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MARINE FEDERAL CREDIT UNION ONLINE SERVICES AGREEMENT, ELECTRONIC STATEMENT AGREEMENT AND ELECTRONIC FUNDS TRANSFER (EFT) DISCLOSURE

References within this agreement include the following:

  • We, us, Marine FCU, and Credit Union refer to Marine Federal Credit Union.
  • MFCU@Home  refers to the online account access system offered by Marine FCU.
  • Online Service(s)  refers to MFCU@Home, MFCU@Home Online Bill Payment and Presentment Service, and Funds Transfer/Pay People Services, either individually or collectively.
  • You, your, my and I refer to all who activate, accept, use or authorize use of MFCU@Home and/or MFCU@Home  Online Bill Payment Service.
  • PIN refers to your Touch Teller Authorization Code, which is the password that is used to access MFCU@Home  for the first time.
  • Password or Access Code refers to your selected code used to access Marine FCU's Online Services.
  • Agreement refers to all the Terms and Conditions Agreements associated with Marine FCU's Online Services.
  • Business Day refers to Monday through Friday excluding Federal holidays.
  • Payment Service refers to MFCU@Home  Online Bill Payment Service and the third party Bill Payment and Presentment service provider.
  • Metavante refers to the third party Bill Payment and Presentment service provider.
  • Payment Account refers to your Marine FCU MarChek checking account and, in the instance of non-sufficient funds and/or an overdrawn account, any applicable share account or available balance on lines of credit at Marine FCU from which all bill payments may be made and/or such funds collected.
  • Payee refers to the vendor, biller, person or entity to which you wish a bill payment to be directed.
  • Payment Instructions refer to the information provided by you to the Payment Service for a bill payment to be made to your Payee (e.g., Payee name, account number, payment amount, payment date, etc.).
  • Business Day refers to Monday through Friday, excluding Federal holidays.
  • Scheduled Payment Date means the Business Day of your choice upon which your bill payment will be made and your Payment Account will be debited.
  • Cutoff Time refers to 7:00 p.m. Eastern Standard Time on any Business Day and is the time by which you must transmit instructions to have them considered entered on that particular Business Day.
  • E-Bill refers to the receipt of a bill in electronic format.  E-Bills may be obtained through a Participating Payee or through obtaining an E-Bill from the website of the Payee.

eStatements: As part of MFCU@Home  access, you request electronic delivery of your periodic statements. You must view the Online Electronic Statement Agreement and click "Sign Up" prior to completing your MFCU@Home  access process. You acknowledge electronic receipt of the eStatement Disclosure.

Electronic Disclosure of the Agreement: You acknowledge electronic receipt of the Agreement associated with Marine FCU's Online Services, MFCU@Home, Electronic Statement and Electronic Fund Transfer Act Disclosure, and agree that you have read and will abide by this Agreement. You also agree that Marine FCU will not provide you with an additional, paper (non-electronic) copy of this Agreement unless specifically requested. Further, you understand that by using your browser's print command and a printer you can print a copy of this Agreement.

Account and Technical Requirements: You understand that you must have Internet Access through an Internet Service Provider (ISP) and Internet Browser software (Microsoft Internet Explorer 6.0, Netscape 6.1 or higher, AOL 8.0 or higher, Firefox 1.0) to use MFCU@Home and MFCU@Home Online Bill Payment Service. You understand that Marine FCU does not make any warranties on equipment, hardware, software or ISP, or any part of them, expressed or implied, including, without limitation, warranties of merchantability or fitness for a particular purpose. Marine FCU is not responsible for any loss, injury or damages, whether direct, indirect, or caused by the ISP, any related software, or MFCU@Home, or the use of any of them or arising in any way out of installation, use or maintenance of your personal computer hardware, software or other equipment.

In order to use Marine FCU's Online Services you must be a member of Marine FCU and have a Touch Teller (24-hour telephone audio response system) Authorization Code. The Touch Teller Authorization Code is the required PIN needed to open/access MFCU@Home online account access. In order to use MFCU@Home Online Bill Payment Service you must also have a Marine FCU MarChek checking or ATM/Debit account. Members who have caused a loss to Marine FCU or are not in good standing with Marine FCU will not be authorized to use Marine FCU's Online Services.

PIN, Password, Access Code, Shared Secret Code: You agree not to give or make available your Touch Teller Authorization Code (PIN), MFCU@Home Password, or Shared Secret Code (when applicable) to any unauthorized individuals. You are responsible for all bill payments and/or funds transfer you and your MFCU@Home Password/Shared Secret Code authorize using the Payment and/or Funds Transfer Services. If you permit other persons to use the Payment and/or Funds Transfer Services or your MFCU@Home Password/Shared Secret Code (even though you have agreed not to disclose this information), you are responsible for all transactions they authorize. If you believe that your MFCU@Home Password has been lost, stolen or compromised, or that someone may attempt to use the Online Services without your consent or has transferred money from your account by accessing your account without your permission, you must notify Marine FCU by calling our 24 hour/seven day a week call center at (910) 577-7333 or (800)-225-3967.

You also agree that Marine FCU may revoke your MFCU@Home and/or MFCU@Home Online Bill Payment Service if unauthorized account access and/or transactions occur as the apparent result of negligence in the safeguarding of the PIN and/or Password. Further, if Marine FCU determines that you have caused a loss to the Credit Union,  Marine FCU may revoke or refuse to grant you MFCU@Home Online Bill Payment Service and/or MFCU@Home online account access.

Fees and Charges: There are no charges or fees for MFCU@Home. Any fees associated with your other deposit account(s) or services will continue to apply. You are responsible for all telephone access fees or Internet service fees that may be assessed by your telephone and/or Internet Service Provider.

If you receive eStatements, there is no fee for MFCU@Home Online Bill Payment and Presentment Service. Otherwise, The fee is $3.95 per month for up to 15 bills paid, plus 50¢ for each additional Bill Payment and Presentment. Your Payment Account will be debited between the fifth (5th) and tenth (10th) Business Day of each month for the previous month's Bill Payment and Presentment service.  The $3.95 fee per month will remain in effect until Marine FCU is contacted to discontinue the Online Bill Payment and Presentment.

Alterations and Amendments: The terms of this Agreement, applicable fees and service charges may be altered or amended by Marine FCU from time to time. In such event, Marine FCU shall notify you. Any use of the Online Services after Marine FCU sends you a notice of change will constitute your agreement to such change(s). Further, Marine FCU may revise or update the programs, services, and/or related material, which may render all such prior versions obsolete. Consequently, Marine FCU reserves the right to terminate this Agreement and all prior versions of MFCU@Home and MFCU@Home Online Bill Payment Service programs, services, and/or related material and limit Online Service access in accordance with the most current Agreement.

Termination and Discontinuation: In the event you wish to discontinue your MFCU@Home Online Service, you must contact Marine FCU at least 10 days prior to the actual service discontinuation. The service discontinuation request may be made in person at any Marine FCU branch, by phone at 910-577-7333 or 800-225-3967, by fax to 910.355.7866, by e-mail to mfcu@marinefederal.org or mail sent to:

Attn: Online Services
Marine FCU
PO Box 1551
Jacksonville, NC 28541-1551

For security purposes, MFCU@Home Online Service will be discontinued after 180 days if you have not logged into your MFCU@Home Online Account.  Marine FCU may terminate use of the Online Service(s) to any individual at any time without advance notice. Neither termination nor discontinuation shall affect your liability or obligation under this Agreement.

Information Authorization: Through your enrollment in Marine FCU's Online Services, you agree that Marine FCU (or its third-party bill payment service provider) reserves the right to request a consumer agency report and/or a review of your credit rating at its own expense through an authorized consumer/credit agency/bureau. In addition, you agree that the Payment Service reserves the right to obtain financial information regarding your account from a merchant or financial institution to resolve payment-posting problems.

Disputes: In the event of a dispute regarding your Online Service(s), you and Marine FCU agree to resolve the dispute by looking to the most updated version of this Agreement. You agree that this Agreement is the complete and exclusive statement of the agreement between you and Marine FCU which supersedes any proposal or prior agreement, oral or written, and any other communications between you and Marine FCU relating to the subject matter of this Agreement. If there is a conflict between information provided verbally by a Marine FCU employee and the terms of this Agreement, the terms of this Agreement shall control.

Assignment: You may not assign this Agreement to any other party. Marine FCU may directly or indirectly assign this Agreement to any future affiliated company. Marine FCU may also assign or delegate certain of its rights and responsibilities under this Agreement to independent contractors or other third-party service providers.

No Waiver: Marine FCU shall not be deemed to have waived any of its rights or remedies hereunder unless such waiver is in writing and signed by Marine FCU. No delay or omission on the part of Marine FCU in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. A waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions.

Captions: The captions of sections hereof are for convenience only and shall not control or affect the meaning or construction of any of the provisions for this Agreement.

Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the State of North Carolina and the Federal Credit Union Act.

MARINE FCU ONLINE ACCOUNT ACCESS

First time users will be required to register for MFCU@Home. You must have a Touch Teller Authorization Code, usually the last four digits of the primary account holder's Social Security Number or Tax Identification Number. You will access the enrollment screen and be prompted to enter your Marine FCU account number (member number) and your password (Touch Teller Authorization Code). After registration is complete, you will be required to change your password, setup your security questions, and add the multifactor authentication security feature to your account. Changing your password in MFCU@Home does not affect your Authorization Code in the Touch Teller system.

Available Transactions: In addition to transactions stated in the Electronic Funds Transaction Disclosure, you may perform the following with MFCU@Home online account access.

1. Review your account histories.
2. Export account histories to hard drive or to financial software such as Microsoft Money or Quicken.
3. Pay most bills with MFCU@Home Online Bill Payment Service option.
4. Change your address.

MFCU@Home allows transfers between members' account numbers. To access this part of the system, the owner or joint owner on the account from which the funds are being transferred must contact Marine FCU. The maximum transfer amount is the available balance in your share accounts, plus the unused portion of your Marine FCU Line of Credit ($50 minimum for Open End Line of Credit, $100 minimum for Home Equity Line of Credit). You may obtain an account transfer agreement by contacting Marine FCU.

ONLINE BILL PAYMENT AND PRESENTMENT.

MFCU@Home Online Bill Payment and Presentment Service allows users to make payments (pay bills) to any individual or entity in the United States or its territories and/or possessions as well as view qualified bills in an electronic format (E-Bill). This service will not be permitted on accounts with overseas addresses with the exception of FPO/APO addresses. Bill Payments may be scheduled up to one year in advance of the scheduled payment date, to pay one-time or on a recurring basis.

Required Accounts:
In order to use MFCU@Home Online Bill Payment and Presentment Service you must have a Marine FCU MarChek or ATM/Debit checking account.

Termination or Discontinuation:
In the event you wish to discontinue your MFCU@Home Online Bill Payment and Presentment Service, you must contact Marine FCU at least 10 business days prior to the actual service discontinuation date. The service discontinuation request can be made in person at any Marine FCU branch, by phone at 910-577-7333 or 800-225-3967, by fax to 910-355-7866, by e-mail to BillPay@marinefederal.org  (please include only the last 3 digits of your account number in your e-mail; this is an unsecured transmission) or you may write to us at the address listed below.

Attn: Online Services
Marine FCU
PO Box 1551
Jacksonville, NC 28541-1551

For security purposes, MFCU@Home Online Service will be discontinued after 180 days if you have not logged into your MFCU@Home Online Account. If service is discontinued any time during any month, the service fee for that month will be drafted from the applicable Payment Account the following month.

Enrollment:
To access the Bill Payment and Presentment option you must first access MFCU@Home and then select the "Bill Payment and Presentment" tab. Marine FCU reserves the right to refuse enrollment in the MFCU@Home Online Bill Payment and Presentment Service to any member who does not meet the MFCU@Home Online Bill Payment and Presentment Service criteria which has been established by Marine FCU and/or the Bill Payment and Presentment service provider.

Use of a Third-Party Bill Payment and Presentment Service Provider: Metavante is the third-party Bill Payment and Presentment service provider with whom Marine FCU has contracted to provide Bill Payment and Presentment service to its members. Metavante will be processing Bill Payment and Presentments and answering questions directly related to these member-initiated Bill Payment and Presentments. Marine FCU, at its sole discretion, reserves the right to change MFCU@Home Online Bill Payment and Presentment Service providers without notice.

By providing the Payment Service with the names and account information of those entities and/or persons to whom you wish to direct payment, you authorize the Payment Service to follow the Payment/E-Bill Instructions that it receives from you through the MFCU@Home Online Bill Payment and Presentment Service. When the Payment Service receives a payment instruction, you authorize it to debit your Payment Account and remit funds on your behalf.

Stopping or Modifying MFCU@Home Online Bill Payment and Presentment Authorized Payments: You may cancel or change Bill Payment and Presentment instructions before the cut-off time the night before the Scheduled Payment Date. In order to request a stop payment or change Bill Payment and Presentment instructions after the cut-off time the night before the Scheduled Payment Date, you must contact Marine FCU customer service at 800.225.3967.

Bill Payment and Presentments: All payments you make through MFCU@Home Online Bill Payment and Presentment Service will be deducted from your designated Payment Account. Sufficient funds must be available by midnight the night before the Scheduled Payment Date, but will be deducted from your Payment Account within 3 business days after the payment 'Send On' date. Any payment you wish to make through the Payment Service must be payable in U.S. Dollars. Each Payee must appear on the Payee list you create within Marine FCU Bill Payment and Presentment Service, and the account you are paying must be in your name. You must allow sufficient time for the Payee to receive and process the payment before the payment due date (the due date shown on your invoice or provided in your agreement with Payee, not taking into account any grace period provided by the Payee). Marine FCU is not liable for any late fees, finance charges or other actions levied against you.

Payment will be made to your Payee either electronically via the Automated Clearing House (ACH) or by check via the United States Postal Service. The method of payment depends upon the processing method that can be accommodated by the Payee or Metavante (e.g., some Payees are unable to accept electronic payments). Payments made through the Payment Service will appear on your Marine FCU periodic statements.

Marine FCU is responsible only for exercising ordinary care in making payments upon your authorization and for mailing or sending a payment to the designated merchant. Marine FCU is not liable for any damages you incur (1) if you do not have sufficient funds in your account to make the payment on the processing date, or (2) if the estimated time to allow for delivery to the Payee is inaccurate, or (3) due to delays in mail delivery, or (4) due to changes of merchant address or account number, or (5) due to the failure of any merchant to correctly credit your account in a timely manner, or (6) due to any other circumstance beyond the control of Marine FCU.

To use the Payment Service, you must keep Marine FCU aware of changes in your current home or business phone numbers, as well as changes in your home mailing address. A written notice of transactions that Marine FCU is unable to process because of non-sufficient available funds (NSF) will be sent to you. In these cases, Metavante blocks online Bill Payment and Presentment processing. You may contact your MFCU@Home Representative to determine when Bill Payment and Presentment processing may be reactivated. In all cases, you are responsible for either making alternate arrangements for the payment or rescheduling the payment through MFCU@Home Online Bill Payment and Presentment Service. Marine FCU and/or Metavante may close your MFCU@Home Online Bill Payment and Presentment Service account due to excessive NSFs.

You authorize Marine FCU and any third-party acting on behalf of Marine FCU to choose the most effective method to process your payments. You will receive a transaction confirmation number for each properly instructed payment. In addition to all other limitations of liability set forth herein, Marine FCU shall not be liable for any failure to make a payment if you do not receive a confirmation number.

Prohibited Payments: The following payment types are prohibited through the Payment Service:

1. Tax Payments.
2. Court Ordered Payments.
3. Payments to Payees outside the United States or its possessions/territories.
4. Other categories of Payees that we may establish from time to time.
5. Other deposit accounts.

Payee Limitations: Marine FCU reserves the right to refuse to pay any person or entity to which you may direct a payment. Marine FCU is obligated to notify you promptly if it decides to refuse to pay a person or entity designated by you. However, this notification is not required if you attempt to pay those which are prohibited under this Agreement.

Address Changes: You agree to promptly notify Marine FCU in writing of any address change. Changing your address on the Payment Service does not automatically update your address of record at Marine FCU. Similarly, updating your address at Marine FCU does not automatically update the address on the Payment Service. You may notify Marine FCU of your address change through MFCU@Home.

In the Event a Service Transaction Is Returned and/or Overdraws Your Payment Account: In using the Payment Service, you are requesting the system to make payments for you from your Payment Account. If we are unable to complete the transaction for any reason associated with your Payment Account (i.e., there are non-sufficient available funds (NSF) in your Payment Account to cover the transaction), the transaction may not be completed. In some instances you will receive a return notice from Marine FCU. In these cases, you agree that an NSF fee will be charged in accordance with Marine FCU's established and published service fees. You also agree that an NSF fee may be charged to your account even if the payment is not returned but is paid and overdraws your Payment Account. By enrolling for and using this MFCU@Home Online Bill Payment and Presentment Service, you agree that Marine FCU has the right to collect funds from all of your share accounts as well as the available balance on your line of credit accounts to recover funds for all payments that have been requested.

E-Bills:    E-Bills is a feature of the Bill Pay service that enables you to receive bills electronically from participating Payees.  You must use Bill Pay and Presentment service in order to receive E-bills.

  • Approval of e-Bills
    Participating Payees establish their own criteria for reviewing requests to receive e-Bills and have sole discretion to accept or decline your request.  We do not participate in this decision.  Participating Payees generally take up to five (5) credit union business days to approve an e-Bill set-up request.
  • Accessing e-Bills from a Third Party
    In some cases we obtain the e-Bill from the web site of the Payee.  To do so, we will ask you for information needed for this purpose, such as any required password.  When you provide this information, you authorize us to access the third party web site to retrieve the account information on your behalf, and you appoint us your agent for this limited purpose.
  • Timely Delivery of e-Bills
    We take no responsibility if a Payee does not provide the necessary data to forward and e-Bill in a timely manner.  If you do not receive a bill, it is your responsibility to contact the Payee directly.  We are not responsible for any late charges or other adverse consequences.   Any Payee questions regarding your bill details should be directed to your Payee.
  • Stop e-Bills
    All parties have the right to cancel the service at any time.  We will notify you if Marine FCU or a Payee discontinues/stops e-Bills.  If you request that an e-Bill be discontinued, we require (7) seven credit union business days for the Payee to receive and process the request.
  • Privacy
    When you establish e-Bills with a participating Payee you will provide certain information that will be forwarded on to the Payee to complete your enrollment.  If you have concerns about the future use of this information you should contact your Payee directly.

FUNDS TRANSFER AND PAY PEOPLE SERVICES

  • You must have Online Banking to make Transfers Outside Marine FCU.
  • Within Online Banking you may utilize the option of transferring funds between your linked personal deposit accounts at Marine FCU and certain deposit or investment accounts at other financial institutions or to another individual.  An inbound transfer moves funds into an account at Marine FCU from an account outside Marine FCU.  An Outbound transfer moves funds from an account at Marine FCU to an account or person outside Marine FCU.  You will need to register each of your non-Marine FCU accounts that you wish to use for these transfers.  You agree that you will only attempt to register accounts for which you have the authority to transfer funds.  Transfers may be Four-Business-Day (Standard), Next-Day (Premium) Transfers, or Pay People Transfers.
    • Standard Transfers:  Funds will be debited the business day after you initiate the transfer, and will be credited on or before the fourth business day after you initiate the transfer.
    • Premium Transfers:  Funds will be debited and credited on the business day after you initiate the transfer.
    • Pay People Transfers:  Funds will be available for you/your payee to collect within two to four business days.
    • Cut-off Time:  The cut-off time for Standard Transfers is 11:59 p.m. ET.  The cut-off for Premium Transfer is 7:00 p.m. ET.  Any Standard Transfer made after the cut-off time will be initiated the next business day.
    • Transfer fees may or may not apply, based on the Delivery Type of the transaction, to transfers with accounts you own at other financial institutions.

Inbound Transfers:

  • There is no fee for transferring funds into Marine FCU, regardless of the Delivery Type you choose.  

Outbound Transfers:

  • If you transfer money to accounts you own at other financial institutions, there will be a fee.  Please see the "Fees and Rates Schedule"
  • Transfers to/from Marine FCU accounts are subject to funds available in the account and to the following dollar limits:
TYPE OF LIMIT STANDARD SERVICE PREMIUM SERVICE
Inbound Transfers
Daily $2000.00 $2000.00
Monthly $5000.00 $5000.00
Outbound Transfers
Daily $15000.00 $2000.00
Monthly $25000.00 $5000.00
Pay Person    
Daily $500  
Monthly $1000  
Overall Limit (Across All Services)

 

 

 

 

 

 

 

 

The above limits apply to the total of all transfers of a specific type for all accounts.  Any transfer initiated on a day that is not a business day counts toward the applicable limit for the next business day.  A transfer remains In Process until fully processed and it will appear as "In Process" on your Funds Transfer area within Online Account Access.  Standard Transfers and Pay Person Transfers typically remain In Process until the close of the fourth business day after the transfer is initiated, and for Premium Transfers, until the close of the next business day after the transfer is initiated.  Once a Pay Person Transfer is available for collection, the recipient has 30 days to collect the money.  If the money is not collected within 30 days the transfer will automatically be cancelled and the funds returned to the account of origin.  Once the collection process has been initiated by a recipient, it will take up to 2 business days for the Pay Person Transfer to be completed.

  • Standard and Pay People Transfers are available to all members, but you agree we may cancel, without prior notice, upon the occurrence of a "Disqualifying Event," as defined below.  Premium Transfers are permitted only at our discretion and the following conditions must be met in order to qualify for Premium Transfers:
    • You must be in good standing with your financial institution.
    • You must not have any Non Sufficient Funds (NSF) experience in the previous Months from the registration date of the Funds Transfer service with your financial institution.
    • You must not have had any negative experience with the Funds Transfer product or the Funds Transfer vendor. Negative experience shall include, without limitation, NSF, Account Closed (debit only), Authorization Revoked by Customer, Payment Stopped, Customer Advises not Authorized, Account Holder Deceased, Beneficiary Deceased, Account Frozen.
    • To be eligible for the Next-Day transfer service, the non-host account to which you are transferring money to is required to make a successful inbound transfer of $500 to your Marine FCU account at least 60 days prior to the date of a Next-Day transfer.
    • For an inbound transaction, your account must have a minimum available balance of $750.
    • For an outbound transaction, your account must have a minimum available balance of $750 after adjusting for the current transaction. Current transactions shall include all transfers that are open and have not been released by the Funds Transfer vendor.

You may determine whether you have been approved for Premium Transfers by going to the Funds Transfer area in Online Banking.  When your account becomes eligible for a particular product you can view the icon of the product next to your account under the Funds Transfer tab.  Once approved, you will remain eligible for Premium Transfers, unless we provide you with notice, as required by law.

  • We may change your dollar limits at any time.  Any decrease will be subject to notice, as required by law, but you agree that we may reduce you limits to the amounts stated above without prior notice upon occurrence of a Disqualifying Event.
  • Each of the following is a "Disqualifying Event":
    • Any of your accounts with Marine FCU are not current or are not in good standing
    • You had had an overdraft, an over-limit item, or an item returned for insufficient funds with respect to any Marine FCU account during the current or four prior calendar months.
    • You have had any prior Transfer Outside Marine FCU between accounts at other financial institutions canceled, revoked, or uncompleted due to insufficient funds, revoked authorization, stopped payments, frozen accounts, or any similar reason. 
  • All Standard and Premium Transfers Outside of Marine FCU are immediate.  You may not cancel after the information has been transmitted to us.  Pending Pay People Transfers may be cancelled by the member using the Funds Transfer interface.


ELECTRONIC FUNDS TRANSFER AGREEMENT AND DISCLOSURE:

This Electronic Funds Transfer Agreement is the contract which covers your and our rights and responsibilities concerning the electronic funds transfer ("EFT") services offered to you by Marine Federal Credit Union ("Credit Union"). In this Agreement, the words "you" and "yours" mean those who sign the application or account card as applicants, joint owners, or any authorized users. The words "we," "us," and "our" mean the Credit Union. The word "account" means any one or more savings and checking accounts you have with the Credit Union. The word "checking" refers to MarChek and/or ATM/Debit accounts. Electronic funds transfers are electronically initiated transfers of money from your account through the electronic funds transfer services described below. By signing an application or account card for EFT services, signing your Card, or using any service, each of you, jointly and severally, agree to the terms and conditions in this Agreement and any amendments for the EFT services offered.

1. EFT Services. If approved, you may conduct any one or more of the EFT services offered by
the Credit Union.

a. ATM Card. If approved, you may use your Card and PIN (Personal Identification Number) in automated teller machines of the Credit Union, AFFN, Interlink, PLUS, Exchange, STAR networks, and such other machines or facilities as the Credit Union may designate. At the present time, you may use your Card to:

  • Make deposits to your savings and checking accounts.
  • Withdraw funds from your savings and checking accounts.
  • Transfer funds from your savings and checking accounts.
  • Obtain balance information for your savings and checking accounts.
  • Access your Open End Line of Credit Account.
  • Make POS (Point-of-Sale) transactions with your Card and PIN (Personal Identification Number) to purchase goods or services at POS terminals that carry AFFN, Interlink, PLUS, Exchange, STAR network logo(s).

The following limitations on the frequency and amount of ATM transactions may apply:

  • There is no limit on the number of cash withdrawals you may make in any one day.
  • You may withdraw up to a maximum of $500 in any one day, if there are sufficient funds in your account.
  • There is no limit on the number of POS transactions you may make in any one day.
  • You may purchase up to a maximum of $1500 from POS terminals per day, if there are sufficient funds in your account.
  • For security purposes, there are other limits on the frequency and amount of transfers available at ATMs.
  • You may transfer up to the available balance in your accounts at the time of the transfer.
  • See Section 2 for transfer limitations that may apply to these transactions.

Because of the servicing schedule and processing time required in ATM operations, there may be a delay between the time a deposit (either cash or check) is made and when it will be available.

b. VISA® Chek/ATM Card. You may use your Card to purchase goods and services from participating merchants. However, you may not use your card to initiate any type of gambling transaction. If you wish to pay for goods or services over the Internet, you may be required to provide card number security information before you will be permitted to complete the transaction. You agree that you will not use your Card for any transaction that is illegal under applicable federal, state, or local law. Funds to cover your Card purchases will be deducted from your checking (or ATM/Debit) account. If the balance in your account is not sufficient to pay the transaction amount, the credit union will pay the amount and treat the transaction as a request to transfer funds from other deposit accounts, approved overdraft protection accounts or loan accounts that you have established with the Credit Union. If you initiate a transaction that overdraws your Account, you agree to make immediate payment of any overdrafts together with any service charges to the Credit Union. In the event of repeated overdrafts, the Credit Union may terminate all services under this Agreement. You may use your Card and PIN (Personal Identification Number) in automated teller machines of the Credit Union, AFFN, Interlink, PLUS, Exchange, STAR networks, and such other machines or facilities as the Credit Union may designate. At the present time, you may also use your Card to:

  • Make deposits to your savings and checking accounts.
  • Withdraw funds from your savings and checking accounts.
  • Transfer funds from your savings and checking accounts.
  • Obtain balance information for your savings and checking accounts.
  • Access your Open End Line of Credit Account.
  • Order goods or services by mail or telephone from places where VISA® is accepted.

The following limitations on the frequency and amount of VISA® Chek/ATM Card transactions may apply:

  • There is no limit on the number of VISA® Chek/ATM Card purchases you make per day.
  • Purchase amounts are limited to the amount in your account, up to a maximum of $3,000 per day.
  • There is no limit to the number of cash withdrawals you may make in any one day from an ATM machine.
  • You may withdraw up to a maximum of $500 in any one day from an ATM machine, if there are sufficient funds in your account.
  • There is no limit on the number of POS transactions you may make in any one day.
  • You may purchase up to a maximum of $1500 from POS terminals per day, if there are sufficient funds in your account.
  • For security purposes, there are other limits on the frequency and amount of transfers available at ATMs.
  • You may transfer up to the available balance in your accounts at the time of the transfer.
  • See Section 2 for transfer limitations that may apply to these transactions.

c. Touch Teller. If we approve Touch Teller for your accounts, you must choose a password (authorization code). You must use your password along with your account number, to access your accounts. At the present time you may use Touch Teller to:

  • Withdraw funds from your savings, checking and Home Equity Line of Credit (HELOC), Money Market, and Open End Line of Credit Accounts.
  • Transfer funds from your savings, checking and Home Equity Line of Credit (HELOC), Money Market, and Open End Line of Credit Accounts.
  • Obtain balance information for all accounts except Credit Cards.
  • Make loan payments from your savings, checking, and Money Market Accounts.
  • Access your Home Equity Line of Credit (HELOC) and Open End Line of Credit Account.
  • Determine if a particular item has cleared.
  • Verify the last date and amount of your payroll deposit.
  • Place a stop payment on checks.
  • Reorder ATM/Debit cards.
  • Place a block on an existing ATM/Debit card.

Your accounts can be accessed under Touch Teller via a touch tone telephone only. Touch Teller service will be available for your convenience twenty-four (24) hours per day. This service may be interrupted for a short time each day for data processing.

  • There is no limit to the number of inquiries, transfers, or withdrawal requests you may make in any one day
  • Maximum withdrawal/transfer amount limited to sufficient available funds in your accounts.
  • See Section 2 for transfer limitations that may apply to these transactions.

The Credit Union reserves the right to refuse any transaction which would draw upon insufficient funds, exceed a credit limit, lower an account below a required balance, or otherwise require us to increase our required reserve on the account. All checks are payable to you as a primary member and will be mailed to your address of record. The Credit Union may set other limits on the amount of any transaction, and you will be notified of those limits. The Credit Union may refuse to honor any transaction for which you do not have sufficient available verified funds. The service will discontinue if no transaction is entered after numerous unsuccessful attempts to enter a transaction, and there may be limits on the duration of each telephone call.

d. Preauthorized EFTs.

  • Direct Deposit. Upon instruction of (i) your employer or (ii) the Treasury Department or (iii) other financial institutions, the Credit Union will accept direct deposits of your paycheck or of federal recurring payments, such as Social Security, to any Marine Federal Credit Union account.
  • Preauthorized Debits. Upon instruction, we will pay certain recurring transactions from your savings, and checking account.
    • See Section 2 for transfer limitations that may apply to these transactions.
    • Stop Payment Rights. If you have arranged in advance to make regular electronic fund transfers out of your account(s) for money you owe others, you may stop payment of preauthorized transfers from your account. You must notify us orally or in writing at any time up to three (3) business days before the scheduled date of the transfer. We may require written confirmation of the stop payment order to be made within fourteen (14) days of any oral notification. If we do not receive the written confirmation, the oral stop payment order shall cease to be binding fourteen (14) days after it has been made.
    • Notice of Varying Amounts. If these regular payments may vary in amount, the person you are going to pay is required to tell you, ten (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 of Preauthorized Transfers. If you order us to stop payment of a preauthorized transfer three (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.

e. Electronic Check Conversion/Electronic Returned Check Fees. If you pay for purchases or bills with a check or share draft you may authorize your check or draft to be converted to an electronic fund transfer. You may also authorize merchants or other payees to electronically debit your account for returned check or draft fees. You are considered to have authorized these electronic funds transfers if you complete the transaction after being told (orally or by a notice posted or sent to you) that the transfer may be processed electronically or if you sign a written authorization.

f. MFCU@Home. If we approve MFCU@Home  for your accounts, you will choose a password. You must use your password along with your account number, to access your accounts. At the present time, you may use MFCU@Home to:

  • Transfer funds from your savings, checking and Home Equity Line of Credit (HELOC), Money Market, and Open End Line of Credit Accounts.
  • Obtain balance information for all accounts except Credit Cards.
  • Make transfers to outside financial institution accounts.
  • Make loan payments from your savings, checking, and Money Market Accounts.
  • Access your Home Equity Line of Credit (HELOC) and Open End Line of Credit Account.
  • Make bill payments to preauthorized creditors.

Your accounts can be accessed under MFCU@Home via a personal computer. MFCU@Home will be available for your convenience twenty-four (24) hours per day. This service may be interrupted for a short time each day for data processing. We reserve the right to refuse any transaction which would draw upon insufficient funds, exceed a credit limit, lower an account below a required balance, or otherwise require us to increase our required reserve on the account. We may set other limits on the amount of any transaction, and you will be notified of those limits. We may refuse to honor any transaction for which you do not have sufficient available verified funds. The service will discontinue if no transaction is entered after numerous unsuccessful attempts to enter a transaction, and there may be limits on the duration of each access.

  • There is no limit to the number of inquiries, transfers, or withdrawal requests you may make in any one day.
  • Maximum withdrawal/transfer amount limited to the sufficient available funds in your accounts.
  • See Section 2 for transfer limitations that may apply to these transactions.

g. Online Bill Payment and Presentment. We will process bill payment transfer requests only to those creditors the Credit Union has designated in the User Instructions, and such creditors as you authorize, and for whom the Credit Union has the proper vendor code number. We will not process any bill payment transfer if the required transaction information is incomplete.

  • There is no limit on the number of bill payments per day.
  • Maximum withdrawal/transfer amount limited to the sufficient available funds in your accounts.

We will withdraw the designated funds from your checking account for bill payment transfer by the designated cut-off time on the date you schedule for payment. We will process your bill payment transfer within a designated number of days before the date you are scheduled for payment. You must allow sufficient time for vendors to process your payment after they receive a transfer from us. Please leave as much time as though you were sending your payment by mail. We cannot guarantee the time that any payment will be credited to your account by the vendor.

2. Transfer Limitations. For all savings and Money Market accounts, no more than six (6) preauthorized, automatic, telephone, or Internet transfers and withdrawals may be made from each account to another account of yours or to a third party in any month, and no more than three (3) of these six (6) may be made by check, draft, or access card to a third party. If you exceed these limitations, your account may be subject to a fee and/or be closed.

3. Conditions Of EFT Services.

a. Ownership of Cards. Any Card or other device which we supply to you is our property and must be returned to us, or to any person whom we authorize to act as our agent, or to any person who is authorized to honor the Card, immediately according to instructions. The Card may be repossessed at any time at our sole discretion without demand or notice. You cannot transfer your Card or account to another person.

b. Honoring the Card. Neither we nor merchants authorized to honor the Card will be responsible for the failure or refusal to honor the Card or any other device we supply to you. If a merchant agrees to give you a refund or adjustment, you agree to accept a credit to your account in lieu of a cash refund.

c. Foreign Transactions. Purchases and cash withdrawals made in foreign currencies will be debited from your account in U.S. dollars. The exchange rate between the transaction currency and the billing currency used for processing international transactions is a rate selected by Visa from a range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate Visa itself receives or the government-mandated rate in effect for the applicable central processing date. The exchange rate used on the processing date may differ from the rate that would have been used on the purchase date or cardholder statement posting date.

A fee of 2% of the amount of the transaction, calculated in U.S. dollars, will be imposed on all foreign transactions, including purchases, cash withdrawals and credits to your account. A foreign transaction is any transaction that you complete or a merchant completes on your card outside of the U.S., Puerto Rico or the U.S. Virgin Islands.

d. Security of Access Code. You may use one or more access codes with your electronic funds transfers. The access codes issued to you are for your security purposes. Any codes issued to you are confidential and should not be disclosed to third parties or recorded on or with the Card. You are responsible for safekeeping your access codes. You agree not to disclose or otherwise make your access codes available to anyone not authorized to sign on your accounts. If you authorize anyone to use your access codes, that authority shall continue until you specifically revoke such authority by notifying the Credit Union. You understand that any joint owner with an access code may withdraw or transfer funds from any of your accounts. If you fail to maintain the security of these access codes and the Credit Union suffers a loss, we may terminate your EFT services immediately.

e. Joint Accounts. If any of your accounts accessed under this Agreement are joint accounts, all joint owners, including any authorized users, shall be bound by this Agreement and, alone and together, shall be responsible for all EFT transactions to or from any savings, checking, and loan accounts as provided in this Agreement. Each joint account owner, without the consent of any other account owner, may, and hereby is authorized by every other joint account owner to make any transaction permitted under this Agreement. Each joint account owner is authorized to act for the other account owners, and the Credit Union may accept orders and instructions regarding any EFT transaction on any account from any joint account owner.

4. Fees And Charges. There are certain fees and charges for electronic funds transfer services. For a current listing of all applicable fees, see our current Fee Schedule that was provided to you at the time you applied for or requested these electronic services. From time to time, the charges may change. We will notify you of any changes as required by applicable law. If you use an ATM not operated by us, you may be charged a fee by the ATM operator and by any national, regional, or local network used in processing the transaction (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer). The ATM surcharge will be debited from your account if you elect to complete the transaction or continue with the balance inquiry.

5. Member Liability. You are responsible for all EFT transactions you authorize. If you permit someone else to use an EFT service, your Card, or your access code, you are responsible for any transactions they authorize or conduct on any of your accounts.

Tell us AT ONCE if you believe your Card has been lost or stolen or if you believe someone has used your Card or access code or otherwise accessed your accounts without your authority. 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 a transaction was made with your Card or Card number without your permission, and was a VISA® transaction, you will have no liability for the transaction, unless you were grossly negligent in the handling of your account or card. For all other EFT transactions, including ATM transactions or if you were grossly negligent in the handling of your account or card, your liability for an unauthorized transaction is determined as follows.

If you tell us within two (2) business days, you can lose no more than $50 if someone used your Card without your permission. If you do NOT tell us within two (2) business days after you learn of the loss or theft of your Card, and we can prove we could have stopped someone from using your Card without your permission if you had told us, you could lose as much as $500.

Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within sixty (60) days after the statement was sent to you, you may not get back any money lost after the sixty (60) days if we can prove that we could have stopped someone from making the transfers if you had told us in time. If a good reason (such as a hospital stay) kept you from telling us, we will extend the time periods. If you believe your Card has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, contact us at:

ATTN: EFT Disputes
Marine Federal Credit Union
P.O. Box 1551
Jacksonville, NC 28541-1551
(800) 225-3967
(910) 577-7333

You should also call the number or write to the address listed above if you believe a transfer has been made using the information from your check without your permission.

6. Right To Receive Documentation.

a. Periodic Statements. Transfers and withdrawals made through any ATM or POS terminal, Debit Card transactions, audio response transactions, preauthorized EFTs, electronic/PC transactions, or bill payments you make will be recorded on your periodic statement. You will receive a statement monthly unless there is no transaction in a particular month. In any case, you will receive a statement at least quarterly.

b. Terminal Receipt. You will get a receipt at the time you make any transaction (except inquiries) involving your account using an ATM (if requested), POS terminal, or Debit Card transaction with a participating merchant.

c. Direct Deposit. If you have arranged to have direct deposit made to your account at least once every sixty (60) days from the same source and you do not receive a receipt (such as a pay stub), you can find out whether or not the deposit has been made by calling (910) 577-7333 or (800) 225-3967. This does not apply to transactions occurring outside the United States.

7. Account Information Disclosure. We will disclose information to third parties about your account or the transfers you make:

  • As necessary to complete transfers;
  • To verify the existence of sufficient funds to cover specific transactions upon the request of a third party, such as a credit bureau or merchant;
  • If your account is eligible for emergency cash and/or emergency card replacement services, and you request such services, you agree that we may provide personal information about you and your account that is necessary to provide you with the requested service(s);
  • To comply with government agency or court orders; or
  • If you give us your written permission.

8. Business Days. Our business days are Monday through Friday, excluding holidays.

9. Credit Union Liability For Failure To Make Transfers. 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 may be liable for your losses or damages. However, we will not be liable for direct or consequential damages in the following events:

  • If, through no fault of ours, there is not enough money in your accounts to complete the transaction, if any funds in your accounts necessary to complete the transaction are held as uncollected funds pursuant to our Funds Availability Policy, or if the transaction involves a loan request exceeding your credit limit.
  • If you used your Card or access code in an incorrect manner.
  • If the ATM where you are making the transfer does not have enough cash.
  • If the ATM was not working properly and you knew about the problem when you started the transaction.
  • If circumstances beyond our control (such as fire, flood, or power failure) prevent the transaction.
  • If the money in your account is subject to legal process or other claim.
  • If funds in your account are pledged as collateral or frozen because of a delinquent loan.
  • If the error was caused by a system of any participating ATM network.
  • If the electronic transfer is not completed as a result of your willful or negligent use of your Card, access code, or any EFT facility for making such transfers.
  • If the telephone or computer equipment you use to conduct audio response or electronic/PC transactions is not working properly and you know or should have known about the breakdown when you started the transaction.
  • If you have bill payment services, we can only confirm the amount, the participating merchant, and date of the bill payment transfer made by the Credit Union. For any other error or question you have involving the billing statement of the participating merchant, you must contact the merchant directly. We are not responsible for investigating such errors.
  • Any other exceptions as established by the Credit Union.

10. Notices. All notices from us will be effective when we have mailed them or sent them electronically to your last known address in the Credit Union's records. Notices from you will be effective when received by the Credit Union at the address specified in this Agreement. We reserve the right to  change the terms and conditions upon which this service is offered. We will mail notice to you at least twenty-one (21) days before the effective date of any change. Use of this service is subject to existing regulations governing the Credit Union account and any future changes to those regulations.

The following information is a list of safety precautions regarding the use of ATMs and Night Deposit Facilities:

  • Be aware of your surroundings, particularly at night.
  • Consider having someone accompany you when the ATM or night deposit facility is used after dark.
  • Close the entry door of any ATM facility equipped with a door.
  • If another person is uncomfortably close to you at the time of your transaction, ask the person to step back before you complete your transaction.
  • If it is after the regular hours of the financial institution and you are using an ATM, do not permit entrance to any person you do not know.
  • Refrain from displaying your cash at the ATM or night deposit facility. As soon as your transaction is completed, place your money in your purse or wallet. Count the cash later in the safety of your car or home.
  • If you notice anything suspicious at the ATM or night deposit facility, consider using another ATM or night deposit facility or coming back later. If you are in the middle of a transaction and you notice something suspicious, cancel the transaction, take your Card or deposit envelope, and leave.
  • If you are followed after making a transaction, go to the nearest public area where people are located.
  • Do not write your PIN or code on your ATM Card.
  • Report all crimes to law enforcement officials immediately. If emergency assistance is needed, call the police from the nearest available telephone.

11. Billing Errors. In case of errors or questions about electronic funds transfers from your savings and checking accounts, telephone us at the following number or send us a written notice to the following address as soon as you can. We must hear from you no later than sixty (60) days after we sent the FIRST statement on which the problem appears. Contact us at:

ATTN: Bookkeeping
Marine Federal Credit Union
P.O. Box 1551
Jacksonville, NC 28541-1551
(800) 225-3967
(910) 577-7333

  • Tell us your name and account number.
  • Describe the electronic transfer you are unsure about, and explain as clearly as you can why you believe the Credit Union has made an error or why you need more information.
  • Tell us the dollar amount of the suspected error.

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

We will tell you the results of our investigation within ten (10)* business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45)** days to investigate your complaint or question. If we decide to do this, we will credit your account within ten (10)* business days 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 ten (10) business days, we may not credit your account.

We will tell you the results within three (3) business days of 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.

* If you give notice of an error within thirty (30) days after you make the first deposit to your account, we will have twenty (20) business days instead of ten (10) business days.

** If you give notice of an error within thirty (30) days after you make the first deposit to your account, notice of an error involving a point of sale transaction, or notice of an error involving a transaction initiated outside the U.S. its possessions and territories, we will have ninety (90) days instead of forty-five (45) days to investigate.

NOTE: If the error you assert is an unauthorized VISA® transaction, other than a cash disbursement at an ATM, we will credit your account within five (5) business days unless we determine that the circumstances or your account history warrant a delay, in which case you will receive credit within ten (10) business days.

12. Termination Of EFT Services. You may terminate this Agreement or any EFT service under this Agreement at any time by notifying us in writing and stopping your use of your Card and any access code. You must return all Cards to the Credit Union. You also agree to notify any participating  merchants that authority to make bill payment transfers has been revoked. We may also terminate this Agreement at any time by notifying you orally or in writing. If we terminate this Agreement, we may notify any participating merchants making preauthorized debits or credits to any of your accounts that this Agreement has been terminated and that we will not accept any further preauthorized transaction instructions. We may also program our computer not to accept your Card or access code for any EFT service. Whether you or the Credit Union terminates this Agreement, the termination shall not affect your obligations under this Agreement for any EFTs made prior to termination.

13. Governing Law. This Agreement is governed by the Bylaws of the Credit Union, federal laws and regulations, the laws and regulations of the state of North Carolina and local clearinghouse rules, as amended from time to time. Any disputes regarding this Agreement shall be subject to the jurisdiction of the court of the county in which the Credit Union is located.

14. Enforcement. You are liable to us for any loss, cost or expenses we incur resulting from your failure to follow this Agreement. You authorize us to deduct any such loss, costs or expenses from any account owned by you without prior notice to you. If we bring a legal action to collect any amount due under or to enforce this Agreement, we shall be entitled, subject to applicable law, to payment of reasonable attorney's fees and costs, including fees on any appeal, bankruptcy proceedings, and any post-judgement collection actions.

Limitation of Liability

THE FOREGOING SHALL CONSTITUTE Marine FCU's ENTIRE LIABILITY AND YOUR EXCLUSIVE REMEDY. IN NO EVENT SHALL MARINE FCU BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES, INCLUDING LOST PROFITS (EVEN IF ADVISED OF THE POSSIBILITY THEREOF) ARISING IN ANY WAY OUT OF THE INSTALLATION, USE, OR MAINTENANCE OF THE EQUIPMENT, SOFTWARE, AND/OR THE ONLINE SERVICES.

Exclusions of Warranties

THE ONLINE SERVICES AND RELATED DOCUMENTATION ARE PROVIDED "AS IS" WITHOUT ANY WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANT ABILITY AND FITNESS FOR A PARTICULAR PURPOSE.



TIS DEPOSIT

Last Dividend Declaration Date: April 17,  2007
Effective Date: May 9, 2007

Truth-in-Savings Disclosure

The rates, fees and terms applicable to your account at the Credit Union are provided in this Truth-In-Savings Disclosure. The Credit Union may offer other rates for these accounts from time to time.

Type Dividends Balance Requirements Limitations
Dividend Rate/APY
Dividends Compounded
Minimum Opening Deposit
Minimum Balance to Earn the Stated APY
Balance Method
 
Primary Saving Share
.50% / .50%

.75% / .75%

1.50%/1.51%

Monthly $5
$5.00 - $499

$500 - $1,999

$2,000 and up

Average Daily Balance Account Transfer Limitations Apply
Christmas Club Account, ETC, Financial Counseling, Auto Insurance Savings Account
.50% / .50%


.75% / .75%


1.50%/1.51%

Monthly -
$5.00 - $499


$500 - $1,999


$2,000 and up


Average Daily Balance Account Transfer Limitations Apply
Deployment Club Share 5.00% / 5.12% Monthly - - Average Daily Balance Limitations Apply
Mar√Chek Account, ATM/Debit Account .50% / .50% Monthly - - Average Daily Balance -
Money Market Account
3.25% /3.30%


3.50% /3.56%


4.00% /4.07%

Monthly $2,500
$2,500-$9,999


$10,000-$24,999


$24,999 and up

Average Daily Balance Account Transfer Limitations Apply

Traditional IRA
Roth IRA
SEP IRA
CESA Share Account and Health Savings Account

2.00% / 2.02% Monthly $50 - Average Daily Balance Account Transfer Limitations Apply

APY = Annual Percentage Yield
All listed rate dividends credited monthly
All listed rate dividend periods are Monthly [Calendar].



Except as specifically described, the following disclosures apply to all of the accounts. All accounts described in this Truth-In-Savings Disclosure are share accounts.

1. Rate Information. The Annual Percentage Yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. For Share Savings, Christmas Club, ETC, Money Market, Mar Chek, ATM/Debit, Financial Counseling, Deployment Club, and Auto Insurance Savings accounts, the Dividend Rate and Annual Percentage Yield may change at any time as determined by the Credit Union's Board of Directors. For Traditional IRA Share, Roth IRA Share, SEP IRA Share, HSA and CESA Share accounts, the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union's Board of Directors. The Dividend Rates and Annual Percentage Yields are the rates and yields as of the last dividend declaration date, which is set forth in the Rate Schedule. The Money Market account is a Tiered Rate account. If your balance is $2,500 or greater, the Money Market Dividend Rate and Annual Percentage Yield will apply. If your balance falls below $2,500 on any day during the dividend period, the Mar Chek Dividend Rate and Annual Percentage Yield will apply.

2. Nature of Dividends. Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period.

3. Dividend Compounding and Crediting. The compounding and crediting frequency of dividends and dividend period applicable to each account are stated in the Rate Schedule. The Dividend Period is the period of time at the end of which an account earns dividend credit. The Dividend Period begins on the first calendar day of the period and ends on the last calendar day of the period.

4. Accrual of Dividends. For all accounts, dividends will begin to accrue on non-cash deposits (e.g. checks) on the business day you make the deposit to your account. If you close your account before accrued dividends are credited, you will not receive the accrued dividends.

5. Balance Information. To open any account you must deposit or already have on deposit at least the par value of one full share in a Share Savings account. The par value amount is stated in the Fee Schedule. Some accounts may have additional minimum opening deposit requirements. The minimum balance requirements applicable to each account are stated in the Rate Schedule. For Traditional IRA Share, Roth IRA Share, SEP IRA Share, HSA and CESA Share Accounts, the minimum deposit to open the account is $50. This full amount of the deposit may be provided up front, or provided through Direct Deposit of at least $10 per deposit until the $50 is reached. For Mar?Chek, there is no minimum deposit to open the account unless you select a service (i.e. check order) for which there is a cost or fee. If you select a service in which there is a cost or fee, the minimum deposit to open the account will equal the amount of that cost or fee. For Money Market accounts, there is a minimum Daily Balance required to earn the Annual Percentage Yield disclosed for the dividend period. If the minimum daily balance is not met each day of the dividend period, you will not earn the stated Annual Percentage Yield. For accounts using the Average Daily Balance method as stated on the Rate Schedule, dividends are calculated by applying a periodic rate to the Average Daily Balance in the account for the dividend period. The Average Daily Balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period. 

6. Account Limitations. For the Primary Savings, Money Market, Traditional IRA, Roth IRA, SEP IRA, CESA, HSA, and Auto Insurance Savings shares, no more than six (6) preauthorized, automatic, or telephone transfers may be made from each share to another account, share, or to a third party in any month, and no more than three (3) of these six (6) transfers may be made by check, draft, or debit card to a third party. If you exceed these limitations, your account may be subject to a fee or be closed. For Christmas Club shares, the entire balance will be paid to you by check or transferred to another account or share of yours on or after November 1st and the share will remain open. You may not make withdrawals from your Christmas Club share at any other time. If you wish to access the funds in your Christmas Club share you may close it. For an ETC share, the entire balance will be paid to you by check or transferred to another account or share of yours on or after the fifth day of the month that you selected and the share will remain open. You may not make withdrawals from your ETC share at any other time. If you wish to access the funds in your ETC share you may close it.  Money Market checks must be written for a minimum of $100 (only 3 checks per month may clear your account). For HSA shares you are limited to 3 checks per month clearing your account. Financial Counseling shares may have withdrawal and/or deposit limitations set forth by agreement with the Marine FCU Financial Counselor. For Mar Chek, and ATM/Debit  shares, no limitations apply. For Deployment Club shares, the entire balance will be paid to you by check or transferred to another account or share of yours on the expected date that you return from deployment and the share will be closed at that time. You must be a service person deploying to a country or countries outside the Continental United States. If you wish to access the funds in your Deployment Club share prior to your return date you may close it. 



Effective Date:  May 9, 2007

The rates, fees and terms applicable to your account at the Credit Union are provided in this Truth-In-Savings Disclosure. The Credit Union may offer other rates for these accounts from time to time.

Dividend Rate APY% Terms Min. Deposit Additional Deposits Withdrawals Renewable
Investment Share Certificate
  91  Day 3.90% 3.97% Fixed $500 Not Allowed Allowed
See Transaction Limitations section
Automatic
 6 Month 4.15% 4.23% $500
12 Month 4.65% 4.75% $1000
18 Month 4.65% 4.75% $1000
24 Month 4.65% 4.75% $1000
36 Month 4.90% 5.01% $1000
48 Month 4.90% 5.01% $1000
60 Month 4.90% 5.01% $1000
Traditional IRA, Roth IRA, SEP IRA, Health Savings Account, and CESA Share Certificate
12 Month 4.75% 4.85% Fixed $500 Not Allowed Allowed
See Transaction Limitations section
Automatic
24 Month 4.75% 4.85%
36 Month 5.00% 5.12%
48 Month 5.00% 5.12%
60 Month 5.00% 5.12%
Add-On Share Certificate Account
12 Month 4.40% 4.49% Fixed $50 Allowed - $10 minimum/deposit Allowed
See Transaction Limitations section
Automatic
Rainbow Add-On Share Certificate Account
91 Day 3.40% 3.45% Fixed $15 Allowed - $5 minimum/deposit Allowed
See Transaction Limitations section
Automatic*

APY = Annual Percentage Yield
Dividends Compounded Monthly
Dividends Credited Monthly
Dividend Period is Account's Term



Except as specifically described, the following disclosures apply to all of the accounts. All accounts described in this Truth-In-Savings Disclosure are share certificate accounts.

1. Rate Information. The Annual Percentage Yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. For all accounts, the Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the initial term of the account. For accounts subject to dividend compounding, the Annual Percentage Yield is based on an assumption that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings.

2. Dividend Period. For each account the dividend period is the account's term. The dividend period begins on the first day of the term and ends on the maturity date.

3. Dividend Compounding And Crediting. The compounding and crediting frequency of dividends are stated in the Rate Schedule.

4. Balance Information. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. To open any account you must deposit or already have on deposit at least the par value of one full share in a Share Savings account. The par value amount is stated in the Fee Schedule. Some accounts may have additional minimum opening deposit requirements. For all accounts, dividends are calculated by the Average Daily Balance method, which calculates dividends by applying a periodic rate to the Average Daily Balance in the account for the dividend period. The Average Daily Balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period.

5. Accrual Of Dividends. For all accounts, dividends will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account.

6. Transaction Limitations. For all accounts, after your account is opened you may make withdrawals subject to the early withdrawal penalties stated below. For all Share Certificates, additional deposits may be made without restriction at maturity and during the grace period.

7. Maturity. Your account will mature as stated on this Truth-in-Savings Disclosure or on your Account Receipt or Renewal Notice.

Early Withdrawal Penalty. We may impose a penalty if you withdraw from your account before the maturity date.

Amount Of Penalty. For Add-On Share Certificate and Rainbow Add-On Share Certificate accounts, the amount of early withdrawal penalty for your account is equal to 30 days dividend.

For Investment Share Certificate accounts, the amount of the early withdrawal penalty is based on the term of your account. The penalty schedule is as follows:

Terms of 1 year or less Terms of more than 1 year
Equal to 30 days dividends Equal to 90 days dividends

For Traditional IRA Share Certificate, Roth IRA Share Certificate and CESA Share Certificate Accounts, the early withdrawal penalty will equal all accrued dividends on the amount withdrawn. However, the penalty will never be less than 30 days' dividends nor greater than 180 days' dividends on the amount withdrawn.

How the Penalty Works. The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned on the account. It applies whether or not the dividends have been earned. In other words, if the account has not yet earned enough dividends or if the dividend has already been paid, the penalty will be deducted from the principal.

Exceptions to Early Withdrawal Penalties. At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances:

  1. When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction.

  2. Where the account is an Individual Retirement Arrangement (IRA) Account and any portion is paid within seven (7) days after the establishment.

Renewal Policy. The renewal policy for your accounts is stated in the Rate Schedule. All Share Certificate accounts have a grace period of seven (7) days after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty. Investment Share Certificate, Traditional IRA Share Certificate, Roth IRA Share Certificate, SEP IRA Share Certificate, CESA Share Certificate, HSA Share Certificate, and Add On Share Certificate accounts, will automatically renew for another term upon maturity.

*Rainbow Add-On Share Certificate accounts will automatically renew for another term upon maturity.

*We may deny renewal if the primary account owner will reach age 13 during the share certificate term. If the primary account owner reaches age 13 during the share certificate term and the certificate balance is less than $50.00, we will prevent renewal and transfer the balance into the Share Savings account at maturity. If the primary account owner reaches age 13 during the share certificate term, and the certificate balance is $50.00 or greater, it will be converted to an Add-On Share Certificate upon maturity.

Nontransferable/Nonnegotiable. Your account is nontransferable and nonnegotiable.

To obtain a copy of these disclosures, call 1.800.225.3967