LEGAL DOCUMENTATION

Summary of Changes to the About Our Financial Institution Partners page - June 18, 2025
We are updating the About Our Financial Institution Partners page, which applies to your use of the Dwolla Account, Dwolla-Enabled Services and/or Dwolla Platform. The following provides a summary of the changes to the About Our Financial Institution Partners page. To see all of the changes, please read the full About Our Financial Institution Partners page.

1. Under the header, we’ve added a Last Updated date of June 18, 2025.
2. We added new Section 3 to add a reference to KeyBank National Association, Member FDIC.

About Our Financial Institution Partners

Financial institutions play an important role in our network. Dwolla operates a software platform that sends your payment instructions to our financial institution partners. Any funds transferred using the Dwolla Platform are transferred by one or more of our financial institution partners, depending on the method of payment. Currently, our financial institution partners are:

1. Veridian Credit Union. Dwolla, Inc. is an agent of Veridian Credit Union. Your Dwolla Balance, if any, is held in one or more pooled holding accounts held by Veridian Credit Union. In addition, Real-Time Payments are performed by Veridian Credit Union, which holds funds on behalf of Recipients of such transactions in one or more pooled holding accounts held by Veridian Credit Union. Veridian Credit Union also holds funds in the Dwolla Balance that have been assigned a Virtual Account Number.  These funds may not be eligible for share insurance by the National Credit Union Share Insurance Fund. All Dwolla clients and their customers are customers of Veridian Credit Union, which provides ACH, Real-Time Payments, the Virtual Account Number feature, and Wire transfers to Dwolla users.
2. Evolve Bank & Trust. Evolve provides ACH and Wire transfer services and holds funds in a Dwolla Balance that has been assigned a Virtual Account Number with Evolve. Dwolla clients who use our Virtual Account Number feature with Evolve and their customers are customers of Evolve Bank & Trust. All Evolve accounts are subject to the applicable Demand Deposit Account Agreement.
3. KeyBank National Association, Member FDIC. KeyBank, N.A., Member FDIC, provides ACH transfer services to Dwolla users. Dwolla client and customer funds at KeyBank, N.A., Member FDIC, are held in a Dwolla Balance. Your Dwolla Balance at KeyBank, N.A., Member FDIC, if any, is held in a subaccount of a for benefit of account. Dwolla clients and their customers who have a Dwolla Balance at KeyBank, N.A., Member FDIC, are customers of KeyBank. Dwolla is a financial technology company, not an FDIC insured bank. FDIC insurance protects against the failure of an FDIC insured bank, but does not protect against the failure of Dwolla or any losses due to fraud or theft.