Description of Service: Mobile Banking is offered as a convenience and supplemental service to our Online Banking services. It is not intended to replace access to Online Banking from your personal computer or other methods you use for managing your accounts and service with us. Mobile Banking allows you to access your Cornerstone Financial Credit Union account information, make payments to loans you have with Cornerstone and transfer funds. To utilize the Mobile Banking service, you must have registered an active e-mail address with Cornerstone Financial Credit Union through Online Banking. We reserve the right to limit the types and number of accounts eligible and the right to refuse to make any transaction you request through Mobile Banking. We may also reserve the right to modify the scope of the Service at any time.
Mobile Banking may not be accessible or may have limited utility over some network carriers. In addition, the Service may not be supportable for all Devices. Cornerstone Financial Credit Union cannot guarantee and is not responsible for the availability of data services provided by your mobile carrier, such as data outages or “out of range” issues.
Other Agreements: You agree that, when you use Mobile Banking, you remain subject to the terms and conditions of your existing agreements with any unaffiliated service providers, including, but not limited to, your mobile service provider and that this Agreement does not amend or supersede any of those agreements. You understand that those agreements may provide for fees, limitations and restrictions which might impact your use of Mobile Banking (such as data usage or text messaging charges imposed on you by your mobile service provider for your use of or interaction with Mobile Banking), and you agree to be solely responsible for all such fees, limitations and restrictions. You agree that only your mobile service provider is responsible for its products and services. Accordingly, you agree to resolve any problems with your provider directly without involving us. Any deposit account, loan or other banking product accessed through this Service is also subject to the Account Agreement and Disclosures provided at the time of Account opening. You should review the Account disclosures carefully, as they may include transaction limitations and fees which might apply to your use of Mobile Banking.
Permitted Mobile Banking Transfers
You may use the Service to transfer funds between your eligible Cornerstone Financial Credit Union accounts (“Internal Transfer”). You may not transfer to or from an Account at another financial institution using Mobile Banking.
You must have sufficient funds available in the selected account at the time the transfer request is received, including any available overdraft protection. We may process transfers that exceed your available balances at our sole discretion. If we process the transfer and unless your overdraft protection is provided via an Overdraft Line of Credit, you agree to cover any overdraft amount plus any applicable fees. Federal regulations require financial institutions to limit the way withdrawals may be made from a savings or money market account. Each transfer from a savings account using Mobile Banking is counted as one of the six limited transactions permitted each monthly statement cycle period, as described in the Deposit Account Agreement and Disclosures. You may be subject to fees or account conversion if you exceed the transaction limits of your Account using Mobile Banking or any other methods outlined in your Deposit Account Agreement and Disclosures.
We may also limit the type, frequency and amount of transfers for security purposes and may change or impose the limits without notice. You agree to confirm the completion of each transfer in your account balance and transaction history before withdrawing transferred funds.
You represent and agree to the following by enrolling for Mobile Banking or by using the Service: Account Ownership/Accurate Information: You represent that you are the legal owner of the Accounts and other financial information which may be accessed via Mobile Banking. You represent and agree that all information you provide to us in connection with Mobile Banking is accurate, current and complete, and that you have the right to provide such information to us for the purpose of using Mobile Banking. You agree not to misrepresent your identity or your account information. You agree to keep your account information up to date and accurate. You represent that you are an authorized user of the Device you will use to access Mobile Banking.
User Security: You agree to take every precaution to ensure the safety, security and integrity of your account and transactions when using Mobile Banking. You agree not to leave your Device unattended while logged into Mobile Banking and to log off immediately at the completion of each access by you. You agree not to provide your username, password or other access information to any unauthorized person. If you permit other persons to use your Device, login information, or other means to access Mobile Banking, you are responsible for any transactions they authorize and we will not be liable for any damages resulting to you. You agree not to use any personally identifiable information when creating shortcuts to your Account.
User Conduct: You agree not to use Mobile Banking or the content of information delivered through Mobile Banking in any way that would: (a) infringe any third-party copyright, patent, trademark, trade secret or other proprietary rights or rights of privacy, including any rights in the Software; (b) be fraudulent or involve the sale of counterfeit or stolen items, including, but not limited to, use of Mobile Banking to impersonate another person or entity; (c) violate any law, statute, ordinance or regulation (including but not limited to, those governing export control, consumer protection, unfair competition, anti-discrimination or false advertising); (d) be false, misleading or inaccurate; (e) create liability for us or our affiliates or service providers, or cause us to lose (in whole or in part) the services of any of our service providers; (f) be defamatory, trade libelous, unlawfully threatening or unlawfully harassing; (g) potentially be perceived as illegal, offensive or objectionable; (h) interfere with or disrupt computer networks connected to Mobile Banking; (i) interfere with or disrupt the use of Mobile Banking by any other user; or (j) use Mobile Banking in such a manner as to gain unauthorized entry or access to the computer systems of others.
No Commercial Use or Re-Sale: You agree that the Service is only for the personal or business use of individuals authorized to access your account information. You agree not to make any commercial use of Mobile Banking or resell, lease, rent or distribute access to Mobile Banking.
Indemnification: Unless caused by our intentional misconduct or gross negligence, you agree to indemnify, defend and hold harmless Cornerstone Financial Credit Union its affiliates, officers, directors, employees, consultants, agents, service providers, and licensors from any and all third party claims, liability, damages, expenses and costs (including, but not limited to, reasonable attorneys’ fees) caused by or arising from (a) a third party claim, dispute, action, or allegation of infringement, misuse, or misappropriation based on information, data, files, or otherwise in connection with the Service; (b) your violation of any law or rights of a third party; or (c) your use, or use by a third party, of Mobile Banking.
CORNERSTONE FINANCIAL CREDIT UNION REMOTE DEPOSIT CAPTURE AGREEMENT
CORNERSTONE FINANCIAL CREDIT UNION (“Credit Union”), a state-chartered credit union, the “Member” defined below, hereby enter into, as of the date the Credit Union grants access to the Services (the “Effective Date”), this Remote Deposit Services Agreement (“Agreement”) consisting of General Terms and Conditions, Exhibits, and any amendments attached hereto or hereafter by mutual consent of the parties, and incorporated by this reference.
Remote Deposit Capture General Terms and Conditions
Agreement: This Agreement establishes the rules that govern the processing of deposited Checks through Member's Account(s) at the Credit Union using Remote Deposit Services. From time to time, the Credit Union may amend any of the terms and conditions contained in this Agreement. Such amendments shall become effective as stated on any notice sent to You, the Member. Examples of such notices might include, but are not limited to, newsletters, disclosures, emails, etc.
By using the Remote Deposit Services, You accept all the terms and conditions of this Agreement. Please read it carefully.
The terms and conditions of Member's Membership Agreement and the Truth-In-Savings Schedule for Member's deposit Accounts and each of Member's loan agreements continue to apply notwithstanding anything to the contrary in this Agreement.
Rules, Laws and Regulations: You agree to abide by and comply with all local, state, and federal rules, laws and regulations, including but not limited to, Regulation CC “Expedited Funds Availability Act”, its Subparts B, C and D (Subpart D implements the Check Clearing for the 21st Century Act (Check 21 Act), Bank Secrecy Act (BSA), and laws administered by the United States of America which are in existence as of the date of this Agreement and as amended from time to time.
Definitions: In addition to all the other terms defined herein, the following terms shall have the following meanings:
1. “We”, “Our”, “Us”, and “Credit Union” shall mean Cornerstone Financial Credit Union, its employees, directors, officers, representatives, and agents.
2. “You”, “Your”, and “Member” shall mean the Account holder authorized by Credit Union to use the Remote Deposit Services, and any User authorized to exercise control over funds deposited in Member's Account through the Remote Deposit program.
3. “Account” or “Accounts” shall mean the individual checking, savings share(s) deposited with Credit Union through the Remote Deposit program.
4. “Check” or “Checks” shall mean negotiable demand draft(s) drawn or payable through an office of a United States-based financial institution, as well as demand draft(s) drawn on a Federal Reserve Bank or a Federal Home Loan Bank or on the Treasury of the United States. Check(s) include original check(s) and substitute check(s). Check(s) do not include non-cash items payable in a medium other than United States dollars. A draft may be a Check even though it is described on its face by another term, such as 'money order.'
5. “Image Item” or “Image Items” means digitized image(s) of Check(s) that are created by You and transmitted to the Credit Union using the Services.
6. “Services” means any of the Remote Deposit functions offered and/or used by You in connection with this Agreement, including optional and future services added by an addendum.
7. “System” means the program that is maintained by the Credit Union, or other third parties, that You connect to through the internet in order to access the Services.
Services and Funds Availability: Once approved for the Remote Deposit program, You may use the Services to deposit Checks into your Account(s) with the Credit Union, subject to the terms of this Agreement. Checks deposited through the Services will be converted to Image Items for processing. The Services are subject to transaction limitations and the Funds Availability Disclosure, as set forth in the Membership Agreement and Truth-In-Savings schedule, which govern the use of Your Account. The Funds Availability Disclosure also includes the following provisions as it relates to Mobile or Remote Deposits:
Checks totaling up to $5,000 may be deposited on any one (1) calendar day. Irrespective of the aggregate total dollar amount of check deposits made in any one calendar day, no more than twenty (20) checks and no more than $5,000 will be accepted in one calendar day.
If you do not qualify for immediate funds availability, all remote deposits will be held for five (5) business days (including the day of deposit). If you do qualify for immediate funds availability, all remote deposit amounts in excess of your immediate funds availability amount will be held for five (5) business days (including the day of deposit). “Business Day” is defined as Monday through Friday, excluding Federal Holidays.
Checks submitted for Remote Deposit MUST be properly endorsed by the recipient and MUST include FOR CFCU MOBILE DEPOSIT ONLY. Otherwise, the deposit may be completely rejected and Your Account not credited.
By using the Remote Deposit Services, You agree to receive any notice of longer delay via electronic communications (email to the e-mail address provided in your Account record on file with Credit Union, or messages within online banking or the mobile banking application).
Access: To use Remote Deposit Services, You must have a compatible mobile device with Our System, access to telecommunication services necessary for the Remote Deposit Service. Application upgrades may be required from time-to-time for continued use of the Services.
Equipment or System Failure: In the event of a System failure, You agree that, in order to deposit your Checks, You must deliver them directly to a Credit Union branch office for processing. If the Checks were scanned prior to the System failure, You must obtain Our approval before delivering the Checks to a branch office for processing.
Hours of Access: Services are available 24 hours per day, 7 days per week, although some or all Services may not be available occasionally due to emergency or scheduled System maintenance. We agree to post notice of any extended periods of non-availability on the Credit Union website.
Transmission Deadlines: Transmissions originate from the Credit Union offices in Nashville, Tennessee. Image Item deposits received by the Credit Union via the System before midnight Central Time on a regular business day are posted to Member's Account the same day. Deposits completed after midnight Central Time or on a non-business day (holiday, weekend) may be posted on the next Credit Union business day. In the event that We receive an Image Item from You on a day that is not a business day or at a time which is after the applicable processing cutoff hour for a business day, the Image Item is deemed to have been received by Us at the opening of the next business day. “Business day” shall mean Monday through Friday during which time the Credit Union is open for business, except observed Federal and Tennessee holidays. The Federal Reserve and/or the Credit Union, at its transmission office in Nashville, Tennessee, will be closed on non-business days. In addition, you are responsible for understanding and building into Your transmission schedule the changes in transmission windows required by time changes associated with Daylight Savings Time.
Authorized Users: The Credit Union shall be entitled to rely on the apparent authority of any person who accesses the services using valid Member and User login IDs and passwords, including such persons who may not be signers on Member's Account. Except as otherwise provided by law, You will indemnify Credit Union and hold it harmless for any loss or expense caused by any person with the apparent authority to access the Services. You agree to provide each Authorized User a copy of these terms in connection with their use of the Services. The Credit Union may elect to verify the authenticity or content of any transmission by placing a call to any authorized signer on Your Account at Our discretion. We may deny Your access to the Services without prior notice if We are unable to confirm any person’s authority to access the Services or if We believe such action is necessary for security reasons.
Security: You understand the importance of Your role in preventing misuse of Your Accounts associated with the Remote Deposit program, and You agree to promptly examine Your paper or electronic statement for each of Your Credit Union Accounts as soon as You receive it and notify Us of any errors in accordance with Your Account Membership Agreement. You agree to protect the confidentiality of Your Accounts and Account number and passwords. Data transmitted via the Services is encrypted in an effort to provide transmission security. Remote Deposit utilizes identification technology to verify that the sender and receiver, of transmissions related to the Services can be appropriately identified by each other. Notwithstanding Our efforts to ensure the Services are secure, You acknowledge that the Internet is inherently insecure and that all data transfers, including electronic mail, occur openly on the Internet and potentially can be monitored and read by others. We cannot and do not warrant that all data transfers utilizing Remote Deposit, or e-mail transmitted to and from Us will not be monitored or read by others. You agree to notify Us immediately by phone or email at the number and address listed in the “Contact Information” section of this agreement if You believe any passwords have been lost, stolen, used without Your permission, or otherwise compromised.
Use of Services: As a condition to using the Services, You agree that You are solely responsible for the use of the Services and that You will use the Services in accordance with this Agreement. You agree not to attempt to circumvent the security features of the Services or the System or make any improper or unauthorized transfer of funds from Accounts via the Services or the System. You agree that You are prohibited from engaging in conduct that would violate the proprietary rights of the owner(s) of the System and the Services as well as accessing or using the System or the Services in any other unauthorized manner. You agree to be liable to the Credit Union and its vendors, for any claims, losses, liabilities, damages, expenses or costs arising as a result of any accidental, negligent or intentional misuse of the Services or the System by You or Your authorized Users.
You are prohibited from using the Services for any activity that:
1. Would result in You being or becoming a “money service business” as defined in the Bank Secrecy Act and its implementing regulations;
2. Knowingly accepting restricted transactions in connection with another person in unlawful Internet gambling as defined in the Unlawful Internet Gambling Enforcement Act and Regulation GG (Prohibition on Funding of Unlawful Internet Gambling); or
3. Directly or indirectly related to the use of the Services that is illegal or fraudulent.
Deposit of Original Checks: You agree that no Check deposited to the Credit Union shall cause funds to be debited more than once from the account of the maker. You agree that the original Check, a duplicate Check image, or any copy of the original Check or Check image will not be deposited by You or Your authorized Users with the Credit Union (unless We instruct You to do so) or under any circumstances with any other financial institution.
Check Retention Period: You agree that You will preserve the originals of all Checks, processed through the Remote Deposit Services pursuant to this Agreement until the deposit shows on Your printed member statement or electronic statement, whichever is shorter (“Retention Period”). The risk of loss due to the unavailability of the original or copy of a Check for any reason, during the Retention Period, shall be exclusively on the Member.
Destruction of Original Checks: You will be fully responsible for the destruction of the Checks. You agree to use commercially reasonable method(s) to destroy original Checks after the required Retention Period has expired. You agree to destroy and dispose of the original Checks with a high degree of care, including selecting and implementing appropriate destruction and disposal procedures. You are required to implement such procedures to ensure that the original Checks are not accessed by unauthorized persons during the storage, destruction and disposal process and, once destroyed, the original Checks are no longer readable or capable of being reconstructed (e.g., through the use of competent shredding equipment). The risk of loss associated with the accidental inclusion of a physical Check in the Check collection process or with a lost, destroyed, stolen or misplaced Check shall be exclusively on the Member.
Member Representations and Warranties: You represent and warrant that all Checks transmitted through the use of the Services are made payable to the Member or Account joint-owner , all signatures and endorsements on each Check are authentic and authorized, and each Check has not been altered.
Prohibited Checks: You agree that Checks scanned through the use of the Services will not; be payable to any person or entity other than You or a joint-owner on the account; is prohibited by, or received in violation of, any law, rule or regulation; You know or suspect (or should know or suspect) is fraudulent or otherwise unauthorized by the owner of the account on which the check is drawn; has been previously cashed or deposited; is post-dated or more than six (6) month old; is payable to cash; is irregular in any way; does not bear a signature of the person on whose account the check is drawn; or is drawn on financial institutions that are located outside the United States.
Endorsement of Checks: You agree to properly endorse each Check prior to submitting such Check through the use of the Services. Each endorsement MUST include “FOR CFCU MOBILE DEPOSIT ONLY“.
Image Quality: You are responsible for inspecting and verifying the quality of the images associated with Image Items, thus ensuring that the digitized images of the front and back of original Checks are legible for all posting and clearing purposes by the Credit Union. Specifically, you are representing and warranting to Credit Union that:
a. The Image Item is an accurate representation of all information on the front and back of the original Check at the time the original Check was converted to an Image Item, and the Image Item contains all endorsements from the original Check necessary to permit Credit Union to:
1. Acquire rights of a holder in due course in the collection process of Checks and other items;
2. Handle, process, maintain and destroy original Checks; and
3. Ensure that neither Credit Union nor any other financial institution (depositary, collecting or payor), drawee, drawer or endorser receives presentment or return of, or otherwise is charged for, a Check or Image Item more than once in any form.
b. Each Image Item (or related electronic data file) contains a record of all MICR line (special characters printed on the bottom of a check) information required for a substitute check and otherwise satisfies all of the requirements of the American National Standards Institute (ANSI) X9.37 standards for image quality required by Check 21 and Regulation CC for the creation and/or transferring of a substitute check created from that Image Item;
Adjustments: Once an Image Item is captured, the System will display captured encoded fields for Your review. You will be required to make corrections to encoding not read or missing from the scanned Check, including entering the legal amount of the Check. We reserve the right to adjust Your deposit after You have submitted it for processing. Adjustments are to correct mistakes in the value of Image Items deposited, mistakes in encoding, or for missing or illegible Image Items.
Termination: We are permitted to terminate any or all of the Remote Deposit Services immediately should You breach any part of this Agreement or of the Membership Agreement. We are also permitted to terminate any or all of the Services immediately if We are no longer able to provide such Services.
Confidentiality: You acknowledge that We will disclose information to third parties about Your Account or the Image Items You deposit:
1) To enable Your access to the Services and the System,
2) When it is necessary for completing deposits, and
3) As required by law.
NOTE: Your deposit of an Image Item is subject to Our verification and final inspection process. We may at any time deposit an Image Item or return all or part of a deposit of multiple Image Items to You without prior notice. We are under no obligation to inspect or verify any Image Item to determine accuracy, legibility or quality of the Image Item or MICR line information associated with the Image Item, or for any other purpose. However, We may correct or amend MICR line information associated with an Image Item to facilitate processing of the Image Item or a substitute Check created from that Image Item. We may process and collect an Image Item or a substitute Image Item through one or more check clearing houses, Federal Reserve Banks, or other private clearing agreements with other financial institutions. We may hold and use funds in any deposit Account of Yours following termination of this Agreement and the Services for such time as We may reasonably determine to be necessary for us to be assured that no Image Item processed by Us prior to termination may be returned, charged back, or otherwise become a source or cause for any loss, liability, cost, exposure or other action for which the Credit Union may be responsible, with such right being in addition to any other rights We may have with respect to Your Accounts. Without limitation, You recognize that under the Rules, the UCC, Regulation CC and the rules of any image exchange network, Our representations and warranties to others with regards to Image Items and substitute Checks may expose the Credit Union to claims for several years following processing of any particular Image Item or substitute Check.
a. If a payor financial institution returns an Image Item to Us for any reason, We may charge Your applicable Account for the returned Image Item, whether or not the return is timely and proper, and we may further either:
1. Return the Image Item to You; or
2. Re-present it to the payor financial institution before returning it to You. Items may be returned as Image Items, rather than substitute Checks, as agreed by the parties. If a payor financial institution or other third party makes a claim against Us or seeks a re-credit with respect to any Image Item processed, We may provisionally freeze or hold aside a like amount in the applicable Account pending investigation and resolution of the claim;
b. Immediately suspending the Services or the System or the processing of any Check or corresponding electronic Image Item if We have reason to believe that there has been a breach in the security of the Services or System, fraud involving Your Account(s) or Check(s), or any uncertainty as to the authorization or accuracy of electronic Image Items, including the right to process electronic Image Items on a collection basis at any time; and
c. Refusing to process any non-conforming Image Items, including without limitation any Image Items that do not meet the definition of a “Check” set forth herein.
Contact Information: Notifications required by this Agreement are to be directed to Us at the address or phone numbers listed below.
Cornerstone Financial Credit Union
PO Box 120729
Nashville, Tennessee 37212-0729
615-385-6866 or toll-free 1-800-342-2316