away and leave.
• Consider having another person accompany you to the ATM.
• Immediately report all crimes to the ATM operator and to local law enforcement officials.
• Stand close to the ATM and away from others in line to avoid detection of your PIN or other account information.
• Put your cash away as soon as the transaction is complete; count the cash later in the safety of your vehicle or home.
• Never give information to strangers at the ATM or to anyone over the phone. Be aware of fraud or people who pose as Credit Union employees who try to get information from you. This information should only be discussed in person by you at the Credit Union.
• Remember to keep your PIN a secret. Make sure not to write it on your ATM Card or anywhere else in your wallet; thieves can easily figure out the reason for “hidden” or “secret” numbers.
   

Transactions available
You may use your Audio Response Service to perform the following transactions:

• Obtain account, and loan balances;
• Obtain loan payment due date and pay off information;
• Obtain last dividend, date and amount;
• Obtain clearance of specific checks;
• Request a check withdrawal from your savings, checking or Money Market account;
• Transfer funds between your savings, checking and Money Market account;
• Access your Line of Credit Account to request loan advances;
• Transfer funds from your Line of Credit to your checking and savings accounts.
• Make loan payments; and
• Apply for a loan.

All payments and deposits are subject to later verification by us.

Limitations on transactions
The maximum amount you may withdrawal by check is $20,000 during any 24-hour period.

Issuance of card
“Card” means the SCE Federal Credit Union Visa Debit Card and any duplicates, renewals or substitutions the Credit Union issue to you; “Account” means the account designated on the application for your Debit Card.

Responsibility for Transactions
You are responsible for all transactions you make with the Card or that you authorize another person to make with the Card. You understand that if you disclose your Visa Debit 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.

Merchant disputes
For POS transactions directly accessing a line of credit, the Credit Union is not responsible for the refusal of any merchant or financial institution to honor the card. The Credit Union is subject to claims and defenses (other than tort claims) arising out of goods or services you purchase with the card if you have made a good faith attempt but have been unable to obtain satisfaction from the merchant or service provider and (a) your purchase was made in response to an advertisement the Credit Union sent or participated in sending to you or (b) your purchase cost more than $50 and was made in your state or within 100 miles of your home.

Limitations on dollar amounts and frequency of transactions
Purchases made above the floor limit of the merchant will require an authorization number from Visa.

Visa Debit Card default limit is up to $3,000 ($250 for Teen Checking Accounts) for every 24-hour period when used at places that accept Visa Debit Cards as long as your available balance will cover the transaction or have not been assigned a custom limit. You may make up to 15 total transactions per each 24-hour period.

Use of the card
You may use the Card and PIN to:

• Withdraw cash from your Account at ATMs, merchants, or financial institutions that accept Visa Debit Cards;
• Transfer funds between your savings, checking or loan account you have with the Credit Union; and
• Make deposits to your savings or checking account at the Credit Union.

You may use the Card without the PIN to:

• Purchase goods or services at places that accept Visa Debit Cards (these are point of sale or POS transactions);
• Order goods or services by mail or telephone from places that accept Visa Debit Cards;
• Order goods or services without a PIN by mail, online, or telephone at merchants who offer the payment transactions processed through the STAR, PULSE, CO-OP, ACCEL/Exchange or any other Debit Card network; and
• Make automatic payments from your Account to pay bills or other charges, providing the person or organization you are paying agrees to accept payments this way.

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

Use of the Card, the Account number on the Card, the PIN or any combination of the three for payments, purchases, or to obtain cash from merchants, financial institutions or others who honor Visa Debit Cards is an order by you for the withdrawal of the amount of the Transaction from your Account. Each Transaction with the Card will be charged to your Account on the date the Transaction is posted to your Account. When the Credit Union receives notification of a Debit Card transaction, it will put a hold on an equivalent amount of funds in your checking account for 3 days or until the day the transaction is charged to your account.

All Card transactions covered by this Agreement are subject to the terms and conditions of your Account agreements with us governing the affected Accounts, except as modified by this Agreement. Any future changes to your Account agreements may affect the use of the card.

Illegal use of Visa Debit Card
You agree that your Visa Debit Card Account will not be used to make or facilitate any transaction(s) that are or might be construed to be illegal pursuant to applicable law, rule or ordinance, including but not limited to gambling. Said use, including any such authorized use, will constitute an event of default under this Agreement. You agree that the Credit Union has no liability, responsibility or culpability whatsoever for any such use by you or any authorized user(s). You agree that you are responsible for repayment of any and all debts incurred for these transactions. You further agree to indemnify and hold the Credit Union harmless from any suits, liability, damages or adverse action of any kind that results directly or indirectly from such illegal use.

Overdrafts
You promise to pay the Credit Union immediately upon demand for any negative (overdraft) balance arising in your Account, unless you have available overdraft privileges. If you do not have overdraft privileges, the Credit Union may deduct the amount of any overdraft on your Account from any other account you have with the Credit Union, except an Individual Retirement Account.

Refusal to honor card
The Credit Union is not liable for the refusal or inability of any electronic terminal to honor the Card or to complete a withdrawal from your Account, or for their retention of the Card. The Credit Union is also not responsible for the refusal of any merchant or financial institution to honor the Card or for their retention of the Card.

Foreign transactions
Purchases and cash advances made in foreign currencies will be billed to you in U.S. dollars. Transactions processed outside of the United States, or in a foreign currency may be charged a foreign transaction fee, regardless of whether there is a currency conversion associated with the transaction. Foreign transactions include transactions initiated in the U.S. authorizing access to a debit card, credit card or deposit account number using a telephone, computer or mobile device application, but with a merchant who processes the transaction in a foreign country. The conversion rate in dollars will be a rate selected by Visa from a range of rates available in wholesale currency markets for the applicable Central Processing Date, which rate may vary from the rate Visa itself receives, or the government-mandated rate in effect for the applicable Central Processing Date in each instance, plus a one percentage point (1%) fee charged by the Issuer.

Consumer reports
The Credit Union makes credit available to its members on a regular basis. The Applicant(s)/Account Holder(s) of the account authorizes the Credit Union to obtain consumer reports in connection with credit and business transactions involving the Applicant(s)/Account Holder(s), including but not limited to applying for membership, the opening of a savings or checking account or the issuance of an ATM Card, Debit Card, or other service provided by the Credit Union, and the Applicant(s)/Account Holder(s) of the account authorize any person, association, or corporation to furnish on request of this Credit Union, information concerning the affairs of the Applicant(s)/Account Holder(s). The Applicant(s)/Account Holder(s) also authorizes the Credit Union to furnish information concerning the account to consumer reporting agencies. 

System requirements
Online or Mobile Banking service allows convenient access to your account information 24 hours a day. To use Online Banking you must have a computer, modem, Internet Service, browser, your account number and a PIN or Access Code.

Transactions available
You may use your Online or Mobile Banking service to perform the following transactions:

• Obtain account/loan balance information;
• Obtain loan payment due date and payoff information;
• Obtain last dividend, date and amount;
• Obtain clearance of specific checks;
• Request check withdrawals from your savings, checking or Money Market accounts;
• Transfers funds between your savings, checking or Line of Credit;
• Access your Line of Credit for loan advances by check;
• Download transaction information to personal financial management software from your savings and checking accounts;
• Make loan payments;
• Pay bills through Bill Payer from your savings and checking accounts;
• Apply for a loan;
• Reorder checks, print statements, or change your password.

Limitations on transactions
The following are limitations to the use of the Credit Union’s Online/Mobile Service:

• The maximum you may withdraw by check is $20,000 during any 24-hour period.
   

The Credit Union’s Bill Payer service is available to you under guidelines described in this agreement and via the online enrollment disclosure. You authorize the Credit Union to debit your designated Checking Account(s) for any transactions processed through the use of our Bill Payer service, including all charges as shown in the Schedule of Fees and Charges associated with Bill Payer service. Requirements and your responsibilities for use of this service are described below.

System requirements
To use Bill Pay you must have a computer, modem, Internet Service, browser, your account number and a PIN or Access Code.

Your payees
Payee records are created by you and should include all the necessary data to make your payment, such as payee name, address, phone number and account number.
You may add and edit payees within the Bill Payer service. The Credit Union may update these records without any further notification to correct errors or update account information as provided by the payee in order to process your payment. Editing payees is limited to your personal information such as: the payee nickname, account number, phone, name on account and payment category. The Credit Union is not responsible if you provide invalid, incomplete or incorrect payee information which results in a Bill Payment that cannot be processed and/or is misrouted.

The payee details will indicate the number of days required for processing. Payments made by check required a minimum of five business days for processing and electronic payments require a minimum of two business days for processing.

Scheduling a payment
Payments can be scheduled to any payee from your checking account on any date shown on the bill pay system calendar as an available "deliver by" date. The "deliver by" date is the date the Payee will receive payment. These dates are limited to Monday through Friday, excluding Federal Holidays.

In order to ensure payments are received by the "deliver by" date, payments are processed (but not charged to your account) 2 business day before the "deliver by" date after 1pm (PST) for electronic payments. Payments made by check are processed 5 business days before the "deliver by" date after 1pm (PST) and are charged once the Payee negotiates the issued check which is drawn directly on the designated Checking Account. Please make sure you have available funds in your account at least four (4) days prior to your selected "deliver by" date as the funds can clear as soon as your payee receives the check. The maximum payment amount is $9,999.99 per transaction.

Bill Pay withdrawals
Scheduled electronic payments will be withdrawn from your account as early as 4am (PST) but no later than 9am (PST) on the "deliver by" date you have specified.
Check payments: The funds will be debited from your account when the payee receives and negotiates the check. We send out the check up to five (5) days before your "deliver by" date.

To determine if a payment will be paid electronically or by check, locate the payment in the "Scheduled payments" section of the main Bill Pay page and click the "Edit" icon. How a payment is scheduled to be made, electronic or check, will display in the pop-up box next to "Type." 

It is your responsibility to have sufficient funds for the payment to be processed. In the event that you do not have sufficient funds then you may be assessed an overdraft, Courtesy Pay or NSF fee as a result of these transactions as disclosed in our Schedule of Fees and Charges. The Credit Union may overdraft from your other share accounts (as applicable) according to the instructions you have given the Credit Union (if any) if there are not sufficient funds in the designated Checking Account.

Transactions available
You may use your Bill Payer service to perform the following transactions:

• Add/Edit Payees: Payees refers to the entity to which you pay bills. The payee can be a company, organization, or individual. The Add/Edit Payee feature allows you to add payees to, delete payees from or edit payee information on your personal list of payees.
• Make nonrecurring payments from your checking: This feature allows you to schedule one-time payments to payees and enable you to specify the amount of the payment and the processing date.
• Make recurring payments from your checking account: This feature allows you to schedule recurring payments to payees.
• View History: View History permits you to see payments made over a specified time period.

Limitations on transactions
The following are limitations to the use of the Credit Union’s Bill Payer service:

• The maximum transaction amount is $9,999.99 per payment.
• Payments cannot be made for tax payments, DMV payments, court-ordered payments or payments to payees outside of the United States.
• If you close the designated bill payment share draft/checking account, all scheduled payments will be stopped.
• You cannot stop a payment if the payment has already been processed.
• You can schedule payments 24 hours a day, seven days a week, however, payments scheduled on a Saturday, Sunday, or holiday will be processed on the next business day.

The Credit Union will not be held liable under any circumstances for payments made to any of the following:

• Tax payments (IRS, Franchise Tax Board, Tax Assessor)
• DMV payments
• Court ordered payments
• Security trade purchases
• Child Support payments
• Payments outside of the United States

Methods and restrictions
Payments are made to your payee either electronically via the Automated Clearing House (ACH) or by check or laser draft. The method of payment depends upon the processing method that can be accommodated by the payee or by our bill payment service provider.

It is important that you take into consideration what method of bill payment will be used when scheduling bill payments to ensure payment deadlines are met. If the payee accepts electronic bill payment, the payment may take up to two business days to be delivered. If the payee does not accept electronic bill payment, the payment will be sent in a check form, and may take up to five business days to be delivered. Expedited payment delivery options may be available for an additional charge. The bill pay system will display the expedited delivery date based on the payee payment method, either electronic or check. Refer to the Schedule of Fee and Charges for cost of an expedited electronic and expedited check payment.

This service may be revoked at any time by the Credit Union and any payments scheduled may be cancelled at any time without further notification in the event of misuse, fraud, and/or abuse. The Credit Union may restrict your account from scheduling further payments if you have scheduled a payment and have insufficient funds in your account to cover the Bill Pay payment or in the event you have a delinquent loan or if your account fails to comply with guidelines specified in this disclosure.

Editing or cancelling a pending payment
You may edit or cancel any one time or recurring pending payment via Bill Payer prior to the payment processing date. You may not edit or cancel a payment after the payment has been processed by our Bill Pay service provider.

Stop payment
You may request a stop payment on a Bill Pay check if the check has not been negotiated. A Stop Payment fee will be charged to your account as stated in the Schedule of Fees and Charges.

To place a stop payment call us at 800.866.6474 or write to us at PO Box 8017, El Monte CA 91734 Attention: Electronic Services department. If you call, we may also require you to put your request in writing and get it to us within fourteen (14) days after you call.

eMail notifications
An automated notification will be sent to the primary email address on file whenever any of the following take place:

• A new payee is added or edited;
• A payment was made;
• An automatic payment is scheduled or cancelled;
• Your Bill Pay funding account is blocked.

Member responsibilities
You are responsible for:

• data input of payee information (payment amount(s), name, address and any other pertinent information); you must allow sufficient time for bill payments to be processed so that the funds can be delivered to the merchant on or before the due date;
• any late payment, late fees, interest payments, and service fees charged by merchant(s) as a result of incorrect information or failing to schedule before the due date;
• any overdraft, NSF or stop payment fees charged by the Credit Union as a result of these transactions;
• maintaining a current, valid email address and review of email notifications;
• reporting any inaccurate or suspicious activity to us by calling us during business hours at 800.866.6474, Electronic Services department.

Fee schedule
Refer to the Credit Union’s current Schedule of Fees and Charges to see current fees.

Applicable law
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.

Funds transfer cut-off time
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 at 1:00 p.m. 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.

Service charges/fees
The Credit Union may charge your account for the amount of any funds transfer initiated by you or by any person authorized by you 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. Please refer to our Schedule of Fees and Charges for current fees.

Security procedures
The Credit Union may establish, from time to time, security procedures to verify the authenticity of a payment order. You will be notified of the security procedure, if any, to be used to verify payment orders issued by you or for which your account will be liable. You agree that the authenticity of payment orders may be verified using that security procedure unless you notify the Credit Union in writing that you do not agree to that security procedure. In that event, the Credit Union shall have no obligation to accept any payment order from you or other authorized parties on the account until you and the Credit Union agree, in writing, on an alternate security procedure.

Use of Fedwires
If you send or receive a wire transfer, Fedwire may be used. Regulation J will govern Fedwire transactions, except to the extent of a conflict between Regulation E and Regulation J with respect to remittance transfers, in which case, Regulation E shall govern.

Identification of beneficiary
If you give 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 beneficiary’s bank 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 you will be responsible to the Credit Union if the funds transfer is completed on the basis of the identification number you provided the Credit Union.

Identification of beneficiary and intermediary bank by number
If you give 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 bank than the named bank. This means that you 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 you provided.

Provisional ACH payments
The Credit Union may at its discretion give you 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. You are hereby notified and agree, if the Credit Union does not receive such final settlement, that it is entitled to a refund from you of the amount credited to you in connection with that ACH entry. This means that the Credit Union may provide you 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 your account and you would be liable to repay the Credit Union.

Notice of receipt of ACH funds
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 you with next day notice of receipt of ACH credit transfers to your account. You will continue to receive notices of receipt of ACH items in the periodic account statements which we provide.

Receipt of incoming (non-ACH) funds transfer
If the Credit Union receives a funds transfer for you or for other persons authorized to have access to your account, you agree the Credit Union is not obligated to provide you with next day notice of the receipt of the funds transfer. The Credit Union will provide you with notification of the receipt of all funds transfers by including such items in the periodic account statements which we provide. You may, of course, inquire between receipt of periodic statements whether or not a specific funds transfer has been received.

Payment of dividends (or interest)
If the Credit Union becomes obligated under Article 4A to pay interest (or dividends) to you, you agree the rate of interest (or dividends) 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.

Account Agreement – any savings, checking, term certificate, trust, Totten trust or UTMA account

TIS Agreement – Truth In Savings Agreement entitled "Membership Agreement and Disclosure"

The terms, conditions and information contained in the Membership Application, and all amendments thereto, are by this reference hereby incorporated in their entirety into this TIS Agreement and become an integral part of the General Terms and Conditions of the Credit Union Accounts.

The ownership of trust, Totten trust and UTMA accounts shall be governed by the applicable Account Agreement. Unless otherwise specified in the Account Agreement, the parties who sign an Account Agreement agree with each other and with the Credit Union that all funds in the accounts shall be owned as follows:

• Individual Accounts: The account or certificate is owned by the party named on the Account Agreement (“Account Holder”). Upon the death of the party, ownership passes to the named pay-on-death payee(s), designated as the beneficiary(ies) on the Account Agreement.
• Joint Accounts: The account or certificate is owned by the parties named on the Account Agreement (“Account Holders”). Upon the death of any of them, ownership passes to the survivor(s). Upon the death of all of them, ownership passes to the named pay-on-death payee(s), designated as the beneficiary named on the Account Agreement.
   

Withdrawals by and Liability of Joint Owners – The Account Holders of an account agree with each other and with the Credit Union that all funds and all accumulations thereon are and will be owned by all Account Holders jointly and equally regardless of their net contributions and are subject to the withdrawal of or receipt by any of the Account Holders, and payment to any of them shall be valid and discharge the Credit Union from any and all liability for such payment. The Account Holders of an account expressly agree that each Account Holder is jointly and severally liable for any and all overdrafts, losses or charges to an account created by any Account Holder(s).

Deposits – The Credit Union may cash or deposit all checks payable to any signer when endorsed by any other signer.

Disputes – If there is a dispute about ownership or control of an account, the Credit Union may place a hold on the account and not release funds until the Credit Union receives either a court order or an instruction signed by all persons claiming an interest in the account.

The use of an account is subject to such other terms, conditions and requirements as the Credit Union may establish from time to time. The Credit Union has the right to change the terms and conditions of this Agreement at any time, in any manner, and for any reason.  We may delete or modify existing terms. We may add new terms without regard to whether the matter is already addressed by this Agreement. We may offer new or different services at any time, and may convert an existing account or service into a new account or service.  We will generally notify you in advance of changes by sending written notice to your address as it appears on our records.  However, we may make changes without sending you advance notice, unless such notice is required by law. By continuing to use or keep your account open, you will be deemed to accept and agree to any such changes in terms.

Notice to one Account Holder shall constitute notice to all persons authorized to have access to the account.

Any or all of the joint Account Holders may pledge all or any part of the funds as security for a loan or loans with the Credit Union only.

Account Holder(s) understand(s) and agree(s) that the Credit Union may report known or suspected illegal or fraudulent activity including, but not limited to, the following:

• Financial abuse involving an elder or dependent adult;
• Where the ownership or collectability of funds are subject to dispute; or
• Misuse or abuse of account services;

to appropriate law enforcement or government entities, as required or permitted by law.  In addition, the Credit Union reserves the right to suspend, restrict, deny or terminate account services and activity, including the placement of an administrative hold (freeze) on account proceeds, or take such other actions as deemed necessary under the circumstances. Account Holder(s) agree(s) to indemnify and hold the credit union harmless from and against all claims, actions, damages, losses, and expenses, including attorneys’ fees, as a result of any action or inaction taken in relation to the matters described here. 

All funds in an account remain subject to any and all liens, including but not limited to statutory liens and/or consensual liens, security interests, rights of offset and charges, notwithstanding the source of the contribution.

Each Account Holder agrees to promptly notify us in writing of any change in address(es).  If you fail to do so, we may send notices, statements or other important information to the address shown in our records and you agree to release us from any liability for doing so. You also agree to notify us in writing of any change in ownership or authorized signers, or if an owner or authorized signer dies or is placed under legal guardianship or conservatorship. We may, at our option, require a new Account Agreement to be completed before any such change takes effect.  Any such changes shall not affect transactions previously made.

The Credit Union reserves the right to waive the enforcement of any of the provisions of this TIS Agreement with respect to any transaction or series of transactions. Any such waiver will not affect the right of the Credit Union to enforce any of its rights with respect to later transactions and is not sufficient to modify the terms and conditions of this TIS Agreement.

The Credit Union makes credit available to its members on a regular basis. The Applicant(s)/Account Holder(s) of the account authorizes the Credit Union to obtain consumer reports in connection with credit and business transactions involving the Applicant(s)/Account Holder(s), including but not limited to applying for membership, the opening of a savings or share/draft account or the issuance of an ATM Card, Debit Card, or other service provided by the Credit Union, and the Applicant(s)/Account Holder(s) of the account authorize any person, association, or corporation to furnish on request of this Credit Union, information concerning the affairs of the Applicant(s)/Account Holder(s). The Applicant(s)/Account Holder(s) also authorizes the Credit Union to furnish information concerning the account to consumer reporting agencies.

We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit report. 

If you believe the Credit Union is reporting inaccurate information to a credit reporting agency, please notify us at SCE Federal Credit Union, Attention: Account Administration, P.O. Box 8017, El Monte, CA 91734, so we can investigate.

The Credit Union will treat all checks as though the checks were written on the date presented.

The Account Holder(s) to whom the periodic statement of account is sent agree(s) to exercise reasonable care and promptness in examining the statement to discover any errors or discrepancies, and to promptly notify the Credit Union after discovery thereof.

Non-cash payments deposited into an account may be credited subject to final payment.

All accounts shall be subject to service charges in accordance with fee schedules adopted by the Credit Union as amended from time to time.

You agree to pay the Credit Union all of our costs and reasonable attorneys’ fees, including all collection costs, litigation costs, skip-tracing fees, and outside services fees incurred while we are enforcing our rights under this Agreement.

Account Holder(s) agrees that the Credit Union has the right to offset against any account of any Account Holder to cover any amount owing to the Credit Union for any reason. Account Holder(s) understand that this means that the Credit Union has the right to impress and enforce a statutory lien against the Account Holder(s’)’s shares and dividends in the event of the failure of the Account Holder(s) to satisfy any financial obligation due and payable to the Credit Union. Account Holder(s) understand that the Credit Union may enforce this right without further notice.

The above-described right to offset shall not apply with respect to any written trust instrument or custodial agreement created or organized in the United States and forming part of a tax-advantaged savings plan which qualifies or qualified for specific tax treatment under sections 223, 401(d), 408, 408A and 530 of the Internal Revenue Code (26 U.S.C. 223, 401(d), 408, 408A and 530).

This TIS Agreement shall be construed in accordance with the laws of the State of California, including the California Uniform Commercial Code (UCC).

No more than six preauthorized, automatic, online or telephonic transfers made to another account at the Credit Union or to a third party or no more than six transfers or withdrawals made by check, draft, debit card or similar order payable to a third party may be made from each savings account or money market deposit account in any calendar month. If an Account Holder exceeds, or attempts to exceed, these transfer limits, the excess transfer requests may be refused or reversed, a fee may be imposed on the excess transfer requests, and the Credit Union may reclassify or close the account. Transfers initiated by telephone must be counted among the six-monthly transfers, except that there are no limits on the number of withdrawals paid directly to an Account Holder when initiated by mail, telephone or messenger. There are no limits on the number of withdrawals if initiated in person.

The Credit Union reserves the right to require prior written notice of intention to withdraw all or any part of savings not to exceed the notice requirement as set forth in the Credit Union’s bylaws.

Term certificates may not be pledged, transferred, or assigned to any party other than the Credit Union unless otherwise provided by statute. Savings invested for an Individual Retirement Account (IRA) or Keogh Plan may not be pledged as security for any loan. The Credit Union reserves the right to offset this certificate except as otherwise precluded by law. If the Credit Union offsets funds from this certificate, the funds withdrawn are subject to the early withdrawal penalty.

Only checks and other methods approved by the Credit Union may be used to withdraw funds from a checking account.

Upon prior notification from the merchant to the Account Holder, a purchase made with a check can be converted to a one-time electronic fund transfer (EFT) if authorized by the Account Holder. The Account Holder may also authorize merchants to electronically debit the account for returned check fees. It is agreed that the Account Holder authorizes the electronic funds transfers if the transaction is completed after being told (orally or by a notice posted) that the transfer may be processed electronically or if the Account Holder signs a written authorization.

The Credit Union may pay and charge to the applicable checking account, checks drawn by and payable to any person, organization, association or corporation that has been authorized by an Account Holder to be paid, by the provision of MICR encoded information on the account. It is agreed that the Credit Union’s rights in respect to such checks shall be the same as if it were a check drawn and signed by an Account Holder(s) personally. This authority shall remain in effect until revoked by an Account Holder in writing. It is agreed that the Credit Union shall be fully protected in honoring such checks. It is further agreed that if any such check is dishonored, whether with or without cause, and whether intentionally or inadvertently, the Credit Union shall incur no liability whatsoever, even though such dishonor results in the forfeit of insurance, loss or damage of any kind.

The Credit Union is under no obligation to pay an item (such as check, ACH, ATM and debit card transactions) which exceeds the available balance in an account; the Credit Union may, however, pay an item and recover or obtain a refund of the amount of the resulting overdraft plus a fee, (see Schedule of Fees and Charges) from any of the Account Holders of this account, each of whom expressly agrees that each Account Holder is jointly and severally liable for any and all overdrafts of this account and any and all associated costs created by any Account Holder. When an item is returned unpaid due to insufficient available funds and not covered by the Courtesy Pay Program (see For Checking Accounts with Courtesy Pay) or when an authorized debit card transaction is paid that exceeds your available balance, including your Courtesy Pay limit if applicable at the time it is presented for payment, you will be charged a Returned Item or NSF (Non-Sufficient Funds) fee, as stated in the Credit Union’s Schedule of Fees and Charges.

Order of Posting: The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. We will pay checks, automated debits (ACH), ATM withdrawals, debit card transactions (that may be completed with or without entering your PIN) in the order presented for payment to the Credit Union.

• Multiple checks presented for payment on the same day will be posted in the order received
• For ACH transactions, deposits are posted first then debits are posted by settlement date, in the order received from Federal Reserve
• For ATM Card and Debit Card transactions, items are posted in the order presented for payment, which may differ from the order the transactions was authorized. You understand that the order in which items are presented for payment can affect the total amount of fees that may be assessed against your account

The Credit Union reserves the right to adjust the processing times any items at it's sole discretion.

Actual (Current) and Available Balances: It is also important that you understand the difference between your “actual balance” and your “available balance” to properly manage the money in your account and avoid Courtesy Pay (overdraft) and insufficient fund fees. Your “actual balance” is updated throughout the day as transactions are posted to your account. The actual balance will not reflect any pending, un-posted authorized transactions. Your "available balance" is the amount you have in your account at a particular time that is available for immediate withdrawal. Your available balance is updated throughout the day to reflect holds and pending transactions. The difference between your actual balance and your available balance is the result of pending activity that has not yet posted to the account (example, any "pending" debit card merchant withdrawals which have been authorized for payment and deposits that have a hold and are not available for immediate withdrawal). We will use the “available balance” in your account to determine if you have sufficient funds to cover your transactions. You can determine your available balance at the ATM, by phone or by accessing your account online or with mobile banking.

You understand that you may be overdrawn even when your actual balance is positive. You also understand that you may still overdraw your account even though the available balance appears to show there are sufficient funds to cover a transaction that you wish to make because your available balance will not reflect all your outstanding checks, automatic bill payments or recent deposits. In addition, a debit card transaction may cause your account to be overdrawn if the available balance is not sufficient at the time of posting even if the available balance was sufficient at the time it was authorized. Also note, your available balance may not reflect all of your pending debit card transactions if an authorization hold is released prior to the transaction being presented for payment. For example, if a merchant obtains your prior authorization but does not submit a one-time debit card transaction for payment within two (2) business days of authorization (or for up to thirty (30) business days for certain types of debit card transactions), we are required to release the authorization hold on the transaction. The available balance will not reflect this transaction once the hold has been released until the transaction has been received by us and paid from your account. You must keep careful records and practice good account management to avoid making transactions without sufficient funds available for withdrawal. For additional details on the availability of your funds for withdrawal, see the section entitled “Your Ability to Withdraw Funds.” If you have additional questions about your available or actual balance, please see a branch representative or call 800.866.6474.

Example 1: If you write a check for $25 but it has not yet cleared your account, your available balance will be $25 less than what is reflected by your actual balance.

Example 2: If you authorize a debit card transaction for $30 but it has not yet posted to your account, your available balance will be $30 less than what is reflected by your actual balance.

Example 3: The following transactions are not reflected in your available balance:

• Any checks you have written that have not yet been presented for payment.
• Any automatic bill payments you have scheduled that have not yet been sent.
• Any debit card transactions where the authorization hold has been released but the transaction has not yet been submitted to the Credit Union.

When you make a purchase with your Debit Card without entering your PIN, the merchant or other payee may seek our prior authorization and guarantee of payment for the transaction. If we authorize the transaction, we place a temporary hold for the authorized amount in the account linked to your Debit Card. We refer to this temporary hold as an “authorization hold,” and the amount of the authorization hold will be subtracted from your available balance (generally in real time as transactions are received by us throughout each day). The Credit Union will not authorize everyday Debit Card transaction amounts that exceed your current available balance unless you have asked us to do so.

The amount of an authorization hold may differ from the actual transaction amount because the actual transaction amount may not yet be known to the merchant when the authorization request is submitted. Examples include, at-the-pump fuel purchases where the authorization occurs prior to fuel being pumped, restaurant purchases where the authorization occurs prior to the addition of a gratuity, or hotel or rental car transactions where the authorization is for an estimated amount prior to check-out. For those transactions, there may be no authorization hold, or the amount of the authorization hold may be different from the transaction amount. In some other cases we may not receive an authorization request from the merchant, and there will be no authorization hold reflected in your available balance.

We place authorization holds for up to two (2) business days (or for up to thirty (30) business days for certain types of Debit Card transactions) from the time of the authorization. If the transaction is not submitted for payment by the merchant within the specified time period, we must release the authorization hold, which will increase your available balance until the transaction is submitted for payment by the merchant and it is posted to your account. We urge you to record and track all of your transactions closely to confirm that you will not overdraw your account by spending funds that are not available to you.

Overdrafts and Returned Items

You are responsible for keeping track of your available balance. If you track your available balance accurately and you do not exceed this balance when a transaction is presented for payment or posted to your account, you will avoid overdrafts and the associated fees. It is imperative that you keep track of the outstanding transactions you may have authorized (such as outstanding checks or automatic bill payments for example), as your available balance will not reflect these transactions until they are paid from your account. As discussed in the “Actual and Available Balance” section, our record of your available balance may also not reflect all of your Debit Card transactions. Also remember that you should not assume that you can avoid an overdraft on your account by making a deposit before a check or other item is presented for payment because your deposit may not be immediately available for withdrawal.

We will generally charge a fee for any debit transaction that exceeds the available balance in your account at the time the transaction is presented for payment. Subject to applicable limits on fees, you may be charged a fee each time a transaction is presented for payment, even if the same transaction is presented for payment multiple times. If we pay the transaction, we will charge an overdraft (Courtesy Pay or NSF (if the item is paid and exceeds the available balance at the time of posting) fee. If we return the transaction, we will generally charge a returned item fee. Please see our Schedule of Fees and Charges for a listing of these and other fees.

We pay overdrafts at our discretion, which means we do not guarantee that we will always, or ever, authorize and pay them. We are not obligated to pay any item presented for payment against your account if the available balance in your account is insufficient to cover the item. If we overdraw your account to pay items on one or more occasions, we are not obligated to continue paying future insufficient funds items. We may pay all, some, or none of your overdrafts, without notice to you. If we do not authorize and pay an overdraft, then we decline or return the transaction unpaid.

The Credit Union is under no obligation but may pay a check which is presented more than six (6) months after it is dated. The Credit Union may assess a special handling charge upon receipt of any such item in addition to a service charge upon the account in accordance with the fee schedules adopted by the Credit Union and as amended from time to time.

Any Account Holder(s) of this account may stop payment of any item drawn against the account. The Stop Payment Order must describe the item with reasonable certainty and must be received in such time and manner as to afford the Credit Union a reasonable opportunity to act upon it. A Stop Payment Order is effective for six (6) months, but it lapses after 14 calendar days if the original order was oral and was not confirmed in writing within that 14-day period. The Stop Payment Order may be renewed in writing for an additional six (6) month period. Written confirmation is not required if the Account Holder submits a Stop Payment Order through one of the available electronic services.

The Account Holder(s) acknowledges that checks are truncated and hereby waives any and all rights to receive the items without prejudice to any of the Credit Union’s defenses available under the California Uniform Commercial Code (UCC).

Except for its own lack of good faith or failure to exercise ordinary care, the Credit Union is not liable for any action it takes regarding the payment or nonpayment of a check, even if nonpayment results in the forfeit of insurance, loss or damage of any kind.

The Credit Union may close a checking account at any time. Closure of a checking account will not affect the obligation to pay any outstanding balances or charges owed.

If any Account Holder(s) writes a check that would result in this Checking Account being overdrawn, the Credit Union is authorized to charge the designated share account(s), regardless of which party signed the item, in such multiples as determined by the Credit Union sufficient to permit the Credit Union to honor the check and any associated fees and to credit such charge to this Checking Account. No checking overdraft may be paid by charging a savings account if, as a result of such charge, that share account would be subject in any one month to more than six pre-authorized, automatic or telephonic transfers.

If any Account Holder(s) writes a check which would result in this Checking Account being overdrawn, and if at that time any Account Holder(s) is eligible to receive loan advances from this Credit Union on a loan designated on the Overdraft Agreement, the Credit Union is authorized to make an advance from the designated loan account, and to credit the advance to this Checking Account in such multiples as determined by the Credit Union sufficient to permit the Credit Union to honor such check and any associated fees.

The Credit Union recognizes that sometimes you may overdraw your checking account. In such cases the Credit Union may decide to honor transactions for which there are insufficient funds. This is the Credit Union’s Courtesy Pay Program. The Credit Union provides the Courtesy Pay Program as an accommodation to you and is not obligated to do so, even when it has done so in the past. You do not apply for this service.

Qualification
To be eligible for the Courtesy Pay Program, the member must meet all of the following criteria:

• Must be a member in good standing;
• Must be age 18 and over;
• Cannot not be delinquent on any loans with the Credit Union beyond 15 days; and
• Account must not be a Fresh Start Checking Account or a Checkless Checking Account.

Description of Service
When these qualifications are met, the Credit Union may automatically honor overdrafts, including checks, automated debits (ACH), debit card transactions, bill payments, and recurring debit card transactions. Transactions covered by Courtesy Pay are subject to a Courtesy Pay fee as stated in the Schedule of Fees and Charges. Transactions not covered by Courtesy Pay that exceed your available balance are subject to a Returned Item or NSF (Non-Sufficient Funds) fee.

Unless the Credit Union currently has your affirmative consent (opt-in) on file, we will not approve your overdrafts for everyday debit card transactions. You must tell us you want overdraft coverage for these transactions. To request overdraft coverage for your everyday debit card transactions, contact us at 800.866.6474 or write to us at PO Box 8017, El Monte CA 91734-2317. Complete and sign the Courtesy Pay Consent form, which is provided with this disclosure, and return it to any Credit Union branch or mail it to us at the address stated above. The Credit Union will provide you with written confirmation of your opt-in choice.

When an overdraft is covered, the account will be taken negative by the dollar amount of the overdraft plus the amount of the Courtesy Pay fee as stated in the Credit Union’s Fee Schedule. If we honor multiple overdrafts we may honor them in any order at the Credit Union’s option or return any such items. 

Courtesy Pay limits are:

• $100 limit; if there are no electronic direct deposits through ACH or payroll direct deposit.

Higher limits may be assigned based on if the account receives an electronic direct deposit through ACH or payroll direct deposit. The Courtesy Pay limit is based on the amount of the highest direct deposit received in the last 35 days.

• $300 limit with an electronic deposit of at least $300, up to $499
• $500 limit with an electronic deposit of at least $500, up to $749
• $700 limit with an electronic deposit of at least $750, up to $999
• $900 limit with an electronic deposit of at least $1000, up to $1299
• $1100 limit with an electronic deposit of at least $1300, up to $1599
• $1300 limit with an electronic deposit of at least $1600, up to $1899
• $1500 limit with an electronic deposit of at least $1900, up to $2199
• $1700 limit with an electronic deposit of at least $2200, up to $2499
• $2000 limit with an electronic deposit of at least $2500, up to $2999
• $2500 limit with an electronic deposit of at least $3000 or more

When the Credit Union honors overdraft items, you must deposit funds immediately, but in no case more than thirty (30) days from the date any notice sent to you. If you fail to cover the total overdraft amount within thirty (30) days, the Credit Union may pursue all collection options available to it. The Credit Union may, but is not obligated to, transfer funds from your other accounts with us to cover the overdraft.

The Courtesy Pay Program fee is a flat fee charged regardless of the amount the account is overdrawn and will be charged for each overdraft item presented and paid by the Credit Union. The charge for Courtesy Pay Service is described in our Fee Schedule.

Notice regarding Returned Item or NSF fees
When an item is returned unpaid due to insufficient available funds and not covered by the Courtesy Pay Program, you will be charged a Non-Sufficient Funds (NSF) fee, as stated in the Credit Union’s Fee Schedule. If multiple items are returned unpaid due to insufficient available funds on the same day, you will be charged an NSF fee for each returned item. The same item may be presented for payment more than once, and you will be charged an NSF fee each time that item is presented and returned due to insufficient available funds.

The Courtesy Pay Program service is a discretionary privilege offered members and not a right of membership. The Credit Union encourages you to properly maintain your accounts with us. You agree that the Credit Union will not be held liable for either paying or refusing to pay any overdraft item. The Credit Union reserves the right to discontinue this service at any time without any notice.

If you do not want the Courtesy Pay Program, you must inform the Credit Union by sending written notice to the Credit Union. Your notice should be directed to SCE Federal Credit Union, PO Box 8017, El Monte CA 91734-2317; Attention Electronic Services.