Common use of Credit Union’s Liability Clause in Contracts

Credit Union’s Liability. If we do not complete a transfer to or from your Account on time or in the correct amount according to our agreement with you, we may be liable for your losses or damages, subject to some exceptions. We will not be liable, for instance, if: (i) through no fault of ours, you do not have enough money in your Account to make the transfer; (ii) the transfer would go over the credit limit on your overdraft line; (iii) the automated teller machine where you are making the transfer does not have enough cash and the ATM or system was not working properly; (iv) if circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken; (v) the funds in your Account are subject to an administrative hold, legal process, or other claim; (vi) the failure to properly complete the transaction is caused by erroneous information supplied by you or your agent; or (vii) you have closed the Account from which you have preauthorized electronic fund transfers to occur. There may be other exceptions stated in our agreements with you.

Credit Union’s Liability. If we do not complete a transfer to or from your Account on time or in the correct amount according to our agreement with you, we may be liable for your losses or damages, subject to some exceptions. We will not be liable, for instance, if: (i) through no fault of ours, you do not have enough money in your Account to make the transfer; (ii) the transfer would go over the credit limit on your overdraft line; (iii) the automated teller machine where you are making the transfer does not have enough cash and the ATM or system was not working properly; (iv) if circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken; (v) the funds in your Account are subject to an administrative hold, legal process, or other claim; (vi) the failure to properly complete the transaction is caused by erroneous information supplied by you or your agent; or (vii) you have closed the Account from which you have preauthorized electronic fund transfers to occur. There may be other exceptions stated in our agreements with you.