Common use of Electronic Fund Transfer Services Clause in Contracts

Electronic Fund Transfer Services. At the present time, the following types of electronic fund transfers to or from your account(s) in the credit union may be authorized: Transfer TO your account(s) (credits):  Direct deposits from employers who have agreed to send such deposits to us.  Direct deposit of various governmental benefits.  DIRECT DEPOSITS – If, in connection with a direct deposit plan, we deposit any amount in this account which should have been returned to the Federal Government for any reason, you authorize us to deduct the amount of our liability to the Federal Government from this account or from any other account you have with us, without prior notice except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability.  Deposit(s) from any third party through the facilities of the Payment Authority of which we are a member.)  Automatic transfers to your account(s) from another person’s account with us. Transfers FROM your account(s) (debits):  Automatic deduction from your account of premium for insurance coverage available only to our members.  Payments of your house mortgage payments, insurance payments, and utility bills, as well as other types of payments to third parties, through the facilities of the Payment Authority.  Automatic transfers from your account(s) to another person’s account with us  Automatic transfers from your account(s) to make payments on another person’s loan owing to us. Automated Teller Machine (ATM) Transactions: If you have an ATM/DEBIT card for which we have issued a Personal Identification Number (PIN), you can use it to make any or all of the following transactions at most Automated Teller Machine:  Deposits to Regular Share account, and Share Draft/Checking account.  Cash withdrawals from your Regular Share account and Share Draft/Checking account.  Transfer of funds (non-cash) between Shares, Share Draft, and Line of Credit.  Verify balances in specified savings, checking, or loan accounts that you have with us. (Those are not “electronic fund transfers”.)

Electronic Fund Transfer Services. At the present time, the following types of electronic fund transfers to or from your account(s) in the credit union may be authorized: Transfer TO your account(s) (credits):  • Direct deposits from employers who have agreed to send such deposits to us.  • Direct deposit of various governmental benefits.  • DIRECT DEPOSITS – If, in connection with a direct deposit plan, we deposit any amount in this account which should have been returned to the Federal Government for any reason, you authorize us to deduct the amount of our liability to the Federal Government from this account or from any other account you have with us, without prior notice except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability.  • Deposit(s) from any third party through the facilities of the Payment Authority of which we are a member.)  • Automatic transfers to your account(s) from another person’s account with us. Transfers FROM your account(s) (debits):  • Automatic deduction from your account of premium for insurance coverage available only to our members.  • Payments of your house mortgage payments, insurance payments, and utility bills, as well as other types of payments to third parties, through the facilities of the Payment Authority.  • Automatic transfers from your account(s) to another person’s account with us  • Automatic transfers from your account(s) to make payments on another person’s loan owing to us. Automated Teller Machine (ATM) Transactions: If you have an ATM/DEBIT card for which we have issued a Personal Identification Number (PIN), you can use it to make any or all of the following transactions at most Automated Teller Machine:  • Deposits to Regular Share account, and Share Draft/Checking account.  • Cash withdrawals from your Regular Share account and Share Draft/Checking account.  • Transfer of funds (non-cash) between Shares, Share Draft, and Line of Credit.  • Verify balances in specified savings, checking, or loan accounts that you have with us. (Those are not “electronic fund transfers”.)