CAPITAL MANAGEMENT

The capital levels are prescribed by Australian Prudential Regulation Authority (APRA). Under the APRA prudential standards APS 110, 111, 112, 114, 116 where capital is determined in three components

CAPITAL RESOURCES

Under the prudential standards capital is segregated into Tier 1 and Tier 2 components.

Tier 1 Capital

The vast majority of Tier 1 capital comprises:

Tier 2 Capital

Tier 2 capital consists of capital instruments that combine the features of debt and equity in that they are structured as debt instruments, but exhibit some of the loss absorption and funding flexibility features of equity. There are a number of criteria that capital instruments must meet for inclusion in Tier 2 capital resources as set down by APRA.

Tier 2 capital generally comprises:

Capital in the Credit Union is made up as follows:

The credit union is required to maintain a minimum capital level of 8% as compared to the risk weighted assets at any given time. The ratio is derived by the fraction of Total Capital divided by the risk weighted assets.

RISK WEIGHTED ASSETS

The total of risk weighted assets comprises

1. Credit risk weighted for on balance sheet assets
2. Credit risk weighted assets for commitments to issue funds for loans and other guarantees
3. Operational risk charge as described in APS 114.

These components are described below

The risk weights attached to each asset are based on the weights prescribed by APRA in its Guidance AGN 112-1. The general rules apply the risk weights according to the level of underlying security.

The capital required and held is as follows:

The level of capital ratio can be affected by growth in asset relative to growth in reserves and by changes in the mix of assets.

CREDIT RISK EXPOSURES

(i) Investments
Surplus cash not invested in loans to members are held in high quality liquid assets. This included the funds required to be held to meet withdrawal of deposits by members of the Credit Union.

External Credit Assessment for Investments
The Credit Union uses the ratings of reputable ratings agencies to assess the credit quality of all investment exposure, where applicable, using the credit quality assessment scale in APRA prudential Guidance APG112. The credit quality assessment scale within this standard has been complied with.

The exposure values associated with each credit quality step are as follows:

(ii) Loans
The classes of loans entered into by the Credit Union is limited to loans; commitments and other non-market off-balance sheet exposures. The Credit Union does not enter into debt securities; and over-the-counter derivatives.

The analysis of the Credit Union’s loans by class, is as follows:

The commitments set out above comprised as follows:

IMPAIRMENT DETAILS

The level of impaired loans by class of loan is set out below. In the Note below.

The impaired loans are generally not secured against residential property. Some impaired loans are secured by bill of sale over motor vehicles or other assets of varying value. It is not practicable to determine the fair value all collateral as at the balance date due to the variety of assets and condition.

Reserve for credit losses

In addition to the above provision for impairment, the board has recognised the need to make an allocation from retained earnings to ensure there is adequate protection for members against the prospect that some members will experience loan repayment difficulties in the future. The reserve is based on estimation of potential risk in the loan portfolio based upon the level of security taken as collateral.

The reserve has been determined on the basis of the past experience with the loan delinquency and amounts written off. The amounts of the reserve is currently $3,185,306.

The value of the reserve is amended to reflect the changes in economic conditions, and the relevant concentrations in specific regions and industries of employment within the loan book

Disclaimer

Your use of this site constitutes your agreement to the following Terms of Use. We have taken all reasonable care in producing this web site but we can’t guarantee it has all the information you need to answer all your questions. For information and assistance call us on 131 PCU (131 728). All product details, rates, terms, conditions and other information is subject to change at any time without notice.

Data

The data on the site is provided solely for the use of the members of The Police Department Employees’ Credit Union (PCU). The content on this web site is provided “as is”. PCU disclaims any and all warranties, express and implied to the extent permitted by law. Use of the content on this site is at the user’s sole risk. PCU will in no event be liable to any person or entity for any direct, indirect, consequential, incidental or other damages for any errors in the content on this site, or for the use of any content, including without limitation, damages for lost profits, business, data, or damage to any computer systems, even if you have advised PCU of the possibility of such damages.

Information

The information on this site does not constitute financial, legal or any other advice except where general advice may be provided on financial products in which case we have not taken your financial circumstances, needs and objectives into account and you should consider these things before making any decisions.

Links to other sites

This site contains links to sites maintained by other organisations. We do not make any representation as to the accuracy of information contained on those sites and will not accept any responsibility for the accuracy, ownership or any other aspect of the information contained on those sites.

Copyright

Unless otherwise indicated, copyright in the information on this site is owned by PCU. If you wish to reproduce any of the information on this site, please contact us and obtain our permission before doing so.

Privacy Guidelines

The Guidelines set out PCU’s policies relating to the privacy and security of your personal information and the personal information provided by you about your customers. It discloses our information collecting and use and disclosure practices for this website.

Network identity

We collect information which identifies, for each page accessed on our site, the network identity of the machine which has accessed it. We retain this usage information for the purposes of usage analysis to help us improve our services, to help diagnose problems with our server, and to administer our Web site. Access to and use of this information is restricted to authorised staff and our site administrators. No attempt will be made to identify users or their browsing activities. Nor will we disclose information which might identify individual machines.

Emails and newsletter subscription

If you provide us with your email address, we will record your email address, but will only use it for the purpose for which it was provided. It shall not be disclosed without your consent.

Cookies

Cookies are pieces of information a web site can transfer to an individual’s computer hard drive for record keeping. Cookies can make web sites easier to use by storing information about your preferences on a particular site. When you revisit a site, it accesses the cookies it sent you earlier. A cookie can only store information that you provide. PCU uses cookies for log in purposes only.

Use of information collected

Because we respect your right to privacy and your customers’ privacy, we do not sell or rent the information gathered.

Security of information

This site has security measures in place to protect the loss, misuse and alteration of the information under our control. Any access to and use of information is restricted to authorised staff and the site administrators. We attempt to provide a secure and reliable on-line environment, however you should be aware that there are inherent risks associated with the transmission of information via the internet. Alternative ways of obtaining or providing information are available if you wish to avoid any risk.

Links

This site contains links to other sites. PCU is not responsible for the privacy practices or the content of other web sites. When you access such other sites you must comply with their Privacy Policy.

Contacting the Police Credit Union regarding the Website

If you wish to access your personal information or have any questions about this privacy statement, the practices of this site, or your dealings with this Web site, you can contact PCU at: info@pcu.com.au

If this happens we would like the opportunity to put things right. We believe that by listening to your feedback, we may be able to identify ways to improve our service to you.

Our complaints Service is free, and does not affect your legal rights. So if you have a complaint, or positive feedback, here’s what to do.

What are the stages when you lodge a complaint?

We expect our internal processes will satisfy your complaint. However if we have not resolved your dispute in 45 days, or you do not agree with our decision, contact can be made with the Financial Ombudsman Service Limited (external dispute resolution scheme) for an external review of the decision made:

Financial Ombudsman Service
GPO Box 3 Melbourne,
Victoria 3001
Phone: 1300 780 808
Fax: (03) 9613 6399
website: www.fos.org.au

Internet Banking

Access to the service is free however certain transactions may attract a fee see current fees and charges brochure.
Effective: 1 June 2009. Terms and conditions, fees and charges apply and are available on request. The product issuer for deposit and payment products is The Police Department Employees’ Credit Union Limited. AFSL/Australian Credit Licence No. 240018. A Financial Services Guide (FSG) including terms and conditions is available at all Branches, upon request or click here. Any advice given has not taken into account your personal needs and financial circumstances and you should consider whether it is appropriate for you. Please read and consider the FSG in deciding whether to use a particular product.

AFSL/ACL No. 240018

PRIVACY STATEMENT AND CONSENT

1. Organisation Identity.
2. Purposes for which we may collect and use personal information.
3. Disclosure of personal information.
4. Personal information about third parties.
5. Access to your personal information and contacting us.
6. Non-disclosure.
7. Document retention.
8. Consent.

SYSTEM REQUIREMENTS

IBM compatible PC users
Apple Macintosh users
Smartphone

MOBILE BANKING

SECURITY OVERVIEW

Police Credit Union
The Internet
Your computer

CONDITIONS OF USE

1. Glossary of terms.
2. General Terms and Conditions of Online services.
3. Access code.
4. How to keep your Access code safe.
5. Security Tokens
6. Authorised person.
7. Ancillary equipment.
8. What to do if your Access code is lost or stolen, or you believe there has been unauthorised access to your access code and/or accounts.
9. Checking account records.
10. Who pays for transactions on your accounts, if there is unauthorised use of your access code?
11. What happens when you use these Online services?
12. What should you do if these Online services are not available?
13. When are we not liable?
14. What should you do if you think we have made a mistake or wish to make a complaint?
15. Can we change these conditions?
16. Can we add further services?
17. BPAY®:-

1. Glossary of Terms.
2. Conditions for using the BPAY Scheme.
3. Processing BPAY payments.
4. BPAY transaction limits.
5. Access and authorised persons.
6. Your liability for BPAY payments.
7. Our liability in respect of BPAY.
8. Resolving errors on account statements.
9. Transaction recording
10. Changes.
11. Cancellation of BPAY access.
12. BPAY miscellaneous.
18. Conditions binding.

TO OUR MEMBERS

This section contains the Terms and Conditions, which apply to your access to and use of our PCU Internet and Mobile Banking service including transactions on your accounts with us made through this service.

Please read through the Terms and Conditions carefully before accessing your membership accounts with us. It is important to know and understand your rights and obligations as well as the manner in which this service operates so that you may make an informed decision to proceed and use this service.

These Terms and Conditions operate alongside any legal rights held by you or us, but do not replace any of those rights.

A copy of these Terms and Conditions is also available at this site for future reference or we can forward a copy to you by mail.

If you have difficulty in using this service please telephone us on 131 PCU (131 728).

PRIVACY STATEMENT AND CONSENT

As a member of a credit union we will collect personal information from you from time to time. This statement explains how we collect, use and disclose personal information. We will not use or disclose your information otherwise than as set out in this statement, for a purpose you would reasonably expect, a purpose required or authorised by law, or a purpose otherwise disclosed to or authorised by you.

‘Personal information’ is information about and which identifies individuals. It includes information obtained from any source and, should you apply for a loan or act as a guarantor of a loan, it will include anything about credit worthiness, standing history and capacity which, under and in accordance with the Privacy Act 1988, may lawfully be exchanged.

Privacy Statement can be viewed on this page under “Internet Banking Privacy Statement” tab.
You confirm that you have read our complete Privacy Statement.

SYSTEM REQUIREMENTS

There are certain requirements you need to have before you may use PCU Internet Banking.
System Requirements are listed on this page under the “System Requirements” Tab

MOBILE BANKING

PCU Mobile Banking is an internet based banking service. You can access PCU Mobile Banking through your Smartphone or any mobile phone that provides Internet access and uses a Windows Mobile based browsers, however, screen appearance may vary from mobile to mobile.

Items marked with an asterisk (*) indicate it is not available on PCU Mobile Banking.

You confirm that you have read our System Requirements.

SECURITY OVERVIEW

We have in place a security system for PCU Internet and Mobile Banking. You need to be familiar with that security system.
Click here for our Security Overview.
You confirm that you have read our Security Overview.

CONDITIONS OF USE

1. Glossary of Terms
1.1 Access codes
Means the password which, with your membership number, gives you access to your accounts through PCU Internet and Mobile Banking.

1.2 Ancillary Equipment
Any equipment as specified by us that you will require to use this service.

1.3 Business day
Means any day in which we are open for the transaction of business.

1.4 MB Code of Practice
Means the Mutual Banking Code of Practice.

1.5 EFT Code of Conduct
Means the Electronic Funds Transfers Code of Conduct issued by the Australian Securities and Investments Commission to operate no later than 1 April, 2002.

1.6 Electronic Access
Unless we stipulate to the contrary when we refer to our electronic address we mean our website www.pcu.com.au.

1.7 PCU Internet and Mobile Banking
The Police Department Employees’ Credit Union Ltd Internet and Mobile Banking service you access with a personal computer or a smartphone by visiting www.pcu.com.au.

1.8 Online Services
Means the services we provide through PCU Internet and Mobile Banking.

1.9 Payment
A payment of funds that you instruct us to make to your Billers through the BPAY Scheme or to a third party via transfer from your membership accounts with us to another account either with us or externally to an account with a bank or other financial institution.

1.10 Third Party Transfer
A transfer to a person, company, organisation or other body corporate other than you.

1.11 Transfer
A transfer of funds that you instruct us to make:

Important notice regarding external transfers: The Financial Institution will rely soley on the BSB and account number when processing an external transfer. The account name does not form part of the internet payment instructions and may not be checked. You may be liable for the loss if the funds are unable to be retrieved from a third party.

1.12 ‘We’, ‘us’, ‘our’, ‘the Credit Union’ or ‘PCU’ means The Police Department Employees’ Credit Union Ltd.

1.13 ‘You’ and ‘your’ includes a reference to any holder of a joint account or any third party authorised by you to access and/or operate your account(s) using these Services, with the intent that you shall be liable for any use of these Services in respect of your account(s) and for any failure on the part of any such third party to observe these Terms and Conditions.

1.14 A reference to Online Services can include PCU Internet and Mobile Banking, Third Party Transfers and/or BPAY.

1.15 ‘Security Token’ refers to a second factor of authentication available subject to the Security Token Terms and Conditions.

1.16 ‘Smartphone’ refers to devices such as, iPhone, iPod or any mobile phone device that provides Internet access and uses a Windows Mobile based browsers, however, screen appearance may vary from mobile to mobile.

2. General Terms and Conditions of Online Services
2.1 Subject to these terms the Online Services of PCU Internet and Mobile Banking include:

2.3 The MB Code of Practice requires us to give you information about the current fees and charges in relation to these Services.

2.4 General descriptive information on the operation of your account/s is available on request.

2.5 The Credit Union will provide you with access to PCU Internet and Mobile Banking using an access code when:-

2.6 You can use PCU Internet and Mobile Banking when your Member Number and correct access code are keyed in.

2.7 PCU Internet and Mobile Banking is not available for transfers from S6, S16 and S66 accounts.

2.8 Subject to the following, access to the transfers via PCU Internet and Mobile Banking is available to all Members.

Restrictions apply to accounts held by members aged less than sixteen (16) years:-

2.9 Internally transferred funds can be accessed by ATM, EFTPOS, or Member Cheque Book facilities immediately after transfer.

2.10 We are not liable to you or any other person for and in connection with your own connection to the internet. You must make your own provisions through a Service Provider.

2.11 We promise that we will comply with the requirements of the EFT Code of Conduct and these Terms and Conditions are to be read in the light of those requirements.

2.12 With every transaction you make through PCU Internet and Mobile Banking, you will be able to retrieve an electronic receipt from us to your ancillary equipment.

2.13 We will provide you with statements of your accounts with us at least every six (6) months, unless you request that we provide you with more frequent statements.

If you want more frequent statements, you need to telephone us on 131 PCU (131 728) and speak to one of our Assistance Centre Operators.

2.14 We and you agree that any information we are required to give you under the EFT Code of Conduct, may be provided to you by:-

2.15 You may terminate this agreement by notice in writing to us at Level 27, 1 Market Street , Sydney NSW 2000, whereupon we shall remove your ability to access your accounts through PCU Internet and Mobile Banking.

3. Access code
3.1 By the time you read these Terms and Conditions you may already have your access code.

3.2 The provision of an access code by us to you does not of itself mean you and we have agreed you can access PCU Internet and Mobile Banking.

3.3 We provide you with your access code to use PCU Internet and Mobile Banking. You agree to protect this access code as a means of preventing the fraudulent or unauthorised use of your accounts via PCU Internet and Mobile Banking.

3.4 When you have received your access code for the first time these Terms and Conditions appear and you will not be able to proceed with access to your accounts with us until you have accepted these Terms and Conditions.

3.5 It is only after acceptance of these Terms and Conditions that you can access PCU Internet and Mobile Banking.

3.6 When you accept the Terms and Conditions you will be required to enter a new access code before accessing PCU Internet and Mobile Banking.

3.7 Your access code must not relate to any readily accessible data such as your name, date of birth, telephone number or names of a friend or relative. Nor must they be an obvious combination of letters and numbers or one that can be easily guessed by someone else.

3.8 The Credit Union reserves the right to cancel any access code at any time. Where appropriate or required by law or the MB Code of Practice we shall give you a notice prior to cancellation, otherwise notice will be given to you after cancellation.

3.9 You may at any time request in writing that we withdraw your access to any/all of these services. You will remain responsible for any transactions made on your account(s) using these services until the request has been received and processed by us.

4. How to keep your access code safe
We would like you to enjoy all the benefits these Online Services have to offer. To guard against unauthorised use, it is important that where you consider you need to write down your access code you:

5. Security Tokens
5.1 Your security token is personal to you and can only be used with your PCU Internet and Mobile Banking access code. It provides an additional level of security for your Internet or Mobile Banking session and can not be shared with anyone else.

5.2 The types of accounts you can access will not change when you activate your security token however once activated you will need to use the security token every time you use PCU Internet and Mobile Banking. You will need to enter the code displayed on the security token at the login screen.

5.3. If you hold more than one Membership you are able to link all of your active Memberships to the same token. To arrange this option please call us on 131 PCU (131 728).

5.4. You must keep your security token safe and secure and advise us immediately on 131 PCU (131 728) if it is lost, stolen or misused. We will deactivate your security token and arrange for a replacement one to be sent to you. A security token replacement fee will apply. Refer to our ‘Schedule of Fees and Charges’ brochure for details.

6. Authorised Person
6.1 We recommend that you not give your access code to any other person.

6.2 Notwithstanding our recommendation if you without our knowledge give your access code to a person and authorise that person to operate PCU Internet and Mobile Banking using your access code then that person is your Authorised Person.

6.3 If you give your access code to your Authorised Person, you will be liable for all transactions carried out by your Authorised Person using PCU Internet and Mobile Banking (see clause 10.2).

6.4 We will not be liable to you for the transactions carried out by your Authorised Person.

6.5 Your Authorised Person’s use of PCU Internet and Mobile Banking is governed by these Terms and Conditions.

6.6 You will be liable for any failure of your Authorised Person to observe these Terms and Conditions.

6.7 For the purposes of this provision we are deemed only to know of your Authorised Person if we have provided you with written confirmation of our knowledge.

Part B. Authorised Signatory (Where you have nominated a person as an authorised signatory who is entitled to access and carry out transactions on your accounts):

6.8 Your Authorised Signatory receives his/her own access code to your accounts through PCU Internet and Mobile Banking. This access code is separate and different from the access code you may have to access your accounts through PCU Internet and Mobile Banking.

6.9 Your Authorised Signatory has access to all of your accounts that are accessible through PCU Internet and Mobile Banking.

6.10. Your Authorised Signatory is entitled to access your accounts and carry out transactions on those accounts through PCU Internet and Mobile Banking using his/her own access code.

6.11 If you wish to terminate your Authorised Signatory’s access to your accounts through PCU Internet and Mobile Banking you need to complete and return to us the approved form which is available at any of our branches or by calling 131 PCU (131 728). We will not be liable for transactions carried out by your Authorised Signatory before we have received the approved form from you terminating your Authorised Signatory’s access to your accounts through PCU Internet and Mobile Banking.

6.12. You are liable for all transactions carried out by your Authorised Signatory using PCU Internet and Mobile Banking .

6.13. We will not be liable to you for the transactions carried out by your Authorised Signatory.

6.14. Your Authorised Signatory’s use of PCU Internet and Mobile Banking is governed by these Terms and Conditions.

6.15. You will be liable for any failure of your Authorised Signatory to observe these Terms and Conditions.

Part C. Joint Memberships/Accounts (Where two or more signatures are required to operate the accounts):
* Not available on PCU Mobile Banking

6.16 For the purposes of this Part C the term ‘you’ means all of the members who together are authorised to operate on the joint account.
* Not available on PCU Mobile Banking

6.17 If you have an account with us that requires two or more signatures then to access your account through PCU Internet and Mobile Banking you will need, when you transact within PCU Internet and Mobile Banking, to provide all your access codes.
* Not available on PCU Mobile Banking

6.18 If we do not receive all your access codes you will not be able to transact on your joint accounts through PCU Internet and Mobile Banking.
* Not available on PCU Mobile Banking

6.19 We recommend that access codes are not given to anyone and that all of you be present to provide your access codes at the time of authorising transactions in PCU Internet and Mobile Banking.

6.20 Notwithstanding our recommendation if a joint account holder provides his/her access code to another joint account holder to then enable that other joint account holder to transact on the joint account through PCU Internet and Mobile Banking then that other joint account holder is a Code Access Authorised Person for the joint account holder who provided their access code and the terms in relation to Code Authorised Persons apply to the joint account holder who provided their access code and their Code Authorised Person (see Part A).
* Not available on PCU Mobile Banking

7. Ancillary Equipment
You have a responsibility to exercise reasonable care to prevent unauthorised access to the Ancillary Equipment you use for PCU Internet and Mobile Banking.

7.1 You must not leave your computer or mobile device unattended while you are online to PCU Internet and Mobile Banking.

7.2 You should ensure that the computer or mobile device is checked for viruses before using PCU Internet and Mobile Banking.

7.3 We suggest you clear your browser cache (session memory) files at the end of your session in order to protect your privacy and prevent anyone from tracing your steps through the cache memory files. Additionally, we suggest that you shut down all the windows of the browser you have used to gain access to PCU Internet and Mobile Banking and then restart the browser in order to ensure that the “back” function (or similar function in your browser) cannot be used to trace your activities.

7.4 If you require assistance in regards to clearing your browser’s cache, we suggest you review your browser Help facility or contact a PC support or maintenance service for instructions on how to complete this process.

7.5 Providing you give us notice by telephoning us on 131 PCU (131 728) and speaking to our Phone Centre Operators, you may change your ancillary equipment, or electronic address

8. What to do if your access code or security token is lost or stolen, or you believe there has been unauthorised access to your access code and/or accounts

You must telephone us and tell us, as soon as possible, on toll free 131 PCU (131 728) if you:-

become aware a record of your access code or your security token has been lost or stolen;
become aware of an unauthorised access to your access code, security token and/or accounts via PCU Internet and Mobile Banking;
become aware of a breach of the security of your ancillary equipment, which may allow access to your access code and/or accounts;
suspect your access code has become known to an unauthorised person.

9. Checking Account Records
9.1 You should check your account records regularly.

9.2 You should check your account records carefully. If you believe a transaction is wrong or unauthorised you must inform us as soon as possible.

9.3 If we find an error in your account we will promptly correct the error, adjust interest and charges to the account and advise you.

9.4 If we do not agree that there is an error, then we will follow the procedure outlined in clause 14.

10. Who pays for transactions on your accounts if there is unauthorised use of your access code?

10.1 Your are not liable for your loss if:

it is clear you have not contributed to your loss; and
the transactions involved were carried out without your knowledge and consent.

10.2 However, where we establish you have contributed to the unauthorised use because you:-

voluntarily disclose your access code to another person; or
write your Membership Number or access code on your record of transactions; or
keep a record of your Membership Number and access code without making any reasonable attempt to disguise them, in a way that they could be lost or stolen at the same time; or
keep a record of your confidential identification details without making any reasonable attempt to disguise them; or
used an access code which represents your birth date; or
act with extreme carelessness in failing to protect the security of your access code; or
have allowed access of your security token to a third party; or
have acted fraudulently.

then you are liable for the lesser of:

the actual losses; or
the amount you are able to withdraw from your account; or
the total amount you would have been allowed to withdraw on the days that the unauthorised use occurred; or
the balance in the account accessed, including if applicable the amount available through easy access overdraft.

10.3 In addition to the liability in clause 10.2 if you contribute to the unauthorised use because you unreasonably delay in

telling us that your access code had been misused, lost or stolen; or
telling us that your access code has become known to an unauthorised person,

then you are liable for any losses that have been incurred because of that delay.

Your liability for these losses will be the lesser of:

the actual losses; or
the amount you are able to withdraw from your account; or
the total amount you would have been allowed to withdraw on the days that the unauthorised use occurred; or
the balance in the account accessed including, if applicable, the amount available through easy access overdraft.

10.4 Where clauses 10.1 to 10.3 inclusive and 10.5 do not apply, you are liable for the lesser of:-

$150.00; or
the balance in the account accessed including, if applicable, the amount available through easy access overdraft; or
the actual loss at the time we are notified of the loss, theft and/or misuse.

10.5 You are not liable where:-

the losses are caused by the fraudulent or negligent conduct of our employees;
the losses relate to any component of PCU Internet and Mobile Banking that is forged, faulty, expired or cancelled;
the losses arise before we provide you with an access code or security token;
the losses are caused by the same transaction being incorrectly debited more than once to the same account;
the unauthorised use takes place after you tell us that your access code or security token has been misused, lost or stolen or has become available to an unauthorised person.

11. What happens when you use these Online Services?
11.1 These Online Services are available for the enquiries and transactions specified by us from time to time.

11.2 You will only be able to use these Online Services to access accounts when you are:

the account holder and sole signatory, or
authorised to act alone where there is more than one signatory.

11.3 Transactions made through electronic services may be processed at our option on the same day as the transaction or the next available working day.

11.4 You can also Schedule a Payment, Transfer or Third Party Transfer. In those cases, the request is treated as having been made on the day or days nominated by you for the Payment, Transfer or Third Party Transfer to be made. If any such day is a weekend or public holiday, the Payment, Transfer or Third Party Transfer will be treated as having been made on the next business day.

Once you have instructed us to make a Scheduled Payment or Transfer, you can countermand this instruction in advance of the due date for Payment or Transfer. Any such countermand must be received before the day the Schedule is due, and must be made using your access code.
* Countermand not available on PCU Mobile Banking

Otherwise, we will process the Payment, Transfer or Third Party Transfer as originally instructed by you.

11.5 Transactions made using these Online Services are also governed by the Terms and Conditions of the accounts being used and these Terms and Conditions do not affect the Terms and Conditions applying to those various accounts. In the event of a conflict between these Terms and Conditions and the Terms and Conditions of the relevant account, the Terms and Conditions which apply to the relevant account will prevail.

11.6 Subject to the MB Code of Practice we reserve the right to decline any transactions without being required to give any reason or advance notice to you.

11.7 We will take such reasonable precautions as may be necessary to ensure that information concerning your accounts transmitted by us through these services will remain confidential and protected from unauthorised access.

11.8 We will be liable for loss caused by the failure of our system and/or equipment to complete a transaction accepted by our system and/or equipment, in accordance with your instructions.

12. What should you do if these Online Services are not available?

12.1 It is your responsibility to use other means of effecting transactions and obtaining information if for any reason you are unable to use these Online Services.

12.2 If you find PCU Internet and Mobile Banking is temporarily unavailable call us on 131 PCU (131 728).

12.3 We undertake to make all reasonable efforts to ensure that the Online Services are available to you during the hours specified by us from time to time.

13. When are we not liable?
13.1 In addition to any other provision in these terms and conditions, we will not be liable for:-

delays or errors in the execution of any transactions because of your ancillary equipment;
the supply and maintenance of any equipment necessary to access these Online Services (eg. personal computer and modem);
any mistakes made by you for any transaction made to an account where the BSB and account number information is valid. The account name does not form part of the internet payment instructions and may not be checked. (Please refer to 1.11 Transfer)
any refusal of another party, third party or otherwise authorised to receive a payment instruction from you; or
any indirect, economic or consequential loss suffered or sustained by you as a consequence of your use of PCU Internet and Mobile Banking or the availability of these Online Services where you should have been aware that PCU Internet and Mobile Banking was unavailable for use and/or our equipment was malfunctioning.

14. What should you do if you think we have made a mistake?
14.1 Contact us as soon as possible if you think:
there has been a mistake in a transaction made through these Services; or
information received through these Services is wrong.

When you contact us, you will need to provide us with:-

your name, member number and account number;
the date and amount of the transaction in question;
the date of the statement in which the transaction in question first appeared;
a brief and clear explanation of why you believe the transaction is unauthorised or an error.

14.2 If we dispute your claim but are unable to resolve the dispute immediately, we will indicate to you by letter the procedure we will follow to investigate and handle the complaint.

Generally:-
we will report to you within ten (10) business days of receiving your complaint, either advising you of the outcome of our investigation, or the need for more time to complete the investigation;
unless there are exceptional circumstances an investigation should be completed within thirty (30) business days of receiving your complaint.

14.3 If we find an error in your account, we will promptly correct the error, adjust interest and charges to the account accordingly and advise you.

14.4 If we conclude from our investigations that no error has occurred, you may ask us to:-

review our investigation;
give you a copy of the material on which we based our decision. (We cannot give you material which may breach a confidence, legal duty or obligation or which may adversely affect security.)

14.5 If you are not satisfied with our answer, we will direct you to our internal dispute resolution officer to resolve the matter.

14.6 If our internal dispute resolution officer is not able to resolve the matter to your satisfaction then that officer may refer you to the Financial Ombudsman Services Limited (FOS).

14.7 As far as we are aware the FOS will only accept a matter after you have tried to resolve it with our internal dispute resolution officer.

15. Can we change these Conditions?
15.1 We reserve the right to vary these Terms and Conditions.

15.2 We will give you at least 30 days written notice if any variation will:

impose or increase charges relating to your use of these Online Services;
increase your liability for losses relating to transactions through these Online Services;
adjust the transaction limits applying to your use of these Online Services; or
indicate that your Services or delivery systems for these Online Services is to be discontinued or withdrawn.

15.3 We will tell you of all other variations in advance through these Online Services or notices.

15.4 Our obligation to give you advance notice does not apply if variations are required in an emergency to restore or maintain the security of these Online Services of any individual account held.

15.5 Our obligation to give you advance notice does not apply if variations are required for security reasons.

15.6 We fulfil our obligations to give you notice under these Terms and Conditions if we post the notice by ordinary mail to the last address you gave us.

15.7 We reserve the right to vary the types of services offered on these Online Services.

16. Can we add further services?
16.1 We reserve the right to provide additional services.

16.2 In the event of conflict between the Terms and Conditions of these Online Services and the Terms and Conditions of a product yet to be offered by these Online Services, the Terms and Conditions of the relevant product will prevail.

17. BPAY
You can use the BPAY system through PCU Internet and Mobile Banking.
We have specific Terms and Conditions that relate to you using PCU Internet and Mobile Banking to make BPAY payments from your accounts.
If you propose using PCU Internet and Mobile Banking to make BPAY payments, then you need to read our BPAY Terms and Conditions.
When using BPAY through PCU Internet and Mobile Banking, these PCU Internet and Mobile Banking Terms and Conditions apply to your use of BPAY.
Click here for our BPAY Terms and Conditions.
You confirm that you have read our BPAY Terms and Conditions.

18. Conditions Binding
18.1 You accept these Terms and Conditions by using the Access code. In turn, we undertake to keep to these Terms and Conditions once you have used your Access code.

REMINDERS AND IMPORTANT POINTS

Where you are gaining access to PCU Internet and Mobile Banking system for the first time by accepting these Terms and Conditions, you are telling us that you have read, understood and accepted these Terms and Conditions in particular:-

1. Our privacy statement to you – see Privacy Statement;

2. The security in our PCU Internet and Mobile Banking system – see Security Overview;

3. Access to credit facility – see clause 2.1;

4. Limits on your access to PCU Internet and Mobile Banking system & accounts – see clauses 2.5 and 2.8;

5. Statement frequency election – see clause 2.13;

6. EFT Code of Conduct Agreement – see clause 2.14;

7. Termination of this agreement by you – see clause 2.15;

8. Access code – see clauses 3.1 to 3.10;

9. How to keep your Access code safe – see clause 4;

10. Authorised Access – see clause 6;

11. Change of equipment – see clause 7.5;

12. Access code is lost or stolen – see clause 8;

13. Unauthorised use of your access code – see clauses 10.1 to 10.5;

14. Using these online services – see clauses 11.1 to 11.8;

15. If you think we have made a mistake? see clauses 14.1 to 14.7;

16. Bill payment (BPAY) scheme – see BPAY conditions;

17. BPAY transaction limits – see BPAY conditions;

18. Refusing BPAY payment directions – see BPAY conditions;

19. Your liability for BPAY payments – see BPAY conditions;

20. Our liability in respect of BPAY – see BPAY conditions;

21. Cancellation of BPAY access – see BPAY conditions;

If you are looking at these Terms and Conditions and it is not at a time when you are gaining access to PCU Internet and Mobile Banking for the first time we advise you that these are the Terms and Conditions that relate to your use or intended use of PCU Internet and Mobile Banking and you need to read and understand these Terms and Conditions prior to using PCU Internet and Mobile Banking.
We recommend you make a hard copy of these Terms and Conditions.