Geddes Federal Savings and Loan Association

ONLINE BANKING AGREEMENT AND DISCLOSURE

Updated August 2016

This Online Banking Agreement and Disclosure ("Agreement") describes your rights and obligations as a user of the Online Banking service or the Bill Payment service ("Services"). It also describes the rights and obligations of Geddes Federal Savings and Loan Association ("Association"). Please read this Agreement carefully. By requesting and using one of these Services, you agree to comply with the terms and conditions of this Agreement.

I. Definitions

The following definitions apply in this Agreement:

1. "Authorized Representative" refers to a person with authority (with respect to the account);

2. "Bill Payment" is the online service that enables the scheduling of bill payments using a personal computer; Internet enable device;

3. "ISP" refers to your Internet Service Provider;

4. "Online Banking" is the internet-based service providing access to your bank account(s);

5. "Online Account" means the bank account from which you will be conducting transactions using a Service;

6. "Password" is the customer-generated code selected by you for use during the initial sign-on, or the codes you select after the initial sign-on, that establishes your connection to the Service;

7. "PC" means your personal computer which enables you, with the Internet browser and ISP, to access your Online Account;

8. "Services" refers to the many additional services that are offered through online banking; this includes but is not limited to Bill Pay.

9. "Time of day" references are to Eastern Standard Time;

10. "User Name" is the customer-generated identification code assigned to you for your connection to the Service;

11. "We", "us", or "Association" refer to Geddes Federal Savings and Loan Association which offers the Services and which holds the accounts accessed by the Services; and

12. "You" or "your" refers to the owner of the account or the authorized signer.

13. Business Day: Monday thru Friday excluding holidays recognized by the federal government

14. Business Hours: Monday-Thursday 9-5; Friday 9-6

II. Access to Services

The Association will provide instructions on how to use the Online Banking and Bill payment Services. You will gain access to your Online Accounts through the use of your Internet-enabled device, your ISP, your Password and your User ID. You may access your Online Accounts 24 hours a day, seven (7) days a week. However, availability of the Services may be suspended for brief periods of time for purposes of maintenance, updating and revising the software.

For purposes of bill pay transactions, the Association's business days are [Monday through Friday], excluding holidays and weekends. All Online Banking transaction requests received after 10:30 p.m. on business days and all transactions which are requested on Saturdays, Sundays, or holidays on which the Association chooses to remain closed, will be processed on the Association's next business day. The Association's business day begins at 9:00 a.m.

III. Banking Transactions with Online Banking

A. Account Access. You may view all your accounts online including Checking, Statement Savings, Passbook Savings, Premier Money Market Deposit, Passbook Money Market Deposit, Certificates of Deposit and Loan(s).

B. Transfer of Funds. In addition to viewing account information, you may use Online Banking to transfer funds. You may make one-time transfers between your Checking account(s), Statement Savings account(s), Premier Money Market Deposit account(s) and to make a one-time loan payment from your Geddes Federal Account. Statement Savings and Premier Money Market account transfers are subject to transaction limitations set forth in the Truth and Savings Disclosure.

C. Additional Services. New services may be introduced for Online Banking from time to time. The Association will notify you of the existence of these new services. By using these services when they become available, you agree to be bound by the rules set forth concerning these services.

IV. Schedule of Fees

The Association offers the benefits and convenience of Online Banking and Bill Pay Service to you free of charge. However, additional Bill Pay fees may apply.

Geddes Federal Savings and Loan Association reserves the right to begin charging for Online Banking and standard Bill Payment Services at any time. You will receive at least 30 days notification of a new or increased fee to our fee schedule.

V. Statements

You will continue to receive your regular account statement monthly.

VI. Use of Your Security Password

You are responsible and liable for keeping your Password and Online Account information confidential. To help you protect yourself against possible fraud, the following guidelines should be considered:

If you believe your password may have been lost or stolen, or if you suspect any fraudulent activity on your account, call the Association immediately at 315-468-6281 during business hours. Telephoning the Association is the best way of minimizing your losses and liability.

If you believe your Password has been lost or stolen, please use the Password change feature within the Online Banking section of the Web site to change your Password.

If after business hours, you may use the "Password Change" feature within Online Banking to create a new password.

VII. Electronic Mail (E-mail)

If you send the Association an e-mail message, the Association will be deemed to have received it on the following business day. You should not rely on e-mail if you need to report an unauthorized transaction from one of your accounts or if you need to stop a payment that is scheduled to occur.

VIII. Bill Payment Services

  1. Description of Service. The Bill Payment Service permits you to use your Internet-enabled device to direct payments from your designated Online Bill Payment Account(s) to third parties you wish to pay. Your Bill Payment Account(s) must be a Checking Account(s). Through the Bill Payment Service, you can pay bills from your Bill Payment Account to businesses or individuals.

    All payments you make will be deducted from the checking account that you designate as your funding account for each payee. Any payments you wish to make through this service must be payable in U.S. dollars to a payee located in the United States. International payments are not allowed under any circumstances. In addition, the following payments are discouraged, but may be scheduled at your own risk.

    • Tax payments to the Internal Revenue Service or any State or other government agency
    • Court Ordered payments, such as alimony or child support
    • Payments to insurance companies

    Geddes Federal Savings and Loan Association will not be liable if we do make a prohibited or discouraged payment and there is an error with the payment. Errors include but are not limited to, the payment does not reach the payee, the payment is returned by the payee, and the payment is not credited correctly by the payee.

  2. Scheduling Payments. Funds must be available in your bill payment account on the scheduled payment date. If the date you schedule a payment to be initiated falls on a non-business day (Saturday, Sunday, or holiday), funds must be available in your bill payment account the following business day (e.g. Monday). Funds will be debited from your funding account within two (2) days of the payment's send on date. Please make sure you have the appropriate funds available in your account. An NSF will result in your bill pay account being blocked and all future scheduled payments during the blocked time will be canceled. The Bill Payment Service will make the payment either by transferring funds electronically to the payee or by mailing the payee a check.
  3. You may choose to schedule payments to recur in the same amount at regular weekly, monthly, or semi-monthly intervals.

    For all subsequent payments, you agree to allow at least five (5) to eight (8) business days between the date you schedule a payment to be initiated and the payment due date (that is, the due date shown on your invoice or provided in your agreement with the payee, not taking into account any applicable grace period). If the payment is an Automatic Clearing House (ACH) electronic payment, it will take up to five (5) business days to reach the payee. However, if the company or person that you are paying cannot accept an electronic payment, the bill payment service will send a check that may take up to eight (8) business days. If you do not follow these time frames, you will be fully responsible for all late fees, finance charges or other actions taken by the payee. If you schedule your payment and follow all instructions provided, but the payment is not received by the payee in a timely manner, the Association will work with the payee on your behalf to reverse any late fees or charges.

  4. No Duty to Monitor Payments. The Association is only responsible for exercising ordinary care in processing and sending payments upon your authorization in accordance with this Agreement. The Association will not be liable in any way for damages you incur for any of the following reasons:

    • Insufficient funds in your Bill Payment Account to make the payment on the processing date;

    • Delays in mail delivery;

    • Changes to the payee's address or account number unless we've been advised of the change in advance

    • The failure of any payee to correctly account for or credit the payment in a timely manner, or

    • Any other circumstances beyond the control of the Association.

    If the session during which you schedule a payment or transfer is during business hours, the Association will be considered to have received it on that day. Otherwise, it will be considered received on the following business day. For all entries made using the Services, the time recorded by the Online Banking Service will be considered the official time of the transaction.

    If your Bill Payment Account does not have sufficient funds to make a payment as of the date the payment is debited to your account, the Bill Payment Service will automatically block future Bill Payment Service until the account has sufficient funds to make the payment. The Association shall have no obligation or liability if it does not complete a payment because there are insufficient funds in your account to process a payment. In all cases, you are responsible for either contacting the Customer Service at 1-315-468-6281 to either make alternate arrangements for the payment or reschedule the payment through the Service. In the case of fixed payments, only the payment currently scheduled will be impacted. Fixed payments scheduled for future dates will not be affected.

  5. Cancel or Change Payment Instructions. Payments must be changed or canceled using the Service prior to the business day the transaction is scheduled to be initiated. If you ask us to cancel a payment after it is issued and we agree to do so, we may charge you a stop payment fee. Stop payment orders whether oral, written, or electronic, will be in effect for a period of six (6) months. If requested by the Association, you will confirm any stop payment order in writing. After six (6) months, any stop payment will terminate and must be renewed in order to continue in effect. The Association may pay any item that is presented following the lapse of any stop payment order.

  6. No Signature Required. When any payment or other online Service generates items to be charged to your account, you agree that we may debit your Bill Payment account without requiring your signature on the item and without prior notice to you.

    Multiple Person Bill Payment Accounts. If more than one person has access to a Bill Payment account, each person may individually enroll in the Bill Pay service. Each enrolled person needs a unique password but may choose to use the same payee list. Each individual may terminate her/his enrollment in the Bill Payment service without affecting the Service for any other person enrolled in that Bill Payment account.

IX. Linked Accounts

All accounts with the Association that you enroll in a service will be linked by the tax identification numbers of the persons authorized to access the account. The linked accounts will appear together without regard to the ownership of the accounts. For example, if an authorized user of a linked account accesses the Service, that authorized user will be able to view and access at a single time the following accounts:

** Non-Profit Accounts are view only

X. Business Accounts

If you are a business, any authorized user of your business is authorized on such terms, conditions, and agreements as we may require to:

XI. Term and Termination

A. Term. This Agreement will become effective on the Effective Date and shall remain in full force and effect until termination in accordance with the following provisions. Geddes Federal Savings and Loan Association reserves the right to terminate this agreement or use of these services for any reason.

B. Termination for Cause. We may immediately terminate your electronic Banking privileges (including the Bill Payment Service) without notice to you under the following circumstances:

1. You do not pay any fee required by this Agreement when due or

2. You do not comply with the agreement governing your deposit account(s) or loan payment(s) or your account(s) is not maintained in good standing.

We will promptly notify you if we terminate this Agreement or your use of the Services for any other reason.

XII. Electronic Fund Transfer Provisions For Consumers Only

A. Applicability. These provisions are only applicable to online electronic fund transfers that credit or debit a consumer's checking, savings or other asset account and are subject to the Federal Reserve Board’s Regulation E (an "EFT"). When applicable, the Association may rely on any exceptions to these provisions that are contained in Regulation E. All terms that are not defined in this Agreement but which are defined in Regulation E shall have the same meaning when used in this section.

B. Your Liability. The following determines your liability for any unauthorized EFT or any series of related unauthorized EFTs:

(Business Days: For purposes of these disclosures, our business days are Monday through Friday.

Holidays are not included)

1. If you notify the Association within two (2) business days after your password was lost or stolen, your liability will not exceed $50.00 or the amount of the unauthorized EFTs that occur before notification, whichever is less

2. If you fail to notify the Association within two (2) business days after your password was lost or stolen, your liability will not exceed the lesser of $500.00 or the total of:

3. You must report an unauthorized EFT that appears on your periodic statement, no later than 60 days of transmittal of the statement to avoid liability for subsequent transfers. Your liability will not exceed the amount of the unauthorized EFTs that occurred with the 60-day period. You may also be liable for the amounts as described in sections 1 and 2 above.

4. If the report is made orally, we will require that you send the complaint or question in writing within 20 business days. We will notify you with the results of the investigation within 10 business days and will correct any error promptly. If more time is needed, however, we may take up to 45 days to investigate a complaint or question. If this occurs, we will credit your account within 10 business days for the amount you think is in error. This will allow you to use the money during the time it takes us to complete our investigation. If your complaint or question is not received in writing within 10 business days, we may not credit your account until the investigation is completed. If an alleged error involves an electronic fund transfer outside a state or territory or possession of the United States, the applicable time periods for action by us are 20 business days (instead of 10) and 90 calendar days (instead of 45). If we determine that no error occurred, we will send you a written explanation within three business days after the investigation is complete. You may request copies of the documents that were used in the investigation.

5. You may notify the Association by telephone or written notification. General e-mail to report an unauthorized transaction is not secure and therefore not advised.

C. Telephone Numbers and Addresses. In case of errors or questions regarding an Online Banking or Bill Payment transaction, call 315-468-6281 or write to us at: Geddes Federal Savings and Loan, Attention: Online Banking, 2208 West Genesee Street, PO Box 19040, Syracuse, NY 13209.

We must hear from you at the telephone number or address, listed above, no later than 60 days after we sent you the FIRST statement on which the problem or error appeared. We will need:

1. Your name and account number

2. A description of the error or the transfer in question and an explanation concerning why you believe it is an error or more information

3. The dollar amount of the suspected error and date on which it occurred.

XIII. Liability

A. Our Liability. This section explains our liability to you only to the extent that any other agreements, notices or disclosures have not separately disclosed our liability. In no event shall we be liable to you for failure to provide access to your Online Banking or Bill Payment services accounts. Unless otherwise required by applicable law, we are only responsible for performing the Online Banking and Bill Payment services as delineated in this agreement. We will be liable for the amount of any material losses or damages incurred by you and resulting directly from our gross negligence.

We will not be liable to you in the following instances:

1. If through no fault of the Association, you do not have enough money in your account to make the transfer.

2. If circumstances beyond our control (such as fire, flood, power outage, equipment or technical failure or breakdown) prevents the transfer despite reasonable precautions that we have taken.

3. If there is a hold on your account, or if access to your account is blocked, in accordance with banking policy.

4. If your funds are subject to a legal proceeding or other encumbrance restricting the transfer.

5. If your transfer authorization terminates by operation of law.

6. If you believe someone has accessed your account(s) without your permission and you fail to notify the Association immediately.

7. If you have not properly followed the instructions on how to make a transfer included in this Agreement.

8. If we have received incomplete or inaccurate information from you or a third party involving the account or transfer.

9. If we have a reasonable basis for believing that unauthorized use of your password or account has occurred or may be occurring or if you default under this agreement, the deposit account agreement, a credit agreement or any other agreement with us, or if we or you terminate this Agreement.

IN NO EVENT SHALL WE HAVE ANY LIABILITY TO YOU OR ANY THIRD PARTY FOR ANY INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES RESULTING FROM OR ARISING OUT OF THIS AGREEMENT.

B. Indemnification. You agree to indemnify, defend and hold us, directors, officers, employees and agents harmless against any third party claim, demand, suit, action or other proceeding and any expenses related to an Online Banking or Bill Payment Service.

C. Third Parties. We are not liable for any loss or liability resulting from any failure of your equipment or software, or that of an internet browser provider such as Netscape (Netscape Navigator browser) or Microsoft (Microsoft Explorer browser), by an internet access provider, or by an online service provider, nor will we be liable for any direct, indirect, special or consequential damages resulting from your access to or failure to access an Online Banking or Bill Payment Service.

D. Virus Protection. The Association is not responsible for any electronic virus or viruses that you may encounter. We suggest that you routinely scan your PC using a virus protection product. An undetected virus may corrupt and destroy your programs, files, and your hardware or compromise your Online Banking Account.

XIV. General Terms and Conditions

A. Association Agreements. In addition to this Agreement, you and the Association agree to be bound by and comply with the requirements of the agreements applicable to each of your Online Accounts. Your use of the Online Banking Service or the Bill Payment Service is your acknowledgment that you have received these agreements and intend to be bound by them. You should review other disclosures including the charges that may be imposed for Bill Pay Service. We will automatically deduct applicable fees from your Bill Payment Account each month.

B. Changes and Modifications. The Association may modify the terms and conditions applicable to the Services from time to time. We may send any notice to you via e-mail and you will have to be deemed to have received it three days after it is sent. The revised terms and conditions shall be effective at the earliest date allowed by applicable law. We reserve the right to terminate this Agreement and your use of the Services in whole or in part at any time without prior notice.

C. Notices. Unless otherwise required by applicable law, any notice or written communication given pursuant to this Agreement may be sent to you electronically or mailed to your current address on file.

D. Disclosure of Information. We will only disclose information to third parties about your account or transfers you make under the following circumstances:

E. Governing Law. This Agreement is governed by the laws of the State of New York and applicable federal law.