Pay WPCU Loan Service Agreement

This Agreement and Disclosure (“Agreement”) provides information about the Wright-Patt Credit Union, Inc. (“WPCU”) Pay WPCU Loan Service (the “Service”).  Except as is set forth in this Agreement, as amended from time to time, all other disclosures and agreements for WPCU accounts and Online Banking previously given to You will govern this Service.  To the extent this Agreement conflicts with terms contained in other disclosures and agreements, the terms included herein shall govern use of the Service.  “You” and “Your” shall refer to you, the WPCU Member utilizing the Service.  “Your Loan” shall refer to your loan with WPCU.  WPCU reserves the right to change this agreement at any time. Changes will be effective as of the posting to the www.wpcu.coop website.

Authorization and Third Party FI Accounts

Pay WPCU Loan enables You to make payments to Your Loan (excluding mortgage loans) using a checking account from a third party financial institution (“Third Party FI”).  By utilizing the Service, You authorize WPCU to electronically debit Your designated account at a Third Party FI (“Third Party FI Account”) (and, if necessary, to electronically credit such account to correct erroneous debits) in order to make a payment to Your Loan as specified.  You agree to comply with any applicable instructional material WPCU provides to utilize the Service. 

You understand that in order to use the Service, it is necessary for WPCU and its Pay WPCU Loan Service Provider (“Service Provider”) to access the websites and databases of Your Third Party FI as designated by You and on Your behalf, to retrieve information and effect the loan payment You request.  By using the Service, You represent and warrant to WPCU that You have the right to authorize and permit WPCU to access the Third Party FI Account designated by you to affect such loan payment or for any other purpose authorized by this Agreement.  In addition, You warrant to WPCU that, by disclosing and authorizing WPCU to use such information, You are not violating the rights of any third party.  You warrant and represent that the information You are providing to WPCU in connection with the Service is true, current, correct, and complete.  You hereby authorize and permit WPCU and its Service Provider to use information submitted by You to accomplish the purposes authorized under this Agreement and to configure the Service to be compatible with the Third Party FI.

For as long as You are using the Service, You grant to WPCU and its Service Provider a limited power of attorney coupled with an interest and appoint WPCU and its Service Provider as Your true and lawful attorney-in-fact and agent, with full power of substitution and re-substitution, for You and in Your name, place and stead, in any and all capacities, to access the accounts, effect funds transfers as described above, with full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection with effecting the Service. Once WPCU and/or its Service Provider has actual knowledge that You wish to cease using the Service and has a reasonable opportunity to act on such knowledge, this limited power of attorney shall be automatically revoked; provided, however, that any act done by WPCU and/or its Service Provider in good faith before WPCU has actual knowledge of termination by You and has a reasonable opportunity to act on such knowledge shall be deemed to be authorized by You.

You understand and agree that at all times Your relationship with each Third Party FI account provider is independent of WPCU and Your use of the Service.  WPCU is not responsible for any acts or omissions by any Third Party FI or other provider of any account, including without limitation any modification, interruption or discontinuance of any account by such provider.

You acknowledge that it is Your responsibility to ensure that sufficient funds are on deposit in Your Third Party FI Account on Your chosen date of payment (“Payment Date”). In the event that funds are not available in Your Third Party FI Account on Your designated Payment Date and the entry is returned, WPCU will debit the outstanding balance from Your Loan and it will be Your responsibility to re-initiate the transaction or make a payment by other means in compliance with Your Loan agreement.

WPCU reserves the right to resubmit a debit, or a portion of the debit, to Your Third Party FI Account in the event of an insufficient or uncollected funds return, and if WPCU cannot collect the amount credited to Your Loan.  To affect this collection, You understand and authorize the WPCU to debit the credited loan account or the debited Third Party FI Account in either the same dollar amount as the original funds transfer or a portion of the debit. WPCU will not undertake to notify You in such event, other than by posting any such transfer or transfers to the applicable Third Party FI Account in accordance with this Agreement. Any fees associated with such collection imposed by the Third Party FI shall be Your sole responsibility.

You understand that every transaction requested through the Service must comply with all applicable laws and regulations.  This authorization will remain in effect unless/until You notify WPCU that You have revoked it.  Notice must be given by completing the “Edit Payment or Cancel” transaction in the Pay WPCU Loan section of the Online Banking service prior to 3 pm EST on the Payment Date.  You can also stop payment by notifying the Third Party FI that holds the account from which payment will be debited in accordance with such Third Party FI”s notification procedures. 

You understand and agree that WPCU may from time to time impose additional and/or increased charges in connection with Your use of the Service.  Additionally, charges for other transactions and optional services (e.g., Non-Sufficient Funds or Stop Payment Fees) may apply. Any fees associated with Your Loan account will continue to apply and can be referenced in the WPCU Fee Schedule.

Scheduling Payments

For each Payment Date, the Service will default to Your Loan due date. You may change the date your payment is processed however, to ensure timely credit to Your Loan by the due date, you must select a Payment Date that is no later than the actual date that Your Loan payment is due. If Your Loan due date falls on a non-Business Day, you must select a Payment Date that is at least one (1) Business Day before the actual due date.  Payments must be initiated by 3 pm EST to be credited to Your Loan on the same Business day.  If the Payment Date of a scheduled or recurring payment falls on a non-Business Day, the payment will be initiated on the Business Day prior to the Payment Date.  Scheduled Payment Dates must be prior to any late date or the end of any grace period.  You are responsible for any late charge, finance charge, penalty, default or other consequence that may result from your selecting a Payment Date later than Your Loan due date.

Timing of Pay WPCU Loan Payments and Related Information

Scheduled recurring payments will be posted on the Payment Date at 3 p.m. EST.  Payments will be credited to Your Loan on the scheduled Payment Date after 3 p.m. EST.  Because of the time required to process transactions, a loan payment that you initiate may or may not be reflected in the balances of your affected Third Party FI Accounts before the transaction is actually processed and posted to Your Loan.  Subject to the requirements of applicable law, You agree that WPCU shall have a reasonable opportunity and time to complete the posting of Your Loan payment. Funds will be applied to Your Loan according to the terms and conditions of Your WPCU Loan Agreement.

Cancelling or Changing Pay WPCU Loan Payments

You may request to cancel or change any loan payment you have initiated or scheduled (including recurring payments) by following the instructions within Online Banking.  You may not cancel or change a loan payment after the Service has begun processing the transaction and/or after 3 pm EST as displayed in the platform.  You should refer to other sections of the Agreement for additional terms regarding the cancellation or stopping of payments.  Otherwise, WPCU shall have no obligation to cancel, change, or stop payment on any payment that you have initiated through the Service, except as required by applicable law.

Dollar Amounts of Transfers

WPCU will limit your Service transfer amount up to a maximum of $2,500.00.  In order to initiate a loan payment using the Service, You must have an amount due. WPCU may from time to time for security and/or risk management reasons modify the limits, the frequency, and the dollar amount of loan payments You can make using the Service.

Documentation

You may access all Pay WPCU Loan payments affected or pending at any time by logging into Online Banking and clicking on the "Pay WPCU Loan" option under the “Move Money” tab.  You will have access to 90 days of Pay WPCU Loan payment history.  Additional transaction history is available by viewing your monthly banking statements.

Accuracy of Information You Provide

You agree to provide true, accurate, current and complete information about yourself and your Third Party FI Accounts and You agree not to misrepresent Your identity or information related to Your Third Party FI Accounts.  You acknowledge that WPCU will rely on the information provided by You, and You authorize WPCU to act on any instruction which has been or reasonably appears to have been sent by You.  WPCU is not obligated to take any further steps to confirm or authenticate such instructions and may act upon them without further communication.  WPCU shall have no liability for any losses resulting directly or indirectly from any of Your errors, duplications, ambiguities or misrepresentations in the information that You provide.

Your Responsibility for Errors

You understand that WPCU must rely on the information provided by You, and You authorize WPCU to act on any instruction which has been or reasonably appears to have been sent by You, to submit funds transfer instructions on Your behalf.  You understand that financial institutions receiving the funds transfer instructions may rely on such information.  WPCU is not obligated to take any further steps to confirm or authenticate such information and will act on such without receiving further confirmation.  You understand that, if You provide WPCU with incorrect information or if there is any error in Your instructions, WPCU will make all reasonable efforts to reverse or delete such instructions, but You accept full responsibility for losses resulting from any of Your errors, duplication, ambiguities or fraud in the information that You provide.  If any information You provide is untrue, inaccurate, not current or incomplete, without limiting other remedies, WPCU reserves the right to recover from You any expenses, damages, fines, penalties, costs or losses incurred as a direct or indirect result of the inaccurate or incomplete information.  If You believe there are any errors in the Pay WPCU Loan payment, please refer to the section (V.1.) entitled "In Case of Errors or Questions About Your Electronic Transfers" in our Online Home Banking and Optional Bill Pay disclosure for an explanation of steps to be taken.

If funds transfer instructions identify a bank or beneficiary by name and account number, WPCU, and any Third Party FI processing the transaction, may execute those instructions by reference to the account number only, even if the account number does not correspond to the name.  You understand that such financial institutions involved in facilitating transactions You request through the Service may not investigate discrepancies between names and account numbers.  In addition, You agree that WPCU has no responsibility to investigate discrepancies between names and account numbers.

Joint Account Holder

In submitting information for the Service, You represent and warrant to WPCU that, if any of Your accounts is a joint account, Your joint account holder has consented for You to use Your accounts for the Service.  WPCU will end Your use of the Service if any joint account holder notifies WPCU that (i) they never consented to Your use of the Service, (ii) the joint account can no longer be operated on Your instructions alone, or (iii) the joint account holder is withdrawing consent for You to operate the joint account.

Security Procedures

You understand that the Third Party FI at which an account is maintained may contact WPCU to verify the content and authority of funds transfer instructions, including Pay WPCU Loan payments, and any changes to those instructions.  You understand that WPCU may provide to the Third Party FI such information as may be required to verify the instructions and agree that the disclosure of such information constitutes a valid security procedure under the rules governing such Third Party FI Accounts.

Means of Transfer

You authorize WPCU to select any means WPCU deems suitable to provide Your loan payment instructions to the applicable Third Party FI.  These choices include banking channels, electronic means, funds transfer systems, mail, courier, or telecommunications services, intermediary banks and other organizations.  You agree to be bound by the rules and regulations that govern the applicable funds transfer systems, such as CHIPS or automated clearing house (ACH) as published by the National Automated Clearing House Association (NACHA).  WPCU shall make all reasonable efforts to ensure that Your transfer requests are processed on time; however, WPCU reserves the right to hold funds beyond the normal period and any interest is earned will be the property of WPCU.

WPCU Liability

You agree that all loan payment instructions You submit via the Service constitute authorization for WPCU to complete the transfer.  You represent and warrant to WPCU that You have enough money in the applicable Third Party FI Account to make any loan payment You request through the Service.  You understand and agree that WPCU is not liable under any circumstances for any losses or damages if, through no fault of WPCU, You do not have enough money to make the loan payment, and the loan payment is not completed or is later reversed or if Your Third Party FI does not permit the transfer or the loan payment would exceed the credit limit on any applicable overdraft line.

YOU AGREE THAT WPCU SHALL NOT BE LIABLE FOR ANY COSTS, FEES, LOSSES OR DAMAGES OF ANY KIND INCURRED AS A RESULT OF (1) WPCU’S ACCESS TO THE THIRD PARTY FI ACCOUNTS; (2) WPCU’S DEBIT AND/OR CREDIT, OR INABILITY TO DEBIT AND/OR CREDIT, THE THIRD PARTY FI ACCOUNTS IN ACCORDANCE WITH YOUR INSTRUCTIONS; (3) ANY INACCURACY, INCOMPLETENESS OR MISINFORMATION CONTAINED IN THE INFORMATION RETRIEVED FROM THE THIRD PARTY FI ACCOUNTS; (4) ANY CHARGES IMPOSED BY ANY THIRD PARTY FI AND (5) ANY LIMITATIONS SET BY THE THIRD PARTY FI OR OTHER PROVIDERS OF THE ACCOUNTS.