ELECTRONIC FUND TRANSFERS AGREEMENT AND DISCLOSURE

This Electronic Fund Transfers Agreement and Disclosure is the contract which covers your and our rights and responsibilities concerning the electronic fund transfers (EFT) services offered to you by Bridgeport Police Federal Credit Union (“Credit Union”). In this Agreement, the words “you,” “your,” and “yours” mean those who sign the application or account card as applicants, joint owners, or any authorized users. The words “we,” “us,” and “our” mean the Credit Union. The word “account” means an account you have with the Credit Union (e.g. checking account or vacation club account); this agreement covers each account you have with the Credit Union. The term “access code” means any user ID, password, personal identification number (PIN) or other code used for the purpose of accessing your accounts or conducting electronic fund transfers. The words “transfer” and “transaction” mean an electronic fund transfer. Electronic fund transfers are electronic transfers of money initiated through the EFT services described below using a specific account you have with us. By signing an application or account card for EFT services, signing your card, or using any service, each of you, jointly and severally, agree to the terms and conditions in this Agreement and any amendments for the EFT services offered. Furthermore, electronic fund transfers that meet the definition of remittance transfers are governed by 12 C.F.R. part 1005, subpart B—Requirements for remittance transfers, and consequently, terms of this agreement may vary for those types of transactions. A “remittance transfer” is an electronic transfer of funds of more than $15.00 which is requested by a sender and sent to a designated recipient in a foreign country by a remittance transfer provider. Terms applicable to such transactions may vary from those disclosed herein and will be disclosed to you at the time such services are requested and rendered in accordance with applicable law.

If the amount of a transaction subject to this Agreement exceeds the available balance in the specific account used in the transaction, the Credit Union may authorize and pay the amount. If you initiate a transaction that overdraws one of your accounts, you agree to make immediate payment of any overdraft amount together with any applicable overdraft fees to the Credit Union. The Credit Union reserves the right to take funds from other deposit accounts to cover any negative balance per your agreement with us. The Credit Union reserves the right to refuse, return or not authorize any transaction that exceeds available verified funds, exceeds a credit limit, lowers an account below a required minimum or otherwise requires us to increase our required reserve on the account. Funds that are held as uncollected funds, pledged as collateral, subject to legal process or other claim, or frozen because of a delinquent loan or credit card are not available for use. Information on uncollected funds can be found in our Funds Availability Schedule.

1. EFT SERVICES — If approved, you may conduct any one (1) or more of the EFT services offered by the Credit Union.

a. Visa Debit Card

If approved, you may use your Visa® card to purchase goods and services from participating merchants. However, you may not use your card to initiate any type of electronic gambling transactions through the Internet. If you wish to pay for goods or services over the Internet, you may be required to provide card number security information before you will be permitted to complete the transaction. You agree that you will not use your card for any transaction that is illegal under applicable federal, state, or local law. Funds to cover your card purchases will be deducted from your checking account. For ATM and one-time debit card transactions, you must consent to the Credit Union’s overdraft protection plan in order for the transaction amount to be covered under the plan. Without your consent, the Credit Union may not authorize and pay an overdraft resulting from these types of transactions. Services and fees for overdrafts are shown in the document the Credit Union uses to capture the member’s opt-in choice for overdraft protection and the Fee Schedule.

You may use your card and personal identification number (PIN) in ATMs of the Credit Union, Allpoint, NYCE, and Cirrus® networks, and such other machines or facilities as the Credit Union may designate.

At the present time, you may also use your card to:

- Withdraw funds from your share and checking accounts.

- Transfer funds from your share and checking accounts.

- Obtain balance information for your share and checking accounts.

- Make point-of-sale (POS) transactions with your card and personal identification number (PIN) to purchase goods or services at merchants that accept Visa.

- Order goods or services by mail or telephone from places that accept Visa.

The following limitations on Visa Debit Card transactions may apply:

- You may withdraw up to a maximum of $620.00 in any one (1) day from an ATM machine, if there are sufficient funds in the account you are withdrawing from.

- You may purchase up to a maximum of $5,000.00 per day, if there are sufficient funds in your checking account.

- You may transfer up to the available balance in your share and checking accounts at the time of the transfer.

- See Section 2 for transfer limitations that may apply to these transactions.

- Maximum number of combined ATM withdrawals and POS transactions per day is 20.

- The Credit Union may from time to time offer additional services or rewards programs with your Visa Debit Card. The Credit Union is not obligated to offer such services or programs and may withdraw or change them at any time.

Card Information Updates and Authorizations

If you have authorized a merchant to bill charges to your card on a recurring basis, it is your responsibility to notify the merchant in the event your card is replaced, your card information (such as card number and expiration date) changes, or the account associated with your card is closed. However, if your card is replaced or card information changes, you authorize us, without obligation on our part, to provide the updated card information to the merchant in order to permit the merchant to bill recurring charges to the card. You authorize us to apply such recurring charges to the card until you notify us that you have revoked authorization for the charges to your card

Your card is automatically enrolled in an information updating service. Through this service, your updated card information (such as card number and expiration date) may be shared with participating merchants to facilitate continued recurring charges. Updates are not guaranteed before your next payment to a merchant is due. You are responsible for making direct payment until recurring charges resume. To revoke your authorization allowing us to provide updated card information to a merchant, please contact us.

b. 24 Hour Phone Teller (audio response teller)

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

- Withdraw funds from your share, checking, sub-share and vacation club accounts.

- Transfer funds from your share, checking, sub-share, and vacation club accounts.

- Obtain balance information for your share, checking, loan, credit card, certificate, sub-share, vacation club, christmas club, loan holding, and visa holding accounts.

- Make loan and credit card payments from your share, checking, sub-share, and vacation club accounts.

- Determine if a particular item has cleared.

- Verify the last date and amount of your payroll deposit.

- Place a stop payment on a personal check.

Your accounts can be accessed under 24 Hour Phone Teller via a touch-tone telephone only. 24 Hour Phone Teller service will be available for your convenience 24 hours per day. This service may be interrupted for a short time each day for data processing.

The following limitations on 24 Hour Phone Teller transactions may apply:

- There is no limit to the number of inquiries, transfers, or withdrawal requests you may make in any one (1) day.

- See Section 2 for transfer limitations that may apply to these transactions.

All checks are payable to you as a primary member and will be mailed to your address of record. The Credit Union may set other limits on the amount of any transaction, and you will be notified of those limits. The service will discontinue if no transaction is entered after numerous unsuccessful attempts to enter a transaction and there may be limits on the duration of each telephone call.

c. Preauthorized EFTs

- Direct Deposit. Upon instruction of (i) your employer, (ii) the Treasury Department or (iii) other financial institutions, the Credit Union will accept direct deposits of your paycheck or federal recurring payments, such as Social Security, to your share, sub-share, checking, vacation club, christmas club, loan holding, and visa holding accounts.

- Preauthorized Debits. Upon instruction, we will pay certain recurring transactions from your share, checking, sub-share, vacation club, loan holding, and visa holding accounts.

- See Section 2 for transfer limitations that may apply to these transactions.

- Stop Payment Rights. If you have arranged in advance to make electronic fund transfers out of your account(s) for money you owe others, you may stop payment on preauthorized transfers from your account. You must notify us orally or in writing at any time up to three (3) business days before the scheduled date of the transfer. We may require written confirmation of the stop payment order to be made within 14 days of any oral notification. If we do not receive the written confirmation, the oral stop payment order shall cease to be binding 14 days after it has been made. A stop payment request may apply to a single transfer, multiple transfers, or all future transfers as directed by you, and will remain in effect unless you withdraw your request or all transfers subject to the request have been returned.

- Notice of Varying Amounts. If these regular payments may vary in amount, the person you are going to pay is required to tell you, ten (10) days before each payment, when it will be made and how much it will be. You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment or when the amount would fall outside certain limits that you set.

- Liability for Failure to Stop Payment of Preauthorized Transfers. If you order us to stop payment of a preauthorized transfer three (3) business days or more before the transfer is scheduled and we do not do so, we will be liable for your losses or damages.

d. One-Time Electronic Fund Transfers Initiated By Third Parties

You may authorize a third party to initiate a one-time electronic fund transfer from your checking, share, sub-share and/or vacation club account to the third party account. These third party transfers will require you to provide the third party with your account number and credit union information in order to initiate the transfer.

- There is no limit to the number of transfers you may make in any one (1) day.

- See Section 2 for transfer limitations that may apply to these transactions.

e. Electronic Check Conversion/Electronic Returned Check Fees

If you pay for purchases or bills with a check or draft, you may authorize your check or draft to be converted to an electronic fund transfer. You may also authorize merchants or other payees to electronically debit your account for returned check fees. You are considered to have authorized these electronic fund transfers if you complete the transaction after being told (orally or by a notice posted or sent to you) that the transfer may be processed electronically or if you sign a written authorization.

f. Online Banking

If Online Banking is activated for your accounts, you will be required to use secure login information to access the accounts. At the present time, you may use Online Banking to:

- Withdraw funds from your share, checking, sub-share, and vacation club accounts.

- Transfer funds from your share, checking, sub-share, and vacation club accounts.

- Obtain balance information for your share, checking, loan, credit card, certificate, sub-share, vacation club, christmas club, loan holding, and visa holding accounts.

- Make loan and credit card payments from your share, checking, sub-share and vacation club accounts.

- Determine if a particular item has cleared.

- Obtain tax information on amounts earned on accounts or interest paid on loan accounts.

- Verify the last date and amount of your payroll deposit.

- Place a stop payment on a personal check.

Your accounts can be accessed under Online Banking via personal computer. Online Banking will be available for your convenience 24 hours per day. This service may be interrupted for a short time each day for data processing. All checks are payable to you as a primary member and will be mailed to your address of record. We may set other limits on the amount of any transaction, and you will be notified of those limits. The service will discontinue if no transaction is entered after numerous unsuccessful attempts to enter a transaction and there may be limits on the duration of each access.

The following limitations on Online Banking transactions may apply:

- There is no limit to the number of inquiries, transfers, or withdrawal requests you may make in any one (1) day.

- See Section 2 for transfer limitations that may apply to these transactions.

2. TRANSFER LIMITATIONS — None

3. CONDITIONS OF EFT SERVICES —

a. Ownership of Cards

Any card or other device which we supply to you is our property and must be returned to us, or to any person whom we authorize to act as our agent, or to any person who is authorized to honor the card, immediately according to instructions. The card may be repossessed at any time at our sole discretion without demand or notice. You cannot transfer your card or account to another person.

b. Honoring the Card

Neither we nor merchants authorized to honor the card will be responsible for the failure or refusal to honor the card or any other device we supply to you. If a merchant agrees to give you a refund or adjustment, you agree to accept a credit to your account in lieu of a cash refund.

c. Foreign Transactions

Visa. Purchases and cash withdrawals made in foreign currencies will be debited from your account in U.S. dollars. The exchange rate between the transaction currency and the billing currency used for processing international transactions is a rate selected by Visa from a range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate Visa itself receives or the government-mandated rate in effect for the applicable central processing date. The exchange rate used on the processing date may differ from the rate that would have been used on the purchase date or cardholder statement posting date.

A fee of 1.00% of the amount of the transaction, calculated in U.S. dollars, will be imposed on all multiple currency foreign transactions, including purchases, cash withdrawals and credits to your account. A fee of 0.80% of the amount of the transaction, calculated in U.S. dollars, will be imposed on all single currency foreign transactions, including purchases, cash withdrawals and credits to your account. A foreign transaction is any transaction that you complete or a merchant completes on your card outside of the United States, with the exception of U.S. military bases, U.S. territories, U.S. embassies or U.S. consulates.

d. Security of Access Codes, Account Information, Cards and Card Numbers

The access codes issued to you or created by you are for your security purposes. All access codes are confidential and should not be disclosed to third parties or recorded on or with the card. You are responsible for safekeeping any information or device that accesses your accounts. You agree not to disclose, or otherwise make available, any access code, account information or card number to anyone not authorized to sign on your account(s). You agree not to provide your card to anyone not authorized to sign on your account(s). If you do authorize someone to use any of your EFT services, that authority shall continue until you contact the Credit Union to specifically revoke such authority. If you fail to maintain the security of your access codes, account information, cards or card numbers and the Credit Union suffers a loss, we may terminate your EFT services immediately.

e. Joint Accounts

If any of your accounts accessed under this Agreement are joint accounts, all joint owners, including any authorized users, shall be bound by this Agreement and, alone and together, shall be responsible for all EFT transactions to or from any accounts or loan accounts as provided in this Agreement. Each joint account owner, without the consent of any other account owner, may, and is hereby authorized by every other joint account owner, make any transaction permitted under this Agreement. Each joint account owner is authorized to act for the other account owners, and the Credit Union may accept orders and instructions regarding any EFT transaction on any account from any joint account owner.

4. FEES AND CHARGES —

There are certain fees and charges for EFT services, overdrafts and returned items. For a current listing of applicable fees, see our current Fee Schedule that was provided to you at the time you applied for or requested these electronic services. From time to time, the charges may be changed. We will notify you of any changes as required by applicable law. If a transfer involves an account at another institution, that institution may also charge fees.

If you use an ATM not operated by us, you may be charged a fee by the ATM operator and by any international, national, regional, or local network used in processing the transaction (and you may be charged a fee for a balance inquiry even if you do not complete a funds transfer). The ATM surcharge will be debited from your account if you elect to complete the transaction or continue with the balance inquiry.

5. MEMBER LIABILITY –

You are responsible for all transactions you authorize using your EFT services under this Agreement. If you authorize someone to use any of your access codes, account information, cards, card numbers or EFT services, you are responsible for any resulting transactions, even if that person exceeds the authority given them, until you contact the Credit Union to specifically revoke such authority.

TELL US AT ONCE if you believe your card or access code has been lost or stolen, if you believe someone has used your card or access code or otherwise accessed your account(s) without your authority, or if you believe that an electronic fund transfer has been made without your permission using information from your check. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your accounts (plus your maximum overdraft line-of-credit). If a transaction was made with your card or card number without your permission and was a Visa transaction, you will have no liability for the transaction, unless you were fraudulent or negligent in the handling of your account or card.

For all other EFT transactions involving your card or access code, including if you were negligent in the handling of your account or card, your liability for an unauthorized transaction is determined as follows. If you tell us within two (2) business days after you learn of the loss or theft of your card or access code, you can lose no more than $50.00 if someone used your card or access 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 access code and we can prove we could have stopped someone from using your card or access code without your permission if you had told us, you could lose as much as $500.00.

Also, if your statement shows transfers that you did not make including those made by card, access code or other means, TELL US AT ONCE. If you do not tell us within 60 days after the statement was mailed to you or made available to you, you may not get back any money lost after the 60 days if we can prove that we could have stopped someone from making the transfers if you had told us in time. If a good reason (such as a hospital stay) kept you from telling us, we will extend the time periods.

If you believe your card or access code has been lost or stolen or that someone has transferred or may transfer money from your account(s) without your permission, call:

(203) 374-6500

or write to:

Bridgeport Police Federal Credit Union
3590 Main Street
Bridgeport, CT 06606
Fax: (203) 374-8222

You should also call the number or write to the address listed above if you believe a transfer has been made using the information from your check without your permission.

6. RIGHT TO RECEIVE DOCUMENTATION —

a. Periodic Statements

Transfers and withdrawals made through any debit card transactions, audio response transactions, preauthorized EFTs, one-time electronic fund transfers or online/PC transactions will be recorded on your periodic statement. You will receive a statement monthly unless there is no such transaction in a particular month. In any case, you will receive a statement at least quarterly.

b. Terminal Receipt

You can get a receipt at the time you make any transaction (except inquiries) involving your account using an ATM and/or point-of-sale (POS) terminal.

c. Direct Deposit

If you have arranged to have a direct deposit made to your account at least once every 60 days from the same source and you do not receive a receipt (such as a pay stub), you can find out whether or not the deposit has been made by calling (203) 374-6500. This does not apply to transactions occurring outside the United States.

7. ACCOUNT INFORMATION DISCLOSURE —

We will disclose information to third parties about your account(s) or the transfers you make:

- As necessary to complete transfers;

- To verify the existence of sufficient funds to cover specific transactions upon the request of a third party, such as a credit bureau or merchant;

- If your account is eligible for emergency cash and/or emergency card replacement services and you request such services, you agree that we may provide personal information about you and your account that is necessary to provide you with the requested service(s);

- To comply with government agency or court orders; or

- If you give us your written permission.

8. BUSINESS DAYS —

For purposes of this Agreement, our business days are Monday through Friday, excluding holidays.

9. CREDIT UNION LIABILITY FOR FAILURE TO MAKE TRANSFERS —

If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we may be liable for your losses or damages. However, we will not be liable for direct or consequential damages in the following events:

- If, through no fault of ours, the electronic fund transfer cannot be completed because there’s not enough money in the specific account the funds are coming from, the transfer involves a loan request exceeding your credit limit, or the funds needed to complete the transfer are held as uncollected funds pursuant to our Funds Availability Schedule. If funds are being transferred from another financial institution to your account(s) with us, please note that institution’s funds availability policy can differ from ours.

- If you used your card, card number, access code, account number or check in an incorrect manner.

- If the ATM where you are making the transfer does not have enough cash.

- If the ATM was not working properly and you knew about the problem when you started the transaction.

- If circumstances beyond our control (such as fire, flood, or power failure) prevent the transaction.

- If the money in your account is subject to legal process or other claim.

- If funds in your account are pledged as collateral or frozen because of a delinquent loan or credit card.

- If the error was caused by a system of any participating ATM network.

- If the electronic transfer is not completed as a result of your willful or negligent use of your card, access code, account number, check or any EFT facility for making such transfers.

- If the telephone or computer equipment you use to conduct audio response, online/PC, or mobile banking transactions is not working properly and you know or should have known about the breakdown when you started the transaction.

- Any other exceptions as established by the Credit Union.

10. NOTICES —

All notices from us will be effective when we have mailed them or delivered them to the appropriate address in the Credit Union’s records or made them available to you through e-statements. Notices from you will be effective when received by the Credit Union at the address specified in this Agreement. We reserve the right to change the terms and conditions upon which this service is offered. We will mail or make the notice available to you at least 21 days before the effective date of any change. Use of this service is subject to existing regulations governing the Credit Union account and any future changes to those regulations.

The following information is a list of safety precautions regarding the use of ATMs and night deposit facilities:

- Be aware of your surroundings, particularly at night.

- Consider having someone accompany you when the ATM or night deposit facility is used after dark.

- Close the entry door of any ATM facility equipped with a door.

- If another person is uncomfortably close to you at the time of your transaction, ask the person to step back before you complete your transaction. If it is after the regular hours of the financial institution and you are using an ATM, do not permit entrance to any person you do not know.

- Refrain from displaying your cash at the ATM or night deposit facility. As soon as your transaction is completed, place your money in your purse or wallet. Count the cash later in the safety of your car or home.

- If you notice anything suspicious at the ATM or night deposit facility, consider using another ATM or coming back later. If you are in the middle of a transaction and you notice something suspicious, cancel the transaction, take your card or deposit envelope, and leave.

- If you are followed after making a transaction, go to the nearest public area where people are located.

- Do not write your personal identification number (PIN) or access code on your Visa Debit card.

- Report all crimes to law enforcement officials immediately. If emergency assistance is needed, call the police from the nearest available telephone.

11. BILLING ERRORS —

In case of errors or questions about electronic fund transfers from your accounts or if you need more information about a transfer on the statement or receipt, telephone us at the following number or send us a written notice to the following address as soon as you can. We must hear from you no later than 60 days after we sent or made available the FIRST statement on which the problem appears. Call us at:

(203) 374-6500

or write to:

Bridgeport Police Federal Credit Union
3590 Main Street
Bridgeport, CT 06606
Fax: (203) 374-8222

- Tell us your name and account number.

- Describe the electronic transfer you are unsure about and explain, as clearly as you can, why you believe the Credit Union has made an error or why you need more information.

- Tell us the dollar amount of the suspected error.

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

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

We will tell you the results within three (3) business days 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.

* If you give notice of an error within 30 days after you make the first deposit to your account, we will have 20 business days instead of ten (10) business days to investigate the error.

** If you give notice of an error within 30 days after you make the first deposit to your account, notice of an error involving a point-of-sale (POS) transaction, or notice of an error involving a transaction initiated outside the U.S., its possessions and territories, we will have 90 days instead of 45 days to investigate the error.

NOTE: If the error you assert is an unauthorized Visa transaction, other than a cash disbursement at an ATM, we will credit your account within five (5) business days unless we determine that the circumstances or your account history warrant a delay, in which case you will receive credit within ten (10) business days.

12. TERMINATION OF EFT SERVICES —

You may terminate this Agreement or any EFT service under this Agreement at any time by notifying us in writing and stopping your use of your card, any access code, check or account number that would cause an EFT to occur for an EFT service you terminated. You must return all cards to the Credit Union. You also agree to notify any participating merchants that authority to make bill payment transfers has been revoked. We may also terminate this Agreement at any time by notifying you orally or in writing. If we terminate this Agreement, we may notify any participating merchants making preauthorized debits or credits to any of your accounts that this Agreement has been terminated and that we will not accept any further preauthorized transaction instructions. We may also program our computer not to accept your card or access code for any EFT service. Whether you or the Credit Union terminates this Agreement, the termination shall not affect your obligations under this Agreement for any electronic transactions made prior to termination.

13. GOVERNING LAW —

This Agreement is governed by the bylaws of the Credit Union, federal laws and regulations, the laws and regulations of the state of Connecticut, and local clearinghouse rules, as amended from time to time. Any disputes regarding this Agreement shall be subject to the jurisdiction of the court of the county in which the Credit Union is located.

14. ENFORCEMENT —

You are liable to us for any losses, costs or expenses we incur resulting from your failure to follow this Agreement. You authorize us to deduct any such losses, costs or expenses from your account(s) 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 postjudgment collection actions.