Electronic Funds Transfer Disclosure &

Agreement Hudson Valley Federal Credit Union

Important Document Please keep for your records

TABLE OF CONTENTS

I. Definitions

II. Types of Services

III. Limitations On Frequency of Transactions

IV. Limitations on Dollar Amounts of Transactions

V. Other Limitations

VI. Your Right to Receive Documentation of Transactions

VII. Business Day

VIII. Disclosure of Account Information to Third Parties

IX. Telephone Number and Address to be Notified in Event of Unauthorized Transactions

X. In Case of Errors or Questions About My Electronic Transfers

XI. Consumer’s Liability

XII. Credit Union Liability For Failure to Make Transactions

XIII. Charges For Transactions

XIV. Changes in Terms

XV. Disclosure of Delayed Funds Availability

XVI. Termination of Electronic Funds Transaction Services

XVII. Additional Disclosures Applicable to Preauthorized Deposits or ACH

XVIII. Additional Disclosures Applicable to Preauthorized Payments

XIX. Stop Payment Orders

XX. ATM/Visa Debit Card Agreement

XXI. Verification

XXII. Governing Laws

XXIII. Illegal Use of Financial Services

XXIV. Accounts of Businesses or Organizations

XXV. Using Your HVFCU Visa Debit Card Without the Use of a PIN

XXVI. Mandatory Arbitration

XXVII. Class Action Waiver

XXVIII. Waiver of Jury Trial

XXIX. Safety at the ATM

ELECTRONIC FUNDS TRANSFER DISCLOSURE AND AGREEMENT

In this Disclosure and Agreement, unless otherwise noted, the words “I,” “me,” “my,” “us” and “our” mean each and all of those who apply for and/or use any of the electronic services described in this Disclosure and Agreement as a result of signing a membership account application/change member application or opening one or more accounts with Hudson Valley Federal Credit Union. The words “you,” “your,” and “yours” mean Hudson Valley Federal Credit Union (HVFCU). The word “checking” means share draft. The word “savings” means share. The term “money market account” means money market share. My acceptance, retention or use of an ATM/Visa Debit card or other electronic funds transaction hereunder, constitutes an agreement between you and me as described below.

This Disclosure and Agreement is given by you in compliance with the Electronic Funds Transfer Act (15 U.S.C. Section 1693, et seq.) and Regulation E (12 CFR 205, et seq.) to inform me of certain terms and conditions of the electronic funds transfer services I have requested.

The information in this Disclosure applies only to the electronic service transactions described herein. Provisions in other disclosure documents, as may be revised from time to time, remain effective for all other aspects of the account involved.

I acknowledge receipt of a copy of this Disclosure and Agreement.

I. DEFINITIONS For purposes of Regulation E, the Electronic Funds Transfer Act, the following definitions apply:

“Electronic check conversion” means that I can authorize a check, draft or similar paper instrument to be used as a source of information to initiate a one-time electronic fund transfer from my account.

“Access device” means a card, code, phone, kiosk, personal computer (Internet Banking) or other means of access to my accounts, or any combination that may be used to initiate electronic funds transfers. An access

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device becomes an “accepted access device” when I: 1. request and receive, sign, use or authorize another person to use the access device to transfer money between accounts, or to obtain money, property or services;

2. request validation of an access device issued on an unsolicited basis;

3. receive an access device in renewal of, or in substitution for, an accepted access device from either the financial institution that initially issued the device or a successor.

“account” means any account at this credit union.

“Electronic terminal” means an electronic device, other than a telephone, where I may initiate an electronic funds transfer.

“Electronic funds transfer” means any transfer of funds that is initiated through an electronic terminal, phone, computer or magnetic tape for the purpose of ordering, instructing or authorizing the credit union to debit or credit my account. This includes, but is not limited to, Point of Sale (POS), Automated Teller Machine (ATM), personal computer (Internet Banking), Bill Pay, pre-authorized deposits or pre-authorized withdrawals of funds and transfers initiated by audio response, Shared Service Centers, and transfers resulting from debit card transactions, whether or not initiated through an electronic terminal.

“Preauthorized electronic funds transfer” means an electronic funds transfer authorized in advance, and recurring at regular intervals.

“Unauthorized electronic funds transfer” means an electronic funds transfer from my account initiated by a person other than an account owner, without actual authority to initiate the transfer and from which I receive no benefit. For businesses, “unauthorized electronic fund transfer” means an electronic fund transfer from my account initiated by a person other than the account owner or other than the person who has been furnished with authority to access the account without actual authority to initiate the transfer and from which I receive no benefit.

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II. TYPES OF SERVICES At the present time, HVFCU participates in several types of services that may be accomplished by electronic transfer. Disclosure information applicable to all electronic services offered by you is given below. I understand that the agreements, terms, conditions, rules and regulations applicable to my savings, checking, money market, Line of credit and any other applicable accounts remain in full force and effect and continue to be applicable, except as specifically modified by this Disclosure and Agreement.

1. Preauthorized Deposits – The credit union will accept pre-authorized direct deposits to my savings, checking, or money market account of federal recurring payments such as Social Security, military allotments, etc., or Automated Clearing House (ACH) payments such as company payroll, securities dividends, account transfers from other financial institutions, etc.

2. Preauthorized Debits/Payments – The credit union will make pre-authorized electronic payments from my savings, money market or checking account of ACH debits such as mortgage payments, membership dues, account transfers to other financial institutions, etc. I understand that pre-authorized payments from my savings and money market accounts are subject to Federal Regulation D section II, of the Truth in Savings Disclosure and Account Agreement.

3. I may authorize a merchant or other payee to make a one-time electronic payment from my checking account using information from my check to pay for purchases or pay bills. Funds may be withdrawn from my account as soon as the same day I authorize my payment.

4. I may access my accounts through HVFCU Automated Teller Machines (ATMs), network ATMs, Shared Service Centers, Point of Sale (POS) locations, audio response, personal computer (Internet Banking), and participating Visa merchant locations (Visa Debit card) and by converting an HVFCU personal check to an electronic fund transfer at participating locations.

If I do not already have a PIN or password for my existing ATM/Visa Debit card or Internet Banking, I may contact you at the address or telephone number referenced

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in section IX. If I do not already have a PIN for audio response, the system will allow me to assign a PIN of my choice.

I will also contact you at the address or telephone number referenced in section IX to have my PIN reset for audio response, or password reset for Internet Banking access because I have repeatedly entered my PIN/ password incorrectly and the system has not allowed me access to my accounts.

I may use my ATM card/Visa Debit card and/or PIN to do the following as applicable:

HVFCU ATMs: 1. Withdraw cash from designated savings, checking, and money market accounts.

2. Make deposits to designated savings, checking, and money market accounts.

3. Transfer funds between my designated savings, checking, money market, and line of credit accounts.

4. Obtain line of credit cash advances, provided I have credit available.

5. Make payments to my line of credit, L-type mortgage and installment loans via a transfer or deposit.

6. Cash checks, where available.

7. Make check deposits with cash back.

8. Obtain balance inquiries on my designated accounts.

9. Obtain a printed statement of recent transactions.

10. Obtain a current payoff figure for my line of credit, L-type mortgage and installment loan.

11. Obtain information on the last ten (10) checks cleared against my designated checking account.

ATMs with a Network Logo: 1. Withdraw cash from my designated savings, checking, and obtain line of credit cash advances, provided I have credit available.

2. Transfer funds between my designated savings,

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checking, and line of credit accounts (on my statement, a transfer appears as both a withdrawal and deposit transaction).

3. Obtain balance inquiries on my designated savings, checking, and line of credit accounts.

Point of Sale (POS) Locations: Authorize immediate debits from my designated checking account to make purchases.

Audio Response: 1. Transfer funds from my deposit or line of credit accounts (whether primary or joint):

a. To another account within my member number including savings, checking, money market, lines of credit, installment loans and L-type mortgages.

b. To a different member’s account.

2. Make loan payments via transfer from my savings and checking accounts.

3. Obtain information on:

a. check withdrawals requested from my savings, checking, or money market accounts by the primary or joint account owner, issued via check made payable to the primary account owner and mailed to the primary account owner’s address.

b. a different member’s account where my name appears as joint owner.

c. consumer loan rates.

d. deposit account rates.

e. certificate account rates.

4. Obtain an estimate of a loan payment for a proposed loan.

5. Apply for a consumer loan.

6. Change a PIN for audio response.

7. Reorder checks for my checking and money market accounts.

8. Place a stop payment on a check or a range of checks (refer to STOP PAYMENT ORDERS section).

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9. Request a copy of a statement or of a canceled check.

10. Request check withdrawals from my savings, checking, or money market accounts by the primary or joint account owner, issued via check made payable to the primary account owner and mailed to the primary account owner’s address.

11. Obtain line of credit cash advances, via transfers or check made payable to the primary account owner and mailed to the primary account owner’s address, provided I have an approved loan and credit available.

Internet Banking Access: 1. Transfer funds from my deposit or line of credit accounts (whether primary or joint):

a. To another account within my member number including savings, checking, money market, line of credit, credit card, installment loan, and mortgage.

b. To a different member’s account.

2. Make payments to my line of credit, installment loan, mortgage, or credit card via transfer.

3. Obtain information on:

a. my savings, checking, money market, certificate, and loan accounts;

b. my statements for a specified period;

c. a current payoff figure for my loan or a future payoff figure for my loan;

d. my ACH direct deposits.

4. Obtain tax information on my savings, checking and loan accounts;

5. Apply for a loan;

6. Change my password for Internet Banking access;

7. Reorder checks for my checking account;

8. Place a stop payment on a check or a range of checks (refer to STOP PAYMENT ORDERS section);

9. View and print a copy of a canceled check.

10. Update my residential address, email address and

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telephone numbers;

11. Request check withdrawals from my savings, checking, or money market accounts by the primary or joint account owner, issued via check made payable to the primary account owner and mailed to the primary account owner’s address;

12. Obtain line of credit cash advances, via transfer or check made payable to the primary account owner, and mailed to the primary account owner’s address, provided I have an approved loan and credit available.

Merchant Locations: 1. Authorize debits from my designated checking account to pay for purchases with my Visa Debit card at authorized Visa merchant locations.

2. To provide an HVFCU personal check to a merchant (or other payee) to authorize a check conversion to an electronic funds transfer via ACH (does not apply to Business accounts).

Bill Pay: Access the online Bill Pay service through Internet Banking, to make bill payments without writing a check. Funds can be scheduled to be withdrawn from my checking account to make one-time payments or recurring payments to persons or entities.

Financial Institutions: Make cash withdrawals using my Visa Debit card at an Visa authorized financial institution.

Shared Service Centers: 1. Withdraw from my savings, checking, and money market accounts up to the available amount in my account, provided the Center does not impose a maximum withdrawal amount.

2. Make deposits (in U.S. currency) to my savings, checking and money market accounts. Check deposits will be in accordance with the Funds Availability Policy outlined in the Truth in Savings Disclosure and Account Agreement.

3. Transfer funds under the same member number between my savings, checking, money market and line of credit accounts. Transfers to an account under a diferent

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member number are limited to a maximum of $500.

4. Obtain line of credit cash advances, up to my approved available credit and up to any maximum limits set by each individual Center.

5. Make payments to my line of credit, installment loan or L-type mortgage.

6. Checks may be cashed in accordance with our Funds Availability Policy outlined in the Truth in Savings Disclosure and Account Agreement.

7. Deposit checks to my savings, checking or money market account and receive cash back, based on the available balance in the account on record with the host credit union prior to the transaction.

8. Obtain inquiries on my accounts and purchase printouts of the last ten (10) transactions.

9. Purchase travelers checks, money orders and Shared Service Center drafts with cash or by transferring funds from my account. The maximum amount permitted for money orders is $1,000.

You will notify me of any additional services you may offer in the future.

III. LIMITATIONS ON FREQUENCY OF TRANSACTIONS I may make up to 6 transactions per day using a network (non HVFCU) ATM. I may make up to 10 transactions per day at POS Locations. For HVFCU ATMs, Shared Service Centers, audio response, Internet Banking, Bill Pay, and merchant locations, there is no limit on the number of transactions, except those indicated below:

Savings and Money Market Account Withdrawals: Withdrawal of funds may be made by any of the following means: pre-authorized, automatic, or telephonic (including facsimile, audio response and Internet Banking) withdrawals or transfers from savings and money market accounts are limited to no more than six (6) transfers in each calendar month.

However, I may make an unlimited number of withdrawals from or transfers among my own savings and money market accounts by mail, messenger, at an

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ATM or in person at the credit union. I may also make an unlimited number of withdrawals from my savings and money market accounts through the credit union’s audio response system, or by telephone if I request that the credit union send me a check made payable to me and mailed to my address on record or make a payment to my HVFCU loan.

Transfers or withdrawals in excess of the above limitations will not be honored. Monthly quotas are determined when such withdrawals post or when checks clear my account, not when they are written.

IV. LIMITATIONS ON DOLLAR AMOUNTS OF TRANSACTIONS

1. Through HVFCU ATMs, network ATMs, shared service centers, debit, PIN-based POS and merchant locations, participating Visa financial institutions, signature debit merchant locations, electronic check conversion, audio response, internet banking, telephone, and bill pay:

a. HVFCU ATMs - I may withdraw a maximum of $1,000 per card per day. There is no limit on the amount I may deposit.

b. Network ATMs – I may withdraw a maximum of $500 from a network ATM per card per day. I may withdraw a maximum aggregate amount of $1,500 when combining network ATM and POS transactions. The host institution may set a minimum and a maximum withdrawal amount at a network ATM.

c. Shared Service Centers – Limitations are indicated in the Shared Service Centers section under TYPES OF SERVICES.

d. PIN-Based Debit (POS) at Merchant Locations - The maximum purchase or withdrawal is $1,000 per card, per day. At POS locations there is a maximum of $9,999.99 on deposits per day.

e. Participating Visa Financial Institutions – I may make a maximum of $5,000 cash withdrawals using my Visa Debit card per card, per day, when combining cash withdrawals and credit, signature debit purchases.

f. Credit Signature Debit Merchant Locations - I may make Visa Debit card purchases up to $5,000 per card, per day when combining cash withdrawals and credit, signature debit purchases.

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http:9,999.99

g. Electronic Check Conversion - Personal checks (written from checking accounts, not convenience checks) converted to electronic fund transfers via ACH are restricted to $25,000.

h. Bill Pay - I may make bill payments up to the funds available in my checking account.

2. Preauthorized credit or debit arrangements received by HVFCU - There are no dollar limits on pre-authorized credits, i.e. payroll or Social Security. Preauthorized debits, i.e. loan or insurance payments are limited to the funds available in my account.

3. Preauthorized credit or debit arrangements originated by HVFCU - For personal accounts, there is a maximum of up to $5,000 per day, provided the funds are available in the account. For business account requests made in person or via telephone, there is a maximum of up to $5,000 per day, provided the finds are available in the account; for requests made via Business Internet Banking, the amount is limited to the terms as disclosed in the Hudson Valley Federal Credit Union ACH Origination Agreement.

V. OTHER LIMITATIONS 1. HVFCU ATMs, Shared Service Centers, POS locations, audio response, Internet Banking, Bill Pay, and merchant locations:

a. HVFCU ATMs:

1. I may cash checks up to $200.

2. When I make an envelope deposit or check deposit, $200 of the deposit will immediately be available for withdrawal and the remainder will be available when the depository is proved or when the required hold period has elapsed (See the Funds Availability Policy section of the Truth in Savings Disclosure and Account Agreement).

b. POS Locations - POS purchases will be debited from the available balance in my designated checking account which must be current and active with no restraints or restrictions.

c. Audio Response, Telephone and Internet Banking -Transaction accounts must be current and active with no restraints or restrictions. The available balance (current balance minus any held funds) must be equal

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to or greater than the requested amount. The loan advance amount, plus balance due, must be less than or equal to my credit limit amount. Payments made to credit card and mortgage loans may take up to 48 hours to be applied.

d. Bill Pay- Bill payments will be debited from my designated checking account. The account must be current and active with no restraints. Payments outside the United States are prohibited through the Bill Payment service.

You, and the Bill Pay service, reserve the right to refuse to pay any person or entity to which I direct a payment. You, or the Bill Pay service, are obligated to notify me promptly if you decide to refuse to pay any person or entity designated by me. This notification is not required if I attempt to make a payment that the credit union has established as a category of payments that I may not direct payment to.

e. Merchant Locations – Visa Debit card purchases and electronic check conversions will be debited from my designated checking account. The account must be current and active with no restraints or restrictions.

2. Preauthorized Deposits or Withdrawals:

a. Preauthorized deposits will be credited and available in my account on the morning of the settlement date, provided the credit union has received the deposit on the business day prior to the settlement date.

b. Preauthorized withdrawals may be processed on a savings, money market or checking account and will debit the account on the morning of the effective date.

3. All transactions will be subject to the rules, regulations, bylaws and operating procedures of the credit union.

VI. YOUR RIGHT TO RECEIVE DOCUMENTATION OF TRANSACTIONS 1. HVFCU ATMs - I may receive a receipt.

2. Network ATMs, Shared Service Centers and POS locations - I will receive a receipt at the time I make any transaction to or from my account.

3. Merchant Locations - I may receive a receipt when I make a Visa Debit card purchase at a merchant location.

4. Audio Response and Internet Banking access - Transfers

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via these systems will not generate receipts.

5. Preauthorized Deposits or Payments - I may obtain information regarding pre-authorized deposits or payments by calling the HVFCU Contact Center at the telephone number referenced in Section IX. (See Section XVII and XVIII regarding additional documentation.)

6. Bill Pay - Bill payments made through this service will not generate receipts. Transactions will appear on my monthly periodic statement.

7. Periodic Statements - If I have only a savings and/or an IRA savings account with you, I will receive quarterly statements, unless I perform an electronic transaction via an ATM, audio response, Internet Banking, ACH pre-authorized deposit or payment, in which case I will receive a monthly statement. If I have other accounts with you, I will receive regular monthly statements which will include my savings and IRA savings, regardless of any activity on these accounts. Statements will identify the electronic terminal, merchant, or financial institution at which transactions were made, but receipts cannot be provided with statements. You will retain the receipts furnished at the time of the transaction in order to verify your statement and record the transactions in your records.

VII. BUSINESS DAY

A “business day” means any day an HVFCU full service branch is open for carrying on substantially all business functions (usually excludes Sundays and holidays). A “business day” for Bill Pay means Monday through Friday, excluding Federal Reserve holidays. Close of business is at a designated time for a particular office. Our business day for branches, ATMs, audio response, Internet Banking ends at approximately 7:00 P.M EST. Hours for Shared Service Center locations vary. Our business day for Bill Pay ends at 11:59 P.M EST.

ATMs, audio response, Internet Banking and Bill Pay access are generally available twenty-four (24) hours a day, seven (7) days a week (except for maintenance periods on the computer or failure of communications and/or computer equipment).

VIII. DISCLOSURE OF ACCOUNT INFORMATION TO THIRD PARTIES You will disclose information to third parties about my

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account or the transactions I make:

1. Where it is necessary for completing electronic transactions.

2. To verify the existence and condition of my account for a third party such as a credit bureau or merchant.

3. To comply with a government agency, court order or any legal process.

4. If I give you written permission.

5. If you are unable to complete an electronic transfer or payment because of insufficient funds.

IX. TELEPHONE NUMBER AND ADDRESS TO BE NOTIFIED IN EVENT OF UNAUTHORIZED TRANSACTIONS If I believe that my HVFCU ATM/Visa Debit card and/ or PIN, and/or my Internet Banking password has been lost or stolen, or that a transfer has been made using the information from one of my checks without my permission, or I believe that someone has transacted or may transact on my account without my permission, I will stop by the nearest branch or call the HVFCU Contact Center Monday thru Friday 8-7, Saturday 9-5 EST at 800.468.3011 or 845.463.3011.

I may also report any unauthorized transactions in writing to Hudson Valley Federal Credit Union, P.O. Box 1071, Poughkeepsie, NY 12602-1071.

X. IN CASE OF ERRORS OR QUESTIONS ABOUT MY ELECTRONIC TRANSACTIONS If I think my statement or receipt is wrong, or if I need more information about a transaction listed on the statement or receipt, I will contact the credit union at the telephone number and/or address referenced in Section IX. I understand you must hear from me no later than sixty (60) days after you sent me the FIRST statement on which the problem or error appeared. I must:

1. Tell you my name, member number and account number.

2. Describe the error or the transaction I am not sure about and explain as clearly as I can why I believe it is in error or why I need more information.

3. Tell you to the extent possible, the type, date and

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amount of the suspected error. If I tell you verbally, you may require that I send you my complaint or question in writing within ten (10) business days of the oral notice.

You will investigate promptly and determine whether an error occurred within ten business (10) days (or 20 business days for new accounts) of receiving a notice of error regarding the Bill Pay service, ATM, POS, or other electronic transaction, and you will correct the error within one (1) business day after determining that an error occurred.

If you need more time, however, you may take up to 45 days to investigate my complaint or question on a Bill Pay service, HVFCU ATM, Shared Service Center, audio response, Internet Banking, pre-authorized deposit or payment transaction, or up to 90 days on foreign-initiated Electronic Funds Transfer (EFT), POS or new account transfer. If you decide to take more time, you will provisionally credit my account within ten (10) business days for the amount I think is in error so that I will have the use of the money during the time it takes you to complete the investigation. If you ask me to put my complaint or question in writing, and you do not receive it within ten (10) business days, you may not provisionally credit my account during the additional time that may be required to investigate my compliant or question.

4. You will contact me or send me a written explanation within three (3) business days after you finish your investigation. I may ask for copies of the documents that you used in your investigation.

XI. CONSUMER’S LIABILITY I understand that I cannot use any ATM or POS location without my HVFCU ATM/Visa Debit card and my credit union issued PIN. I also understand that I cannot have audio response access without my PIN(s), or Internet Banking without a password.

I understand that I am responsible for the safekeeping of my ATM/Visa Debit card and PIN(s), and for all electronic transactions made by use of my ATM/Visa Debit card and/or PIN(s). My ATM/Visa Debit card should be kept secure and my PIN(s) should be memorized and kept confidential at all times to avoid unauthorized electronic funds transactions.

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I will notify you AT ONCE, in person, via telephone, or in writing if I believe my ATM/Visa Debit card and/or PIN(s), or Internet Banking password, has been lost or stolen. I understand telephoning is the best way of keeping my possible losses down. Delayed notification could result in the loss of all the money in my accounts plus my maximum unsecured line of credit. I will send you written notification stating that my ATM/Visa Debit card and/ or PIN(s), or Internet Banking password has been lost or stolen. If I notify you within two (2) business days, I can lose no more than $50 (Internet Banking, ATM, and Bill Pay) and no liability (Visa Debit card) if someone uses my ATM/Visa Debit card and/or PIN(s) or Internet Banking password without my permission.

If I do NOT notify you within two (2) business days after I learn of the loss or theft of my ATM/Visa Debit card and/or PIN(s), or Internet Banking password and you can prove that you could have prevented someone from using it if I had told you, I could lose as much as $500 (Internet Banking, ATM, and Bill Pay) and $50 (Visa Debit card).

XII. CREDIT UNION LIABILITY FOR FAILURE TO MAKE TRANSACTIONS If you do not properly complete an electronic funds transaction to my account on time or in the correct amount according to your agreement with me, you may be liable for my losses and damages. However, there are some exceptions. You will not be liable, if for instance:

1. The transfer was prevented by circumstances beyond your control (such as fire, flood, electronic failure or malfunction of central data processing facility, etc.) which you have taken reasonable precautions to avoid.

2. Through no fault of yours, I do not have enough money in my account (or sufficient collected funds) to make a transaction.

3. The funds in my account are subject to an uncollected funds hold, legal process or other circumstances restricting such transaction or payment.

4. The ATM, audio response system, Internet Banking, Bill Pay, or other electronic service system contemplated hereunder was not working properly and I knew about this breakdown when I started the transaction.

5. The ATM where I was making the transaction did

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not have enough cash, or cash in the denominations I requested.

6. My ATM/Visa Debit card or PIN has been reported lost or stolen, has expired, is damaged so that the terminal cannot read the encoding strip, is inactive due to non-use, is retained by you at my request, or my ATM/ Visa Debit card or PIN has been repeatedly entered incorrectly.

7. The transaction would exceed my unsecured line of credit limit.

8. Your failure to complete the transaction is done to protect the security of my account and/or the electronic terminal system.

9. You have received incorrect or incomplete information from me or from third parties (e.g. the U. S. Treasury, an automated clearing house, or a terminal owner).

10. The withdrawals or transfers from your savings and money market accounts have reached the maximum number permitted by regulation.

11. A person or entity mishandles or delays a payment sent through Bill Pay.

12. There may be other exceptions.

XIII. CHARGES FOR TRANSACTIONS All charges associated with my electronic funds transactions are disclosed in your Fee Schedule which accompanies this Disclosure and Agreement. A stop payment placed on a pre-authorized electronic payment is subject to a fee, as disclosed in your Fee Schedule, for each stop payment order I give. If I request a copy of the documentation relative to an ATM transaction (except if the documentation is for resolution of a billing error), a fee equal to your reasonable cost of reproduction may be charged. Any fees charged will be deducted from my savings or checking account.

The first eight (8) network ATM transactions each month are free. You will charge my account for each network ATM transaction over the eight (8) per month, as disclosed in your Fee Schedule. Transactions subject to this charge are withdrawals, transfers, and inquiries.

Transactions at certain ATMs which are not owned by HVFCU may be subject to an additional fee or “surcharge” by the owner of the terminal. There are no charges for

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transactions performed at HVFCU ATMs

Purchases and cash advances made in foreign countries and foreign currencies will be converted into U. S. Dollars in accordance with the operating rules for international transactions established by Visa USA, Inc. and may occur on a date other than the date of the transaction; therefore, the currency conversion rate may be different than the rate in effect at the time of the transaction. We do not determine the currency conversion rate that is used nor do we receive any portion of the currency conversion rate. I agree to accept the converted dollar amount deducted from my checking account. The exchange rate to dollars will be a rate that is in effect for the applicable central processing date and is selected by Visa USA, Inc. either from the range of rates available in wholesale currency markets; or the government mandated rate. An International Transaction Fee of 1% of the transaction amount will be assessed and will be shown independently of the transaction on your statement.

XIV. CHANGES IN TERMS You may change the terms and charges for the services indicated in this Electronic Funds Transfer Disclosure and Agreement and may amend this Disclosure and Agreement from time to time. If I have an account with you through which electronic transactions are being processed, I will receive written notice at least twenty-one (21) days prior to the effective date of the change(s), or as otherwise provided by law.

XV. DISCLOSURE OF DELAYED FUNDS AVAILABILITY I will refer to the Truth in Savings Disclosure and Account Agreement for information on the Funds Availability Policy.

XVI. TERMINATION OF ELECTRONIC FUNDS TRANSACTION SERVICES Electronic services may be terminated if any of my credit union loans that I am primary, joint borrower, or co-maker on, are in default.

I may, by written request, terminate any of the electronic services provided for in the Disclosure and Agreement. Bill Pay service may be terminated through the Bill Pay service provider. You may terminate my right to make electronic funds transactions at any time upon written notice, except where in your judgment, immediate

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termination without notice is necessary. If I ask you to terminate my account or the use of my ATM/Visa Debit card, PIN, Internet Banking password, or any other access device, I will remain liable for subsequent authorized transactions performed on my account.

XVII. ADDITIONAL DISCLOSURES APPLICABLE TO PREAUTHORIZED DEPOSITS OR ACH If I have arranged to receive ACH or direct deposits to my account, you may provisionally credit my account for an ACH transfer before you receive final settlement/ payment. If final payment is not received, you may charge my account for the amount of such provisional credit or ACH transfer and any applicable “Returned Item” fee, or I will refund you the amount of such items.

If I have arranged to have ACH, pre-authorized or direct deposits made to my account, the following applies to me:

1. Preauthorized or direct deposits can be made to any of my deposit accounts.

2. If I have arranged to have pre-authorized or direct deposits to my account(s) at least once every sixty (60) days from the same person, company or governmental agency, that third party making pre-authorized or direct deposits may have agreed to notify me every time the party sends you money to deposit to my account. If I have not made such an arrangement, I may telephone you at the telephone number referenced in Section IX and you will advise me whether or not the pre-authorized deposit has been made. You will also notify me of the receipt of payments in periodic statements you will send me.

XVIII. ADDITIONAL DISCLOSURES APPLICABLE TO PREAUTHORIZED PAYMENTS If I have requested a pre-authorized payment to a third party from my credit union account, the following applies to me:

1. I can receive copies of pre-authorized payment documentation from you, if applicable, or from the third party being paid at the time I give them authorization.

2. Notice of Varying Amounts or Change of Payment

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Date – If pre-authorized payments vary in amount or date of payment, the organization I am paying will notify me of a change at least ten (10) calendar days in advance of the date of affected scheduled payment, or seven (7) calendar days in advance of a change in payment date. This notice will inform me of the new withdrawal amount or payment date.

XIX. STOP PAYMENT ORDERS checking and money market account stop payment orders that are placed via the telephone or through an electronic terminal are considered “oral” stop payments and are binding upon the credit union only for fourteen (14) calendar days, unless confirmed in writing within that period. A written order will remain in effect only for six (6) months, but may be renewed in writing for additional six (6) month periods by written notice given during the time the stop payment order was effective. I have the burden of establishing the fact and amount of loss resulting from payment contrary to a binding stop payment order. When issuing a stop payment order, I agree to provide the check number, date of check and name of payee (if applicable). I agree that a stop payment fee will be assessed as set forth in your Fee Schedule. For more stop payment information, I will refer to Section II, TERMS AND CONDITIONS APPLICABLE TO ALL CHECKING ACCOUNTS of the Truth in Savings Disclosure and Account Agreement.

STOP/REVOKE PREAUTHORIZED PAYMENTS: If I want to stop any of the pre-authorized payments or revoke a pre-authorized payment authorization, I must contact you at the telephone number and/or address referenced in Section IX in time for you to receive my stop payment request, no less than three (3) business days or more before the date the transfer is scheduled to be made. If I call, you may require written confirmation of the stop payment order within fourteen (14) calendar days of the oral notification. A stop payment order is valid for a pre-authorized payment is valid for the number of specified payments or until I withdraw the stop payment, whichever is earlier. A revocation is valid only for recurring pre-authorized payments. You will charge me for each stop payment or revocation request I give pursuant to your current Fee Schedule. If I have given you a request to revoke my entire pre-authorized payment authorization, I understand and agree that I must also promptly contact the third party to cancel (revoke) the

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entire pre-authorized payment authorization and provide you with a copy of my written revocation notice to the third party.

If I order you to stop any of my pre-authorized payments no less than three (3) business days before the transfer is scheduled, and you do not do so, you will be liable for my losses or damages to the extent provided by law.

In the event my account has been debited for an unauthorized ACH debit or pre-authorized payment, the credit union will promptly credit the amount of the debit when:

1. I send or deliver to the credit union a written statement that the debit entry was one of the following:

a. not authorized by me;

b. the authorization for the ACH entry was revoked;

c. the amount debited is different from the amount authorized;

d. the debit was made to my account on a date earlier than the date on which I authorized the debit to occur.

2. This affidavit is sent or delivered to the credit union within sixty (60) days from the date the credit union sends or makes available to me information relating to the debit entry. I understand that an unauthorized debit does not include a debit entry initiated with fraudulent intent by me or any person acting in concert with me.

TO STOP BILL PAY SERVICE PAYMENTS: I will contact the Hudson Valley Federal Credit Union’s Bill Pay service line at 1-877-268-5652. The Bill Pay service may not have a reasonable opportunity to act on any stop payment order given after a payment is in process, and it is not possible to stop a payment, which is already completed. If I desire to stop any payment, which is in process, I must call HVFCU’s Bill Pay service line, and they will make every effort to accommodate my request, although the service will have no liability for failing to do so. Stop payment requests will be accepted only if the service has a reasonable opportunity to act on such requests. If I call, the service may also require me to present my request in writing within fourteen (14) days after I call. The charge

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for each stop payment will be assessed as set forth in your Fee Schedule schedule.

XX. ATM/VISA DEBIT CARD AGREEMENT 1. The ATM/Visa Debit card remains the property of

Hudson Valley Federal Credit Union and I agree to surrender the card(s) to you upon demand. You may cancel, modify or restrict the use of any card upon proper notice or without notice if my account is overdrawn, if you are aware that I have violated any term of this Disclosure and Agreement, whether or not you suffer a loss, or where necessary to maintain or restore the security of my account(s) or the ATM system. You also reserve the right to recall the card(s) through retrieval by any of the ATMs. Each member whose name appears on a card assumes joint and several liability for all financial transactions resulting from the card.

2. I must keep my card in a safe place and permit no unauthorized person to use it.

3. I must not tell any unauthorized person my PIN or write my PIN on my card or otherwise make it available to anyone else.

4. I must tell you IMMEDIATELY of any loss or theft of my card or PIN. If I give my card or PIN to anyone, any withdrawal or transfer by that person will be considered to be authorized by me.

5. I agree to follow the instructions posted or otherwise given by you or any ATM network concerning use of an ATM.

6. This card may be used, as applicable, for cash withdrawals, check cashing, deposits, transfers, POS transactions, Shared Service Center transactions, merchant purchases, installment loan or L-type Mortgage payments and unsecured line of credit payments and advances, subject to terms and conditions of any existing line of credit of which this agreement is a part.

7. I will not use the card to overdraw my account. However, if I do overdraw my savings, checking or money market account, I will refer to the information regarding overdraft coverage in the Truth in Savings Disclosure and Account Agreement.

8. I will not use my card to overdraw my unsecured line of credit, if any. However, if I do overdraw, I

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authorize the credit union to withdraw the funds to cover the overdrawn amount in accordance with the information regarding overdraft coverage in the Truth in Savings Disclosure and Account Agreement.

9. The credit union may charge withdrawals to checking accounts in any order it determines and if funds are not sufficient, ATM/Visa Debit card withdrawals may be paid and regular checks dishonored.

10. Receipts issued for transactions made by use of the ATM/Visa Debit card are binding on the credit union only after verification.

11. The credit union will not be liable for failure to honor the card due to improper use or retrieval of the card by an ATM.

12. Amendments to this agreement may be provided to me in accordance with applicable laws, without restatement of the terms.

XXI. VERIFICATION All transactions affected by use of an ATM, POS terminal, Shared Service Center, audio response system or other electronic transaction contemplated hereunder which would otherwise require my signature, or another authorized signature, shall be valid and effective as if signed by me when accomplished by use of the card(s) and/or PIN(s) or as otherwise authorized under this Agreement. Deposits at an ATM are subject to verification by you and may only be credited or withdrawn in accordance with your “Funds Availability Policy.” Transactions accomplished after the close of normal business each day shall be deemed to have occurred on your next business day. You are not responsible for delays in a deposit due to improper identification on the deposit envelope or improper keying of my transaction. Information accompanying a deposit should include my name, your name, my member number and where I want my deposit to go. If I make a deposit to my checking account with you, the checking account deposit slip should be included.

XXII. GOVERNING LAWS This agreement is governed by the credit union’s bylaws, federal laws and regulations, the laws including applicable principles of contract law, New York State’s laws, the National Automated Clearing House Association

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Operating Rules, and local clearinghouse rules, as amended from time to time, as amended from time to time.

XXIII. ILLEGAL USE OF FINANCIAL SERVICES Any financial service provided by the credit union may be used for any transaction permitted by law.

The Unlawful Internet Gambling Enforcement Act of 2006 prohibits any person engaged in the business of betting or wagering from knowingly accepting payments in connection with the participation of another person in “unlawful Internet gambling,” defined as “placing, receiving, or otherwise knowingly transmitting a bet or wager by any means which involves the use, at least in part, of the Internet where such bet or wager is unlawful under any Federal or State law in the State in which the bet is made. Restricted transactions are prohibited from being processed through your HVFCU accounts. Restricted transactions are transactions in which a person accepts credit, funds, instruments or other proceeds from another person in connection with unlawful Internet gambling.

I agree that illegal use of any financial service will be deemed an action of default and/or breach of contract and such service and/or other related services may be terminated at your discretion. I further agree, should illegal use occur, to waive the right to sue you for such illegal activity directly or indirectly related to it. I also agree to indemnify and hold the credit union harmless from any suits or other legal action or liability, directly or indirectly, including credit union expenses associated with defense of such law suits or other legal action, including attorney fees, resulting from such illegal use.

XXIV. ACCOUNTS OF BUSINESSES OR ORGANIZATIONS Accounts held in the name of a business are subject to all of the conditions and terms contained in this agreement except for sections X, XI, and XXI, or where otherwise indicated. The fee structure for these accounts is disclosed in the schedule of Fees For Business Services. I/We agree that none of my/our transactions will be given the same consumer protections that are provided by the Electronic Funds Transfer Act and Regulation E. I understand that I am responsible for any lost or stolen ATM/Visa Debit card and/or PIN, and will notify you

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immediately if I/We believe my/our ATM/Visa Debit card and/or PIN has been lost or stolen. Delayed notification could result in the loss of all the money in my/our account. I/We further agree to be totally responsible for any unauthorized transactions including those that an employee might make.

XXV. USING YOUR HVFCU VISA® DEBIT CARD WITHOUT THE USE OF A PIN HVFCU enables non-Visa Debit transaction processing and does not require that all such transactions be authenticated by a PIN. A non-Visa Debit transaction may occur on my HVFCU Visa Debit card through the NYCE network.

Below are examples to distinguish between a Visa Debit and non-Visa Debit transaction:

Visa Debit Transaction: To initiate a Visa Debit transaction at the point of sale, the cardholder signs a receipt, provides a card number (e.g., in e-commerce or mail/ telephone order environments) or swipes the card through a point-of-sale terminal.

Visa Non-Debit Transaction: To initiate a non-Visa Debit transaction, the cardholder enters a PIN at the point-of-sale terminal or, for certain bill payment transactions, provides the account number for an e-commerce or mail/ telephone order transaction after clearly indicating a preference to route it as a non-Visa transaction.

A non-Visa Debit transaction will not provide the zero liability protection benefit, and if a Rewards program is present, a non-Visa Debit transaction may not be an eligible Rewards transaction.

Provisions of the cardholder agreement relating only to Visa transactions are inapplicable to non-Visa transactions.

XXVI. MANDATORY ARBITRATION Any claim, dispute, or controversy (“Claim”) arising out of or relating to this Agreement or the relationships among the parties hereto shall be resolved by one arbitrator through binding arbitration administered by the American Arbitration Association (“AAA”) in the State of New York, under the AAA Consumer Rules in effect at the time the Claim is filed (“AAA Rules”). Copies of the

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AAA Rules and forms can be located at www.adr.org, or by calling 1-800-778-7879. The arbitrator’s decision shall be final, binding, and non-appealable. Judgment upon the award may be entered and enforced in any court having jurisdiction. The costs of the arbitration, including arbitrator’s fees, shall be borne equally by the parties to the arbitration, unless the arbitrator orders otherwise. This clause is made pursuant to a transaction involving interstate commerce and shall be governed by the Federal Arbitration Act. Neither party shall sue the other party other than as provided herein or for enforcement of this clause or of the arbitrator’s award; any such suit may be brought only in Federal District Court or, if any such court lacks jurisdiction, in any state court that has jurisdiction. The arbitrator, and not any federal, state, or local court, shall have exclusive authority to resolve any dispute relating to the interpretation, applicability, unconscionability, arbitrarily, enforceability, or formation of this Agreement including any claim that all or any part of the Agreement is void or voidable. However, the preceding sentence shall not apply to the clause entitled “Class Action Waiver.”

XXVII. CLASS ACTION WAIVER Any claim must be brought in the respective party’s individual capacity, and not as a plaintiff or class member in any purported class, collective, representative, multi-plaintiff, or similar proceeding (“Class Action”). The parties expressly waive any ability to maintain any Class Action in any forum. The arbitrator shall not have authority to combine or aggregate similar claims or conduct any Class Action nor make an award to any person or entity not a party to the arbitration. Any claim that all or part of this Class Action Waiver is unenforceable, unconscionable, void, or voidable may be determined only by a court of competent jurisdiction and not by an arbitrator.

THE PARTIES UNDERSTAND THAT THEY WOULD HAVE HAD A RIGHT TO LITIGATE THROUGH A COURT, TO HAVE A JUDGE OR JURY DECIDE THEIR CASE AND TO BE A PARTY TO A CLASS OR REPRESENTATIVE ACTION. HOWEVER, THEY UNDERSTAND AND CHOOSE TO HAVE ANY CLAIMS DECIDED INDIVIDUALLY, THROUGH ARBITRATION.

XXVIII. WAIVER OF JURY TRIAL Subject to and without modifying or waiving in any way the clauses above entitled “Mandatory Arbitration”

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http:www.adr.org

and “Class Action Waiver,” each of the parties hereby unconditionally waives any right to a jury trial with respect to and in any action, proceeding, claim, counterclaim, demand, dispute, or other matter whatsoever arising out of or related to this Agreement.

XXIX. SAFETY AT THE ATM I will use caution at all times and keep the following precautionary measures in mind when using an ATM:

1. ATM transactions may be recorded by a surveillance camera.

2. Observe the area for anything unusual or suspicious.

3. Lock my vehicle when I leave it.

4. Have my ATM card in my hand as I approach the machine.

5. Close the entry door completely upon entering and exiting the ATM facility.

6. Avoid reaching into a wallet or purse in front of the ATM.

7. Avoid counting cash at the ATM.

8. Place withdrawn cash securely upon my person before exiting.

9. Take my receipts with me.

10. Lock my doors and roll up all but the driver’s window when using a drive-up ATM.

11. Leave the area immediately if I feel unsafe for any reason.

12. Not permit any unknown persons to enter the ATM facility with me after regular business hours.

13. Go to the nearest public phone and contact the police if emergency assistance is required.

Complaints concerning security at an ATM facility should be directed to the credit union’s security department (refer to Section IX) or to the New York State Banking Department.

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Federally Insured by NCUA

MK00400 V11-5/17

Structure BookmarksElectronic Funds Transfer Disclosure & Agreement Transfer Disclosure & Agreement Hudson Valley Federal Credit Union Important Document Please keep for your records TABLE OF CONTENTS I. Definitions II. Types of Services III. Limitations On Frequency of Transactions IV. IV. IV. Limitations on Dollar Amounts of Transactions

V. V. Other Limitations

VI. Your Right to Receive Documentation of Transactions VII. Business Day VIII. Disclosure of Account Information to Third Parties IX. IX. IX. Telephone Number and Address to be Notified in Event of Unauthorized Transactions

X. X. In Case of Errors or Questions About My Electronic Transfers

XI. Consumer’s Liability XII. Credit Union Liability For Failure to Make Transactions XIII. Charges For Transactions XIV. Changes in Terms XV. Disclosure of Delayed Funds Availability XVI. Termination of Electronic Funds Transaction Services XVII. Additional Disclosures Applicable to Preauthorized Deposits or ACH XVIII. Additional Disclosures Applicable to Preauthorized Payments XIX. Stop Payment Orders XX. ATM/Visa Debit Card Agreement XXI. Verification XXII. Governing Laws XXIII. Illegal Use of Financial Services XXIV. Accounts of Businesses or Organizations XXV. Using Your HVFCU Visa Debit Card Without the Use of a PIN XXVI. Mandatory Arbitration XXVII. Class Action Waiver XXVIII. Waiver of Jury Trial XXIX. Safety at the ATM ELECTRONIC FUNDS TRANSFER DISCLOSURE AND AGREEMENT ELECTRONIC FUNDS TRANSFER DISCLOSURE AND AGREEMENT In this Disclosure and Agreement, unless otherwise noted, the words “I,” “me,” “my,” “us” and “our” mean each and all of those who apply for and/or use any of the electronic services described in this Disclosure and Agreement as a result of signing a membership account application/change member application or opening one or more accounts with Hudson Valley Federal Credit Union. The words “you,” “your,” and “yours” mean Hudson Valley Federal Credit Union (HVFCU). The word “checking” means share draft. The woThis Disclosure and Agreement is given by you in compliance with the Electronic Funds Transfer Act (15 U.S.C. Section 1693, et seq.) and Regulation E (12 CFR 205, et seq.) to inform me of certain terms and conditions of the electronic funds transfer services I have requested. The information in this Disclosure applies only to the electronic service transactions described herein. Provisions in other disclosure documents, as may be revised from time to time, remain effective for all other aspects of the account involved. I acknowledge receipt of a copy of this Disclosure and Agreement. I. DEFINITIONS I. DEFINITIONS For purposes of Regulation E, the Electronic Funds Transfer Act, the following definitions apply: “Electronic check conversion” means that I can authorize a check, draft or similar paper instrument to be used as a source of information to initiate a one-time electronic fund transfer from my account. “Access device” means a card, code, phone, kiosk, personal computer (Internet Banking) or other means of access to my accounts, or any combination that may be used to initiate electronic funds transfers. An access “Access device” means a card, code, phone, kiosk, personal computer (Internet Banking) or other means of access to my accounts, or any combination that may be used to initiate electronic funds transfers. An access device becomes an “accepted access device” when I:

1.1.1. request and receive, sign, use or authorize another person to use the access device to transfer money between accounts, or to obtain money, property or services;

2.2. request validation of an access device issued on an unsolicited basis;

3.3. receive an access device in renewal of, or in substitution for, an accepted access device from either the financial institution that initially issued the device or a successor.

“account” means any account at this credit union. “Electronic terminal” means an electronic device, other than a telephone, where I may initiate an electronic funds transfer. “Electronic funds transfer” means any transfer of funds that is initiated through an electronic terminal, phone, computer or magnetic tape for the purpose of ordering, instructing or authorizing the credit union to debit or credit my account. This includes, but is not limited to, Point of Sale (POS), Automated Teller Machine (ATM), personal computer (Internet Banking), Bill Pay, pre-authorized deposits or pre-authorized withdrawals of funds and transfers initiated by audio response, Shared Service Centers, “Preauthorized electronic funds transfer” means an electronic funds transfer authorized in advance, and recurring at regular intervals. “Unauthorized electronic funds transfer” means an electronic funds transfer from my account initiated by a person other than an account owner, without actual authority to initiate the transfer and from which I receive no benefit. For businesses, “unauthorized electronic fund transfer” means an electronic fund transfer from my account initiated by a person other than the account owner or other than the person who has been furnished with authority to access the account without actual authority to initiate the

II. TYPES OF SERVICES II. TYPES OF SERVICES At the present time, HVFCU participates in several types of services that may be accomplished by electronic transfer. Disclosure information applicable to all electronic services offered by you is given below. I understand that the agreements, terms, conditions, rules and regulations applicable to my savings, checking, money market, Line of credit and any other applicable accounts remain in full force and effect and continue to be applicable, except as specifically modified by this Disclosure and Agreement.1. 1. 1. Preauthorized Deposits – The credit union will accept pre-authorized direct deposits to my savings, checking, or money market account of federal recurring payments such as Social Security, military allotments, etc., or Automated Clearing House (ACH) payments such as company payroll, securities dividends, account transfers from other financial institutions, etc.

2. 2. Preauthorized Debits/Payments – The credit union will make pre-authorized electronic payments from my savings, money market or checking account of ACH debits such as mortgage payments, membership dues, account transfers to other financial institutions, etc. I understand that pre-authorized payments from my savings and money market accounts are subject to Federal Regulation D section II, of the Truth in Savings Disclosure and Account Agreement.

3.3. I may authorize a merchant or other payee to make a one-time electronic payment from my checking account using information from my check to pay for purchases or pay bills. Funds may be withdrawn from my account as soon as the same day I authorize my payment.

4.4. I may access my accounts through HVFCU Automated Teller Machines (ATMs), network ATMs, Shared Service Centers, Point of Sale (POS) locations, audio response, personal computer (Internet Banking), and participating Visa merchant locations (Visa Debit card) and by converting an HVFCU personal check to an electronic fund transfer at participating locations.

If I do not already have a PIN or password for my existing ATM/Visa Debit card or Internet Banking, I may contact you at the address or telephone number referenced If I do not already have a PIN or password for my existing ATM/Visa Debit card or Internet Banking, I may contact you at the address or telephone number referenced in section IX. If I do not already have a PIN for audio response, the system will allow me to assign a PIN of my choice.

I will also contact you at the address or telephone number referenced in section IX to have my PIN reset for audio response, or password reset for Internet Banking access because I have repeatedly entered my PIN/ password incorrectly and the system has not allowed me access to my accounts. I may use my ATM card/Visa Debit card and/or PIN to do the following as applicable: HVFCU ATMs: 1.1.1. Withdraw cash from designated savings, checking, and money market accounts.

2.2. Make deposits to designated savings, checking, and money market accounts.

3.3. Transfer funds between my designated savings, checking, money market, and line of credit accounts.

4.4. Obtain line of credit cash advances, provided I have credit available.

5.5. Make payments to my line of credit, L-type mortgage and installment loans via a transfer or deposit.

6.6. Cash checks, where available.

7.7. Make check deposits with cash back.

8.8. Obtain balance inquiries on my designated accounts.

9.9. Obtain a printed statement of recent transactions.

10.10. Obtain a current payoff figure for my line of credit, L-type mortgage and installment loan.

11.11. Obtain information on the last ten (10) checks cleared against my designated checking account.

ATMs with a Network Logo: 1.1.1. Withdraw cash from my designated savings, checking, and obtain line of credit cash advances, provided I have credit available.

2.2.2. Transfer funds between my designated savings,

checking, and line of credit accounts (on my statement, a transfer appears as both a withdrawal and deposit transaction).

3.3. Obtain balance inquiries on my designated savings, checking, and line of credit accounts.

Point of Sale (POS) Locations: Authorize immediate debits from my designated checking account to make purchases. Audio Response: 1. Transfer funds from my deposit or line of credit accounts (whether primary or joint): a.a.a. To another account within my member number including savings, checking, money market, lines of credit, installment loans and L-type mortgages.

b.b. To a different member’s account.

2.2.2. Make loan payments via transfer from my savings and checking accounts.

3.3.3. Obtain information on:

a.a.a. check withdrawals requested from my savings, checking, or money market accounts by the primary or joint account owner, issued via check made payable to the primary account owner and mailed to the primary account owner’s address.

b.b. a different member’s account where my name appears as joint owner.

c.c. consumer loan rates.

d.d. deposit account rates.

e.e. certificate account rates.

4.4. Obtain an estimate of a loan payment for a proposed loan.

5.5. Apply for a consumer loan.

6.6. Change a PIN for audio response.

7.7. Reorder checks for my checking and money market accounts.

8.8. Place a stop payment on a check or a range of checks (refer to STOP PAYMENT ORDERS section).

9.9. Request a copy of a statement or of a canceled check.

10.10. Request check withdrawals from my savings, checking, or money market accounts by the primary or joint account owner, issued via check made payable to the primary account owner and mailed to the primary account owner’s address.

11.11. Obtain line of credit cash advances, via transfers or check made payable to the primary account owner and mailed to the primary account owner’s address, provided I have an approved loan and credit available.

Internet Banking Access: 1. Transfer funds from my deposit or line of credit accounts (whether primary or joint): a.a.a. To another account within my member number including savings, checking, money market, line of credit, credit card, installment loan, and mortgage.

b.b. To a different member’s account.

2.2.2. Make payments to my line of credit, installment loan, mortgage, or credit card via transfer.

3.3.3. Obtain information on:

a.a.a. my savings, checking, money market, certificate, and loan accounts;

b.b. my statements for a specified period;

c.c. a current payoff figure for my loan or a future payoff figure for my loan;

d.d. my ACH direct deposits.

4.4. Obtain tax information on my savings, checking and loan accounts;

5.5. Apply for a loan;

6.6. Change my password for Internet Banking access;

7.7. Reorder checks for my checking account;

8.8. Place a stop payment on a check or a range of checks (refer to STOP PAYMENT ORDERS section);

9.9. View and print a copy of a canceled check.

10.10.10. Update my residential address, email address and

telephone numbers;

11.11. Request check withdrawals from my savings, checking, or money market accounts by the primary or joint account owner, issued via check made payable to the primary account owner and mailed to the primary account owner’s address;

12.12. Obtain line of credit cash advances, via transfer or check made payable to the primary account owner, and mailed to the primary account owner’s address, provided I have an approved loan and credit available.

Merchant Locations: 1.1.1. Authorize debits from my designated checking account to pay for purchases with my Visa Debit card at authorized Visa merchant locations.

2.2. To provide an HVFCU personal check to a merchant (or other payee) to authorize a check conversion to an electronic funds transfer via ACH (does not apply to Business accounts).

Bill Pay: Access the online Bill Pay service through Internet Banking, to make bill payments without writing a check. Funds can be scheduled to be withdrawn from my checking account to make one-time payments or recurring payments to persons or entities. Financial Institutions: Make cash withdrawals using my Visa Debit card at an Visa authorized financial institution. Shared Service Centers: 1. 1. 1. Withdraw from my savings, checking, and money market accounts up to the available amount in my account, provided the Center does not impose a maximum withdrawal amount.

2.2. Make deposits (in U.S. currency) to my savings, checking and money market accounts. Check deposits will be in accordance with the Funds Availability Policy outlined in the Truth in Savings Disclosure and Account Agreement.

3. 3. 3. Transfer funds under the same member number between my savings, checking, money market and line of credit accounts. Transfers to an account under a different

member number are limited to a maximum of $500.

4.4. Obtain line of credit cash advances, up to my approved available credit and up to any maximum limits set by each individual Center.

5.5. Make payments to my line of credit, installment loan or L-type mortgage.

6.6. Checks may be cashed in accordance with our Funds Availability Policy outlined in the Truth in Savings Disclosure and Account Agreement.

7.7. Deposit checks to my savings, checking or money market account and receive cash back, based on the available balance in the account on record with the host credit union prior to the transaction.

8.8. Obtain inquiries on my accounts and purchase printouts of the last ten (10) transactions.

9. 9. Purchase travelers checks, money orders and Shared Service Center drafts with cash or by transferring funds from my account. The maximum amount permitted for money orders is $1,000.

You will notify me of any additional services you may offer in the future.

III.LIMITATIONS ON FREQUENCY OF TRANSACTIONS III.LIMITATIONS ON FREQUENCY OF TRANSACTIONS I may make up to 6 transactions per day using a network (non HVFCU) ATM. I may make up to 10 transactions per day at POS Locations. For HVFCU ATMs, Shared Service Centers, audio response, Internet Banking, Bill Pay, and merchant locations, there is no limit on the number of transactions, except those indicated below: Savings and Money Market Account Withdrawals: Withdrawal of funds may be made by any of the following means: pre-authorized, automatic, or telephonic (including facsimile, audio response and Internet Banking) withdrawals or transfers from savings and money market accounts are limited to no more than six (6) transfers in each calendar month. However, I may make an unlimited number of withdrawals from or transfers among my own savings and money market accounts by mail, messenger, at an However, I may make an unlimited number of withdrawals from or transfers among my own savings and money market accounts by mail, messenger, at an ATM or in person at the credit union. I may also make an unlimited number of withdrawals from my savings and money market accounts through the credit union’s audio response system, or by telephone if I request that the credit union send me a check made payable to me and mailed to my address on record or make a payment to my HVFCU loan.

Transfers or withdrawals in excess of the above limitations will not be honored. Monthly quotas are determined when such withdrawals post or when checks clear my account, not when they are written.

IV.LIMITATIONS ON DOLLAR AMOUNTS OF TRANSACTIONS IV.LIMITATIONS ON DOLLAR AMOUNTS OF TRANSACTIONS 1. Through HVFCU ATMs, network ATMs, shared service centers, debit, PIN-based POS and merchant locations, participating Visa financial institutions, signature debit merchant locations, electronic check conversion, audio response, internet banking, telephone, and bill pay: a.a.a. HVFCU ATMs - I may withdraw a maximum of $1,000 per card per day. There is no limit on the amount I may deposit.

b. b. Network ATMs – I may withdraw a maximum of $500 from a network ATM per card per day. I may withdraw a maximum aggregate amount of $1,500 when combining network ATM and POS transactions. The host institution may set a minimum and a maximum withdrawal amount at a network ATM.

c.c. Shared Service Centers – Limitations are indicated in the Shared Service Centers section under TYPES OF SERVICES.

d.d. PIN-Based Debit (POS) at Merchant Locations -The maximum purchase or withdrawal is $1,000 per card, per day. At POS locations there is a maximum of $ on deposits per day. 9,999.99

e.e. Participating Visa Financial Institutions – I may make a maximum of $5,000 cash withdrawals using my Visa Debit card per card, per day, when combining cash withdrawals and credit, signature debit purchases.

f.f. Credit Signature Debit Merchant Locations - I may make Visa Debit card purchases up to $5,000 per card, per day when combining cash withdrawals and credit, signature debit purchases.

g.g. Electronic Check Conversion -Personal checks (written from checking accounts, not convenience checks) converted to electronic fund transfers via ACH are restricted to $25,000.

h. h. Bill Pay - I may make bill payments up to the funds available in my checking account.

2.2.2. Preauthorized credit or debit arrangements received by HVFCU -There are no dollar limits on pre-authorized credits, i.e. payroll or Social Security. Preauthorized debits, i.e. loan or insurance payments are limited to the funds available in my account.

3.3. Preauthorized credit or debit arrangements originated by HVFCU - For personal accounts, there is a maximum of up to $5,000 per day, provided the funds are available in the account. For business account requests made in person or via telephone, there is a maximum of up to $5,000 per day, provided the finds are available in the account; for requests made via Business Internet Banking, the amount is limited to the terms as disclosed in the Hudson Valley Federal Credit Union ACH Origination Agreement.

V. OTHER LIMITATIONS V. OTHER LIMITATIONS 1. HVFCU ATMs, Shared Service Centers, POS locations, audio response, Internet Banking, Bill Pay, and merchant locations: a.a.a.a. HVFCU ATMs:

1.1.1. I may cash checks up to $200.

2.2. When I make an envelope deposit or check deposit, $200 of the deposit will immediately be available for withdrawal and the remainder will be available when the depository is proved or when the required hold period has elapsed (See the Funds Availability Policy section of the Truth in Savings Disclosure and Account Agreement).

b.b. POS Locations - POS purchases will be debited from the available balance in my designated checking account which must be current and active with no restraints or restrictions.

c.c. Audio Response, Telephone and Internet Banking -

Transaction accounts must be current and active with no restraints or restrictions. The available balance (current balance minus any held funds) must be equal Transaction accounts must be current and active with no restraints or restrictions. The available balance (current balance minus any held funds) must be equal to or greater than the requested amount. The loan advance amount, plus balance due, must be less than or equal to my credit limit amount. Payments made to credit card and mortgage loans may take up to 48 hours to be applied.

d. Bill Pay-Bill payments will be debited from my designated checking account. The account must be current and active with no restraints. Payments outside the United States are prohibited through the Bill Payment service. You, and the Bill Pay service, reserve the right to refuse to pay any person or entity to which I direct a payment. You, or the Bill Pay service, are obligated to notify me promptly if you decide to refuse to pay any person or entity designated by me. This notification is not required if I attempt to make a payment that the credit union has established as a category of payments that I may not direct payment to. e. Merchant Locations – Visa Debit card purchases and electronic check conversions will be debited from my designated checking account. The account must be current and active with no restraints or restrictions. 2. Preauthorized Deposits or Withdrawals: a.a.a. Preauthorized deposits will be credited and available in my account on the morning of the settlement date, provided the credit union has received the deposit on the business day prior to the settlement date.

b.b. Preauthorized withdrawals may be processed on a savings, money market or checking account and will debit the account on the morning of the effective date.

3. All transactions will be subject to the rules, regulations, bylaws and operating procedures of the credit union.

VI. YOUR RIGHT TO RECEIVE DOCUMENTATION OF TRANSACTIONS VI. YOUR RIGHT TO RECEIVE DOCUMENTATION OF TRANSACTIONS 1. 1. 1. HVFCU ATMs - I may receive a receipt.

2.2. Network ATMs, Shared Service Centers and POS locations - I will receive a receipt at the time I make any transaction to or from my account.

3.3. Merchant Locations - I may receive a receipt when I make a Visa Debit card purchase at a merchant location.

4. 4. Audio Response and Internet Banking access - Transfers

via these systems will not generate receipts. 5. 5. 5. Preauthorized Deposits or Payments - I may obtain information regarding pre-authorized deposits or payments by calling the HVFCU Contact Center at the telephone number referenced in Section IX. (See Section XVII and XVIII regarding additional documentation.)

6. 6. Bill Pay - Bill payments made through this service will not generate receipts. Transactions will appear on my monthly periodic statement.

7.7. Periodic Statements - If I have only a savings and/or an IRA savings account with you, I will receive quarterly statements, unless I perform an electronic transaction via an ATM, audio response, Internet Banking, ACH pre-authorized deposit or payment, in which case I will receive a monthly statement. If I have other accounts with you, I will receive regular monthly statements which will include my savings and IRA savings, regardless of any activity on these accounts. Statements will identify the electronic

VII.BUSINESS DAY VII.BUSINESS DAY A “business day” means any day an HVFCU full service branch is open for carrying on substantially all business functions (usually excludes Sundays and holidays). A “business day” for Bill Pay means Monday through Friday, excluding Federal Reserve holidays. Close of business is at a designated time for a particular office. Our business day for branches, ATMs, audio response, Internet Banking ends at approximately 7:00 P.M EST. Hours for Shared Service Center locations vary. Our business day for Bill Pay endsATMs, audio response, Internet Banking and Bill Pay access are generally available twenty-four (24) hours a day, seven (7) days a week (except for maintenance periods on the computer or failure of communications and/or computer equipment).

VIII.DISCLOSURE OF ACCOUNT INFORMATION TO THIRD PARTIES VIII.DISCLOSURE OF ACCOUNT INFORMATION TO THIRD PARTIES You will disclose information to third parties about my You will disclose information to third parties about my account or the transactions I make:

1.1.1. Where it is necessary for completing electronic transactions.

2.2. To verify the existence and condition of my account for a third party such as a credit bureau or merchant.

3.3. To comply with a government agency, court order or any legal process.

4.4. If I give you written permission.

5.5. If you are unable to complete an electronic transfer or payment because of insufficient funds.

IX.TELEPHONE NUMBER AND ADDRESS TO BE NOTIFIED IN EVENT OF UNAUTHORIZED TRANSACTIONS If I believe that my HVFCU ATM/Visa Debit card and/ or PIN, and/or my Internet Banking password has been lost or stolen, or that a transfer has been made using the information from one of my checks without my permission, or I believe that someone has transacted or may transact on my account without my permission, I will stop by the nearest branch or call the HVFCU Contact Center Monday thru Friday 8-7, Saturday 9-5 EST at 800.468.3011 or 845.463.3011. I may also report any unauthorized transactions in writing to Hudson Valley Federal Credit Union, P.O. Box 1071, Poughkeepsie, NY 12602-1071.

X.IN CASE OF ERRORS OR QUESTIONS ABOUT MY ELECTRONIC TRANSACTIONS X.IN CASE OF ERRORS OR QUESTIONS ABOUT MY ELECTRONIC TRANSACTIONS If I think my statement or receipt is wrong, or if I need more information about a transaction listed on the statement or receipt, I will contact the credit union at the telephone number and/or address referenced in Section IX. I understand you must hear from me no later than sixty (60) days after you sent me the FIRST statement on which the problem or error appeared. I must: 1.1.1. Tell you my name, member number and account number.

2.2. Describe the error or the transaction I am not sure about and explain as clearly as I can why I believe it is in error or why I need more information.

3.3. Tell you to the extent possible, the type, date and

amount of the suspected error. If I tell you verbally, you may require that I send you my complaint or question in writing within ten (10) business days of the oral notice. You will investigate promptly and determine whether an error occurred within ten business (10) days (or 20 business days for new accounts) of receiving a notice of error regarding the Bill Pay service, ATM, POS, or other electronic transaction, and you will correct the error within one (1) business day after determining that an error occurred. If you need more time, however, you may take up to 45 days to investigate my complaint or question on a Bill Pay service, HVFCU ATM, Shared Service Center, audio response, Internet Banking, pre-authorized deposit or payment transaction, or up to 90 days on foreign-initiated Electronic Funds Transfer (EFT), POS or new account transfer. If you decide to take more time, you will provisionally credit my account within ten (10) business days for the amount I think is in error so that I will have the use of the m4. You will contact me or send me a written explanation within three (3) business days after you finish your investigation. I may ask for copies of the documents that you used in your investigation.

XI.CONSUMER’S LIABILITY XI.CONSUMER’S LIABILITY I understand that I cannot use any ATM or POS location without my HVFCU ATM/Visa Debit card and my credit union issued PIN. I also understand that I cannot have audio response access without my PIN(s), or Internet Banking without a password. I understand that I am responsible for the safekeeping of my ATM/Visa Debit card and PIN(s), and for all electronic transactions made by use of my ATM/Visa Debit card and/or PIN(s). My ATM/Visa Debit card should be kept secure and my PIN(s) should be memorized and kept confidential at all times to avoid unauthorized electronic funds transactions. I will notify you AT ONCE, in person, via telephone, or in writing if I believe my ATM/Visa Debit card and/or PIN(s), or Internet Banking password, has been lost or stolen. I understand telephoning is the best way of keeping my possible losses down. Delayed notification could result in the loss of all the money in my accounts plus my maximum unsecured line of credit. I will send you written notification stating that my ATM/Visa Debit card and/ or PIN(s), or Internet Banking password has been lost or stolen.If I do NOT notify you within two (2) business days after I learn of the loss or theft of my ATM/Visa Debit card and/or PIN(s), or Internet Banking password and you can prove that you could have prevented someone from using it if I had told you, I could lose as much as $500 (Internet Banking, ATM, and Bill Pay) and $50 (Visa Debit card).

XII.CREDIT UNION LIABILITY FOR FAILURE TO MAKE TRANSACTIONS XII.CREDIT UNION LIABILITY FOR FAILURE TO MAKE TRANSACTIONS If you do not properly complete an electronic funds transaction to my account on time or in the correct amount according to your agreement with me, you may be liable for my losses and damages. However, there are some exceptions. You will not be liable, if for instance: 1.1.1. The transfer was prevented by circumstances beyond your control (such as fire, flood, electronic failure or malfunction of central data processing facility, etc.) which you have taken reasonable precautions to avoid.

2.2. Through no fault of yours, I do not have enough money in my account (or sufficient collected funds) to make a transaction.

3.3. The funds in my account are subject to an uncollected funds hold, legal process or other circumstances restricting such transaction or payment.

4.4. The ATM, audio response system, Internet Banking, Bill Pay, or other electronic service system contemplated hereunder was not working properly and I knew about this breakdown when I started the transaction.

5.5.5. The ATM where I was making the transaction did

not have enough cash, or cash in the denominations I requested.

6.6. My ATM/Visa Debit card or PIN has been reported lost or stolen, has expired, is damaged so that the terminal cannot read the encoding strip, is inactive due to non-use, is retained by you at my request, or my ATM/ Visa Debit card or PIN has been repeatedly entered incorrectly.

7.7. The transaction would exceed my unsecured line of credit limit.

8.8. Your failure to complete the transaction is done to protect the security of my account and/or the electronic terminal system.

9.9. You have received incorrect or incomplete information from me or from third parties (e.g. the U. S. Treasury, an automated clearing house, or a terminal owner).

10.10. The withdrawals or transfers from your savings and money market accounts have reached the maximum number permitted by regulation.

11.11. A person or entity mishandles or delays a payment sent through Bill Pay.

12.12. There may be other exceptions.

XIII.CHARGES FOR TRANSACTIONS XIII.CHARGES FOR TRANSACTIONS All charges associated with my electronic funds transactions are disclosed in your Fee Schedule which accompanies this Disclosure and Agreement. A stop payment placed on a pre-authorized electronic payment is subject to a fee, as disclosed in your Fee Schedule, for each stop payment order I give. If I request a copy of the documentation relative to an ATM transaction (except if the documentation is for resolution of a billing error), a fee equal to your reasonable cost of reproduction may be charged. Any feThe first eight (8) network ATM transactions each month are free. You will charge my account for each network ATM transaction over the eight (8) per month, as disclosed in your Fee Schedule. Transactions subject to this charge are withdrawals, transfers, and inquiries. Transactions at certain ATMs which are not owned by HVFCU may be subject to an additional fee or “surcharge” by the owner of the terminal. There are no charges for Transactions at certain ATMs which are not owned by HVFCU may be subject to an additional fee or “surcharge” by the owner of the terminal. There are no charges for transactions performed at HVFCU ATMs

Purchases and cash advances made in foreign countries and foreign currencies will be converted into U. S. Dollars in accordance with the operating rules for international transactions established by Visa USA, Inc. and may occur on a date other than the date of the transaction; therefore, the currency conversion rate may be different than the rate in effect at the time of the transaction. We do not determine the currency conversion rate that is used nor do we receive any portion of the currency conversion ra

XIV.CHANGES IN TERMS XIV.CHANGES IN TERMS You may change the terms and charges for the services indicated in this Electronic Funds Transfer Disclosure and Agreement and may amend this Disclosure and Agreement from time to time. If I have an account with you through which electronic transactions are being processed, I will receive written notice at least twenty-one (21) days prior to the effective date of the change(s), or as otherwise provided by law.

XV.DISCLOSURE OF DELAYED FUNDS AVAILABILITY XV.DISCLOSURE OF DELAYED FUNDS AVAILABILITY I will refer to the Truth in Savings Disclosure and Account Agreement for information on the Funds Availability Policy.

XVI. TERMINATION OF ELECTRONIC FUNDS TRANSACTION SERVICES XVI. TERMINATION OF ELECTRONIC FUNDS TRANSACTION SERVICES Electronic services may be terminated if any of my credit union loans that I am primary, joint borrower, or co-maker on, are in default. I may, by written request, terminate any of the electronic services provided for in the Disclosure and Agreement. Bill Pay service may be terminated through the Bill Pay service provider. You may terminate my right to make electronic funds transactions at any time upon written notice, except where in your judgment, immediate I may, by written request, terminate any of the electronic services provid