Account Operation / Legal

The Energy Credit Union Limited (hereinafter referred to as TECU or Credit Union)

Operation of Account Agreement

In Consideration of THE ENERGY UNION LIMITED (herein after called “the Credit Union”) dealing with or continuing to deal with the undersigned (herein after called “the Member” or “Account Holder’ or “Applicant”) in the way of its business as a Financial Institution, the Member agrees with the Credit Union that the operation of the account shall be subject to the terms and conditions set out below:

WAIVER OF PROTEST
1. Subject to any specific instructions given to the Credit Union in writing by the Member,
(a) the Member hereby waives in favour of the Credit Union any presentment, notice of dishonour and protest of all bills of exchange, promissory notes, cheques, orders for payment of money, securities, coupons, notes ( all or any of which are hereinafter called “Instruments” or “Instrument” as the case may be) drawn, made, accepted or endorsed by the Member, now or hereafter delivered to the Credit Union or any branch thereof for any purpose whatsoever and the Member shall be liable to the Credit Union in respect thereof as if presentment notice of dishonour and protest had been duly made or given; and
(b) if the Credit Union should consider it in the best interest of the Member or the Credit Union that any Instrument should be noted or protested because of any endorsement other than that of the Member, or for any other reason, then, at the discretion of any officer of the Credit Union, the Instrument may be noted or protested accordingly, but the Credit Union shall not be liable to the Member for any failure or omission to note or protest any such Instrument

USE OF AGENTS
2. The Credit Union may use the services of any bank, credit union or agent as it may deem advisable in connection with its function as a Depository Business Agent of the Member. Such bank, credit union or agent is deemed to be the agent of the Member and the Credit Union will not, in any circumstances, be responsible or liable to the Member by reason of any act or omission of such bank, Credit Union or agent, however caused, in the performance of such services, or by reason of the loss, theft, destruction or delayed delivery of any Instrument while in transit to or from, or in the possession of, such bank, credit union or agent.

ASSIGNMENT OF CLAIM
3. The Member hereby transfers and assigns to the Credit Union all claims of the Member against the drawees of all and any Instruments discounted or deposited with the Credit Union, and in the event of any such Instruments being refused acceptance, the Member hereby authorizes the Credit Union to take at any time, in the name of the Member, any proceedings for the collection of the amount of such unaccepted Instrument as the Credit Union may see fit.

AUTHORITY TO CHARGE ACCOUNTS
4. (a)The Credit Union may charge the account of the Member with the amount of any Instrument drawn by the Member on any branch or agency of the Credit Union.
(b)The Member shall pay the Credit Union forthwith after demand therefore any indebtedness or liability to the Credit Union in connection with or arising out of the operation of any account of the Member together with interest thereon as agreed.
(c)The Credit Union may charge against the account of the Member the amount of any Instrument cashed or negotiated by the Member for the member or credited to the Member account for which payment is not received by the Credit Union. Any expenses incurred by the Credit Union in connection with a dishonoured or unpaid Instrument may be charged to the Member’s account. The Credit Union will not be held liable for their failure to notify you of a dishonoured or unpaid instrument. It will be the members responsibility to monitor their account for dishonoured or unpaid instruments through the use of Online Banking Alerts and/or by reviewing their Monthly Statements.Statements will be considered correct if no exceptions are reported in writing within 30 days from delivery or mailing to you.
(d)Should any Instrument received by the Credit Union for the account of the Member by way of deposit, discount, collection or otherwise be lost or stolen or otherwise disappear from any cause whatsoever, other than negligence on the part of the Credit Union, the Credit Union may charge the account of the Member with the amount of such Instrument and the Member agrees to pay the same. The Credit Union may make a reasonable service charge against the account of the member for the operation of the account and may debit the account from time to time with the amount of such charge. A list of the Credit Union’s current service Charges is available at every branch of the Credit Union,on our website or on request.

USE OF CHEQUES
5. The Member will draw encoded cheques only on the account for which the cheques are encoded. The Credit Union will not be liable in any circumstances for any loss or damage arising from the refusal by the Credit Union to certify or honour a cheque drawn by the Member on an account other than the account for which the cheque is encoded. The Credit Union may withdraw chequing account privileges and dishonour a cheque from clearing if the account has been deemed abused. An account may be deemed abused if the account holder has committed fraud involving cheques, has setup electronic fund withdrawals without ensuring appropriate funds are on deposit to cover said withdrawals and has not rectified the shortfall upon being made aware, or is in violation of the Operation of Account Agreement or CPA Rules. Cheque Deposits will be made in accordance with CPA Rules.

INFORMATION STORAGE
6. (a) All information relating to the account of the Member may be recorded or stored by the Credit Union in such forms and by means of such devices as the Credit Union may see fit. The Credit Union is under no obligation to retain original documents, Instruments or vouchers other than those belonging to or entrusted to the Credit Union by the Member.
(b)The Credit Union may use the services of any electronic data processing services bureau or organization in the performance of the services required by it.

VERIFICATION OF ACCOUNT
7. (a) Upon the receipt from the Credit Union of a statement of the Member’s account together with cheques and other vouchers (if applicable)for amounts charged to the account appearing therein , the Member will examine the account and check the credit and debit entries with the information provided and, within thirty days of the delivery thereof to the Member or, if the Member has instructed the Credit Union to mail the said statement and cheques and vouchers, Within thirty days of the mailing of the thereof to the Member, will notify the Credit Union of any errors, irregularities or omissions therein or there from; and at the expiration of the said thirty days (except as to any errors, irregularities, or omissions of which the Credit Union has been so notified) it shall be conclusively settled as between the Credit Union and the Member that such statement and the amount of the balance shown thereon is correct and the said cheques and vouchers are genuine and properly chargeable to and charged against the Member’s account and that the Member was not entitled to be credited with any sum not credited in the said statement.The term “statement” shall include online or paper statement where applicable.
(b)Nothing herein contained shall preclude the Member from later objecting to any unauthorized or forged endorsement of the payee provided notice in writing is given to the Credit Union forthwith after the Member has acquired knowledge thereof.

 

MAILING OF STATEMENTS
8. The Member instructs the Credit Union to provide to the Member a record of the account for amounts charged to the said Account for amounts charged to the said account periodically either by personal use of a passbook or by statement distributed by mail or online statements recording the Account information on a monthly, quarterly or previously determined time frame. These instructions will continue in force until contrary instructions in writing are received by the Credit Union from the Member. The Member will advise the Credit Union promptly if the recorded information has not been provided within ten days of the date of which it is normally received. New Accounts will receive their statements through Online Statements. Members must opt in for paper statements to be mailed home and a request must be made in writing.

 

STAMPED OR PRINTED ENDORSEMENTS
9. The member, having adopted a rubber stamped and/or a printed endorsement, authorizes the Credit Union to accept an impression of the said stamp or other similar stamp or the printed endorsement by the member of all Instruments deposited to the credit of the account of the Member at the Credit Union which may from time to time be pledged as collateral security by the Member or discounted by the Credit Union for the account of the Member. The Member shall be bound by all such stamped or printed endorsements as amply and effectually as if such endorsements were written by or with the authority of the Member; and the members shall hold the Credit Union at all times fully indemnified from all claims and demands in respect of all Instruments bearing such stamped or printed endorsements, whether by reason of such stamped or printed endorsements having been made without authority or otherwise.

 

KEEPING MEMBERSHIP IN GOOD STANDING
10. The Member agrees to keep his or her membership in the Credit Union in good standing at all times. The Member acknowledges that during any period of time during which the member is in breach of any term or condition of any Agreement the Member has with the Credit Union, or some other event of default has occurred that remains uncured, the Credit Union, at its sole discretion, may declare that the Member’s membership is not “in good standing”, and if it makes such a declaration, that the Member will not regain “ in good standing” status until such time as the Credit Union is satisfied the Member has secured the default(s).

INTERPRETATION
11. The expression “the account” or “the Member’s account” used in this agreement shall mean the account of the Member upon or against which the Instrument is drawn, cashed or negotiated, but, if there should be insufficient funds in the said account to pay such Instrument or to pay any charges which the Credit Union is authorized to charge under the provisions of this agreement then the said expression shall mean any other account which the member may have at any branch or agency of the Credit Union and the Credit Union is authorized to charge such account with the amount of such Instrument or of surcharges.
12. In construing this Agreement, the word “Member”, and “you”, “your” and “yours” shall be binding on as agreeing with the substitution. If there is more than one member their obligations shall be joint and several. All rights of the Credit Union hereunder shall endure to the benefit of its successors and assigns; and all obligations of the member shall bind their heirs, executors and administrators and their successors and assigns.

CHANGES TO AGREEMENT
13. I agree that the Credit Union can add to or change the terms and conditions of this Agreement from time to time. The Credit Union promises to give me at least 30 days’ notice of any such additional or amended terms and conditions. The 30 days’ notice will run from the date a notice is posted to the website. If I continue to use any of the Electronic Services or the account after the effective date of any additional or amended terms or conditions to this Agreement, then the Credit Union shall be entitled to presume that I have accepted such additional or amended terms or conditions and will be bound by them.

UNAUTHORIZED OVERDRAFT
14. Member agrees not to perform a transaction that will cause the account to exceed its available limit. Any amounts exceeding the available limit will be charged in accordance with the Credit Union’s Service Fees.

SERVICE FEES
15. The Credit Union will establish service fees for use of the Electronic Service and/or for conducting Transactions and may change the service fees from time to time. I hereby give the Credit Union permission to deduct any applicable service fees from any Account.

BANKING PACKAGES
16. The Credit Union offers several account banking packages that reward full-service members for their loyalty with free products and services, commonly referred to as Benefit Types. These account packages are subject to change at anytime, and accounts are subject to review on a monthly basis and benefit types will be changed in accordance with eligibility requirements. Service Fees associated with each benefit type will be applicable at that time, and eligibility requirements can be found on our website or by contacting our office.

TERMINATION
17. The Credit Union may terminate this Agreement and will receive the members express consent to withdraw membership if any of the below sound business reasons are applicable:
(a) The account is used to break the law or commit fraud
(b) The applicant intentionally provided false information when the account was opened
(c) The applicant exposes Credit Union members, account holders or employees to physical harm, harassment or abuse
(d) The applicant will not provide acceptable Identification, in accordance with the Credit Union’s Account Opening Process
(e) The applicant does not accept restrictions placed on a Deposit Account
(f) The applicant represents an unacceptable risk to the Credit Union
(g) The applicant has caused a financial loss to the Credit Union
(h) The Credit Union is a closed bond of association credit union and the applicant does not meet the credit union’s membership requirements. Applicant(s) will be required to deposit funds to clear any outstanding balances and/or fees and close all existing Credit Union products. Member may terminate this agreement/close their account at anytime by completing in writing their intent to withdraw membership. The Credit Union’s Close Account form will be required to be signed by each account holder. Available Funds in the account will be provided to the member less applicable fees. Membership Shares will only be provided to the Primary Account Holder.

FAIR DEALINGS
18. We are committed to providing fair treatment to all of our members using our products and services. It is a core component of our governance and corporate culture. The Credit Union’s Code of Conduct can be found on our website.

ACCOUNT RESTRICTIONS
19. The Credit Union may place account restrictions on any of our products and services or place appropriate limits on a membership based on applicable risk. Members will be notified of any limits or restrictions in place in writing via communication on our website, email or letter.

DEPOSIT INSURANCE
20. The Credit Union will maintain deposit insurance with the Regulatory Provider in the Province of Ontario and limits will be in accordance their guidelines. The Credit Union will be unable to insure deposits above those limits set by the Regulator.

UNAUTHORIZED USE
21. Members must report any unauthorized use of the account within 30 days of the suspected transaction by contacting the Credit Union’s Office. All unauthorized suspected transactions will be investigated by the Credit Union and charges may be pursued if any claims are proven to be false or misrepresented. The Credit Union may require the member to file a police report in the event of a reported fraudulent transaction prior to any funds being reimbursed.
The Credit Union will not be liable for fraudulent or suspect transactions until after an investigation and only after it has been determined there was no misconduct or breach of Operation of Account Agreement or sharing of PAC on the part of the member. Members will be liable for any fraudulent transactions exceeding the Credit Union’s policy limits where member has signed an indemnity agreement. Lost or Stolen ATM Cards should be reported immediately in order to mitigate any potential losses by contacting the Credit Union’s office.

DEPOSIT HOLDS
22. The Credit Union may place a hold on all cheque deposits in order to ensure the funds are cleared prior to releasing the funds.

STOP PAYMENTS
23. Member may request a Stop Payment on a transaction provided the transaction has not already cleared the account and the request is made in writing and all details of the transaction are provided on the Credit Union’s form. Members may not place a stop payment on a transaction if they have insufficient funds to cover it.

RIGHT TO OFFSET
24. The Credit Union will have the right to offset the members credit facility with the Credit Union then outstanding with any deposits available in any of the members account types including registered investments in order to make the Credit Union whole. A right of offset from a registered investment will trigger a tax receipt.

TAX RECEIPTS
25. The Credit Union will issue members with the following official tax receipts when they become available:
(a) RSP T4 (RS Withdrawals)
(b) RIF T4 (RIF Withdrawals)
(c) RSP Official Deposit Receipt (1st 60 days, Remainder of year)
(d) T5 (Interest Earned on Deposits exceeding $50; excludes TFSA)
INTERNET & TELEPHONE BANKING MEMBER SERVICE AGREEMENT
In exchange for THE ENERGY CREDIT UNION LIMITED (herein after called “the Credit Union”) allowing me to complete transactions on the account through its Internet and/or Telephone Access technologies, I agree as follows:

DEFINITIONS
“Account” means any account under any membership held by the member with the Credit Union; “PAC” means the personal access code I have selected for my own use which, when used with the Equipment, permits access to the Electronic Services; “Electronic Services” means all of the services available through the use of the PAC in combination with the telephone and internet Channels operated by the Credit Union including the Credit Union’s Mobile App, eDeposit Services and Electronic Fund Transfers; “Telephone Services” means all of the services available through the use of the PAC in combination with the telephone channel Operated by the Credit Union; “Internet Services” means all of the services available through the use of the PAC in combination with the internet channel operated By the Credit Union; “Equipment” means the equipment, such as a personal computer or telephone, which, when used in combination with the PAC, Permit access to the Electronic Services; “ Signing Authority” means any person authorized to sign on an Account; and “Transaction” means any transaction performed Using any of the Electronic Services.

OTHER AGREEMENTS
I acknowledge having read the Terms of Use found on home page of the Credit Union website under the link “legal” (if I intend to use the Internet Services) and will be continually bound by the Term of Use and the Operation of Account Agreement. The terms and conditions of the Operation of Account Agreement and any other conditions or agreements which now or may in the future exist between me and the Credit Union regarding any Account shall remain in full force and effect and shall apply to each Transaction, except as expressly modified or supplemented by the terms of this Agreement or the Terms of Use that apply generally to my use of the Credit Union’s website. In the event of an irreconcilable conflict, this Agreement supersedes the Terms of Use on the website, but the Operation of Account Agreement and any other paper agreements are paramount.

USE OF ELECTRONIC SERVICES
I acknowledge that I have permission to use the Electronic Services to access any permitted Account and to conduct Transactions as may be permitted with respect to any such Account. However, I am not allowed to use these Services to pay bills from, or transfer funds out of any Account which more than one signature is required to authorize a transaction, unless prior authorization is received in writing from all required signers. I agree to follow the instructions of the Credit Union in effect from time to time with respect to the use of the Electronic Services.
When I use my PAC to conduct any Transaction, I agree that this is the legal equivalent of having given a written, signed instruction to the Credit Union to complete the Transaction, and therefore agree to be bound by each such Transaction. This means that I irrevocably authorize and direct the Credit Union to debit or credit, as the case may be, the amount of any Transaction to the Account or Accounts designate by me at the time of the Transaction, in accordance with the Credit Union’s normal practices and the terms and conditions of my Operation of Account Agreement. The Credit Union’s practices respecting the debiting or crediting of any of the Electronic Services may be revised from time to time with or without notice to me, and the Credit Union reserves the right to require me to physically sign original documents before completing certain Transactions if it believes it is advisable for our mutual protection.
I agree not to conduct or try to conduct any Transaction that would result in a negative balance in any Account or would exceed that unused balance of any authorized overdraft or line of credit, if available. I agree to reimburse the Credit Union for all liability or loss arising out of any such Transaction, in accordance with the terms and conditions of my Operation of Account Agreement.
I agree that if I use the Telephone Services without using the specified toll-free number, I alone will be responsible for all long-distance charges imposed by your telephone service provider.
I agree that all computer equipment, electronic devices and associated software provided by the Credit Union to me to enable electronic access to my Account is the property of the Credit Union, and promise to return it and any and all copies made of the software to the Credit Union upon request. I agree to use this equipment and software under a non- exclusive and non – transferable license and only for the purposes intended.
I consent to the Credit Union’ s taping, storing, or otherwise recording my session using the Electronic Services. This consent may or may not be confirmed prior to or during each session. The Credit union agrees to keep the content of any such records confidential and confirm that the records will only be used to verify Transaction and Service request details and monitor the performance of its employees.
The Credit Union reserves the right to terminate access to Electronic Services at our sole discretion if the account has become inactive or dormant in the preceding 6-month period.

LIMITATIONS ON THE CREDIT UNION’S RESPONSIBILITIES
I accept that the Electronic Services are provided subject to the limitations on the Credit Union’s responsibilities detailed in its website Terms of Use, as well as the following:
General
Electronic Services are made available only on an “as is” and “as available” basis. The Credit Union offers these Electronic Services in order to improve the accessibility of the Credit Union to its members. However, the provisions of these Services are dependent in part on communication lines and other third party equipment and services. Furthermore, no computer system designed to safeguard a member’s Personal Information is perfect, and unintended disclosure of a member’s Personal Information through accident or fraud is on the part of third parties is always possible.
I AGREE THAT I WILL NOT HOLD THE CREDIT UNION LIABLE FOR ANY DELAY, LOSS, DAMAGE (DIRECT, INDIRECT OR CONSEQUENTIAL) OR INCONVENIENCE WHATSOEVER CAUSED BY OR ARISING FROM THE PROVISION OF OR FAILURE TO PROVIDE SERVICES OR THE MALFUNCTION OR FAILURE TO OPERATE ANY OF THE SOFTWARE OR EQUIPMENT FOR ANY REASON WHATSOEVER. FURTHERMORE, I AGREE THAT I WILL NOT HOLD THE CREDIT UNION LIABLE FOR ANY PERSONAL INJURY, OR PROPERTY DAMAGE OR ANY LOSS OF BUSINESS OR PROFIT OR THEIR INDIRECT OR CONSEQUENTIAL DAMAGES WHATSOEVER AS A RESULT OF A SYSTEM FAILURE OR MALFUNCTION, OR AN UNINTENDED DISCLOSURE OF MY PERSONAL INFORMATION DUE TO ACCIDENT OR FRAUD ON THE PART OF A THIRD PARTY.

Bill Payments Made Through the Electronic Services
The Credit Union will use its best efforts to forward any bill payment Transactions to the merchants specified by me for credit the next or second business day following the day they are authorized through the Electronic Services. However, I agree that the Credit Union is not responsible for delayed credit or late payments for reasons beyond the Credit Union’s control. I alone am responsible for entering and authorizing the correct payment amounts, merchant account identification, the Account to be charged, ensuring that each payment is entered and authorized only once, and that there are sufficient funds available in my account or available through a line of credit to complete the transaction. If the Electronic Service tells me that the Transaction failed, I acknowledge that it remains my sole responsibility to make the bill payment through another channel.

CONFIDENTIALITY OF PAC
The PAC is for my use alone and may not be assigned or transferred. I agree to keep the PAC confidential and to not disclose it to any person other than to a Signing Authority on the Account. I agree not to record the PAC in any manner or to any media, whether in writing or otherwise, including without limitation in electronic form, or by voicemail or email. For security reasons, the Credit Union recommends that I change my PAC on a regular basis, not use the numbers that make up my PAC in the Personal Identification Number I use in conjunction with a debit card and perhaps change the PAC every 90-120 days. I realize that if the PAC becomes known to other than a Signing Authority on the Account, confidential information about my Account may be accessed by individuals to whom I have not intended to give access.
I agree to notify the Credit Union immediately, in writing, if my PAC becomes known to anyone other than you or any other Signing Authority on the relevant Account or Accounts.
I agree that I am liable for all unauthorized use of the PAC until such notification is made and acknowledged by the Credit Union. I further agree that, until the Credit Union receives my acknowledgement notification is not deemed to be received by the Credit Union.

TRANSACTION VERIFICATION AND RECORDS
I acknowledge that all Transactions are subject to verification and acceptance by the Credit Union. And if not accepted will be reversed from the Account. Verification may take place on a date later than the date I authorized the Transaction, which may affect the Transaction date.
I agree that the Credit Union’s records of each Transaction, including updates of Account information provided to me electronically and the Credit Union’s accounting records, will be deemed to be correct, and will be conclusive and binding upon me. I understand that if I believe that the Credit Union’s records contain an error or omission, I am required to give written notice of the suspected error or omission to the Credit Union within thirty days of the date the record was created or within such other time limit specified in my Operation of Account Agreement in force from time to time, or any other paper agreement which now exists or may in the future exist (whichever is the most restrictive) with respect to the operation of my relevant Account or Accounts.

IF THE CREDIT UNION DOES MAKE AN ERROR OR OMISSION FOR ANY REASON, WITH RESPECT TO THEIR RECORDING OF ANY TRANSACTION, I AGREE THAT THE LIABILITY OF THE CREDIT UNION WILL BE LIMITED TO THE AMOUNT OF THE ERROR OR OMISSION IN RECORDING, PLUS ANY APPLICABLE SERVICE CHARGES THAT MAY HAVE BEEN CHARGED TO ME IN ERROR. SPECIFICALLY, I AGREE THAT THE CREDIT UNION WILL NOT BE LIABLE FOR ANY OTHER LOSS OF BUSINESS OR PROFIT OR ANY OTHER DAMAGE (DIRECT, INDIRECT OR CONSEQUENTIAL) OR DELAY OR INCONVENIENCE WHATSOEVER CAUSED BY OR ARISING FROM ANY SUCH ERROR OR OMISSION.
TRANSACTION PROCESSING

When I use my PAC to conduct a Transaction through the Electronic Services, I agree that I will not be permitted to revoke or stop any such Transaction once the request has been processed.

TERMINATION
The Credit Union may at any time without notice withdraw permission from me to use any of the Electronic Services or cancel or alter any of the Electronic Services without being liable for any loss resulting from such action. I agree that the determination of Electronic Services for any reason will not relieve me of any obligations under this Agreement with respect to the Electronic Services.

EXECUTION
If I signed up for Internet and/or Telephone Banking services online, I acknowledge that I have signed this agreement electronically. In that case, I acknowledge that my use of Electronic Services shall be deemed to be acceptance of the terms and conditions hereof as of the date of first use. If I have signed, noted below, a paper version of this Agreement, I acknowledge the receipts of a true copy of this Agreement. In either case, I acknowledge further that this Agreement does not require a signature by the Credit Union to be effective and binding on both parties. I also agree to keep a copy of this Agreement for my own records.

GENERAL
If I hold an Account jointly with another or other persons, then I acknowledge that each joint holder of that Account will be jointly and severally liable for all Transactions conducted.

FOREIGN ACCOUNT TAX COMPLIANCE ACT AND COMMON REPORTING STANDARDS
(FATCA and CRS Compliance)
The Foreign Account Tax Compliance Act (FATCA) is an important development in US efforts to improve tax compliance involving foreign financial assets and offshore accounts.
Under FATCA, US taxpayers with specified foreign financial assets that exceed certain thresholds must report these assets to the IRS. This reporting will be made on Form 8938, which taxpayers attach to their federal income tax return, starting this tax filing season.
In addition, FATCA will require foreign financial institutions to report directly to the IRS information about financial accounts held by US taxpayers or held by foreign entities in which US taxpayers hold a substantial ownership interest.
The Account Holder hereby confirms that they will abide by this Act and inform the Credit Union promptly if they are:
• a citizen of another country;
• employed by a company in another country;
• own or operate a Domiciled Account in another country;
• file international tax return.
The Common Reporting Standard (CRS) is a new international standard for the automatic exchange of financial account information between tax administrations to use in fighting tax evasion and to promote voluntary compliance with tax laws. Canada and close to a hundred other jurisdictions are committed to its implementation.
The implementation of the CRS in Canada would result in Canadian financial institutions having to report to the Canada Revenue Agency (CRA) the financial accounts they maintain for non-residents of Canada and certain entities controlled by non-residents of Canada. The CRA would, in turn, give to each foreign jurisdiction.
It is proposed that Canadian financial institutions report the following information on non-resident account holders to the Canada Revenue Agency:
• identifying information for the account holder (name and address)
• taxpayer identification numbers
• date of birth
• account number
• account balance or value at end of the year
• certain amounts paid or credited to the account
The balance or value of an account is determined on the last day of the calendar year or other appropriate reporting period

Web Site – Terms of Use

All content on this site is the property of TECU unless otherwise noted. If you use our Web site, you accept and agree to be bound by and comply with the following terms of use.

General

Your access to and use of all the services and products of TECU Credit Union Limited and its network affiliates described on this site are governed primarily by the terms and conditions of the relevant paper agreements you have physically signed at the Branch or specific electronic agreements you have signed electronically. For deposit, withdrawal, LOC/overdraft protection, chequing services, Automated Banking Machine access, and Internet and Telephone Teller Banking access, we refer you to your Member Account Agreement for a more in-depth explanation of our respective responsibilities. For loans and mortgages, we refer you to the various forms or agreements used to document your borrowing transactions. For VISA® services, we refer you to the VISA Terms of Operation. The terms and conditions of other Agreements and any other conditions or agreements which now or may in the future exist between you and the Credit Union regarding any Accounts shall remain in full force and effect and shall apply to the relevant product or service you obtain from the Credit Union, except as expressly modified or supplemented by these Terms of Use in order to take into consideration the additional factor of your use of the web site to access the product or service. In the event of an irreconcilable conflict, the terms and conditions of these other Agreements shall super-cede the Terms of Use for this web site.

We reserve the right to change the information, material and content found in the pages of this site, including these Terms of Use, at any time without notice, by simply updating this site. You agree to review these Terms periodically, and your continued use of this site will tell us that you have agreed to the changes.

While TECU believes the information contained on the TECU web site to be correct and attempts to keep the information current, TECU does not warrant the accuracy or completeness of any such information and expressly disclaims any liability for errors or omissions in this information; and any links to other web sites are provided for convenience only and no endorsement of any third party products or services is expressed or implied by any information referred to or linked from or to the TECU web site. Your use of this web site is at your own risk. TECU, its suppliers, and the other parties involved in creating and delivering this web site’s contents are not liable for any damages arising from use of this site.. We cannot and do not promise that the site will always be available and meet your needs, that access will never be uninterrupted, that there will never be delays, failures, errors or omissions or loss of transmitted information, that the software we use will be compatible with your system, that no viruses or other contaminating or destructive properties will be transmitted or that no damage will occur to your own computer system. Please consult any branch of The Energy Credit Union Limited for complete and up-to-date information on products and services. Furthermore, it is your sole responsibility to adequately protect and backup your data and/or equipment and to take reasonable and appropriate precautions to scan for computer viruses or other destructive properties on your own system.

We must also warn you that unencrypted e-mail communications over the Internet are not secure nor private. We strongly recommend that you do not send personal or financial information to us using unencrypted e-mail or a web browser with less than 128 Encryption capability. Notwithstanding this, we do not accept liability or responsibility for your personal or financial information becoming public through no fault of our own, by way of accident or fraud on the part of third parties.

If you do communicate with us by means of e-mail, we will assume, unless you advise us otherwise, that you consent to our using the information you have sent to us, including your e-mail address, for the purpose of developing and sending an appropriate response to your communication, and disclosing it to such other advisory parties as we deem appropriate for that purpose.

Members Only

It is important for you to understand that not all of the products and services described in the pages of this web site and the information found therein, is offered to or available to every member of the general public. The information on this site is not to be construed as an offer or solicitation to buy or sell any product, service or information to anyone in any jurisdiction in which an offer or solicitation is not authorized or cannot lawfully be made or to any person or entity to which it is unlawful to make an offer. Only individuals or entities that qualify for membership in TECU under its By-laws and who are in fact admitted to membership, are eligible to purchase the products and services described in the pages of this web site, and make use of the information contained therein.

Non-Specific General Information Only

The information contained in the pages of this web site is of a general nature only, and is not intended to provide specific legal, accounting, financial or tax advice that might be relevant to your own individual circumstances. You should not act or rely on the information without first seeking the advice of professionals who can properly assess whether or not it applies to your own situation. All product features explained throughout this site are correct at time of issuance and subject to change. The information supplied within this site is for our members’ use only and does not constitute an offer or contract. You may contact our Member Service Representatives at 416-238-5606 Monday to Friday, 8:30am to 4:30pm for details including up-to-the minute features and other information.

Third Parties/Linked Web Sites

Linked web sites are not under the control of TECU and TECU is not responsible for their content. You are responsible for viewing and complying with the privacy statements and terms of use posted at the linked web sites. No endorsement or approval of any third parties (other than persons or entities with which TECU has a networking arrangement to provide products and services to its members), or their advice, opinions, information, products or services, is expressed or implied by any information contained on the pages of this web site, including Links to their own web sites. If you use the Links to access other Internet resources or web sites, you do so at your own risk. We do not investigate, verify, or monitor these Links. Any dealings that you have with third parties using any linked web sites including the delivery of and payment for goods and services, and any other terms, conditions, representations or warranties associated with such dealings are solely between you and the third party. TECU will not be responsible for any part of such dealings.