Common use of Credit Union’s Liability for Errors Clause in Contracts

Credit Union’s Liability for Errors. If the Credit Union does not properly complete a transaction according to this Agreement, the Credit Union will be liable for your losses or damages not to exceed the amount of the transaction. The Credit Union will not be liable if: a. There are insufficient funds in your account to complete the transaction through no fault of the Credit Union; b. The funds in your account are unavailable; c. The funds in your account are subject to legal process; d. Your loss is caused by the negligence of another financial institution; e. We did not receive a direct deposit instruction; f. the failure is due to an equipment breakdown that you were aware of before you began a transaction; g. The failure was caused by an Act of God, fire or other catastrophe, or any other cause beyond our control despite reasonable precautions that we have taken;