Cardholder Agreement and Electronic Funds Transfer Disclosure Statement

1. This agreement, and Summit Federal Credit Union's (SFCU) current Electronic Funds Transfer Disclosure Statement explain and control the use of the VISA Check Card and Automated Transaction Machines (ATM's) which are issued for the purpose of accessing those accounts and services of SFCU pre-selected by the Cardholder. Each joint owner of the selected accounts for whom a Card is requested will be considered a Cardholder under this Agreement. The term Cardholder also includes any person whose name is embossed on a Card and any person who signs the back of a Card. The Cardholder and all persons who use a Card agree to be bound by this Agreement and the current Electronic Funds Transfer Disclosure Statement.

2. The terms of all other Agreements which the Cardholder has with SFCU for the selected accounts and services, including SFCU Savings Accounts, Checking Accounts and related disclosures, shall also apply to all transactions related to a particular account or service accomplished through the use of an ATM.

3. Any transfers of funds accomplished through the use of an ATM, to or from a selected account, will be credited conditionally and subject to verification as to the availability of funds. No deposit or payment of funds shall be considered final until SFCU has verified and processed the transaction.

4. Upon receipt of each Card and special personal identification usage number ("PIN number"), a Cardholder must sign his or her name on the signature panel of such Card. A Cardholder is responsible for the proper control and use of a Card and PIN number. A Cardholder is also responsible for the use of a Card and PIN number by any person who is given or allowed to possess and retain a Card and PIN number by Cardholder. SFCU must be notified immediately if the Cardholder believes a Card to be lost or stolen or if a transfer of funds is made without permission. For protection, the Cardholder should guard the secrecy of the PIN number and not write it on the Card or keep it any place where it may be found with the Card.

5. Each Cardholder agrees to be bound by this agreement and shall be liable to SFCU for all transactions accomplished through the use of the VISA Check Card or PIN number and for all amounts owing as a result of this Agreement. Cardholders shall also be liable for unauthorized use to the extent allowed by applicable federal and state law. Liability shall include reasonable expenses (including attorney's fees) as allowed by applicable law and as required to collect amounts owing SFCU under this Agreement.

6. SFCU shall not be liable for failure to make any electronic fund transfer to the extent provided in the current Electronic Funds Transfer Disclosure Statement. SFCU shall also not be liable for (i) the refusal of an ATM to accept or honor a Card or PIN number, (ii) mechanical failure, (iii) defective Cards or PIN number, (iv) improper input of Cards or PIN numbers, (v) improper use of an ATM, (vi) SFCU verification of transactions and processing delays, and (vii) any other failure to complete a transaction except where such failure results in a billing error under applicable federal or state law. SFCU also reserves the right without liability to stop an ATM operation at any time for any reason and to refuse any Cardholder or other person the use of a VISA Check Card and PIN number for failure to use and maintain these items and related accounts and services in a manner satisfactory to SFCU.

7. Cardholders agree that SFCU's records shall be deemed conclusive and correct and that a copy, microfilm or microfiche of any document or record will have the same validity as the original and may be used to prove that a transaction has or has not taken place and to prove the details of the transaction.

8. Each Card remains the property of SFCU and its privileges may be terminated at any time for any reason. Cards must be immediately surrendered upon demand by SFCU or its agents. Upon demand for surrender, no further use of a Card will be made or allowed and this Agreement shall be considered terminated. A Cardholder may also terminate this agreement at any time by surrendering all Cards to SFCU which were issued to access the same selected accounts or services. Continued use of accounts and services accessed through use of a surrendered Card will be controlled by the applicable account or service Agreement. Each Cardholder shall be jointly and severally liable for all amounts and charges owing SFCU which remain outstanding upon termination of this Agreement.

9. SFCU reserves the right to amend this Agreement at any time. Amendments will be effective when mailed to the last known address of the Cardholder as shown in the records of SFCU unless applicable federal or Ohio law requires additional notice. Notice to one Cardholder shall be effective notice to all joint Cardholders.

10. SFCU reserves the right to disclose information to third parties about any transaction made or any account or service accessed under this Agreement:

a. When it is necessary to complete a transaction;
b. In order to verify the existence or condition of an account or service, such as a credit bureau or merchant;
c. In order to comply with government agency or court orders;
d. Upon written permission; or
e. In order to protect or enforce SFCU's rights.

11. This Agreement is governed by Ohio law except where preempted by federal law. If any terms in this agreement cannot be legally enforced they will be considered changed to the extent necessary to comply with applicable law.

Electronic Funds Transfer Disclosure Statement
1. MEMBER'S LIABILITY FOR UNAUTHORIZED TRANSFER AND DISCLOSURE OF TERMS AND CONDITIONS ADVISABILITY OF PROMPT REPORTING.

(a) Liability Disclosure. Tell us AT ONCE if you believe your plastic card or Personal Identification Number (PIN) has been lost or stolen. Telephoning is the best way of keeping your possible losses down. Your liability for an unauthorized electronic fund transfer or a series of related unauthorized transfers shall be determined as follows:

  (1) Timely notice given. If you notify us within two business days after learning of the loss or theft of your card or PIN number, your liability shall not exceed the lesser of $50 or the amount of unauthorized transfers that occur before notice is given to us.
  (2) Timely notice not given. If you fail to notify us within two business days after learning of the loss or theft your liability shall not exceed the lesser of $500 or the sum of:
(i) $50 or the amount of unauthorized transfers that occur within the two business days, whichever is less; and
(ii) The amount of unauthorized transfers that occur after the close of two business days and before notice is given to us provided we establish that these transfers would not have occurred had you notified us within that two-day period.
(3) Periodic statement; timely notice not given. You must report an unauthorized electronic fund transfer that appears on your periodic statement within 60 days of our sending you the statement to avoid liability for subsequent transfers. If you fail to do so, your liability shall not exceed the amount of the unauthorized transfers that occur after the close of the 60 days and before notice to us, and that we establish would not have occurred had you notified us within the 60-day period. When an access device is involved in the unauthorized transfer, you may be liable for other amounts set forth in paragraphs (a) (1) or (a) (2) of this section, as applicable. You may also be liable for the amounts detailed above in this paragraph as (1) and (2).
If a good reason (such as a long trip or a hospital stay) kept you from telling us, we may extend the time periods.

2. TELEPHONE NUMBER AND ADDRESS TO BE NOTIFIED IN EVENT OF UNAUTHORIZED TRANSFERS.
(a) Address and telephone number. If you believe your plastic card and/or PIN has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, contact us at the phone number or address on this agreement.

3. WHAT CONSTITUTES A BUSINESS DAY OF SUMMIT FEDERAL CREDIT UNION.
(a) Business Day Disclosure. A business day is a day on which our offices are open to the membership for carrying on substantially all business functions. Our business days are Monday through Friday. Holidays are not included.

4. TYPES OF AVAILABLE TRANSACTIONS AND LIMITS ON TRANSACTIONS.

(a) Account Access at terminals. Depending upon which accounts you have requested be accessed through EFT services, you may use your plastic card/PIN to:

(1) Withdraw cash from your savings or checking account.
(2) Make deposits (in Ohio only) to your savings or checking account.
(3) Transfer money from your savings account to your checking account.
(4) Transfer money from your checking account to your savings account.
(5) Inquire as to the balance on your savings or checking accounts.

(b) Account Access for Purchases. Use your Check Card for purchases which will access only your checking account by:

(1) Paying for purchases from any merchants who accept VISA cards (use it as a credit card).
(2) Pay for purchases at merchants that have electronic payment processing terminals displaying the VISA® PLUS, or Pulse logo (POS).

Some of these services may not be available at all terminals nor at all times.

(c) Limitations on Frequency and Amounts.

(1) You may purchase up to $1,000.00 worth of goods and services per business day, exclusive of ATM withdrawals, using your Visa Check Card, provided that there are sufficient available funds in your primary checking account. If you wish to make purchases that exceed the daily limit and you have sufficient funds available, you must write a check or make a cash withdrawal to cover such purchases.
(2) You may withdraw up to $300.00 from an ATM terminal each day provided sufficient available balances exist in your account.
(3) The maximum cash deposit to an ATM machine is $9,999.99.
(4) Funds from any deposits (cash or checks) made at automated teller machines (ATM's) we do not own or operate will not be available until the fifth business day after the day of your deposit. This rule does not apply at ATM's that we own or operate.
(5) You may purchase goods and services through POS up to your available balance, not to exceed $1,000.00 daily including purchases using your Card as a credit card.

(d) Limitations on inquiries.

(1) Balances will not be updated within the ATM system as transactions are completed, but will be updated on a daily basis. You are responsible for maintaining accurate records. The balance reflected is not on-line real-time.

(e) Automated Clearing House Transactions. By prior written agreement with a third party, you may authorize access to your checking or savings accounts by account number through an Automated Clearing House and permit such other party to:

(1) Withdraw funds from your checking or savings account.
(2) Transfer funds into your checking or savings account.

5. DISCLOSURE OF CHARGES
(a) There are no charges for any pre-authorized electronic withdrawals from or deposits to your accounts.

(b) The first thirty (30) transactions each month at Summit Federals' proprietary ATM are free. The thirty first (31st) and each subsequent transaction will be at a cost of $.60.

(c) Each transaction at an ATM will be at a cost of $.60 per transaction.

(d) There will be no charge for transactions when the Card is used as a VISA® for purchases or at a POS terminal.

(e) The charge for overdraft protection from savings is $1.00 per day, on days when a transfer is necessary to cover withdrawals or purchases made from your checking account.

(f) If you don't have sufficient funds to cover any type of withdrawal from your account(s) and we must therefore return it to the sender, your account will be assessed a $20.00 NSF fee.

(g) To replace a lost or damaged card there will be a fee of $6.00.
(Fees are subject to change at any time without notice.)

Additional Terms and Conditions
Your Visa Check Card is NOT a Visa Credit Card, and this agreement does not replace or affect any Visa Account Agreement that you may have with us or any other financial institution.

You may not stop payment on Visa Check Card transactions. For this reason, you should inquire about a merchant's return or refund policy before entering into a debit card transaction. Merchandise purchased using your Visa Check Card that is subsequently returned will be reflected as a credit on your checking account statement. Refer to section titled "IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS" for information on error resolution.

Each time you use your Visa Check Card to conduct a debit card transaction, we will have the right to place a hold on a corresponding amount of funds in your primary checking account until that transaction is posted against your account. You agree not to withdraw or write checks against funds that are needed to pay debit card transactions that have not yet posted against your account (such as by writing checks or obtaining ATM withdrawals). You agree not to request debit card transactions that will exceed the $1,000.00 daily limit or create an overdraft in your primary checking account. However, in the event that an overdraft does occur, you agree to immediately pay any overdraft plus associated NSF charges. You will be liable even if we authorize a debit card transaction at a time when you did not have sufficient available funds in your primary checking account to cover the transaction.

We reserve the right to return any Visa Check Card transaction that does not contain an authorization code. You agree that we will not be liable for any damages resulting from a failure or refusal for any reason to authorize a debit card transaction that you have attempted. You further agree that we will not be responsible or liable for a participating merchant's refusal to accept your Visa Check Card.

6. ACCOUNT INFORMATION TO THIRD PARTIES.
(a) Account information disclosure. We will disclose information to third parties about your account or the transfers you make:

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

7. RIGHT TO RECEIVE DOCUMENTATION OF TRANSFERS.
(a) Transfers at terminals. You can get a receipt at the time you make any transfer to or from your account using one of our ATM's.

(b) Purchases. You can get a receipt at the time you make any purchase from the clerk handling the transaction.

(c) Pre-authorized credits. If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call us at :
(330) 376-3626
to find out whether or not the deposit has been made.

(d) Periodic statements. You will get a monthly account statement.

8. RIGHT TO STOP PAYMENT OF PRE-AUTHORIZED TRANSFERS, PROCEDURE FOR DOING SO, RIGHT TO RECEIVE NOTICE OF VARYING AMOUNTS, AND FINANCIAL INSTITUTION'S LIABILITY FOR FAILURE TO STOP PAYMENT.
(a) Right to stop payment and procedure for doing so. If you have told us in advance to make regular pre-authorized payments out of your account, you can stop any of these payments.

Here's how:

Call us at: (330) 376-3626

Or write: Summit Federal Credit Union, P. O. Box 1460, Akron, OH 44309-1460

in time for us to receive your request three business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call. (We will charge you our normal account stop payment charge for each stop payment order you give.)

(b) Notice of varying amounts. If these regular payments may vary in amount, the person you are going to pay will tell you, 10 days before each payment, when it will be made and how much it will be. (You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.)

(c) Liability for failure to stop payment of pre-authorized transfer. If you order us to stop one of these payments three business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

9. FINANCIAL INSTITUTION'S LIABILITY FOR FAILURE TO MAKE TRANSFERS.
(a) 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 will be liable for your losses or damages. However, there are some exceptions. We will not be liable for instance:

- If, through no fault of ours, you do not have enough money in your account to make the transfer.
- If the transfer would go over the credit limit on your overdraft line.
- If the automated teller machine where you are making the transfer does not have enough cash.
- If the terminal was not working properly and you knew about the breakdown when you started the transfer.
- If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.

There may be other exceptions stated in our specific deposit account or electronic transfer services agreements with you.

ELECTRONIC FUNDS TRANSFER ERROR RESOLUTION DISCLOSURE STATEMENT

IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS

Telephone us at: (330) 376-3626

OR

Write us at: SUMMIT FEDERAL CREDIT UNION, P. O. BOX 1460, AKRON, OH 44309-1460

as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we send the FIRST statement on which the problem or error appeared.

(1) Tell us your name and account number (if any).
(2) 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.
(3) Tell us the dollar amount of the suspected error.
(4) Tell us the date, time, and location of the suspected error.

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

We will tell you the results of our investigation within 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 45 days to investigate your complaint or question. If we decide to do this, we will re-credit your account within 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 10 business days, we may not re-credit your account.

If we decide that there was no error, we will send you a written explanation within 3 business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation.