Online Loan Payment Disclosure

Online Loan Payment Disclosure

(812) 234-1021 * Toll Free (800) 628-1021 * isucreditunion.com

I hereby authorize Indiana State University Federal Credit Union (ISU FCU) to electronically debit my checking account designated above (and, if necessary, to electronically credit my account to correct erroneous debits) at the institution listed above (“Other Financial Institution or Other FI”), in order to make a payment on my ISUFCU loan as specified above. I understand that the following terms apply to this authorization: • My account at the Other Financial Institution will be debited (charged), and funds will be credited to my ISU FCU loan. • I acknowledge that it is my responsibility to insure that sufficient funds are on deposit in my account at the other financial institution on my loan payment scheduled date to make the payment as scheduled. In the event that funds are not available in my account at the other financial institution and the entry is returned, ISU FCU will impose a return fee, and it is my responsibility to re-initiate the transaction or make a payment by other means. • If the due date for my transfer falls on a weekend or a holiday, my transaction will begin processing the next business day. • I understand that payments scheduled for the same day or next day may still take 2-3 business days to process, and anything submitted after 3:00 pm will begin processing the next day. • ISU FCU is relying on the information I entered above. If the information is incorrect, the debit may be returned, which could result in my payment being late and a fee imposed. • I understand that this ACH transaction must comply with all applicable law. This authorization will remain in effect unless/or until I notify ISU FCU that I have revoked it. Notice must be given by completing the “change or cancel transaction” in the Online Payment section of the online banking service at least three (3) days before the effective date of the payment. I can also stop payment by notifying the financial institution that holds the account from which payment will be debited. • If any payment is rejected or is reversed for any reason, that payment will be reversed on my loan and I will be responsible for making payment to the credit union separately.