When you enroll in Virtual Branch, you will be prompted to agree to the following Terms & Conditions:

Financial Assurance Federal Credit Union
Online Banking at Financial Assurance Federal Credit Union
Terms and Conditions

In these Terms and Conditions "you", "your", and "yours" refers to each of the individuals that will be using Online Banking. "We", "us", "our", "ours", "Credit Union" and "FAFCU" refers to The Financial Assurance Federal Credit Union. "Account" refers to the deposit and credit accounts you designated on your enrollment form or which you designate at a later time. These Terms and Conditions govern the Virtual Branch Banking services for which you have enrolled. Virtual Branch is an electronic banking and information service that permits you, through the use of your personal computer and your Internet service provider, to access your Accounts through the Internet using a browser.

You agree that your use of Virtual Branch as described in this agreement is further subject to the terms and conditions of the primary account agreement(s) pertaining to your account(s) which you signed at the time of opening your account(s) with Financial Assurance FCU.

If your account is a joint account, each of you agrees that any account holder has the authority to use Virtual Branch. You both agree to be jointly and liable under the terms of this Agreement and all other Agreements which govern your account.

1. Use of Virtual Branch.  To become eligible to use the Virtual Branch service, complete the online enrollment process. Before you use Virtual Branch you should read these Terms and Conditions and the instructions we provide. Your use of any of the Virtual Branch services means that you agree to these Terms and Conditions and the online instructions.

Your access to Virtual Branch will be determined in our sole discretion. Subject to applicable law, we reserve the right to modify, suspend, or terminate access to Virtual Branch at any time without notice or refund of any previously incurred fees.

2. Deposit and Credit Agreements.  These Terms and Conditions are in addition to any deposit Account, credit Account or other agreement you have with us relating to your Accounts, including any disclosures made pursuant to such agreements. You must maintain your Accounts in good standing with Financial Assurance Federal Credit Union in order to perform transactions through those Accounts under Virtual Branch.

3. Equipment.  The Online instructions for Virtual Branch describe minimum requirements for the equipment you will need. The installation, maintenance and operation of your equipment, including, but not limited to, your computer modem, and the internet access through your internet access provider is your responsibility. We are not responsible for any errors or failures from any malfunction of your equipment, and we are not responsible for any computer virus or related problems that may be associated with the use of Virtual Branch. WE DISCLAIM ALL WARRANTIES REGARDING VIRTUAL BRANCH, EXPRESSED OR IMPLIED, INCLUDING BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

4. Use of Other Software.  If your Equipment has the capability, you may import information from Virtual Branch to your computer for use with your own personal financial software. We are not responsible for damages arising from financial software that you use in connection with Virtual Branch. You agree that we are not responsible for any failure or loss caused if such financial software or any of your personal hardware or other software is not compatible with our system.

5. Description of the services available through Virtual Branch.  Virtual Branch allows you to perform some or all of the following functions on your Accounts.

• Obtain account balances, transaction information, and request check images for your Accounts
• Obtain account balances, transaction information, and request check images for your Accounts
• Send electronic messages to us
• Inquire about recent account history
• Send stop payment orders for checks you have drawn on your Account
• Request check withdrawals from Credit Union Accounts that we allow
• Submit Loan and Credit Card Applications Online
• Re-order personal checks for your existing checking account
• Transfer funds between your Credit Union Account and another account at an outside financial institution

1. Your ability to transfer funds from your Primary Share Suffix A Account is limited by federal law, as stated in your Share Account Agreement. By law there may be a maximum of six transfers from these Accounts per monthly statement cycle initiated on your computer (or by means of telephone, wire or preauthorized transfers), of which no more than three in the aggregate may be made by debit card or ATM point of sale (other than a withdrawal from an automated teller machine).
2. Transfers are subject to funds availability. Transfers must be received prior to 3:00 P.M to be considered received on a specified date. Transfers between Accounts on any business day may or may not be completed until after the close of business. Therefore, if you want a transfer to be made prior to the start of the business day, it must be scheduled for the prior business day.
3. No transfers may be made from any Account that requires two or more signatures or from certain fiduciary or restricted Accounts. You may not transfer funds to or from a certificate of deposit Account. You may not transfer funds online from a Vacation or Holiday Club Account.
4. Balance and transaction information provided on any day may be current only as of the close of business on the preceding business day. Transactional information for your Accounts will be available from Virtual Branch for the last ninety days.
5. If you want to send us confidential information, please use the contact us feature available in the Online Banking screen. We may not immediately receive messages. No action will be taken on your message until we actually receive it and have a reasonable opportunity to act on it. See Section 10 if you need to contact us immediately (for example, to report an unauthorized transaction from an Account, to stop payment on a check, to report a lost or stolen credit card).
   You cannot use e-mail or electronic messages to transfer funds between Accounts or to conduct transactions. You must follow the instructions for Online Banking to accomplish these activities.
6. For security reasons, we may limit the frequency and dollar amount of transactions from your Account.
7. All bill payment services, which may or may not be provided by the Credit Union in conjunction with Virtual Branch, are governed by the separate Terms and Conditions of the Bill Payment Service.
8. We may modify Virtual Branch from time to time in accordance with applicable law. Additional services or accounts may become accessible through Virtual Branch in the future. As each becomes available you will be provided with a description of each such service or account and fees if required by law and you will be given the opportunity to access each through Virtual Branch. Your use of these new services or accounts shall mean that you agree to any additional terms and conditions as well as payment of fees. Also, we reserve the right to delete or modify any services or accounts from Virtual Branch.
9. All Account to Account transfer services, which may or may not be provided by the Credit Union in conjunction with Virtual Branch, are governed by the separate Terms and Conditions of the Funds Transfer Agreement and Disclosure Statement.

6. Security Codes.  You agree to keep your User ID and your password confidential to prevent unauthorized access to your Accounts and to prevent unauthorized use of Virtual Branch.

Your User ID and password may be revoked or canceled at any time without giving you prior notice to assist us in maintaining the security of your Accounts. The User ID and password are used to identify you as an authorized user of Online Banking. You agree not to reveal your User ID or password to any person. The security of your Accounts depends upon you maintaining the secrecy of your User ID and password. If you believe that the secrecy of your User ID and password has been compromised you should call us AT ONCE at the number in Section 10, and you should change your password in accordance with the Online Banking instructions.

7. Periodic Statements.  Your periodic statements for your Accounts will include any transactions you authorize using Virtual Branch.

8. Business Days and Hours of Operation.  For the purposes of these Terms and Conditions, our business days include every day other than Saturday, Sunday or one of the state or federal holidays.

9. Your Liability.  You are responsible for all transfers you authorize using Virtual Branch. If you permit other persons to use Virtual Branch, or your User ID and password, despite your agreement not to do so, you are responsible for any transactions they authorize to or from your Accounts.

10. Contact in Event of Lost or Stolen User ID and/or Password or Unauthorized Transactions.  If you believe that your User ID and/or password has been lost or stolen or that someone transferred or may transfer money from your Account without your permission, call us immediately at:

Telephone Financial Assurance Federal Credit Union at 201-743-5355
or Send us a fax to 201-743-6520.

Or write us at:

  Financial Assurance Federal Credit Union
  525 Washington Blvd. 33rd floor
  Jersey City, New Jersey 07310
  Attention: Member Service

11. Our Liability.  We will be responsible for your actual losses if they were directly caused by our failure to complete a transfer to or from your Accounts on time or in the correct amount according to our agreements with you. However, there are some exceptions. We will not be liable, for instance:

1. If, through no fault of ours, you do not have sufficient available funds in your Account to complete a transaction from that Account (see our Funds Availability Facts), or if withdrawals from any of your Accounts have been prohibited by a court order such as a garnishment or other legal process, or if that Account has been closed.
2. If applicable the transfer would go over the credit limit on your Personal Line of Credit.
3. If you have not properly followed your Virtual Branch instructions on how to make a transfer or if your computer or software fails or malfunctions.
4. If you have not given us complete, correct and current instructions so that we can make a transfer.
5. If we have reason to believe that a transfer has not been properly authenticated or is fraudulent.
6. If Virtual Branch was not working properly and you knew or should have known about the breakdown when you attempted to authorize a transfer.
7. If circumstances beyond our control prevent the making of a transfer, despite reasonable precautions that we have taken. Such circumstances include delays or losses caused by equipment failure or breakdown, acts of God, or other conditions beyond our control such as strikes, insurrection, war, and fire, lack of energy, government acts, and regulation. We will be responsible for acting only on those instructions sent through Virtual Branch which we actually receive.

For other exceptions to our liability see the Electronic Fund Transfer Disclosure Agreement.

Our sole responsibility for an error in a transfer will be to correct the error, but in no case shall we be liable for any indirect, incidental, special or consequential damages, except to the extent such limitation of liability is not permitted by law.

12. Error Resolution.  In case of errors or questions about your Virtual Branch transactions, contact us immediately.

Telephone Financial Assurance Federal Credit Union at 201-743-5355
Or send a fax to: 201-743-5355

Or write us at:
  Financial Assurance Federal Credit Union
  525 Washington Blvd. 33rd floor
  Jersey City, New Jersey 07310
  Attention: Member Service

13. Charges for Online Banking.  There is currently no charge for using Virtual Branch for inquiries, transfers or withdrawals. Requests for check images or stop payments are subject to the same fees as disclosed in the Account Fees provided to you for your credit union membership. We reserve the right to change or add fees at any time. Should the fees or charges change, a schedule of Deposit Account Fees and Charges will be provided to you via e-mail, statement message, statement insert or will be posted as a notice on our website at www.fafcuny.org. Any fees for Virtual Branch will be listed on this schedule. In addition to such charges, the service charges and fees provided for the Deposit and Credit Agreements will continue to apply.

14. Stop Payments.  You can use this feature to stop payment on a check that you have drawn on your Account. A stop payment order sent through Virtual Branch will be considered to be a written stop payment order and is good for 6 months. The Credit Union will have no liability for failing to act on a stop payment order if the stop payment order does not describe the check with reasonable certainty, or if the Credit Union does not have a reasonable opportunity to honor the stop payment order, even if the failure to stop payment causes other checks to be returned for insufficient funds. Prior to sending a stop payment order, the Member should first verify that the item has not already been posted to the Account.

We may not immediately receive a stop payment order sent through Virtual Branch. We will make reasonable efforts to act on a stop payment order on the Business Day that you send the stop payment order through Virtual Branch if we receive it by 3:00 p.m. To ensure that a stop payment order is received immediately, call the Credit Union at 201-743-5355.

To cancel a stop payment order you must send us a written notice.

15. Disclosure of Account Information to Others.  We will disclose information to third parties about you, your Accounts or the transfers you make under the following circumstances:

1. any party assisting us in providing Virtual Branch;
2. Where it is necessary for completing transfers;
3. In order to verify the existence and condition of your Accounts for a third party, such as a payee or holder of a check or a credit bureau;
4. In order to report our experience regarding your Accounts or Virtual Branch transactions to financial institutions and credit reporting agencies;
5. To collect any debt that you may owe to us;
6. We may collect member Account data for the purpose of learning about aggregate member usage patterns, member telephone inquiries, and the effectiveness of Virtual Branch, but shall not disclose individual identifiable information except as provided in this Section;
7. In order to comply with laws, government agency rules or orders, court orders, subpoenas or other legal processes, in order to give information to any government agency or official having legal authority to request such information; or
8. If you give us your written permission.

16. Data Recording.  The information and e-mail messages you enter on Virtual Branch may be recorded. By using Virtual Branch, you consent to such recording.

17. Amendment of these Terms and Conditions.  We may at any time (subject to legal restrictions) amend these Terms and Conditions. We will notify you of any amendment to these Terms and Conditions prior to the effective date of the amendment. Virtual Branch and your Accounts will be governed by these Terms and Conditions as amended.

18. Assignment.  We may assign our rights and delegate our duties under these Terms and Conditions to any other party.

19. Termination.  We may terminate these Terms and Conditions and your ability to use any or all Virtual Branch services at any time for any reason. We will try to notify you in advance, but we are not obligated to do so. You may terminate these Terms and Conditions by giving written notice or by notice using the contact us feature within Virtual Branch. We will continue to maintain your Accounts until you notify us otherwise. Once we have acted upon your termination notice, we will make no further transfers from your Accounts, including any transfer you have previously authorized. If we terminate your use of Virtual Branch, we reserve the right to make no further transfers from your Accounts, including any transactions you have previously authorized.

20. Severability.  If any provision of these Terms and Conditions is held invalid, illegal, void or unenforceable by any rule or law, administrative order or judicial decision, all other provisions of these Terms and Conditions shall remain in full force.

21. Governing Law.  These Terms and Conditions are governed by and shall be construed in accordance with the laws of the State of New York and applicable federal law.

22. New Features.  From time to time we may introduce new features, or modify or delete existing features. We shall notify you of any of these changes in accord with applicable law. By using any new or modified features when they become available, you agree to be bound by the rules concerning such features.

23. Other Agreements.  In addition to the agreement, you agree to be bound and comply with such other terms and conditions as we may furnish to you in connections with either this service or products which may be accessed via this service, including but not limited to Financial Assurance FCU's rules and regulations, the internet terms of use and privacy policy accessible through the homepage of our website.