EXTERNAL TRANSFERS DISCLOSURE

Any reference to Quorum Federal Credit Union in this Disclosure includes any directors, officers, employees, contractors, agents or licensees of Quorum Federal Credit Union. As used in this document, the words "you" and "your" refer to the member using the Service; the words “the Credit Union”, "we", "us", "our" and any other variation thereof, refer to Quorum Federal Credit Union. Once you have read this Disclosure and you're ready to start enjoying the convenience and financial security of External Transfers, click the "I Accept" button!

Acceptance of Terms
When you click on the "I Accept" button, you agree to accept the terms and conditions (the "Terms") of this Disclosure, including any amendments to the Disclosure or changes in the Terms. If you do not agree to all of the Terms, click on the "I Decline" button. If you do not accept and agree to all of the Terms, you will not be entitled to use the Quorum Federal Credit Union External Transfers Service.

To use the Service you must be at least eighteen (18) years old and have a valid e-mail address.

Quorum Federal Credit Union reserves the right to change the Terms under which the Services are offered in its sole discretion at any time; however, Quorum Federal Credit Union will notify you of any material changes to the Terms. In most cases, you will receive notice online the next time you log in; however, Quorum Federal Credit Union reserves the right to notify you by e-mail or conventional mail, at its discretion. You agree that if you continue to use the Services after we notify you of any change, you thereby accept the changes to the Terms and agree to be bound by this Disclosure, as amended. If you do not agree to the changes, you can unsubscribe by clicking on the “Unsubscribe” option on the Edit Profile page, calling Member Services at 800.874.5544 or 914.641.3700, or Fax Member Services at 914.641.3730.

You can review, download and print the most current version of this Disclosure at any time by clicking “User Disclosure”.
This Disclosure shall be governed by and construed in accordance with the laws of the State of New York (to the extent not preempted by Federal law), without giving effect to its conflict of laws provisions or your actual state or country of residence. If for any reason a court of competent jurisdiction finds any provision or portion of the Terms to be unenforceable, the remainder of the Terms will continue in full force and effect.

This Disclosure shall take effect immediately upon acceptance of your completed registration by Quorum Federal Credit Union.

Definition of Terms

Electronic Funds Transfer Transactions
Deposits to, withdrawals from, or transfers between accounts, which are not originated by check, draft or similar paper instrument including transactions sent via Automated Clearing House (ACH), preauthorized transfers, Bill Payment, debit card transactions at a merchant location or other electronic means.

Business Days
Monday through Friday, excluding Federal and Credit Union holidays.
If the first time transfer send date is on a weekend or holiday and the frequency is:
Every Week or Every 2 Weeks– you will receive an error and must choose a different start date
Once Every Month, Twice Every Month, Every 4 Weeks, Every 2 Months, Every 3 Months, Every 6 Months or Every Year–the Service reschedules the transfer date to the earliest prior business day and displays a message regarding this (also applies to futures instances of the recurring rule).
NOTE: If the transfer is scheduled for a weekend or holiday (CU holiday and/or other financial institution holiday), the money will be debited from the Draw account on the last business day prior to the holiday/weekend.

Draw Account
Account where funds will be debited from.

Receiving Account
Account where funds will be deposited to.

Third Party Accounts
Member accounts held at other financial institutions, accessed through this Service.

Electronic Communications
This Disclosure and any amendments, modifications or supplements to it provided through e-mail notification and/or posted online within the Service. Any initial, periodic or other disclosures or notices provided in connection with the Service, including without limitation those required by federal or state law. Any member services communications, including without limitation communications with respect to claims of error or unauthorized use of the Service.

Content
Any information, data, materials or other content you provide to The Credit Union in order to provide the Service.

General Terms and Conditions
All terms and conditions for the individual account types as stated in the “Truth-In-Savings and Other Account disclosures” apply (i.e. number of monthly transactions allowed on a particular account).

In order to initiate transfers to/from other financial institutions you will be required to provide account information for your third party accounts, such as but not limited to, the financial institution’s routing number and account number and information used to access the financial institution’s online banking service.

You acknowledge that if the Credit Union is provided with incorrect or incomplete information, the Credit Union will make all reasonable efforts to remedy the situation, however you accept full responsibility for any losses resulting from any such errors.

You agree to promptly update your registration records if your e-mail address or other information changes. You may update your records, such as your e-mail address, by using the Personal Profile page.

You may be required to provide proof of ownership of the Receiving account.
Trial Deposits for a low value payment (usually less than $1) may be done to confirm proper account ownership. Your funds are not used for the trial deposits.) You will be asked to confirm the amount of the test transactions in order to verify proper account setup.

B. Types of transfers permitted

One-time only transfers to/from accounts at other financial institutions.

Recurring transfers to/from accounts at other financial institutions.

Person-to-Person Funds Transfer.

C. Transfer limitations

Transfers from Quorum Checking Accounts only.

Transfers are only permitted with U.S. Financial Institutions.

If the funds are not available in the Draw account for any reason, the entire transaction will be canceled. Standard NSF fees will apply to the Draw account.

The Credit Union will not be responsible for restrictions enforced by any other financial institution.

Transaction limits:

• Daily limit: the maximum incoming and outgoing transfers in a single day.
• Rolling 30-day limit: When a new transfer is attempted, all transfers made within the last 30 days are subtracted from this limit to determine the funds available.
• Overall limit: the total available outstanding amount at a point in time for all types of transactions, including inbound and outbound. The outstanding limit is combined across all transaction types, and is $25,000.

D. “External Transfers” Transaction Processing

The debit will be made from the Draw account prior to the credit showing in the Receiving account.

Canceling the transfer request must be done at least 3 Business Days prior to the scheduled transfer.

Transfers initiated and submitted for processing “today” cannot be canceled.

The Credit Union is not responsible for any holds on deposits placed by other financial institutions.

E. Termination of Service

The Credit Union reserves the right to suspend your access to the Service at any time and without prior notice including, without limitation, if the Credit Union, in its sole judgment, believes you have engaged in conduct or activities that violate any of the Terms or the rights of the Credit Union, or if you provide the Credit Union with false or misleading registration information or interfere with other users or the administration of the Service.

You may request a reinstatement of the Service by calling the Credit Union’s Member Service Team at 800.874.5544 or (914) 641-3700. The Credit Union may grant or deny reinstatement of the Service. If granted, it may be with limitations such as lower transaction limits.

If at any time you wish to discontinue your use of the Services, you can unsubscribe by clicking on the “Unsubscribe” option on the Edit Profile page, calling Member Services at 800.874.5544 or 914.641.3700, or Fax Member Services at 914.641.3730. If you prefer, send a registered or certified letter to Quorum Federal Credit Union at 2 Manhattanville Road, Purchase NY, 10577. All pending transactions must be completed prior to the termination of the Service.

Once your External Transfers account with the Credit Union has terminated for any reason, you will have no further right or access to use the Service and the Credit Union will not access your Third Party Accounts thereafter for any reason.

F. Fees

As set forth in the Credit Union Fee Schedule (included herewith).

Fees, if applicable, will be debited from the Draw account at the time the draw is made.

You authorize the Credit Union to deduct any/all fees at the time the transfer is initiated. If the Credit Union is unable to collect the applicable fees due to an insufficient funds situation, you authorize us to debit any of your accounts held at the Credit Union and/or take any means necessary to collect the fees.

Privacy and Security
The Credit Union regards your privacy and security with the utmost importance, and is absolutely committed to safeguarding any information that you share with us. In order to provide the Service, the Credit Union must obtain from you certain personal information regarding your accounts and financial relationships. The Credit Union will collect only such information as you knowingly provide to us or specifically authorize us to obtain on your behalf. Our priority is to keep this information secure and to use it only as you authorize us. The Credit Union will request personal financial information from you only at the time you register. This information is necessary to create your user profile, which allows you to access our Service. You may access, review and update your personal and account information at any time by clicking on Profile.

All of your personal and financial information will be placed on a secure portion of our Web site. The Credit Union will not use any persistent "cookies" on the browser to store any personal information. The Credit Union has multiple levels of security that have been designed especially for us. For more information, please see our Security Policy. A complete statement of our privacy policy can be found in our Privacy Policy.

User Content
Subject to the Credit Union's Privacy Policy described above, you agree that the Credit Union may use, copy, modify, display and distribute Content in order to provide the Service, and you hereby give the Credit Union a license to do so. By submitting Content, you represent that you have the right to license such Content to the Credit Union for the purposes set forth in this Disclosure.
Third Party Accounts

You understand and agree that, in order to provide the Service, it is necessary for the Credit Union to access third party Web sites and data bases containing information regarding your accounts and Third Party Accounts, on your behalf, to retrieve information as requested or authorized by you. By using the Service, you agree to authorize the Credit Union to access such Third Party Accounts to retrieve such Content as requested or authorized by you, or for any other purpose authorized by this Disclosure. You warrant and represent that the information you are providing is true, correct and complete. You represent and warrant that you have the right to authorize and permit the Credit Union access to your Third Party Accounts. You assure us that by disclosing the information to the Credit Union and by authorizing us to use such information to access your Third Party Accounts, you are not violating any third party rights. You hereby authorize and permit the Credit Union to use Content and other information submitted by you to the Credit Union (such as account passwords and user names) to accomplish these purposes and to configure the Service to be compatible with the Third Party Accounts.

For as long as you are using the Service, you give to the Credit Union a limited power of attorney and appoint the Credit Union as your true and lawful attorney-in-fact and agent, with full power of substitution and re-substitution, for you and in your name, place and stead, in any and all capacities, to access the Third Party Accounts, retrieve Content, and use the Content, all as described above, with the full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection with the Service, as fully to all intents and purposes as you might or could do in person. Once the Credit Union has actual knowledge that you wish to cease using the Service as provided in this Disclosure or as otherwise permitted in this Disclosure and has a reasonable opportunity to act on such knowledge, this limited power of attorney is automatically revoked; provided, however, that any act done by Quorum Federal Credit Union in good faith before it has actual knowledge of termination by you shall be deemed to be authorized by you.

You acknowledge and agree that when Quorum Federal Credit Union is accessing and retrieving information from the Third Party Accounts, Quorum Federal Credit Union is acting as your agent, and not as the agent of or on behalf of the third party. You agree that Quorum Federal Credit Union, its affiliates and partners shall be entitled to rely upon the foregoing authorization, agency and power of attorney granted by you.

You agree that Quorum Federal Credit Union shall not be liable for any costs, fees, losses or damages of any kind incurred as a result of:

1. Quorum Federal Credit Union's access to the Third Party Accounts;

2. Quorum Federal Credit Union's retrieval of or inability to retrieve information from the Third Party Accounts;

3. Any inaccuracy, incompleteness or misinformation contained in Content retrieved from the Third Party Accounts and

4. Any charges imposed by the provider of any Third Party Account.

Links To Third Party Sites
The Credit Union Web site may contain links to third party sites ("Linked Sites") as needed or as a convenience to you. The Credit Union does not screen, approve, review or otherwise endorse any content or information contained in any Linked Sites. You acknowledge and agree that The Credit Union, its affiliates and partners are not responsible for the contents of any Linked Sites, including the accuracy or availability of information provided by Linked Sites, and makes no representations or warranties regarding the Linked Sites or your use of them.

You understand and agree that at all times your relationship with each Third Party Account provider is independent of the Credit Union and your use of the Service. The Credit Union will not be responsible for any acts or omissions by the financial institution or other provider of any Third Party Account, including without limitation any modification, interruption or discontinuance of any Third Party Account by such provider.

PIN
To enable you, and only you, to access your External Transfers and use the Service, you will be asked to choose a PIN when you register with us. You are responsible for maintaining the confidentiality of your Login ID and PIN. You are responsible for all uses of your account, whether or not actually or expressly authorized by you. Therefore, it is important that you DO NOT SHARE YOUR ACCOUNT NUMBER, LOGIN ID OR PIN WITH ANYONE FOR ANY REASON. No one at Quorum Federal Credit Union will know or will need to know your PIN, and Quorum Federal Credit Union employees will never ask you for your PIN.

If you believe that your Credit Union External Transfers PIN has been lost, stolen or compromised, or that someone may attempt to use the Service without your consent or has transferred money from your account by accessing your account without your permission, you must notify Quorum FCU immediately by calling us at (800) 874-5544 or (914) 641-3700. You also agree that Quorum FCU may revoke your External Transfers Service if unauthorized account access and/or transactions occur as the apparent result of negligence in the safeguarding of the account belonging to you and/or your authorized user. Further, you agree that, if Quorum Federal Credit Union is notified that you have included the Credit Union in filing of a petition of bankruptcy, Quorum FCU may revoke or refuse to grant you access to the Service and/or Quorum Federal Credit Union Online Banking access to your account.

Your Liability for Unauthorized Transfers
If you notify The Credit Union within two (2) Business Days after you learn of unauthorized access to your External Transfers and/or that your External Transfers PIN has been lost, stolen or compromised, you are liable for no more than $50. If you fail to notify The Credit Union within two (2) Business Days after you learn of unauthorized access to your External Transfers and/or that your External Transfers PIN has been lost, stolen or compromised, and The Credit Union determines that The Credit Union could have prevented the unauthorized access to your External Transfers, or use of your External Transfers PIN had you notified us, you could be responsible for as much as $500. If your monthly statement or your online account detail reflects any transfers or payments that you did not make, notify us at once. If you do not tell us within sixty (60) days after the first statement reflecting an unauthorized transfer(s) or payment(s) was mailed to you, you may not be refunded any money you lost after the sixty (60) days, provided that the Credit Union can prove that we could have stopped someone from taking the money if you had told us in a timely manner.

Electronic Communications
The Quorum Federal Credit Union Service is an electronic, Internet based-service. Therefore, you understand and agree that this Disclosure will be entered into electronically, and that communications regarding the Service ("Communications") may be provided by electronic means.

Although the Credit Union reserves the right to provide Communications in paper format at any time, you agree that the Credit Union is under no obligation to do so. All Communications in either electronic or paper format will be considered to be "in writing." You should print a paper copy of this Disclosure and any electronic Communication that is important to you and retain the copy for your records. If you do not wish to receive this Disclosure or the Communications electronically, you may not use the Service.

Communications may be posted on the pages within the Service and/or delivered to the e-mail address you provide. All electronic Communications sent by e-mail will be deemed to have been received by you when the Credit Union sends it to you, whether or not you received the e-mail. If the Communication is posted on the Service, then it will be deemed to have been received by you no later than five (5) business days after the Credit Union posts the Communication on the pages of the Service, whether or not you retrieved the Communication. An electronic Communication by e-mail is considered to be sent at the time that it is directed by the Credit Union's e-mail server to the appropriate e-mail address. An electronic Communication by posting to the pages of the Service is considered to be sent at the time it is publicly available. You agree that these are reasonable procedures for sending and receiving electronic Communications.

Hardware and Software Requirements.

In order to use the Service and access and retain Communications, you must have:

An Internet browser that supports 128-bit encryption, such as Netscape Navigator version 4.7 or above or Internet Explorer version 5.0 or above.

An e-mail account and e-mail software capable of reading and responding to your e-mail.

A personal computer, operating system and telecommunications connections to the Internet capable of supporting the foregoing.

Sufficient electronic storage capacity on your computer's hard drive or other data storage unit or a printer that is capable of printing from your browser and e-mail software

Proprietary Rights
You acknowledge and agree that the Credit Union owns all rights in and to the Service. You are permitted to use the Service only as expressly authorized by this Disclosure. You may not copy, reproduce, distribute, or create derivative works, reverse engineer or reverse compile any of the Credit Union's Service or technology.

No Unlawful or Prohibited Use
As a condition of using the Service, you warrant to the Credit Union that you will not use the Service for any purpose that is unlawful or is not permitted, expressly or implicitly, by the terms of this Disclosure or by any applicable law or regulation. You further warrant and represent that you will not use the Service in any manner that could damage, disable, overburden, or impair the Service or interfere with any other party's use and enjoyment of the Service. You may not obtain or attempt to obtain any materials or information through any means not intentionally made available or provided for through the Service. You agree that these warranties and representations will remain in full force and effect even if this Disclosure terminates for any reason.

Limitation of Warranty and Liability
You understand and agree that the Service is provided “as-is”. Quorum Federal Credit Union assumes no responsibility for the timeliness, deletion, mis-delivery or failure to store any user communications or personalization settings. You understand and expressly agree that use of the Service is at your sole risk, that any material and/or data downloaded or otherwise obtained through the use of the Service is at your own discretion and risk and that you will be solely responsible for any damages, including without limitation damage to your computer system or loss of data that results from the download of such material and/or data.

QUORUM FEDERAL CREDIT UNION DISCLAIMS ALL WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT AND IT MAKES NO WARRANTY OR REPRESENTATION REGARDING THE RESULTS THAT MAY BE OBTAINED FROM THE USE OF THE SERVICE, THE ACCURACY OR RELIABILITY OF ANY INFORMATION OBTAINED THROUGH THE SERVICE, THE ACCURACY OF ANY INFORMATION RETRIEVED BY QUORUM FEDERAL CREDIT UNION FROM THE THIRD PARTY ACCOUNTS OR THAT THE SERVICE WILL MEET ANY USER’S REQUIREMENTS, BE UNINTERRUPTED, TIMELY, SECURE OR ERROR FREE.

Quorum Federal Credit Union will not be liable for any direct, indirect, incidental, special, consequential or punitive damages of any kind resulting from the use of or the inability to use the Service, any inaccuracy of any information retrieved by Quorum Federal Credit Union from the Third Party Accounts, any breach of security caused by a third party, any transactions entered into based on the Service, any loss of, unauthorized access to or alteration of a user’s transmissions or data or for the cost of procurement of substitute goods and services, including but not limited to damages for loss of profits, use, data or other intangibles, even if Quorum Federal Credit Union had been advised of the possibility of such damages.

Indemnification
You agree to indemnify, defend and hold harmless Quorum Federal Credit Union, its affiliates, partners, officers, directors, employees, consultants and agents from any and all third party claims, liability, damages and/or costs (including, but not limited to, attorneys fees) arising from your use of the Service, Quorum Federal Credit Union’s reliance on the information, instruction, license and/or authorization provided by you under or pursuant to this Disclosure, your violation of the Terms or your infringement, or infringement by any other user of your account, of any intellectual property or other right of any person or entity.

Miscellaneous
You represent and warrant that you are who you claim to be; that you are the rightful owner of all Content and the Third Party Accounts; and that you may rightfully authorize Quorum Federal Credit Union to access the Third Party Accounts. You understand that Quorum Federal Credit Union is not responsible or liable if your financial institution's or any other provider of Third Party Accounts system "goes down" or if they have any system failures and the Credit Union is unable to retrieve information on your behalf.

You agree that our rights and remedies arising out of any breach of your representations and warranties in this Disclosure, the limitations on our liability and our rights to indemnification under this Disclosure are continuing and shall survive the termination of this Disclosure, notwithstanding the lack of any specific reference to such survivability in these provisions. Quorum Federal Credit Union's failure to enforce the strict performance of any provision of this Disclosure will not constitute a waiver of Quorum Federal Credit Union's right to subsequently enforce such provision or any other provisions of this Disclosure.

The most current version of this Disclosure as it appears on our Web site, including any amendments that the Credit Union may make from time to time, constitutes the entire Disclosure between us, and supersedes and replaces all other Disclosures or understandings, whether written or oral, regarding the Service. This Disclosure may be amended, or any of Quorum Federal Credit Union's rights waived, only if Quorum Federal Credit Union agrees in writing to such changes, or you continue using the Service following receipt of notice of any changes proposed by Quorum Federal Credit Union. All notices to you shall be in writing and shall be made either via e-mail, conventional mail or messages delivered through the Service, at Quorum Federal Credit Union's discretion. All notices to Quorum Federal Credit Union must be made in writing and sent to Quorum Federal Credit Union at 2 Manhattanville Road, Purchase NY, 10577, via registered or certified mail. This Disclosure is personal to you and you may not assign it to anyone.

Errors and Disputes
The Credit Union shall incur no liability if it is unable to complete any transfers initiated by you through the Service because of the existence of any one or more of the following circumstances:

If, through no fault of ours, your Draw account does not contain sufficient funds to complete the transfer, or the transfer would exceed the credit limit of your overdraft account;

The transfer processing center is not working properly and you know or have been advised by the Service about the malfunction before you execute the transaction;

The receiving institution mishandles or delays a transfer sent through the Service;

You have not provided the Service with the correct names, phone numbers, or account information for those persons or entities to whom you wish to direct a funds transfer;

Circumstances beyond the Credit Union’s control such as, but not limited to, fire, flood, or interference from an outside force prevent the proper execution of the transaction and the Credit Union has taken reasonable precautions to avoid those circumstances;

Other exceptions set forth in this Agreement.

ERROR RESOLUTION
In case of errors questions about your electronic transfers, or if you think your statement or receipt is wrong or if you need more information about a transfer listed on your statement or receipt, you should contact us as soon as possible. You can:

Call the Credit Union at: (800) 874-5544 or (914) 641-3700

Write to:
Quorum Federal Credit Union
2 Manhattanville Road, Suite 401
Purchase, NY 10577
Attn: Operations; or

E-mail us through our website at www.quorumfcu.org

The Credit Union must hear from you no later than sixty (60) days after you received the FIRST statement on which the problem or error appeared. You must:

Tell us your name and account number;

Describe the error or the 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 us the dollar amount of the suspected error.

If you tell us verbally in person or by telephone, The Credit Union may require that you send us your complaint or question in writing within ten (10) Business Days after providing verbal notification.

The Credit Union will determine whether an error occurred within ten (10) Business Days after the Credit Union hears from you, and will correct any error promptly. If The Credit Union needs more time, however, we may take up to forty-five (45) days to investigate the complaint or question. If the Credit Union decides to do this, we will re-credit your account within ten (10) Business Days for the amount you think is in error, so that you may have the use of the money during the time it takes us to complete our investigation. If the Credit Union asks you to put your complaint or question in writing and we do not receive it within ten (10) Business Days, the Credit Union may not re-credit your account.

For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to ninety (90) days to investigate your complaint or questions. For new accounts, we may take up to twenty (20) Business Days to credit your account for the amount you think is in error.

We will tell you the results within three (3) Business Days after we finish the investigation. If we decide there was no error, we will send you a written explanation. You may ask for copies of documents that we used in our investigation.

DISPUTES
If either of us has any dispute or disagreement with the other regarding this Agreement that we cannot resolve amicably, both parties agree that the sole and exclusive remedy shall be binding arbitration in accordance with the then-current rules and procedures of the American Arbitration Association.

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