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Electronic Delivery Disclosure and Consent

A. INTRODUCTION

The Electronic Delivery Disclosure and Consent Agreement (“Agreement”) sets out the terms and conditions on which Redwood Credit Union (“RCU”) will provide, and you may use, electronic disclosures. Please read this Agreement carefully and keep a copy for your records, as this forms a legally binding agreement between you and Redwood Credit Union.

B. DEFINITIONS

For the purpose of this Agreement, the following defined terms shall apply:

  • “Digital Banking” collectively refers to RCU’s “Online Banking Service,” which can be access through RCU’s public website and “Mobile Banking,” which can be downloaded through the applicable application store and accessed on a mobile device.
  • “e-documents” refers to disclosures provided electronically.
  • “Paperless Statements” or “eStatements” refers to electronic account and loan statements, disclosures, and notifications.
  • “RCU”, “Credit Union”, “we”, and “us” refer to Redwood Credit Union.
  • “You” and “your” refer to you as the RCU Member and user of Digital Banking.

C. ELECTRONIC DISCLOSURES:

You understand and agree to receive electronic disclosures associated with products and services you select through RCU. This includes, but is not limited to the following:

  • If you are applying for or obtaining a loan online: All legal and regulatory disclosures and communications associated with the loan product or service you apply for and/or obtain using RCU’s Online Loan & Membership Center, including but not limited to any required notices or disclosures about a change in the terms related to your loan.
  • If you are applying for RCU Membership online: All legal and regulatory disclosures and communications associated with applying for and establishing a new RCU Membership using RCU’s Online Loan & Membership Center, including but not limited the Membership Account Disclosure, RCU’s Privacy Policy, RCU’s Cost Recovery Schedule, and the Truth In Savings Account Disclosure.
  • Disclosures for products and services you initiate through Digital Banking, such as Bill Payment.
  • Privacy Policies.
  • Account and loan notices.
  • Paperless Statements or eStatements, including Periodic Account and Loan Statements and disclosures delivered with account statements including account and loan change of term disclosures.

Any other disclosures or notifications RCU makes available electronically.

These disclosures will be provided to you on an ongoing basis (subject to the terms and conditions of the applicable disclosure for the product and/or service) and will not be provided to you in paper format. You also understand updated disclosures will be made available to you electronically.

If you do not wish to receive disclosures electronically, you may decline this Agreement and you will receive paper notices and disclosures, however you will not be eligible to use Digital Banking, use RCU’s Online Loan & Membership Center to apply for Membership, receive eStatements, or to obtain RCU loan products or services online and certain fees may apply pursuant to the Cost Recovery Schedule, which is incorporated herein by reference.

D. TERMS AND CONDITIONS APPLICABLE TO ELECTRONIC DELIVERY (DISCLOSURES AND INITIAL AND ONGOING ELECTRONIC STATEMENTS):

  • Disclosures: You understand and agree that applications, product or service agreements, transactions and/or account information changes performed on your Account by electronic means where your Password is utilized and/or where the security procedure described below is utilized shall be considered authorized by you.
  • eStatements: You will receive electronic statements for your RCU accounts, loans, and other products and services, provided the statement is available in an electronic format. This includes products and services you have now, or you establish in the future. If an unavailable statement later becomes available electronically, you will receive that statement electronically. Products and services covered by eStatements will be listed in the Documents & Statements section of Digital Banking.
    • You will be notified by email when your Statement is available online. It is your responsibility to update your email address through RCU Digital Banking as may be necessary and to keep your contact information current. You understand if your email notification is returned undeliverable, RCU will continue to provide you with electronic statements, notices, and disclosures via Digital Banking, however, you will no longer receive an email notification when your statements, notices, or disclosures are ready for viewing unless you provide RCU with an updated email address;
    • Your electronic statements will be available to you in RCU Digital Banking for thirty-six (36) months prior to being purged;
    • You agree it is your sole and independent responsibility to examine each statement and report any irregularities or disputes to RCU within sixty (60) days of email notification of statement availability. You understand you may order duplicate statement copies for a fee by calling RCU at 1 (800) 479-7928 or by writing to RCU at Redwood Credit Union, PO Box 6104, Santa Rosa, CA 95406.
    • You acknowledge that anyone with online access to your account or Digital Banking may access your statements; AND
    • Your electronic statements will contain the same information as any paper versions RCU may provide, including but not limited to account balances, transaction activity, electronic funds transfer information, year-to-date interest and error notification procedures.
  • Applying for Membership or loans online: You understand that you will be notified by email when your disclosures and agreements are available online for your consent. The disclosures and agreements relating to your loan and/or opening an account will be available to you in RCU’s Online Loan & Membership Center for a minimum of six (6) months. You agree that it is your responsibility to examine each disclosure and agreement prior to your consent. You acknowledge that anyone with access to your account online may access your disclosures and agreements.
  • It is your sole and independent responsibility to update your email address in RCU’s Online Loan & Membership Center and Online Banking as necessary. You understand if your email notification is returned undeliverable, you will not receive notification when your disclosures and agreements are ready for your consent.
  • RCU will not send you a paper copy of any communication unless you request it, or RCU otherwise deem it appropriate to do so. You can obtain a paper copy of an electronic communication by printing it yourself or by contacting RCU by phone at 1 (800) 479-7928. You understand that if you request paper copies, they will be provided to you at a cost that is disclosed on the current Cost Recovery Schedule. You understand that RCU reserves the right to deliver any and all important notices allowed by law electronically.
  • You acknowledge your computer system meets the minimum system requirements set forth below. In addition, you have and will maintain the proper equipment/software to print any disclosures or account statements that are emailed to you and/or made available in RCU Digital Banking. Alternatively, you have and will maintain the ability to electronically save and visually display on your computer screen or mobile device any disclosures and/or account statements that are emailed to you and/or made available on RCU Digital Banking.
  • All Communications in either electronic or paper format from RCU to you will be considered “in writing.” You should print or download for your records a copy of your RCU Online Statements, this Agreement, and any other communication that is important to you.
  • You understand you may discontinue your ongoing consent to receive electronic delivery of disclosures and reinstate paper disclosures delivery at any time in Digital Banking or by calling RCU at 1 (800) 479-7928 or by writing to: Redwood Credit Union at PO Box 6104, Santa Rosa, CA. 95406. Such withdrawal shall become effective no later than thirty (30) days after receipt of the request by RCU. You understand that if you withdraw your consent to receive electronic disclosures you will no longer have access to Digital Banking and your account will be subject to the fees disclosed on the Cost Recovery Schedule.
  • RCU also has the right to terminate this Agreement immediately, with or without cause, if you fail to comply with the terms of this Agreement or any other agreement which you may have with RCU or any applicable rule or regulation which may govern your account(s), including but not limited to, the Membership Account Disclosure and any other associated Account Disclosure. If we terminate this Agreement for any of these reasons, such termination shall be effective on the effective date specified in any written notice mailed to you, and not on the date when the notice is mailed or received. Upon termination of e-documents delivery, all communications associated with your account will revert to paper delivery via US postal service and fees may apply as disclosed on the Cost Recovery Schedule.
  • You understand that RCU reserves the right to change or amend the terms and conditions of this Agreement by electronically delivering notice of changes or amendments to you as may be required by law. You must accept the new terms if you wish to continue to receive all the benefits of this Agreement.

E. MINIMUM SYSTEM REQUIREMENTS:

In order to receive and review disclosures, notices, and account statements electronically from RCU, the following computer system requirements must be satisfied:

  • You must have a computer with Internet access and pdf reading software, and
  • You must have an RCU Digital Banking username and password.

F. SECURITY PROCEDURES:

For ongoing electronic delivery of disclosures and account statements, RCU will utilize the following security measures. You agree that the following security procedures, when utilized by RCU, shall constitute your electronic signature and sufficient authorization for the related transactions:

  • Logging onto RCU’s Online Loan & Membership Center,
  • Logging onto your account through RCU Digital Banking using your username and password or using your mobile device passcode or biometric verification (for mobile access only).

You acknowledge if you disclose your password or mobile device passcode to anyone else or if your password/passcode is lost or stolen, third parties may be able to access your eStatements. You agree to keep your password/passcode in a place of safekeeping, and you agree that the security of your password/passcode will be your responsibility at all times. You agree to the security methods and techniques set out in this Agreement.

RCU will use commercially reasonable measures, consistent with industry standards, to maintain a reasonable level of security over the information contained in the electronically delivered communications.

Your security consists of 128-bit encryption of the data on the communications to protect it while in transit over the Internet. You understand that these industry standards are dynamic and constantly developing. By accepting this Agreement, you acknowledge and understand that there are risks to electronic delivery of account communications, including, but not limited to, delay or failure of delivery due to technical difficulties, weather conditions (including but not limited to sun spots), matters beyond your reasonable control or interception, and/or alteration of such account statement(s) and notices by third parties in spite of RCU’s commercially reasonable security measures.

By accepting this Agreement, you represent that you have considered RCU’s security measures and find that RCU’s security measures are commercially reasonable and acceptable to you. In reaching this conclusion, you have considered the historical and potential future content of your account communications, the risks associated with electronic delivery of account communications, and RCU’s security procedures. If you conclude that RCU’s security procedures cease to be commercially reasonable in the future, you must terminate this Agreement immediately in accordance with the steps below.

G. RCU’S LIABILITY:

RCU will not be responsible for any loss, damage or injury whether caused by the equipment, software, and/or RCU Digital Banking service, nor shall RCU be responsible for any direct, indirect, special, or consequential damages arising in any way out of the installation, use, or maintenance of your equipment, software and/or RCU Digital Banking, except where the law requires a different standard. RCU does not make any warranties concerning the equipment, the software or any part thereof, including without limitations, any warranties for a particular purpose or warranties of merchantability. RCU also accepts no responsibility for your email address or for anyone accessing your emails. Notwithstanding any provision to the contrary contained in this Agreement, you shall be responsible only for performing the electronic document services as expressly provided for in this Agreement. You shall be liable only for material losses that are the direct result of your own negligence or intentional misconduct in performing these electronic document services. RCU does not make any warranties concerning the equipment, the software, or any part thereof, including without limitations, any warranties for a particular purpose or warranties of merchantability. RCU shall have no liability for failure to perform any electronic document services or for any disruption or delay in performing electronic document services in the event such failure, disruption, or delay is due to circumstances beyond RCU’s reasonable control, including, but not limited to, failure or disruption of electric power, computer equipment, telecommunications systems, RCU’s ISP, or weather conditions. Except to the extent that you are liable under this Agreement, you agree to indemnify and hold RCU and RCU’s directors, officers, employees, and agents harmless from all claims, demands, judgments, and expenses (including reasonable attorneys' fees) arising out of or in any way connected with the performance of the services covered under this Agreement. You agree that this indemnification shall survive the termination of this Agreement.

H. GOVERNING LAW, VENUE AND DISPUTE RESOLUTION

  1. This agreement will be governed by and interpreted in accordance with federal law and regulation, and to the extent that there is no applicable federal law or regulation, by the laws of the State of California, without giving effect to its conflict of laws provisions of your actual state or country of residence. To the extent permitted by applicable law, and subject to the ARBITRATION AND WAIVER OF CLASS ACTION JURY TRIAL section in this Disclosure, you agree that any legal action regarding this agreement shall be brought in the county in which RCU’s headquarters are located.
  2. The parties agree that they will attempt to resolve any disputes concerning the interpretation of this Disclosure, and unforeseen questions and difficulties which may arise in implementing the Disclosure, by good faith negotiations before resorting to litigation or arbitration. Subject to the ARBITRATION AND WAIVER OF CLASS ACTION AND JURY TRIAL section in this Disclosure, if any action is commenced to either enforce or recover damages for a breach of this Disclosure, the prevailing party shall be entitled to recover any costs or expenses incurred in the prosecution or defense of such action, including without limitation, court costs, expert witness fees, and attorneys’ fees.

I. ARBITRATION AGREEMENT AND WAIVER OF CLASS AND COLLECTION ACTIONS

1. General Terms

a. Please read this Arbitration Agreement and Waiver of Class and Collective Actions (“Arbitration Agreement”) carefully. If you do not opt out in a timely manner as permitted below, it affects your rights and may have a substantial impact on how legal claims and disputes between you and the Credit Union are resolved.

2. Agreement to Arbitrate Claims

a. This Arbitration Agreement is effective upon the 61st day after the first time we provide it to you (“Effective Date”) unless you opt-out in accordance with the requirements of the YOUR RIGHT TO OPT OUT OF THIS ARBITRATION AGREEMENT provision below. We reserve the right to make changes to this Arbitration Agreement. We will provide you with notice of any change as required by law. However, if we believe we are making changes that are to your benefit or are simply providing you with additional information about arbitration and/or this Arbitration Agreement, you agree that any such changes will not provide you with any new right to opt-out, unless otherwise provided under applicable law.

b. You and the Credit Union agree that binding arbitration may be elected by either you or the Credit Union with respect to any past, present, or future dispute, claim, or controversy above the small claims jurisdictional limit arising out of or relating to the Electronic Delivery and Consent Agreement Agreement and/or any Credit Union account, product, or service governed by the Electronic Delivery and Consent Agreement, even if the claim, dispute, or controversy arises out of, affects, or relates to conduct that occurred prior to the Effective Date of this Arbitration Agreement, and even if the other party has already initiated a lawsuit.

c. How is arbitration elected? Arbitration is elected by one party making a written demand for arbitration to the other party, by filing a motion to compel arbitration in court, or by initiating arbitration against the other party. You and the Credit Union agree, upon such written demand, motion, or initiation, to submit to, and that such claim shall be settled by, binding arbitration.

d. What if the claim amount falls within small claims court jurisdiction? Neither party will demand the arbitration of an action properly filed in small claims court, or its state’s equivalent court, or for any claim or dispute within the scope of the small claims court’s jurisdiction. But if a claim is transferred, removed, or appealed to a different court, such claim shall be subject to binding arbitration.

e. What rules will govern the arbitration action? The arbitration will be subject to the rules of the American Arbitration Association (“AAA”) for consumer disputes in effect at the time the arbitration is initiated, or such similar rules as may be adopted by AAA (“Rules”). If there is any conflict between the Rules of the AAA and this Arbitration Agreement, then this Arbitration Agreement will control to the extent of the inconsistency. If the AAA is unavailable to resolve a claim or dispute, and if you and the Credit Union do not agree on a substitute forum, then the Credit Union can select the arbitration forum for the resolution of the claim or dispute. For more details and to obtain a copy of AAA’s Rules and arbitrator rosters, check the American Arbitration Association’s website, www.adr.org, or call the American Arbitration Association’s Customer Service telephone number at 1 (800) 778-7879. The arbitration shall be conducted before a single arbitrator appointed by the AAA. The arbitrator shall be an attorney, retired judge, or AAA panel member, with experience and knowledge regarding financial institutions and transactions.

f. What are the basic distinctions between arbitration and court proceedings? There is no judge or jury in an arbitration proceeding, and the appellate rights of both parties are more limited than in court. All statutes of limitations or other defenses relating to the timeliness of the assertion of a dispute or claim that otherwise would be applicable to an action brought in a court of law must be followed by the arbitrator, and the commencement of an arbitration under this Arbitration Agreement shall be deemed the commencement of an action for such purposes. Discovery shall be available for non-privileged information to the fullest extent permitted under the Rules. The arbitrator’s decision shall be final and binding and may be entered in any state or federal court having jurisdiction. Except as provided under applicable law, the arbitrator’s award is not subject to review by a court, and it cannot be appealed. Any claims and defenses that can be asserted in court can be asserted in arbitration. The arbitrator may award any remedy provided by the substantive law that would apply if the action were pending in court, including public injunctive relief under the California Consumer Legal Remedies Act and Unfair Competition Law.

h. How are arbitration fees and costs allocated? The filing, administration, and arbitrator fees imposed on you and/or the parties by the AAA pursuant to this Arbitration Agreement shall be paid by the Credit Union. Each party shall be responsible for and pay their respective costs, including attorneys’ fees, incurred by them in preparing and presenting their cases during the arbitration proceedings, regardless of who prevails.

i. Where will the arbitration be held? Arbitration hearings will be held in a location reasonably convenient to your residence, or at another location if mutually agreed, but if personal attendance is burdensome or not feasible for you, the Credit Union will not object to you choosing to have your claims handled via telephone or other medium allowing for remote access to hearings and proceedings if otherwise allowable by the AAA and/or under the Rules.

j. What rights and or claims are not affected by this Arbitration Agreement? This Arbitration Agreement does not preclude you from bringing claims regarding the Membership Account Agreement and/or your accounts, products, or services governed thereunder to the attention of any federal, state, or local government agency or entity. Such agency or entity may be able to seek relief on your behalf. Nothing in this Arbitration Agreement shall limit your or the Credit Union’s right, whether before, during, or after the pendency of any arbitration proceeding, to exercise any self-help remedies, such as set-off or repossession and sale of collateral, or to apply to a court of competent jurisdiction to obtain provisional remedies (including, but not limited to, applying for injunctive relief, a temporary restraining order, a temporary protective order, an attachment order, or any other pre-judgment remedies) or interpleader relief. The exercise of such rights will not constitute a waiver of the right to submit to arbitration any dispute regarding the Membership Account Agreement. This Arbitration Agreement will not apply to any disputes involving a consumer loan secured by real estate, or a consumer loan we provide you to the extent you and/or a co-borrower are “covered borrowers” under the Military Lending Act on such loan.

k. Will this Arbitration Agreement survive if your relationship with the Credit Union changes? This Arbitration Agreement shall survive your death, the closing of any of your accounts, the termination of any product or service, or of your business or transaction(s) with us, or any bankruptcy filing to the extent consistent with applicable bankruptcy law and shall also survive as to any claim within the scope of the Membership Account Agreement.

l. What law will govern the enforceability of this Arbitration Agreement? Notwithstanding anything to the contrary in the Membership Account Agreement, this Arbitration Agreement is governed by the Federal Arbitration Act (“FAA”) and shall be interpreted and enforced in accordance with the FAA to the fullest extent possible, notwithstanding any state law to the contrary, regardless of the origin or nature of the claim or dispute at issue. Any issue concerning whether or the extent to which a dispute or claim is subject to arbitration, including issues relating to the validity or enforceability of this Arbitration Agreement, shall be determined by the arbitrator. Only a court, and not an arbitrator, however, shall determine the validity and effect of the waiver of class and collective actions below. If any term or provision of this Arbitration Agreement is held to be invalid or unenforceable, the remaining provisions shall be enforced without regard to the invalid or unenforceable term or provision.

3. WAIVER OF CLASS AND COLLECTIVE ACTION AND WAIVER OF JURY TRIAL FOR CLAIMS SUBMITTED TO ARBITRATION

a. YOU AND THE CREDIT UNION EACH EXPRESSLY INTEND AND AGREE THAT ANY AND ALL CLAIMS SUBMITTED TO ARBITRATION MUST BE BROUGHT IN THE PARTY'S INDIVIDUAL CAPACITY AND HEARD SOLELY ON AN INDIVIDUAL BASIS, AND NOT AS PART OF A CLASS ACTION OR OTHER PURPORTED OR ACTUAL COLLECTIVE ACTION OR OTHER REPRESENTATIVE ACTION OR PROCEEDING. WITH RESPECT TO ALL SUCH ARBITRABLE CLAIMS, YOU HEREBY AGREE TO WAIVE THE RIGHT TO PARTICIPATE IN A CLASS ACTION, COLLECTIVE ACTION, OR OTHER REPRESENTATIVE ACTION OR PROCEEDING, OR LITIGATE ON A CLASS-WIDE BASIS OR ANY BASIS OTHER THAN AN INDIVIDUAL BASIS. YOU AND THE CREDIT UNION HEREBY VOLUNTARILY AND KNOWINGLY ACKNOWLEDGE AND AGREE THAT, WITH RESPECT TO ALL DISPUTES, CONTROVERSIES, AND CLAIMS SUBMITTED TO ARBITRATION, ALL PARTIES ARE WAIVING THE RIGHT TO TRIAL BY JURY TO THE FULLEST EXTENT ALLOWED BY LAW. THE PARTIES ANTICIPATE THAT BY ENTERING INTO THIS AGREEMENT, THEY WILL GAIN THE BENEFITS OF A SPEEDY AND LESS EXPENSIVE DISPUTE RESOLUTION PROCEDURE.

4. YOUR RIGHT TO OPT OUT OF THIS ARBITRATION AGREEMENT

a. IF YOU DO NOT WANT THIS ARBITRATION AGREEMENT TO APPLY TO THE MEMBERSHIP ACCOUNT DISCLOSURE AND/OR YOUR ACCOUNTS, PRODUCTS, OR SERVICES GOVERNED THEREUNDER, YOU MAY OPT OUT BY SENDING A WRITTEN REQUEST TO THE CREDIT UNION POSTMARKED WITHIN SIXTY (60) DAYS OF THE FIRST TIME YOU RECEIVE THIS ARBITRATION AGREEMENT. THE OPT-OUT MUST INCLUDE YOUR FULL NAME, ADDRESS, TELEPHONE NUMBER, ACCOUNT NUMBER AND PERSONAL SIGNATURE, AND MUST BE MAILED TO THE CREDIT UNION AT: REDWOOD CREDIT UNION, PO BOX 6104, SANTA ROSA, CA 95406. OPTING OUT WILL NOT TERMINATE THE MEMBERSHIP ACCOUNT DISCLOSURE OR AFFECT ANY OTHER RIGHTS OR OBLIGATIONS YOU OR THE CREDIT UNION HAVE UNDER THE MEMBERSHIP ACCOUNT DISCLOSURE. IF YOU DO NOT OPT OUT AS PROVIDED ABOVE WITHIN SIXTY (60) DAYS, YOU UNDERSTAND AND AGREE THAT THIS ARBITRATION AGREEMENT SHALL BE BINDING ON YOU AND THE CREDIT UNION.

J. HOW TO CONTACT US

1. All notices from RCU will be effective when mailed or delivered to you at the last known address on our records. You may contact RCU as follows:

  • a. Secure email: Log in to online or mobile banking and select “Contact” to send us a message.
  • b. Email: Visit redwoodcu.org and click “Contact Us”
  • c. Phone: Local at (707) 545-4000 or Toll-Free at 1 (800) 479-7928
  • d. Mail: Redwood Credit Union, PO Box 6104, Santa Rosa, CA 95406