Disclosures

MEMBERSHIP ACCOUNT & DISCLOSURE AGREEMENT

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REGULATION D

TRANSACTIONS ALLOWED ON NON-TRANSACTION ACCOUNTS

The Federal Reserve Board’s Regulation D defines the types and number of transactions that can be performed on non-transaction accounts. This includes all Share Accounts, which comprise of:

  1. Regular Savings Accounts
  2. Club Accounts

During any calendar month or statement cycle, you may not make more than six withdrawals or transfers from your Share and Club Accounts to another credit union account of yours or to a third party by means of a pre-authorized or automatic transfer or telephonic order or instruction. Up to six withdrawals and/or transfers per month from your Share and Club Accounts may be made by:

  1. Overdraft transfers (to cover checks written)
  2. Phone or fax requests – (excluding checks mailed directly to member)
  3. Motion HomeBanking (excluding checks mailed directly to member)
  4. ACH or EFT
  5. TellerPhone 24 (excluding checks mailed directly to member)
  6. Writing checks to a third party from Share and Club Accounts
  7. Performing a merchant transaction via your Motion Federal debit card (if applicable)
  8. Performing a merchant Point of Sale (POS) via your Motion Federal debit card (if applicable)

Not Reg. D – An unlimited number of withdrawals and transfers may be made by:

  1. An Automated Teller Machine (ATM)
  2. Any member performing the transaction In-person at the credit union or branch location
  3. A check being mailed to the member’s primary mailing address (i.e. check payable to the member)
  4. Mail or messenger requests (not faxes)
  5. The purpose of making loan payments (Back office Share to Loan transfers)
  6. Transfer from a direct deposit received in one and then disbursements occurs to a family member’s account (must take place as an automatic transfer within the same day of deposit)

FUNDS AVAILABILITY DISCLOSURE

(REGULATION CC)
Motion Federal Credit Union
360 N. Wood Ave.
Linden, NJ 07036

YOUR ABILITY TO WITHDRAW FUNDS
Our policy is to make funds from your cash and check deposits available to you immediately the day we receive your deposit. However, if you make a deposit after close of business day or on a day we are not open, we will consider that deposit was made on the next business day we are open. Electronic direct deposits will also be available on the day we receive the deposit. You can withdraw the funds in cash and we will use the funds to pay checks that you have written on the day of deposit. For determining the availability of your deposit, every day is a business day, except Saturdays, Sundays, and federal holidays.

LONGER DELAYS MAY APPLY
In some cases, we will not make all of the funds that you deposit by check available to you immediately. Depending on the type of check that you deposit, funds may not be available until the fifth business day after the day of your deposit. The first $200 of your deposits, however, will be available on the first business day.

If we are not going to make all of the funds from your deposit available immediately, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your deposit.
If you will need the funds from a deposit right away, you should ask us when the funds will be available.

In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:

  1. We believe a check you deposit will not be paid.
  2. You deposit checks totaling more than $5,000 on any one day.
  3. You redeposit a check that has been returned unpaid.
  4. You have overdrawn your account repeatedly in the last six months.
  5. There is an emergency, such as failure of computer or communications equipment.

We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the eleventh business day after the day of your deposit.

HOLDS ON OTHER FUNDS

If we cash a check for you that is drawn on another financial institution, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it. If we accept for deposit a check that is drawn on another financial institution, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in the disclosure for the type of check that you deposited.

SPECIAL RULES FOR NEW ACCOUNTS

If you are a new member, the following special rules will apply during the first 30 days your account is open.

Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,000 of a day’s total deposits of cashier’s, certified, teller’s, traveler’s and federal, state, and local government checks will be available immediately the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you. The excess over $5,000 will be available on the seventh business day after the day of your deposit. If your deposit of these checks (other than a U. S. Treasury check) is not made in person to one of our employees, the first $5,000 will not be available until the second business day after the day of your deposit.

Funds from all other check deposits will be available no later than the eleventh business day after the day of your deposit.

DEPOSITS AT AUTOMATED TELLER MACHINES

Funds from any deposits (cash or checks) made at automated teller machines (ATMs) we do not own or operate will not be available until the fifth (5th) business day after the date of your deposit. This rule does not apply at ATMs that we own or operate. All of the ATMs that we own or operate are identified as our machines


TRUTH-IN-SAVING DISCLOSURE

I. SHARE AND SHARE DRAFT ACCOUNTS

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 Savings, Share Draft, Savings IRA and Club accounts, the dividend rate and annual percentage yield may change monthly as determined by the Credit Union. The dividend rates and annual percentage yields are the rates and yields as of the last dividend declaration date that is set forth in the Rate Schedule.
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 the 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 earning accounts, dividends will begin to accrue on noncash 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 receive the accrued dividends.
5. Balance Information — To open any account, you must deposit or already have on deposit the minimum required share(s) in a Share account. Some accounts may have additional minimum opening deposit requirements. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. For Share Draft accounts, there is a minimum average daily balance required to earn the annual percentage yield disclosed for the dividend period. If the minimum average daily balance requirement is not met, you will not earn the annual percentage yield stated in the Rate Schedule. For Savings and Secondary Savings accounts, there is a minimum daily balance required to earn the annual percentage yield disclosed for the dividend period. If the minimum daily balance requirement is not met each day of the dividend period, you will not earn the stated annual percentage yield. For accounts using the daily balance method as stated in the Rate Schedule, dividends are calculated by applying a daily periodic rate to the principal in the account each day.
6. Account Limitations — For Savings, Secondary Savings, and Club accounts, you may make no more than six (6) transfers and withdrawals from your account to another account of yours or to a third party in any month by means of a preauthorized, automatic, or Internet transfer, by telephonic order or instruction, or by check, draft, debit card or similar order. If you exceed these limitations, your account may be subject to a fee or be closed. For Savings IRA and Share Draft no account limitations apply.
7. Fees for Overdrawing Accounts — Fees for overdrawing your account may be imposed on each check, draft, item, ATM transaction and one-time debit transaction (if member has consented to overdraft protection plan for ATM and one-time debit card transactions), preauthorized automatic debit, telephone initiated withdrawal or any other electronic withdrawal or transfer transaction that is drawn on an insufficient available account balance. The entire balance in your account may not be available for withdrawal, transfer or paying a check, draft or item. You may consult the Funds Availability Policy Disclosure for information regarding the availability of funds in your account. Fees for overdrawing your account may be imposed for each overdraft, regardless of whether we pay or return the draft, item or transaction. If we have approved an overdraft protection limit for your account, such fees may reduce your approved limit. Please refer to the Fee Schedule for current fee information. For ATM and one-time debit transactions, you must consent to the Credit Union’s overdraft protection plan in order for the transaction amount to be covered under the plan. Without your consent, the Credit Union may not authorize and pay an overdraft resulting from these types of transactions. Services and fees for overdrafts are shown in the document the Credit Union uses to capture the member’s opt-in choice for overdraft protection and the Schedule of Fees and Charges.
8. Membership — As a condition of membership, you must purchase and maintain the minimum required share(s) and pay a refundable membership fee as set forth below.

Par Value of One Share $5.00
Number of Shares Required 1
Membership Fee $5.00

SHARE AND SHARE DRAFT RATE SCHEDULES

Regular Share Secondary Share Minor Share
Dividend Rate/
Annual Percentage Yield (APY)
Variable Rate
determined by
Motion FCU
Variable Rate
determined by
Motion FCU
Variable Rate
determined by
Motion FCU
Dividends Compounded
Dividends Credited
Dividend Period
Monthly
Monthly
Monthly (Calendar)
Monthly
Monthly
Monthly (Calendar)
Monthly
Monthly
Monthly (Calendar)
Balance Requirements
Minimum Opening Balance
Minimum Balance to Avoid a Service Fee
Minimum Balance to Earn stated APY
Balance Method to Calculate Dividends

$5.00
$0.00
$50.00
Daily Balance

$5.00
$0.00
$50.00
Daily Balance

$5.00
$0.00
$50.00
Daily Balance
Account Limitations Account transfer
limitations apply
Account transfer
limitations apply
Account transfer
limitations apply
Holiday Club Vacation Club Share Draft
Dividend Rate/
Annual Percentage Yield (APY)
Variable Rate
determined by
Motion FCU
Variable Rate
determined by
Motion FCU
Variable Rate
determined by
Motion FCU
Dividends Compounded
Dividends Credited
Dividend Period
Monthly
Monthly
Monthly (Calendar)
Monthly
Monthly
Monthly (Calendar)
Monthly
Monthly
Monthly (Calendar)
Balance Requirements
Minimum Opening Balance
Minimum Balance to Avoid a Service Fee
Minimum Balance to Earn stated APY
Balance Method to Calculate Dividends

$5.00
$0.00
$50.00
Daily Balance

$5.00
$0.00
$50.00
Daily Balance

$5.00
$0.00
$50.00
Daily Balance
Account Limitations Account transfer
limitations apply
Account transfer
limitations apply

II. SHARE CERTIFICATE ACCOUNTS

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 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. At your option, you may choose to have dividends credited to your certificate account, paid to you by check or transferred to another account of yours. If you elect to have dividends paid to you by check or transferred to another account, compounding will not apply.
4. Balance Information — To open any account, you must deposit or already have on deposit the minimum required share(s) in a Savings account. Some accounts may have additional minimum opening deposit requirements. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. For all accounts, dividends are calculated by the daily balance method which applies a daily periodic rate to the principal in the account
each day.
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, your ability to make deposits to your account and any limitations on such transactions are stated in the Rate Schedule. After your account is opened, you may make withdrawals subject to the early withdrawal penalties stated below and your account will be closed. Partial withdrawals are not allowed.
7. Maturity — Your account will mature as stated on this Truth-in-Savings Disclosure or on your Account Receipt or Renewal Notice.
8. Early Withdrawal Penalty — We may impose a penalty if you withdraw funds from your account before the maturity date.
a. Amount of Penalty. For all accounts, the amount of the early withdrawal penalty is 90 days’ dividends.
b. 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 dividends have already been paid, the penalty will be deducted from the principal.
c. 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:
(i) When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction.
(ii) Where the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) days after the establishment of the account; or where the account is a Keogh Plan (Keogh), provided that the depositor forfeits an amount at least equal to the simple dividends earned in the amount withdrawn; or where the account is an IRA or Keogh and the owner attains age 59½ or becomes disabled.
9. Renewal Policy — The renewal policy for your accounts is stated in the Rate Schedule. For accounts that automatically renew for another term, you 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.
10. Nontransferable/Nonnegotiable — Your account is nontransferable and nonnegotiable.
11. Membership — As a condition of membership, you must purchase and maintain the minimum required share(s) and pay a refundable membership fee as set forth below.

Par Value of One Share $5.00
Number of Shares Required 1
Membership Fee $5.00

CERTIFICATE AND INDIVIDUAL RETIREMENT ACCOUNT RATE SCHEDULES

Certificate Traditional IRA
Certificate
Roth IRA
Certificate
Dividend Rate
Annual Percentage Yield (APY)
Fixed Rate
Set by
Motion FCU
Fixed Rate
Set by
Motion FCU
Fixed Rate
Set by
Motion FCU
Account Terms 3 Month
6 Month
12 Month
18 Month
24 Month
6 Month
12 Moth
18 Month
24 Month
6 Month
12 Moth
18 Month
24 Month
Minimum Opening Deposit
Dividends Compounded
Dividends Credited
Dividend Period
$500.00
Monthly
Monthly
Account’s Term
$500.00
Monthly
Monthly
Account’s Term
$500.00
Monthly
Monthly
Account’s Term
Additional Deposits Not Allowed Not Allowed Not Allowed
Withdrawals Allowed – Subject
to Transaction
Limitations Section
Allowed – Subject
to Transaction
Limitations Section
Allowed – Subject
to Transaction
Limitations Section
Renewable Automatic Automatic Automatic
Coverdell ESA
Educational Certificate
IRA Share
Certificate
Dividend Rate
Annual Percentage Yield (APY)
Fixed Rate
Set by
Motion FCU
Variable Rate
Set by
Motion FCU
Account Terms 6 Month
12 Moth
18 Month
24 Month
No Term
Minimum Opening Deposit
Dividends Compounded
Dividends Credited
Dividend Period
$500.00
Monthly
Monthly
Account’s Term
$0.00
Monthly
Monthly
Account’s Term
Additional Deposits Not Allowed Allowed
Withdrawals Allowed – Subject
to Transaction
Limitations Section
Allowed
Renewable Automatic Not Applicable

ELECTRONIC FUNDS TRANSFERS (EFTs)
AGREEMENT AND DISCLOSURE

This Electronic Fund Transfers Agreement and Disclosure is the contract which covers your and our rights and responsibilities concerning the electronic fund transfers (EFT) services offered to you by Motion Federal Credit Union (“Credit Union”). In this Agreement, the words “you”, “your” 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 (1) or more Share, Share Draft and/or other share accounts you have with the Credit Union. Electronic fund transfers are electronically initiated transfers of money from your account through the EFT 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 (1) or more of the EFT services offered by the Credit Union.
a. Visa DebitCard
If approved, 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 electronic gambling transactions through the Internet. 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 ac-count. For ATM and one-time debit transactions, you must consent to the Credit Union’s overdraft protection plan in order for the transaction amount to be covered under the plan. Without your consent, the Credit Union may not authorize and pay an overdraft resulting from these types of transaction. Services and fees for overdrafts are shown in the document the Credit Union uses to capture the member’s opt-in choice for overdraft protection and the Schedule of Fees and Charges. For other types of transactions, if the balance in your account is not sufficient to pay the transaction amount, the Credit Union may 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 personal identification number (PIN) in Automated Teller Machines (ATMs) of the Credit Union, PLUS, MAC, VISA and ACCEL/Exchange networks, and such other machines or facilities as the Credit Union may designate. At the current time, you may use your card to:

  1. Withdraw funds from your Share and Share Draft accounts.
  2. Transfer funds between your Share and Share draft accounts.
  3. Obtain balance information for your Share and Share draft accounts.
  4. Make point-of-sale (POS) transactions with your card and personal identification number (PIN) to purchase goods or services at merchants that accept Visa.
  5. Order goods or services by mail, Internet or telephone from places that accept Visa.
    The following limitations on the frequency and amount of Visa DebitCard transactions may apply:
  6. There is a transactional limit on the number of Visa DebitCard purchases you make per day.
  7. Purchase amounts are limited to the amount in your account.
  8. There is a transactional limit of 8 for the number of cash withdrawals you may make in any 24 hour period from an ATM machine.
  9. You may withdraw up to a maximum of $500 in any one 24 hour period from an ATM machine, if there are sufficient funds in your account.
  10. There is a transactional limit of 12 for the number of POS transactions you may make in any 24 hour period.
  11. You may purchase up to a maximum of $2,000 from POS terminals per 24 hour period, if there are sufficient funds in your account.
  12. For security purposes, there are other limits on the frequency and amount of transfers available at ATMs.
  13. You may transfer up to the available balance in your accounts at the time of the transfer.
  14. See Section 2 for transfer limitations that may apply to these transactions.

b. TellerPhone 24
If we approve TellerPhone 24 for your accounts, a separate personal identification number (PIN) will be assigned to you. You must use your personal identification number (PIN) along with your account number to access your accounts. At the present time, you may use TellerPhone 24 to:

  1. Withdraw funds from your Share and Share Draft.
  2. Transfer funds from your Share and Share Draft. Obtain balance information for your Share, Share Draft, Loan, and Club accounts.
  3. Determine if a particular item has cleared.
  4. Obtain tax information on amounts earned on Share and/or Share Draft accounts or interest paid on loan accounts.
  5. Verify the last date and amount of your payroll deposit.

Your accounts can be accessed under TellerPhone 24 via a touch-tone telephone only. TellerPhone 24 service will be available for your convenience 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 (1) day. 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.
c. Preauthorized EFTs

  1. Direct Deposit. Upon instruction of (i) your employer, (ii) the Treasury Department or (iii) other financial institutions, the Credit Union will accept direct deposits of your paycheck or federal recurring payments, such as Social Security, to your Share and/or Share Draft account.
  2. Preauthorized Debits. Upon instruction, we will pay certain recurring transactions from your Share and/or Share Draft account.
  3. See Section 2 for transfer limitations that may apply to these transactions.
  4. 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 on preauthorized transfers from your account. You must notify us in writing at any time up to three (3) business days before the scheduled date of the transfer.
  5. 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.

d. Electronic Check Conversion/Electronic Returned Check Fees
If you pay for purchases or bills with a check or 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 fees. You are considered to have authorized these electronic fund 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.
e. Motion Federal Credit Unions HomeBanking
If we approve HomeBanking for your accounts, a separate personal identification number (PIN) will be assigned to you. You must use your personal identification number (PIN) along with your account number to access your accounts. At the present time, you may use HomeBanking to:

  1. Withdraw funds from your Share and Share Draft accounts.
  2. Transfer funds from your Share and Share Draft accounts.
  3. Obtain balance information for your Share, Share Draft, Loan, Club, and Certificate accounts.
  4. Make loan payments from your Share and Share Draft accounts.
  5. Determine if a particular item has cleared. Obtain tax information on amounts earned on Share and/or Share Draft accounts or interest paid on loan accounts. Verify the last date and amount of your payroll deposit.

Your accounts can be accessed under HomeBanking via personal computer. HomeBanking will be available for your convenience 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. All checks are payable to you as a primary member and will be mailed to your address of record. 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.

  1. There is no limit to the number of inquiries, transfers, or withdrawal requests you may make in any one (1) day.
  2. See Section 2 for transfer limitations that may apply to these transactions.

f. Bill Pay
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 trans-action information is incomplete. We will withdraw the designated funds from your Share and/or Share Draft account for bill payment transfer by the designated cutoff 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.

  1. There is no limit on the number of bill payments per day.

2. TRANSFER LIMITATIONS
For all Share and Club 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 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
Visa 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, in each instance plus an additional 1 percent. 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.
Visa Purchases and cash withdrawals made in foreign currencies will be debited from your account in U.S. dollars. The exchange rate used to convert foreign currency transactions to U.S. dollars is either a government-mandated exchange rate or a wholesale exchange rate and is selected by Visa. The rate Visa uses for a particular transaction is the rate Visa selects for the applicable currency on the day the transaction is processed. This rate may differ from the rate applicable on the date the transaction occurred or was posted to your account. A fee of up to 1 percent will be charged on all transactions completed outside of the United States, where the cardholder’s country code differs from the merchant’s country code. A fee of up to 1 percent will be charged on all trans-actions completed in a foreign currency. All fees are calculated based on the transaction amount after it is converted to U.S. dollars. These fees are charged except where excluded.

All foreign (non-United States) transactions are Blocked unless adequate notification is given to Motion Federal Credit Union. Motion Federal Credit Union reserves the right to honor the request.

d. Security of Access Code
You may use one (1) or more access codes with your electronic fund 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 you authorize to use an access code may with-draw 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 Share and/or Share Draft or loan accounts as provided in this Agreement. Each joint account owner, without the consent of any other account owner, may, and is hereby authorized by every other joint account owner, make any transaction permitted under this Agreement. Each joint account owner is author-ized 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.
f. Access to EFT Services
In cases of emergency, to protect you and the credit union from fraud, we may limit access without prior notice.

4. FEES AND CHARGES
There are certain fees and charges for EFT services. For a current listing of all applicable fees, see our current Schedule of Fees and Charges that was provided to you at the time you applied for or requested these electronic services. From time to time, the charges may be changed. 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 funds 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, if you believe someone has used your card or access code or otherwise accessed your accounts without your authority, or if you believe that an electronic fund transfer has been made without your permission using information from your check. 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 either a Visa or Interlink 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 including those made by card, code or other means, TELL US AT ONCE. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money lost after the 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, call:

908.862.6966
or write to: Motion Federal Credit Union
360 N. Wood Ave
Linden, NJ 07036
Fax: 908.523.6119

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, online/PC transactions or bill payments you make will be recorded on your periodic statement. You will receive a statement monthly for all Share Draft Accounts. Share only accounts are sent Quarterly.
b. Terminal Receipt
You can get a receipt at the time you make any transaction (except inquiries) involving your account using an ATM and/or (POS) terminal.

7. ACCOUNT INFORMATION DISCLOSURE
We will disclose information to third parties about your account or the transfers you make:

  1. As necessary to complete transfers
  2. 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;
  3. 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)
  4. To comply with government agency or court orders;
  5. 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:

  1. 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 Disclosure, or if the transaction involves a loan request exceeding your credit limit.
  2. If you used your card or access code in an incorrect manner.
  3. If the ATM where you are making the transfer does not have enough cash.
  4. If the ATM was not working properly and you knew about the problem when you started the transaction.
  5. If circumstances beyond our control (such as fire, flood, or power failure) prevent the transaction.
  6. If the money in your account is subject to legal process or other claim.
  7. If funds in your account are pledged as collateral or frozen because of a delinquent loan.
  8. If the error was caused by a system of any participating ATM network.
  9. 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.
  10. If the telephone or computer equipment you use to conduct audio response or online/PC transactions is not working properly and you know or should have known about the breakdown when you started the transaction.
  11. 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 con-tact 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 delivered them 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 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:

  1. Be aware of your surroundings, particularly at night.
  2. Consider having someone accompany you when the ATM or night deposit facility is used after dark.
  3. Close the entry door of any ATM facility equipped with a door.
  4. 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.
  5. 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.
  6. 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.
  7. 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.
  8. If you are followed after making a transaction, go to the nearest public area where people are located.
  9. Do not write your personal identification number (PIN) or access code on your ATM card.
  10. Report all crimes to law enforcement officials immediately. If emergency assistance is needed, call the police from the nearest available public telephone.

11. BILLING ERRORS
In case of errors or questions about electronic fund transfers from your Share and/or Share Draft accounts or if you need more information about a transfer on the statement or receipt, 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 60 days after we sent the first statement on which the problem appears. Call us at: 908.862.6966
or write to:

Motion Federal Credit Union
360 N. Wood Ave
Linden, NJ 07036
Fax: 908.523.6119

  1. Tell us your name and account number.
  2. 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.
  3. 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 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 30 days after you make the first deposit to your account, we will have 20 business days instead of ten (10) business days to investigate the error.
If you give notice of an error within 30 days after you make the first deposit to your account, notice of an error involving a POS transaction, or notice of an error involving a transaction initiated outside the U.S., its possessions and territories, we will have 90 days instead of 45 days to investigate the error.

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 electronic transactions 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 New Jersey, 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 losses, costs or expenses we incur resulting from your failure to follow this Agreement. You authorize us to deduct any such losses, costs or expenses from your account 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 judgment collection actions.