Disclosures

Privacy Policy

Merck Employees Federal Credit Union Privacy Policy
FACTS WHAT DOES MERCK EMPLOYEES FEDERAL CREDIT UNION DO WITH YOUR PERSONAL INFORMATION?
Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
What?

The types of personal information we collect and share depend on the product or service you have with us. This information can include:

  • Social Security Number & Income
  • Account Balances & Payment History
  • Credit History & Credit Score
How? All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Merck Employees Federal Credit Union chooses to share; and whether you can limit this sharing.
Reasons Merck Employees Federal Credit Union Can Share Your Personal Information Does the Credit Union share? Can you limit this sharing?
For everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or to report to credit bureaus Yes No
For our marketing purposes – to offer our products and services to you No No
For joint marketing with other financial companies Yes Yes
For our affiliates’ everyday business purposes –
Information about your transactions and experiences
Yes No
For our affiliates’ everyday business purposes –
information about your creditworthiness
Yes No
For our affiliates to market to you Yes Yes
For non-affiliates to market to you No Yes
To Limit Our Sharing:
  • Call (732) 594-3317 or;
  • Use the online form at the bottom of this page. Submit it. Or;
  • eMail merck.efcu@merck.com. Be sure to provide all the information requested in the online form at the bottom of this page. Or;
  • Write to: Merck EFCU, PO Box 2000, Rahway NJ 07065 – provide all the information requested in the online form at the bottom of this page.

Please Note: If you are a new Member of the Merck Employees Federal Credit Union, the Credit Union can begin sharing your information from 30 days after joining. If you leave the Credit Union, we continue to share your information as described in this Policy. However, you can contact the Credit Union at any time to limit our sharing.

Questions? Call (732) 594-3317
Who We Are
Who Is Providing This Notice? Merck Employees Federal Credit Union
What We Do
How does the Credit Union protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.
How does the Credit Union collect my personal information?

We collect your personal information, for example, when you

  • open an account or apply for a loan
  • provide employment information or give us your contact information
  • show your driver’s license

We also collect your personal information from others, such as credit bureaus, affiliates or other companies.

Why can’t I limit all sharing?

Federal law gives you the right to limit only

  • sharing for affiliates’ everyday business purposes – information about your creditworthiness
  • affiliates from using your information to market to you
  • sharing for non-affiliates to market to you

State laws and individual companies may give you additional rights to limit sharing.

What Happens When I Limit Sharing For An Account I Hold Jointly With Someone Else? Your choices will apply to everyone on your Account(s).
Definitions
Affiliates

Companies related by common ownership or control. They can be financial and non-financial companies.

  • Merck Employees Federal Credit Union has no affiliates.
Non-affiliates

Companies not related by common ownership or control. They can be financial and non-financial companies.

  • Nonaffiliates we share with can include insurance companies, government agencies, plastic card processors credit/debit/ATM), financial statement publishers or printers, mailhouse, consumer reporting agencies, data processors, and check/share draft printers
Joint marketing

A formal agreement between non-affiliated financial companies that together market financial products or services to you.

  • Our joint marketing partners include CUNA Mutual Group’s MEMBERCONNECT
Other important information

Merck Employees Federal Credit Union does not sell Member information to anyone. Be aware that there may be occasions where the Credit Union is legally required to disclose information about current and former Members, such as in response to a subpoena, to prevent fraud, or to comply with a legally permitted inquiry by a governmental agency or federal regulator.

At Merck Employees Federal Credit Union, employee access to Member information is authorized for business purposes only and is based on the sensitivity of the information and our employees’ or agents’ need to know. We educate our employees regularly of their obligation to maintain the condentiality of Member information at all times.

The Credit Union’s goal is to maintain complete and accurate information about you and your Accounts to provide you with the best service and to safeguard you and your Accounts against fraud. If you believe the Credit Union’s records contain inaccurate or outdated information, you should notify the Credit Union immediately in writing. This includes the correct spelling of your name with any name changes, your current address, email address, phone number and cell phone number. Upon receipt of your letter, the Credit Union will correct any inaccuracies or update your records at once.

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Remote Deposit Capture Disclosure

REMOTE DEPOSIT CAPTURE (RDC) AGREEMENT

 

This Remote Deposit Capture (RDC) Agreement is the contract that covers “your” and “our” rights and responsibilities concerning the RDC services offered to you by Merck Employees Federal Credit Union.  The words “we”, “us” and “our” mean the Merck Employees Federal Credit Union. The word “account” means any one or more deposit accounts you have with the Credit Union. The initials RDC mean Remote Deposit Capture services offered by the Credit Union.  By using the RDC services or clicking the electronic signature “acceptance” below you and any joint owners or authorized users, jointly and severally agree to the terms and conditions in this Agreement and any amendments.

 

RDC services are offered for the purpose of converting original checks to substitute checks, as such term is defined in the Check Clearing for the 21 Century Act and Federal Reserve Board Regulation CC (Check 21), for deposit with the Credit Union and for processing and presentment to a collecting or paying financial institution. RDC service(s) is subject to the following terms and conditions and to the instructions, rules and terms contained in the Remote Deposit Capture Agreement, provided to you via a link within the App.

 

1) Remote Deposit Capture (RDC)

a) RDC Process: You will image your checks with a smart phone (other devices may be added later) creating an electronic image. You will transmit this image as an electronic file that we will deposit to your account. The Credit Union’s processing agent shall perform an image quality assessment of the imaged checks and shall convert items meeting our required standards into substitute checks to facilitate the deposit and collection of such items. You agree that the manner in which these items (e.g., substitute check, image exchange, Automated Clearing House) are cleared or presented for payment shall be determined by the Credit Union in its sole discretion. We reserve the right to select the clearing agent(s) through which items are to be cleared.  You agree to be bound by any clearinghouse agreements, operating circulars and image exchange agreements to which the Credit Union is a party.

b) Funds Availability: For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays and federal holidays. If you make a deposit before 3 p.m. Eastern Time on a business day that we are open, we will consider the next day to be the day of your deposit. However, if you make a deposit after 3 p.m. Eastern Time or on a day we are not open, we will consider that the deposit was made on the 2nd business day we are open.  You understand and agree that, for purposes of deposits made using the Services, the place of deposit is Rahway, New Jersey.  You understand that following our receipt and processing of the image, funds from the check will be made available for your withdrawal and/or use on the second business day after we receive your deposit; however, longer delays may apply.  You understand that we may make such funds available sooner based on such factors as creditworthiness, the length and extent of your relationship with us, transaction and experience information, and such other factors as we, in our sole discretion, deem relevant.  You also understand that credit is provisional until settlement is final.  Refer to our Funds Availability Disclosure.

You agree that the image transmitted to us shall be deemed an “item” within the meaning of Article 4 of the Uniform Commercial Code as adopted in the State of New Jersey.

c) Deposit Acceptance: You agree that we may at any time, at our sole discretion, refuse to accept deposits of checks from you via RDC. In the event that the capture services are interrupted or are otherwise unavailable, you may, at your option, deposit checks in person at a Credit Union branch, at an ATM, shared branching office, by mail or other contractually acceptable method.

 

2) Member Obligations

a) Prerequisites: You must have a Savings and Share Draft account and be signed up for the Credit Union’s Home Banking service before using RDC.

b) Member Account: We will provide you with details of the specific transactions that were a result of access to the service. You will be responsible for auditing and balancing of any settlement account.

c) Responsibility for Image: You are solely responsible for the image(s) of the deposit items, accessing the service and for maintaining your equipment. You will be responsible for the payment of all telecommunications expenses associated with the service. The Credit Union shall not be responsible for providing, servicing or troubleshooting any equipment that you may use.

d) Deposit Requirements: You agree that you will only use RDC to deposit checks drawn on financial institutions within the United States, excluding its territories. You will deposit checks not falling within the requirement in person or by U.S. mail. We reserve the right to impose limits on the amount(s) and/or number of deposits that you transmit using RDC and to modify such limits from time to time. There is a $9,999.99 maximum deposit limit using RDC.

e) Check Retention & Destruction: You agree that all checks belong to you and not to the Credit Union and that those checks shall be handled in accordance with this Agreement. After we receive your imaged checks transmitted for deposit to your account, your electronic transmission is subject to proof and verification. It is your responsibility to retain the original of all imaged checks that have been deposited via RDC for a reasonable period of time in order to verify settlement and credit or to balance periodic statements, but in no case beyond ninety (90) days from the date processed, and you shall properly destroy and dispose of such original checks after such time. During the period that you retain the original checks, you understand and agree that a high degree of care must be used to protect these original checks against risks. These risks include, but are not limited to (a) theft or reproduction of the original check for purposes of presentment for deposit of these original checks (i.e., after the original checks have already been presented for deposit via RDC, and (b) unauthorized use of information derived from the original checks.  When you destroy and dispose of the original checks pursuant to the requirements of this Agreement, you understand and agree that you must use a high degree of care when selecting and implementing destruction and disposal procedures.  Among other things, these procedures must be designed to ensure that the original checks are not accessed by unauthorized persons during the destruction and disposal process and, once destroyed, the original checks are no longer readable or capable of being reconstructed (e.g., through the use of competent copying equipment).

f) Unacceptable Items for Deposit: You understand and agree that you will not use the Services to deposit the following items:

 

  1. Any item drawn on your personal account at the Credit Union.
  2. Any third party check, i.e., any item that is made payable to another party and then endorsed to you by such party.
  3. Any item that contains evidence of alteration to the information on the check.
  4. Any check previously converted to a “substitute check,” as defined in Regulation CC.
  5. Any item issued to you by a financial institution in a foreign country.
  6. A “remotely created check”,
  7. Any item that is “stale dated,” expired or “postdated”.
  8. Any item that is “non-negotiable” (whether stamped in print or as a watermark).
  9. Any item that has been re-deposited or returned such as “non-sufficient funds” or “refer to maker” or returned for any other reason.
  10. Any item that is incomplete.
  11. Cash.
  12. Savings Bonds.
  13. Any original check that the substitute check as already been presented.

 

In the event that you or any third party presents or attempts to present, a deposit in violation of this Agreement, you agree to defend, indemnify, and hold the Credit Union and its agents harmless from and against all liability, damage and loss arising out of any claims, suits or demands brought by third parties with respect to any such substitute check or original check.  You agree that the aggregate amount of any items which are deposited more than once will be debited from your account, and to the extent funds in your account are insufficient to cover such amount, any balance shall be debited by us from any other deposit accounts you have with the Credit Union in our sole discretion.  You further acknowledge that you, and not the Credit Union, are responsible for the processing and handling of any original items which are imaged and deposited utilizing this service, and assume all liability to the drawer of any item imaged using the service or liability arising from the Credit Union’s printing of any substitute check from those images.

Deposits of this nature will result in the immediate termination of the Services.

g) Member’s Representations and Warranties: You represent and warrant that:

  1. You will comply with all federal and state laws, rules and regulations applicable to online transactions, including those of the National Automated Clearing House for ACH transactions;
  2. All checks received by us through image transport are made payable to you;
  3. All signatures on each check are authentic and authorized; and
  4. Each check has not been altered.

 

In the event any of these representations or warranties are breached, you agree to defend, indemnify and hold the Credit Union and its agents harmless from and against all liability, damages and loss arising out of any claims, suits or demands brought by third parties with respect to any such breach.  You further authorize us to charge your account for the amount of any such demand, claim or suit, including reasonable attorney’s fees and court costs that constitute a breach of warranty claim under the provisions of the Uniform Commercial Code.

h) Financial Responsibility: You are, and shall remain, solely and exclusively responsible for any and all financial risks associated with accessing RDC. We will not be liable in any manner for such risk unless we fail to follow the procedures described in materials for use of the service. You assume exclusive responsibility for the consequences of any instructions you may give to the Credit Union, for your failure to access the service properly in a manner prescribed by us, and for your failure to supply accurate input information, including, without limitation, any information contained in an application.

i) Account Reconciliation: You will verify and reconcile any out-of-balance condition, and promptly notify us of any errors within the time periods established in this Agreement (exclusive of weekends and applicable holidays) after receipt of the applicable detail report from the Credit Union. If notified within such period, we will correct and resubmit all erroneous files, reports, and other data at our then-standard charges, or at no charge, if the erroneous report or other data directly resulted from our error.

j) Ownership and License. You agree that we retain all ownership and proprietary rights in the Services, associated content, technology and website(s). Your use of the Services is subject to and conditioned upon your complete compliance with this Agreement.  Without limiting the effect of the foregoing, any breach of this Agreement immediately terminates your right to use the Services.  Without limiting the restriction of the foregoing, you may not use the Services (i) in any anti-competitive manner, (ii) for any purpose which would be contrary to the business interest of the Credit Union, or (iii) to actual or potential economic disadvantage in any aspect to the Credit Union.  You may use the Services only for non-business, personal use in accordance with this Agreement.  You may not copy, reproduce, distribute or create derivative works from the content and agree not to reverse engineer or reverse compile any of the technology used to provide the Services.

 

3) Credit Union’s Obligations

a) Financial Data: We agree to transmit all the financial data under our control required to utilize the service selected by you and to act on appropriate instructions received from you in connection with such service. We will exercise due care in seeking both to preserve the confidentiality of the account number, password, test key, or other code or identifier and to prevent the use of the service by unauthorized persons (and in this connection it is understood and agreed that implementation by the Credit Union of its normal procedures for maintaining the confidentiality of information relating to its members, and where practicable the obtaining by the Credit Union from any third parties engaged in the installation, maintenance and operation of the system of similar undertakings, shall constitute fulfillment of its obligation so to exercise due care) but shall not otherwise be under any liability or have any responsibility of any kind for any loss incurred or damage suffered by the member by reason or in consequence of any unauthorized person gaining access to or otherwise making use of the service. You assume full responsibility for the consequences of any misuse or unauthorized use of or access to the service or disclosure of any confidential information or instructions of yours by your employees, agents or other third parties.

b) Service Availability: You understand that service availability is at all times conditioned upon the corresponding operation and availability of those computer services and systems used in communicating your instructions and requests to us and our response. We shall not be liable or have any responsibility of any kind for any loss or damage thereby incurred or suffered by you in the event of any failure or interruption of such services or any part thereof, resulting from the act or omission of any third party, or from any other cause not reasonably within the control of the Credit Union.

c) Exception Items: When we review and process your electronic file, we may reject any electronic image that in our sole discretion is determined to be ineligible for the service including, without limitation, electronic images of items drawn on banks located outside the United States, items drawn on U.S. Banks in foreign currency, electronic images that are illegible, electronic images of items previously processed, electronic images previously converted to substitute checks, and electronic images with unreadable MICR information. You agree that if you wish to attempt to deposit any exception item to any of your accounts with the Credit Union, you shall only do so by depositing the original item(s) on which the exception item is based. You also acknowledge and agree that even if we do not initially identify an electronic image as an exception item, the substitute check created by us may nevertheless be returned to us because among other reasons, the electronic image is deemed illegible by a paying bank for numerous reasons. Our failure to identify an exception item shall not preclude or limit your obligation to the Credit Union.

d) Statements: We will provide you with a transaction history via hard copy mailed statements or eStatements. These detail items processed, returned items and deposit adjustments.

e) Retention of Check Images: The Credit Union will retain any substitute checks it generates for seven (7) years.

f) Service Fees: Currently there is no monthly fee for RDC. You agree to pay all fees and charges for deposit services as set forth in the Rate & Fee Schedule.  All Service Fees are subject to change by the Credit Union upon thirty (30) days written notice to you.

 

4) Warranties: Disclaimer of Warranties

a) Service Warranty: You will perform the function of converting an original check to a substitute check. Therefore, you understand and agree that you are responsible, to the extent permitted by law, for all warranties and indemnifications set forth in Check 21 applying to any Reconverting Credit Union and Truncating Credit Union, as such terms are defined by Check 21, including, without limitation, the obligation to only convert an original check that allows for the creation of a substitute check that clearly and accurately represents the information on the front and back of the original check. The Credit Union and its agents will have no obligation to screen items or substitute checks for legal compliance. You agree to defend, indemnify and hold the Credit Union and its agents harmless from and against all liability, damage and loss arising out of any claims, suits or demands brought by third parties with respect to any such substitute checks.

b) Disclaimer of Liability: YOU ACKNOWLEDGE THAT THE SERVICE IS PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. THE CREDIT UNION IS NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS IN OR TO ANY INFORMATION RESULTING FROM MEMBER’S USE OF THE SERVICE. THE CREDIT UNION MAKES NO AND EXPRESSLY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, REGARDING THE SERVICE INCLUDING THE WARRANTY OF TITLE AND THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, THE CREDIT UNION DISCLAIMS ANY WARRANTIES REGARDING THE OPERATION, PERFORMANCE OR FUNCTIONALITY OF THE SERVICE (INCLUDING, WITHOUT LIMITATION, THAT THE SERVICE WILL OPERATE WITHOUT INTERRUPTION OR BE ERROR FREE). YOU FURTHER ACKNOWLEDGE THAT THERE ARE CERTAIN SECURITY, CORRUPTION, TRANSMISSION ERRORS AND ACCESS AVAILABILITY RISKS ASSOCIATED WITH USING OPEN NETWORKS SUCH AS THE INTERNET AND/OR TELECOMMUNICATION LINES OR CIRCUITS. YOU HEREBY ASSUME ALL RISKS RELATING TO THE FOREGOING.

 

5) Credit Union’s Liabilities

a) Direct Damages: THE CREDIT UNION’S LIABILITY SHALL BE LIMITED TO DIRECT DAMAGES SUSTAINED BY THE MEMBER AND ONLY TO THE EXTENT SUCH DAMAGES ARE A DIRECT RESULT OF OUR GROSS NEGLIGENCE OR WILLFUL MISCONDUCT; PROVIDED THAT THE MAXIMUM AGGREGATE LIABILITY OF THE CREDIT UNION RESULTING FROM ANY SUCH CLAIMS SHALL NOT EXCEED THE TOTAL FEES YOU PAID FOR THE SERVICE RESULTING IN SUCH LIABILITY IN THE SIX-MONTH PERIOD PRECEDING THE DATE THE CLAIM ACCRUED. IN NO EVENT SHALL THE CREDIT UNION BE LIABLE FOR SPECIAL, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL LOSS OR DAMAGE OF ANY KIND INCLUDING LOST PROFITS WHETHER OR NOT WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSS OR DAMAGE. OUR LICENSORS OR SUPPLIERS WILL NOT BE SUBJECT TO ANY LIABILITY TO YOU IN Connection WITH ANY MATTER.

b) Member’s Duty to Report Errors: You agree to notify us of any suspected errors regarding items deposited through RDC right away and in no event later than 60 days after the applicable Credit Union Account Statement is sent. Unless you notify us within 60 days such statement regarding all deposits made through RDC shall be deemed correct and you are prohibited from bringing a claim against us for such alleged error.

c) Credit Union’s Performance: You acknowledge and agree that we will not be liable for any damages or loss of any kind resulting from any unintentional error or omission by us in the performance of these services, in accordance with or unintentional deviation from the terms and conditions of this agreement. You acknowledge that the Credit Union’s systems and procedures established for providing the services are commercially reasonable and shall defend, indemnify and hold us harmless from and against all liability, damage and loss arising out of any claims, suits, or demands brought by third parties with respect to the RDC service.

d) Limitation. We shall have no liability to the member, or any other person or entity for any loss, damage, cost, or expense arising out of this Agreement or the services regardless of the form in which asserted, whether in contract, tort (including negligence), warranty, or any other legal or equitable grounds, and regardless of whether the remedies available fail of their essential purpose, except as provided by applicable law for any error or delay in performing the services provided for in this Agreement, and shall have no liability for not affecting an entry, if:

  1. We receive actual notice or have reason to believe that you have filed or commenced a petition or proceeding for relief under any bankruptcy or similar law;
  2. The ownership of funds involving an entry or the authorized representative’s authority to transmit an entry is in question.
  3. We suspect a breach of the security procedures;
  4. We suspect that your account has been used for illegal or fraudulent purposes; or
  5. We reasonably believe that an entry is prohibited by federal law or regulation, or otherwise so provided in the Agreement.

 

We will not be liable if you fail to report in a timely manner any error or discrepancy reflected in a statement prepared by us, or if you fail to report a breach of a security procedure. If we fail to perform under this Agreement in accordance with the standards set herein, our liability for damages, losses and other compensation owing to you shall be limited to the total fees you paid to us for our failure to perform resulting in such liability in the two (2) month period preceding the date the claim accrued.  We shall not be liable for any loss, damage, liability, or claim arising directly or indirectly from any error, delay, or failure to perform hereunder which is caused by earthquakes, fires, natural disasters, civil or foreign disturbances, power outages, acts of government, labor disputes, failures in either communication or computer networks, legal constraints or any other event beyond our control.  In no event will we be liable for any indirect, consequential, punitive or special damages.  We will also be excused from failing to transmit or delay in transmitting an entry if such transmittal would result in it exceeding any limitation imposed on it by any governmental or regulatory body.

e) Force Majeure: The Credit Union shall not be responsible for liability, loss or damage of any kind resulting for any delay in the performance of or failure to perform its responsibilities hereunder due to causes beyond our reasonable control.

f) Termination: Either party may terminate this Agreement with or without written notice to the other party. Notwithstanding any such notice of termination, this Agreement shall remain effective in respect of any transaction occurring prior to such termination. Upon any termination of this Agreement, (a) you will immediately cease using the service, and (b) you shall promptly remit all unpaid monies due under the Agreement. We may immediately suspend or terminate your access to the service in the event that we reasonably determine such suspension or termination is necessary in order to protect the service or itself from harm or compromise of integrity, security, reputation or operation.

g) Indemnification. You agree to indemnify, defend and hold harmless the Credit Union and its shareholders, directors, officers, employees and agents (the “Indemnified Parties”) from and against any and all losses, costs, expenses, fees (including, but not limited to, reasonable attorney fees and disbursements), claims, damages, liabilities and causes of actions of third parties resulting or arising from: (a) your failure to abide by or perform any obligation imposed upon you under this Agreement, (b) your willful misconduct, fraud, criminal activity intentional tort or negligence or any of your representatives involving use of the service; (c) your actions, omissions or commissions of the actions, omissions or commissions of your employees, consultants and/or agents relating to the service; and (d) any transmission or instruction whether or not authorized, acted upon by the Credit Union in good faith. You will be provided with prompt notice of any claims and given full authority and assistance (at your expense) for the defense of any such claims; provided that we may participate in such defense and settlement with counsel of our own choosing, and at our own expense; provided, further, however, you shall have no authority to settle any claim against any indemnified party without the prior written consent of such indemnified party (which consent shall not be unreasonably withheld).

h) Modification of Services: We reserve the right to modify the service from time to time without making prior notice to you, provided, however, the Credit Union will give you thirty (30) days prior notice before making any modification to the service that would materially alter its functionality.

i) Notices: Except as otherwise expressly provided herein, we will not be required to act upon any notice or instruction received from you or any other person, or to provide any notice or advice to you or any other person with respect to any matter.

j) Enforcement: You agree to be liable to the Credit Union for any liability, loss or expense as provided in this Agreement that we incur as a result of any dispute involving your accounts or services. You authorize the Credit Union to deduct any such liability, loss or expense from your account without prior notice to you.  This agreement shall be governed by and construed under the laws of the State of New Jersey. Should any one or more provisions of this Agreement be determined illegal or unenforceable in any relevant jurisdiction, then such provision may be modified by the proper court, if possible, but only to the extent necessary to make the provision enforceable and such modification shall not affect any other provision of this Agreement.

Rev. 061914