Disclosures

Mortgage, Mobile Home on Land, Land, Home Equity (Loan and Line)

Credit Score/Risk Based Pricing       A (≥720)    B (680‐719)    C (661‐679)    D (620‐660)*     E (≤619)*
LLPA added to Par (A) Rate                    PAR         LLPA .25        LLPA 1.00       LLPA 2.00       LLPA 2.50

LLPA Cash out refi >75% LTV          0.75         1.50             2.50                 3.50            4.00

Origination fee (points) added to closing costs (1st Mortgage Only) Home Improvement Excluded

LTV greater than 80% will be charged an additional .25 (to 85%) and .50 (to 90%)to the Rate on an exception basis if there is no Mortgage Insurance-all mortgage & Home Equity products.
         
* Requires second approval by Retail Loan Manager, Loan Operations Manager, or President.     
*! Mortgage APR (Retained) will not exceed 3.5% over applicable APOR-rate may be adjusted lower to comply with this rule (Small Creditor QM)  
**LLPA’s exclude Secondary Market Mortgage product-Secondary Market LLPA’s apply (See Cuso Pricing Matrix)    
*** Max Age of Mobile home on land is 25 years and in a park is 20 years.      
Exceptions for age of mobile home considered on a case by case basis with additional .50% Rate LLPA-Max Term 15 years.    
         
Commercial/ Non owner-occupied property (1-4 family only)- no MH park, 1st position only, 1% additional add on for rate, 75% max LTV, 70% max cash out LTV & max term 20 years. Borrower may not own more than 4 rental properties, if they do the loan must be submitted to NDBS.
         
LTV=Loan to Value is loan amount divided by collateral value ( based on purchase price or appraised value whichever is less).    
LLPA (Loan Level Price Adjustment) is an increase in rate added to portfolio loan par rate or orignation fees and is determined by applicable credit score, LTV & Loan Purpose.
Proof of Flood and/or Property Insurance (full coverage required for term of loan) listing Dirigo FCU as lienholder required at closing.   
APR=Annual Percentage Rate. The APR will vary based on loan amount and actual finance charges incurred.    
Payment per thousand is based on the maximum term and does not include amounts for taxes and insurance premiums.    
         
ALL RATES SUBJECT TO CHANGE WITHOUT NOTICE        

Auto, Truck Loans, Motorcycle, ATV, Snowmobile, Travel Trailers, RV’s, and Boats

MEMBERSHIP ELIGIBILITY REQUIREMENTS: An individual must live, work or attend school in Androscoggin, Cumberland, Franklin, Kennebec, Knox, Lincoln, Oxford, Sagadahoc, Somerset, or York, Maine. Immediate Family Members of existing Members are also eligible. $25.00 Opening Deposit for membership must be included with funding packet or $25 will be withheld from Dealer proceeds.

Term restrictions for Travel Trailers (RVs) and Boats
25K minimum loan amount for 120 month term
35K minimum Laon amount for 180 month term

RESTRICTIONS:
– No Salvaged, Flood Damaged, Lemon Law, Reconstructed or Re-branded Titles will be financed.
– Insurance Deductibles cannot exceed $1,000. Proof of Insurance (Full Coverage) listing Dirigo FCU as lienholder
– Maximum of 45 Days to First Payment
– No Commercial Vehicle will be financed
– Approvals are good for 30 Days
– No Straw Purchases will be financed
– Proof of Income (most recent 2 Paystub) required for all applicants under 680.
– Current Tax Returns required for all Self Employed under 680.
– Maximum APR is 18.00%

Loan Fees & Cost:
Doc Fee (Purchase or new loan)**** $35.00
Doc Fee (Refinance from Dirigo)**** $50.00

ALL RATES SUBJECT TO CHANGE WITHOUT NOTICE

Tractors

MEMBERSHIP ELIGIBILITY REQUIREMENTS: An individual must live, work or attend school in Androscoggin, Cumberland, Franklin, Kennebec, Knox, Lincoln, Oxford, Sagadahoc, Somerset, or York, Maine. Immediate Family Members of existing Members are also eligible. $25.00 Opening Deposit for membership must be included with funding packet or $25 will be withheld from Dealer proceeds.

Term restrictions for Tractors & Implements
10k Minimum loan amount for 84 month term
15K minimum loan amount for 120 month term
35K minimum Laon amount for 180 month term

RESTRICTIONS:

  • No Salvaged, Flood Damaged, Lemon Law, Reconstructed or Re-branded Titles will be financed.
  • Insurance Deductibles cannot exceed $1,000. Proof of Insurance (Full Coverage) listing Dirigo FCU as lienholder
  • Maximum of 45 Days to First Payment
  • No Commercial Vehicle will be financed
  • Approvals are good for 30 Days
  • No Straw Purchases will be financed
  • Proof of Income (most recent 2 Paystub) required for all applicants under 680.
  • Current Tax Returns required for all Self Employed under 680.
  • Maximum APR is 18.00%

Loan Fees & Cost:
Doc Fee (Purchase or new loan)* $35.00 Doc Fee (Refinance from Dirigo)* $50.00

Unsecured, Share, CD, Other Secured, Energy/Emergency & OD LOC

MEMBERSHIP ELIGIBILITY REQUIREMENTS: An individual must live, work or attend school in Androscoggin, Cumberland, Franklin, Kennebec, Knox, Lincoln, Oxford, Sagadahoc, Somerset, or York, Maine. Immediate Family Members of existing Members are also eligible. $25.00 Opening Deposit for membership must be included with funding packet or $25 will be withheld from Dealer proceeds.

Term restrictions for Tractors & Implements
10k Minimum loan amount for 84 month term
15K minimum loan amount for 120 month term
35K minimum Laon amount for 180 month term

RESTRICTIONS:

  • No Salvaged, Flood Damaged, Lemon Law, Reconstructed or Re-branded Titles will be financed.
  • Insurance Deductibles cannot exceed $1,000. Proof of Insurance (Full Coverage) listing Dirigo FCU as lienholder
  • Maximum of 45 Days to First Payment
  • No Commercial Vehicle will be financed
  • Approvals are good for 30 Days
  • No Straw Purchases will be financed
  • Proof of Income (most recent 2 Paystub) required for all applicants under 680.
  • Current Tax Returns required for all Self Employed under 680.
  • Maximum APR is 18.00%

Loan Fees & Cost:
Doc Fee (Purchase or new loan)* $35.00 Doc Fee (Refinance from Dirigo)* $50.00

Home Equity Line Product

10 Yr Draw with 20 Yr Repayment feature, Interest only during the draw period with a minimum monthly payment of $100.00 or the interest accrued whichever is greater, Interest Rate based on credit score and LTV.

Certificates

The amount of early withdrawal penalty is an amount equal to 90 days’ dividends whether earned or not for certificates under two years and 180 days’ dividends whether earned or not for certificates two years and over.

Certificates renew automatically. Rates subject to change at any time without notice. Relationship pricing is available for aggregate certificate account balances over $100,000 – see Member Service Representative. +.10% not to exceed Jumbo Rates and APY for same term.

IRA Variable

Rates subject to change at any time without notice.

Share Accounts

Rates subject to change at any time without notice

*Free 4 Me Account only available for ages 18-25.

Money Market Share Accounts

*Variable Rates are subject to change without notice.

Checking Accounts

Honors Checking Truth in Savings Disclosure 

This disclosure contains the rules that govern your deposit account as of March 1, 2022. 

Account Overview 

Dirigo Federal Credit Union’s Honors Checking is a free, variable rate checking account with no minimum balance. A Honors Checking rewards accountholders with dividends and nationwide ATM fee refunds when they meet minimum qualifications during the account’s Monthly Qualification Cycles. 

Purpose & Use Expectations 

The Dirigo Honors Checking is the accountholder’s primary checking account in which payroll transactions and day‐to‐day spending activities, including but not limited to grocery, gasoline, apparel, shopping, dining, sporting, and entertainment transactions, are posted and settled. 

Transaction Activity: Comparable with the spending activities identified above, we expect the account’s debit card to be used frequently throughout each month and for transaction amounts to reflect a wide dollar range. Small debit card transactions conducted on the same day at a single merchant or multiple transactions made during a condensed period, particularly near the end of a Monthly Qualification Cycle, are not considered normal, day‐to‐day spending behavior. For example, our institution does not consider multiple one dollar ($1) debit card transactions conducted two days before the end of the cycle period at a convenience store as usual day-to-day spending behavior. Calculated transactions made to qualify for rewards could be deemed inappropriate and may not count toward earning the account’s rewards. 

Account Purpose & Use: Dirigo Federal Credit Union reserves the right to determine if the account is being maintained for a purpose other than day‐to‐day, primary use. Accountholders who persist in making debit card transactions in a calculated and limited fashion to meet their monthly qualifications may have their accounts converted to a different checking account or closed altogether. We also reserve the right to convert the account to a different checking account if the account does not have consistent active use over 12 consecutive Statement Cycles. 

Qualifications 

You must meet all four (4) qualifications during each Monthly Qualification Cycle to receive the Honors Checking rewards: 

1. Have at least 1 ACH credit transaction post and settle 

2. Have at least 12 PIN‐based or signature‐based debit card purchases post and settle 

3. Be enrolled in and agree to receive e‐Statements 

4. Be enrolled in and log into online banking 

“Monthly Qualification Cycle” means the current Statement Cycle. 

“Statement Cycle” means the period of time for which Dirigo Federal Credit Union provides a summary of the financial activities and transactions that post and settle to the accountholder’s account. 

Activity Posting: Transactions and activities may take one (1) or more Business Days from the date the transaction or activity occurred to post and settle to the account. Transactions bundled together by merchants and received by our institution as a single transaction count as a single transaction towards monthly rewards. 

Unqualified Account Activities: ATM‐processed transactions, transfers between accounts, debit card purchases processed by merchants and received by our Credit Union as ATM transactions, non‐retail payment transactions, and purchases made with debit cards not issued by our Credit Union do not count toward earning account rewards. 

Rewards 

Dividends and ATM fee reimbursements will be credited to the account on the last day of the current Statement Cycle. APY = Annual Percentage Yield. APY calculations are based on an assumed total account balance of $100,000.00 

Dividend Rate & Annual Percentage Yield (APY): When your Honors Checking account qualifications are met during a Monthly Qualification Cycle, Tier 1: A dividend rate of 1.98% will be paid on the portion of your average daily balance that is less than or equal to $25,000.00. The annual percentage yield for this tier is 2.00%. Tier 2: A dividend rate of 0.299% will be paid on the portion of your average daily balance that is greater than $25,000.01. The annual percentage yield for this tier will range from 2.00% to 0.64%, depending on the balance in the account. When your Honors Checking account qualifications are not met, the dividend rate paid on the entire balance will be 0.049%, with an annual percentage yield of 0.05%. 

Compounding & Crediting: Dividends are compounded every month. Dividends are credited to your account on the last day of the current Statement Cycle. If you close your account before the dividend is credited, you will not receive the accrued dividend. Dividends begin to accrue on the Business Day you deposit cash or non-cash items (for example, checks). 

Balance Computation Method: Dirigo FCU uses the average daily balance method to calculate the dividends on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal for each day of the period and dividing that figure by the number of days in the period. The period we use is the Statement Cycle. 

ATM Fee Refunds: You will receive reimbursements up to an aggregate total of $25.00 (a maximum of $4.99 per single transaction) for nationwide ATM withdrawal fees imposed by other financial institutions and incurred during the Monthly Qualification Cycle in which you qualified. An ATM receipt must be presented for reimbursements of individual ATM withdrawal fees of $5.00 or higher. We reimburse ATM withdrawal fees based on estimates when the withdrawal information we receive does not identify the ATM fee. 

If you have not received an appropriate reimbursement, we will adjust the reimbursement amount if a transaction receipt is received within sixty (60) calendar days of the withdrawal transaction. 

Rates and rewards are variable and at our discretion, may change after the account is opened without notice to you. Fees may reduce earnings. No minimum balance is required to earn or receive the account’s rewards. See the accompanying Schedule of Fees for fees that may apply to this account. Rewards less than a penny cannot be distributed. 

Terms & Conditions 

A $0.00 minimum deposit is required to open the account. Monthly ACH credit, enrollment and at least one login to online banking, receipt of electronic statements and 12 debit card transactions post and settle are conditions of this account. There are no fees to open or close this account. There are no recurring monthly service charges associated with this account. Enrollment in electronic services (e.g., online banking, electronic statements) may be required to meet some of this account’s qualifications. There is a limit of 1 account(s) per social security number. 

See the accompanying Schedule of Fees for any fees that may apply to this account. 

Closure of Checking Account: We have the right to close this account at any time, with proper notice. Our decision to close the account will not affect your existing obligations to us, including any obligation to pay fees or charges incurred before termination. No deposits will be accepted, and no checks will be paid after closing the account. If the account is closed, you will forfeit any uncredited rewards to your account. A Dirigo Federal Credit Union check for the remaining balance, if applicable, will be mailed to the accountholder at the address indicated on our current records. In addition, any optional add‐on products or services associated with your Honors Checking account will also be terminated. This account is not to be used for commercial purposes. 

Contact a Dirigo Federal Credit Union service representative for additional information, details, and enrollment instructions at 1.800.281.5435. Federally insured by NCUA. 

Overdraft Protection 

Dirigo Federal Credit Union offers optional overdraft protection plans to protect you from overdrafts and declined transactions. The following fees are applicable: A Member Privilege Fee of $27.00 for each item we pay. A Non‐Sufficient Funds (NSF) Fee of $27.00 for each item returned unpaid. 

Overdraft Protection Transfer Fee (if you are enrolled) is $1.00 each time we transfer available funds from the savings account to the checking account to clear an item. The fee may be imposed for covering overdrafts created by check, in‐person withdrawal, ATM withdrawal, or other electronic means. 

Dirigo FCU is not obligated to pay overdrafts if your account is not in good standing, you are not making regular deposits, or you have too many overdrafts. 

Dirigo Federal Credit Union reserves the right to require the accountholder to pay an overdraft immediately or on demand, or require the accountholder to establish a positive account balance within 30 days, not exceeding 45 days. 

Signature Rewards Checking Account 

This disclosure contains the rules that govern your deposit account as of March 1, 2022 

Account Overview 

Dirigo FCU’s Signature Rewards is a free variable reward checking account with no minimum balance. A Signature Rewards Checking rewards accountholders with cash back on their PIN/Signature based debit card purchases and nationwide ATM fee refunds when they meet minimum qualifications during the account’s Monthly Qualification Cycle. 

Purpose & Use Expectations 

The Signature Rewards account is intended to be the accountholder’s primary checking account in which payroll transactions and day-to-day spending activities, including but not limited to grocery, gasoline, apparel, shopping, dining, sporting, and entertainment transactions, are posted and settled. 

Transaction Activity: Comparable with the spending activities identified above, we expect the account’s debit card to be used frequently throughout each month and for transaction amounts to reflect a wide dollar range. Small debit card transactions conducted on the same day at a single merchant or multiple transactions made during a condensed period, particularly near the end of a Monthly Qualification Cycle, are not considered normal, day‐to‐day spending behavior. For example, our institution does not consider multiple one dollar ($1) debit card transactions conducted two days before the end of the cycle period at a convenience store as usual day-to-day spending behavior. Calculated transactions made to qualify for rewards could be deemed inappropriate and may not count toward earning the account’s rewards. 

Account Purpose & Use: Dirigo Federal Credit Union reserves the right to determine if the account is being maintained for a purpose other than day‐to‐day, primary use. Accountholders who persist in making debit card transactions in a calculated and limited fashion to meet their monthly qualifications may have their accounts converted to a different checking account or closed altogether. We also reserve the right to convert the account to a different checking account if the account does not have consistent active use over 12 consecutive Statement Cycles. 

Qualifications 

You must meet all four (4) qualifications during each Monthly Qualification Cycle to receive the Signature Rewards Checking rewards: 

1. Have at least 1 ACH credit transactions post and settle 

2. Have at least 12 PIN/signature-based debit card purchases 

3. Be enrolled in and agree to receive e-Statements 

4. Be enrolled in and log into online banking at least once per monthly cycle 

“Banking Day” means any business day on which an office of the credit union is open to the public for the purpose of carrying out substantially all of its banking functions. 

“Business Day” means a calendar day other than a Saturday or a Sunday, January 1, the third Monday in January, the third Monday in February, the last Monday in May, July 4, the first Monday in September, the second Monday in October, November 11, the fourth Thursday in November, or December 25. If January 1, July 4, November 11, or December 25 falls on a Sunday, the following Monday is not a Business Day. 

“Statement Cycle” means the period of time for which Dirigo Federal Credit Union provides a summary of the financial activities and transactions that post and settle to the accountholder’s account. 

“Monthly Qualification Cycle” means the current Statement Cycle. 

Activity Posting: Transactions and activities may take one (1) or more Business Days from the date the transaction or activity occurred to post and settle to the account. Transactions bundled together by merchants and received by our institution as a single transaction count as a single transaction towards monthly rewards. 

Unqualified Account Activities: ATM‐processed transactions, transfers between accounts, debit card purchases processed by merchants and received by our Credit Union as ATM transactions, non‐retail payment transactions, and purchases made with debit cards not issued by our Credit Union do not count toward earning account rewards. 

Rewards 

Signature Rewards payments and ATM refunds will be credited to the account on the last calendar day of the month. 

When Signature Rewards qualifications are met during a Monthly Qualification Cycle, you will receive: 

1. 2.00% cash back on up to a total of $400.00 PIN-based/signature-based debit card purchases that post and settle to the account during that cycle period up to a maximum cash back earned of $8.00 per Monthly Qualification Cycle. 

2. Reimbursements up to an aggregate total of $25.00 (a maximum of $4.99 per single transaction) for nationwide ATM withdrawal fees imposed by other financial institutions and incurred during the Monthly Qualification Cycle in which you qualified. An ATM receipt must be presented for reimbursements of individual ATM withdrawal fees of $5.00 or higher. We reimburse ATM withdrawal fees based on estimates when the withdrawal information we receive does not identify the ATM fee. If you have not received an appropriate reimbursement, we will adjust the reimbursement amount if a transaction receipt is received within sixty (60) calendar days of the withdrawal transaction. 

Rates and rewards are variable and at our discretion, may change after the account is opened without notice to you. Fees may reduce earnings. No minimum balance is required to earn or receive the account’s rewards. See the accompanying Schedule of Fees for fees that may apply to this account. Rewards less than a penny cannot be distributed. 

When Signature Rewards qualifications are not met, you will not receive rewards on PIN-based/signature-based debit card purchases and ATM fees are not refunded. 

Closure of Checking Account: We have the right to close this account at any time, with proper notice. Our decision to close the account will not affect your existing obligations to us, including any obligation to pay fees or charges incurred before termination. No deposits will be accepted, and no checks will be paid after closing the account. If the account is closed, you will forfeit any uncredited rewards to your account. A Dirigo Federal Credit Union check for the remaining balance, if applicable, will be mailed to the accountholder at the address indicated on our current records. In addition, any optional add‐on products or services associated with your Signature Rewards Checking account will also be terminated. This account is not to be used for commercial purposes. 

Contact a Dirigo Federal Credit Union service representative for additional information, details, and enrollment instructions at 1.800.281.5435. Federally insured by NCUA. 

Terms & Condition 

A $0.00 minimum deposit is required to open the account. Monthly ACH credit, enrollment and at least one login to online banking, receipt of electronic statements, and 12 debit card transactions post and settle are conditions of this account. This account is not to be used for commercial purposes, and there is a limit of 1 account per social security number. There are no recurring monthly service charges associated with this account. See Dirigo Federal Credit Union’s schedule of Fees for fees that may apply to this account. Enrollment in electronic services (e.g. online banking, electronic statements) may be required to meet some of this account’s qualifications. 

Overdraft Protection 

Dirigo Federal Credit Union offers optional overdraft protection plans to protect you from overdrafts and declined transactions. The following fees are applicable: A Member Privilege Fee of $27.00 for each item we pay. A Non‐Sufficient Funds (NSF) Fee of $27.00 for each item returned unpaid. 

Overdraft Protection Transfer Fee (if you are enrolled) is $1.00 each time we transfer available funds from the savings account to the checking account to clear an item. The fee may be imposed for covering overdrafts created by check, in‐person withdrawal, ATM withdrawal, or other electronic means. 

Dirigo FCU is not obligated to pay overdrafts if your account is not in good standing, you are not making regular deposits, or you have too many overdrafts. 

Dirigo Federal Credit Union reserves the right to require the accountholder to pay an overdraft immediately or on demand, or require the accountholder to establish a positive account balance within 30 days, not exceeding 45 days. 

Member Privilege

OVERDRAFT POLICY: An insufficient balance can result from several events, such as (1) the payment of checks, electronic funds transfers or other withdrawal requests; (2) payments authorized by you; (3) the return of unpaid items deposited by you; (4) credit union service charges; or (5) the deposit of items which, according to the credit union’s Funds Availability Policy, are treated as not yet available or finally paid. We are not obligated to pay any item presented for payment if your account does not contain sufficient funds.

If your account is in “good standing,” we may approve your overdraft items within your current available Member Privilege limit as a non contractual courtesy. For Member Privilege consideration, your account is in “good standing” if you (1) make sufficient deposits to bring your account to a positive end-of-day balance at least once every 30 calendar days (including the payment of all credit union fees and charges) not to exceed 60 calendar days; (2) avoid excessive overdrafts suggesting the use of Member Privilege as a continuing line of credit; and (3) have no legal orders, levies or liens against your account.

In the normal course of business, we generally pay electronic transactions first and then checks low to high, per the credit union’s policy. We reserve the right to change the order of payment without notice to you if we suspect fraud or possible illegal activity affecting your account. Also, please be aware that the order of item payment may create multiple overdraft items during a single banking day for which you will be charged our Member Privilege fee of $27.00 for each overdraft item paid.

You will not be charged more than six (6) Member Privilege fees per day. You may opt out of Member Privilege at any time, but you are responsible for any overdrawn balances at the time of opting out. Normally, we will not approve an overdraft for you in excess of the predetermined amount assigned to your account type. So as not to exceed your limit, please note that the amount of the overdraft plus the credit union’s Member Privilege fee of $27.00 per item will be deducted from the limit. You will not be charged more than six (6) Member Privilege fees per day.

We may refuse to pay an overdraft item at any time even though we may have previously paid overdrafts for you. For example, we typically do not pay overdraft items if your account is not in good standing as defined above, or, if based upon our review of your account management, we determine that you have too many overdrafts or are using Member Privilege as a regular line of credit. You will be charged a Returned Item NSF (Non-sufficient funds) fee of $27.00 for each item returned as well as the re-presentment of the same item up to three times.

You will be notified by mail of any non-sufficient funds, items paid, or returned that you may have; however, we have no obligation to notify you before we pay or return any item. The amount of any overdraft including our Member Privilege fee of $27.00 and/ or a Returned Item NSF fee of $27.00 that you owe us shall be due and payable upon demand, but if no demand is made, no later than 30 calendar days after the creation of the overdraft, not to exceed 60 calendar days. If there is an overdraft on an account with more than one owner on the signature card, each owner and agent, if applicable, shall be jointly and severally liable for all overdrafts inclusive of fees.

Member Privilege should not be viewed as an encouragement to overdraw your account. To avoid fees, we encourage you to keep track of your account balance by entering all items in your check register, reconcile your checkbook regularly, and manage your finances responsibly. If you would like to have this service removed from your account, please call 1-800-281-5435.

Please note that your Member Privilege limit may be available for each item paid under the limit created by checks and other transactions made using your checking account number, such as a teller withdrawal (for check clearing only), an automatic payment (ACH) transaction, or automatic bill payment and recurring debit card payment. Also, at your request, we may authorize and pay ATM transfers or withdrawals and everyday debit card purchases using your limit. Member Privilege is not available through the Dirigo FCU Home Banking and Teller-Phone. The limit will not be included in the balance provided during an inquiry.

LIMITATIONS: Member Privilege is a non-contractual courtesy that is available to individually/jointly owned accounts in good standing for personal or household use. Dirigo Federal Credit Union reserves the right to limit participation to one account per household and to suspend,
revoke, or discontinue this service without prior notice.

Mobile Deposit Capture Agreement Terms and Conditions

Mobile Deposit Capture Disclosure

DIRIGO Federal Credit Union

Mobile Deposit Capture Terms & Conditions

By selecting “Accept” you understand and agree to the terms and conditions presented below.

Use of DIRIGO Federal Credit Union’s Mobile Deposit Capture Service is subject to approval by DIRIGO Federal Credit Union (“Dirigo” “we,” “us”).  If you, the account-holder, are approved for mobile deposit capture (“MDC”), you agree that use of MDC is subject to the following terms and conditions, and Dirigo’s Member Agreement and Disclosures.

  1. MDC allows you to make check or “item” deposits to your savings (share) and/or checking (share draft) accounts from your camera-enabled mobile device. The mobile device must capture an image of the front and back of each check to be deposited in accordance with the Procedures; must read and capture the magnetic ink character recognition (“MICR”) line on each check; and must read and capture all such other data and information as is required by this agreement or Federal Reserve regulations for the processing of each check for payment.
  2. Dirigo is not responsible for any technical difficulties you experience attempting to use MDC. You agree and understand that MDC may at times be temporarily unavailable. In the event that MDC is not available, you acknowledge that you can deposit an original check at a branch, Shared Branch location, or by mailing the original check to a branch location. It is your sole responsibility to verify that items presented for deposit using MDC have been received and accepted for deposit.
  3. To use Dirigo’s MDC service, you must have a suitable mobile device and have online/mobile banking.
  4. When you make a successful MDC deposit, you will be notified by an application message. You agree that once you have received confirmation that we have successfully processed your MDC deposit, you will clearly mark the check or item “void” and retain it for an additional fifteen (15) business days. You agree to defend, indemnify and hold and any third party service provider harmless from any claims, damages, losses, liability or expenses to which we and/or our service provider may become subject as a result of an item you deposited via MDC being presented for duplicate payment. This indemnity shall include costs of defense including reasonable attorneys’ fees.
  5. Only the following items are eligible for MDC deposit: checks or items drawn on U.S. financial institutions in U.S. dollars, or checks or items drawn on United States Treasury, or checks or items drawn on any state or local government of the United States. Checks or items must be payable to you and endorsed by you with the restrictive legend, “Mobile deposit capture only to Dirigo Federal Credit Union.” You agree not to attempt to use MDC to deposit items or checks with any of the following characteristics:
  1. The check is not payable to you
  2. There is any apparent alteration to the front of the check
  3. You know or have reason to believe that the check is fraudulent or otherwise not authorized by the owner of the account on which the check is drawn
  4. The check is payable in a currency other than U.S. dollars
  5. The check has been previously converted to a substitute check as defined in the Expedited Funds Availability Act
  6. The check has been remotely created
  7. The date of issue of the check is more than six (6) months prior to the attempted deposit date
  8. You have any reason to believe that the check will not be paid by the institution on which it is drawn
  9. Checks with “non-negotiable” watermarks
  10. Savings bonds
  11. The check image transmitted via MDC must be legible and compliant with requirements established from time to time by the American National Standards Institute, the Board of Governors of the Federal Reserve, or any other regulatory agency, clearinghouse or association.
  12. We may terminate or change the terms of MDC service at any time, including but not limited to changing the categories of checks we will accept for deposit via MDC or endorsement requirements, with or without notice to you.
  13. We may, at our sole discretion, refuse to accept any item presented for deposit via MDC. We will notify you via the method agreed with you if we do this. We will have no liability to you under any circumstances for declining to accept items presented for deposit via MDC.
  14. Funds from any check or item deposited via MDC will be available to you after final collection from the institution on which it is drawn. We may make funds available sooner depending on factors we at our sole discretion deem relevant, including but not limited to your account history and your creditworthiness.
  15. Checks or items deposited via MDC are subject to a daily deposit limit of Ten Thousand Dollars ($10,000.00). We reserve the right to change limits on the amount(s) and/or number of deposits that you transmit and to modify such limits from time to time.
  16. You agree to notify us of any errors with respect to MDC deposits within thirty (30) days after we send you the first periodic statement on which they appear. We will review your claim and correct any error on our part. We will not, however, be responsible for errors asserted more than thirty (30) days after we send you the periodic statement on which they appear. In the event of an error with respect to any original check or image thereof transmitted to us for deposit or a breach of the agreement, you will immediately contact us at 1-800-281-5435 or email us using our secure messaging service within Online Banking.
  17. You agree not to copy, reproduce, distribute or create derivative works from the content of the MDC service or to reverse engineer or reverse compile any technology used to provide the MDC service. Dirigo and our third-party service providers, if any, retain all ownership and proprietary rights in the MDC services, associated content, technology and web sites. You agree to cooperate with us in the investigation of unusual transactions, poor quality transmissions, and resolution of member claims, including by providing, upon request and without further cost, any originals or copies of items deposited through the MDC Service in your possession and your records relating to such items and transmissions.
  18. DISCLAIMER OF WARRANTIES. YOU AGREE THAT YOUR USE OF THE MDC SERVICES AND ALL INFORMATION AND CONTENT (INCLUDING THAT OF THIRD PARTIES) IS AT YOUR RISK AND IS PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. WE DISCLAIM ALL WARRANTIES OF ANY KIND RELATING TO THE USE OF THE MDC SERVICES, WHETHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANT ABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT. WE MAKE NO WARRANTY THAT THE MDC SERVICES WILL MEET YOUR REQUIREMENTS, THAT THE MDC SERVICES WILL BE UNINTERRUPTED, TIMELY, SECURE OR ERROR-FREE, THAT THE RESULTS THAT MAY BE OBTAINED FROM THE MDC SERVICE WILL BE ACCURATE OR RELIABLE, OR THAT ERRORS IN THE MDC SERVICES OR TECHNOLOGY WILL BE CORRECTED.
  19. LIMITATION OF LIABILITY. YOU AGREE THAT WE WILL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING BUT NOT LIMITED TO DAMAGES FOR LOST PROFITS, GOODWILL, USE, DATA OR OTHER LOSSES RESULTING FROM USE OF THE MDC SERVICES, INABILITY TO USE THE MDC SERVICES, OR TERMINATION OF THE MDC SERVICES, INCURRED BY YOU OR ANY THIRD PARTY, REGARDLESS OF THE FORM OF ACTION OR CLAIM (WHETHER CONTRACT, TORT, STRICT LIABILITY OR OTHERWISE), EVEN IF HAS BEEN INFORMED OF THE POSSIBILITY THEREOF.

Rev: December 10, 2019