Common use of Substitute Checks Clause in Contracts

Substitute Checks. WHAT IS A SUBSTITUTE CHECK? To make check processing faster, federal law permits financial institu- tions to replace original checks with substitute checks. These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states, “This is a legal copy of your check. You can use it the same way you would use the original check.” A substitute check is a legal equivalent of the original check and may be used as proof of payment. WHAT ARE MY RIGHTS REGARDING SUBSTITUTE CHECKS? In certain cases, federal law provides a special procedure to request a refund for losses suffered if a substitute check is incorrectly posted to an account. For example, a refund may be requested if the wrong amount was deducted from an account or if more than one deduction was made for the same check. Losses may include the amount withdrawn and any fees charged as a result of the withdrawal. Refunds are limited to the amount of the loss or the amount of the substitute check. Members may be entitled to dividends on the amount of the refund if the account is a dividend-bearing account. If the loss exceeds the amount of the substitute check, additional amounts may be recovered under other law. If this procedure is used, the member may receive up to $2,500 of the refund (plus dividends if the account earns dividends) within 10 business days after the claim is received and the remainder of the refund (plus dividends if the account earns dividends) no later than 45 calendar days after the claim is received. We may reverse the refund, including any dividends on the refund, if we are able to demonstrate that the substitute check was correctly posted to the account. HOW DO I MAKE A CLAIM FOR A REFUND? If you suspect that you have suffered a loss relating to a substitute check posted to your account, please contact Member One Federal Credit Union by writing to P.O. Box 12288, Roanoke, VA 24024 or by calling ▇▇▇.▇▇▇.▇▇▇▇ or ▇▇▇.▇▇▇.▇▇▇▇. You must contact us within 40 calendar days of the date that we mailed or otherwise delivered by an agreed means the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances. CLAIMS MUST INCLUDE: • A description of the loss (for example, the amount withdrawn was incorrect). • An estimate of the amount lost. • An explanation of why the substitute check is non-sufficient to confirm a loss. • A copy of the substitute check and/or information to help identify the substitute check including the check number, the amount of the check and the name of the person to whom the check was written. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other laws with respect to those transactions.

Substitute Checks. WHAT IS A SUBSTITUTE CHECKWhen you draw a check on an Account you may receive back from us a substitute check instead of the original check. Similarly, when you deposit a check in an Account, if the item is not paid you may receive from us a substitute check instead of the original. What is a substitute check? To make check processing faster, federal law permits financial institu- tions Helm to replace original checks with “substitute checks. .” These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states, : “This is a legal copy of your check. You can use it the same way you would use the original check.” A You may use a substitute check is a legal equivalent of the original check and may be used as proof of paymentpayment just like the original check. WHAT ARE MY RIGHTS REGARDING SUBSTITUTE CHECKSSome or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your Account. However, you have rights under other law with respect to those transactions. What are your rights regarding substitute checks? In A consumer is an individual who either draws a check on, or deposits a check into, or cashes a check against, an Account used primarily for personal, family, or household purposes. If you are a consumer, in certain cases, federal law provides a special procedure that allows you to request a refund for losses suffered you suffer if a substitute check is incorrectly posted to an account. For your Account (for example, a refund may be requested if you think that we withdrew the wrong amount was deducted from an account your Account or if that we withdrew money from your Account more than one deduction was made once for the same check). Losses The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your Account and any fees that were charged as a result of the withdrawalwithdrawal (for example, bounced check fees). Refunds are The amount of your refund under this procedure is limited to the amount of the your loss or the amount of the substitute check, whichever is less. Members may be You also are entitled to dividends interest on the amount of the your refund if the account your Account is a dividendan interest-bearing accountAccount. If the your loss exceeds the amount of the substitute check, you may be able to recover additional amounts may be recovered under other law. If you use this procedure is usedprocedure, the member you may receive up to $2,500 2,500.00 of the your refund (plus dividends interest if the account your Account earns dividendsinterest) within 10 business days ten (10) Banking Days after the we received your claim is received and the remainder of the your refund (plus dividends interest if the account your Account earns dividendsinterest) no later than 45 forty-five (45) calendar days after the claim is receivedwe received your claim. We may reverse the refund, refund (including any dividends interest on the refund, ) if we later are able to demonstrate that the substitute check was correctly posted to the accountyour Account. HOW DO I MAKE A CLAIM FOR A REFUNDHow do you make a claim for a refund? If you suspect believe that you have suffered a loss relating to a substitute check that you received and that was posted to your accountAccount, please contact Member One Federal Credit Union by writing to P.O. Box 12288, Roanoke, VA 24024 or by calling ▇▇▇.▇▇▇.▇▇▇▇ or ▇▇▇.▇▇▇.▇▇▇▇our Operations Department. You must contact us within 40 forty (40) calendar days of the date that we mailed (or otherwise delivered by an agreed a means to which you agreed) the substitute check in question or the account Account statement showing that the substitute check was posted to your accountAccount, whichever is later. We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances. CLAIMS MUST INCLUDEYour claim must include: • A description of the why you have suffered a loss (for example, you think the amount withdrawn was incorrect). ; • An estimate of the amount lost. of your loss; • An explanation of why the substitute check you received is non-sufficient insufficient to confirm that you suffered a loss. ; and • A copy of the substitute check and/or and the following information to help us identify the substitute check including check: the check number, the amount of the check and the name of the person to whom you wrote the check was writtencheck, the amount of the check, your Account number and the date of the check. The rights in this notice Unless we specifically permit you to do not apply to original checks or to electronic debits to your account. Howeverso, at our sole discretion, you have rights under other laws may not deposit in an Account any substitute check that has not been created or previously transferred/presented for payment by a bank (12 U.S.C. § 5002(2)) in the U.S. check collection process. This means that, unless we enter into a specific agreement with respect you to those transactionsdo so, you cannot deposit in an Account, among others, a substitute check that is created by: (a) an individual; (b) a nonbank entity; or (c) a foreign bank outside the U.S. check collection process.

Substitute Checks. WHAT IS A SUBSTITUTE CHECK? To make check processing faster, federal law permits financial institu- tions institutions to replace original checks with substitute checks. These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states, “This is a legal copy of your check. You can use it the same way you would use the original check.” A substitute check is a legal equivalent of the original check and may be used as proof of payment. WHAT ARE MY RIGHTS REGARDING SUBSTITUTE CHECKS? In certain cases, federal law provides a special procedure to request a refund for losses suffered if a substitute check is incorrectly posted to an account. For example, a refund may be requested if the wrong amount was deducted from an account or if more than one deduction was made for the same check. Losses may include the amount withdrawn and any fees charged as a result of the withdrawal. Refunds are limited to the amount of the loss or the amount of the substitute check. Members may be entitled to dividends on the amount of the refund if the account is a dividend-bearing account. If the loss exceeds the amount of the substitute check, additional amounts may be recovered under other law. If this procedure is used, the member may receive up to $2,500 of the refund (plus dividends if the account earns dividends) within 10 business days after the claim is received and the remainder of the refund (plus dividends if the account earns dividends) no later than 45 calendar days after the claim is received. We may reverse the refund, including any dividends on the refund, if we are able to demonstrate that the substitute check was correctly posted to the account. HOW DO I MAKE A CLAIM FOR A REFUND? If you suspect that you have suffered a loss relating to a substitute check posted to your account, please contact Member One Federal Credit Union by writing to P.O. Box 12288, Roanoke, VA 24024 or by calling ▇▇▇.▇▇▇.▇▇▇▇ or ▇▇▇.▇▇▇.▇▇▇▇. You must contact us within 40 calendar days of the date that we mailed or otherwise delivered by an agreed means the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances. CLAIMS MUST INCLUDE: • A description of the loss (for example, the amount withdrawn was incorrect). • An estimate of the amount lost. • An explanation of why the substitute check is non-sufficient to confirm a loss. • A copy of the substitute check and/or information to help identify the substitute check including the check number, the amount of the check and the name of the person to whom the check was written. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other laws with respect to those transactions.

Substitute Checks. WHAT IS A SUBSTITUTE CHECK? To make check processing faster, federal law permits financial institu- tions institutions to replace original checks with substitute checks. These checks are similar to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states, “This is a legal copy of your check. You can use it the same way you would use the original check.” A substitute check is a legal equivalent of the original check and may be used as proof of payment. WHAT ARE MY RIGHTS REGARDING SUBSTITUTE CHECKS? In certain cases, federal law provides a special procedure to request a refund for losses suffered if a substitute check is incorrectly posted to an account. For example, a refund may be requested if the wrong amount was deducted from an account or if more than one deduction was made for the same check. Losses may include the amount withdrawn and any fees charged as a result of the withdrawal. Refunds are limited to the amount of the loss or the amount of the substitute check. Members may be entitled to dividends on the amount of the refund if the account is a dividend-bearing account. If the loss exceeds the amount of the substitute check, additional amounts may be recovered under other law. If this procedure is used, the member may receive up to $2,500 of the refund (plus dividends if the account earns dividends) within 10 business days after the claim is received and the remainder of the refund (plus dividends if the account earns dividends) no later than 45 calendar days after the claim is received. We may reverse the refund, including any dividends on the refund, if we are able to demonstrate that the substitute check was correctly posted to the account. HOW DO I MAKE A CLAIM FOR A REFUND? If you suspect that you have suffered a loss relating to a substitute check posted to your account, please contact Member One Federal Credit Union by writing to P.O. Box 12288, Roanoke, VA 24024 or by calling ▇▇▇.▇▇▇.▇▇▇▇ or ▇▇▇.▇▇▇.▇▇▇▇. You must contact us within 40 calendar days of the date that we mailed or otherwise delivered by an agreed means the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances. CLAIMS MUST INCLUDE: • A description of the loss (for example, the amount withdrawn was incorrect). • An estimate of the amount lost. • An explanation of why the substitute check is non-sufficient to confirm a loss. • A copy of the substitute check and/or information to help identify the substitute check including the check number, the amount of the check and the name of the person to whom the check was written. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other laws with respect to those transactions.

Substitute Checks. WHAT IS A SUBSTITUTE CHECK? To make check processing fasterThe “Check Clearing for the 21st Century Act,” commonly known as Check 21, federal law permits took effect in 2004. It allows financial institu- tions institutions to replace original “truncate” clearing checks with substitute checks. These checks are similar to original checks with a slightly reduced by creating an electronic image of a check rather than using the original paper check. The electronic image is called a “substitute check.” The substitute check includes the front and back of the original check. The front of a substitute check statesand the legend, “This is a legal copy of your check. You can use it the same way you would use the original check.” A substitute check is As a legal equivalent result of Check 21, many checks you write will be processed electronically, with the result that checks you write can clear in a matter of minutes or hours, rather than days. You should not write checks intending to make deposits to cover them later unless you plan to rely on an Overdraft Protection Plan. You agree to notify us immediately upon the discovery of the original loss or theft of your checkbook or of any number of blank checks. We recommend, and reserve the right to require, that you close your account and re-open it under a new number because of the risk of unauthorized use of your account that arises after your checks have been out of your possession. To stop payment on any check before it has cleared your account, you must notify us orally, in writing, or by submitting a stop payment request through Online Banking or Mobile Banking and paying the required fee. We can require you to confirm any oral request in writing within 14 calendar days, or the oral stop payment request may lapse. A stop payment request submitted in writing or through Online Banking or Mobile Banking is valid for six months, after which it will lapse unless you renew it while it is still in effect. Stop payment requests will be used as proof processed promptly, but we will not be responsible for a check we pay within the first 24 hours after your request. You can request a stop payment form at any Mirastar branch or through the Call Center. Your stop-payment request must include your account number and your check number or the amount of your check. If the check number, account number, or dollar amount you give us is incorrect, our automated system may not be able to find the check or stop the payment. WHAT ARE MY RIGHTS REGARDING SUBSTITUTE CHECKS? In We will not be liable for failing to stop payment if the information you provide us does not describe the check accurately enough for us to find and stop it. If we do not carry out a timely, accurate stop-payment instruction, we are not required to reimburse you if the check discharged your valid obligation. If we do reimburse you, you assign to us all claims against the person who cashed the check for the funds, and you agree to cooperate with our efforts to recover the funds. If you do not provide reasonably requested cooperation (such as refusing to assist in our pursuit of civil litigation against the person who cashed the check), we may deem the transaction to have been the result of your apparent consent and not credit your account. You can also stop payments on certain casestypes of EFTs, federal such as ACH payments and online bill payments, if you notify us in time. Refer to the “Electronic Funds Transfer Agreement and Disclosure Statement” section of this Agreement for more information. Keep track of all deposit and withdrawal transactions on your accounts and all advances and payments on your loans. We will send you periodic statements covering all transactions on accounts and loans you maintain with Mirastar. We will have no liability or responsibility for communications that you do not retrieve or that are lost, damaged, or misdelivered by the U.S. Postal Service or other third-party delivery service. If you have an active Checking Account or Electronic Funds Transfer (EFT) activity, you will receive a monthly statement; otherwise, we send statements at least quarterly. You agree that delivery of a periodic statement to the member on an account or loan constitutes delivery of the statement to all owners of the account and all obligors on the loan. Promptly review and reconcile statements and other communications you receive from us and contact us if you have questions or concerns. You can also access your account information through our Online or Mobile Banking services. If you have a Checking Account or a credit line that allows you to write special checks to obtain loan advances, we do not send canceled checks with your periodic statement. When you opt-in to receive eStatements, we will notify you by email when eStatements and other notices, communications, and documents such as IRS tax statements, are available through your Online or Mobile Banking account for you to download. You can see what statements are available within the Online Banking and Mobile Banking platforms. You are responsible for collecting your eStatements, and we will be deemed to have delivered them as soon as we notify you that they are available. Checks - We retain electronic copies of the checks you write for the period required by law provides a special procedure and will provide check copies to you upon request. Fees may apply. Refer to Fee Schedule. Statements - If you do not receive an expected statement, contact us promptly to request a refund for losses suffered if duplicate statement and to ensure that we are sending statements to the correct address. Fees may apply. Refer to Fee Schedule. Some accounts of a substitute check is incorrectly posted to an accountmember may not have identical owners or obligors. For example, a refund member might have a Savings and Checking Account with a Joint owner but an IRA under the member’s name only. We “bundle” periodic statements for many of our services, meaning that a single statement covers multiple accounts and loans maintained for a member. Bundled statements may be requested if addressed to the wrong amount was deducted from member or the member’s Agent at the address in our records. The member and all other owners of accounts maintained with the member and all other obligors on loans maintained by the member consent to the delivery of bundled statements, even though this may result in release of information about an account or if more than one deduction was made for loan to which the same check. Losses may include the amount withdrawn and any fees charged as addressee is not a result of the withdrawal. Refunds are limited to the amount of the loss or the amount of the substitute check. Members may be entitled to dividends on the amount of the refund if the account is a dividend-bearing account. If the loss exceeds the amount of the substitute check, additional amounts may be recovered under other law. If this procedure is used, the member may receive up to $2,500 of the refund (plus dividends if the account earns dividends) within 10 business days after the claim is received and the remainder of the refund (plus dividends if the account earns dividends) no later than 45 calendar days after the claim is received. We may reverse the refund, including any dividends on the refund, if we are able to demonstrate that the substitute check was correctly posted to the account. HOW DO I MAKE A CLAIM FOR A REFUND? If you suspect that you have suffered a loss relating to a substitute check posted to your account, please contact Member One Federal Credit Union by writing to P.O. Box 12288, Roanoke, VA 24024 or by calling ▇▇▇party.▇▇▇.▇▇▇▇ or ▇▇▇.▇▇▇.▇▇▇▇. You must contact us within 40 calendar days of the date that we mailed or otherwise delivered by an agreed means the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances. CLAIMS MUST INCLUDE: • A description of the loss (for example, the amount withdrawn was incorrect). • An estimate of the amount lost. • An explanation of why the substitute check is non-sufficient to confirm a loss. • A copy of the substitute check and/or information to help identify the substitute check including the check number, the amount of the check and the name of the person to whom the check was written. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other laws with respect to those transactions.

Substitute Checks. WHAT IS A SUBSTITUTE CHECK? To make check processing faster, federal law permits financial institu- tions banks to replace original checks with “substitute checks. .” These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states, : “This is a legal copy of your check. You can use it the same way you would use the original check.” A substitute check is a legal equivalent of Some or all the original check and checks that you receive back from the Bank may be used as proof of paymentsubstitute checks. WHAT ARE MY RIGHTS REGARDING SUBSTITUTE CHECKS? In certain cases, federal law provides a special procedure that allows you to request a refund for losses suffered you suffer if a substitute check is incorrectly posted to an account. For your Bank Account (for example, a refund may be requested if you think that the Bank withdrew the wrong amount from your Bank Account or that money was deducted withdrawn from an account or if your Bank Account more than one deduction was made once for the same check). Losses The losses you may attempt to recover under this procedure may include the amount that was withdrawn and any fees charged as a result from your Bank Account. The amount of the withdrawal. Refunds are your refund under this procedure is limited to the amount of the your loss or the amount of the substitute check, whichever is less. Members may be You also are entitled to dividends interest on the amount of the your refund if the account your Bank Account is a dividendan interest-bearing account. If the your loss exceeds the amount of the substitute check, you may be able to recover additional amounts may be recovered under other law. If you use this procedure is usedprocedure, the member you may receive up to $2,500 of the your refund (plus dividends interest if the account your Bank Account earns dividendsinterest) within 10 business days ten (10) Business Days after the we received your claim is received and the remainder of the your refund (plus dividends interest if the account your Bank Account earns dividendsinterest) no not later than 45 calendar days after the claim is receivedBank received your claim. We The Bank may reverse the refund, refund (including any dividends interest on the refund, ) if we are the Bank later is able to demonstrate that the substitute check was correctly posted to the accountyour Bank Account. HOW DO I MAKE A CLAIM FOR A REFUND? If you suspect believe that you have suffered a loss relating to a substitute check that you received and that was posted to your accountBank Account, please contact Member One Federal Credit Union by writing to P.O. Box 12288, Roanoke, VA 24024 or by calling ▇▇▇.▇▇▇.▇▇▇▇ or ▇▇▇.▇▇▇.▇▇▇▇notify the Bank. You must contact us notify the Bank within 40 calendar days of the date that we mailed or otherwise delivered by an agreed means the Bank sent you the substitute check in question or the account Bank Account statement showing that the substitute check was posted to your accountBank Account, whichever is later. We The Bank will extend this time period if you were not able to make a timely claim because of extraordinary circumstances. CLAIMS MUST INCLUDEYour claim must include: • A description of the why you have suffered a loss (for example, you think the amount withdrawn was incorrect). • ; An estimate of the amount lost. • of your loss; An explanation of why the substitute check you received is non-sufficient insufficient to confirm that you suffered a loss. • ; and A copy of the substitute check and/or or identifying information for us to help identify the it. If you truncate an original check and create a substitute check including the check number, the amount or other image of the check and the name of the person to whom the check was written. The rights in this notice do not apply to original checks or to electronic debits to your account. Howevercheck, you have rights under other laws with respect guarantee that it conforms to those transactionsthe requirements and generally accepted specifications for substitute checks, and to retain the original check. You agree to indemnify the Bank for any loss the Bank may incur as a result of any truncated check transaction you initiate.

Substitute Checks. WHAT IS A SUBSTITUTE CHECK? To make check processing faster, federal law permits financial institu- tions institutions to replace original checks with “substitute checks”. These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states, : “This is a legal copy of your check. You can use it the same way you would use the original check.” A You may use a substitute check is a legal equivalent of the original check and may be used as proof of paymentpayment just like the original check. WHAT ARE MY RIGHTS REGARDING SUBSTITUTE CHECKS? Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions. In certain cases, federal law provides a special procedure that allows you to request a refund for losses suffered you suffer if a substitute check is incorrectly posted to an account. For your account (for example, a refund may be requested if you think that we withdrew the wrong amount was deducted from an your account or if that we withdrew money from your account more than one deduction was made once for the same check). Losses The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and any fees that were charged as a result of the withdrawalwithdrawal (for example, NSF fees). Refunds are The amount of your refund under this procedure is limited to the amount of the your loss or the amount of the substitute check, whichever is less. Members may be You also are entitled to dividends interest on the amount of the your refund if the your account is a dividend-bearing an interest­bearing account. If the your loss exceeds the amount of the substitute check, you may be able to recover additional amounts may be recovered under other law. If you use this procedure is used, the member you may receive up to $2,500 the lesser of the amount of the check or $2500.00 of your refund (plus dividends interest if the your account earns dividendsinterest) within 10 business days after the we received your claim is received and the remainder of the your refund (plus dividends interest if the your account earns dividendsinterest) no not later than 45 calendar days after the claim is receivedwe received your claim. We may reverse the refund, refund (including any dividends interest on the refund, ) if we later are able to demonstrate that the substitute check was correctly posted to the your account. HOW DO I MAKE A CLAIM FOR A REFUND? If you suspect believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact Member One Federal Credit Union by writing to P.O. Box 12288, Roanoke, VA 24024 or by calling us at ▇▇ ▇▇▇.▇▇▇.▇▇▇▇ or ▇▇▇.▇▇▇.▇ ▇▇▇▇▇, ▇▇. ▇▇▇▇▇▇▇, MO 63304. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by an agreed a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances. CLAIMS MUST INCLUDEYour claim must include: • A description of the why you have suffered a loss (for example, you think the amount withdrawn was incorrect). ; • An estimate of the amount lost. of your loss; • An explanation of why the substitute check you received is non-sufficient insufficient to confirm that you suffered a loss. ; and • A copy of the substitute check and/or [and/or] the following information to help us identify the substitute check including check: the check number, the amount of the check and ; the name of the person to whom you wrote the check; the amount of the check; and the date the check was written. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other laws with respect to those transactions.

Substitute Checks. WHAT IS A SUBSTITUTE CHECKWhat is a Substitute Check? To make check processing faster, federal law permits financial institu- tions banks to replace original checks with "substitute checks. ." These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states, “: "This is a legal copy of your check. You can use it the same way you would use the original check.” A " You may use a substitute check is a legal equivalent of the original check and may be used as proof of payment. WHAT ARE MY RIGHTS REGARDING SUBSTITUTE CHECKS? In certain cases, federal law provides a special procedure to request a refund for losses suffered if a substitute check is incorrectly posted to an account. For example, a refund payment just like the original check.Some or all of the checks that you receive back from us may be requested if the wrong amount was deducted from an account or if more than one deduction was made for the same checksubstitute checks. Losses may include the amount withdrawn and any fees charged as a result of the withdrawal. Refunds are limited to the amount of the loss or the amount of the substitute check. Members may be entitled to dividends on the amount of the refund if the account is a dividend-bearing account. If the loss exceeds the amount of the substitute check, additional amounts may be recovered under other law. If this procedure is used, the member may receive up to $2,500 of the refund (plus dividends if the account earns dividends) within 10 business days after the claim is received and the remainder of the refund (plus dividends if the account earns dividends) no later than 45 calendar days after the claim is received. We may reverse the refund, including any dividends on the refund, if we are able to demonstrate that the substitute check was correctly posted to the account. HOW DO I MAKE A CLAIM FOR A REFUND? If you suspect that This notice describes rights you have suffered a loss relating to a whenyou receive substitute check posted to your account, please contact Member One Federal Credit Union by writing to P.O. Box 12288, Roanoke, VA 24024 or by calling ▇▇▇.▇▇▇.▇▇▇▇ or ▇▇▇.▇▇▇.▇▇▇▇. You must contact us within 40 calendar days of the date that we mailed or otherwise delivered by an agreed means the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances. CLAIMS MUST INCLUDE: • A description of the loss (for example, the amount withdrawn was incorrect). • An estimate of the amount lost. • An explanation of why the substitute check is non-sufficient to confirm a loss. • A copy of the substitute check and/or information to help identify the substitute check including the check number, the amount of the check and the name of the person to whom the check was writtenchecks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other laws with respect to those transactions. What are My Rights Regarding Substitute Checks? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. Youalso are entitled to interest on the amount of your refund if your account is an interest- bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500.00 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later areable to demonstrate that the substitute check was correctly posted to your account.

Substitute Checks. WHAT IS A SUBSTITUTE CHECKWhen you draw a check on an Account you may receive back from us a substitute check instead of the original check. Similarly, when you deposit a check in an Account, if the item is not paid you may receive from us a substitute check instead of the original. What is a substitute check? To make check processing faster, federal law permits financial institu- tions the Bank to replace original checks with "substitute checks. .” These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states, : “This is a legal copy of your check. You can use it the same way you would use the original check.” A . ”You may use a substitute check is a legal equivalent of the original check and may be used as proof of paymentpayment just like the original check. WHAT ARE MY RIGHTS REGARDING SUBSTITUTE CHECKS? In certain cases, federal law provides a special procedure to request a refund for losses suffered if a substitute check is incorrectly posted to an account. For example, a refund Some or all of the checks that you receive back from us may be requested if the wrong amount was deducted from an account or if more than one deduction was made for the same checksubstitute checks. Losses may include the amount withdrawn and any fees charged as a result of the withdrawal. Refunds are limited to the amount of the loss or the amount of the substitute check. Members may be entitled to dividends on the amount of the refund if the account is a dividend-bearing account. If the loss exceeds the amount of the substitute check, additional amounts may be recovered under other law. If this procedure is used, the member may receive up to $2,500 of the refund (plus dividends if the account earns dividends) within 10 business days after the claim is received and the remainder of the refund (plus dividends if the account earns dividends) no later than 45 calendar days after the claim is received. We may reverse the refund, including any dividends on the refund, if we are able to demonstrate that the substitute check was correctly posted to the account. HOW DO I MAKE A CLAIM FOR A REFUND? If you suspect that This notice describes rights you have suffered a loss relating to a when you receive substitute check posted to your account, please contact Member One Federal Credit Union by writing to P.O. Box 12288, Roanoke, VA 24024 or by calling ▇▇▇.▇▇▇.▇▇▇▇ or ▇▇▇.▇▇▇.▇▇▇▇. You must contact us within 40 calendar days of the date that we mailed or otherwise delivered by an agreed means the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances. CLAIMS MUST INCLUDE: • A description of the loss (for example, the amount withdrawn was incorrect). • An estimate of the amount lost. • An explanation of why the substitute check is non-sufficient to confirm a loss. • A copy of the substitute check and/or information to help identify the substitute check including the check number, the amount of the check and the name of the person to whom the check was writtenchecks from us. The rights in this notice do not apply to original checks or to electronic debits to your accountAccount. However, you have rights under other laws law with respect to those transactions.. What are your rights regarding substitute checks? A consumer is an individual who either draws a check on, or deposits a check into, or cashes a check against, an account used primarily for personal, family, or household purposes. If you are a consumer, in certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your Account (for example, if you think that we withdrew the wrong amount from your Account or that we withdrew money from your Account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your Account and fees that were charged as a result of the withdrawal (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your Account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your Account earns interest) within ten (10) Banking Days after we received your claim and the remainder of your refund (plus interest if your Account earns interest) no later than forty-five