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Myislandbanking Access Agreement

Myislandbanking.com for Business Agreement & Disclosure


This Myislandbanking.com for Business Access Agreement is made by North Island Credit Union (Credit Union, we, us, our), a California state chartered credit union, and the Member (you, your).

You have requested the Credit Union provide certain Internet-based cash management services to you as described herein, and the Credit Union desires to provide such services to you under the terms and conditions described herein. In consideration of the mutual promises contained herein, the parties agree as follows:


1. General

The services to be provided by the Credit Union to you consist of an Internet Banking program known as Myislandbanking.com for Business and all related materials and documentation (the Program) that permit you to obtain and conduct certain activities with the Credit Union. Such activities include the ability to obtain certain account balance information, to initiate electronic funds transfer services, to initiate bill payment requests, and generally perform other account reporting functions as provided by the Program, now or in the future, by means of a personal computer via the Internet (collectively the Services). Services are provided by the Credit Union for access and use by Member and those persons sometimes referred to as users that Member authorizes to perform Services.

2. Term

This Agreement is effective from the date on Agreement and will remain in force until termination. This Agreement will be terminated upon (i) thirty (30) days prior written notice by either party to the other, (ii) termination of the Account relationship between the parties, (iii) failure of the Member to comply with the terms and conditions of this Agreement or (iv) any other event which causes the Credit Union to be unable to provide the Program to the Member. The provisions of this Agreement protecting the proprietary rights of the Credit Union will continue in force after termination.

3. Account

The Member will maintain with the Credit Union at least one demand deposit (checking) account (the Account(s)) for the purpose of providing available funds and for deposit of received funds in connection with the use of the Program. In addition to the terms of this Agreement, the Account will be subject to a separate Business Account Agreement & Disclosure, receipt of which is acknowledged. Unless the Credit Union otherwise requires the Member to maintain collected funds, you agree to maintain sufficient available funds in the Account(s) to support any transaction initiated under the Program and to cover any fees which you are obligated to pay under this Agreement. If at any time there are not sufficient collected funds in the Account to cover all outstanding transactions and other payment obligations of the Member under this Agreement, you agree to immediately pay the Credit Union, on demand, the amount of any deficiency in such outstanding transactions and obligations. The Credit Union may, without prior notice or demand, obtain payment from you for any of your obligations under this Agreement by debiting any account of the Member at the Credit Union.

4. Authorization

You may authorize persons ("users"), other than those designated as Business Owner/Authorized Signer on the Business Account Application signed by you, to have access to your accounts under the Program. Each such user has general authority from you to give instructions and authorize transactions under the Program. We may rely and act upon any instructions received from any user without further inquiry.

5. Account Reconciliation

All transactions which result in a debit or credit to the Account initiated by the Member under the Program will be reflected on your monthly account statements. You will notify the Credit Union within thirty (30) days after the mailing or other delivery of the account statements by the Credit Union, of any discrepancies between the account statements and the Members records of transactions initiated through the Program. Failure of the Member to notify the Credit Union within said period of any such discrepancies will preclude you from asserting any claims for damages or other liabilities against the Credit Union by reason of such discrepancies.

6. Fees

There are no fees to use the Internet Banking and Bill Payment services. Other fees that may apply in special circumstances (requests for paper copies of payments, insufficient funds, stop payment orders, payments returned as undeliverable etc.) are detailed in Business Rates, Fees & Charges.
 
The Credit Union may change the fees charged to you any time during the term of this Agreement by publishing a new Business Rates, Fees, and Charges Schedule. The Credit Union agrees to provide 30 days written notice to Member if any change to rates, fees, or charges will adversely affect the Member. The Credit Union may deduct all fees due from any account of Member at the Credit Union.

7. Hours of Accessibility

You can access your Credit Union accounts through Myislandbanking.com for Business seven days a week, 24 hours a day. However, at certain times, some or all of myislandbanking.com may not be available due to system maintenance. The Credit Union will attempt to provide advance notice online when such outages are anticipated.
 
All immediate transfers (transfers scheduled today, for completion today) initiated through myislandbanking.com are processed immediately. All advance transfers (transfers scheduled for completion on a future date) will be processed at approximately 4:30 P.M. Pacific Time on the scheduled transfer dates. If the scheduled transfer date falls on a Saturday, Sunday or Credit Union holiday, the transfer will be posted on the next business day (Monday through Friday, excluding Saturday, Sunday and Federal holidays).

8. Stop Payment Orders

YOU CANNOT CANCEL OR AMEND ANY BILL PAYMENT ORDER OR FUNDS TRANSFER REQUEST INITIATED THROUGH MYISLANDBANKING.COM FOR BUSINESS ONCE IT HAS BEEN PROCESSED BY US. If you ask us to cancel or amend a bill payment order, or funds transfer request, we will use reasonable effort to act on your request. We have no liability if any attempted cancellation or amendment is not effected. You shall reimburse us for any expenses, losses, or damages we may incur in effecting or attempting to effect your request for amending or canceling a bill payment order, or funds transfer request. The Security procedure described in Paragraph 9 applies to any requests to cancel or amend a bill payment order, or funds transfer request.
 
Stop payments on checks you have written may be requested through Myislandbanking.com for Business by clicking the "Stop Payment" link and following the instructions that appear on the screen. For more information on stop payments, refer to the Credit Unions Business Account Agreement & Disclosure.

9. Unauthorized Access / Security Procedures

You will be solely responsible for: protecting the Programs administrative functions (reports, managing accounts and managing users), and personal computers or networks used to access the Program, against unauthorized access. You are also responsible for any and all losses and damages arising from any unauthorized access to Myislandbanking.com for Business. You will establish physical security, passwords and other security procedures necessary to ensure the confidentiality of access features. You will make such procedures and security features known only to those authorized representatives who will use the Program. The Credit Union will have no obligation, liability or control, either directly or indirectly, over said procedures or the failure of Member to maintain said procedures. You are solely responsible for designating your authorized representatives (adding or deleting users) and disclosing the identity of said representatives and all changes thereof to the Credit Union. However, the Credit Union will not be responsible for verifying the authenticity of any person claiming to be your representative, or the authenticity of any instruction, direction or information provided to any said person. Any instructions, directions or other information provided by you, or any representative of the Member, under the Program will be deemed to have been authorized by you, and the Credit Union will be indemnified and held harmless by you for acting upon any such direction, instruction or information.

10. Bill Payment Services

You, or those properly authorized by you, may establish the optional Bill Payment service through Myislandbanking.com for Business. When doing so, Member will designate a share draft (checking) account to be used for one-time payments or recurring payments. Recurring payments will subsequently be made from this account unless the designated account is changed. If your designated account is closed, the ability to use the bill payment service will be suspended until a new account is designated. If an account is designated that requires two or more signatures, you and all signers on the account waive all signature requirements for the Programs related Services. All signers on the account agree to any transaction initiated by use of a Sign On ID and Password, and agree to be bound by the transaction.
 
By initiating a transaction through the bill payment service, you authorize us to debit the designated account for the amount of the transaction and to pay the designated payee. You are responsible for all payments submitted using the Bill Payment service, whether made or authorized by Member or your authorized users.
 
You agree, and will make sure your authorized users understand, that when using the bill payment service:

  • You authorize us, and any third party acting on our behalf, to choose the most effective method to process your payments. Whenever possible, payments will be made electronically. However, due to your payee's requirements or technical reasons beyond our control, some payments may be made by check;
  • An on-screen transaction record will be displayed. This page constitutes confirmation of your payment transaction(s) from your designated account;
  • We are not liable for any service charges or late charges you incur should you fail to supply correct payee information and/or not allow sufficient time for payment processing. Any payment you schedule that is returned to our bill payment service provider by the U.S. Postal Service due to an incorrect address will be subject to additional service charges.

11. DISCLAIMER OF WARRANTY

THE CREDIT UNION MAKES NO WARRANTIES WITH RESPECT TO THE PROGRAM NOR DOES THE CREDIT UNION WARRANT THAT THE PROGRAM WILL MEET SPECIFIC REQUIREMENTS OF THE MEMBER. NEITHER THE CREDIT UNION NOR ITS INTERNET BANKING VENDOR (CORILLIAN) MAKES ANY WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, WITH RESPECT TO THE USE OF THE PROGRAM. THE CREDIT UNION AND CORILLIAN, DISCLAIM ANY AND ALL IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

12. LIMITATIONS OF LIABILITY

IN NO EVENT WILL THE CREDIT UNION OR CORILLIAN, BE LIABLE TO THE MEMBER FOR ANY DAMAGES, INCLUDING LOST PROFITS, LOST SAVINGS OR OTHER DIRECT, INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF THE USE OR INABILITY TO USE THE PROGRAM AND DOCUMENTATION, OR FOR ANY CLAIM BY ANOTHER PARTY. THE CREDIT UNION WILL BE DEEMED TO HAVE EXERCISED ORDINARY CARE AND TO HAVE ACTED REASONABLY IF THE CREDIT UNION HAS ACTED IN ACCORDANCE WITH THE TERMS OF THIS AGREEMENT AND WILL BE LIABLE FOR LOSS SUSTAINED BY MEMBER ONLY TO THE EXTENT SUCH LOSS IS CAUSED BY THE CREDIT UNIONS GROSS NEGLIGENCE OR WILLFUL MISCONDUCT. THE CREDIT UNION WILL NOT BE LIABLE FOR ANY CONSEQUENTIAL, SPECIAL OR PUNITIVE DAMAGES, REGARDLESS OF THE CREDIT UNIONS ACT OR OMISSION. THE CREDIT UNION WILL HAVE NO LIABILITY FOR ANY LOSS OR DAMAGE:

  • RELATED TO THE DISHONESTY OF THE MEMBERS EMPLOYEES, OFFICERS OR AGENTS;
  • RESULTING FROM ANY RECEIVING FINANCIAL INSTITUTIONS OR PAYEES FAILURE TO ACCEPT ANY FUNDS TRANSFER REQUESTS;
  • RESULTING FROM ANY DELAY IN THE PERFORMANCE OF THIS AGREEMENT, WHICH IS CAUSED BY AN ACT OF GOD, FIRE OR OTHER CASUALTY, ELECTRICAL OR COMPUTER FAILURE, DELAYS OR FAILURE TO ACT BY ANY CARRIER, MEDIUM OR AGENT OPERATING BETWEEN THE CREDIT UNION AND THE MEMBER OR BETWEEN THE CREDIT UNION AND THIRD PARTIES OR ANY OTHER CONDITION OUTSIDE THE CREDIT UNIONS CONTROL. NO THIRD PARTY WILL HAVE RIGHTS OR CLAIMS AGAINST THE CREDIT UNION UNDER THIS AGREEMENT. THE TERMS OF THIS SECTION WILL SURVIVE TERMINATION OF THIS AGREEMENT.

13. Indemnification

You will defend, indemnify and hold us harmless against and in respect to any and all loss, liability, expense and damage, including consequential, special and punitive damages, directly or indirectly resulting from: (i) the processing of any request received by the Credit Union under the Program; (ii) any breach of the provisions of this Agreement or the Rules; (iii) any request for stop payment; (iv) any dispute between You and any third party in connection with the use of the Program; and (v) any and all related actions, suits, proceedings, claims, demands, judgments, costs and expenses (including attorneys fees). The terms of this Section will survive termination of this Agreement.

14. Records Retention

We will retain a record of all data transmitted in connection with the Myislandbanking.com for Business system in effect for any required retention period under applicable state or federal law.

15. Notices

Unless otherwise stated herein, all notices required by this Agreement will be sent by prepaid U.S. mail, or through Myislandbanking.com for Business email, and will not be deemed to have been given until received by the other party. Until either party advises the other party of a change in how notices will be addressed, all notices will be sent to addresses below:


If to the Credit Union:

North Island Credit Union, P.O. Box 85833, San Diego, CA. 92186-5833

If to Member:

(The Members primary address of record in the Credit Unions host computer system.)

16. Entire Agreement / Severability

This Agreement, together with all exhibits, schedules and attachments, Business Account Agreement & Disclosure and Business Rates, Fees & Charges (as provided to the Member) represent the entire agreement and understanding of the parties. If any portion of this Agreement is found to be unenforceable, all remaining portions will remain in full force and effect. In the event of any inconsistency or conflict between the terms of this Agreement and any present or future statute, regulation or governmental policy to which the Credit Union is subject and which governs or affects the transactions contemplated by this Agreement, then this Agreement will be deemed amended to the extent necessary to comply with such statute, regulation or policy and the Credit Union will incur no liability to the Member as a result of such violation or amendment.

17. Assignment / Sublicense

Member agrees not to assign, transfer or dispose of your rights and obligations under this Agreement and not to further sublicense, assign or transfer the Program, except as expressly provided in this Agreement.

18. Governing Law

This Agreement is governed by the laws of the State of California (except to the extent Federal law applies).

19. Amendment / Modification

This Agreement may not be amended or modified except by a written instrument signed by both the Member and the Credit Union.

20. Signatures

By clicking on the I Agree button below, the Member acknowledges having read and accepted the terms and conditions of this Agreement, and agree to be bound by its terms and conditions. A paper hard copy of this Agreement will be made and signatures of all parties obtained upon completion of the Myislandbanking.com for Business enrollment process.

(Myislandbanking.com for Business Access Agreement-online rev.11/12/10)

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