Membership and Account Agreement 
This Agreement covers your and our rights and responsibilities concerning Accounts the Credit Union (Credit Union) offers. In this Agreement, the words "you" and "yours" mean anyone who signs a Signature Card, which is any membership application recorded with the credit union, including any Account Update. The words "we", "us", and "our" mean the Credit Union. The word "account" means any one or more share or other accounts you have with the Credit Union.
Your account type(s) and ownership features are designated on your Signature Card. By signing a Signature Card, each of you, jointly and severally, agree to the terms and conditions in this Agreement, Signature Card, the Funds Availability Disclosure, Rate Sheet, Fee Schedule, if applicable, Electronic Funds Transfer Transaction Disclosure, and any Account Receipt accompanying this Agreement, and the Credit Union's Bylaws and policies, and any amendments of these documents from time to time which collectively govern your Membership and Accounts.

1. Membership Eligibility and Information. To join the Credit Union you must meet the membership requirements including purchase and maintenance of at least one (1) share ("membership share") as set forth in the Credit Union's Bylaws. You authorize us to check your account, credit, and employment history, and obtain reports from third parties, including credit reporting agencies, to verify your identity and/or eligibility for the accounts and services you request. You authorize us to contact your employer and obtain information we need and you consent to release of that information to us.

2. Identification. As a credit union responsible for the safety and security of members' funds, Tower may require at least two forms of acceptable identification to conduct financial transactions. Circumstances may further require that the identification presented be approved by management.

Important Information about Procedures for Opening a New Account 
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We will also ask to see your driver's license and/or other identifying documents.
 
3. Individual Accounts. An individual account is an account owned by one member (individual, corporation, partnership, trust or other organization) qualified for credit union membership. If the account owner dies, the interest passes, subject to applicable law, to the decedent's estate or Payable on Death (POD) beneficiary/payee or trust beneficiary, subject to other provisions of this Agreement governing our protection for honoring transfer and withdrawal requests of an owner or owner's agent prior to notice of an owner's death. The account is subject to the terms of the Maryland Multiple-Party Accounts law.
 
4. Joint Accounts. A Joint Account is subject to the Maryland Multiple-Party Accounts Law and includes joint accounts, POD accounts, and some trust accounts. An account owned by two or more persons is a joint account. A "party" is a person who possesses a present right to draw on funds in a joint account.

a. Rights of Survivorship. Unless otherwise stated on the Signature Card, a joint account includes rights of survivorship. This means when one party dies, all sums in the account will pass to the surviving party(ies). For an account without rights of survivorship, the deceased party's interest passes to his or her estate. A surviving party's interest is subject to the Credit Union's statutory lien for the deceased party's obligations, and to any security interest or pledge granted by a deceased party, even if a surviving party did not consent to it.

b. Control of Accounts. Any party is authorized and deemed to act for any other party(ies) and may instruct us regarding transactions and other account matters. Each party guarantees the signature of any other party(ies). Any party may withdraw all funds, stop payment on items, transfer, or pledge to us all or any part of the shares (except the membership share) without the consent of the other party(ies). We have no duty to notify any party(ies) about any transaction. We reserve the right to require written consent of all parties for any change to or termination of an account. If we receive written notice of a dispute between parties or inconsistent instructions from them, we may suspend or terminate the account, but are not required to, and require a court order or written consent from all parties to act before we take further action.

c. Liability of Parties on an Account. If a deposited item in a joint account is returned unpaid, an account is overdrawn, if we do not receive final payment on a transaction, or otherwise suffer a loss on an account, the parties, jointly and severally, are liable to us for the amount of the returned item, overdraft, unpaid amount, or loss and any charges, regardless of who initiated or benefited from the transaction. We may charge any account in which any party has an ownership interest, including individual accounts and joint owner accounts with other persons, for the amount of such liability. If any party is indebted to us for any reason, including, but not limited to, as borrower, drawer, guarantor, endorser, or otherwise, we may apply funds in or charge the joint account for the amount of the indebtedness and any charges, regardless of who contributed funds to the joint account and even if such charge creates an overdraft in the joint account. This means that if one party overdraws his or her individual account, the overdraft may be charged to any joint account in which he or she is a party, and, if funds are not available in the joint account to pay the overdraft, we may apply funds in or charge any individual account of any other party, or any joint account of any other party and another person or persons, for the amount of the joint account overdraft.

d. POD/Trust Account Designations. A Payable on Death (POD) account or trust account designation is an instruction to the Credit Union that a single or joint account so designated is payable to the party(ies) during his, her, or their lifetimes and, when the last party on an account dies, payable to any named and surviving POD payee or trust beneficiary. When there is more than one surviving beneficiary/payee the amounts in the account are owned jointly in equal shares by such beneficiaries/payees. Any POD or trust beneficiary/payee designation shall not apply to Individual Retirement Accounts (IRAs) which are governed by a separate beneficiary/payee designation. We are not obligated to notify any beneficiary/payee of the existence of any account or the vesting of the beneficiary/payee's interest in any account, except as otherwise provided by law.

e. Death of a Party. If two or more parties survive, and the surviving parties are members of the Credit Union, the account will remain a joint ownership account and the survivors each will own the account in full with survivorship rights. If the surviving parties are not members of the Credit Union, membership will be offered if Field of Membership eligibility requirements are satisfied as specified in the Credit Union's Bylaws. If the surviving parties are not eligible for membership, then the account will be closed and separate checks, in equal shares, will be made payable to the surviving parties. If only one party survives and the sole surviving party is a member of the Credit Union, the account will become an individual ownership account and funds will be transferred to the Prime Share account of the sole surviving party. If only one party survives and the sole surviving party is not a Credit Union member, membership will be offered if Field of Membership eligibility requirements are satisfied as specified in the Credit Union's Bylaws. If membership is accepted, then the funds will be transferred to the new member's Prime Share account. If the sole surviving party is not a credit union member, does not wish to become a member, or is not eligible for membership, then the account will be closed and a check will be made payable to the sole surviving party.
 
5. Accounts for Minors. We may require any account established by a minor to be a joint account with a member who has reached the age of majority under state law and who shall be jointly and severally liable to us for any returned item, overdraft, or unpaid charges, or losses or amounts on such account. We may take deposits from and pay funds directly to the minor without regard to his or her minority. Unless a guardian or parent is an account owner, the guardian or parent shall not have any account access rights. We have no duty to inquire about the use or purpose of any transaction. We will not change the account status when the minor reaches the age of majority, unless authorized in writing by the member account owner. New accounts for minors may not be opened online.
 
6. Uniform Transfers to Minors Account. A Uniform Transfers to Minors Account (UTMA), Custodial Account, is an individual account created by a custodian who deposits funds as an irrevocable gift to a minor. The minor to whom the gift is made is the beneficiary of the custodial property in the account. The custodian has possession and control of the account for the exclusive right and benefit of the minor and, barring a court order otherwise, is the only party entitled to make deposits, withdrawals, or close the account. We have no duty to inquire about the use or purpose of any transaction. If the custodian dies, we may suspend the account, until we receive instructions from any person authorized by law to withdraw funds or a court order authorizing withdrawal.
 
7. Agency Designation on an Account (Convenience Account). A Convenience Account is an instruction to us that the owner authorizes another person (Convenience Person) to make transactions as agent for the account owner regarding the accounts designated. A Convenience Person has no ownership interest in the account(s) or Credit Union voting rights. We have no duty to inquire about the use or purpose of any transaction made by the Convenience Person.
 
8. Deposit of Funds Requirements. Funds may be deposited to any account, in any manner approved by the Credit Union, in accordance with the requirements set forth in this agreement. We reserve the right to refuse any deposit in our sole discretion.

a. Endorsements. We may accept transfers, checks, drafts, and other items for deposit into any of your accounts if they are made payable to, or to the order of, one or more account owners even if they are not endorsed by all payees. You authorize us to supply missing endorsements of any owners if we choose. If a check, draft, or item that is payable to two or more persons is ambiguous as to whether it is payable to either or both, we may process the check, draft, or item as though it is payable to either person. If an insurance, government, or other check or draft requires an endorsement as set forth on the back of the check or draft, we may require endorsement as set forth on the item. Endorsements must be made on the back of the share draft or check within 1-1/2 inches from the top edge, although we may accept endorsements outside this space. However, any loss we incur from a delay or processing error resulting from an irregular endorsement or other markings by you or any prior endorser will be your responsibility. By giving, whether orally or in writing, a third party information about your account (for example, your account number or the MICR information appearing at the bottom of your checks), you are authorizing those parties to generate withdrawal items withdrawing money from your account in the amounts they draw payable to whom they identify. All withdrawal items generated by third parties who have your account information are deemed to be authorized by you. You authorize us to honor those withdrawal items and we have no obligation to recredit your account.

b. Collection of Items. We act only as your agent and we are not responsible for handling items for deposit or collection beyond the exercise of ordinary care. Deposits made by mail or at unstaffed facilities are not our responsibility until we receive them. We are not liable for the negligence of any correspondent or for loss in transit, and each correspondent will only be liable for its own negligence. We may send any item for collection. Items drawn on an institution located outside the United States are handled on a collection basis only. You waive any notice of nonpayment, dishonor, or protest regarding items we purchase or receive for credit or collection to your account.

c. Final Payment. All items or Automated Clearing House (ACH) transfers credited to your account are provisional until we receive final payment. If final payment is not received, we may charge your account for the amount of such items or ACH transfers and impose a return item charge on your account. Any collection fees we incur may be charged to your account. We reserve the right to refuse or return any item or funds transfer.

d. Direct Deposits. We may offer preauthorized deposits (e.g., payroll checks, Social Security or retirement checks, or other government checks) or preauthorized transfers from other accounts. You must authorize each direct deposit or preauthorized transfer by filling out a separate form. You must notify us at least thirty (30) days in advance to cancel or change a direct deposit or transfer option. Upon a bankruptcy filing, unless you cancel an authorization we will continue making direct deposits in accordance with your authorization on file with us. If we are required to reimburse the U.S. Government for any benefit payment directly deposited into your account, we may deduct the amount returned from any of your accounts, unless prohibited by law.

e. Crediting of Deposits. Deposits made after the deposit cutoff time and deposits made on either holidays or days that are not our business days will be credited to your account on the next business day.

9. Account Access.

a. Authorized Signature. Your signature on the Signature Card authorizes your account access. We will not be liable for refusing to honor any item or instruction if we believe the signature is not genuine. If you have authorized the use of a facsimile signature, we may honor any draft that appears to bear your facsimile signature even if it was made by an unauthorized person. You authorize us to honor transactions initiated by a third person to whom you have given your account number even if you do not authorize a particular transaction.

b. Access Options. You may withdraw or transfer funds from your account(s) in any manner we permit (e.g., at an automated teller machine, in person, by mail, automatic transfer, or telephone, as applicable). We may return as unpaid any draft drawn on a form we do not provide, and you are responsible for any loss we incur handling such a draft. We have the right to review and approve any form of power of attorney and may restrict account withdrawals or transfers. We are under no obligation to honor any power of attorney.

c. ACH & Wire Transfers. If we provide the service, you may initiate or receive credits or debits to your account through wire or Automated Clearing House (ACH) transfer. You agree that if you receive funds by a wire or ACH transfer, we are not required to notify you at the time the funds are received. Instead, the transfer will be shown on your periodic statement. We may provisionally credit your account for an ACH transfer before we receive final settlement. We may reverse the provisional credit or you will refund us the amount if we do not receive final settlement. When you initiate a wire transfer, you may identify either the recipient or any financial institution by name and by account or identifying number. The Credit Union (and other institutions) may rely on the account or other identifying number as the proper identification even if it identifies a different party or institution.

d. Credit Union Examination. We may disregard information on any draft or check, other than the signature of the drawer, the amount and any magnetic encoding. You agree we do not fail to exercise ordinary care in paying an item solely because our procedures do not provide for sight examination of items.
 
10. Account Rates and Fees. We pay account earnings and assess fees against your account as set forth in the Rate Sheet and Fee Schedule. We may change the Rate Sheet and Fee Schedule at any time and will notify you as required by law.
 
11. Transaction Limitations.

a. Withdrawal Restrictions. We permit withdrawals only if your account has sufficient available funds to cover the full amount of the withdrawal or you have an established overdraft protection plan. Drafts or other transfer or payment orders which are drawn against insufficient funds may be subject to a service charge set forth in the Fee Schedule. If there are sufficient funds to cover some, but not all, of your withdrawal, we may allow those withdrawals for which there are sufficient funds in any order at our discretion.

We may refuse to allow a withdrawal in some situations, and will advise you accordingly; for example: (1) a dispute between account owners (unless a court has ordered the Credit Union to allow the withdrawal); (2) a legal garnishment or attachment is served; (3) the account secures any obligation to us; (4) required documentation has not been presented; and (5) you fail to repay a Credit Union loan on time. We may require you to give written notice of seven (7) days to sixty (60) days before any intended withdrawals.

b. Transfer Limitations. For Share Savings and Money Market accounts, if applicable, you may make up to six (6) preauthorized, automatic, telephonic, or audio response transfers to another account of yours or to a third party during any calendar month. Of these six, you may make no more than three (3) transfers to a third party by check or debit card. Any checks in excess of three (3) per month drawn on a money market account will be returned. A preauthorized transfer includes any arrangement with us to pay a third party from your account upon oral or written orders including orders received through the Automated Clearing House (ACH). You may make unlimited transfers to any of your accounts or to any Credit Union loan account and may make withdrawals in person, by mail, or at an ATM. However, we may refuse or reverse a transfer that exceeds these limitations and may assess fees against, suspend or close your account.

If we have been notified, or we reasonably believe there is a legitimate dispute among any parties who have or claim an interest in your account, including the Credit Union, we may, at our discretion: (i) continue to rely on the signature cards, resolutions, and other account documents in our possession, (ii) freeze all or any portion of the funds we deem appropriate until the dispute is resolved; (iii) pay the funds into an appropriate court of law or equity for resolution; (iv) honor the competing claim upon receipt of evidence we deem satisfactory to justify such claim; or (v) close the account and pay any proceeds to: (a) all who have or claim an interest in the account, or (b) the account owner(s) as indicated in our records. In addition, we may, at our option, commence a lawsuit to determine the ownership of your account.

The Credit Union's right to freeze or place a hold on your account includes prohibiting any type of withdrawal or transfer from the account and/or preventing any deposits or credits from being made to the account. The Credit Union's right to freeze or place a hold on your account shall also apply if the Credit Union, in good faith, believes: (i) it has a claim against the account owner(s) or the funds in the account or something has occurred or is reasonably expected to occur which will result in the Credit Union having a claim or dispute against the account owner(s) or the funds in the account; or (ii) that placing a hold on the account will best protect the interest of any one of the members or signers on the account; or (iii) placing a hold on the account would protect the Credit Union from any claims regarding disposition of the funds in the account. You further agree that, as a result of a hold placed on an account, the Credit Union shall have no liability based on any item which is returned unpaid, causes the account to go into overdraft status, results in any item being declared "NSF" or causes any other loss or damage to you.
 
12. Certificate Accounts. Any time deposit, term share, share certificate, or certificate of deposit account allowed by state law (Certificate Account), whichever we offer, is subject to the terms of this Agreement, Rate Sheet, Fee Schedule, and Share Certificate Account Agreement for each account the terms of which are incorporated herein by reference.
 
13. Overdrafts.

a. Payment of Overdrafts. If, on any day, the available funds in your share or deposit account are not sufficient to pay the full amount of a check, draft, item, transaction or other items posted to your account plus any applicable fee (“overdraft”), we may pay or return the overdraft.The credit union’s determination of an insufficient available account balance may be made at any time between presentation and the credit union’s midnight deadline with only one review of the account required.We do not have to notify you if your account does not have sufficient available funds to pay an overdraft.Your account may be subject to a charge for each overdraft regardless of whether we pay or return the overdraft. Except as otherwise agreed in writing, if we exercise our right to use our discretion to pay an overdraft,we do not agree to pay overdrafts in the future and may discontinue covering overdrafts at any time without notice. If we pay an overdraft or impose a fee that overdraws your account, you agree to pay the overdrawn amount in accordance with your overdraft protection plan or, if you do not have such a plan, in accordance with our overdraft policy.

b. Order of Payments. Checks, drafts, items and other transactions may be processed in the order that you make them or in the order that we receive them.We may, at our discretion, pay a check, draft or item and execute other transactions on your account in any order we choose.The order in which we process checks, drafts and items and execute other transactions on your account may affect the total amount of overdraft fees that may be charged to your account. Please contact us if you have questions about how we pay checks and drafts and process transfers and withdrawals.
 
14. Postdated and Staledated Drafts. We may pay any draft without regard to its date unless you notify us of a postdating. The notice must be given to us in time so that we can notify our employees and reasonably act upon the notice and must accurately describe the draft, including the exact number, date, and amount. You understand that the exact information is necessary for the Credit Union's computer to identify the draft. We are not responsible if you give us an incorrect or incomplete description, or untimely notice. You may make an oral or written notice which is effective until the earlier of the date written on the draft or six (6) months and may be renewed in writing from time to time. You agree not to deposit checks, drafts, or other items before they are properly payable. We are not obligated to pay any check or draft drawn on your account which is presented more than six (6) months past its date.
 
15. Stop Payment Orders.

a. Stop Payment Order Request. You may request a stop payment order on any draft drawn on your account. If provided in writing, to be binding an order must be dated and describe the account and draft number and the exact amount. The stop payment will be effective if the Credit Union receives the order in time for the Credit Union to act upon the order and you state the number of the account, number of the draft, and its exact amount. You understand that the exact information is necessary for the Credit Union's computer to identify the draft. If you give us incorrect or incomplete information, we will not be responsible for failing to stop payment on the draft. If the stop payment order is not received in time for us to act upon the order, we will not be liable to you or to any other party for payment of the draft. If we recredit your account after paying a draft over a valid and timely stop payment order, you agree to sign a statement describing the dispute with the payee, to transfer to us all of your rights against the payee or other holders of the draft, and to assist us in any legal action.

b. Duration of Order. You may make an oral or written stop payment order which is effective for six (6) months and may be renewed in writing from time to time. We do not have to notify you when a stop payment order expires.

c. Liability. Fees for stop payment orders are set forth on the Fee Schedule. You may not stop payment on any certified check, cashier's check, teller's check, or any other check, draft, or payment guaranteed by us. Although payment of an item may be stopped, you may remain liable to any item holder, including us. You agree to indemnify and hold the Credit Union harmless from all costs, including attorney's fees, damages, or claims related to our refusing payment of an item under your stop payment order, including claims of any joint account owner, payee, or indorsee, or related to in failing to stop payment of an item as a result of incorrect information provided by you.
 
16. Credit Union Liability. If we do not properly complete a transaction according to this Agreement, we will be liable for your losses or damages not to exceed the amount of the transaction, except as otherwise provided by law. We will not be liable if: (1) your account contains insufficient funds for the transaction; (2) circumstances beyond our control prevent the transaction; (3) your loss is caused by you or another financial institution's negligence; or (4) your account funds are subject to legal process or other claim. We will not be liable for consequential damages, except liability for wrongful dishonor. We exercise ordinary care if our actions or nonactions are consistent with applicable state law, federal reserve regulations and operating letters, clearinghouse rules, and general banking practices followed in the area we serve. You grant us the right, in making payments of deposited funds, to rely exclusively on the form of the account and the terms of this Account Agreement. Any conflict between what you or our employees may say or write will be resolved by reference to this Agreement.
 
17. Credit Union Lien and Security Interest. If you owe us money as a borrower, guarantor, endorser, or otherwise, we have a statutory lien on the account funds in any account in which you have an ownership interest, regardless of their source, unless prohibited by law. We may apply these funds, without further notice to you, in any order to pay off your indebtedness. By not enforcing a lien, we do not waive our right to enforce it later. In addition, you grant the Credit Union a consensual security interest in your accounts and we may use the funds from your accounts to pay any debt or amount now or hereafter owed the Credit Union, except for obligations secured by your residence, unless prohibited by applicable law. All accounts are nonassignable and nontransferable to third parties.
 
18. Legal Process. If any legal action is brought against your account, we may pay out funds according to the terms of the action or refuse any payout until the dispute is resolved. Any expenses or attorney fees we incur responding to legal process may be charged against your account without notice, unless prohibited by law.
 
19. Account Information. Upon request, we will give you the name and address of each agency from which we obtain a credit report regarding your account. We agree not to disclose account information to third parties except when: (1) it is necessary to complete a transaction; (2) the third party seeks to verify the existence or condition of your account in accordance with applicable law; (3) such disclosure complies with the law or a government agency or court order; or (4) you give us written permission.
 
20. Notices.

a. Name or Address Changes. You are responsible for notifying us of any address or name change. The Credit Union is only required to attempt to communicate with you at the most recent address you have provided to us. We require all notices from you to us be provided in writing. We may impose a fee as set forth in the Fee Schedule when mail is returned because of an invalid address.

b. Notice of Amendments. Except as prohibited by applicable law, we may change the terms of this Agreement. We will notify you of any changes in terms, rates, or fees as required by law. We reserve the right to waive any term in this Agreement. Any such waiver shall not affect our right to future enforcement.

c. Effect of Notice. Any written notice you give us is effective when we receive it. Any written notice we give to you is effective when it is deposited in the U.S. Mail, postage prepaid and addressed to you at your statement mailing address. Notice to any account owner is considered notice to all account owners.
 
21. Taxpayer Identification Numbers and Backup Withholding. Your failure to furnish a correct Taxpayer Identification Number (TIN) or meet other requirements may result in backup withholding. If your account is subject to backup withholding, we must withhold and pay to the Internal Revenue Service (IRS) a percentage of dividends, interest, and certain other payments. If you fail to provide your TIN, we may suspend or deny opening your account, or, if applicable, you may request a non-dividend or non-interest bearing account until a TIN is provided.
 
22. Statements.

a. Contents. If we provide a periodic statement for your account, you will receive a periodic statement of transactions and activity on your account during the statement period as required by applicable law. If a periodic statement is provided, you agree that only one statement is necessary for a joint account. For share draft or checking accounts, you understand and agree that your original draft, when paid, becomes property of the Credit Union and may not be returned to you, but copies may be retained by us or payable through financial institutions and made available upon your request. You understand and agree that statements are made available to you on the date they are mailed to you. You also understand and agree that drafts or copies thereof are made available to you on the date the statement is mailed to you, even if the drafts do not accompany the statement.

b. Examination. You are responsible for examining each statement and reporting any irregularities to us. We will not be responsible for any forged, altered, unauthorized or unsigned items drawn on your account if (1) you fail to notify us sixty (60) days of the mailing date of the earliest statement regarding any forgery, alteration or unauthorized signature on any item described in the statement; or (2) any items are forged or altered in a manner not detectable by a reasonable person, including the unauthorized use of a facsimile signature machine.

c. Notice to Credit Union. You agree that the Credit Union's retention of drafts does not alter or waive your responsibility to examine your statements or the time limit for notifying us of any errors. The statement will be considered correct for all purposes and we will not be liable for any payment made or charge to your account unless you notify us in writing within the above time limit for notifying us of any errors. If you fail to receive a periodic statement you agree to notify us within fourteen (14) days of the time you regularly receive a statement.
 
23. Inactive Accounts. If your account falls below any applicable minimum balance and you have not made any transactions over a period specified in the Fee Schedule we may classify your account as inactive. Unless prohibited by applicable law, we may charge a service fee set forth on the Fee Schedule for processing your inactive account. You authorize us to transfer funds from another account of yours to cover any service fees, if applicable. To the extent allowed by law, we reserve the right to transfer the account funds to an account payable and to suspend any further account statements.
 
24. Escheat Accounts. Under Maryland law your account will be considered inactive if within the past three (3) years you have not: (1) deposited to or withdrawn from your account; (2) presented a passbook or other similar evidence of your account for crediting of interest or dividends; (3) written to us about your account or otherwise expressed an interest in your account as evidenced by a memorandum in our files; or (4) engaged in any credit or deposit transactions with us. We will notify you when your account becomes inactive. If you fail to respond to this notice within thirty (30) days, state law requires us to send all funds in your account to the state of Maryland as abandoned property. Unless prohibited by applicable law, we may charge a service fee set forth in the Fee Schedule for processing your escheat account.
 
25. Denial of Services. Any member who has caused Tower a loss may be denied all credit union products and services except for their ability to maintain a Prime Share account and to vote in annual or special meetings. A member may also be denied products and services if their account is not maintained in a manner in accordance with our account agreements and normal financial practices.
 
26. Special Account Instructions. You may request that we facilitate certain trust, will, or court-ordered account arrangements. However, because we do not give legal advice, we cannot counsel you as to which account arrangement most appropriately meets the specific requirements of your trust, will, or court order. If you ask us to follow any instructions that we believe might expose us to claims, lawsuits, expenses, liabilities, or damages, whether directly or indirectly, we may refuse to follow your instructions or may require you to indemnify us or post a bond or provide us with other protection. Account changes requested by you, or any account owner, such as adding or closing an account or service, must be evidenced by a signed Account Update form and accepted by us.
 
27. Termination of Account. We may terminate your account at any time without notice to you or may require you to close your account and apply for a new account if: (1) there is a change in owners or authorized signers; (2) there has been a forgery or fraud reported or committed involving your account; (3) there is a dispute as to the ownership of the account or of the funds in the account; (4) any share drafts are lost or stolen; (5) there are excessive returned unpaid items not covered by an overdraft protection plan; (6) there has been any misrepresentation or any other abuse of any of your accounts; or (7) we reasonably deem it necessary to prevent a loss to us. You may terminate an individual account by giving written notice. We reserve the right to require the consent of all owners to terminate a joint account. We are not responsible for payment of any draft, withdrawal, or other item after your account is terminated, however, if we pay an item after termination, you agree to reimburse us.
 
28. Termination of Membership. You may terminate your membership by giving us notice. You may be denied services or expelled for any reason allowed by applicable law, including causing a loss to the Credit Union.
 
29. Death of Account Owner. We may continue to honor all transfer orders, withdrawals, deposits, and other transactions on an account until we are notified of a member's death. Once we are notified of a member's death, we may pay drafts or honor other payments or transfer orders authorized by the deceased member for a period of ten (10) days after that date unless we receive instructions from any person claiming an interest in the account to stop payment on the drafts or other items in accordance with this Agreement. We may require anyone claiming a deceased owner's account funds to indemnify us for any losses resulting from our honoring that claim. This Agreement will be binding upon any heirs or legal representatives of any account owner.
 
30. Severability. If a court holds any portion of this Agreement to be invalid or unenforceable, the remainder of this Agreement shall not be invalid or unenforceable and will continue in full force and effect. All headings are intended for reference only and are not to be construed as part of the Agreement.
 
31. Enforcement. You are liable to us for any loss, cost or expense, including reasonable attorney's fees, we incur resulting from your failure to follow this Agreement. You authorize us to deduct any such loss, 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.
 
32. Governing Law. This Agreement is governed by the Credit Union's Bylaws, federal laws and regulations, the laws, including applicable principles of contract law, and regulations of the state in which the Credit Union's main office is located, and local clearinghouse rules, as amended from time to time. As permitted by applicable law, you agree that any legal action regarding this Agreement shall be brought in the county in which the Credit Union is located.
 
33. Checking Sub-Account Structure. Your checking account is structured as a master account with a checking sub-account and a savings sub-account. Funds not rountinely needed to pay debits may be transferred to the savings sub-account. Tower may periodically transfer funds between these two sub-accounts. This process will not affect your available account balance, the dividends you may earn, your monthly statement, your National Credit Union Administration insurance protection, or any other feature of your checking account(s).

Truth-In-Savings Disclosures 

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.

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 may change at any time as determined by the Credit Union's Board of Directors. The Dividend Rates and Annual Percentage Yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period.The Money Market Account is a Tiered Rate account. If your Daily Balance is from $0 to $2,499.99, the first Dividend Rate and Annual Percentage Yield for this account will apply. If your Daily Balance is $2,500 or greater, the second Dividend Rate and Annual Percentage Yield for this account will apply. Once a particular range is met, the Dividend Rate and Annual Percentage Yield for that balance range will apply to the full balance of your account. You may refer to the Rate Sheet provided with this disclosure for each applicable Annual Percentage Yield and Dividend Rate.

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

Dividend Computation, Compounding, and Crediting. Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. The compounding and crediting frequency of dividends for all accounts is monthly. The Dividend Period is the period of time at the end of which an account earns dividend credit. The dividend period for all accounts begins on the first day of the calendar month and ends on the last day of the calendar month.

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.

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 Prime Share (Savings) account. In accordance with the Credit Union's bylaws, the par value of one share is established at $5. When the Daily Balance of the Prime Share (Savings) account is reduced below the par value of one share at any point in time, the Credit Union may transfer funds from another share account on which the Primary Member is an owner. When the Daily Balance of the Prime Share (Savings) account is reduced below the par value of one share and sufficient funds are not present in another share account on which the Primary Member is an owner, the Credit Union, at its discretion, may assess the Prime Share (Savings) account a below minimum balance fee of up to $4.99. In addition, the Credit Union may terminate your membership until a sufficient deposit is made to meet the required par value of one share. The account statement will serve as the notice that the account has fallen below the minimum balance requirement, and the first charge will be applied thirty (30) days after mailing of that statement. If you have a loan secured by the Prime Share (Savings) account, additional credit advances will be prohibited, and you shall be denied any account services; however, you will be allowed to pay on the loan as agreed.

Account Limitations. For Prime Share (Savings), Money Market, Holiday Club, and "You Name It" Club accounts, no more than six (6) pre-authorized, automatic, or telephone transfers may be made from each account to another account 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 Holiday Club accounts, the entire balance will be transferred to another account of yours on or after October 1st and the account will remain open. For all accounts, cash withdrawals of $2,500 or more require advance notice of at least five (5) business days. This will insure that sufficient cash is available to satisfy your withdrawal request. Notwithstanding any other provision, the Credit Union may, at any time, require at least sixty (60) days prior written notice of an intention to withdraw or transfer funds from the account.

Fees for Overdrawing Accounts. Fees may be imposed on each check, draft, item,ATM card withdrawal, debit card point of purchase, 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 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.

Loan Disclosures 

Bill Consolidation, Education Loans, and Signature/Co-Applicant Loans
The Annual Percentage Rate (APR) for variable-rate advances is based on the average rate of the 2-year Treasury Bill for the first full business week of the month preceding the rate change (Index), rounded up to the nearest 1/10th of 1 percent, plus assigned basis points (BP) shown in the "Basis Points Above Index" column above.

The APR for new advances and existing balances is subject to change quarterly on the first day of each January, April, July and October to reflect any change in the Index. The APR will not increase or decrease more than 1% per quarter, or 4% per year.

The Minimum index rate is 7.25%. The maximum APR will never exceed the rate permitted under the Federal Credit Union Act. Any increase in the APR will result in more payments at the same amount, except those classes of loans with terms of 84 months or more.

Minimum Payments are never less than $30 every Month.
 
Certificate Secured Loans

Extended Term Certificate Loans: The Annual Percentage Rate (APR) will be adjusted periodically to remain 3% over the dividend rate of the Tower Federal Credit Union Share Certificate, which is set at the discretion of Tower Federal Credit Union.
 
MasterCard Disclosures

CREDIT CARD AGREEMENT AND TRUTH-IN-LENDING DISCLOSURE
In the agreement and disclosure the words you and your mean each member who applies for the card or who signs this agreement. Card means the Credit Card and any duplicates and renewals we issue. Account means your Credit Card account with us. We, us and ours means Tower Federal Credit Union.

Responsibility – If we issue you a card, you agree to repay all debts and the Finance Charge arising from the use of the card and the card account.  For example, you are responsible for charges made by yourself, your spouse and children.  You are also responsible for charges made by anyone else to whom you give the card and this responsibility continues until the card is recovered.  You cannot disclaim responsibility by notifying us but we will close the account for new transactions if you so request in writing and return all cards.  Your obligation to pay the account balance continues even though an agreement, divorce decree or other court judgment to which we are not a party may direct you or one of the other persons responsible to pay the account.

Lost Card Notification – If you believe your card has been lost or stolen, you will immediately call 1-866-839-3485.  If you are outside the United States or Canada call collect 1-727-570-4881.

Liability for Unauthorized Use – You have no liability as long as you have exercised reasonable care with respect to safeguarding the card, you have not reported two or more occurrences of unauthorized card use in the preceding 12 month period, and your account has been kept in good standing.

In any case, your total liability to the credit union shall not exceed $50.  Two exceptions that exclude the credit union from the liability limits are; the card is used by someone with actual, implied, or apparent authority, and the card holder received a benefit from the use of the card.

The above liabilities do not apply when the card is used to make an electronic funds transfer, or if a PIN is used as the Cardholder verification method for unauthorized transaction(s).

Credit Line – If we approve your application, we will establish a self-replenishing line of credit for you and notify you of its amount when we issue the card.  You agree not to let the account balance exceed this approved credit line.  Each payment you make on the account will restore your credit line by the amount of the payment which is applied to principal.  You may request an increase in your credit line by written application to us, which must be approved by our loan officer.  By giving you written notice, we may reduce your credit line from time to time, or with good cause, revoke your card and terminate this agreement.  Upon revocation of your card, any outstanding balance shall immediately become due and payable.  Good cause includes your failure to comply with this agreement, or our adverse reevaluation of your credit-worthiness.  You may also terminate this agreement at any time, but termination by either of us does not affect your obligation to pay the account balance.  The cards remain our property and you must recover and surrender to us all cards upon our request and upon termination of this agreement.

Monthly Payment – We will mail you a statement every month showing your previous balance of purchases and cash advances, the current transactions on your account, the unused credit available under your credit line, the Finance Charge due on purchases and cash advances, the total new balance, and the minimum payment upon receipt of your statement.  You may, of course, pay more frequently, pay more than the minimum payment, or pay the total new balance in full, and you will reduce the Finance Charge by doing so.  The minimum payment will be either: 2% of your total balance or $15.00, whichever is greater, or your total new balance, if less than $15.00; plus any portion of minimum payment(s) shown on a prior statement(s) which remains unpaid.  In addition, at any time your total new balance exceeds your credit line, you must immediately pay the excess upon our demand.  We will apply your payments first to the Finance Charges on both cash advances and purchases, then to any insurance premium payments, then to fees, then to the principal balances of cash advances previously billed, then to current cash advances, then to previously billed purchases and then to currently billed purchases.  It is important that payments be mailed to the address imprinted on your monthly credit card statement.  Payments can be made at any Tower Federal Credit Union branch.

Finance Charges – Finance Charges are imposed on purchases only if you do not pay in full the Ending Balance for Purchases shown on your Periodic Statement by the Payment Due Date which is at least 25 days after the billing date on the statement.  Your account will be subject to a Finance Charge for purchases at an Annual Percentage Rate and corresponding monthly periodic rate as disclosed in the Addendum.  Finance charge on purchases is computed by applying the monthly periodic rate to the “Average Daily Balance for Purchases” in your account during the billing cycle covered by the periodic statement.  To get your “Average Daily Balance for Purchases,” we take the beginning balance of your purchases each day, add any new purchases and subtract any payments or credits and unpaid Finance Charges.  This gives us the daily balance.  Then, we add all the daily balances of purchases for the billing cycle together and divide the total by the number of days in the billing cycle.  This gives us the “Average Daily Balance of Purchases.” 

Finance Charges on cash advances are imposed from the transaction date until the cash advance is paid in full.  The Finance Charge for cash advances is computed by multiplying the “Average Daily Balance of Cash Advances” by the daily periodic rate then multiplying the result by the number of days in the cycle.  To get your “Average Daily Balance of Cash Advances,” we take the beginning balance of cash advances each day, add any new cash advances, and subtract any payments or credits and any unpaid Finance Charges.  This gives us the daily balance.  Then, we add up all the daily balances of cash advances for the billing cycle and divide the total by the number of days in the billing cycle.  This gives us the “Average Daily Balance of Cash Advances.”

Using the Card – To make a purchase or cash advance, present the card to a participating Credit Card merchant, to us or to another financial institution.  Then sign the sales or cash advance draft which will be imprinted with your card information.  Your monthly statement will identify the merchant or financial institution at which transactions were made.  Sales drafts, cash advances or other credit drafts cannot be returned with the statement.  You will retain a copy of such drafts furnished at the time of the transaction to verify the accuracy of the monthly statement.  The credit union may charge a reasonable fee for photocopies of drafts requested.

Illegal Transactions Prohibited – 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 illegal gambling transaction, including, but not limited to online gambling.  Also, you agree that you will not use your card for any transaction that is illegal under applicable federal, state, or local law.

Other Charges – The following charges will be added to your account as applicable: $5.00 for each replacement card, $3.00 for each sales draft copy, and $2.00 per page for each statement copy (up to a maximum of $5.00 per statement month).

Returns and Adjustments – Merchants and others who honor the card may give credit for returns or adjustments, and they will do so by sending us a credit slip which we will post to your account.  If your credits and payments exceed what you owe us, we will hold and apply this credit balance against future purchases and cash advances, or refund it on your written request if it is $1 or more.

Foreign Transactions – If you effect a transaction with your MasterCard® outside the U.S., whether or not it is in U.S. dollars, a 1% fee will be assessed by MasterCard International (MCI).  If the transaction is in a currency other than U.S. dollars, MasterCard International will use its current currency conversion procedures which have been disclosed to all financial institutions that issue MasterCard.  The conversion rate used by MCI may vary from the rate on the original purchase date and the date the transaction is processed.  The fee will be shown as a separate item on your periodic statement.

Plan Merchant Disputes – We are not responsible for the refusal of any plan merchant or financial institution to honor your card.  We are subject to claims and defenses (other than tort claims) arising out of goods or services you purchase with the card only if you have made a good faith attempt, but have been unable to obtain satisfaction from the plan merchant, and: (a) your purchase was made in response to an advertisement we sent or participated in sending you; or (b) your purchase cost more than $50 and was made from a plan merchant in your state or within 100 miles of your home.  Any other disputes you must resolve directly with the plan merchant. 

Security Interest – (To secure your account, you grant us a purchase money security interest under the Uniform Commercial Code in any goods you purchase through the account.  If you default, we will have the right to recover any of these goods which have not been paid for through our application of your payments in the manner described in the section above called “Monthly Payment.”)  With respect to this account only, we will not assert any statutory right we may have if you are in default to prevent withdrawal of your unpledged credit union shares (deposits) below the unpaid balance of your account.  However, if you give or have given us a specific pledge of your credit union shares (deposits), or any other security interests for all your debts, your account will (also) be secured by your pledged shares (deposits) and by the property described in those other security agreements, except for your dwellings.

Cross Collateral Clause – Property securing other loans you have with the credit union may also secure this account.  However, the credit union waives any security interest it may have in your dwellings given through any other mortgages or security agreements for purposes of this account.

Statutory Lien – If you are in default on a financial obligation to us, federal law gives us the right to apply the balance of shares and dividends in all individual and joint accounts you have with us to satisfy that obligation.  After you are in default, we may exercise this right without further notice to you.  The statutory lien and/or your pledge will allow us to apply the funds in your account(s) to what you owe when you are in default.  The statutory lien and your pledge do not apply to any Individual Retirement Account or any other account that would lose special tax treatment under state or federal law if given as security.

Effect of Agreement – This agreement is the contract which applies to all transactions on your account even though the sales, cash advance, credit or other slips you sign may contain different terms.  We may amend this agreement from time to time by sending you the advance written notice required by law.  Your use of the card thereafter will indicate your agreement to the amendments.  To the extent the law permits, and we indicate in our notice, amendments will apply to your existing account balance as well as to future transactions.

Default – You will be in default if you do not make a payment of the amount required when it is due.  You will be in default if you break any promise you made or under any security agreement made in connection with an advance.  You will be in default if you die, file for bankruptcy, or become insolvent, that is, unable to pay your obligations when they become due.  You will be in default if you make any false or misleading statements in any credit application or update of credit information.  You will also be in default if something happens which the credit union believes may substantially reduce your ability to repay what you owe.  When you are in default the credit union can demand immediate payment of the entire amount you owe without giving you advance notice.  If immediate payment is demanded, you will continue to pay interest at the applicable interest rates in effect until what you owe has been repaid.  In the event of suit to collect unpaid balances, all costs, including attorney’s fees of 20% of the balance due or such greater amount as may be reasonable and just, and also those costs, expenses and attorney’s fees incurred in appeals proceedings shall be imposed.  The credit union can also exercise any other rights given by law when you are in default.

Statements and Notices – On a regular basis you will receive a statement showing all transactions under this account during the period covered by the statement.  Statements and notices will be mailed to you at the most recent address you have given the credit union in writing.  Notice to any one of you will be a notice to all.

Updating Information – You promise that you will promptly give the credit union written notice if you move, change your name or employment, or if any other information you provide to the credit union changes.  You also agree to provide the credit union updated financial information about yourself upon request.

No Waiver – The credit union can delay enforcing any of its rights any number of times without losing its rights.

Continued Effectiveness – If the law makes any term(s) of this account unenforceable, the other terms will remain in effect.

Copy Received – Your signature on the attached application acknowledges receipt of a copy of this agreement.

Business Days/Hours – Our credit card processor is available 24 hours/day, 7 days/week, 365 days/year.

Types of Available Transactions and Limits on Transactions:
You may use your card to:

1. Pay for purchases at places that have agreed to accept the card.
2. Obtain cash advances from our ATMs in conjunction with your PIN or at any ATM displaying the CIRRUS or MasterCard logos.

There is no limitation on the frequency of cash withdrawals you may make from our ATMs except that:

1. You may not make any cash withdrawals which would result in an outstanding account balance in excess of your credit limit and
2. You may only make a total of $500 in cash advance withdrawals per day.

You may withdrawal a minimum of $10 and a maximum of $500 from our ATMs each time you use your card and PIN, subject to a. and b. above.

What To Do If You Think You Find a Mistake On Your Statement

If you think there is an error on your statement, write to us at:

            Tower Federal Credit Union Member Service
            P.O. Box 30495
            Tampa, FL  33630-3495

In your letter, give us the following information:

• Account Information:  Your name and account number.
• Dollar Amount:  The dollar amount of the suspected error.
• Description of Problem:  If you think there is an error on your bill, describe what you believe is wrong and why you believe it is a mistake.

You must contact us within 60 days after the error appeared on your statement.  You must notify us of any potential errors in writing.  You may call us, but if you do we are not required to investigate any potential errors and you may have to pay the amount in question.
While we investigate whether or not there has been an error, the following are true:

• We cannot try to collect the amount in question, or report you as delinquent on that amount.
• The charge in question may remain on your statement, and we may continue to charge you interest on that amount.  But, if we determine that we made a mistake, you will not have to pay the amount in question or any interest or other fees related to that amount.
• While you do not have to pay the amount in question, you are responsible for the remainder of the balance.
• We can apply any unpaid amount against your credit limit.

Your Rights If You Are Dissatisfied With Your Credit Card Purchases

If you are dissatisfied with the goods or services that you have purchased with your credit card, and you have tried in good faith to correct the problem with the merchant, you may have the right not to pay the remaining amount due on the purchase.

To use this right, all of the following must be true:

1. The purchase must have been made in your home state or within 100 miles of your current mailing address, and the purchase price must have been more than $50.  (Note: Neither of these are necessary if your purchase was based on an advertisement we mailed to you, or if we own the company that sold you the goods or services.)
2. You must have used your credit card for the purchase. Purchases made with cash advances from an ATM or with a check that accesses your credit card account do not qualify. 
3. You must not yet have fully paid for the purchase.

If all of the criteria above are met and you are still dissatisfied with the purchase, contact us in writing at:

            Tower Federal Credit Union Member Service
            P.O. Box 30495
            Tampa, FL  33630-3495

While we investigate, the same rules apply to the disputed amount as discussed above.  After we finish our investigation, we will tell you our decision.  At that point, if we think you owe an amount and you do not pay we may report you as delinquent.

 
Home Equity Line of Credit

Variable Rate Feature: This plan has a variable rate feature and the annual percentage rate, (corresponding to the periodic rate) minimum payment and/or the length of the plan may change. The annual percentage rate includes only interest and no other costs.

The annual percentage rate is based on the value of an index. The index is the Prime Rate published in the Wall Street Journal. When a range of rates has been published, the highest rate is used. We will use the most recent index value available to us as of 3 days before the date of any annual percentage rate adjustment.

Margin: To determine the annual percentage rate that will apply to your account we add a margin to the value of the index. The margin that will apply to your plan will be based on your loan-to-value ratio. The margin for a loan-to-value equal to or less than 80% will be -1/2%. The margin for a loan-to-value greater than 80% will be +1%.

Repayment of Closing Costs: Closing costs paid by Tower must be repaid if you close the line of credit within the first 24 months.

Rate Changes: The annual percentage rate can change quarterly on the eleventh day of January, April, July, and October. There is no limit on the amount by which the annual percentage rate can change during any one year period. The maximum ANNUAL PERCENTAGE RATE that can apply is 18%.

Minimum Payment Requirements: During the 15 year draw period, your minimum payment will be the finance charge due. The minimum payment during the draw period will not repay the principal that is outstanding on the line. Your payment will be rounded up to the nearest dollar. During the draw period, if the interest rate increases, your minimum payment will increase. During the 15 year repayment period, your minimum payment will be equal to 1.5% of the outstanding balance at the end of the draw period.

During both the draw and repayment periods, your payment will never be less than the smaller of $50, or the full amount you owe.

Call or visit the credit union for complete terms of our home equity line of credit plan.
 
Personal Line of Credit, EZLine

EZLine Personal Line of Credit Variable Interest Rate. The Annual Percentage Rate (APR) is based on the Prime Rate (Index) as listed in the "Money Rates" section of the Wall Street Journal. The rate will be determined as of the third (3rd) Monday of the month preceding any Annual Percentage Rate adjustment, plus the applicable percentage listed above. The APR may change on the first day of each quarter (January, April, July, October) to reflect any change in the Index. The interest rate will never exceed 18% APR, or the maximum permitted under the Federal Credit Union Act, whichever is less. Any increase in the APR may result in an increase in your payment amount until what you owe has been repaid.

Minimum Payment: Your minimum payment is the greatest of: (1) 2% of the New Balance; or (2) $30; or (3) the New Balance, if the New Balance is less than $30. The "Payment Due Date" is approximately 20 days from the "Closing Date" of the billing period.

Funds Availability 

Tower’s policy is to provide our members with the quickest access to the funds from their deposits as is reasonably possible. However, based on the type of item presented for deposit, a hold may be required. Many items are available for immediate credit, others are available on a partial or delayed credit basis for a one (1) to six (6) day hold period. This hold period is the number of business days that funds in your account (either from a deposited item or cashed item) are not available to you.

Determining the Availability of a Deposit. The length of delay is counted in business days from the day of your deposit. Every day is a business day except, Saturday, Sunday, and federal holidays.

If a deposit is made at a Tower ATM before 12:00 noon on a day that the Credit Union is open, that day will be considered to be the day of deposit. However, if a deposit is made at a Tower ATM after 12:00 noon or on a day when the Credit Union is not open, the deposit will be considered made on the next business day the Credit Union is open.

Immediate Availability. If you make a deposit in person or through the mail, funds from the following deposit items, if payable directly to you, are available on the same day as your deposit:

• Cash
• U.S. Treasury checks
• Money orders
• Checks drawn on a Federal Reserve Bank or Federal Home Loan Bank
• State and local government checks
• Cashier’s, certified, travelers, or teller’s checks
• Tower share drafts and other Tower checks (“on-us checks”)
• Insurance checks
• Payroll checks if easily and clearly identified as such
• Any check or portion of a check used to make a payment on a Tower loan obligation (the remaining portion would be subject to normal holds). In the event of a returned check, the funds will be added back to the outstanding loan balance.

New Member Hold*. When a new member opens an account, it is considered a new account for the first 30 calendar days. Funds are made available on the following basis:

• Immediate Availability—Cash and those items included in the Immediate Availability category listed above. To receive immediate availability, these items must be payable directly to the member.
• Available Sixth Day—All other items.

Standard Hold*. Deposit items which are not classified in the Immediate Availability or Exceptions Hold categories are subject to a Standard Hold. If you make a deposit in person or through the mail, funds from these deposit items are made available on the following basis:

• Available Immediately—The first $500 of check(s) deposited are available immediately. However, at ATMs the immediate availability is $250.
• Available Next Day—The aggregated amount of deposit by check(s) in excess of $500 up to $5,000 will be held one (1) business day.
• Available Sixth Day—The aggregated amount of a deposit or deposits by check(s), in excess of $5,000, will be held five (5) business days.

Exception Hold*. Deposit items in this category will be held six (6) days. This category includes check(s) that are deposited under the following circumstances:

• Re-deposited checks—The check being deposited has been presented before and returned.
• Repeated overdrafts—You have had excessive NSF/Overdrafts on your Tower account(s) in the last six months.
• Reasonable cause to doubt collectibility (DC);
  • We received notice that the check is being returned unpaid.
  • We have received information that gives us reason to believe that the check is uncollectible. (Stop payment, insufficient funds, etc.)
  • The check is staledated or postdated.
  • We have confidential information that indicates that the check may not be paid.
  • Emergency conditions exist which may include: interruption of communications, computer failure, or other equipment failures; suspension of payments by another financial institution; a war; or other emergency conditions beyond the control of the depositary financial institution.

Restricted Service Hold*. We will notify you in writing if you are placed on restricted services and the reason(s) for this. Your check(s) will be held six (6) days.

*The Credit Union will provide notice if the ability to withdraw funds is delayed for any of these reasons and will state when the funds will be available. The reason(s) for the extended hold will be printed on your receipt under the amount of any check being deposited.

PLEASE NOTE: If the Credit Union cashes or accepts for deposit a check that is drawn on another financial institution, funds from the deposit may be available for withdrawal immediately but the ability to withdraw a corresponding amount of funds on deposit in one of your accounts with the Credit Union may be delayed. The funds would then not be available for withdrawal until the time periods that are described above for the type of check deposited.

For online account applications, there will be a 3 business day hold placed on funds when a credit or debit card is used to fund the new account and a 5 business day hold placed on funds when an external checking or savings account is used to fund the new account.

The staff that accepts your deposits normally do not have the authority to waive or override Tower’s check hold policies. If you have a question or a concern about a hold, please see the Branch Manager for additional clarification.

See the Fee Schedule, Rate Sheet, and the rest of this Agreement for additional account terms.

Fee Schedule 
The credit union’s Fee Schedule sets forth the service charges or fees that may be imposed for maintenance, activity, overdrafts, return of unpaid withdrawal items or deposits, or other service fees applicable to your account. The Fee Schedule, which has been provided within this Agreement, is subject to amendment from time to time, and is available upon request. Some of these fees and charges may be reduced or avoided through your actions.

TOWER'S PHILOSOPHY ON FEES
Tower exists to provide superior value to our members. One way that we do this is to provide products and services for as little cost as possible. At Tower, we don't believe in hidden fees. All of our fees are referenced here. If you compare our fee schedule with other financial institutions, you'll be pleased with the results.

Checking and Money Market Account
If you overdraw your account, there is a $20 fee for each occurrence. Check certification is available for $5 per check. Stop payments are $7.50 each. Copies of canceled checks are $3 each. Copies of your statement are $2 per page up to a maximum of $5 per statement month. Pricing of specialty checks is available upon request. The first time you require assistance balancing your account, there is no charge. Subsequent requests are charged at the rate of $3 per quarter hour. Assistance is free to visually impaired .

Prime Share Account
If your Prime Share account falls below $5 for six consecutive months, a below minimum balance fee, equal to the balance in the account, will be assessed and the account will be closed.

ATM/Debit Card
If you use a non-Tower ATM, there is a $.75 fee for each transaction, including cash advances, inquiries and transfers. Replacement cards are $5 each and replacement PINs are $2. Copies of sales drafts are $3 each. The cross-border transaction fee is up to 1% of the transaction.

Bill Payment
The online service is free if you setup three or more bill payments that process within a calendar month, otherwise the cost is $2.95 per calendar month. There is a $25 fee for each bill payment you stop. There is a $20 fee each time there are non-sufficient funds in your checking account to cover a transaction. Fees will automatically be deducted from your payment account.

Funds Transfer
Inbound 3-day transfers are free; next-day transfers are $5. Outbound: 3-day transfers are $3; next-day transfers are $5.

MasterCard®
If your payment is received 14 days after the due date, your MasterCard account will be charged $10. A replacement card charge is $5. Copies of sales drafts are $3 each and copies of your statement are $2 per page up to a maximum of $5 per statement month. If you use your MasterCard to obtain a cash advance at an ATM, there will be a $.75 fee. The cross-border transaction fee is up to 1% of the transaction.

American Express Travelers Cheques
Travelers cheques are priced at 1% of the purchase amount. Gift cheques are $2.50 each.

Miscellaneous Fees
Returned deposit due to non-sufficient funds (NSF) automatically charged to your account: $7.50 each. Outgoing wires: $10 each. Money orders: $1.50 each. Gift cards: $1.75 each. Foreign check deposit pricing depends on the amount, type of currency and financial institution of check. Garnishment/IRS levy fee: $75. Notary service (non-members): $2 per item. Inactive member fee (members over 22 with less than $100 deposit balance and no account activity in a 12-month period): $3 per quarter. Invalid address fee: $10 per quarter. Escheat fee (applies to accounts closed due to a 3-year period of inactivity): $20. Non-member cashing Tower check at a branch: $5 per item. Debits against savings accounts that are NSF: $20 each. Exceeding regulatory transaction limit fee: $20.

Fees are subject to change at any time without notice, except as required by law or regulation.

Electronic Funds Transfer (EFT) Transactions 
 
Tower Talk 24 and Home Banking Agreement
In this Agreement, the words "you" and "your" mean each person who applies for Tower Talk 24 and Tower's Home Banking service. The words "Credit Union" and "Tower" mean Tower Federal Credit Union. The words "account" and "accounts" mean those Tower accounts that are accessible with a PIN/password and the Tower Talk 24 and Home Banking services. The word "transaction" means an electronic funds transfer.

This Agreement defines your responsibilities and the Credit Union's responsibilities with respect to telephone and personal computer-initiated transactions. It is understood that the agreements and rules and regulations applicable to your accounts remain in effect and continue to be applicable, except as specifically modified by this Agreement. By signing the application for Tower Talk 24 and Home Banking, and/or using a PIN/password to conduct transactions, you agree to the terms of this Agreement.

PIN/Password Choice. The Credit Union will issue you an initial PIN/password to use when you access Tower Talk 24 for the first time. You will then be prompted to change your PIN. Your Tower Talk 24 PIN/password will be your PIN/password for the Credit Union's Home Banking service. Login and change your Home Banking PIN/password to one of your own choosing immediately after your Home Banking service is activated. If you do not use Home Banking, it may become inactive until you contact the Credit Union to reactivate your Home Banking service. The Credit Union will have no record of the PIN/password you select. You should not write your PIN/password on any paper which identifies what it is or on any paper with your account numbers or Social Security number. You agree not to give or make available your PIN/password to any other individuals. If you elect to share your PIN/password with any other person, including, but not limited to, the joint owner of your account, you do so at your risk, and not at Tower's risk. By electing to share your PIN/password with another person, you have authorized that person to conduct transactions with your accounts, including to transfer funds out of all of your accounts. You are liable for these transactions; Tower is not. If you give your PIN/password to the joint owner of your account, the joint owner will have access to all of your other Tower accounts, even accounts which are not joint accounts or which are joint with other persons. If you believe that your password has been compromised, you must immediately change your password and notify Tower that your password was compromised. Contact Tower immediately at 301-497-7000 or 800-787-8328.

PIN/Password Use. You may access your accounts by telephone through Tower Talk 24 or by personal computer through the Credit Union's Home Banking service using your PIN/password to conduct transactions. You agree to follow the instructions on use of Tower Talk 24 and Home Banking. These instructions will be considered part of the Agreement. Your PIN/password may only be used to access those accounts that you have requested and the Credit Union has approved for access through Tower Talk 24 and Home Banking. If by mistake, the use of your PIN/password permits you to withdraw funds from any account that you should not be allowed to use, the Credit Union may charge the amount involved to a valid account. Your PIN/password may not be used to overdraw any account. If you use your PIN/password to overdraw an account, then you owe the Credit Union the amount immediately—plus any service charge. The Credit Union also may deduct, without prior notification to you, the amount owed from any of your Tower accounts, or, if you have a Tower loan account, the overdrawn amount will be considered as a request for a loan advance, at the discretion of the Credit Union.

Transactions. By using your member number and PIN/password, you may transfer funds among your accounts and to other Tower member accounts that are linked for access to Tower Talk 24 or Home Banking, as well as make payments on your Credit Union loan accounts. You may also request a wire transfer be made from your account using the Wire Transfer Request Form in Home Banking. You agree that use of your member number and PIN/password shall constitute sufficient verification of your identity.

Under normal circumstances, all Tower Talk 24 and Home Banking transactions will be posted to your accounts within 24 hours.

Responsibility. You are responsible for all transactions made on your accounts with your PIN/password through Tower Talk 24 and Home Banking by anyone, including unauthorized transactions, subject to the limitations of applicable law. Legal limitations on your liability for unauthorized transactions are summarized below in the "Electronic Funds Transfers Disclosures" section. The Credit Union has no obligation to monitor the use of your PIN/password or notify you if unusual activity (regarding any of your accounts which may be assessed through a PIN/password) is noted.

Termination and Amendment. The Credit Union may terminate or cancel your use of Tower Talk 24 and Home Banking at any time. The Credit Union may give notice of termination or cancellation, but is not obligated to do so. Your PIN/password may not be used with Tower Talk 24 and Home Banking after termination. You may terminate or cancel the use of your PIN/password with Tower Talk 24 and Home Banking by giving the Credit Union written notice. Your written notice of termination will become effective no later than the end of the first business day following the Credit Union's receipt of notice. The termination of your Tower Talk 24 and Home Banking access will not affect any liability incurred by you prior to termination. The Credit Union may change this Agreement at any time by mailing a copy of the changes to your current account statement address. Unless the Credit Union is required to give advance notice by law, changes are effective on the date changes are mailed. Use of a PIN/password after the effective date of the change will acknowledge your acceptance of that change.

System Malfunction. You will not attempt to make a transaction when Tower Talk 24 or the Home Banking system informs you (or other circumstances give you a reason to believe) that the system is closed or is not operating properly due to a technical malfunction or is unable to initiate the desired transaction.

Equipment and Technical Requirements. To use Tower Talk 24 and Home Banking, you must have the necessary telephonic and electronic equipment. To use Home Banking you must have Internet access, such as a PC with a modem. It is your responsibility to acquire the equipment, software, and Internet service necessary to use the Home Banking service.

Limitation of Liability for Equipment and Viruses. The Credit Union is not responsible for any errors or failures caused by the malfunction of your equipment, software (including anti-virus software) or Internet access. The Credit Union also is not responsible for any computer viruses caused by use of the Home Banking service.

Collection Expenses. If the Credit Union has to file a lawsuit to collect what is owed by you, you will pay any reasonable expenses incurred by the Credit Union, including, but not limited to, outside collection agency fees and attorney's fees.

Agreement Controls. Both the Credit Union and you will be bound by this Agreement. If there is a conflict between the Agreement and something said by the Credit Union's employees, you agree that this Agreement controls. This Agreement is governed by the internal laws of Maryland and federal law.

Joint Account Owner(s). If one or more joint account holders signed the application for Tower Talk 24 or Home Banking service, then the words "you" and "your" also include joint account holders and joint account holders agree to all of the terms of this Agreement, except that joint account holders are not issued PIN/Passwords and may not make transactions. All joint account holders who sign the application for Tower Talk 24 and Home Banking consent to all transactions conducted by or authorized by the primary account holder and are jointly and severally responsible together with the primary account holder for all transactions conducted by the primary account holder. Joint account holders shall hold Tower harmless for any and all transactions made by anyone who is authorized on the account.

Agreement to Transact Business and Receive Disclosures by Electronic Means. The nature of the Home Banking Service requires all transactions to be conducted via the Internet and/or the World Wide Web. By clicking to mark the "I accept" box at the time of your first login to the Home Banking service, you agree that your Payment Account and its use in connection with the Service will be conducted by electronic means, that we may provide this Agreement, amendments, periodic statements, and other communications regarding the Service electronically in a format that allows visual text to be displayed on your personal computer or other electronic equipment, and that the initial disclosures, periodic statements, and change-in-terms notices required by Regulation E of the Electronic Funds Transfer Act may be sent to you electronically. Unless this Agreement provides otherwise, all documents delivered electronically will be effective when we transmit them to your Electronic Address as shown in our records unless we state a later effective date. We will mail you the most recent version of this disclosure upon your written request for no charge. Your consent to electronic delivery of disclosures applies only to the Service. You can send us messages electronically via the application's e-messaging feature. Generally, electronic messages sent and received via the application's e-messaging feature are secure, assuming you have logged on to the Service correctly and your Internet browser shows that a secured connection has been established. You may withdraw your consent to electronic delivery of disclosures by sending us a message electronically via the application's e-messaging feature. Otherwise, you may withdraw your consent to electronic delivery of disclosures by sending us notice in writing and sent by certified or registered United States mail, return receipt requested, postage prepaid, to Tower Federal Credit Union, Attention: MSC - Electronic Services, P.O. Box 123, Annapolis Junction, Maryland 20701-0123. Communications sent over the public Internet are not always secure. Accordingly, we strongly suggest that you do not send confidential information concerning the Service unless using the application's e-messaging feature. You agree that we may respond to any electronic message that you send to us via the application's e-messaging feature or Internet e-mail and that we may include in our response to you confidential information. However, we reserve the right not to respond to questions that you send via Internet e-mail and, instead, to respond to you in another manner. You may update the information we need to contact you electronically by sending us an e-mail as described above. Otherwise, send us notice of the updated information as described above.
 
eStatements
As a Home Banking user, you have the option to access your Credit Union share account and loan periodic statements online, also called eStatements. If you choose this option, you no longer will receive statements by mail with the exception of your MasterCard® credit card account monthly statements, if applicable. From the time you sign up for eStatements, your online statements will be available to you for eighteen (18) months after you are notified that they are available prior to being purged. We will alert you of the availability of your eStatements by sending you an e-mail notice at the electronic address as shown in your records. By changing your e-mail address in the “user options” in Home Banking, you will change your e-mail notice address. The e-mail notice will identify the account involved and the location where the eStatement is available. You will retrieve your own eStatements by accessing Home Banking with your personal password. It is your responsibility to maintain the proper equipment/software that will enable you to view, print, and save these statements for your records. To access and retain the electronic disclosures, you will need the hardware and software currently required for access to Home Banking. These requirements can be found on Tower's Home Page at towerfcu.org under Home Banking Login. From the Home Banking Hints & Help menu, select “Trouble Logging In?” By consenting to receive eStatements, you acknowledge that you are able to access the electronic disclosures online. You may order duplicate paper copies for the fee shown in the Fee Schedule. The Fee Schedule can be found by clicking on “Fee Schedule” on Tower’s Home Page at towerfcu.org. You may discontinue eStatements at any time and get paper statements instead. You must notify Tower prior to the last business day of the month, excluding Saturdays, to discontinue eStatements for that month. If you notify Tower after the last business day of the month, excluding Saturdays, your eStatements will not be discontinued until the following month. To discontinue eStatements you must notify Tower electronically via the Home Banking e-messaging feature or in writing sent by certified or registered United States mail, return receipt requested, postage prepaid, to Tower Federal Credit Union, Attention: MSC-Electronic Services, P.O. Box 123, Annapolis Junction, Maryland 20701-0123. You also agree it is your responsibility to examine each statement and report any irregularities to Tower within sixty (60) days after receiving the e-mail alerting you that the statement is available.

Fees. We will charge you the following amounts for each transfer you make using the Funds Transfer service:

Incoming transfer to Tower account (3 days)        Free
Incoming transfer to Tower account (next day)     $5
Outgoing transfer from Tower account (3 days)     $3
Outgoing transfer from Tower account (next day)  $5

There are no fees to cancel a pending transfer request (as long as such cancellation is made within the time period permitted by the Funds Transfer service cancellation policies). In all cases, limits and conditions placed on account transactions by Tower, according to the Fee Schedule, apply to transfers made using Funds Transfer. The cost of each transfer will automatically be debited from the Tower account that you are using to transfer money to/from an external account.

Limitations on Transactions. The daily transfer limit for transfers made using the Funds Transfer service is $2,000, which is a combined limit for inbound and outbound transfers. The total monthly transfer limit is $5,000, which is based on a rolling 30-day period. The minimum transfer amount for any Funds Transfer is $10.

Prohibited Transfers. Transfers to accounts outside of the United States or its territories are prohibited through the Funds Transfer service.

Charging your Payment Account; Available Balances to Make Transactions. You authorize us to charge the Tower account used to perform the Funds Transfer for each transaction you request and you agree to have sufficient funds available in that account for this purpose. If any Funds Transfer transaction you request, including applicable fees, exceeds the balance of available collected funds in the account selected to perform the Funds Transfer, we need not make such transaction and shall incur no liability to you for such inaction.

Cancellation of Service. Funds Transfer may be cancelled at anytime you wish. You may cancel your Funds Transfer account by clicking on 'unsubscribe' from the Edit Profile page in Funds Transfer or by sending Tower an e-mail through E-mail Manager in Home Banking at towerfcu.org. You may fax or mail your written request to close your Funds Transfer account or you may visit any branch location. The fax number is 301-497-8930. Any written requests must be mailed to: Tower Federal Credit Union, Attn: MSC ­ Electronic Services, P.O. Box 123, Annapolis Junction, Maryland 20701-0123.

Cross Member Transfer Agreement and Disclosures
Cross Member Transfer service allows you to use your online Home Banking or Tower Talk 24 telephone service to transfer money from your account to the accounts of other Tower Federal Credit Union members. This is a one-way transfer and you cannot transfer funds from another member's account back to your account. Only main or primary members 18 years old or older may authorize Cross Member Transfers using Tower's Electronic Cross Member Transfer Authorization Form. Members under the age of 18 are required to complete a paper authorization form with an adult joint owner's signature.

When activated, the accounts you have registered will appear in the drop-down box within the account transfer option in Home Banking. You do not need a new PIN/password for Home Banking Cross Member Transfer.

When you complete a Cross Member Transfer, you cannot reverse it, even if you have made an error in the amount or the account to which you made the transfer.

Circumstances in Which Information Will Be Disclosed to Third Parties. If you transfer funds from your accounts to the accounts of other members via Cross Member Transfer in Home Banking or Tower Talk 24, Tower will disclose the following information to the account holder(s) to whom you make the transfer: your account number, suffix, and the transfer amount.

You authorize Tower Federal Credit Union to transfer sums of money as designated from your account to the account numbers listed on the Cross Member Transfer Authorization form when requested through online Home Banking or Tower Talk 24 service. When you authorize Cross Member Transfer in Home Banking, you automatically authorize Tower Talk 24 Cross Member Transfer. Tower's Home Banking and Tower Talk 24 agreements apply to Cross Member Transfers.
 
 
Bill Payment Service Agreement and Disclosures
Checkfree Terms and Conditions of the Bill Payment Service
The Bill Payment Service is provided through Tower’s Home Banking product by CheckFree Corporation. Checkfree requires acceptance of the following terms and conditions which have been incorporated into Tower’s Member Account Agreements.

Service Definitions

“Service” means the Bill Payment Service offered by Tower Federal Credit Union, through CheckFree Services Corporation.

“Agreement” means these Terms and Conditions of the Bill Payment Service.

“Payee” is the person or entity to which you wish a bill payment to be directed or is the person or entity from which you receive electronic bills, as the case may be.

“Payment Instruction” is the information provided by you to the Service for a bill payment to be made to the Payee (such as, but not limited to, Payee name, Payee account number, and Payment Due Date).

“Payment Account” is the checking account from which bill payments will be debited.

“Billing Account” is the checking account from which all Service fees will be automatically debited.

“Bill Payment Month” is the period of time starting with the first calendar day of the previous month to the last calendar day of that same month.

“Business Day” is every Monday through Friday, excluding Federal Reserve holidays.

“Payment Due Date” is the Business Day your Payment Account will be debited and is also the day the payment will arrive at the payee, unless the Payment Due Date falls on a non-Business Day in which case it will be considered to be the previous Business Day.

“Due Date” is the date reflected on your Payee statement for which the payment is due. It is not the late date or grace period.

“Scheduled Payment” is a payment that has been scheduled through the Service but has not begun processing.

Payment Scheduling. Transactions begin processing four (4) business days prior to the Payment Due Date you entered in Bill Payment and will arrive approximately on the Due Date.

The Service Guarantee. Due to circumstances beyond the control of the Service, particularly delays in handling and posting payments by Payees or financial institutions, some transactions may take longer to be credited to your account. The Service will bear responsibility for any late payment related charges up to $50 should a payment post after its Due Date as long as the payment was scheduled in accordance with the guidelines described under "Payment Scheduling" in this Agreement.

Payment Authorization and Payment Remittance. By providing the Service with names and account information of Payees to whom you wish to direct payments, you authorize the Service to follow the Payment Instructions that it receives through the payment system. In order to process payments more efficiently and effectively, the Service may edit or alter payment data or data formats in accordance with Payee directives.

When the Service receives a Payment Instruction, you authorize the Service to debit your Payment Account and remit funds on your behalf so that the funds arrive as soon as reasonably possible after the Payment Due Date designated by you. You also authorize the Service to credit your Payment Account for payments returned to the Service by the Post Office or Payee, or payments remitted to you on behalf of another authorized user of the Service.

The Service will use its best efforts to make all your payments properly. However, the Service shall incur no liability and any Service Guarantee shall be void if the Service is unable to complete any payments initiated by you because of the existence of any one or more of the following circumstances:

1. If, through no fault of the Service, your Payment Account does not contain sufficient funds to complete the transaction or the transaction would exceed the credit limit of your overdraft account;
2. The payment processing center is not working properly and you know or have been advised by the Service about the malfunction before you execute the transaction;
3. You have not provided the Service with the correct Payment Account information, or the correct name, address, phone number, or account information for the Payee; and/or
4. Circumstances beyond control of the Service (such as, but not limited to, fire, flood, or interference from an outside force) prevent the proper execution of the transaction and the Service has taken reasonable precautions to avoid those circumstances.

Provided none of the foregoing exceptions are applicable, if the Service causes an incorrect amount of funds to be removed from your Payment Account or causes funds from your Payment Account to be directed to a Payee which does not comply with your Payment Instructions, the Service shall be responsible for returning the improperly transferred funds to your Payment Account, and for directing to the proper Payee any previously misdirected transactions, and, if applicable, for any late payment related charges.

Payment Methods. The Service reserves the right to select the method in which to remit funds on your behalf to your Payee. These payment methods may include, but may not be limited to, an electronic payment, an electronic to check payment, or a laser draft payment.

Payment Cancellation Requests. You may cancel or edit any Scheduled Payment (including recurring payments) by following the directions within the application. There is no charge for canceling or editing a Scheduled Payment. Once the Service has begun processing a payment it cannot be canceled or edited; therefore, a stop payment request must be submitted.

Stop Payment Requests. The Service's ability to process a stop payment request will depend on the payment method and whether or not a check has cleared. The Service may also not have a reasonable opportunity to act on any stop payment request after a payment has been processed. If you desire to stop any payment that has already been processed, you must contact Customer Service. Although the Service will make every effort to accommodate your request, the Service will have no liability for failing to do so. The Service may also require you to present your request in writing within fourteen (14) days. The charge for each stop payment request will be the current charge for such service as set out in the applicable fee schedule.

Prohibited Payments. Payments to Payees outside of the United States or its territories are prohibited through the Service.

Exception Payments. Tax payments and court ordered payments may be scheduled through the Service; however, such payments are discouraged and must be scheduled at your own risk. In no event shall the Service be liable for any claims or damages resulting from your scheduling of these types of payments. The Service Guarantee as it applies to any late payment related changes is void when these types of payments are scheduled and/or processed by the Service. The Service has no obligation to research or resolve any claim resulting from an exception payment. All research and resolution for any misapplied, mis-posted, or misdirected payments will be the sole responsibility of you and not of the Service.

Bill Delivery and Presentment. This feature is for the presentment of electronic bills only and it is your sole responsibility to contact your Payees directly if you do not receive your statements. In addition, if you elect to activate one of the Service's electronic bill options, you also agree to the following:

Information provided to the Payee—The Service is unable to update or change your personal information such as, but not limited to, name, address, phone numbers, and e-mail addresses with the electronic Payee. Any changes will need to be made by contacting the Payee directly. Additionally it is your responsibility to maintain all user names and passwords for all electronic Payee sites. You also agree not to use someone else's information to gain unauthorized access to another person's bill.

Activation—Upon activation of the electronic bill feature the Service may notify the Payee of your request to receive electronic billing information. The presentment of your first electronic bill may vary from Payee to Payee and may take up to sixty (60) days, depending on the billing cycle of each Payee. Additionally, the ability to receive a paper copy of your statement(s) is at the sole discretion of the Payee. While your electronic bill feature is being activated it is your responsibility to keep your accounts current. Each electronic Payee reserves the right to accept or deny your request to receive electronic bills.

Notification—The Service will use its best efforts to present all of your electronic bills promptly. In addition to notification within the Service, the Service may send an e-mail notification to the e-mail address listed for your account. It is your sole responsibility to ensure that this information is accurate. In the event you do not receive notification, it is your responsibility to periodically login to the Service and check on the delivery of new electronic bills. The time for notification may vary from Payee to Payee. You are responsible for ensuring timely payment of all bills.

Cancellation of electronic bill notification—The electronic Payee reserves the right to cancel the presentment of electronic bills at any time. You may cancel electronic bill presentment at any time. The timeframe for cancellation of your electronic bill presentment may vary from Payee to Payee. It may take up to sixty (60) days, depending on the billing cycle of each Payee. The Service will notify your electronic Payee(s) as to the change in status of your account and it is your sole responsibility to make arrangements for an alternative form of bill delivery. The Service will not be responsible for presenting any electronic bills that are already in process at the time of cancellation.

Non-Delivery of electronic bill(s)—You agree to hold the Service harmless should the Payee fail to deliver your statement(s). You are responsible for ensuring timely payment of all bills. Copies of previously delivered bills must be requested from the Payee directly.

Accuracy and dispute of electronic bill—The Service is not responsible for the accuracy of your electronic bill(s). The Service is only responsible for presenting the information we receive from the Payee. Any discrepancies or disputes regarding the accuracy of your electronic bill summary or detail must be addressed with the Payee directly.

This Agreement does not alter your liability or obligations that currently exist between you and your Payees.

Exclusions of Warranties. THE SERVICE AND RELATED DOCUMENTATION ARE PROVIDED “AS IS” WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

Password and Security. You agree not to give or make available your password or other means to access your account to any unauthorized individuals. You are responsible for all payments you authorize using the Service. If you permit other persons to use the Service or your password or other means to access your account, you are responsible for any transactions they authorize. If you believe that your password or other means to access your account has been lost or stolen or that someone may attempt to use the Service without your consent or has transferred money without your permission, you must notify the Service at once by calling 301-497-7000 or 800-787-8328 during customer service hours.

Your Liability for Unauthorized Transfers. If you tell us within two (2) Business Days after you discover your password or other means to access your account has been lost or stolen, your liability is no more than $50 should someone access your account without your permission. If you do not tell us within two (2) Business Days after you learn of such loss or theft, and we can prove that we could have prevented the unauthorized use of your password or other means to access your account if you had told us, you could be liable for as much as $500. If your monthly financial institution statement contains transfers that you did not authorize, you must tell us at once. If you do not tell us within sixty (60) days after the statement was sent to you, you may lose any amount transferred without your authorization after the sixty (60) days if we can prove that we could have stopped someone from taking the money had you told us in time. If a good reason (such as a long trip or a hospital stay) prevented you from telling us, we may extend the period.

Errors and Questions: In case of errors or questions about your transactions, you should as soon as possible notify us via one of the following:

1. Telephone us at 301-497-7000 or 800-787-8328 during customer service hours;
2. Contact us by using the application’s e-messaging feature; and/or
3. Write us at:
   Tower Federal Credit Union
   Attention: EFT Claims
   P.O. Box 123
   Annapolis Junction, MD 20701-0123

If you think your statement is incorrect or you need more information about a Service transaction listed on the statement, we must hear from you no later than sixty (60) days after the FIRST statement was sent to you on which the problem or error appears. You must:

1. Tell us your name and Service account number;
2. Describe the error or the transaction in question, and explain as clearly as possible why you believe it is an error or why you need more information; and
3. Tell us the dollar amount of the suspected error.

If you tell us verbally, we may require that you send your complaint in writing within ten (10) Business Days after your verbal notification. 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. However, if we require more time to confirm the nature of your complaint or question, we reserve the right to take up to forty-five (45) days to complete our investigation. If we decide to do this, we will provisionally credit your Payment Account within ten (10) Business Days for the amount you think is in error. If we ask you to submit your complaint or question in writing and we do not receive it within ten (10) Business Days, we may not provisionally credit your Payment Account. If it is determined there was no error we will mail you a written explanation within three (3) Business Days after completion of our investigation. You may ask for copies of documents used in our investigation. The Service may revoke any provisional credit provided to you if we find an error did not occur.

Disclosure of Account Information to Third Parties. It is our general policy to treat your account information as confidential. However, we will disclose information to third parties about your account or the transactions you make ONLY in the following situations:

1. Where it is necessary for completing transactions;
2. Where it is necessary for activating additional services;
3. In order to verify the existence and condition of your account to a third party, such as a credit bureau or Payee;
4. To a consumer reporting agency for research purposes only;
5. In order to comply with a governmental agency or court orders; or
6. If you give us your written permission.

Service Fees and Additional Charges. Any applicable fees will be charged regardless of whether the Service was used during the billing cycle. There may be a charge for additional transactions and other optional services. You agree to pay such charges and authorize the Service to deduct the calculated amount from your designated Billing Account for these amounts and any additional charges that may be incurred by you. Any financial fees associated with your standard deposit accounts will continue to apply. You are responsible for any and all telephone access fees and/or Internet service fees that may be assessed by your telephone and/or internet service provider.

Failed or Returned Transactions. In using the Service, you are requesting the Service 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 (for example, there are insufficient funds in your Payment Account to cover the transaction), the transaction will not be completed. In some instances, you will receive a return notice from the Service. In such case, you agree that:

1. You will reimburse the Service immediately upon demand the transaction amount that has been returned to the Service;
2. For any amount not reimbursed to the Service within fifteen (15) days of the initial notification, a late charge equal to 1.5% monthly interest or the legal maximum, whichever rate is lower, for any unpaid amounts may be imposed;
3. You will reimburse the Service for any fees imposed by your financial institution as a result of the return;
4. You will reimburse the Service for any fees it incurs in attempting to collect the amount of the return from you; and
5. The Service is authorized to report the facts concerning the return to any credit reporting agency.

Alterations and Amendments. This Agreement, applicable fees and service charges may be altered or amended by the Service from time to time. In such event, the Service shall provide notice to you. Any use of the Service after the Service provides you a notice of change will constitute your agreement to such change(s). Further, the Service may, from time to time, revise or update the applications, services, and/or related material, which may render all such prior versions obsolete. Consequently, the Service reserves the right to terminate this Agreement as to all such prior versions of the applications, services, and/or related material and limit access to only the Service's more recent revisions and updates.

Address or Banking Changes. It is your sole responsibility to ensure that the contact information in your user profile is current and accurate. This includes, but is not limited to, name, address, phone numbers, and e-mail addresses. Changes can be made either within the application or by contacting Customer Service. Any changes in your Payment Account should also be made in accordance with the procedures outlined within the application's Help files. All changes made are effective immediately for scheduled and future payments paid from the updated Payment Account information. The Service is not responsible for any payment processing errors or fees incurred if you do not provide accurate Payment Account or contact information.

Service Termination, Cancellation, or Suspension. In the event you wish to cancel the Service, you may have the ability to do so through the product, or you may contact customer service via one of the following:

1. Telephone us at 301-497-7000 or 800-787-8328 during customer service hours; or
2. E-mail us through E-mail Manager in Home Banking at towerfcu.org; or
3. Write us at:
   Tower Federal Credit Union
   Attention: MSC – Electronic Services
   P.O. Box 123
   Annapolis Junction, MD 20701-0123

Any payment(s) the Service has already processed before the requested cancellation date will be completed by the Service. All Scheduled Payments including recurring payments will not be processed once the Service is canceled. The Service may terminate or suspend Service to you at any time. Neither termination nor suspension shall affect your liability or obligations under this Agreement.

Payee Limitation. The Service reserves the right to refuse to pay any Payee to whom you may direct a payment. The Service will notify you promptly if it decides to refuse to pay a Payee designated by you. This notification is not required if you attempt to make a prohibited payment or an exception payment under this Agreement.

Returned Payments. In using the Service, you understand that Payees and/or the United States Post Office may return payments to the Service for various reasons such as, but not limited to: Payee's forwarding address expired; Payee account number is not valid; Payee is unable to locate account; or Payee account is paid in full. The Service will use its best efforts to research and correct the returned payment and return it to your Payee, or void the payment and credit your Payment Account. You may receive notification from the Service.

Information Authorization. Your enrollment in the Service may not be fulfilled if the Service cannot verify your identity or other necessary information. Through your enrollment in the Service, you agree that the Service reserves the right to request a review of your credit rating at its own expense through an authorized bureau. In addition, you agree that the Service reserves the right to obtain financial information regarding your account from a Payee or your financial institution (for example, to resolve payment posting problems or for verification).

Disputes. In the event of a dispute regarding the Service, you and the Service agree to resolve the dispute by looking to this Agreement. You agree that this Agreement is the complete and exclusive statement of the agreement between you and the Service which supersedes any proposal or prior agreement, oral or written, and any other communications between you and the Service relating to the subject matter of this Agreement. If there is a conflict between what an employee of the Service or Customer Service Department says and the terms of this Agreement, the terms of this Agreement will prevail.

Assignment. You may not assign this Agreement to any other party. The Service may assign this Agreement to any future, directly or indirectly, affiliated company. The Service may also assign or delegate certain of its rights and responsibilities under this Agreement to independent contractors or other third parties.

No Waiver. The Service shall not be deemed to have waived any of its rights or remedies hereunder unless such waiver is in writing and signed by the Service. No delay or omission on the part of the Service 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 of this Agreement.

Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Georgia, without regard to its conflicts of laws provisions.

THE FOREGOING SHALL CONSTITUTE THE SERVICE’S ENTIRE LIABILITY AND YOUR EXCLUSIVE REMEDY. IN NO EVENT SHALL THE SERVICE 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 SERVICE.
 
Tower Bill Payment Service Agreement and Disclosures
This Bill Payment Service Agreement and Disclosures ("Agreement") contains important terms and information for the Bill Payment Service offered by Tower Federal Credit Union through CheckFree Services Corporation. Other terms and conditions are contained in the Terms and Conditions of the Bill Payment Service. The terms "you" and "your" refer to the person completing registration for the Service who must be the primary owner of the Payment Account. The terms "we", "us", "our", "Tower Federal" and "Credit Union" refer to Tower Federal Credit Union. "Electronic Address" means the electronic mail address you give us at registration. You may change your Electronic Address by giving us notice pursuant to this Agreement. Other capitalized terms are defined in the Terms and Conditions of the Bill Payment Service.

Application. To apply for the Service, you must follow the procedures to register and the person completing the registration must be the primary owner of the Payment Account.

Security and Data Recording. The Password is a "security procedure". You agree that this security procedure is commercially reasonable and is designed to authenticate your transactions. You agree that you will not disclose your Password to anyone, even to a joint owner of your Payment Account. When you access the Service, your instructions may be recorded. You consent to such recording.

Limitations on Transactions. You may pay bills from your Payment Account from $1 up to $99,999.99 (or the available balance if less) per bill payment you process. Security concerns may lead to other limits on the number or dollar amount of transactions you may make from time to time.

Processing Bill Payments. Payments may be made by laser check or draft or electronically at the discretion of the Service. When you have more than one bill payment due to be initiated on a single day, the Service has the right to process them in any order the Service chooses.

Charging Your Payment Account; Available Balances to Make Transactions. You authorize us to charge the Payment Account for each transaction you request and you agree to have sufficient available collected funds available in the Payment Account for this purpose. If any transaction you request exceeds the balance of available collected funds in the Payment Account either on the Payment Due Date or at any later time that your Payment Account is scheduled to be debited, we need not make such transaction and shall incur no liability to you for such inaction.

Periodic Statements. You will get a monthly statement for the Payment Account if it has a transaction that month. In any event, you will get a statement at least quarterly.

Notice. Unless otherwise provided in this Agreement, any notice, request, or other communication you are required or permitted to give under this Agreement shall be in writing (which includes e-mail) and sent by certified or registered United States mail, return receipt requested, postage prepaid, to Tower Federal Credit Union, Attention: MSC - Electronic Services, P.O. Box 123, Annapolis Junction, Maryland 20701-0123, or you may e-mail us by using the application's e-messaging feature. Such notices shall be effective when we receive them.

At our discretion we may give notice to you by mail or by e-mail to your Electronic Address as shown in our records. We may give notice of changes in terms or we may revise the terms and conditions in this Agreement and make it available in our branches. Any notice that is mailed is considered given forty-eight (48) hours after we place it in the mail, postage-paid, for delivery to your address as shown on our records. Any notice delivered electronically is considered given twenty-four (24) hours after it is transmitted to your Electronic Address as shown in our records. If a specific notice period or type of notice is required by applicable law, the notice will be binding in accordance with such law.

Limitation of Liability. We provide the Service and related documentation "as is" without any warranty of any kind, either expressed or implied, including, but not limited to, the implied warranties of merchantability and fitness for a particular purpose.

Agreement to Transact Business and Receive Disclosures by Electronic Means. The nature of the Service requires all transactions to be conducted via the Internet and/or the World Wide Web.

By clicking to mark the "I accept" box at the time of your first login, you agree that your Payment Account and its use in connection with the Service will be conducted by electronic means, that we may provide this Agreement, amendments, periodic statements and other communications regarding the Service electronically in a format that allows visual text to be displayed on your personal computer or other electronic equipment, and that the initial disclosures, periodic statements and change-in-terms notices required by Regulation E of the Electronic Funds Transfer Act may be sent to you electronically. Unless this Agreement provides otherwise, all documents delivered electronically will be effective when we transmit them to your Electronic Address as shown in our records unless we state a later effective date. We will mail you the most recent version of this disclosure upon your written request for no charge. Your consent to electronic delivery of disclosures applies only to the Service.

You can send us messages electronically via the application's e-messaging feature. Generally, electronic messages sent and received via the application's e-messaging feature are secure, assuming you have logged on to the Service correctly and your Internet browser shows that a secured connection has been established.

You may withdraw your consent to electronic delivery of disclosures by sending us a message electronically via the application's e-messaging feature. Otherwise, you may withdraw your consent to electronic delivery of disclosures by sending us notice as described above in the Notice Section.

Communications sent over the public Internet are not always secure. Accordingly, we strongly suggest that you do not send confidential information concerning the Service unless using the application's e-messaging feature. You agree that we may respond to any electronic message that you send to us via the application's e-messaging feature or Internet e-mail and that we may include in our response to you confidential information. However, we reserve the right not to respond to questions that you send via Internet e-mail and, instead, to respond to you in another manner.

You may update the information we need to contact you electronically by sending us an e-mail as described above. Otherwise, send us notice of the updated information as described above in the Notice Section.

Fees. The Service will be free if you setup three or more bill payments that process within a calendar month, otherwise you agree to pay $2.95 per Bill Payment Month. The Bill Payment Month is the period of time starting with the first calendar day of the previous month to the last calendar day of that same month. You agree to pay $25 for each bill payment you stop. You agree to pay $20 each time there are not sufficient funds to cover the transaction in your Payment Account. Fees will automatically be deducted from your Payment Account.

Cancellation of Service. Bill Payment may be canceled anytime you wish. You may fax or mail your written request to close your Bill Payment account or you may visit any branch location. The fax number is 301-497-8930. Any written requests must be mailed to: Tower Federal Credit Union, Attention: MSC ­ Electronic Services, P.O. Box 123, Annapolis Junction, Maryland 20701-0123, or you may e-mail us by using E-mail Manager in Home Banking at towerfcu.org. Such notices shall be effective when we receive them. When you cancel Bill Payment service, all of your pending payments will be canceled as well.
 
ATM and Debit Card Agreement
In this Agreement, the words, "you" and "your" mean each person who applied for an ATM or debit card and each person to whom an ATM or debit card is issued, jointly and severally. The words "Credit Union" and "Tower" mean Tower Federal Credit Union. The words "account" and "accounts" refer to your Prime Share (Savings), and Regular Checking with Tower only. "Card" refers to an access device issued to you by Tower which permits you to conduct transactions at automated teller machines ("ATMs") owned and operated by Tower and at ATMs and point-of-sale ("POS") terminals (if applicable) which are part of a network which accepts our card. The term includes ATM cards (which bear the Credit Union's logo, but not the MasterCard logo). "POS terminal" refers to electronic point-of-sale terminals which are part of a network which accepts your card to pay for purchases and obtain cash back/cash advances (where available) from your checking account. In the case of debit cards, POS terminals include those merchants and financial institutions which accept MasterCard debit cards to conduct transactions. "Network ATMs" refer to the various ATM financial networks in which Tower participates. "PIN" means the Personal Identification Number assigned to you by the Credit Union. "Transaction" means an electronic funds transaction.

This Agreement defines your responsibilities and the Credit Union's responsibilities with respect to electronic funds transactions performed through ATMs and POS terminals. It is understood that the Agreements and rules and regulations applicable to your accounts remain in effect and continue to be applicable, except as specifically modified by this Agreement. By signing an application for any card to perform transactions or using the card to conduct transactions, you agree to the terms of this Agreement.

Minimum Age Requirement for ATM Card. Individual account holders must be at least 18 years of age. If under age 18, but no younger than 16, an adult (who will be responsible for all ATM transactions) must sign as a joint account owner.

Minimum Age Requirement for Debit Card. Individual account holders must be at least 18 years of age. If under age 18, but no younger than 16, an adult (who will be responsible for all debit card transactions) must sign as a joint account owner.

Obtaining Information. The Credit Union may obtain credit bureau or similar reports in considering applications for accounts or other services as permitted by the Fair Credit Reporting Act.

Overdraft Line of Credit. If you participate in the EZLine Line of Credit service, the Credit Union generally will advance to the Checking account funds to cover checks exceeding the Checking account balance. The EZLine Line of Credit is a revolving line of credit; advances repaid are available to be used again. The Credit Union is not obligated to make any loan advances to the Checking account if the outstanding overdraft balance exceeds the established credit limit or as otherwise provided in the agreement governing the EZLine Line of Credit Service. In this case, you are responsible for immediate repayment of the withdrawal item if the Credit Union honors it in its sole discretion.

Advances and payments will be recorded on the monthly account statement.

Card Use. Your card allows transactions to be made on your account. The Credit Union may, without liability or advance notice, revoke or limit all cards issued under this Agreement. Upon demand, you will surrender the card promptly to the Credit Union. The debit card allows you to access the available funds in your account, within the daily limits described below, to purchase goods and services and to receive cash advances from your accounts. The debit card is NOT a credit card.

Making Transactions. The presentation of your card, and, if required, the input of your PIN constitutes authorization to the Credit Union to make transactions. You agree to follow the instructions posted for use of the ATMs and POS terminals accessible by your card. These instructions will be considered part of the Agreement. You agree not to make transactions that would overdraw any account. If, by mistake, you are permitted to make a transaction that you should not have been allowed to make, we may charge the amount involved to an account or otherwise hold you liable. When a PIN is required, you cannot make transactions without the entry of your correct PIN. Entries of an incorrect PIN may result in your card being retained by an ATM.

Foreign Transactions. If you effect a transaction with your MasterCard debit card outside the US, whether or not it is in US Dollars, a fee of up to 1% will be assessed by MasterCard International (MCI). If the transaction is in a currency other than US Dollars, MasterCard International will use its current currency conversion procedures which have been disclosed to all financial institutions that issue MasterCard debit cards. The conversion rate used by MCI may vary from the rate on the original purchase date and the date the transaction is processed. The fee will be shown on your periodic statement.

Transactions Prohibited. 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 illegal gambling transaction, including, but not limited to online gambling. Also, you agree that you will not use your card for any transaction that is illegal under applicable federal, state, or local law.

Safeguarding Your Card and PIN. You will hold, in strict confidence, your PIN. You should not write your PIN on your card, the card carrier, or any paper carried with the card. This invites misuse of your card if it is lost or stolen. You should keep a written record of your PIN in a separate location from the card, with no identification as to what the number is. You should protect your card and PIN as if they were cash, credit cards, or checks because it is the key with which someone can access your accounts. Safeguarding your card is especially important for debit cards since the PIN is NOT required for its use at businesses which honor MasterCard debit cards.

Loss or Theft. You will notify Tower immediately of loss or theft of the card and/or PIN. If you recover your card after having notified the Credit Union, you will not use the card. Also, you will not use your PIN after having notified the Credit Union of its loss or theft.

Verification. Receipts issued by any ATM or POS terminal are binding on Tower only after verification of the transaction by Tower.

Liability. The Credit Union will not be liable for failure to honor a card due to improper use or retrieval of the card by an ATM or POS terminal. You should not use a cracked or broken card in an ATM or POS terminal. And you will contact Tower for a replacement card, if your card cracks or breaks. The Credit Union will not be liable for failure of a business to honor a card.

Responsibility. You are responsible for all transactions made on your accounts with your card by anyone, including unauthorized transactions, subject to the limitations of applicable law. Legal limitations on your liability for unauthorized transactions are summarized below in the “Electronic Funds Transfer Disclosures” section.

Deposits. All deposits will be credited to your accounts provisionally subject to verification by Tower. Funds from deposits may be available for withdrawal under certain conditions. (Refer to Tower’s rules governing deposits and funds availability for details.) You agree that the Credit Union’s verification of deposits will be final.

Card Use and Effect on Available Balances. Generally, use of your card at ATMs and POS terminals results in a simultaneous debit of the transaction amount from your account. If you have a debit card and use it at a POS terminal in a manner that is processed as a MasterCard transaction (that is, when no entry of your PIN needed), the authorization to proceed with the transaction that the business receives will result in a simultaneous freeze until the earlier of the actual debit of the funds or three (3) days after authorization. During the freeze, this means that the funds will NOT be available for use, for example, to pay any checks you write. Please keep track of your card use and the effect on your available balance to avoid overdrafts or items being returned unpaid due to insufficient funds, and the fees associated with these types of account problems.

System Malfunction. You will not attempt to make a transaction when an ATM or POS terminal informs you (or other circumstances give you reason to believe) that the system is closed or is not functioning properly due to technical malfunction or lack of cash or is unable to initiate the desired transaction.

Joint Account Owner(s). To qualify, owners must be joint on both the primary owner’s Prime Share (Savings) and Regular Checking accounts. You agree to hold the Credit Union harmless for any and all transactions by any cardholder authorized on your account. You accept responsibility for all withdrawals made by an authorized cardholder less than 18 years of age.

Termination and Amendment. The Credit Union may at any time terminate your right to make transactions or cancel this Agreement. The Credit Union may give notice of termination but is not obligated to do so. Your card and PIN may not be used after having been terminated. You may terminate or cancel your card by giving the Credit Union written notice. Your written notice of termination will become effective no later than the end of the first business day following the Credit Union's receipt of notice. Termination will not affect any liability incurred by you prior to termination. The Credit Union may change this Agreement at any time by mailing a copy of the changes to your current account statement address. Unless the Credit Union is required to give you advance notice by law, changes are effective on the date changes are mailed.

Use of your card after the effective date of the change will acknowledge your acceptance of that change.

Collection Expenses. If the Credit Union has to file a lawsuit to collect what is owed by you, you will pay any reasonable expenses incurred by the Credit Union, including, but not limited to, outside collection agency fees and attorneys’ fees.

Agreement Controls. Both you and the Credit Union will be bound by this Agreement. If there is a conflict between the Agreement and something said by the Credit Union’s employees, you agree that this Agreement controls. This Agreement is governed by the internal laws of Maryland and federal law.

EFT Disclosures  
These disclosures are required by federal law and are part of the Home Banking, the Bill Payment, the Tower Talk 24, and the ATM and Debit Card Agreement between the Credit Union and you.

Member Liability. You are responsible for all transactions you authorize using your EFT services under this Agreement. 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. However, TELL US AT ONCE if you believe your card and/or access code has been lost or stolen or if you believe someone has used your card or access code or otherwise accessed your accounts without your permission 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).

You are not liable for an unauthorized MasterCard debit card transaction that was not conducted at an ATM if, you can demonstrate that you exercised reasonable care in protecting your card from loss or theft, you have not reported two or more incidents of unauthorized use in the past twelve (12) months, and your account is in good standing. Otherwise your liability for an unauthorized MasterCard debit card transaction that was not conducted at an ATM will be no more than $50.

For all other EFT transactions involving access devices, including transactions conducted at ATMs, your liability for unauthorized transactions 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 or code 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 or code, and we can prove that we could have stopped someone from using your card or code 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 sixty (60) days after the statement was mailed 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 long trip or 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 or if you believe a transfer has been made using the information from your check without your permission, call 301-497-7000 or 800-787-8328 or visit a Credit Union branch. Also, you may write to us at the address listed below under “In Case of Errors or Questions about Electronic Transfers.”

Available Tower Talk 24 and Home Banking Transactions and Limits on Transactions. Your PIN/password and member number may be used with Tower Talk 24, the Home Banking service, and the Bill Payment service to perform transactions on your account. In all cases, your ability to make transactions between your accounts is subject to the available collected funds in the account.

Tower, in accordance with Federal Reserve Board Regulation D, permits a total of only six (6) telephone and personal computer or preauthorized transfers (which includes automatic transfers to cover check overdrafts) per month from any type of savings account to any other account.

Available ATM or Debit Card Transactions and Limits on Transactions. Your card and PIN (when required) may be used to:

• Withdraw cash from your accounts at ATMs;
• Transfer funds between your accounts at ATMs;
• Make deposits to your accounts on any ATM owned and operated by the Credit Union;
• Make balance inquiries into your accounts; and
• Pay for purchases from your checking account at places that have agreed to accept the card. As part of the purchase, you may be able to get cash back depending on the policies of the seller of the goods or services.
• For debit cards only, your card and PIN may be used to obtain cash advances from your checking account at financial institutions that are participating MasterCard debit card institutions.

Some of these services may not be available at all terminals or on all cards.

ATM access to Request Checking accounts is limited to ATMs owned and operated by the Credit Union.

You may make any number of transactions between your accounts or from your accounts provided that the available collected funds and limitations on the dollar amounts of transactions are not exceeded. There are limitations on the dollar amount of transactions that you may make with your card per processing cycle (approximately daily).

Debit Card. For cash withdrawals at ATMs, the daily limit is $500 per card. For all other debit card uses (payment for purchases, including any cash back and non-ATM cash advances at financial institutions), the aggregate daily limit is $2,500 per card.

For 16 and 17 year olds, there is a $300 aggregate daily limit per card. The limit can increase at age 18 if the member reapplies.

ATM Card. For cash withdrawals at ATMs, the daily limit is $500 per card. For POS terminal purchases, including cash back at POS terminals (if available), the daily limit is $500 per card. For 16 and 17 year olds, there is a $300 daily limit per card for both cash withdrawals at ATMs and POS terminal purchases. The limit can increase at age 18 if the member reapplies.

Fees. Transactions may be made at no charge at any ATM owned and operated by the Credit Union. If you make a transaction at an ATM or POS terminal, you will be charged a fee in accordance with the Credit Union’s Fee Schedule. In addition, the owner/operator, and/or any national, regional, or local network used to effect a transaction may impose additional fees if you initiate the transaction from an ATM owned by someone other than the Credit Union. If a transaction overdrafts any of your Tower accounts, you are subject to an overdrawn fee. If you lose your card and/or PIN you will be charged a replacement fee in accordance with the Credit Union’s Fee Schedule.

Circumstances in Which Information Will Be Disclosed to Third Parties. The Credit Union will disclose information to third parties about your account or transactions made by you:

• When it is necessary for completing transactions;
• To verify the existence and condition of your Account for a third party, such as a credit bureau or merchant;
• In the course of making reports or returns required by federal or state law, to comply with any government agency, court order, or applicable law and to our supervisory agency;
• As permitted by Maryland law, including the Maryland Confidential Financial Records Act;
• As permitted by federal law, including the Right to Financial Privacy Act and the Fair Credit Reporting Act;
• As described in the Privacy Notice we give you from time to time;
• To our affiliates; and
• When you authorize us to do so.

Summary of Right to Receive Documentation of Transactions. You will receive a monthly account statement unless there are no transactions in a particular month. In any event, you will receive a statement at least quarterly.

ATM and POS Terminal Receipts. You can receive a receipt for each transaction to or from your account that is made at an ATM. You can get a receipt for each purchase of goods or services from your account that was made at a POS terminal. You can get the receipts when the transactions are made.

Summary of Liability for Failure to Make Transactions. If the Credit Union does not complete a transaction to or from your account on time, or in the correct amount, according to your agreement with the Credit Union, the Credit Union will be liable for your losses or damages as provided in the Electronic Fund Transfer Act. However, there are some exceptions. The Credit Union will not be liable if:

• Through no fault of the Credit Union, you do not have sufficient funds in your account to make the transaction;
• The transaction would go over your credit limit on your overdraft or other line of credit;
• The ATM or POS terminal where you are making the transaction does not have sufficient cash;
• The ATM, POS terminal, Home Banking service, or TT24 system was not working properly and you knew of the breakdown when starting the transaction;
• Circumstances beyond the Credit Union’s control (such as fire or flood) prevent the transaction, despite reasonable precautions taken by the Credit Union;
• The funds are subject to legal process or other encumbrance restricting such transaction;
• The transaction would exceed one of the established limits contained in this Agreement; and/or
• The account is closed.

Electronic Check Conversion. When you provide a check as payment, you authorize us either to use information from your check to make a one-time electronic fund transfer from your account or to process the payment as a check transaction. When we use information from your check to make an electronic fund transfer, funds may be withdrawn from your account as soon as the same day you make your payment. We do not have to notify you if your account does not have funds to cover drafts, fees or other posted items. Whether the item is paid or returned, your account may be subject to a charge as set forth in the Fee Schedule.

Business Day Disclosure. The Credit Union’s business days are Monday through Friday. Holidays are not included. Automatic transfers that you request to take place on a specific date of each month will not occur on Tower non-business days which are Sundays and holidays. The transfer will take place on the next business day.
 
In Case of Errors or Questions about Electronic Transfers. You should e-mail the Credit Union, visit the Credit Union, telephone the Credit Union at 301-497-7000 or 800-787-8328, or write to the Credit Union at Tower Federal Credit Union, Attn: EFT Claims, P.O. Box 123, Annapolis Junction, Maryland 20701-0123, as soon as possible, if you believe a statement or receipt is wrong or if more information is needed about a transaction listed on a statement or receipt. The Credit Union must be notified no later than sixty (60) days after it sent the first statement on which the problem or error appeared. You must:

• Provide your name and account number;
• Describe the error or the transaction in question and explain why you believe it is an error or why more information is needed; and
• Provide the dollar amount of the suspected error.

If notified orally, the Credit Union may require that you send the complaint or questions in writing within ten (10) business days.

The Credit Union will notify you of the results of the investigation within ten (10) business days (or 20 business days for transactions involving a new account) after being notified by you and will correct any error promptly. If the Credit Union requires more time, however, it may take up to forty-five (45) days (or 90 days for any transactions: (i) conducted at POS terminals; (ii) initiated outside of the U.S., its territories or possessions, or Puerto Rico; or (iii) involving a new account) to investigate your complaint or question. If the Credit Union decides to do this, the Credit Union will apply provisional credit to your account within ten (10) business days (or 20 business days for transactions involving a new account) for the amount believed to be in error, so that you will have the use of the money during the time it takes the Credit Union to complete its investigation. If the Credit Union requires that your complaint or question be put in writing and it is not received within ten (10) business days (or 20 business days for transactions involving a new account), the Credit Union may not recredit your account. An account is considered a “new” account for thirty (30) days after the first deposit is made, if you are a new member.

The Credit Union will tell you the results within three (3) business days after completing its investigation. If the Credit Union decides that there was no error, the Credit Union will send you a written explanation. You may ask for copies of the documents that were used in the Credit Union’s investigation.

Use of ATMs and Deposit Facilities 
All members are advised that when using ATMs or other deposit facilities you should:

• Be aware of your surroundings, particularly during the hours of darkness;
• Be accompanied by another person during the hours of darkness;
• Refrain from displaying cash, place cash in a pocket as soon as the transaction is completed, and count cash in the safety of a locked enclosure such as a car or home;
• Use another ATM or facility or return at a later time if anything suspicious is noticed;
• Cancel a transaction, place the access device in a pocket, and leave if anything suspicious is noticed; and
• Immediately report all crimes to Tower or the operator of the ATM and to local law enforcement officials.

Preauthorized Deposits and Payments
Preauthorized Deposit Verification. If you have arranged to have direct deposits made to your account at least once every sixty (60) days from the same person or company, you may, or may not, receive proof of the payment from the person or company making the payment. If such person, or company, normally gives you notice of payment, you will not receive any other notice from the Credit Union. If the person, or company, does not give such notice, you can call the Credit Union at 301-497-7000 or 800-787-8328 in order to find out whether or not the deposit was made.

Stop Payment of Preauthorized Payments. You may stop preauthorized payments or transfers from your account to persons or companies other than the Credit Union. Payments to the Credit Union are governed by the terms of the automatic payment authorization form. If you have authorized the Credit Union, in advance, to make regular payments out of your account to other persons or companies, you can stop any of these payments. You will call the Credit Union at 301-497-7000 or 800-787-8328 or write Tower Federal Credit Union, Attn: ACH and Check Operations, P.O. Box 123, Annapolis Junction, Maryland 20701-0123 in time for the Credit Union to receive the request three (3) business days, or more, before the payment is scheduled to be made. That this request is effective for six (6) months only, whether given in writing or orally, unless renewed in writing before it expires, and that the debit will be paid (assuming that the account has sufficient funds) if presented on or after the date that the request expires. The Credit Union will assess a charge for each stop payment order placed by the member.

Notice of Varying Amount of Preauthorized Payments. If preauthorized payments to persons or companies vary in amount, the person or company you are going to pay should notify you ten (10) days before each payment as to when it will be scheduled and the amount. Instead you may choose, by notifying the payment recipient, to receive this notice only when the payment would differ by more than a certain amount from a previous payment, or when the amount would fall outside certain limits set by you.

Liability for Failure to Stop Payment of Preauthorized ACH Transfers. If you order the Credit Union to stop one of these payments three (3) business days, or more, before the transfer is scheduled, and the Credit Union does not do so, the Credit Union will be liable for your losses or damages as provided in the Electronic Funds Transfer Act.

Electronic Funds Transfer and Automated Clearing House (ACH) Transactions 
Under the operating rules applicable to automated clearing house ("ACH") transactions involving an account, the Credit Union is not required to give next day notice of receipt of an ACH item, and will not do so. The Credit Union may provide notice of the receipt of ACH and other electronic payments in periodic statements. If periodic statements are not provided for your account, the Credit Union is not obligated to provide notice of receipt of payments, unless otherwise required by law.

ACH operating rules provide that credit given for ACH credit entries is provisional until the Credit Union receives final settlement for the entry through a Federal Reserve Bank or otherwise receives final payment. If final payment is not received, the Credit Union is entitled to a refund of the amount credited to you in connection with the entry, and the party that originated the payment shall not be deemed to have made payment. You agree to be bound by these rules.

This Credit Union may make wire transfers of funds from your accounts as an accommodation to you, but is not obligated to do so. Any wire request received after 2:00 p.m. will not be processed until the following business day provided the funds are available at that time. Tower cannot guarantee that the receiving institution will actually receive and/or act upon wire transfers in a timely manner. Tower cannot guarantee special instructions will be followed by the receiving financial institution. Tower is authorized to debit your account for the amount of wire transfers and any fees and expenses incurred in connection with the execution of a request.

The Credit Union has established certain security procedures in connection with wire transfer transmissions. If you request a wire transfer in person, the Credit Union will confirm your identity by reference to your driver’s license, passport, or military ID. If you request wire transfers by telephone or online in the Credit Union’s Home Banking service, you must provide your PIN/password. Before performing wire transfers by telephone you will be required to establish, and use, a password of your choice before the wire transfer requests will be honored. Once you have established a password, it will be required as identification for all telephone transactions. Before performing wire transfers online using the Credit Union’s Home Banking service, the Credit Union will issue you an initial PIN/password to use when you access Tower Talk 24 for the first time. You will then be prompted to change your PIN. Your Tower Talk 24 PIN/Password will be your PIN/password for the Credit Union’s Home Banking service. You may change your Home Banking PIN/password to one of your own choosing at any time. The Credit Union will have no record of the PIN/password you select. You agree that all security procedures are commercially reasonable, are designed to authenticate wire transfers, are designed for the Credit Union’s protection, and are not used to detect errors in the transmission or content of a wire transfer.

The Credit Union will use any means and routes that the Credit Union, in its sole discretion, may consider suitable for the transmission of funds. Fedwire, the funds transfer system owned and operated by the Federal Reserve Banks, may be used to effect your wire transfers. Regulation J, including Subpart B which has adopted Article 4A of the Uniform Commercial Code, governs all funds transfers through Fedwire. Maryland law also applies to wire transfer requests.

Cancellations, revocations, and amendments to wire transfers shall not be accepted by the Credit Union. You will defend, indemnify, and hold the Credit Union harmless from and against any and all claims, demands, costs, expenses (including attorneys’ fees), loss, or damage arising out of the Credit Union’s acting or refusing to act upon your wire transfer requests.

The Credit Union will exercise reasonable and ordinary care in performing its obligations in connection with electronic funds transfers and will be responsible for any loss sustained by you only to the extent such loss is caused by the Credit Union’s gross negligence or willful misconduct and as otherwise required by applicable state and federal law; however, any liability will extend only to the resulting direct loss, and not to any consequential or special losses or damages. Under no circumstances will the Credit Union be responsible for any liability, loss, or damage resulting from any delay in the performance of, or failure to perform, its obligations in connection with any electronic funds transfer which is caused by any: act of God, fire or other catastrophe; electronic or computer failure; acts of, or delays or failure to act by, any agent operating between the Credit Union and other recipients of transferred funds and their personnel; or, without limiting the generality of the foregoing, any other cause beyond its control. If the Credit Union is obligated to pay dividends with respect to any electronic funds transfer, it is agreed that dividends are payable for three (3) days only. You agree to waive any statutory right to recover attorneys’ fees from the Credit Union in connection with funds transfers.

If a funds transfer entry includes transmission through a funds transfer system that nets obligations multilaterally and has a loss-sharing agreement among participants, and the system fails to complete settlement, the Credit Union is entitled to a refund of the amount credited to you.

Tower's Privacy Policy for Members
This policy covers personally identifiable information about a member’s current or former relationship with Tower Federal Credit Union.

We Want You to Know. Tower respects the privacy of its members. Protecting the privacy of your personal information, along with your financial assets, is at the core of our business. It is our priority to protect your information in every way in which we interact with you, whether it be in a branch, over the telephone, by mail, or online through the Internet. We exercise great care in safeguarding your information in our business dealings with our affiliates and other companies. We value your trust and recognize that the confidentiality of your personal information is one of our most important responsibilities.

How We Protect Your Information. Our employees are trained on the necessity of maintaining the confidentiality of your information. We limit access to personal information about you to those employees who need to know that information to provide products and services to you, maintain your accounts, and conduct business.

We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard against unauthorized access to your personal information. These measures apply to internal access, as well as to information shared with our affiliates and other companies with whom we do business.

How We Collect Personal Information. We collect and use various types of information to service your accounts, provide improved products to save you time and money, and better respond to your needs.

We collect information:

• You provide us on applications or other forms;
• When verifying an application or other forms;
• From your transactions with us or our affiliates; and
• We receive from consumer reporting agencies.

On our Web site, towerfcu.org, we collect and retain some information on an anonymous and aggregate basis, such as:

• Time and length of your visit;
• Pages you viewed; and
• Internet service provider you used.

If you send us an e-mail, we will collect and keep on file your e-mail address, as well as the information in your message.

How We Use Your Personal Information. We limit who receives personal information about you and the type of information we share. Any information that might be shared with our affiliates or other companies is done so only as a result of an agreement with you, or as required or permitted by law.

Sharing among Affiliates. Tower Financial Services, LLC is our affiliate that offers members the opportunity to purchase alternative products and services through the following non-affiliated firms:

• CUNA Mutual® Group
• Tower Title Services

From time to time, we may provide Tower Financial Services, LLC with your name and address if we believe that you might benefit from these services. You may choose not to have your name and address provided to our affiliate by following the instructions under You May Opt Out.

Sharing with Other Companies. It is sometimes necessary for us to provide the information we collect about you as described above to companies to perform some specific services, such as:

• Check printing
• Statement processing
• Consumer reporting
• Credit/debit card processing
• Printing and mailing of credit union materials
• Marketing services for Tower’s products and services

We also may disclose some of this information to other providers of financial services with whom we have joint marketing agreements or as permitted or required by law to disclose this information. However, under written agreement, we require that our business partners and vendors safeguard all personal information concerning you and your accounts.

You May Opt Out. If you prefer that we do not disclose your name and address to our affiliate and other financial services providers, you may direct us not to make these disclosures. Simply send your completed, signed Request to Opt Out Form by fax or mail to the address below.

  Fax number
  301-497-8930

  Mailing address
  Tower Federal Credit Union
  Member Service Center
  P.O. Box 123
  Annapolis Junction, MD 20701-0123

Non-member joint holders, co-applicants, and co-makers may also exercise this right to opt out. For joint account holders, we will treat an opt out request as applying to everyone listed on the account. If you have any questions, e-mail us or call the Member Service Center at 301-497-7000 or 800-787-8328.

We reserve the right to change our privacy policy from time to time without prior notice to you, unless prior notice is required by law.

Maintaining accurate information
We strive to maintain accurate information about you. If you ever think that our records contain inaccurate information about you, please let us know. We'll correct any mistakes promptly.

If you think we have reported inaccurate information to a consumer reporting agency, please let us know by writing us at Tower Federal Credit Union, P.O. Box 123, Annapolis Junction, MD, 20701-0123. Please give us your name, address, telephone number, and the information you think is wrong. We will investigate and take corrective action if indeed the information we furnished was inaccurate.

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