Terms and Conditions for Online Banking and Mobile Banking

Table of Contents

UPDATES AND CHANGES For 8/1/2024 Version

1. Online Banking Terms and Conditions Section VIII. EXTERNAL TRANSFERS.

  • A. HOLDS and FUNDS AVAILABILITY added to the terms. All external transfers originated by Online Banking and moving funds greater than $1500.00 to Dow Credit Union for the external source will have holds placed for the entire transfer with the release of the funds occurring by 7:00pm ET on the 2nd Business Day following the day of deposit.

  • B. Example Release schedule is included.

2. Online Banking Terms and Conditions Section XVI. Deposit Check

  • A. Added section YOUR RESPONSIBILITY FOR CHECK NEGOTIATION. - CHECKS DEPOSITED IN YOUR ACCOUNT.

  • B. Updated Deposit Check definition for BUSINESS DAY. For the Deposit Check service, a Business Day is Monday through Friday, except the days when Federal Reserve Banks Financial Services holidays are observed.

  • C. FUNDS AVAILABILITY section updated to increase from $225 to up to $300 per day immediate availability and new availability schedule for releasing holds on Deposit Checks.

I. Introduction

These terms and conditions (the “Agreement”) between you and Dow Credit Union govern the use of Dow Credit Union’s Online Banking services. This voluntary use service permits Dow Credit Union members to perform a number of banking functions on Accounts linked to Online Banking through the use of a personal computer, tablet or mobile device. This Agreement, along with Dow Credit Union’s Account Agreement and Disclosures (“Account Agreement”), Privacy Notice and Disclosure (“Privacy Policy”), and Electronic Signature Disclosure and Agreement (ESign) explains the terms and conditions governing your Accounts and Dow Credit Union’s Online Banking service. Please read this Agreement carefully. By enrolling electronically and by using Online Banking, you agree to be bound by the terms and conditions of this Agreement. This Agreement also contains important information regarding what you should do if you believe that an unauthorized person has gained access to your Accounts or an error has occurred. Access to current versions of the Agreement for future reference is available https://www.dowcreditunion.org/disclosures/online-banking/. When you use Online Banking as described in this Agreement, you agree to the terms and conditions of this Agreement.

Depending on your current services and selections within Online Banking, users commonly perform these functions: transfer funds, view transaction activity and balance information on their accounts, perform self-service account maintenance, request additional services and products, communicate requests through Messages, establish Alerts for transaction limits, and make deposits to savings or checking accounts using Deposit Check. 

II. Definitions

Throughout this Agreement, the following terms will have the meanings set forth below:

"2-Step Verification" means when you sign in from an Access Device or browser that isn’t recognized, you’ll be asked for a 2-Step Verification code that will be sent to you via a method that you choose during Online Banking registration. The methods to receive the code are through Authy (a free app on your iOS, Android, Mac, or Windows device), a SMS text message to your mobile phone, or through a voice call to your landline or mobile phone.

"Access Device" means any device used to connect to Online Banking. Typical Access Devices will include a personal computer, a tablet, or a smart phone.

"Account" means your Dow Credit Union checking and all savings accounts, of which you are an owner.

"Account Agreement and Disclosures" are the account agreements that detail deposit and membership banking services between account owners and Dow Credit Union. The Agreement and Disclosures are provided at the establishment of the account.

"Amount Due" the amount reflected on your monthly statement and loan agreements as Regular Monthly Payment or Amount Due.

"Biller" is the eBill Payee that you wish payment to be directed through Bill Pay after electronic bill delivery.

"Bill Pay" means Dow Credit Union Bill Pay service which allows you to perform payments to third parties from your Primary Checking Account.

"Bill Payment" means a payment to a Payee generated through Bill Pay.

"Business Day" means Monday through Friday, excluding Saturday, Sunday and banking holidays.

"Carrier" is the proprietary network infrastructures belonging to telecommunications service provider that you have contracted with.

"Consumer" means the owner of a personal account.

"Consumer Account" means all Accounts at Dow Credit Union.

"Conversation" means a communication thread within Messages.

“Cutoff Time” means the time in the Eastern Time Zone where transfer and loan payment requests will be effectively dated for the day in which the transfer was initiated. Transfers and loan payments made after the Cutoff Time will show the transaction date of the next calendar date.

"Deliver by Date" (also referred to as "Payment Date") is the day you would like your Payee to receive your Bill Payment. A “Delivery by Date” that falls on a non-Business Day will be modified to be scheduled for the previous Business Day. This is not a guaranteed payment date.

"Deposit Check" (also referred to as "Mobile Check Deposit") means the use of an eligible access device to take an image of a paper check and submit it for credit to your checking or savings accounts.

"Due Date" is the date reflected on your Payee statement for which the payment is due and does not include any grace period.

"Eligible Accounts" are those types of accounts which may be accessed for Online Banking. Eligibility is based on account type, access service and your account relationship and may change from time to time.

"External Account" an account at another financial institution.

"External Transfers" a service that allows Online Banking users to add their eligible External Account to Dow Credit Union Online Banking for the purpose of transferring money via Standard Automated Clearing House (ACH) transfer between your accounts at Dow Credit Union and the External Accounts.

"Geolocation Services" Geolocation on an access device means a service is used to find the actual geographic location of an access device using, among other things, the device's IP address, MAC address, GPS coordinates, hardware and software embedded production numbers, and Wi-Fi positioning system.

"Late Charges" a fee that is disclosed in the loan contract for payments that are not received within the grace period of the next payment due.

"Member" (also referred to as "Primary Owner") is a designation given to a Consumer Account owner that is listed as primary owner of the account. Each Consumer Account has only one Member.

"Messages" (also referred to as "Conversations") is a secure method to send and receive messages to and from Dow Credit Union through the Online Banking.

"Mortgage Center" a menu interface in Online Banking on a mortgage loan that provides additional information about the mortgage loan status.

"Notices" means all disclosures considered “notices” by Dow Credit Union. These include, but are not limited to, Courtesy Pay notices, collection notices, and CD prematurity notices.

"Online Banking" means Dow Credit Union’s online banking service which allows you to access Account information, conduct transactions, pay bills, and perform other transactions on Eligible Accounts online using an Access Device. Online Banking includes Bill Pay, Messages, and access to ancillary services (e.g. Documents, Visa Credit Card portal, Loan and Account Applications, and Forms).

"Password" means the confidential password, biometric authentication, or other confidential code selected by you or assigned to you by Dow Credit Union for identification purposes in connection with the use of Online Banking.

"Payee" is the individual, company, bank or credit union that you wish payment to be directed through Bill Pay. It can be a business, merchant, professional, individual, family member, or friend, located within the United States or its territories.

"Partial Payments" are payments on a loan account that are not enough to satisfy the "Amount Due".

"Periodic Statement" means all disclosures that are required or may be provided in connection with your Account. This includes, but is not limited to, changes in terms to your Account Agreement and Disclosures, this Agreement, and any error resolution notices and Periodic Statements required under the Electronic Fund Transfer Act.

"Preauthorized Transfer" means a Bill Payment, preauthorized transfer, External Transfer, or other transfer scheduled in advance to recur at substantially regular intervals without further instruction from the member.

"Process Date" is the day on which your Account will be debited for Bill Pay transactions based on the Delivery by Date.

"Primary Checking Account" means the checking account under your main membership account.

"Push Notification" means the delivery of information from Online Banking to an access device. Push Notifications can be viewed in the Messages service. Alerts assigned by you may be designated to be delivered as a Push Notification.

"Schedule Payment" is a payment that has been scheduled through Bill Pay that has not begun processing.

"Software" means software provided by Dow Credit Union as part of Online Banking in combination with your access device’s Internet services, applications, and/or text messaging capabilities.

"Tax Statements" means all disclosures required to be provided by the Internal Revenue Service. This includes, but is not limited to, 1099-MISC and 1099-INT.

"Transaction" means any electronic banking transaction, including a deposit, withdrawal or bill payment initiated electronically.

"Transfer" means any banking transaction, including deposits or withdrawals, that is initiated through an electronic terminal, telephone, computer, electronic check conversion, or magnetic tape for the purpose of ordering, instructing, or authorizing a debit or credit to your Account.

"Transfer Instructions" is the information provided by you to Online Banking for a transfer to be made (such as, but not limited to, account number and Delivery by Date).

"Unapplied Funds" as it pertains to Mortgage Loans accessed through Mortgage Center, these are funds held in suspense that cannot be applied to the loan payment until the full amount of the Payment Due has been paid.

"User Name" means the code selected by you or assigned by Dow Credit Union to you or the person you designate as authorized for identification purposes in connection with the use of Services.

"You," "Your", and "Yours" refer to each member who has enrolled in Dow Credit Union’s Services.

III. Accessing Your Eligible Accounts

Every Consumer Account at Dow Credit Union is assigned a unique account number and is owned by a primary owner (Member). Joint account owners may be added to Consumer Accounts as allowed by the Account Agreement and Disclosures. You can access your Eligible Accounts through Online Banking. By enrolling in Online Banking, you will be given access capability on all Dow Credit Union Accounts of which you are an owner (including joint Accounts) and which are considered Eligible Accounts.

Online Banking access to eligible accounts is available to the person designated as the primary owner (Member) on a Consumer Account for which Online Banking services have been established.

IV. Terms and Conditions

USE. You accept responsibility for making sure that you understand how to use Online Banking before you actually do so, and you use Online Banking in accordance with this Agreement and any instructions posted within Online Banking or at dowcreditunion.org. You also accept responsibility for making sure that you know how to securely use your access device and Online Banking. You agree that if your access device is shared with others that you are responsible to logout of the Online Banking to prevent unauthorized access. In the event Dow Credit Union changes or upgrades Online Banking, you are responsible for making sure that you upgrade your access device and understand how to use the changed or upgraded Online Banking. Dow Credit Union will not be liable to you for any losses caused by your failure to properly use Online Banking.

RESTRICTIONS ON USE. You agree that you are responsible for complying with all applicable laws in your use of the Online Banking service and the Software, and for all communications you send related to the Online Banking service. Dow Credit Union has the right but not the obligation to monitor and remove communication content that it finds in its sole discretion to be objectionable in any way.

You agree that you will not do any of the following:

  • Use any robot, spider, scraper, deep link or other similar automated data gathering or extraction tools, program, algorithm or methodology to access, acquire, copy or monitor any portion of the Online Banking service or the Software;
  • Use or attempt to use any engine, software, tool, agent, or other device or mechanism (including without limitation browsers, spiders, robots, avatars or intelligent agents) to navigate or search the Online Banking service and the Software, other than the search engines and search agents available through the Online Banking service and the Software, and other than generally available third-party web browsers (such as Microsoft Edge, Google Chrome or Safari);
  • Post or transmit any file which contains viruses, trojan horses, worms, cancelbots or any other contaminating or destructive features, or that otherwise interfere with the proper working of the Online Banking service and the Software;
  • Attempt to decipher, decompile, disassemble, or reverse-engineer any of the software comprising or in any way making up a part of the Online Banking service, including the Software;
  • Attempt to gain any unauthorized access to any portion of the Online Banking service or the Software; or
  • Violate any law, statute, ordinance or regulation in connection with your use of the Online Banking service and the Software.

Additionally, you agree that you will not use the Online Banking service or the Software:

  • To promote, post or transmit any unlawful, fraudulent, libelous, defamatory, obscene, pornographic, profane, threatening, abusive, hateful, offensive, or otherwise objectionable information of any kind, including without limitation content that promotes or would result in criminal offense, give rise to civil liability, or otherwise violate any local, state, national or foreign law,
  • To defame, abuse, harass or threaten others,
  • To infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the laws of any jurisdiction;
  • In manner that would impose an unreasonable or disproportionately large load the Online Banking service and the Software, or
  • In a manner that may cause Dow Credit Union or its service providers to lose any of the services from its service providers, payment processors or other vendors.

ACCOUNT OWNERSHIP. You represent and agree that you are the legal owner of the Accounts and other financial information that may be accessed via the Online Banking. You represent and agree that all information you provide to us in connection with Online Banking is accurate, current, and complete, and that you have the right to provide such information to us for the purpose of using Online Banking. You agree to not misrepresent your identity or your Account information.

PASSWORD AND SECURITY Your Username, Password, biometric authentication, and 2-Step Verification are security verifiers intended to help prevent unauthorized entry and access to your Accounts.

You agree that you are solely responsible for all transactions, or use of any data, information, or services obtained through the use of your security verifiers. You agree that you must abide by and use the password best practices detailed below.

Dow Credit Union recommends following these password best practices:

1. Do not share your password,

Please ensure that you are not sharing your password with anyone else. If you suspect that someone has acquired your password or are not confident in the privacy of your password, please follow these easy steps to change your password.

2. Do not use the same password for multiple accounts or different sites,

Dow Credit Union recommends that you never use the same password for multiple accounts or different sites. If one of the accounts or services becomes compromised, all others which use that password are at risk. If your current password has been used for any other site or service, please follow these easy steps to change your password.

3. Create a Strong Password

  • Use both upper and lower-case letters, numbers and include special characters
  • Create longer passwords
  • Use a phrase with a combination of words, such as a favorite lyric to a song, to make a longer password easier to remember

4. Dow Credit Union recommends periodically changing your password. If you believe that your password has been compromised in any way, change your password immediately.

Dow Credit Union may require you change your Password at any time, for any reason.

You agree that these procedures represent reasonable security procedures for Online Banking.

If you violate the terms and conditions and allow other persons or entities to use Online Banking or your Password or other means to access your Account, you are responsible for any transactions they authorize. These transactions are deemed Transfer Instructions that you authorize.

If it has been more than one (1) year since you changed your password, you may be prompted to update your password when signing-in to your account.

BIOMETRIC AUTHENTICATION. Biometric authentication refers to a system that relies on the unique biological characteristics of the user ("biometric identifier") to verify identity for secure access. For your convenience, Dow Credit Union may allow the use of biometric authentication as an alternate method to authenticate to your Accounts via supported access devices. Use of some biometric authentication (e.g. fingerprint authentication, facial recognition) requires that your biometric identifier be stored securely on your access device. Please be aware that allowing any other individual to use a biometric identifier on your mobile device will provide them to access your eligible accounts with your full authorizations. You agree that you are responsible for unauthorized access to your eligible accounts resulting from the use of a biometric identifier or to your account information and any misappropriation, or alteration, of your account information or data, to the extent the unauthorized access results from your acts or omissions to protect and use your mobile device securely, or resulting from failures in the mobile device’s biometric authentication security system. You indemnify Dow Credit Union and hold it harmless for any loss or expense caused by any person with the apparent authority to access your Accounts.

UNAUTHORIZED ACCESS. If you believe that your Password or other means to access your Account has been lost or stolen or that someone may attempt to use Online Banking without your consent or has transferred money without your permission, you must notify us at once by contacting us at 989.835.7794 or 800.835.7794 or by stopping in to Dow Credit Union.

No Dow Credit Union employee or agent will contact you via Online Banking, email or phone call requesting your Username/Password or any Account information. If you are contacted by anyone requesting this information, please contact Dow Credit Union immediately at 989.835.7794 or 800.835.7794.

CANCELLATION AND REINSTATEMENT OF ONLINE BANKING REQUESTS. You may discontinue use of any Service at any time by calling us at 989.835.7794 or 800.835.7794, stopping in to Dow Credit Union or sending us cancellation instructions in writing to:

DOW CREDIT UNION

PO BOX 1649

MIDLAND, MI 48641-1649

In order to reinstate Online Banking, you must contact us.

All Scheduled Bill Payment(s) after the requested Online Banking cancellation date, including some Preauthorized Transfers, will not be processed.

NOTICE OF MONITORING AND IMPOSED SERVICE SUSPENSION / CANCELLATION. Dow Credit Union may use any method including manual inspection or commercially available software to monitor your account activity. The credit union may monitor accounts for anomalous activity including, but not limited to: transactions, account changes, Online Banking IP Address and Device usage, and service usage. If the credit union identifies activity that it deems indicative of fraudulent or inappropriate usage, any or all of the account services may be suspended until further coordination with the Account Holder(s) can clear the activity as appropriate and valid activity. The Credit Union will comply with applicable laws to report suspicious activity with government agencies and law enforcement; such action will not be shared with you.

Dow Credit Union may terminate or suspend your access to Online Banking at any time and for any reason. Dow Credit Union may terminate your access to Online Banking if you engage in unauthorized transactions or gain unauthorized access to information concerning another individual or if unauthorized transactions occur on your Account. Dow Credit Union also reserves the right to suspend access to or terminate Online Banking in the event it is inactive for a period. Neither termination nor suspension shall affect your liability or obligations under this Agreement.

TRANSFERS AND PAYMENTS. Dow Credit Union may, from time to time, limit the number of, the type, and the dollar amounts of any checks, drafts, withdrawals, or transfers made by use of Online Banking, notwithstanding the amount in your Accounts. Limits, on the number or amount, of transactions that may be performed on your Dow Credit Union Accounts are described in the applicable Account Agreement for such accounts.

COMMUNICATIONS FROM Dow Credit Union. Dow Credit Union allows communication of information concerning Online Banking to be sent to you via Messages, via regular mail to the street address you have on file with Dow Credit Union as your active address, or to the email address you have listed as your contact. This is done to help ensure the confidentiality of your Online Banking relationship.

RETENTION OF INFORMATION. The information you enter through Online Banking, including email transmissions, may be maintained by Dow Credit Union in an electronic format.

ALTERATIONS, AMENDMENTS AND TERMINATION. This Agreement may be changed, altered, or amended by Dow Credit Union at any time without your consent. In such event, Dow Credit Union shall provide notice to you electronically in accordance with applicable law. The alterations, amendments and/or changes will be delivered to the Terms and Conditions section available at https://www.dowcreditunion.org/disclosures/online-banking/.

As noted in the Dow Credit Union eSign Disclosure and Agreement, if you opt-out of receiving alterations, amendments, and/or changes electronically, you will no longer be eligible for Online Banking. Any use of Online Banking after the effective date of any change in terms will constitute your consent to such change(s). Further, Dow Credit Union may, from time to time, revise or update the applications, services, and/or related material.

Dow Credit Union reserves the right to terminate Online Banking and this Agreement at any time with or without notice.

CONTACT INFORMATION. It is your responsibility to ensure that your contact information is current and accurate. This includes, but is not limited to, name, address, phone numbers, and email addresses. Changes can be made within Online Banking, by stopping in to Dow Credit Union or by contacting us at 989.835.7794 or 800.835.7794.

ADDITION OF NEW SERVICES. Dow Credit Union may, from time to time, introduce new services for Online Banking. If you choose to make use of any new service, you agree to be bound by any terms and conditions applicable the new service.

DISCLOSURE OF ACCOUNT INFORMATION TO THIRD PARTIES. Dow Credit Union’s Privacy Notice & Disclosure explains how Dow Credit Union collects and protects personal information and how and why in certain limited cases Dow Credit Union may share such information.

DISPUTES. In the event of a dispute regarding Online Banking, you and Dow Credit Union agree to resolve the dispute by looking to this Agreement. You agree that this Agreement and your Account Agreement are the complete and exclusive statement of the agreement between you and Dow Credit Union which supersedes any proposal or prior agreement, oral or written, and any other communications between you and Dow Credit Union relating to the subject matter of this Agreement. If there is a conflict between what an employee of Dow Credit Union says and the terms of this Agreement, the terms of this Agreement shall prevail.

V. LIMITATIONS AND LIABILITIES

TRANSACTION LIABILITY. If Dow Credit Union does not complete a transfer to or from your Account on time or in the correct amount according to our agreement with you or in accordance with your Transfer Instructions, we will redo the transfer for the correct amount.

However, there are some exceptions. Dow Credit Union shall incur no liability, including no liability under the Remedy provision of Section XIV. BILL PAY, if Dow Credit Union is unable to complete the payment in a timely manner because: a) your Account does not contain sufficient funds to complete the transaction; b) the transaction exceeds the limit of your overdraft protection options; c) the payment processing center for Online Banking is not working properly and you knew or were advised about the problem before completing the transaction; d) you do not provide Dow Credit Union with correct Payee Account information, or the correct name, address, phone number, or account information for the Payee, or if a Payee does not process a payment correctly, or in a timely manner; e) circumstances beyond Dow Credit Union’s control (such as, but not limited to, telecommunication failure, fire, flood, or interference from an outside force) prevent or delay the transaction; f) Dow Credit Union has reason to believe the transaction is not authorized by you; and/or g) there may be other exceptions stated in our agreement(s) with you.

LIABILITY. TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT WILL DOW CREDIT UNION BE LIABLE FOR ANY DAMAGES ARISING OUT OF THE USE OR INABILITY TO USE THE ONLINE BANKING SERVICE, INCLUDING BUT NOT LIMITED TO ANY GENERAL, SPECIAL, DIRECT, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES, EVEN IF ADVISED OF THE POSSIBILITY THEREOF, AND REGARDLESS OF THE LEGAL OR EQUITABLE THEORY (CONTRACT, TORT OR OTHERWISE) UPON WHICH ANY CLAIM IS BASED. IN ANY CASE, PROVIDER'S LIABILITY ARISING OUT OF THE USE OR INABILITY TO USE THE ONLINE BANKING SERVICE SHALL NOT EXCEED IN THE AGGREGATE THE SUM OF $250. SOME JURISDICTIONS DO NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY FOR CERTAIN TYPES OF DAMAGES, SO SOME OF THE ABOVE LIMITATIONS MAY NOT APPLY TO YOU.

EXCLUSIONS OF WARRANTIES. THE ONLINE BANKING SERVICE IS PROVIDED ON AN 'AS IS' AND 'AS AVAILABLE' BASIS WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. NO WARRANTY IS PROVIDED THAT THE MOBILE BANKING SERVICE WILL BE FREE FROM DEFECTS OR VIRUSES OR THAT OPERATION OF THE MOBILE BANKING SERVICE WILL BE UNINTERRUPTED. YOUR USE OF THE MOBILE BANKING SERVICE AND ANY MATERIAL OR SERVICES OBTAINED OR ACCESSED VIA THE SERVICE IS AT YOUR OWN DISCRETION AND RISK, AND YOU ARE SOLELY RESPONSIBLE FOR ANY DAMAGE RESULTING FROM THEIR USE. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES, SO SOME OF THE ABOVE LIMITATIONS MAY NOT APPLY TO YOU.

VI. General Terms

ASSIGNMENT. You may not assign this Agreement without our prior written consent.

NO WAIVER. Dow Credit Union shall not be deemed to have waived any of its rights or remedies hereunder unless such waiver is in writing and signed by Dow Credit Union. No delay or omission on the part of Dow Credit Union in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. A waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions.

CAPTIONS. The captions of sections hereof are for convenience only and shall not control or affect the meaning or construction of any of the provisions of this Agreement.

GOVERNING LAW. This Agreement shall be governed by and construed in accordance with the laws of Michigan.

SERVICE CHARGES. There is currently no fee charged by Dow Credit Union for using Online Banking. However, separate fees may be charged for certain services offered through Online Banking as outlined in the Fee Schedule in the Account Agreement and/or fees charged by your Carrier.

You will be subject to all fees as disclosed in the applicable fee schedule. You agree to pay promptly all fees and charges for the transactions you initiate and authorize us to charge the Account designated by you for the transaction or, if there are insufficient funds in that Account, any other Account of which you are an owner for the fees.

You agree to be responsible for mobile device charges (messaging, data rates, etc.) to the extent that any may be incurred through use of our Online Banking.

VII. Transfer

You may use Online Banking to direct Dow Credit Union to transfer funds between your Accounts. You may also use the Online Banking to direct Dow Credit Union to transfer funds from your Accounts to another member of Dow Credit Union. Dow Credit Union may not process a transfer request if your Account (including any available overdraft account or line-of-credit) does not contain sufficient funds for the transfer.

Dow Credit Union will process all account to account funds transfer instructions from the Online Banking Transfer function received by 11:50pm ET on that calendar day (“Cutoff Time”). During the few hours following the Cutoff Time, Dow Credit Union will be processing the system transactions and finalizing the close of the previous calendar day. Depending on when the funds transfer instructions are initiated and where the system is in the close process, the effective date of the transfer may be the previous calendar date or the current calendar date. To be certain your transfer occurs on a particular date, we recommend your transfer be initiated during the hours of 4am - 11:50pm ET on the date you desire your transfer to be effective dated. If Dow Credit Union permits Preauthorized Transfers from your Account, you can instruct us to make recurring transfers to the same Account or to another one of your Accounts. Once a transfer to another member’s account is processed, it may not be reversed.

You may also use this feature to make an advance from a line-of-credit of which you are a borrower and have been given access credentials through Dow Credit Union. If you request an advance from your line-of-credit, it will be deposited into an Account that you designate in the request process.

VIII. EXTERNAL TRANSFERS

External Transfers will allow Online Banking users to add their eligible External Accounts to Dow Credit Union Online Banking for the purpose of transferring money via Standard Automated Clearing House (ACH) transfer between your accounts at Dow Credit Union and the External Accounts. This service is not available for transfers to or from your Dow Credit Union Health Savings Account (HSA). International Transfers are not supported.

Establishing Online Banking connection to the External Account requires the Online Banking user to enter the exact routing and account numbers for the External Account, as well as demonstrate authority over the External Account.  You agree that you will only attempt to set up and verify accounts for which you have the authority to transfer funds to and from.

To demonstrate authority over the External Account, a process involving of two random amount micro-deposits from Dow Credit Union to the External Account will be used. The micro-deposits are two small test deposits sent to your External Account to verify that we have the correct account information for you. The micro deposits usually arrive in 1-2 business days (you can see them in your External Account's transaction history). Online Banking Users will then need to provide the two micro-deposit amounts as demonstration of authority. Dow Credit Union reserves the right to withdraw any micro-deposits sent to your bank account for verification purposes within 10 Business Days and may be withdrawn in two separate withdrawals or combined into a single small withdrawal amount. It is your responsibility to understand your External Account transaction limits and recognize that the micro-deposit withdrawal may count toward any transaction limits set by your External Account.

Once the demonstration of authority is complete, users may initiate transactions that either deposit funds from their Dow Credit Union account to the External Account or withdraw funds from their External Account to deposit in their accounts at Dow Credit Union. It may take up to three business days before transfers appear at your External Account.

BUSINESS DAYS: A business day for External Transfers is defined as Monday through Friday, excluding any time that the Federal Reserve is closed due to observation of a federal holiday. Transfers will not be processed on weekends or federal holidays. External Transfers scheduled for a weekend or a non-Business Day will be processed on the next Business Day.

POSTING AND CREDITING: Funds transferred into your Dow Credit Union account will be available in accordance with our Account Agreement Credit Entries Transmitted Through the Automated Clearing House. External financial institutions are required to reflect funds transferred to them within two business days of notification of transfer, but most will do it within one business day.

TRANSFERS: Funds will be transferred to/from your External Account and posted to your Dow Credit Union Account on the business day following the processing date selected. Funds must be available on the processing date selected.

CUTOFF TIME: One-time, soonest available transfers submitted before 7:00pm ET will be processed the same business day. After 7:00pm ET, the transfer will be processed on the following business day. Any changes to a scheduled External Transfer may not occur once processing has started at the Cutoff Time.

TRANSACTIONS LIMITS: Up to $5,000.00 per day. The limit applies to the total of all External Transfers for all accounts. Dow Credit Union limits daily transactions initiated by External Transfers to 5 outbound transactions and 5 inbound transactions. Any transfer initiated on a day that is not a business day counts toward the applicable limit for the next business day.

Some accounts may have monthly transfer limits; check Dow Credit Union Account Agreement and Disclosures and your External Account’s terms and conditions for details as applicable.

Dow Credit Union may change transaction limits at any time. Any decrease will be subject to notice, as required by law, but you agree that we may reduce your limits stated above without prior notice upon occurrence of a Disqualifying Event.

DISQUALIFYING EVENT: Each of the following is a "Disqualifying Event":

  • You have had an overdraft, an over-limit item, or an item returned for insufficient funds with respect to any Dow Credit Union Account.
  • Dow Credit Union identifies that the External Transfers are unauthorized.
  • Any of your accounts with Dow Credit Union are not current or are not in good standing.

TRANSACTION PROCESSING FOR EXTERNAL TRANSFERS: Dow Credit Union shall process Entries on your behalf, including by transmittal through an Automated Clearing House (“ACH”) and therefore you agree to abide by all applicable laws of any such clearing house and all applicable rules of the National Automated Clearing House Association ("Nacha") and the applicable automated clearing house (collectively, the "Rules"). Dow Credit Union can reject a transfer if it is not in compliance with all applicable rules.

You shall be solely responsible for the accuracy and completeness of Transfer Instructions transmitted to Dow Credit Union. Dow Credit Union shall not be responsible for any errors in the Instructions or requests for cancellation or amendment of Instructions transmitted to Dow Credit Union by you, and your sole recourse for erroneous or unauthorized Entries or Instructions received by Dow Credit Union from a third-party processor acting on behalf of you is against such third-party processor and not against Dow Credit Union.

Please be advised all funds transfers are subject to your External Account’s terms and conditions. Dow Credit Union is not liable or responsible for any costs or losses incurred as a result of the funds transfer requests from and to such accounts submitted by you.

Settlement for Entries will occur as provided in the Rules, except that Dow Credit Union may, upon notice, require Settlement prior to processing. Payment of a Credit Entry by the Receiving Depository Financial Institution to the Receiver shall be provisional until receipt by the Receiving Depository Financial Institution of final Settlement for such Entry. You acknowledge that, if such final Settlement is not received, the Receiving Depository Financial Institution shall be entitled to a refund from the Receiver of the amount credited and you shall not be deemed to have paid the Receiver the amount of the Entry.

If an Entry describes the Receiver inconsistently by name and account number, payment may be made on the basis of the account number even if it identifies a person different from the named Receiver. In addition, if an Entry describes the Receiving Depository Financial Institution inconsistently by name and identification number or routing number, payment may be made on the basis of the identification number or routing number even if it identifies a financial institution other than the named Receiving Depository Financial Institution.

If you transmit an Entry that instructs Dow Credit Union to debit or credit an account at an External Financial Institution that does not participate in an ACH association, Dow Credit Union may reject such Entry and use reasonable efforts to notify you of such rejection.

You agree to maintain sufficient available balances in your Account to cover your transfer obligations for all Entries transmitted to Dow Credit Union. You authorize Dow Credit Union to obtain payment of any amount due Dow Credit Union with respect to any of the Entries by debiting, without prior notice or demand, the Account or any other account maintained by you at Dow Credit Union. Entries requiring payments in excess of the collected balances available in the Account may be returned unprocessed by Dow Credit Union, provided that Dow Credit Union may, in its discretion, debit other accounts maintained by you at Dow Credit Union in order to complete the Entry. You shall fund the Account with collected funds on or prior to any applicable Settlement Date, or, if so notified by Dow Credit Union, on or prior to the date any Entries are to be processed. In the event that there are not sufficient collected funds in the Account to cover all Entries transmitted to Dow Credit Union by you, such Entries will be completed in the order determined by Dow Credit Union. If you fail to fund the Account as required, then Dow Credit Union may refuse to provide External Transfers to you.

HOLDS and FUNDS AVAILABILITY: With respect to Credit Entries, you agree that Dow Credit Union may place a hold on funds in the amount of the Entry between the time the Entry is transmitted to Dow Credit Union and the time the transfer is completed. Holds will be placed for the entire amount of the transfer when the Credit Entry Transfer is greater than $1,500.00 into your Dow Credit Union deposit account, with the release of the funds occurring by 7:00pm ET on the 2nd Business Day following the day of deposit. During the hold period, you may not withdraw the funds in cash, and we will not use the funds to pay checks, ACH items, or any other items drawn from your deposit account. Holidays that occur during the transaction’s hold period will not count as a Business Day. Your funds will stay in the deposit account you have designated in the External Transfer and may not be moved around within the account or be applied to loans until the hold period expires. Even though your funds are on hold, your deposits will earn interest/dividends beginning the Day of Deposit.

Example Release schedule:

Day of Deposit | Release Day (@7pm ET)

Day of Deposit -- Release Day (@7pm ET)

MONDAY--------the following WEDNESDAY

TUESDAY-------the following THURSDAY

WEDNESDAY-----the following FRIDAY

THURSDAY------the following MONDAY

FRIDAY--------the following TUESDAY

With respect to Debit Entries, you agree that Dow Credit Union may place a hold on amounts credited to the Account between the time the amount is credited and the time the credit becomes final and irrevocable. Dow Credit Union requires you to fund the Account in advance of a Settlement Date in an amount sufficient to cover all Entries scheduled to be settled on such date.

CANCELLATION: External Transfers can be canceled or edited prior to 7:00pm ET on the day the transfer is scheduled to be processed.

Dow Credit Union may cancel your External Transfer request if there is reasonable suspicion that the request was initiated fraudulently. The Credit Union will attempt to contact the account holder when we cancel a request.

IX. Stop Payment

For a check or item that you issue that is not a Preauthorized Transfer and is not made electronically, you may initiate stop payment requests through Online Banking or through any other method authorized in the Account Agreement.

  • For items issued through the Bill Pay service: You must follow the procedures for editing or stopping payments for checks and Preauthorized Transfers issued through Bill Pay contained within the Bill Pay platform and as discussed in Section XIV. BILL PAY.
  • For Preauthorized Transfers not issued through Bill Pay: You must follow the procedures set forth in the Account Agreement. Dow Credit Union will charge you according to the fee schedule and terms of the stop-payment request for each stop-payment order you give.

You must provide Dow Credit Union a reasonable opportunity and information sufficient to identify the check or item, as determined by Dow Credit Union, to place the stop payment on the check or item. Dow Credit Union’s ability to stop payment under this paragraph will depend on whether the check or item has cleared.

If a check or item has been accepted for payment, but has not posted, Dow Credit Union cannot place the stop payment and the request is ineffective. Although Dow Credit Union makes every attempt to stop payment, neither Dow Credit Union nor any third-party service provider will have liability for failing to do so. You will be notified if this occurs.

X. Reorders

Prior to initiating any supply reorder, you should review your account profile and contact information to ensure shipping of supplies will be sent to your current address.

CHECK REORDERS: Online Banking can be used to reorder personal checks through Dow Credit Union’s vendor. You understand that you will be transferred to a third-party site. Any costs for the check order will automatically be deducted from your Primary Checking Account.

ATM and DEBIT CARD REISSUE: Online Banking can be used to request a reissue of an existing ATM or debit card. All applicable fees will be assessed upon order according to the Fee Schedule. Expect that most orders for card reissue will take 7-10 business days to arrive.

You do not need to request a reissue for cards that are expiring. New cards are automatically reissued during the month in which the old card expires. Expiring cards will be canceled upon whichever occurs first: the last day of the month of expiration or the new card is activated.

XI. Documents

You have the option of receiving electronic Periodic Statements, Notices, and Tax Statements through Online Banking. By selecting the box indicating electronic delivery in Documents, you give your consent to receive the type of disclosure selected in electronic form only. For example, if you select to receive Periodic Statements, Notices, and Tax Statements electronically, you will receive each of these types of disclosures in electronic format and will no longer receive selected types of documents in paper form. You may elect to receive only certain types of documents in electronic format by selecting the appropriate option. You will receive an email notifying you of the availability of Periodic Statements.

You understand that Dow Credit Union will discontinue mailing printed Periodic Statements, Notices, and Tax Statements to you if you select electronic receipt. Regardless of email notice of availability, all future Periodic Statements, Notices, and Tax Statements will be available and maintained in the “Documents” section of Online Banking for you to access, review, print, and copy/download for up to eighteen (18) months.

JOINT ACCOUNTS. Elections made for Electronic Document delivery using Online Banking will affect the delivery method for all Account Owners under the account number for which the Online Banking is enrolled in. If Dow Credit Union sends you an email notifying you of the availability of Periodic Statements, Notices, and/or Tax Statements, it will only be sent to the email address you have registered in the Online Banking system.

REVIEW. Your Periodic Statements, Notices and Tax Statements are dated, and you must promptly access and review your Periodic Statement, Notices, and Tax Statements within the applicable time period specified in this Agreement, law, or other written or electronic agreement between you and Dow Credit Union, whichever is applicable, for any error, unauthorized transaction, or other irregularity. Any applicable time periods will begin on the date of the Document regardless of when you receive/view/open the Periodic Statement, Notice and/or Tax Statement.

ADDITIONAL PAPER COPIES. You may request paper copies of any electronically received Periodic Statement, Notice, or Tax Statement by stopping in or contacting Dow Credit Union at 989.835.7794 or 800.835.7794. Additional fees may apply to receive paper copies.

XII. Alerts

Dow Credit Union’s Alerts allow you to receive notifications of certain transactions that occur on your Account(s) directly to your email, SMS text messaged to your mobile device, or Authenticated Device through Push Notification Alert. You choose when to be notified and what information you want in the alert (including Bill Pay e-Notifications).

By setting up Alerts, you hereby acknowledge and accept that Alerts may be sent to you without being encrypted and may include your name and information pertaining to your Account(s). You authorize Dow Credit Union to deliver information to the email address and/or mobile device number you provide to us, even though a person, not an owner, may access the message (such as someone who can open your emails or access your mobile device). You may elect to receive an Alert(s) through an email account that is accessed via a personal computer connection or by a text-enabled phone (email converted to text) or other mobile device. Dow Credit Union’s Alerts may be affected by the terms and conditions of your agreement(s) with your Carrier and/or Internet service provider. It is your responsibility to determine if your Carrier supports messaging and your access device is capable of receiving messages. You are responsible for any Carrier fees imposed due to your use of Alerts by your access device or Internet service provider.

If you have directed Dow Credit Union to communicate with you via mobile device, you consent to receiving Alerts on such mobile device and you acknowledge that you may incur and be responsible for a charge or charges from your Carrier for the communication of the alert. Note: All Access Devices with an active User Profile for the Account in which Alerts have been configured, will receive a Push Notification.

Further, you acknowledge and agree that your receipt of any Alerts may be delayed or prevented by factor(s) affecting your Carrier(s), email filters, device notification settings, and other factors outside Dow Credit Union’s control. You agree to not hold liable Dow Credit Union, its directors, officers, employees and agents for losses or damages, including attorneys’ fees, that may arise, directly or indirectly, in whole or in part, from:

  1. non-delivery, delayed delivery, or the misdirected delivery of Alerts;
  2. inaccurate or incomplete content in Alerts; or
  3. your reliance on or use of the information provided in an Alert for any purpose.

Dow Credit Union provides Alerts as a convenience to you for information purposes only. Alerts do not constitute a “bank record” for the Account to which it pertains. Dow Credit Union reserves the right to terminate Alerts at any time without prior notice to you. Dow Credit Union may add new Alerts from time to time or eliminate existing Alerts. If you have opted to receive an Alert that is to be eliminated, Dow Credit Union will notify you of the cancellation of an Alert or other discontinuance of service.

XIII. Messages

Sending a secure message through Messages (also known as Conversations) is a way to securely communicate with Dow Credit Union. Dow Credit Union makes every effort to timely respond to Account inquiries by the close of the next Business Day. However, if your matter needs immediate attention, is complicated or requires personal attention, do not use Messages; instead contact Dow Credit Union either by calling 989.835.7794 or 800.835.7794 or stopping in during normal business hours.

Dow Credit Union reserves the right to require alternative channels or communication methods to complete certain requests or transactions.

It is your responsibility to review Messages for any communication regarding your requests. Some requests require additional information before they can be completed. Do not assume your request was completed without review the request Conversation string in Messages.

XIV. Bill Pay

After enrolling in Online Banking, you will need to take additional steps to activate Bill Pay within Online Banking. In order to enroll Bill Pay, you must meet the credit union criteria for the service (over 18 years of age, open checking account, no restrictions prohibiting the service, and account type must be eligible, other restrictions may apply - see credit union for details).

PAYEE INFORMATION. Through Bill Pay, you can pay Payees from your Primary Checking Account. You are responsible for ensuring that you provide Dow Credit Union with correct Payee information. If payment is to be made to an individual Payee (e.g., John Smith or Jane Doe) of which you are not making payment pursuant to a billing arrangement, a check will be mailed, unless you select “add a person” and not “add a bill.” In this instance, an activation email will be sent to the individual Payee with a link that he or she must follow to input routing and account information into the secure Bill Pay system. In order to complete this process, he/she must input a keyword that you select and provide to them securely outside of the Bill Pay system. Payment will not be made until the individual Payee follows the instructions within that email.

SCHEDULING. The earliest possible payment date for each Payee will be provided in the Bill Pay system at the time you are scheduling a payment, and, therefore, you may not schedule a payment before that date. When making a Scheduled Payment, the Delivery by Date options available to you will typically be four or fewer Business Days from the date you are scheduling the payment. When scheduling payments, you must select a Delivery by Date that is no later than the Due Date, unless the Due Date falls on a non-Business Day. In this instance, you must schedule your payment before the actual Due Date.

You authorize Dow Credit Union to withdraw, debit, or charge the necessary funds from your designated Dow Credit Union Account on the date on which you schedule any payment to begin processing or submit a transfer request. You agree that you will instruct us to make a withdrawal only when a sufficient balance is or will be available in your Account(s) at the time of the withdrawal. It may be necessary that collected funds be in your Account no later than the Business Day before your Process Date and/or Delivery by Date due to the electronic processing of payments.

REMEDY. Due to circumstances beyond Dow Credit Union’s control, particularly postal delays and delays in handling payments by Payees or financial institutions, some standard Bill Pay transactions may take longer to be credited to your Account with certain Payees. There is no remedy provided by Dow Credit Union in these instances.

If you select “Rush” and pay any additional fees associated with “Rush” delivery, and a delay in processing caused by Dow Credit Union or its vendor results in a late fee, Dow Credit Union or its vendor will cover up to $50 of those fees. This guarantee does not cover losses which you cause, or payment processing delays which are not caused by Dow Credit Union or its vendor or are outside Dow Credit Union’s or its vendor’s control, such as your failure to schedule the Delivery by Date of your “Rush” payment sufficiently in advance of the Payee’s Due Date or subsequent posting of the payment is delayed by the Payee. You will need to document to Dow Credit Union or its vendor any late fees that you incur as a result of your “Rush” payment being delivered after the Delivery by Date.

You agree not to enter any agreements where one of the purposes is to generate late payment fees. The risk of incurring and the responsibility for paying any and all late charges or penalties shall be borne by you in the event you do not follow the procedures.

PAYMENT AUTHORIZATION. You authorize us to follow Transfer Instructions received from you through Bill Pay. In order to process payments more efficiently and effectively, Dow Credit Union may edit or alter payment data or data formats in accordance with Payee directives. When Dow Credit Union receives a Transfer Instruction, you authorize us to charge your Account and remit funds on your behalf so that the funds arrive on or close to the Delivery by Date that you designate. However, for gift checks, donations, and some “Rush” payments that are issued by check, your Account will not be debited on the Process Date. Rather, your Account will be debited on the date when the check is actually presented to Dow Credit Union for payment. You also authorize Dow Credit Union to credit your Account for payments returned to us by the United States Postal Service or a Payee, or payments remitted to you on behalf of another authorized user of Bill Pay.

PAYMENT METHODS. Dow Credit Union will choose the method by which payments are sent to Payees (i.e., electronically, by check, or otherwise).

PAYMENT CANCELLATION REQUESTS. You may cancel or edit any Scheduled Payment by following the directions contained within Bill Pay. There is no charge for canceling or editing a payment. However, once Dow Credit Union has begun processing a payment, Dow Credit Union may be unable to stop payment or edit the transaction. You can determine if a payment can be stopped through clicking the item in Bill Pay and following the instructions for stopping payment. For gift checks, donations, and some “Rush” payments which payment is made by check, in addition to the cancel or edit feature in Bill Pay, you may also request a stop payment in accordance with Section VII as if the gift check, donation or “Rush” payment was not made electronically.

RETURNED PAYMENTS. You understand, that Payees and/or the United States Postal Service may return payments to us for various reasons such as, but not limited to: 1) Payee’s forwarding address has expired; 2) Payee’s account number is not valid; 3) Payee is unable to locate account; 4) or Payee’s Account is paid in full. Dow Credit Union will use reasonable efforts to research and correct the returned payment and return it to your Payee, or void the payment and credit your Account. You may receive notification from us, but none is required.

TRANSFERS. Within Bill Pay you can make transfers to a checking or savings account in which you are an owner at another financial institution by entering the routing and account information of that account. You must be an owner of the account at the recipient financial institution to use this service within Bill Pay.

SECONDARY ACCOUNT HOLDER. Through Bill Pay, you can authorize a joint account holder to receive information about your Bill Pay account through Dow Credit Union’s Bill Pay vendor. By adding a joint account holder, you are authorizing the Bill Pay vendor to release information regarding transactions to the individual designated as a “Secondary Account Holder.”

PROHIBITED PAYMENTS. Dow Credit Union recommends that you do not make tax payments or court-ordered payments through Bill Pay. You may not use Bill Pay to make payments of less than $1.00 or over $25,000, those payable to Payees outside the United States or its territories or payments in connection with gambling debts.

DONATIONS. When charitable donations are made using Online Banking, Dow Credit Union makes no representations regarding the tax-deductibility of any donation. It is up to you to ensure the tax-exempt status of the organization to which you are making the donation. Be sure to consult your tax advisor to determine if your donation is tax-deductible.

XV. Electronic Bill (“eBill”) Delivery

If you subscribe to Bill Pay, you can arrange to receive certain bills electronically from Billers.

INFORMATION PROVIDED TO THE BILLER. Dow Credit Union will not update or change your personal information (e.g., your name, mail or email address, or phone number) with electronic Billers. You will need to contact Billers directly to update their records for you. Additionally, it is your responsibility to maintain all user IDs, passwords, and other authentication information for all electronic Biller websites. You agree that Dow Credit Union may provide Billers with your email address, mailing address, and other information specifically requested by the Biller to facilitate Bill Pay.

ACTIVATION. Upon activation of the eBill feature, Dow Credit Union may notify the Biller of your request to receive bills electronically. The presentment of your first eBill may vary from Biller to Biller and may take up to 60 days, depending on the billing cycle of each Biller. Whether you also receive a paper copy of your bills is at the sole discretion of the Biller. While your eBill feature is being activated, it is your responsibility to keep your accounts with Billers current. Each electronic Biller reserves the right to accept or deny your request to receive eBills.

AUTHORIZATION TO OBTAIN BILLING INFORMATION. By activating the eBill feature, you authorize Dow Credit Union to obtain billing information from Billers on your behalf. For some Billers, you will be asked to provide Dow Credit Union with the user name, password, and/or other authentication information for the Biller. You authorize Dow Credit Union to use that information to obtain your billing information.

NOTIFICATION. Dow Credit Union will use reasonable efforts to present your eBills to you promptly. You may elect to be notified via email or text message when a new eBill is received. The notice will be sent to the email address or mobile device number you designate within Online Banking. If you do not receive notification of a bill, it is your responsibility to periodically sign in to Dow Credit Union Bill Pay and check on the delivery of new eBills, regardless of whether Dow Credit Union notifies you of bills awaiting your review. Dow Credit Union shall not be responsible for your failure to receive an eBill if you have provided the wrong email address or you have not updated your contact information in Online Banking. The time for notification may vary from Biller to Biller. You are responsible for ensuring timely payment of all bills whether or not you receive notice from Dow Credit Union.

CANCELLATION OF EBILL NOTIFICATION. Electronic Billers reserve the right to cancel the presentment of bills provided electronically at any time. You also may cancel eBill presentment at any time. The time frame for cancellation of your eBill presentment may vary from Biller to Biller. It may take up to 60 days, depending on the billing cycle of each Biller. Although Dow Credit Union may notify your electronic Biller(s) regarding the change in status of your account with Biller, it is your sole responsibility to make arrangements for an alternative form of bill delivery. Neither Dow Credit Union nor Dow Credit Union’s service providers shall be responsible for presenting any eBills that are already in process at the time of cancellation.

NON-DELIVERY OF EBILL(S). You are solely responsible for contacting Billers directly if you do not receive their bills electronically. You agree to hold Dow Credit Union harmless if a Biller fails to deliver your bills electronically. You are responsible for ensuring timely payment of all bills. Copies of previously delivered bills must be requested from the Biller directly.

ACCURACY AND DISPUTE OF EBILLS. Dow Credit Union is not responsible for the completeness or accuracy of your eBill(s). Any discrepancies or disputes regarding the accuracy of your eBill must be addressed with the Biller directly. This Agreement does not alter your liability for obligations between you and your Billers.

XVI. Deposit Check

Deposit Check allows you to deposit checks to your Accounts using compatible and supported devices. Deposit Check requires additional enrollment (subject to Dow Credit Union approval) after you enroll in Online Banking. You must designate a specific Dow Credit Union savings or checking Account as the account to be used for the purposes of settling the financial transaction requested in connection with a Deposit Check transaction. Dow Credit Union shall provide you with details of the specific transactions, reported similarly as other transactions may be done, that were a result of access to Deposit Check (e.g. Periodic Statements, acknowledgment, etc.).

YOUR RESPONSIBILITY FOR CHECK NEGOTIATION. - CHECKS DEPOSITED IN YOUR ACCOUNT. When you deposit a check, you assume the liability for that transaction, including the total amount of the check and any fees associated with a returned check. Do not rely on money from a check unless you know and trust the person you’re dealing with. To help you identify bad checks, the Credit Union may use any manual or commercially available method to inspect checks for indicators of fraud, alteration, forgery, or counterfeited elements. There is no warranty as to the efficacy of the inspection or obligation for the credit union to inspect all checks. The Credit Union reserves the right to refuse a check or to place an exception hold on a check when there is reasonable suspicion of uncollectability. When the funds originating from a check deposit are made available in your account, the Credit Union may say the check has “cleared,” but this does not absolve you of liability should the Credit Union receive a notice of non-payment from the paying bank. Fraudulent checks can take days, weeks, or even years to be discovered. If the check is determined to be unpayable for any reason, and you withdrew or otherwise used the available funds, you are solely responsible for reimbursing Dow Credit Union for any loss. To collect against any loss due to a dishonored check, the Credit Union may collect on any funds held on deposit for any of the account owners at Dow Credit Union or the Credit Union may use any available legal recourse.

BUSINESS DAY. For the Deposit Check service, a Business Day is Monday through Friday, except the days when Federal Reserve Banks Financial Services holidays are observed. The cutoff time for Deposit Check deposits is 11:50PM ET. Funds deposited after the cutoff will be considered deposited on the next Business Day.

FUNDS AVAILABILITY.

Up to the first $300 of aggregated items deposited in a day through Deposit Check will be available immediately. The remainder of the funds will be available at 7PM ET on the 3rd business day after the date of deposit. While your funds may have a hold on them, your funds will stay in the deposit account you have designated in the Deposit Check transaction and may not be moved around within the account or be applied to loans until the hold period expires. Even though your funds are on hold, your deposits will earn interest/dividends beginning the Day of Deposit.

Deposit Day----Available @7pm ET*
Monday--- the following THURSDAY
Tuesday--- the following FRIDAY
Wednesday--- the following MONDAY
Thursday--- the following TUESDAY
Friday--- the following WEDNESDAY
Saturday--- the following THURSDAY
Sunday--- the following THURSDAY

*Deposits made on a federal holiday will have their Deposit Day considered as the next Business Day. For example a Deposit Check received on Monday, Memorial Day, will be considered deposited on the Tuesday after Memorial Day and any deposited funds greater than $300 will become available on the following Friday.

You agree that the scanning and transmitting of checks does not constitute receipt by Dow Credit Union. Acknowledgment of receipt or delivery does not constitute an acknowledgment by Dow Credit Union that the transmission of a check or items does not contain errors or that funds will be available.

EXCEPTION HOLDS. Longer Delays May Apply. Funds from Deposit Check transactions made to your account may be delayed for a duration at the Credit Union's discretion, if:

• We believe a deposited check will not be paid.

• You redeposit a check that has been returned unpaid.

• You have overdrawn your account repeatedly in the last 6 months.

• There is a credit union emergency, such as failure of computer or communications equipment.

DEPOSIT ACCEPTANCE. You agree that Dow Credit Union may at any time, in its sole discretion, refuse to accept deposits of checks from you by Deposit Check. Proper endorsement for Deposit Check includes: 1) your signature and 2) write "For mobile deposit only at Dow Credit Union" below your signature. Improperly endorsed checks may be rejected for deposit. In the event that Deposit Check is interrupted or is otherwise unavailable, you may deposit checks via ATM, in person or at Dow Credit Union via night drop, U.S. mail, or other contractually acceptable method.

RESPONSIBILITY FOR IMAGING AND EXPENSES. You are solely responsible for imaging deposit items, accessing Online Banking and for maintaining your access device. You are responsible for the payment of all telecommunications expenses associated with using Deposit Check. Dow Credit Union shall not be responsible for providing or servicing any access device.

DEPOSIT REQUIREMENTS. You agree that you will only use Deposit Check to deposit checks drawn on financial institutions within the United States in US dollars. You must deposit all other checks not meeting this description in person or at Dow Credit Union via night drop, US Mail, or other contractually acceptable method. Checks deposited must be payable directly to an owner of the account. Third party checks will not be accepted. You agree that each check you submit for deposit through Deposit Check will meet the image quality standards established in American National Standards Institute’s standard X9.37.

CHECK RETENTION & DESTRUCTION. You understand and agree that all deposit items belong to you and not to Dow Credit Union and that those items shall be handled in accordance with this Agreement. After receipt by Dow Credit Union of any transmission by you of imaged items for deposit to your account, Dow Credit Union will acknowledge by electronic means its receipt of such electronic transmission. Your electronic transmission is subject to proof and verification. You shall retain the original of all imaged items that have been deposited via Deposit Check for a reasonable period of time in order to verify settlement and credit or to balance Periodic Statements, but in no case beyond ninety (90) days from the date processed, and shall properly destroy and dispose of such original checks after such time. During the period that you maintain the original checks, you understand and agree that you must use a high degree of care to protect these original checks against security risks. These risks include, without limitation, (i) theft or reproduction of the original checks for purposes of presentment for deposit of these original checks (i.e. after the original checks have already been presented for deposit via Deposit Check) and (ii) unauthorized use of information derived from the original checks. When you destroy and dispose of the original checks pursuant to the requirements of this Agreement, you understand and agree that you must use a high degree of care when selecting and implementing destruction and disposal procedures. Among other things, these procedures must be designed to ensure that the original checks are not accessed by unauthorized persons during the 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).

FINANCIAL RESPONSIBILITY. You are solely and exclusively responsible for any and all financial risks, including, without limitation, insufficient funds, associated with accessing Deposit Check. Dow Credit Union shall not be liable in any manner for such risk unless Dow Credit Union fails to follow the procedures described in this Agreement and in other materials provided to you regarding the use of Deposit Check. You assume exclusive responsibility for the consequences of any instructions you may give to Dow Credit Union, for your failure to access Deposit Check properly and in a manner prescribed by Dow Credit Union, or for your failure to supply accurate input information.

PRESENTMENT PROHIBITIONS. You shall not present, or attempt to present, or allow others, either directly or indirectly, to present, or attempt to present, for deposit by any means (i) any Substitute Check (as that term is defined in Federal Reserve Regulation CC, 12 C.F.R. Part 229) that has already been presented for deposit via any deposit service or (ii) any original check, the Substitute Check of which has already been presented for deposit via any deposit service. In the event that you, or any third party, presents, or attempts to present, a deposit in violation of this subsection you agree to defend, indemnify, and hold Dow Credit Union and its agents harmless from and against all liability, damage and loss arising out of any claims, suits, or demands brought by third parties with respect to any such Substitute Check or original check. You agree that the aggregate amount of any items which are deposited more than once will be debited from your account, and to the extent funds in your account are insufficient to cover such amount, any balance shall be debited by Dow Credit Union from any other Dow Credit Union account (in which you have an ownership interest, regardless of the source, unless prohibited by law) in its sole discretion. You further acknowledge that you, and not Dow Credit Union, are responsible for the processing and handling of any original items which are imaged and deposited utilizing Online Banking and you assume all liability to the drawer of any item imaged using Deposit Check or liability arising from Dow Credit Union’s printing of any Substitute Check from those images.

YOUR REPRESENTATIONS AND WARRANTIES. You represent and warrant: (i) that you will comply with all federal and state laws, and rules and regulations applicable to Deposit Check transactions, including those of the National Automated Clearing House for ACH transactions; (ii) that all Checks imaged through Deposit Check are made payable to you; (iii) that all signatures on each check are authentic and authorized; and (iv) that each check has not been altered. In the event you breach any of these representations or warranties, you agree to defend, indemnify and hold Dow Credit Union and its agents harmless from and against all liability, damages and loss arising out of any claims, suits or demands brought by third parties with respect to any such breach. You further authorize Dow Credit Union to charge your account (or any account in which you have an ownership interest, regardless of the source, unless prohibited by law) for the amount of any such demand, claim or suit that constitutes a breach of warranty claim under the provisions of the Uniform Commercial Code.

ADDITIONAL LIMITATIONS ON USE. The maximum aggregate deposit amount shall not exceed $15,000 in any one (1) calendar day and $50,000 in any one (1) calendar month.

Trust Accounts and P&I Shares are not eligible to be enrolled in Deposit Check services.

EXCEPTION ITEMS. When Dow Credit Union reviews and processes your electronic file, Dow Credit Union may reject any electronic image that it determines to be ineligible for Deposit Check (“Exception Item”) including, without limitation, electronic images of items drawn on banks located outside the United States, items drawn on U.S. Banks in foreign currency, electronic images that are illegible (due to poor image quality or otherwise), electronic images of items previously processed, electronic images previously converted to Substitute Checks, and electronic images with unreadable MICR information. Dow Credit Union will notify you of any Exception Items via email. You agree that if you wish to attempt to deposit any Exception Item to any account with Dow Credit Union, you shall only do so by depositing the original item on which the Exception Item is based. You acknowledge and agree that even if Dow Credit Union does not initially identify an electronic image as an Exception Item, the Substitute Check created by us may nevertheless be returned to us because the electronic image is deemed illegible by a paying bank.

XVII. Mortgage Center

Mortgage Center is a resource for up-to-date information about your Dow Credit Union mortgage.

MORTGAGE LOAN INFORMATION. You can find Loan Details about your mortgage loan, including:

  • Current Interest Rate
  • Payment Amount
  • Next Payment Due Date
  • Payment History
  • Balances

PAYOFF REQUESTS and MORTGAGE QUESTIONS. To request a Mortgage Payoff or ask a question about your mortgage, please send us a message in Online Banking or the Mobile app, or one of our other contact methods. See section XI. Documents for accessing electronic statements and other electronic notices pertaining to your mortgage loan.

MORTGAGE LOAN PAYMENTS. To make a payment to your mortgage loan using Online Banking or the Mobile App, select the mortgage you want to pay, from the menu select "Transfer", enter your payment amount and "Submit". Although payments are accepted anytime, the payments are reflected in the Mortgage Center Payment History within 12-24 hours. Payments can be viewed in the Mortgage Center Payment History once they are posted. The “Cutoff Time” for payments made to your mortgage through online banking is 11:50pm Eastern Time Zone. Payment made up to 11:50pm Eastern Time will be effectively posted for same day, payment made after 12am Eastern Time will be posted for next day.

PARTIAL PAYMENTS. Depending on the terms of your mortgage and note, "Partial Payments" will be accounted as follows:

  1. Most Mortgage loans, except for loans showing as Rebateable First Mortgage or Single-Advance Home Equity Loan:
    • Unapplied Funds:
      • Any payment not sufficient to satisfy the payment due will be held in a suspense account as "Unapplied Funds" until funds are received to cover the full periodic payment "Amount Due".  After sufficient funds are received, all funds held will be applied to the periodic payment "Amount Due"
      • Funds held in "Unapplied Funds" will be reported in "Mortgage Center" in "Online Banking"
      • "Late Charges" if applicable, are assessed after the grace period is up and a full payment has not been made. Late charges are assessed of the entire full periodic payment "Amount Due" regardless of any funds held as "Unapplied Funds" 
    • Additional Payments
      • Once the "Payment Due" amount has been paid, any additional money received before the "Due Date" will be applied as an extra principal payment
      • Once the cycle passes the "Due Date", payments not great enough to make a full periodic payment "Amount Due" will once again be held in "Unapplied Funds"
  2. For Rebateable First Mortgage or a Single-Advance Home Equity Loan:
    • Payments Applied Directly:
      • When a partial payment is made to these mortgage types, the payment funds are credited first toward any accrued and outstanding interest
      • If there are enough funds to satisfy the outstanding accrued interest, the remainder of the funds will be used to pay down the principal

For clarification on the terms of how your mortgage handles partial payments, please contact the credit union.

XVIII. Visa Credit Card Manage Cards

MANAGE CARDS INFORMATION. Manage Cards is a resource for up-to-date information about your Dow Credit Union Visa Credit Card(s). You can use Manage Cards to monitor and control functions of your Visa Credit Card, including:

  • View Transactions
  • Dispute Transactions
  • Add / Delete Cards to Manage Cards
  • Report Lost/Stolen
  • Request Replacement Cards
  • Request PIN Mailer
  • Make Payments
  • Enroll / Unenroll in eStatements
  • View eStatements
  • Manage Alerts & Controls
  • Set Travel Notifications
  • Request Balance Transfers

VISA CREDIT CARD PAYMENTS:

Using Online Banking - Transfer: To make a payment to your Visa Credit Card using Online Banking or the Mobile App, select the “Transfer” on the Dashboard. Select the Share Account you want to transfer the funds from and the Visa Credit Card you want to transfer funds to. Enter your payment amount and "Submit". Although payments are accepted anytime, the payments are reflected in the Manage Cards Payment History by the end of the next business day. Payments can be viewed in the Manage Card Payment History once they are posted.

Using Manage Cards - Make Payment: Manage Cards - Make Payment may use any checking account that is eligible for transactions using the Automated Clearing House (ACH) services. You must enter your payment account details including the associated routing and account numbers. You may not make payments from accounts which you are not authorized to transact from.

To make a payment to your Visa Credit Card using Manage Cards - Make Payment, access the Manage Cards resource and select Make Payment from the menu. You must accept the Terms & Conditions of the Make Payment screen.

Payments made using Manage Cards – Make Payment before 6 pm ET will be credited to the balance on the card by the end of the day. Payments made after 6 pm ET will be credited to the balance on the card by the next business day but will be effective dated to the date that the payment was actually made. Withdrawal from your account with the source funds may take up to three (3) *Business Days for the payment to be debited. If funds in the source account are unavailable when the settlement is attempted, the amount of the payment to your Dow Credit Union Visa credit card that was previously credited will be reversed and a Returned Payment Charge may be assessed up to $25.00.

*For purposes of this paragraph, the term “Business Day” means any day other than any Saturday, Sunday, or any day on which the Federal Reserve is closed.

-Revised 08/01/2024