Welcome to Louchem FCU - Electronic Funds Transfer Disclosure

LOUCHEM FEDERAL CREDIT UNION 4300 Campground Road Louisville, Kentucky 40216 ELECTRONIC FUNDS TRANSFER DISCLOSURE

This disclosure contains important information about your rights and liabilities, please read thoroughly and retain with your valuable papers for future reference.

ELECTRONIC FUND TRANSFERS
RULES AND REGULATIONS

The following governs any electronic fund transfer ("Transaction") made by you, or anyone authorized by you, in connection with your accounts at the Louchem Federal Credit Union ("Louchem or Credit Union"), whether initiated by an Automated Teller Machine ("ATM") or debit card ("Card"), by pre-authorized transaction (transfers authorized on a recurring basis at regular intervals), by audio response, via home banking over the Internet, or by other means of access provided now or in the future. We will issue you a Personal Identification Number ("PIN") (that you may change to a PIN of your choice) which must be used together with the Card to access the regional network of ATMs, or the national network of ATMs, our own ATMs, or Point-of-Sale Terminals ("POS"). Another PIN (that you may change to a PIN of your choice) will also be necessary to access such services as audio response, home banking, and other electronic systems made available now or in the future to perform Transactions on your Credit Union accounts.

AGREEMENTS. Transactions may only be performed while your accounts have sufficient balances to complete the Transaction requested. Wrongfully obtaining funds from the Credit Union by use of a Card or PIN constitutes a federal criminal offense, punishable by fine or imprisonment, or both. All terms and conditions of any written agreements that have been previously made between you and the Credit Union regarding the use of the Card and PIN and any of your Credit Union accounts apply to all Transactions, unless any terms or conditions in those agreements conflict with the rules and regulations set forth in this disclosure, in which case the rules and regulations of this disclosure shall control. All Transactions, whether deposits, withdrawals, or transfers, made with the Card or PIN are subject to verification by us. Any card or other instrument issued by us shall supersede the present instruments.

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

CHANGES. We reserve the right to change or add to these rules and regulations at any time, upon giving you reasonable notice at least 21 days prior to the effective date of the change. Such notice may consist of enclosing a notice on or in the statement of the account or mailing a notice in a special mailing. Notice to any joint account holder of the Card or PIN is notice to all of you. In the event we determine that an immediate change is necessary to maintain or restore the security of the electronic fund transfer services or to any account, then we may make the necessary change without advising you in advance. We can delay enforcing any of our rights against you without losing them.

ELECTRONIC FUNDS TRANSFER DISCLOSURE

YOUR OBLIGATIONS. It is very important to keep your PIN confidential and separate from your Card to prevent someone from using it to make Transactions without your permission.

Generally. Tell us AT ONCE if you believe your Card or PIN has been lost or stolen. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account, plus your maximum overdraft line-of-credit, if any. If you tell us within 2 business days, you can lose no more than $50.00 if someone used your Card or PIN without your permission. If you believe your Card or PIN has been lost or stolen, and you tell us within 2 business days after you learn of the loss or theft, you can lose no more than $50 if someone used your Card or PIN without your permission. If you do NOT tell us within 2 business days after you learn of the loss or theft of your Card or PIN, and we can prove that we could have stopped someone from using your Card or PIN without your permission if you had told us, you could lose as much as $500.

Tell us AT ONCE, if your statement shows transfers that you did not make. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.

Additionally. Unless you have been grossly negligent or have engaged in fraud, you will not be liable for any unauthorized Transactions using your lost or stolen MasterMoney™ Card. This additional limit on liability does not apply to ATM Transactions or to Transactions using your PIN which are not processed by MACä.

NOTIFICATION OF LOSS. If you believe your Card or PIN has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call: (502) 447-6300 or 1-888-334-7709; or after business hours for your MasterMoney™ or ATM Card at 1-800-523-4175; or write: Member Services, Louchem Federal Credit Union, 4300 Campground Road, Louisville, KY 40216.

BUSINESS DAYS. Our business days are Monday through Friday. Credit Union holidays are not included.

ACCOUNT ACCESS. Indicated below are types of Transactions we are capable of handling, some of which may not apply to your account. The information disclosed to you upon receipt of your Card or PIN will control as to access available to you. These Transactions may be at an ATM or POS, through the audio response or home banking, or any other terminal or device provided now or in the future that is initiated by use of your Card or PIN or both, including:

Withdraw cash from your Share Draft or Savings Accounts.
Make deposits to your Share Draft or Savings Accounts at locations so designated to receive deposits.
Transfer funds between your Share Draft and Savings Accounts whenever you request.
Pay for purchases or services at places that have agreed to accept the Card or PIN.
Balance inquiries for a current amount in your Share Draft or Savings Accounts. This figure may not agree with your records, as some withdrawals, share drafts, or deposits may not yet be posted to your account.
Some of these services may not be available at all terminals.

LIMITATIONS. You may make unlimited transfers up to the amount of funds in your Savings and Share Draft Accounts through the ATM, POS, home banking or telephone during any one-business calendar day. You also may make unlimited deposits. However, you may only make withdrawals for combined cash total per day per Card as disclosed to you at the time of approval. During any interruption of the electronic services system ("off-line" situation), the dollar amount and frequency of Transactions may be reduced. All Transactions made with the Card or a PIN will be subject to the rules, regulations, bylaws or operating procedures of this Credit Union.

PRE-AUTHORIZED CREDITS. You may make arrangements for certain direct deposits to be accepted into your Share Draft or Savings Accounts. FEES. Certain fees may be imposed for use of your Card or your PIN as disclosed to you at the time of approval and on the Rate and Fee Schedule you received. If you need information concerning fees for your Accounts, please request a Fee Schedule by calling (502) 447-6300 or 1-888-334-7709; or writing Members Services, Louchem Federal Credit Union, 4300 Campground Road, Louisville, KY 40216.

We do not charge for direct deposits, preauthorized payments, or transfers to any type of account. When you use an ATM that is not operated by us or by an Alliance One participant, you may be charged a fee by the ATM operator of the machine or by an automated transfer network used to complete the transfer and you may also be charged a fee for a balance inquiry.

THIRD PARTY DISCLOSURE. We will disclose information to third parties about your account or transfers you made as follows:

Where it is necessary for completing transfers; or
In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; or
In order to comply with a government agency or court orders; or
If you give us your written permission.

ACKNOWLEDGMENTS. You will receive certain documentation.

Terminal Transfers. You may receive a receipt as an acknowledgment for each Transaction made to or from your account at any device provided by us now or in the future.

Pre-Authorized Credits. If you have arranged to have direct deposits made to your account at least once every 60 days from any company, individual, or the government, you may call us at (502) 447-6300 or 1-888-334-7709 to find out whether or not the deposit has been made.

Periodic Statements. You will receive a monthly statement of your Share Draft Account unless there are no transfers in a particular month. In any case you will get the statement at least quarterly. You will receive a monthly statement on your Savings Account unless there are no electronic funds transfer monetary Transactions in a particular month. In which case you will receive a quarterly or annual statement on your Savings Account.

PRE-AUTHORIZED PAYMENTS. If you have a written agreement with us or any company so authorized to initiate such agreement on your account, then we will debit your account as you ordered with the following conditions.

Right to Stop Payment. If you told us in advance to make regular payments out of your account you can stop these payments. Here's how:

Call us in care of the Sr. Members Services Officer at (502) 447-6300 or 1-888-334-7709; or write: Sr. Members Services Officer, Louchem Federal Credit Union, 4300 Campground Road, Louisville, KY 40216, in time for us to receive your request 3 business days or more before the payments scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call. There may be a fee associated with the stop payment, see the Fee Schedule for details.

Notice of Varying Amount. If these regular payments may 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.

Liability for Failure to Stop Payment. If you order us to stop one of these payments 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages. This liability will be limited to the dollar amount of the transfer plus any fees and charges which may result from the transfer.

OUR OBLIGATIONS. If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will NOT BE LIABLE, for instance:

If, through no fault of ours, you do not have enough money in your account to make the transfer.
If, when applicable by prior agreement, the transfer would go over the limit on your overdraft line.
If the equipment that you are using does not have enough cash to complete the transaction.
If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.
If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
If the machine malfunctions or ceases to operate during a transaction.
If you make a mistake using the ATM, Point-of-Sale, or any other terminal device provided now or in the future.
If we correct the error before the error causes you any actual damage.
If funds in your account have been attached, garnished, levied against or we are prohibited by law from paying on your account.
There may be further exceptions stated in agreements with you, which may be changed from time to time without notice to you.

ERROR RESOLUTION NOTICE

In case of questions or errors about your Transactions, call or write us as soon as you can. If you think your statement or receipt is wrong or if you need more information about a transfer listed on your statement or receipt, notify us as soon as you can during business hours:

call: (502) 447-6300 or 1-888-334-7709;
or write: Sr. Members Services Officer, Louchem Federal Credit Union, 4300 Campground Road, Louisville, KY 40216.

We must hear from you no later than 60 days after we first sent the FIRST statement on which the problem or error appeared.

Tell your name and account number; and
Describe the error or transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information; and
Tell the dollar amount or suspected error.

If you tell us orally, we may require that you send your complaint or question in writing within 10 business days.

We will determine whether an error occurred within 10 business days (5 business days for MasterMoney™ Card POS Transactions and 20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a new account, POS Transaction, or foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (5 business days for MasterMoney™ Card POS Transactions and 20 business days if the transfer involved a new account) for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account.

We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation.

You may ask for copies of the documents that we used in our investigation.

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