1. DEFINITIONS
1.1 INTERPRETATION – Any defined term used in this agreement, defined in the singular, is deemed to include the plural and vice versa.
"Access Terminal" means any device used to access any of the Member’s Accounts, including without limitation an ATM, a computer, a portable hand-held device, or a telephone including any form of mobile telephone.
"Account" means any of the Member’s accounts or subaccounts (if applicable) that the Member may have now or in the future, at FirstOntario Credit Union.
“Account Agreement” means the agreements for the operation of the Account. "ATM" means an Automated Teller Machine.
"Biller"means a person who uses the EDP Services to deliver bills and invoices to their customers electronically.
"Contaminant" means a computer virus, worm, lock, mole, time bomb, or any other code or instruction which may modify, delete, damage, disable, or disrupt the operation of any computer software or hardware.
"Debit Card" means a card issued by FirstOntario Credit Union that allows the holder of the card to deposit cash and/or Instruments or withdraw cash from the Account through an ATM, authorize Transactions on the Account through an ATM, and that operates like an Instrument to purchase goods and services from merchants. "Debit Card Transaction" means any Transaction processed to the Account by or through the use of a Debit Card.
"Debit Card Services" means the services offered by FirstOntario Credit Union from time to time allowing the Member with a Debit Card and a PIN to access the Account by electronic means.
"Direct Services" means the services offered by FirstOntario Credit Union from time to time that let the Member access the Account using an Access Terminal. However, Direct Services do not include card services such as Debit Cards or Smart Cards provided by a Third Party.
"EDP Services" means an electronic mail service provided by EPO Inc. (doing business as epost™) that facilitates the delivery of bills and invoices from Billers to their customers using Direct Services.
"Email Money Transfer Answer" means the word or phrase created by the sender of an email money transfer and used by the recipient to claim or decline the money transfer using EMT Services.
"EMT Services" means the money transfer service provided by Acxsys Corporation (doing business as CertaPay) that facilitates the sending and receiving of money transfers using email through Direct Services to and from Participating Financial Institutions, and/or CertaPay payment service.
"External Account" means an account held at another Canadian financial institution in the Member’s name or on which the Member has the authority to independently authorize Transactions.
"Facsimile Signature" means a signature engraved, lithographed, printed, stamped, or otherwise mechanically reproduced or computer generated on an Instrument.
"Instrument" means a cheque, promissory note, bill of exchange, order for payment, securities, cash, coupon, note, clearing item, credit card slip for processing, other negotiable instrument, or item of deposit or withdrawal of a similar nature and its electronic equivalent, including electronic debit instructions.
"Member" means the customer of FirstOntario Credit Union who holds the Account with FirstOntario Credit Union.
"Night Deposit Service" means the service that allows the Member to make deposits or to leave items for safekeeping after regular business hours.
"Overdraft Rate" means the per annum rate of interest, regardless of compounding frequency, designated by FirstOntario Credit Union as its "Overdraft Rate" from time to time.
"PAC" means the personal access code or word used with Direct Services to access an Account.
"PAD" means a Preauthorized Debit.
“Participating Financial Institution” means a financial institution participating in EMT Services.
"PIN" means the personal identification number selected by the Member permitting access to the Account with the Debit Card.
"PIW"means the personal identification word selected by the Member used in connection with Remote Instructions.
"Point-of-Sale Transaction" means the use of the Debit Card and the PIN as may be permitted from time to time by FirstOntario Credit Union for:
a) the transfer of funds from the Account to purchase or lease goods or services from a merchant (the "Merchant"),
b) the transfer of funds from the Account to obtain a voucher, chit, scrip, token, or other thing that may be exchanged for goods, services, or money, or
c) the transfer of funds into the Account from an account of a Merchant (e.g. a refund).
"Preauthorized Debit" means a Transaction debiting the Account that is processed electronically by a financial institution in accordance with the Member’s request.
"Remote Instructions" means instructions given to FirstOntario Credit Union with respect to the operation of the Account from a remote location using a telephone, mobile telephone, fax, via FirstOntario Credit Union’s online banking system, email, text message transmission, or other remote communication acceptable to FirstOntario Credit Union in order to operate the Account or authorize Transactions and make arrangements with FirstOntario Credit Union.
"Rules" means the published rules and standards of the Canadian Payments Association as amended from time to time.
"Smart Card" means a Debit Card that has an embedded integrated circuit that can process data and protect the cardholder from fraudulent use.
"Third Party" means any person, firm, corporation, association, organization, or entity other than FirstOntario Credit Union or Central 1 Credit Union (“Central 1”).
"Transaction" means any transaction processed to or from the Account.
2. MEMBERSHIP INFORMATION
2.1 GENERAL – FirstOntario Credit Union is a financial co-operative. This means that each Member must hold shares in FirstOntario Credit Union. As a Member, you are a part owner of FirstOntario Credit Union, with voting privileges (except for Members who are natural persons under the age of 14 years) and the right to participate through the Board of Directors in how FirstOntario Credit Union operates. Credit Union "Membership Shares” also referred to as equity, represent your investment (or Membership capital) in FirstOntario Credit Union. In the case of joint accounts, both parties must each hold the required Membership shares.
2.2 SHARES HELD – Each Member must hold 30 shares in FirstOntario Credit Union. Currently, each share has a $5.00 value. Shares are purchased as follows:
For Members joining who are 21 years of age or older, 5 shares must be purchased at the point of joining FirstOntario Credit Union. (5 x $5 = $25.00). The remaining 25 additional shares must be purchased over the next 25 year period (i.e. 1 share per year).
For Members under the age of 21 years of age 1 share must be purchased when joining FirstOntario Credit Union. (1 x $5 = $5.00). 4 additional shares must be purchased within one month of turning 21 years of age. Following a Member's 21st birthday, 25 additional shares must be purchased over a 25 year period (i.e. 1 share per year).
This is an obligation that each Member, including you, must fulfill in order to maintain Membership.
2.3 DIVIDENDS – On an annual basis, the Board of Directors may, in its absolute discretion, declare and pay a dividend on Membership shares. Dividends are paid into the chequing or savings account of each Member. If you have not obtained the required 30 shares, your signature on the Membership Application shall be deemed to be an irrevocable direction to us to use the dividend to purchase the additional required shares. The funds will automatically be deducted on the same day as the cash dividend is paid to your chequing or savings account.
2.4 WITHDRAWAL OF SHARES– Membership Shares may be withdrawn in full, inclusive of dividends, upon closing the Membership, as long as FirstOntario Credit Union is legally permitted to allow such withdrawals.
2.5 CENTRAL 1 DUES– A Member of this Credit Union pays these annual dues, a portion of which is paid to Central 1, of which FirstOntario Credit Union is a Member. These dues cover ongoing costs associated with services Central 1 provides you through FirstOntario Credit Union. On becoming a Member, you authorize FirstOntario Credit Union to pay annual dues on your behalf and to withdraw annual dues from your Account annually.
3. GENERAL
3.1 JOINT PROPERTY – If this is a joint account, each joint account holder acknowledges that all monies which now or at any time thereafter stand to the credit of the holders in the Account are the joint property of the joint account holders, with right of survivorship. In addition, each joint account holder acknowledges that FirstOntario Credit Union has a lien on his or her Membership shares and any positive balance in this Account for any liability of the holder to the Credit Union, and may set off any part of such positive balance towards the payment of the liability.
3.2 JOINT AND SEVERAL LIABILITY – If this is a joint account, all references to Member in this agreement shall be deemed to mean each and every joint account holder and all of them, collectively. For greater certainty, the joint account holders agree that they are jointly and severally liable to FirstOntario Credit Union for all debts and liabilities, and the due performance of all obligations, imposed on them by this agreement.
3.3 FORMS – The Member will use only such forms and Instruments as may be authorized by FirstOntario Credit Union from time to time.
SERVICE CHARGES AND FEES – The Member will pay the service charges that FirstOntario Credit Union establishes from time to time for the Account and fees incurred, including, without limitation, service charges for providing records regarding the Member that FirstOntario Credit Union is legally required to provide or fees imposed by a Third Party. The Member acknowledges receipt of a schedule of FirstOntario Credit Union’s charges for the Account in effect at the time of acceptance of this agreement. FirstOntario Credit Union may from time to time increase or decrease the service charges for the Account and provide notice of such changes by mailing or emailing notice to the Member’s last known address or email address, by posting notice at FirstOntario Credit Union’s premises or on FirstOntario Credit Union’s website, by personal delivery, or by any other means FirstOntario Credit Union, acting reasonably, considers appropriate to bring the change to the attention of the Member. Current service charges for the Account may be obtained by contacting FirstOntario Credit Union or through FirstOntario Credit Union’s website. The Member is responsible for determining the then current service charges for the Account they request in advance of requesting those services. By requesting the Account the Member acknowledges their agreement to pay service charges for the Account requested by them then in effect. FirstOntario Credit Union can deduct service charges from the Account (or other accounts of the Member with FirstOntario Credit Union) when the service is requested or performed. New or amended service charges and fees will become effective following publication, when the service is requested or performed, or when incurred, and in any event, no later than 30 days after publication by FirstOntario Credit Union.
VERIFICATION AND ACCEPTANCE OF TRANSACTIONS BY FIRSTONTARIO
CREDIT UNION – All Transactions are subject to verification and acceptance by FirstOntario Credit Union and, if not accepted, or if accepted but subsequently determined to be in error or otherwise improper or unauthorized, FirstOntario Credit Union may, but is not obliged to, reverse them from the Account. Verification may take place at a date later than the date the Member authorized the Transaction, which may affect the Transaction date. Notwithstanding any other provision herein, if at any time FirstOntario Credit Union, acting reasonably, determines that a credit to or traced to the Account was made in error or based upon a mistake of fact, or induced through or tainted by fraud or unlawful conduct, FirstOntario Credit Union may place a hold on the credit and/or reverse the credit and any applicable interest.
NOTING OR PROTESTING - The Member:
a) will be liable, without presentation, protest, or notice of dishonour to any parties, for the non-acceptance or nonpayment of any bills, notes, cheques, or other Instruments the Member delivered to FirstOntario Credit Union for deposit, discount, collection, or otherwise, and
b) will be liable to FirstOntario Credit Union as if proper notice of dishonour, protest, and presentment had been made or given, and FirstOntario Credit Union may:
1) charge such items, when dishonoured, to the Account in accordance with article 6.3, Returned Items, and
2) note or protest any item should FirstOntario Credit Union consider it advisable to do so, but FirstOntario Credit Union will not be liable for failure to note or protest any such item.
USE OF SERVICES
DIRECT SERVICES AND DEBIT CARD SERVICES – FirstOntario Credit Union will issue a Debit Card to the Member and will permit the Member to select a PIN. The Member may use Direct Services and/or Debit Card Services to access the Account and to authorize such Transactions as may be permitted by FirstOntario Credit Union from time to time commencing upon the day these terms and conditions are accepted by the Member and the Member’s request for Direct Services and/or Debit Card Services is approved by FirstOntario Credit Union.
The Member cannot use Direct Services or Debit Card Services to authorize Transactions on an Account that requires more than 1 authorization (i.e. with multiple signature requirements) unless prior authorization is received in writing and with FirstOntario Credit Union’s approval. FirstOntario Credit Union may from time to time add to or delete from the types of use permitted and Direct Services and/or Debit Card Services offered.
The Member will not deposit any coins, non-negotiable items, or anything not acceptable for deposit to the Account, into any ATM. The Member will pay to FirstOntario Credit Union any damages, costs, or losses suffered by FirstOntario Credit Union as a result of any such deposit.
A Debit Card's issue does not amount to a representation or a warranty that any particular type of service is available or will be available at any time in the future.
4.2 DIRECT SERVICES AND DEBIT CARD SERVICES ACKNOWLEDGMENT – The Member acknowledges and agrees that:
a) when transfers and bill payments are authorized through Direct Services, funds are deemed irrevocably transferred out of the Account and the Transaction cannot be revoked or countermanded by the Member;
b) anyone with access to the PAC, PIN, and/or PIW may be able to access Direct Services and/or Debit Card Services and may use the PAC, PIN, and/or PIW to transfer money out of an Account, set up bill payment arrangements, make bill payments, and authorize any other Transaction;
c) FirstOntario Credit Union will not be liable in any way to the Member or any other person for processing or accepting on the Account any Transaction resulting in the transfer of money out of the Account or in the payment of bills, even if the money is used for the benefit of a person other than the Member, or if bills owed by a person other than the Member are paid;
d) the Member will be liable for all Transactions using Direct Services and/or Debit Card Services, including Transactions that benefit a person other than the Member or that result in the payment of bills owed by a person other than the Member; and
e) a copy of an electronic communication is admissible in legal proceedings and constitutes the same authority as would an original document in writing.
4.3 BILL PAYMENTS THROUGH AN ACCESS TERMINAL – The Member acknowledges and agrees that:
a) bill payments made through Direct Services are not processed immediately and that the time period for processing depends upon a number of factors including, without limitation, the time when the bill payment is initiated and the internal accounting processes of the bill payment recipient;
b) it is the responsibility of the Member to ensure that bill payments are authorized in sufficient time for the payment to be received by the bill payment recipient before its due date; and
c) FirstOntario Credit Union and Central 1 will not be liable for any cost, expense, loss, damage, or inconvenience of any nature or kind whatsoever arising as a result of non - payment or a delay in the processing of bill payments.
4.4 AVAILABILITY OF DIRECT SERVICES AND DEBIT CARD SERVICES – The Member acknowledges that the availability of Direct Services and/or Debit Card Services depends on telecommunications systems, computer hardware and software, and other equipment, including equipment belonging to FirstOntario Credit Union, Central 1, and Third Parties, and that there is no guarantee or obligation to provide continuous or uninterrupted service. FirstOntario Credit Union and Central 1 are not liable for any cost, loss, damage, injury, inconvenience, or delay of any nature or kind whatsoever, whether direct, indirect, special, or consequential, that the Member may suffer in any way arising from non
- continuous or interrupted service or FirstOntario Credit Union or Central 1 providing or failing to provide Direct Services and/or Debit Card Services, or from the malfunction or failure of telecommunication systems, computer hardware or software, or other equipment, or other technical malfunctions or disturbances for any reason whatsoever, nor are FirstOntario Credit Union or Central 1 liable for any lost, incomplete, illegible, misdirected, intercepted, or stolen messages, or failed, incomplete, garbled, or delayed transmissions, or online failures (collectively, “Interruption Claims”), even if the Member has advised FirstOntario Credit Union of such consequences. The Member releases and agrees to hold harmless FirstOntario Credit Union and Central 1 from any and all Interruption Claims.
4.5 EDP SERVICES – If FirstOntario Credit Union through Direct Services makes EDP Services available and the Member uses the EDP Services:
a) the Member consents to epost™ preparing, using, and disclosing reports relative to the performance and/or operation of the EDP Services, including statistical or performance reports and other analysis, compilation, and information about the EDP Services or the Member, and reports that pertain to the Member’s involvement in and use of the EDP Services. The Member further consents to epost™ disclosing to Central 1 Member-specific data that consists of the total number of Billers for which the Member has registered, without identifying those Billers apart from FirstOntario Credit Union and its affiliates, and without identifying detailed data of the Member’s viewing activities;
b) the Member acknowledges that epost™ will not respond directly to the Member with respect to any inquiries, requests, questions, complaints, or other issues relating to the EDP Services in any way, other than to direct the Member to FirstOntario Credit Union or the Biller; and
c) the Member acknowledges that the consents contained in a) above are requirements of the EDP Services and that if such consents are withdrawn, the Member’s participation in the EDP Services may be suspended or terminated and any or all documents may not be presented via the EDP Services.
4.6 TRANSFERS WITH EXTERNAL ACCOUNTS – If FirstOntario Credit Union through Direct Services enables the Member to transfer funds between the Account and an External Account, then:
a) the Member agrees to inform FirstOntario Credit Union in writing of the External Account they wish to link to the Account in a form acceptable to FirstOntario Credit Union;
b) FirstOntario Credit Union reserves the right to refuse to accept the External Account;
c) the Member agrees to provide FirstOntario Credit Union with FirstOntario Credit Union number, branch address or number, and the account number of the External Account the Member wishes to link to the Account. FirstOntario Credit Union reserves the right to verify the External Account;
d) the Member and the External Account holder must provide authorization to establish the link between the Account and the External Account;
e) the Member agrees to not link the Account to an account that is not owned by the Member;
f) the Member acknowledges and agrees that FirstOntario Credit Union, at its discretion, may limit the type of Transactions that can be authorized between the Account and the External Account; specifically whether Transactions will be in the form of credits to the External Account, debits from the External Account, or both credits to and debits from the External Account;
g) the Member may only link an Account denominated in US dollars to an External Account denominated in US dollars and if the External Account is with a financial institution domiciled in Canada;
h) FirstOntario Credit Union reserves the right to limit the number of External Accounts that can be linked to the Account;
i) FirstOntario Credit Union reserves the right to limit the dollar amount of Transactions to or from the External Account;
j) FirstOntario Credit Union reserves the right to limit the number of Transactions to or from the External Account;
k) FirstOntario Credit Union reserves the right to hold funds on the Transaction amount credited to the Account;
l) the Member consents to the disclosure to FirstOntario Credit Union that holds the External Account of any personal information provided to FirstOntario Credit Union with respect to Transactions to or from the External Account;
m) funds usually arrive in the Member’s External Account or Account within 3 to 5 business days from the day the Transaction is authorized. FirstOntario Credit Union cannot guarantee the date of deposit to the Account or External Account. FirstOntario Credit Union and Central 1 will not be liable for any cost, expense, loss, damage, or inconvenience of any nature or kind whatsoever arising as a result of a delay in the processing of Transactions;
n) all deposits or withdrawals will be reversed if the Transaction cannot be delivered or if it is returned for any reason; and
o) the Member agrees that for security purposes and at FirstOntario Credit Union’s discretion, 1 cent may be credited to the External Account once per year.
4.7 TRANSFERS WITH LINKED ACCOUNTS – If FirstOntario Credit Union through Direct Services enables the Member to link multiple Accounts to a single user name to allow the Member to access the Accounts from a single user name, it will not constitute merging the Accounts. If the Accounts are linked through Direct Services, then:
a) FirstOntario Credit Union reserves the right to refuse to accept any Account;
b) the Member agrees that FirstOntario Credit Union, at its discretion, may limit the type of Transactions that can be authorized between the Accounts, specifically whether Transactions will be in the form of credits to an Account, debits from an Account, or both credits to and debits from an Account;
c) FirstOntario Credit Union reserves the right to limit the number of Accounts that can be linked;
d) FirstOntario Credit Union reserves the right to limit the dollar amount of Transactions made to or from a linked Account;
e) FirstOntario Credit Union reserves the right to limit the number of Transactions made to and from a linked Account;
f) FirstOntario Credit Union reserves the right to apply a hold on the Transaction amount to a linked Account for a period of time to be determined by FirstOntario Credit Union during which time the Transaction or portion thereof will not be accessible to the Member;
g) the Member agrees that FirstOntario Credit Union cannot guarantee the date of deposit to a linked Account. FirstOntario Credit Union and Central 1 will not be held liable for any cost, expense, loss, damage, or inconvenience of any nature arising as a result of a delay in the processing of Transactions; and
h) all Transactions will be reversed if the Transaction cannot be delivered or if it is returned for any reason.
4.8 EMT SERVICES – If FirstOntario Credit Union through Direct Services makes EMT Services available and the Member uses the EMT Services, the Member acknowledges and agrees that:
a) EMT Services are only available in Canadian dollars;
b) the Account will be debited as soon as the Member initiates a Transaction and FirstOntario Credit Union may hold the Transaction amount until the recipient successfully claims the amount or the Transaction is cancelled. FirstOntario Credit Union has no obligation to and will not pay interest on the Transaction amount. To the extent permitted at law, FirstOntario Credit Union is deemed to have a security interest in the Transaction amount from the time the Account is debited until the recipient successfully claims the amount or the Transaction is cancelled;
c) Transactions sent and received through the EMT Service are subject to number and dollar limits that may change from time to time without prior notice to the Member;
d) FirstOntario Credit Union will not be responsible or liable for any losses or damages incurred as a result of funds held and/or limits set by FirstOntario Credit Union, CertaPay, or a Participating Financial Institution;
e) an email notice advising the recipient of the Transaction amount will be generated approximately 30 minutes after the Member originates the Transaction;
f) as the sender, the Member will keep the Email Money Transfer Answer confidential and will not disclose it or share it with anyone but the intended recipient;
g) the recipient must correctly provide the Email Money Transfer Answer to claim or decline the Transaction amount;
h) FirstOntario Credit Union, the other Participating Financial Institution, and CertaPay or CertaPay’s agents are entitled to pay the Transaction amount to anyone who, using EMT Services, claims to be the recipient and successfully provides the Email Money Transfer Answer;
i) FirstOntario Credit Union will not be liable for losses or damages incurred as a result of a person other than the intended recipient guessing or obtaining the Email Money Transfer Answer;
j) as the sender, the Member will not include the Email Money Transfer Answer in the Transaction details;
k) as the recipient, the Member will not disclose the Email Money Transfer Answer except as required to claim or decline the Transaction;
l) the recipient may claim a Transaction amount using the online banking services of FirstOntario Credit Union or another Participating Financial Institution or through the CertaPay payment service;
m) if the recipient declines a Transaction that the Member initiated, the Transaction will be returned to the Member;
n) funds usually arrive in the recipient’s account within 3 to 5 business days from the day the recipient successfully claims the Transaction. FirstOntario Credit Union cannot guarantee the date of deposit;
o) if the Member is the sender, the Transaction will be returned to the Member if the recipient does not claim the Transaction within 30 days of the date the Transaction is initiated, if the Transaction cannot be successfully sent to the recipient’s email address as provided by the Member, or if the recipient declines the Transaction. The Member is responsible for providing the recipient’s correct email address and further agrees that the recipient has consented to the Member’s use of the email address for EMT Services purposes, including its provision to FirstOntario Credit Union, the other Participating Financial Institution, and CertaPay;
p) if the recipient successfully claims the Transaction using the CertaPay payment service but provides incorrect account information, CertaPay or its agent may request correct account information from the recipient or may mail an Instrument to the recipient. FirstOntario Credit Union will not pay interest on the Transaction amount;
q) FirstOntario Credit Union may cancel a Transaction if it has reason to believe that a mistake has occurred or if it believes that the Transaction is a product of unlawful or fraudulent activity;
r) the Member is responsible for providing a valid email address and will immediately update it via Direct Services if there are any changes to said email address;
s) as the sender, the Member may cancel a Transaction up to the time the recipient successfully claims the Transaction. As the recipient, the Member acknowledges that a Transaction may be cancelled up to the time the Member successfully claims the Transaction;
t) all disputes will be handled directly between the sender and the recipient;
u) FirstOntario Credit Union may refuse to provide EMT Services for the Member; and
v) FirstOntario Credit Union and Central 1 will not be liable for any cost, expense, loss, damage, or inconvenience of any nature or kind whatsoever arising as a result of a delay in processing a Transaction or for Transactions claimed by someone other than the intended recipient.
4.9 FOREIGN CURRENCY TRANSACTIONS– If the Member provides instructions to FirstOntario Credit Union on an account that is denominated in a currency other than the currency of the Account, a conversion of currency may be required. In all such Transactions and at any time a conversion of currency is made, FirstOntario Credit Union may act as principal with the Member in converting the currency at rates established or determined by FirstOntario Credit Union, affiliated parties, or parties with whom FirstOntario Credit Union contracts. FirstOntario Credit Union, its affiliates, and contractors may earn revenue and commissions, in addition to applicable service charges, based on the difference between the applicable bid and ask rates for the currency and the rate at which the rate is offset in the market.
4.10 NO OBLIGATION – Nothing in this Agreement will oblige FirstOntario Credit Union to:
a) honour any negotiable Instrument drawn by the Member on FirstOntario Credit Union,
b) accept any monies for investment in shares or for deposit,
c) redeem shares,
d) transfer money, or
e) lend money to the Member.
4.11 eSWITCH® – The Member hereby authorizes FirstOntario Credit Union or its agent to:
a) use the Member’s Personal Information in the records of FirstOntario Credit Union and authorized signature to complete the eSwitch® process;
b) contact the Member to gather the Member’s pre - authorized transaction information;
c) notify billers, on the Member’s behalf, of a change to the Member’s account information in order to transfer the Member’s pre-authorized transactions to the above designated account;
d) effect the transaction(s) referred to in this authorization form and such other transactions as the Member may subsequently authorize (verbally or otherwise) and, if applicable, to close the Member’s prior account(s) noted above and direct the applicable institution to forward the balance in the Member’s prior account to the Member’s Credit Union account on the Member’s behalf. In addition, the Member releases FirstOntario Credit Union and its agents from any obligation to verify these transactions.
4.12 ROUND UP & SAVE – The Member hereby authorizes FirstOntario Credit Union to “round-up” each approved Point of Sale (POS) purchase transaction to the designated “Purchase Payment Account” to the nearest dollar increment as determined by the Member. In addition the Member understands:
a) If the debit account selected for the Round-Up & Save feature is a joint account, the joint account holder’s POS purchases will also be rounded up provided the joint Member has a Debit Card.
b) Calculation of the Round-Up & Save amount of the foreign currency POS transactions will be based on the Canadian POS debit amount.
c) POS transactions that require manual adjustments will not be considered a POS transaction available for the Round-Up & Save feature.
d) It is understood and agreed that in the event there are insufficient funds in the Purchase Payment Account the transfer will be cancelled. However, the originally approved POS purchase transactions will not be affected.
e) The Round-Up & Save feature can be modified or cancelled in person at any FirstOntario Credit Union branch. The POS purchase transactions made on the day of cancellation will not have the Round- Up & Save transaction processed.
4.13 NIGHT DEPOSIT SERVICE – At the Member's request, FirstOntario Credit Union will accept for deposit monies or negotiable Instruments acceptable to FirstOntario Credit Union placed in an envelope or deposit bag supplied by FirstOntario Credit Union and placed by the Member in the night depository, provided that the monies and negotiable Instruments are accompanied by a properly completed deposit slip signed by the Member and enclosed in the same envelope or deposit bag.
FirstOntario Credit Union will open the night depository on each business day of the branch during regular business hours and will deposit any monies and negotiable Instruments acceptable to FirstOntario Credit Union in the manner directed by the Member.
The Member agrees that the authorized Financial Institution officers who open the night depository and deposit the monies or negotiable Instruments to the credit of the Account are acting as the Member's agent up to the time at which the monies or negotiable Instruments are actually entered and recorded as having been deposited to the Account.
5. MEMBER INSTRUCTIONS
5.1 INSTRUMENTS – The Member authorizes FirstOntario Credit Union, without
a) the Instruments are signed by the Member, and
b) the signatures comply with the specimen signatures provided to FirstOntario Credit Union, regardless that such Instruments are:
c) drawn to the order of the Member on behalf of the Member who signed them,
d) payable to cash or bearer,
e) payable to the order and negotiated by or on behalf of the Member,
f) encashed or tendered to pay the obligations of the Member, or
g) deposited to the credit of the Member.
5.2 COUNTERMANDS – Any countermand of payment (commonly called a "stop payment") of a negotiable Instrument drawn on the Account must be in writing and signed by the Member who signed the negotiable Instrument that is the subject of the countermand, or by some other person(s) duly authorized by the Member. On receiving a countermand of payment of a negotiable Instrument drawn on the Account, FirstOntario Credit Union will:
a) use reasonable diligence to comply with the countermand, but
b) not be liable to the Member or any other person by reason of complying with, or failing to comply with, the countermand, whether FirstOntario Credit Union is negligent, willfully negligent, or otherwise. The Member hereby agrees to indemnify and save FirstOntario Credit Union harmless for all liability, costs, damages, and expenses incurred by FirstOntario Credit Union by reason of it complying with, or failing to comply with, a countermand of payment. This indemnity will enure to the benefit of FirstOntario Credit Union and will be binding upon the Member and their heirs, executors, successors, and assigns.
5.3 REMOTE INSTRUCTIONS – The Member may provide Remote Instructions to any branch of FirstOntario Credit Union, as permitted by FirstOntario Credit Union, online through the Direct Services web portal, or through FirstOntario Credit Union’s telephone banking service, if any. The Remote Instructions may concern the Account maintained at that branch, or concern other Transactions and arrangements conducted at or with that branch. FirstOntario Credit Union may, but will not be obliged to, act on Remote Instructions received in the name of the Member along with any requisite PAC and/or PIW, if any, to the same extent as if the Remote Instructions were written instructions delivered to FirstOntario Credit Union by mail signed by the Member authorized to operate the Account. Any such Remote Instructions are deemed genuine.
FirstOntario Credit Union may, in its sole discretion, acting reasonably, delay acting on or refuse to act on any Remote Instruction. A Remote Instruction is deemed received by FirstOntario Credit Union only when actually received and brought to the attention of an authorized officer of FirstOntario Credit Union capable of acting upon and implementing the Remote Instruction. Remote Instructions can be transmitted to FirstOntario Credit Union at the telephone or fax number or email address provided by FirstOntario Credit Union, or at such other telephone or fax number or email address as FirstOntario Credit Union may advise the Member by notice in writing, or online through the Direct Services web portal. Any of the persons that constitute the Member may act alone and provide Remote Instructions to FirstOntario Credit Union, even if 2 or more signatures are required generally to operate the Account. FirstOntario Credit Union, acting reasonably, is entitled to assume that any person identifying himself or herself as the Member is in fact the Member, and can rely upon such, and FirstOntario Credit Union may act on the Remote Instructions provided by any such person. All Remote Instructions given to FirstOntario Credit Union in the name of the Member will bind the Member.
5.4 ACCESS TERMINAL TRANSACTIONS – The Member acknowledges and agrees that:
a) using the PAC, PIN, and/or PIW to authorize a Transaction constitutes authorization of that Transaction in the same manner as if authorization were given by the Member in person or as otherwise contemplated or permitted by this agreement;
b) the Member will be bound by each such Transaction; and
c) once a PAC, PIN, and/or PIW has been used to authorize a Transaction, the Transaction may not be revoked or countermanded. This agreement and the fact that the Member has use of a Debit Card does not give the Member any credit privileges or any entitlement to overdraw the Account, except as provided by separate agreement with FirstOntario Credit Union. The Member irrevocably authorizes and directs FirstOntario Credit Union to debit or credit, as the case may be, the amount of any Transaction to the Account authorized using the PAC, PIN, and/or PIW, in person by the Member, or as otherwise contemplated or permitted by this agreement, in accordance with the normal practices of FirstOntario Credit Union, which may be amended from time to time without notice.
5.5 LOST OR DESTROYED INSTRUMENT – If an Instrument drawn on the Account is lost or destroyed while in the possession of another financial institution or its agents, FirstOntario Credit Union may, for all purposes, treat a copy of the Instrument, certified as being a true copy by the other financial institution, as though it were the original Instrument.
5.6 LOST OR STOLEN DEBIT CARD OR COMPROMISED PIN – If the Member suspects or becomes aware that the Debit Card is lost or stolen or that the PIN has been made accessible to another person, then the Member will notify FirstOntario Credit Union or its agent immediately, in person or by telephone. Notification will only be considered given if the Member speaks directly to an authorized Financial Institution officer or its agent. Upon receipt of such notice the Member's liability for further unauthorized use of the Debit Card will terminate. If the Member notified FirstOntario Credit Union promptly and cooperated in any investigation, once FirstOntario Credit Union is satisfied that the Member is the victim of fraud, theft, or coercion by trickery, force, or intimidation, the Member will be entitled to recover from FirstOntario Credit Union any direct losses from the Account through the use of the Debit Card in such fraud, theft, or coercion.
6. COLLECTIONS
6.1 DEPOSITS – FirstOntario Credit Union may:
a) collect or present for acceptance or payment, through such banks or other agents as FirstOntario Credit Union may deem best, all negotiable Instruments delivered by the Member for deposit, discount, collection, or otherwise,
b) accept in payment of, or remittance for, such negotiable Instruments, cash or bank drafts, cheques, settlement cards, clearing house slips, or any other evidence of payment from the banks or other agents, and
c) place a hold on the proceeds of a negotiable Instrument presented by the Member until FirstOntario Credit Union accepts payment of, or remittance for, such negotiable Instrument.
Any deposit made on any day during which FirstOntario Credit Union is not open for business, or at any time during which FirstOntario Credit Union is not open for business, may be credited to the Account on the next business day of FirstOntario Credit Union.
The banks or other agents described in a) and b) above will be deemed the Member's agent and not FirstOntario Credit Union's agent. FirstOntario Credit Union will not be liable for:
d) any loss resulting from the acceptance of such evidence as a payment in lieu of cash,
e) the failure of any bank or any agent to remit the same,
f) the nonpayment of any cheque, bank draft, settlement card, clearing house slip, or any other evidence of payment accepted in payment or as a remittance from any other bank or agent, or
g) the default, neglect, or mistakes of any such banks or agents. FirstOntario Credit Union will be responsible only for the monies actually received by FirstOntario Credit Union from such banks or agents.
6.2 HOLD ON ACCOUNTS OR TRANSACTIONS – FirstOntario Credit Union may place a hold on the Account if:
a) FirstOntario Credit Union becomes aware of suspicious or possible fraudulent or unauthorized Account activity that may cause a loss to the Member, FirstOntario Credit Union, or an identifiable third party;
b) an issue arises as to who the proper signing authorities are on the Account;
or
c) a claim is made by a third party to the funds in the Account which, in FirstOntario Credit Union’s sole discretion, is potentially legitimate. The Member authorizes FirstOntario Credit Union to make such inquiries and do such things, at the Member’s expense, as FirstOntario Credit Union deems necessary to resolve any of the above noted issues, including applying, at the Member’s expense, to a court of competent jurisdiction (a “Court”) to pay funds into Court and/or seek directions from a Court. The Member agrees to indemnify FirstOntario Credit Union for any expense or cost incurred by FirstOntario Credit Union arising from the need to place a hold on the Account or Transactions, including but not limited to expenses incurred relating to an application to a Court. If the Member is requested and fails to do so, FirstOntario Credit Union may, in its sole discretion, close or place a hold on the Account, free of any responsibility or liability for unprocessed Transactions during such time. Any credit to the Account for any non-cash Instrument is provisional and subject to a hold or reversal unless FirstOntario Credit Union has received actual irrevocable payment.
6.3 RETURNED ITEMS – FirstOntario Credit Union is authorized to debit the Account with the amount of any negotiable Instrument that:
a) is not paid on presentation,
b) having been paid, FirstOntario Credit Union may be called upon to refund,
c) may be dishonoured by nonacceptance or nonpayment,
d) is drawn on the Account of a party that is bankrupt or insolvent,
e) the proceeds of which, through no fault of FirstOntario Credit Union, have been lost, stolen, or destroyed,
f) the proceeds of which, for any reason, FirstOntario Credit Union is unable to collect or withdraw,
g) has been cashed, negotiated, or credited to the Account but that has not been found good, or
h) is found to be forged, fraudulent, counterfeit, or unauthorized, regardless of whether or not the negotiable Instrument has cleared. The Member hereby agrees to indemnify and save FirstOntario Credit Union harmless for all liability, costs, damages, and expenses incurred by FirstOntario Credit Union in connection with the foregoing, and FirstOntario Credit Union may debit the Account with such costs, charges, and expenses. This indemnity will enure to the benefit of FirstOntario Credit Union and will be binding upon the Member and their heirs, executors, successors, and assigns.
6.4 OVERDRAFTS - If:
a) FirstOntario Credit Union honours a cheque or other Instrument drawn by the Member on any of the accounts and insufficient funds stand to the credit of that Account to pay the negotiable Instrument in full, or
b) a negotiable Instrument delivered by the Member to FirstOntario Credit Union for deposit, discount, collection, or otherwise is returned to FirstOntario Credit Union, dishonoured, and insufficient funds stand to the credit of the Account to permit FirstOntario Credit Union to debit the full amount of the dishonoured negotiable Instrument, or
c) FirstOntario Credit Union charges a fee, service charge, or other debit FirstOntario Credit Union is authorized to charge to one of the accounts, and if the funds standing to the credit of that Account are less than the amount charged to the Account, Then, in such an event, FirstOntario Credit Union may, at its discretion:
d) exercise its lien rights against the Membership shares and deposits of the Member, and set off any sum standing to the credit of the Member on the books of FirstOntario Credit Union towards payment of the overdraft created by the event; and
e) treat the event as constituting an application by the Member for a loan for an amount equal to any amount of any overdraft created by the event that is not discharged by the exercise by FirstOntario Credit Union of its lien and set off rights under (d) above. If FirstOntario Credit Union grants a loan under e) above, the loan will be immediately due and payable forthwith without demand and the Member will pay interest on the balance of the loan at FirstOntario Credit Union's Overdraft Rate in effect from time to time. The foregoing provisions do not give the Member any right to overdraw an Account or to authorize or permit anything, including a PAD or a Transaction authorized through a Debit Card that would result in a negative balance in any account. The Member agrees to indemnify FirstOntario Credit Union under article 8.3, Indemnity, d).
7. ACCOUNT SECURITY AND RISK
7.1 MEMBER RIGHTS FOR INNOCENT BREACH - Subject to the provisions of this agreement:
a) If the Member did not reveal the PAC, PIN, and/or PIW to any other person, other than authorized Financial Institution agents or officers when required by FirstOntario Credit Union, or write it down or otherwise record it, and changed the PAC, PIN, and/or PIW when required by this agreement, the Member will not be liable for any unauthorized use that occurs after FirstOntario Credit Union has received written notice from the Member that the PAC, PIN, and/or PIW may have become known to someone other than the Member. FirstOntario Credit Union will not be considered to have received written notice until FirstOntario Credit Union gives the Member written acknowledgement of receipt of such notice; and
b) FirstOntario Credit Union will not otherwise be liable for any damages or other liabilities that the Member may incur by reason of FirstOntario Credit Union acting, or failing to act, on Remote Instructions given in the name of the Member whether or not the Member actually gave the Remote Instructions. FirstOntario Credit Union will not be liable for any damages or other liabilities that the Member may incur by reason of FirstOntario Credit Union acting, or failing to act, on no statement requests made by the Member whether or not the Member actually gave the Remote Instructions.
7.2 PROCEDURES FOR ADDRESSING UNAUTHORIZED TRANSACTIONS AND OTHER TRANSACTION PROBLEMS – In the event of a problem with a Transaction or an unauthorized Transaction the Member will report the issue promptly to FirstOntario Credit Union. FirstOntario Credit Union will investigate and respond to the issue on a timely basis. FirstOntario Credit Union will not unreasonably restrict the Member from the use of any funds subject to dispute, as long as it is reasonably evident that the Member did not cause or contribute to the problem or unauthorized Transaction, has fully cooperated with the investigation, and has complied with this agreement. FirstOntario Credit Union will respond to reports of a problem or unauthorized Transaction within 10 business days and will, within a reasonable period of time thereafter, indicate what reimbursement, if any, will be made for any loss incurred by the Member. Reimbursement will be made for losses from a problem or unauthorized Transaction in this time frame provided that the Member has complied with this agreement and on the balance of probabilities it is shown that the Member took all reasonable and required steps to:
a) protect the confidentiality of the PAC, PIN, and/or PIW as required by this agreement, and
b) use security safeguards to protect against loss, theft, and unauthorized access as required by this agreement.
7.3 DEBIT CARD CODE OF PRACTICE –
This agreement is drafted with due regard to the Canadian Code of Practice for Consumer Debit Card Payment Services, a copy of which is available from FirstOntario Credit Union on request. If the Member is not satisfied with FirstOntario Credit Union's response, FirstOntario Credit Union will provide the Member, upon request, with a written account of its investigation and the reason for its findings. If the Member is not satisfied, the issue will be referred for mediation to either a Financial Institution system dispute resolution service, or if no such service is available, to an external mediator if agreed between the Member and FirstOntario Credit Union. Neither FirstOntario Credit Union nor the Member will have the right to start court action until 30 days have passed since the problem was first raised with FirstOntario Credit Union.
Any dispute related to goods or services supplied in a Point-of-Sale Transaction is strictly between the Member and the Merchant, and the Member will raise no defence or claim against FirstOntario Credit Union.
7.4 ACCESS TERMINAL SECURITY – If Direct Services are made available through the Internet or a telephone service provider, the Member acknowledges that although FirstOntario Credit Union uses security safeguards to protect against loss, theft, and unauthorized access, because of the nature of data transmission, security is not guaranteed and information is transmitted at the risk of the Member. The Member acknowledges and shall ensure that any Access Terminal used to access Direct Services has a current anti-virus program, an anti-spyware program, and a firewall, and that it is their personal responsibility to reduce the risk of Contaminants or online attacks and to comply with this provision. The Member further acknowledges that to reduce the risk of unauthorized access to the Account through the Access Terminal, the Member will sign out of Direct Services and, where applicable, close the browser when they are finished using it. The Member further acknowledges that using public or shared computers and Access Terminals, or Access Terminals in a public place, to access Direct Services increases the risk of unauthorized access to the Account and will take all reasonable precautions to avoid such use and inadvertent disclosure of the PAC, PIN, and/or PIW.
7.5 PAC, PIN, AND PIW CONFIDENTIALITY – FirstOntario Credit Union can assign and/ or require the Member to select and use a PAC, PIN, and/or PIW in connection with this agreement. The Member agrees to keep the PAC, PIN, and PIW confidential and will only reveal them to authorized Financial Institution agents or officers when required by FirstOntario Credit Union. The Member agrees not to record the PAC, PIN, or PIW in any format or medium. The Member can change the PAC, PIN, or PIW at any time. The Member agrees to change the PAC, PIN, or PIW if and when required by FirstOntario Credit Union. The Member acknowledges that the PAC, PIN, and/or PIW must be changed if there is a change in the persons authorized to provide Remote Instructions on the Account. The Member is responsible for all use of the PAC, PIN, and/or PIW and for all Transactions on the Account.
The Member acknowledges that FirstOntario Credit Union may from time to time implement additional security measures, and the Member will comply with all instructions and procedures issued by FirstOntario Credit Union in respect of such security measures. The Member is aware of the risks of unsolicited email, telephone calls, and text message transmissions from persons purporting to be representatives of FirstOntario Credit Union. The Member agrees not to respond to such unsolicited communications and will only initiate communications with FirstOntario Credit Union either through FirstOntario Credit Union’s internet banking website or through FirstOntario Credit Union’s published contact information as shown on FirstOntario Credit Union’s website.
7.6 EXCLUSION OF FINANCIAL INSTITUTION RESPONSIBILITY – FirstOntario Credit Union is not responsible for any loss or damage suffered or incurred by the Member except to the extent caused by the gross negligence or intentional or wilful misconduct of FirstOntario Credit Union, and in any such case FirstOntario Credit Union will not be liable for any indirect, special, consequential, or exemplary damages (including, but not limited to, loss of profits) regardless of the cause of action and even if FirstOntario Credit Union has been advised of the possibility of such damages. In no event will FirstOntario Credit Union be liable for any cost, loss, or damage (whether direct, indirect, special, or consequential) suffered by the Member that is caused by:
a) the actions of, or any failure to act by, any Third Party (and no Third Party will be considered to be acting as an agent for FirstOntario Credit Union unless expressly authorized to do so),
b) the inaccuracies in, or inadequacies of, any information provided by the Member to FirstOntario Credit Union,
c) the failure by FirstOntario Credit Union to perform or fulfill any of its obligations to the Member, due to any cause beyond FirstOntario Credit Union’s control, or
d) forged, unauthorized, or fraudulent use of services, or forged, unauthorized, or fraudulent instructions or Instruments, or material alteration to an instruction, including Remote Instructions. Page 6 of 8 21012016 v1
7.7 RISK AND DUTIES – Except for loss caused exclusively by FirstOntario Credit Union’s gross negligence or intentional or wilful misconduct, and subject to the limitations of liability in this agreement, the Member assumes all risk of loss due to the use of the Account, including without limitation, the risk of Third Party fraud. The Member further agrees that they will notify FirstOntario Credit Union immediately:
a) of any suspected or actual misuse or unauthorized use of the PAC, PIN, and/or PIW, or
b) if the PAC, PIN, and/or PIW becomes known to anyone other than the Member.
The Member agrees to change the PAC, PIN, and/or PIW in the event of a) or b) above.
The Member acknowledges that the Member is responsible for all use made of the PAC, PIN, and/or PIW and that FirstOntario Credit Union is not liable for the Member’s failure to comply with any part of this agreement. The Member is liable for all authorized and unauthorized use, including all Transactions. The Member is also liable for all fraudulent or worthless deposits made into the Account. Without limiting the generality of the foregoing, the Member expressly acknowledges and agrees that they shall be bound by and liable for any use of the PAC, PIN, and/or PIW by a member of the Member’s household. FirstOntario Credit Union will not be liable to the Member for any action or failure to act of a Merchant or refusal by a Merchant to honour the Debit Card, whether or not such failure or refusal is the result of any error or malfunction of a device used to authorize the use of the Debit Card for a Point-of-Sale Transaction. Except for direct losses resulting from circumstances beyond the Member's control such as technical problems and unauthorized use of the Debit Card and PIN, FirstOntario Credit Union will not be liable for any loss, damage, or injury arising from the use of ATMs or Point-of-Sale terminals or from any mechanical or operational failure of any such devices, and the Member releases FirstOntario Credit Union from liability for any such loss, damage, or injury. In the event of alteration of the Account balance due to technical problems, card issuer errors, and system malfunctions, the Member will be liable only to the extent of any benefit they have received, and will be entitled to recover from FirstOntario Credit Union any direct losses the Member may have suffered. The Member will not use the Debit Card and PIN for any unlawful purpose, including the purchase of goods and services prohibited by local law applicable in the Member's jurisdiction. The Member is liable for all transfers to linked accounts. The Member bears all risk for all such Transactions. Where the Member knows of facts that give rise or ought to give rise to suspicion that any Transactions, or instructions in respect of the Account, or Instruments deposited to the Account are fraudulent, unauthorized, counterfeit, or otherwise likely to be returned to FirstOntario Credit Union or found invalid for any reason, the Member has a duty to make reasonable inquiries of proper parties into such Transactions, instructions, or Instruments, as the case may be, to determine whether they are valid authorized Transactions, instructions, or Instruments, as the case may be, before negotiating or, alternatively, accessing any funds derived from such Transactions, instructions, or Instruments, and to disclose to FirstOntario Credit Union, the Member’s suspicion and the facts upon which the Member’s suspicion is based (“Suspicious Circumstances”). FirstOntario Credit Union may, in its sole discretion, investigate any Suspicious Circumstances disclosed by the Member but FirstOntario Credit Union does not owe the Member any obligation to undertake its own investigation of Suspicious Circumstances. FirstOntario Credit Union may place a hold on all or some of the Accounts pending investigation of any improper use of any Account. Any hold imposed by FirstOntario Credit Union pursuant to any of the terms of this agreement, or investigation undertaken by FirstOntario Credit Union, is imposed or undertaken by FirstOntario Credit Union at FirstOntario Credit Union’s sole discretion and for FirstOntario Credit Union’s sole benefit. Release of a hold by FirstOntario Credit Union is not a confirmation that a Transaction, instruction, or Instrument is in fact good and may not be relied upon as such by the Member. If, to the satisfaction of FirstOntario Credit Union, any improper use is established, FirstOntario Credit Union can withdraw or suspend operation of the Account without notice.
7.8 FINANCIAL INSTITUTION RECORDS – FirstOntario Credit Union’s records of all Transactions will be deemed to be correct and will be conclusive and binding on the Member. All Transactions will appear on the regular statements of account for the Account.
If the Member thinks that the records of FirstOntario Credit Union contain an error or omission, or reflect unauthorized Account activity, the Member must give immediate written notice to FirstOntario Credit Union, and in any event, must do so within the time provided in this agreement. A copy of any fax or email message or other Remote Instructions or FirstOntario Credit Union’s notes of any Remote Instructions given by telephone may be entered into evidence in any court proceedings as if it were an original document signed by the Member. The Member will not object to the admission of FirstOntario Credit Union’s or Central 1’s records as evidence in any legal proceeding on the grounds that such records are notoriginals, are not in writing, are hearsay, or are documents containing information extracted from a computer and all such records will be conclusive evidence of the Remote Instructions in the absence of documentary recorded evidence to the contrary.
In the absence of evidence to the contrary, the records of FirstOntario Credit Union are conclusive for all purposes, including litigation, in respect of any other matter or thing relating to the state of the Accounts between the Member and FirstOntario Credit Union in respect of any Transaction.
7.9 LIABILITY FOR ERRORS AND OMISSIONS – If FirstOntario Credit Union makes an error or omission in recording or processing any Transaction, FirstOntario Credit Union is only liable for the amount of the error or omission if the Member has not caused or contributed to the error or omission in any way, has complied with this agreement, has given written notice to FirstOntario Credit Union within the time provided in this agreement, and to the extent the liability is not otherwise excluded by this agreement.
If the Member has given such notice, FirstOntario Credit Union’s maximum liability is limited to the amount of the error or omission. In no event will FirstOntario Credit Union be liable for any delay, inconvenience, cost, loss, or damage (whether direct, special, indirect, exemplary, or consequential) whatsoever caused by, or arising from, any such error or omission.
8. THIRD PARTIES
8.1 LINKS – If Direct Services are made available through the Internet, FirstOntario Credit Union’s website may provide links to other websites, including those of Third Parties who may also provide services to the Member. The Member acknowledges that all those other websites and Third Party services are independent from FirstOntario Credit Union’s and may be subject to separate agreements as govern their use. FirstOntario Credit Union and Central 1 have no liability for those other websites or their contents or the use of Third Party services. Links are provided for convenience only and the Member assumes all risk resulting from accessing or using such other websites or Third Party services.
8.2 SERVICES – FirstOntario Credit Union and Central 1 may from time to time make services provided by Third Parties available through FirstOntario Credit Union’s website or Direct Services. The Member acknowledges and agrees that:
a) FirstOntario Credit Union and Central 1 make the services of Third Parties available through FirstOntario Credit Union’s website or Direct Services for the convenience of Members. The services are provided by the Third Party and not FirstOntario Credit Union or Central 1. The Member’s relationship with the Third Party shall be a separate relationship, independent of the relationship between the Member and FirstOntario Credit Union and Central 1 and such a relationship is outside the control of FirstOntario Credit Union and Central 1;
b) FirstOntario Credit Union and Central 1 make no representation or warranty to the Member with respect to any services provided by a Third Party even though those services may be accessed by the Member through FirstOntario Credit Union’s website or through Direct Services;
c) the Member assumes all risks associated with accessing or using the services of Third Parties;
d) FirstOntario Credit Union and Central 1 have no responsibility or liability to the Member in respect of services provided by a Third Party;
e) any dispute that relates to services provided by a Third Party is strictly between the Member and the Third Party and the Member will raise no defence or claim against FirstOntario Credit Union and/or Central 1; and
f) the Proceeds of Crime (Money Laundering) and Terrorist Financing Actand
Regulations may apply to the services provided by Third Parties and that the Third Parties will from time to time adopt policies and procedures to address the reporting, record-keeping, and client identification requirements of that legislation.
8.3 INDEMNITY – The Member agrees to indemnify and hold FirstOntario Credit Union and its service providers and Central 1 and all of their connected parties, including without limitation their respective agents, directors, officers, employees, affiliates, and licensees (collectively, the “Indemnified Parties”) harmless from and against any and all liabilities and costs, including without limitation reasonable legal fees and expenses incurred by the Indemnified Parties in connection with any claim or demand arising out of or connected to the Member’s use of the Account. Members must assist and cooperate as fully as reasonably required by the Indemnified Parties in the defense of any such claim or demand. The disclaimers, liability exclusions, liability limitations, and indemnity provisions in this agreement survive indefinitely after the termination of this agreement and apply to the extent permitted by law. Without limiting the foregoing, the Member will indemnify and save the Indemnified Parties harmless from and against all liability, costs, loss, and damages, including direct, indirect, and consequential incurred by the Indemnified Parties as a result of:
a) any of the Indemnified Parties making the Account available to the Member,
b) any of the Indemnified Parties acting upon, or refusing to act upon, Remote Instructions,
c) any of the Indemnified Parties acting upon, or refusing to act upon, no statement requests made by the Member,
d) any Transaction that would result in a negative balance in the Account, or
e) any other Transaction authorized by the Member.
This indemnity will enure to the benefit of the Indemnified Parties and will be binding upon the Member and the Member’s heirs, executors, successors, and assigns and shall survive the termination of this agreement for any act or omission prior to termination as gives rise to an indemnified claim, even if notice is received after termination.
9. ACCOUNT RECORDS
9.1 PAPER STATEMENTS – Unless the Member requests FirstOntario Credit Union to hold the Member’s statement of account for the Account for pick up by the Member, or appoints in writing an agent to pick up the statement of account for the Account, or consents to the statement of account for the Account being made available electronically, or requests no statement of account for the Account to be sent by FirstOntario Credit Union, FirstOntario Credit Union will mail such statement of account for the Account to the Member at the address the Member last gave in writing. It is the Member’s responsibility to notify FirstOntario Credit Union immediately of any change in the Member’s address.
9.2 NO PAPER STATEMENT ACKNOWLEDGEMENT – If, at the request of the Member, FirstOntario Credit Union agrees to cease printing and mailing statements of account for the Account to the Member, the Member acknowledges and agrees that the Member will be responsible to obtain (whether from FirstOntario Credit Union or using Direct Services) and review, after the end of each calendar month, a statement of account for the Account.
9.3 COMPLIANCE WITH NOTIFICATION DATE – The Member will be responsible to obtain (whether from FirstOntario Credit Union or using Direct Services) and review, after the end of each calendar month, a statement of the activity in the Account, and will, by no later than the end of the following calendar month (the “Notification Date”), notify FirstOntario Credit Union of any errors, irregularities, omissions, or unauthorized Transactions of any type in that account record or of any Instruments or other items or of any forgeries, fraudulent, or unauthorized Transactions of any type and any debits wrongly made to the Account.
Notwithstanding any other provision of this agreement, after the Notification Date (except as to any errors, irregularities, omissions, or unauthorized Transactions of any type of which the Member has notified FirstOntario Credit Union in writing on or before the Notification Date), the Member agrees that:
a) the amount of the balances shown on the last day of the calendar month is correct and binding on the Member subject to the right of FirstOntario Credit Union to make reversals in accordance with this agreement,
b) all amounts charged to the Account are valid,
c) the Member is not entitled to be credited with any amount not shown on the statement of account for the Account for that calendar month,
d) the Member has verified the validity of any Instruments and instructions, and
e) the use of any service shown is correct.
9.4 MEMBER ACKNOWLEDGEMENT – The Member acknowledges that:
a) notwithstanding a negotiable Instrument may be provisionally posted to the Account, it is not considered processed until it has been honoured and irrevocably collected by FirstOntario Credit Union and the time for return by any process of law has expired. The credit represented by a negotiable Instrument that is not honoured and collected, or is charged back or tainted by fraud, may be reversed from the Account notwithstanding any provisional posting. The statement of account for the Account will be modified accordingly, and
b) notwithstanding a deposit or other credit may be provisionally posted to the Account, it is not considered processed until it has been verified and accepted by FirstOntario Credit Union. A deposit or other credit that is not verified and accepted may be reversed from the Account notwithstanding any provisional posting. The statement of account for the Account will be modified accordingly.
9.5 PAD REIMBURSEMENT – Despite article 9.3, Compliance with Notification Date above, if the Member has authorized PADs to be issued against any of the Accounts, the Rules provide that, under specified conditions, claims for reimbursement of PADs may be made and:
a) where the purpose of the PAD was for payment of consumer goods and services, the time period for making such a claim is 90 calendar days from the date of debiting, or
b) where the purpose of the PAD was for payment of goods and services related to commercial activities of the Member, the time period for making such a claim is 10 business days from the date of debiting. Claims must be made in writing to FirstOntario Credit Union within the specified time period and in compliance with the Rules, as amended from time to time.
9.6 RECORDS AND CHEQUE IMAGING – FirstOntario Credit Union will determine, in its sole discretion, whether Instruments and other items will be returned to the Member with the statement of account for the Account.
If FirstOntario Credit Union implements an imaging program, FirstOntario Credit Union will determine, in its sole discretion, whether copies of images of Instruments and other items will be provided for the statement of account for the Account. The Member acknowledges that copies of images of Instruments and other items may be provided before FirstOntario Credit Union has determined whether the Instrument or other item will be honoured or accepted and agrees that copies of images of Instruments and other items are made available by FirstOntario Credit Union as a service to the Member and that the provision of copies of images of Instruments and other items does not mean that the Transaction has been processed or in any way oblige FirstOntario Credit Union to honour or accept the Instrument or other item. The Member acknowledges that if FirstOntario Credit Union adopts an imaging program, the physical Instruments and other items may be destroyed. If FirstOntario Credit Union has implemented an imaging program and determines not to include copies of images of Instruments and other items with the statement of account for the Account, FirstOntario Credit Union will ensure that copies of images can be made available to the Member upon request for at least 5 years following the date of the statement of account for the Account on which the Instrument or other item appears, subject to payment of the service charges established by FirstOntario Credit Union from time to time.
9.7 VIEWING DOCUMENTS – FirstOntario Credit Union may, in connection with Direct Services, permit the Member to view and print images of documents. The Member acknowledges and agrees that such images are made available by FirstOntario Credit Union as a service to the Member and the provision of such images does not in any way oblige FirstOntario Credit Union.
10. OPERATION OF THE ACCOUNT
10.1 MODIFICATION OF AGREEMENT– FirstOntario Credit Union may, in its sole discretion, amend the terms and conditions of this agreement as it relates to the Member’s future use of the Account from time to time, for any reason, without any liability to the Member or any other person. FirstOntario Credit Union may provide notice of a change to this agreement by mailing notice to the Member’s last known address, by posting notice at FirstOntario Credit Union’s premises, by personal delivery, or by any other means FirstOntario Credit Union, acting reasonably, considers appropriate to bring the modification to the attention of the Member. The Member is responsible for regularly reviewing the terms and conditions of this agreement. If the Member uses the Account after the effective date of an amendment to this agreement, it will mean that the Member agrees to the amendment and adopts and is bound by the newer version of this agreement. The Member may not change, supplement, or amend this agreement by any means.
10.2 TERMINATION – This agreement may be terminated by either FirstOntario Credit Union or the Member on not less than 1 business day’s prior written notice. The member shall not:
a) use the Account and/or Third Party services for an illegal, fraudulent, or defamatory purpose, and
b) take steps, or cause, or permit anything to be done that could undermine the security or integrity of the Account and/or Third Party services (including activities that threaten to harm or cause harm to any other participant in the provision, utilization, or support of the Account and/or Third Party services).
In the event of a breach of the provisions of a) or b), the Account or any service provided by a Third Party may be suspended or terminated.
The Member acknowledges and agrees that FirstOntario Credit Union may, in its sole discretion, at any time or for any reason, restrict, suspend, or terminate the
Member's Account privileges without advance notice to the Member. The Member acknowledges and agrees to indemnify and save harmless FirstOntario Credit
Union from and against any and all damages, costs, expenses, and liability arising or incurred by FirstOntario Credit Union as a result of any use of the Account by the Member that:
a) is inconsistent with a restriction imposed on the use of the Account by FirstOntario Credit Union and communicated to the Member, or
b) takes place following the suspension or termination of service privileges by
FirstOntario Credit Union.
The Member will immediately return all Debit Cards issued to it upon:
a) ceasing to be a member of FirstOntario Credit Union,
b) termination of this agreement,
c) termination of Debit Card privileges, or
d) otherwise upon request by FirstOntario Credit Union. The Member will be responsible for paying all legal fees and expenses (on a solicitor and own client basis) incurred by FirstOntario Credit Union in terminating the Account.
The Member's insolvency, bankruptcy, dissolution, or death will constitute an automatic revocation of the privileges associated with the Account. Any notice of termination shall not release the Member from any obligations incurred under this agreement prior to its termination.
10.3 NOTICES– Any notice required or permitted to be given to FirstOntario Credit Union in connection with this agreement must be in writing and must be addressed and delivered to FirstOntario Credit Union at the address or fax number set forth on this agreement. Any notice required or permitted to be given to the Member in connection with this agreement may be given to the Member by delivering a written notice to the Member’s last known address, at such other address, email address, or fax number given by the Member to FirstOntario Credit Union, or, except as to confidential financial information specific to the Member, by posting notice at FirstOntario Credit Union’s premises or on FirstOntario Credit Union’s website, or by any other means FirstOntario Credit Union, acting reasonably, considers appropriate to bring the notice to the attention of the Member.
10.4 ELECTRONIC EXECUTION – This agreement may be executed electronically. Use of the Account shall be deemed to be acceptance of these terms and conditions as of the date of first use, or in the case of a modification of this agreement, acceptance of the modified terms and conditions.
10.5 PROCEEDS OF CRIME LEGISLATION – The Member acknowledges that the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and Regulations apply to the operation of the Account and that FirstOntario Credit Union will from time to time adopt policies and procedures to address the reporting, record-keeping and client identification requirements of that legislation. The Member agrees to abide by and comply with all such laws and procedures.
10.6 OTHER CLAIMS ON THE ACCOUNT – If FirstOntario Credit Union receives notice of a possible claim against, or interest in, any of the Accounts under any court order, statutory demand, or under applicable family, domestic relations, matrimonial property, or similar legislation, a marriage agreement, or a separation agreement, FirstOntario Credit Union may refuse to permit the Member to have any dealings with any of the Accounts, even if funds stand to the credit in any such Account. FirstOntario Credit Union will not be liable for any loss or damage resulting from any refusal by FirstOntario Credit Union under this article.
10.7 APPLICABLE LAW – This agreement is governed by the laws of the province of the Account, or if more than 1 Account, then the jurisdiction of incorporation of FirstOntario Credit Union and the federal laws of Canada applicable therein, excluding any rules of private international law or the conflict of laws which would lead to the application of any other laws.
10.8 ENUREMENT – This agreement will take effect and continue for the benefit of and be binding upon each of FirstOntario Credit Union and the Member and their heirs, executors, successors, and assigns.
10.9 SEVERABILITY – This agreement will be enforced to the fullest extent permitted by applicable law. If for any reason any provision of this agreement is held to be invalid or unenforceable to any extent, then:
a) such provision will be interpreted, construed, or reformed to the extent reasonably required to render the same valid, enforceable, and consistent with the original intent underlying such provision; and
b) such invalidity or unenforceability will not affect any other provision of this agreement.
10.10 NO WAIVER– No waiver by FirstOntario Credit Union of any breach of or default under this agreement shall be deemed to be a waiver of any preceding or subsequent breach or default. FirstOntario Credit Union may, without notice, require strict adherence to the terms and conditions of this agreement, despite any prior indulgence granted to or acquiesced in by FirstOntario Credit Union. 10.11 CHOICE OF LANGUAGE – It is the express wish of the parties that this agreement and any related documents be drawn up and if execution is required, to be executed in English. Les parties conviennent que la présente convention et tous les documents s’y rattachant soient rédigés et signés en anglais.
