Remote Deposit Capture Agreement Requirements

In this contract of disclosure and agreement on remote deposit capture services (“DRC agreement”), the terms “you” and “you” are the consumers or company that solicits and/or uses one of the remote deposit capture services (the “DRC Services”) described in this Agreement. The words “we,” “we” and “credit union” mean KeyPoint Credit Union. By requiring and using Remote Deposit Capture Services, you agree that agreements for union credit accounts that you access through services (“Account Agreements”) are included in this agreement and are part of this DRC agreement. In the event of a discrepancy between this DRC agreement and your account contracts, this DRC agreement will have control. Check the requirements. Each image of a cheque you send must accurately and read all the information on the back and front of the cheque at the time presented to you by the drawer. Before registering the initial exam, you must confirm the back of the original cheque in accordance with the confirmation specifications specified in your account contracts. The image of the cheque sent to us must, among other things, provide accurate and reading information: (1) information to identify the drawer and bank of pre-printed numbers on the cheque, including complete and accurate information from the MICR and the signatures; and (2) other information placed on the control before the date of recording an image of the control, such as, for example. B, any identification required on the front of the cheque and any mentions that may be affixed to the back of the test. The quality of the image for the control will be consistent with the image quality standards established by the American National Standards Institute (ANSI), the Board of Governors of the Federal Reserve and any other regulatory authority, clearing house or association. You understand that you are solely responsible for the quality of the registration image filed with the DRC services for deposit. Although remote depositing is not a new activity, DRC should be seen as a new delivery system and not just a new service.

Prior to the implementation of the DRC, management should identify and assess the legal, compliance, reputational and operational risks associated with the new system. They should ensure that the DRC is consistent with the institution`s business strategies and understand the return on investment and management`s ability to cope with the risks associated with the development of the institution. D. Management should integrate assessments of DRC systems, including products and services, into existing risk assessment processes. Changes in financial situation. You agree to notify us immediately if your financial situation changes significantly or if the information provided in an application, including financial support information, is provided. If you use DRC services to deposit items into an account on behalf of a company in which you participate, this includes, under its guidance, the only (a) changes in the volume of transactions in your business, under: (a) changes in the volume of transactions in your business; (b) any change to a presentation or statement made or provided by you or on your behalf in an application; (c) a significant change occurs in your property or organizational structure (knowing that any change in ownership is considered essential if the property is closely managed); (d) you liquidate or dissolve a consolidation merger, partnership or joint venture, or enter into a consolidation merger, partnership or joint venture; (e) you sell all assets except for the smooth running of your business, as it is in progress, or sell, lease, divest or transfer a substantial portion of your business or fixed assets or any other assets necessary to continue your business, including, but not exclusively, the sale of real estate or other assets related to the return of your business; (f) you stop your activities, you are insolvent, a liquidator is designated for all or part of your estate, that you are an abrasive