Important News, 02/26/2024: 88th Annual Meeting: April 11th, 2024, 8:00pm – Virtually via Zoom. Please register in advance to attend this meeting (Click here for more Info)


Disclosure of Terms and Conditions for Virtual Branch® Home Banking Services Including Bill Payment Services.

This Agreement and Disclosure specifically governs Van Cortlandt Cooperative Federal Credit Union’s Virtual Branch® Home Banking Service and Bill Payment Service, and informs you of your rights and responsibilities and the terms and conditions associated with the service you have requested. Please read this Agreement and Disclosure carefully. In this Agreement and Disclosure,  the words “you”, “you”, and “yours” mean each and everyone who utilizes Virtual Branch® Home Banking Service and Bill Payment Service.  The words “we”, “us”, “our”, “VCCFCU”, “Credit Union” mean Van Cortlandt Cooperative Federal Credit Union.  The words “the Service” refer to VCCFCU’s Virtual Branch® home banking services including Bill Pay® bill payment services.

By initiating inquiries and/or fund transfers through VCCFCU’s Virtual Branch® and Bill Pay® Services, or by permitting another to use the Service on your behalf, you acknowledge receipt of this Agreement and Disclosure and agree to be bound by all terms and conditions contained herein, and all applicable terms and conditions in our other agreements relating to your VCCFCU membership with you governing your checking, savings, and loan accounts accessible in connection with the Service.   You further agree to follow all instructions provided by the Service and reflected on your computer screen. The terms and conditions of this Agreement and Disclosure are in addition to the terms and conditions of any and all other deposit accounts and credit agreements you have with the Credit Union, including all such disclosures made pursuant to such agreements.   You further agree to abide by any terms and conditions which may be added because of future enhancements to VCCFCU’s Virtual Branch® Home Banking Service.


  • Payee: The person or entity to which you wish to make a bill payment.
  • Payment Account: The checking account from which bill payments will be debited.
  • Business Day: Every Monday through Friday, excluding Federal Reserve Holidays.
  • Scheduled Payment Date: The Business Day your Payment Account will be debited and the day the Service will begin processing your payment.
  • Due Date: The date reflected on your statement for which the payment is due. This is not the late date or grace period.

ELIGIBILITY : All members are eligible to use the Virtual Branch® Home Banking Service. There is no need to purchase special software.  All you will need to access the Service is a personal computer with an Internet connection and a web browser.  Only browsers recommended on the “About Security” page of VCCFCU’s Virtual Branch® Home Banking Services are acceptable. System requirements include a browser that supports SSL (Secure Sockets Layer) protocol and 128 bit encryption. Microsoft Internet Explorer 5.0 (or higher) and Netscape Navigator 6.0 (or higher) both support this protocol and are certified for use at our site. Other browsers that support SSL, HTML, Java Script and tables may work but we strongly recommend using one of the two browsers mentioned herein. You are solely responsible for the selection, installation, maintenance, and operation of your personal computer and software. VCCFCU expressly disclaims any and all liability as relates to the improper use of your personal computer and the transmission of data. VCCFCU is not responsible for any errors or failures due to any malfunction of your personal computer or software.

BUSINESS/PROCESSING DAYS AND SYSTEM AVAILABILITY : VCCFCU‘s Virtual Branch® Home Banking Services and Bill Pay® bill payment service will be available 24 hours a day, seven days a week, except when down for scheduled or unscheduled maintenance such as system outages (unforeseen events, including, but not limited to: fires, weather conditions, computer failures, interruptions in telephone service or electrical outages) that may cause system unavailability.  While VCCFCU will make reasonable efforts to ensure the availability of the Service via its host Electronic Data Systems Corporation, Inc., we are in no way liable for the unavailability of the Virtual Branch® Home Banking Services and Bill Pay® Bill Payment Service or any consequential damages that may result.

ISSUANCE AND CONFIDENTIALITY OF YOUR PERSONAL SECURITY CODE : You are provided with an initial Security Code for use with VCCFCU’s Virtual Branch® home banking services and are required to choose a new Security Code of your choice once your account is activated.  Your Security Code is confidential and should not be disclosed to others or recorded on documents or records located on or around your PC.  You agree not to disclose or otherwise make your Security Code available to anyone not authorized to sign on your accounts.  If you authorize anyone to use your Security Code, that authority shall continue until you specifically revoke such authority by changing the Security Code or by notifying VCCFCU and selecting a replacement Security Code.  You understand that if you reveal your Security Code to anyone, you have authorized that individual to transfer and withdraw funds from any of your accounts which can be accessed by the Security Code, regardless of whether that person is authorized to transfer or withdraw funds from the account(s) by any means other than by use of the Service.  If you fail to maintain security of your Security Code and VCCFCU suffers a loss, we reserve the right to terminate Service to you under this Agreement and Disclosure, as well as to terminate other Credit Union deposits and loan services. Users of the Service should use such other Security Code protection precautions as may be appropriate under any particular set of circumstances to ensure proper security over system access and access to account and transaction information and funds transfer capabilities. The Service provides the capability for you to change your Security Code.  To help safeguard your security, you should change your Security Code frequently.  If you forget your Security Code or your system access is disabled due to the use of an incorrect Security Code three or more times, you must contact an VCCFCU Member Services Representative to have a temporary or new Security Code issued to you. We reserve the right to require written reapplication for a new/replacement Security Code.

PAYMENT SCHEDULING : Transactions begin processing on your scheduled payment date and will arrive approximately five (5) business days after the payment date. When scheduling payments you are advised to select a scheduled payment date that is no less than five (5) business days before the actual Due Date, not the late date or grace period.  The Scheduled Payment Date indicated by you must always be a Business Day.  Payments or transfers scheduled for non-business dates (such as January 1 or weekends) are processed on the next business day for one-time payments and on the previous business day for automatic payments.

PAYMENT AUTHORIZATION : When the Service receives a payment instruction, you authorize the Service to debit your Payment Account and remit funds on your behalf so that the funds arrive as close as reasonably possible to the Scheduled Payment Date designated by you.  The Service will use its best efforts to make all of your payments properly.   However, VCCFCU shall incur no liability in the following circumstances:

  1. If through no fault of ours your Payment Account does not contain sufficient funds to complete the transaction or the transaction would exceed the credit limit of your overdraft account.
  2. The Service is not working properly and you know or have been advised by the Service about the malfunction before you execute the transaction.
  3. You have not provided us with the correct payment information, correct name, address, phone number, or account information of the Payee.
  4. Circumstances beyond our control (such as but not limited to fire, flood, power failure, computer breakdown, telephone or line disruption, or a natural disaster) prevent or delay the transfer despite reasonable precautions taken by us.

Provided none of the foregoing exceptions are applicable, if the Service causes an incorrect amount of funds to be removed from your Payment Account or causes funds from your Payment Account to be directed to a Payee which does not comply with your payment instruction, we may be responsible for returning the improperly transferred funds to your Payment Account and, if applicable, for any late payment related charges up to a maximum of $50.00.  In the event that you do not adhere to the obligations set forth in this Agreement, or you schedule a payment less then the number of Business Days before the required Due Date, you will bear full responsibility for all penalties and late fees and we will not be liable for any such charges or fees.

SERVICE GUARANTEE : Due to circumstances beyond the control of the Service, delays in handling and posting payments by Payees or financial institutions, some transactions may take longer to be credited to your account. The Service will bear responsibility for any late payment related charges up to $50.00 should a payment post after its Due Date as long as the payment was scheduled in accordance with the guidelines described under the Payment Scheduling section in this Agreement and Disclosure.

PAYMENT METHODS : The Service reserves the right to select the method in which to remit funds on your behalf to your Payee.  These payment methods may include, but may not be limited to, an electronic payment, paper or some other draft means.  For each properly instructed payment to an eligible merchant and/or transfer to another account, you will receive a transaction confirmation number.  Unless you receive a confirmation number, we shall not be liable for any failure to make a payment and/or transfer, including any finance charges or late fees incurred as a result.

LIMITS ON TRANSFERS AND TRANSACTIONS : With the exception of the specific transactions listed below, there are no limits on the number or value of transactions you may initiate through VCCFCU’s Virtual Branch® Home Banking Services, provided collected funds are available in your account. You cannot initiate a transfer from Share Certificate or IRA accounts, or restricted accounts, such as Money Market Share accounts or Holiday or Vacation Club accounts.  VCCFCU reserves the right to limit the frequency and dollar amount of transactions at any time for security reasons.

PROHIBITED PAYMENTS : Payments to Payees outside of the United States or its territories are prohibited through the Service.

EXCEPTION PAYMENTS : Tax payments and court ordered payments may be scheduled through the Service, however such payments are discouraged and must be scheduled at your own risk. In no event shall the Service be liable for any claims or damages resulting from your scheduling of these types of payments.  The Service Guarantee as it applies to any late payment related charges is void when these types of payments are scheduled and/or processed by the Service.  The Service has no obligation to research or resolve any claim resulting from an exception payment.   All research and resolution for any misapplied, mis-posted or misdirected payments will be the sole responsibility of you and not the Service.

PAYMENT CANCELLATION/MODIFICATION : Except for those transfers which are completed immediately, you may cancel or modify a payment and/or transfer up to 2:00 p.m. Eastern Standard Time the same Business Day you schedule for payment and/or transfer.

YOUR LIABILITY FOR UNAUTHORIZED TRANSACTIONSNotify us immediately if you believe that your Security Code has been lost or stolen. Telephoning is the best way to keep your possible losses down.   If you tell us within two (2) Business Days after you learn of the loss or theft, you can lose no more than $50 should someone access your account without permission.   If you do not tell us within two (2) Business Days after you learn of the loss or theft and we can prove that we could have prevented the unauthorized use of your Security Code if you had told us, you could lose as much as $500.   Also, if your statement shows transfers that you did not make, tell us at once.   If you do not tell us within sixty (60) days after the statement was mailed to you, you may not get back any money you lost after the sixty (60) days if we can prove that we could have stopped someone from taking the money if you had told us in time.   If for a good reason (such as a long trip or a hospital stay) prevented you from telling us, we may extend the time periods.

If you believe that your Security Code has been lost or stolen call VCCFCU at (718) 549-5858 or write: Van Cortlandt Cooperative Federal Credit Union, 3960B Hillman Avenue, Bronx, NY 10463-2914.   Our office hours are Monday and Thursday from 8:00 a.m. to 8:00 p.m., Tuesday and Wednesday from 8:00 a.m. to 12:00 p.m., and Friday from 8:00 a.m. to 11:00 a.m., holidays excluded.

ERRORS AND QUESTIONS In case of errors or questions about your transactions, telephone us at once by calling (718) 549-5858 or write: Van Cortlandt Cooperative Federal Credit Union, 3960B Hillman Avenue, Bronx, New York 10463.   If you think your statement is incorrect or you need more information about a transfer listed on the statement, we must hear from you no later than sixty (60) days after we send you the first statement on which the problem or error appeared. You must:

  1. Tell us your name and account number.
  2. Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information.
  3. Tell us the dollar amount of the suspected error.

If you tell us verbally, we may require that you send us your complaint or question in writing within ten (10) business days.   We will tell you the results or our investigation within ten (10) business days after we hear from you and will correct any error promptly.   However, if we need more time, we may take up to forty-five (45) days to complete our investigation.   If we decide to do this, we will provisionally credit your account within ten (10) business days for the amount you think is in error.   If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not credit your account.   If we decide there was no error, we will send you a written explanation within three (3) business days after we finish our investigation.  You may ask for copies of the documents that we used in our investigation.

DISCLOSURE OF ACCOUNT INFORMATION TO THIRD PARTIES We will only disclose information to third parties about your account or the transfers you make:

  • Where it is necessary for completing payments and/or transfers.
  • In order to comply with government agency or court orders.
  • In order to verify the existence and condition of your account to a third party, such as a credit bureau or merchant.
  • If you give us your written permission.

FEES AND CHARGES – There is no fee for using Virtual Branch Home Banking Service and the Bill Pay® Bill Payment Services. There will be a $7.00 fee for each check rejected due to insufficient or uncollected funds.

If you choose to use just the Virtual Branch® Home Banking Service, there is no monthly service fee.

DISPUTES In the event of a dispute regarding the Service, you and the Service agree to resolve the dispute by looking to this Agreement and Disclosure. This Agreement and Disclosure shall supersede any and all other representations made by you or our employees.

TERMINATION OF AGREEMENT AND SERVICE You may cancel this Agreement and terminate your Service upon thirty (30) days notice to VCCFCU. You will be responsible for all payments and/or transfers you have requested prior to termination and for all other charges. Be sure to cancel all outstanding payment and/or transfer orders within the thirty (30) day notification period. We will not be liable for payments and/or transfers not canceled or made, due to your actions related to Service termination. We reserve the right to terminate your use of the Service, in whole or in part, at any time without prior notice.

GOVERNING LAW This Agreement and Disclosure shall be governed by and construed in accordance with the laws of the State of New York.

Rev. Feb 2011