YOUR RIGHTS AND RESPONSIBILITIES

1. Generally.  This Electronic Fund Transfers Disclosure (the “EFT Disclosure”) supplements and is considered a part of the terms and conditions of your Personal Deposit Account Agreement provided to you at account opening.  Should there be any discrepancy between this EFT Disclosure and the Personal Deposit Account Agreement, the EFT Disclosure shall control.  The Electronic Fund Transfers (“EFTs” or “Transfers”) that you may initiate are indicated below. 

   Some EFTs may not apply to or be available with your account.  If you enroll in our Online Banking or Bill Payment services, you will receive a separate agreement providing the terms and conditions regarding the use of those services.  Please read this EFT Disclosure carefully because it tells you your rights and obligations for the transactions listed. You should keep this notice for future reference.

2. Definitions.  Terms not defined in this EFT Disclosure shall have the meaning given to them in the Personal Deposit Account Agreement.  As used in this EFT Disclosure:
   1. Business Day:  Shall mean Monday through Friday. Holidays are not included.
   2. New Account:  For purposes of this EFT Disclosure, an account is considered “new” during the first 30 calendar days after it is established and receives its first deposit.
3. Types of Transfers Available.  The following types of EFTs are available with your accounts:
   1. Direct Deposits. You can make arrangements for certain direct deposits to be accepted into your money market or passbook savings account.
   2. Preauthorized Withdrawals.  You can make arrangements to pay certain recurring bills from your money market account through the automated clearinghouse (ACH). You may also make arrangements to make intra-institutional transfers between your money market and loan ccounts.
   3. Telephone Transfers.  You may call us at (888) 226-0819 to transfer funds between your money market accounts.
4. Limits on Transfers.  Certain accounts and services have limits.  These include:
   1. Money Market Accounts:  Your money market account is subject to the following limitations:
      1. Transactions Limited by Law.  You may make an unlimited number of withdrawals or transfers from your money market      account so long as they are done in person at our branch location.   However, federal regulations limit your ability to make transfers from these accounts to another of your accounts with us or to    third parties by preauthorized or automatic means, personal computer (including Online Banking or Bill Payment services) or telephone (including facsimile or data transmission) to six (6) per     statement cycle period.  If you exceed this transaction limitation on     a regular basis we will close your account.  Our money market account does not currently include check writing capabilities.
      2. Maximum Deposit Amount:  We limit total amounts on deposit in your money market account to $ 1 million.  This means that you may not open your money market account with more than this amount, and any deposits received after your money market account has reached $ 1 million will be returned.  However, we will permit interest accrued on principal amounts less than $ 1 million to bring the total available balance in your money market account over $ 1 million.
   2. Passbook Accounts.  Only EFT deposits are available on passbook accounts.  No other EFTs are permitted.
   3. Security Limits.  From time to time we may impose additional limits on the number or amounts of EFTs that you may perform for security reasons.
5. Fees.  The fees that we charge for various types of EFTs are disclosed in our Rates and Fees Schedule, as may be amended from time to time. 
6. Disclosure of Account Information to Third Parties.  We will disclose information to third parties about your account or the transfers you make:
   1. Where it is necessary for completing transfers;
   2. In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant;
   3. In order to comply with government agency or court orders;
   4. If you give us your written permission;
   5. In order to comply with requirements of Applicable Law; or
   6. As otherwise disclosed in our Privacy Policy.
7. Right to Receive Documentation of Transfers.  We will make the following documentation regarding your EFTs available to you:
   1. Direct Deposits: If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call us at the telephone number listed at the end of this EFT Disclosure to find out whether or not the deposit has been made.
   2. Periodic Statements: You will get a monthly account statement from us, unless there are no EFTs in a particular month. In any case, you will receive a statement at least quarterly.
   3. Passbook Accounts: If you have a passbook account and you bring it to us, we will record any electronic deposits that were made to your account since the last time you brought in your passbook. We do not send periodic statements for passbook accounts because the only possible EFTs to your passbook account are direct deposits. 
8. Preauthorized Payments.
   1. Right to Stop Payment and Procedure for Doing So. If you have told us in advance to make regular payments out of your account, you can stop any of these payments.  Here’s how:  call or write to us at the phone number and/or address found at the end of this EFT Disclosure in time for us to receive your request 3 Business Days or more before the payment is scheduled to be made.  If you call, we may also require you to put your request in writing and get it to us within 14 days after you call.
   2. Liability for Failure to Stop Payment of Preauthorized Transfers.  If you order us to stop one of these payments 3 Business Days or more before the transfer is scheduled, and we do not do so, we will be liable for your actual losses or damages, subject to the limitations set forth in your Personal Deposit Account Agreement or elsewhere in this EFT Disclosure.
   3. Notice of Varying Amounts. If these regular payments may vary in amount, the person (or organization) you are going to pay will tell you, 10 days before each payment, when it will be made and how much it will be. You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.
9. Our Liability for Failure to Make Transfers.  If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you when you have properly instructed us to do so, we will be liable only for your actual losses. However, there are some exceptions to our liability to you. We will NOT be liable, for instance:
   1. If, through no fault of ours, you do not have enough money in your account to make the transfer.
   2. If the electronic terminal, telecommunication device or any part of the service or electronic fund transfer system was not working properly and you knew about the breakdown when you started the transfer.
   3. If circumstances beyond our control (such circumstances include telecommunication outages or interruptions, postal strikes, delays caused by payees, fires, and floods) prevent us from making a transfer or payment, despite reasonable precautions that we have taken.
   4. If you do not give proper, complete or correct transfer instructions, or you do not follow the procedures in this or any other account agreement with us for requesting such services.
   5. If we have reason to believe that you or someone else is accessing or using your account for fraudulent or illegal purposes.
   6. If your account is closed, or it has been frozen.
   7. If a legal order directs us to prohibit withdrawals from the account.

   There may be other exceptions stated in our Personal Deposit Account Agreement with you.

10. Your Liability for Unauthorized Transfers.  If your statement shows EFTs that you did not make, tell us at once. If you do not tell us within 60 days after the statement was mailed or made available to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money 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.

    Who to Contact:  If you believe there is an unauthorized EFT on your statement, call or write to us at the telephone number and/or address at the end of this EFT Disclosure.

11. In Case of Errors or Questions About Your Electronic FUND Transfers.  In case of errors or questions about your EFTs, telephone us or write to us at the address and/or phone number found at the end of this EFT Disclosure as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt.  We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
    1. Tell us your name and account number (if any).
    2. Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.
    3. Tell us the dollar amount of the suspected error.

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

    We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 Business Days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 Business Days, we may not credit your account.

    For errors involving new accounts or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 Business Days to credit your account for the amount you think is in error.

    We will tell you the results within 3 Business Days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

12. Contact Us.  Please contact us at the telephone number and/or address below to: (a) inquire about the receipt and/or amount of preauthorized credits to your Deposit Account(s); (b) stop payment on preauthorized EFTs; (c) notify us of unauthorized EFTs appearing on your statement; or (d) if you have a question or believe there is an error on your account.

Union Federal Savings Bank
Attn:  Error Processing
PO BOX 848114
Boston, MA 02284-8114

(888) 226-0819