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This Business Membership and Account Agreement ("Agreement") covers the responsibilities concerning accounts owned by a
business or organization account owner ("Account Owner") and the credit union providing this agreement ("Credit Union"). In this
Agreement, the words "you" and "yours" mean the Account Owner and each person signing an Account Card ("Account Card").The
words "we," "us," and "our" mean the Credit Union. The word "account" means any one or more share or other accounts you have
with the Credit Union.
1. Agreement. Your account type(s) is(are) designated on your Account Card. Your account shall be held as a single/individual
account in the name of the Account Owner. By signing an Account Card, you agree to the terms and conditions in this Agreement
and Account Card, the Funds Availability Policy Disclosure, Rate Sheets, Fee Schedules, any Account Receipt, the Credit Union's
Bylaws and policies, any amendments to these documents from time to time which collectively govern your membership and
accounts, all applicable present and future federal and state laws and regulations, local banking customs, and the rules of any
clearing house association with whom we may deal. The word "bylaws" means the Bylaws or the Code of Regulations of the Credit
2. Membership Eligibility. To join the Credit Union the Account Owner must meet the membership requirements including, if
applicable, the purchase and maintenance of the minimum required share(s) ("membership share"), as set forth in the Credit Union's
Bylaws or established from time to time by the Credit Union's Board of Directors. You authorize us to check your account, credit and
employment history, and obtain reports from third parties, including credit reporting agencies, to verify your eligibility for the
accounts and services you request.
3. Account Access.
a. Authorized Persons. The following are persons authorized ("Authorized Person(s)") to establish and act on behalf of the Account
Owner with respect to accounts held at the Credit Union.
- If the Account Owner is a sole proprietorship, the business owner and any person designated by the business owner;
- If the Account Owner is a partnership, each partner (or general partner in the case of a limited partnership) and any person
designated by the partners;
- If the Account Owner has any other form of organization or is an unincorporated organization or association, the individuals
vested with the power to make decisions concerning the operation of the Account must designate the persons authorized to
establish accounts at the Credit Union and transact business on such accounts on behalf of the Account Owner.
b. Authority. Authorized Persons are vested with authority to open and close accounts on behalf of the Account Owner, and
transact any business of any nature on such accounts including but not limited to the following:
- Depositing, withdrawing and transferring funds into, out of and between one or more account;
- Signing drafts, checks and other orders for payment or withdrawal;
- Issuing instructions regarding orders for payment or withdrawal;
- Endorsing any check, draft, share certificate and other instrument or order for payment owned or held by the Account Owner;
- Receiving information of any nature about the account.
We have no obligation to inquire as to the use of any funds or the purpose of any transaction made on your account by an
Authorized Person and are not responsible for any unauthorized transaction by an Authorized Person.
We will not be liable for refusing to honor any item or instruction if we believe the signature is not genuine. It is your responsibility to
provide us with specimen signatures of all Authorized Persons and to inform us immediately in writing of any changes. We may
recognize the signature of any one (1) authorized signer so designated on the Business Account Signature Card that you provided to
us a authorized to transact business on that account. You agree that any instruction to permit withdrawal only upon the signature of
two (2) or more authorized signers or agents is for your internal use and benefit only and will not be binding on us. You agree that
we shall not be liable for any lack of signatures so long as the instructions contain the signature or have been authorized by at least
one (1) Authorized Signer. If you have authorized the use of a facsimile signature of any Authorized Person, we may honor any
document that appears to bear such a facsimile signature.
c. Access Options. You may withdraw or transfer funds from your account in any manner we permit (e.g., in person or by
automated teller machine, point of sale device, automatic transfer or other available electronic means, mail or telephone). Authorized
Persons may execute additional agreements and documents we require to access, transact business on and otherwise exercise
authority over your account. If you have not ordered credit union checks through our approved check vendors, you understand and
agree that we are not responsible for the quality of any check copy that you request from us. In addition, we are not responsible for
any checks not paid as a result of quality or printing errors.
d. Credit Union Examination. We may disregard information on any draft or check, other than the signature of the drawer, the
amount and any magnetic encoding. You agree we do not fail to exercise ordinary care in paying an item solely because our
procedures do not provide for sight examination of items.
4. Deposit of Funds Requirements. Funds may be deposited to accounts, in any manner approved by the Credit Union in accordance
with the requirements set forth on our rate sheet(s) and fee schedule(s) applicable to business accounts. We have the right to refuse
any deposit, limit the amount that may be offered for deposit, and return all or any part of a deposit. Deposits made by mail, at night
depositories or at unstaffed facilities are not our responsibility until we receive them.
a. Endorsements. We may accept transfers, checks, drafts, and other items for deposit into any of your accounts if they are made
payable to, or to the order of the Account Owner even if they are not endorsed. If a check, draft or other item that is payable to two
or more persons is ambiguous as to whether it is payable to either or both, we may process the check, draft or item as though it is
payable to either person. If an insurance, government, or other check or draft requires an endorsement as set forth on the back of
CUNA Mutual Group 2004, 08, 09, 11, All Rights Reserved
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the check or draft, we may require endorsement as set forth on the item. We may, but are not required, to accept for cash or other
value checks, drafts, or items made payable to the Account Owner provided such items are endorsed with an original or facsimile
signature of the required number of Authorized Persons. Endorsements must be made on the back of the share draft or check within
inches from the top edge, although we may accept endorsements outside this space. However, any loss we incur from a delay
or processing error resulting from an irregular endorsement or other markings by you or any prior endorser will be your responsibility.
b. Collection of Items. We act only as your agent and we are not responsible for handling items for deposit or collection beyond the
exercise of ordinary care. Deposits made by mail or at unstaffed facilities are not our responsibility until we receive them. We are not
liable for the negligence of any correspondent or for loss in transit, and each correspondent will only be liable for its own negligence.
We may send any item for collection. Items drawn on an institution located outside the United States are handled on a collection
basis only. You waive any notice of nonpayment, dishonor, or protest regarding items we purchase or receive for credit or collection
to your account. We reserve the right to pursue collection of previously dishonored items at any time, including giving a payor
financial institution extra time beyond any midnight deadline limits.
c. Restrictive Legends. Some checks and drafts contain restrictive legends or similar limitations on the front of the item. Examples
of restrictive legends include "two signatures required," "void after 60 days," and "not valid over $500.00." We are not liable for
payment of any check or draft contrary to a restrictive legend or other limitation contained in or on the item unless we have
specifically agreed in writing to the restriction or limitation.
d. Final Payment. All items credited to your account are provisional until we receive final payment. If final payment is not received,
we may charge your account for the amount of such items and impose a return item charge on your account. Any collection fees we
incur may be charged to your account. We reserve the right to refuse or return any item or funds transfer.
e. Direct Deposits. We may offer preauthorized deposits (e.g., payroll checks, Social Security or retirement checks, or other
government checks) or preauthorized transfers from other accounts. If we are required to reimburse the government agency for any
benefit payment directly deposited into your account, we may deduct the amount returned from any of your accounts, unless
prohibited by law. If your account is overdrawn, you authorize us to deduct the amount your account is overdrawn from any deposit,
including deposits of government payments or benefits.
f. Crediting of Deposits. Deposits made after the deposit cutoff time and deposits made on either holidays or days that are not our
business days will be credited to your account on the next business day.
5. Electronic Funds Transfers.
a. Uniform Commercial Code Article 4A and Other Agreements. Except as amended by this Agreement, electronic funds transfers
we permit that are subject to Article 4A of Uniform Commercial Code will be subject to such provisions of the Uniform Commercial
Code as enacted by the state where the main office of the Credit Union is located. You may be provided with a separate document
providing details about certain types of electronic funds transfer transactions available on your account. Any provisions in such
documents purporting to limit your liability for unauthorized transactions, imposing liability on us for failing to stop a preauthorized
electronic funds payment and imposing duties on us in the case of billing errors are not applicable to your account.
b. Fedwire Transactions. We may execute certain requests for electronic funds transfers by Fedwire. Fedwire transactions are
subject to Federal Reserve Board Regulation J.
c. Authorization for Transfers/Debiting of Accounts. Any Authorized Person is authorized to make or order electronic funds
transfers to or from your account. We will debit your account for the amount of an electronic funds transfer and will charge your
account for any fees related to the transfer.
d. Right to Refuse to Make Transfer/Limitation of Liability. Unless we agree otherwise in writing, we reserve the right to refuse to
execute any order to transfer funds to or from your account. We are not obligated to execute any order to transfer funds out of your
account if the amount of the requested transfer plus applicable fees exceeds the available funds in your account. We are not liable
for errors, delays, interruptions or transmission failures caused by third parties or circumstances beyond our control including
mechanical, electronic or equipment failure.
e. No Notice Required. We will not provide you with next day notice of ACH, wire transfers and other electronic payments credited
to your account. You will receive notice of such credits on your account statements. You may contact us to determine whether a
payment has been received.
f. Interest Payments. If we become obligated under Article 4A (Division II of the California Uniform Commercial Code) to pay
interest to you. We agree that the rate of interest to be paid shall be equal to the dividend rate, on a daily basis, applicable to the
account with us to which the funds transfer should have been made or from which the funds transfer was made.
g. Provisional Credit for ACH Transactions. We may provisionally credit your account for an ACH transfer before we receive final
settlement. If we do not receive final settlement, we may reverse the provisional credit or require you to refund us the amount
provisionally credited to your account.
h. Payment Order Processing and Cut-off Times. Payment orders we accept will be executed within a reasonable time of receipt.
Unless we have agreed otherwise in writing, a payment order may not necessarily be executed on the date it is received or on a
particular date you specify. Cut-off times may apply to the receipt, execution and processing of funds transfers, payment orders,
cancellations, and amendments. Funds transfers, payment orders, cancellations, and amendments received after a cut-off time may
be treated as having been received on the next following funds transfer business day. Information about any cut-off times is available
upon request. From time to time, we may need to temporarily suspend processing of a transaction for greater scrutiny of verification
in accordance with applicable law. This action may affect settlement or availability of the transaction.
i. Identifying Information. When you initiate a wire transfer, you may identify the recipient and any financial institution by name and
by account or identifying number. The Credit Union and any other financial institutions facilitating the transfer may rely strictly on the
account or other identifying number even if the number identifies a different person or financial institution.
j. Amendments and Cancellations of Payment Orders. Any Authorized Person may amend or cancel a payment order regardless of
whether that person initiated the order. We may refuse requests to amend or cancel a payment order that we believe will expose the
Credit Union to liability or loss. Any request to amend or cancel a payment order that we accept will be processed within a
reasonable time after it is received. You agree to hold us harmless from and indemnify us for all losses and expenses resulting from
any actual or attempted amendment or cancellation of a payment order.
k. Security Procedures. We may require you to follow a security procedure to execute a payment order or certain electronic funds
transfer transactions. We will notify you of any such security procedures. Unless we permit you to establish a different security
procedure, you agree that the security procedures contained in the Credit Union's policies are commercially reasonable verification of
payment orders and other electronic funds transfers. If we permit you to establish a different security procedure, you agree that
procedure is a commercially reasonable method of verifying electronic funds transfers.
6. Account Rates and Fees. We pay account earnings and assess fees against your account as set forth in our business account
rate sheet(s) and fee schedule(s). We may change our rate sheet(s) and fee schedule(s) at any time and will notify you as required by
7. Transaction Limitations.
a. Withdrawal Restrictions. We reserve the right to restrict withdrawals or transfers from your account and shall not be liable for
any restrictive action we take regarding i) withdrawals or transfers; or ii) payments or non-payments of a share draft, except for
those damages which may arise solely as a result of the Credit Union's negligence.
We permit withdrawals only if your account has sufficient available funds to cover the full amount of the withdrawal or you have an
established overdraft protection plan. Drafts or other transfers or payment orders which are drawn against insufficient funds may be
subject to a service charge as set forth in our business account rate sheet(s) and fee schedule(s). If there are sufficient funds to
cover some, but not all, of your withdrawal, we may allow those withdrawals for which there are sufficient funds.
We may limit or refuse a withdrawal in some situations, and will advise you accordingly; for example: (1) a dispute between Account
Owners (unless a court has ordered the Credit Union to allow the withdrawal); (2) a legal garnishment or attachment is served; (3)
the account secures any obligation to us; (4) required documentation has not been presented; (5) you fail to repay a Credit Union
loan on time; (6) if (non-corporate account) a depositor is deceased or (corporate account) the corporation is in bankruptcy
proceedings or has been dissolved and the required disposition of the account has not been made; (7) someone with authority to do
so requests us not to permit the withdrawal; or (8) there are other circumstances which do not permit us to make the withdrawal.
We also reserve the right to refuse any withdrawal which is attempted by any method not specifically permitted by us. However, we
do reserve the right to, at any time, require not less than seven (7) days notice in writing before each withdrawal from and
interest-bearing account other than a time deposit, or from any other savings account defined by Regulation D.
b. Transfer Limitations. For accounts in which transfer limitations apply, during any month you may not make more than six (6)
withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized or automatic
transfer, by telephone order or instruction, or by check, draft, debit card, if applicable, or similar order. A preauthorized transfer
includes any arrangement with us to pay a third party from your account upon oral or written orders including orders received
through the automated clearinghouse ("ACH"). When a transfer exceeds these limitations we may refuse or reverse it, we may
assess fees against your account, and we may suspend or close your account and transfer the balance to an account without such
transfer limitations. There is no limit on the number of transfers you may make to a Credit Union loan account. There is no limit on
the number of withdrawals you may make if the withdrawal is made in person, by mail, messenger or at an ATM. There is also, no
limit on the number of telephone requests for withdrawals in the form of a check, which is then mailed directly to you, although we
may impose a fee for such services.
8. Certificate Accounts. Any time deposit, term share, share certificate, or certificate of deposit account allowed by state law
("Certificate Account"), whichever we offer, is subject to the terms of this Agreement, our business account rate sheet(s) and fee
schedule(s), the Account Deposit Receipt(s), if provided, and any other documents we provide for the account, the terms of which
are incorporated herein by reference.
9. Overdrafts and Dishonored Items.
a. Overdrafts. If on any day the available funds in your account are not sufficient to pay checks, drafts, fees, returned items and
other items posted to your account, those amounts will be subject to our overdraft procedures or an overdraft protection plan you
have established for your account. We are not required to pay any item that will exceed the available balance for your account or
that will cause the approved credit limit on an overdraft protection plan to be exceeded. The available balance for your account is
determined according to our funds availability policy. Whether the balance in your account is sufficient to pay an item may be
determined at any time between presentation of the item and our midnight deadline with only one review of the account required.
Items drawn on your account may be paid in any order we choose. We may return any item and are not required to notify you if your
account or overdraft credit limit does not contain sufficient funds to pay the item. However, we may, at our discretion pay items
that overdraw your account. By paying an item drawn on insufficient funds we do not agree to pay such items in the future. We may
charge fees to your account, as set forth in our business account rate sheet(s) and fee schedule(s), for items drawn on insufficient
funds regardless of whether we pay the item or return it. If we pay an item, impose a fee or post an item that overdraws your
account, you must repay the amount according to requirements of our overdraft policy.
b. Dishonored Items. We may redeposit items taken for deposit, cash or other value, or we may return the item to you and charge
your account. If your account does not contain sufficient funds to reimburse us for the amount of the item, you must repay us for
the amount we are unable to collect from your account. If we choose to redeposit an item, we are not required to notify you that the
item was returned unpaid. We may charge your account and/or seek recovery directly from you for any item that is returned due to
your breach of warranty under the Uniform Commercial Code as adopted in the state where our main office is located.
10. Checks Presented for Payment in Person. We may refuse to accept any draft drawn on your account that is presented for
payment in person. Such refusal shall not constitute a wrongful dishonor of the draft and we shall have no liability for refusing
payment. If we agree to cash a check that is presented for payment in person, we may require the presenter to pay a fee. Any
applicable check cashing fees are stated in the fee schedule(s) applicable to business accounts.
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11. Postdated and Staledated Drafts. You agree not to draw or issue any draft that is postdated. If you do draw or issue a draft
that is payable on a future date, we shall have no liability if we pay the draft before its payment date. You agree not to deposit
drafts, checks, or other items before they are properly payable. We are under no obligation to pay a draft/check drawn on your
account that is presented more than six (6) months after the date it was written. If, however, the draft/check is paid against your
account, the Credit Union shall have no liability for such payment.
12. Foreign Currency. All drafts drawn on your account shall be payable in currency of the United States of America. You agree not
to draw a draft payable in any foreign currency. If you give us an order to pay the draft in foreign currency, we shall have the right to
return the draft unpaid. If, however, we should pay the draft we shall not be responsible for the currency conversion and any fees
assessed for collection, and you shall be bound by our determination of the currency conversion rate and the data and manner in
which we make the conversion.
13. Stop Payment Orders.
a. Stop Payment Order Request. Any Authorized Person may request a stop payment order on any draft drawn on your account. To
be binding an order must be dated, signed, and describe the account and draft number and the exact amount. The stop payment will
be effective if the Credit Union receives the order within a reasonable time for the Credit Union to act upon the order and you state
the number of the account, number of the draft, and its exact amount. You understand that the exact information is necessary for
the Credit Union's computer to identify the draft. If you give us incorrect or incomplete information, we will not be responsible for
failing to stop payment on the draft. If the stop payment order is not received in time for us to act upon the order, we will not be
liable to you or to any other party for payment of the draft. If we recredit your account after paying a draft over a valid and timely
stop payment order, you agree to sign a statement describing the dispute with the payee, to transfer to us all of your rights against
the payee or other holders of the draft and to assist us in any legal action.
b. Duration of Order. You may make an oral stop payment order which will lapse within fourteen (14) calendar days unless
confirmed in writing within that time. A written stop payment order is effective for six (6) months and may be renewed in writing
from time to time. We do not have to notify you when a stop payment order expires.
c. Liability. Fees for stop payment orders are set forth on our fee schedule(s). You may not stop payment on any certified check,
cashier's check, teller's check, or any other check, draft, or payment guaranteed by us. Although payment of an item may be
stopped, you may remain liable to any item holder, including us. You have the burden of establishing the fact and amount of loss
resulting from the payment of an item contrary to a binding stop payment order. You agree to indemnify and hold the Credit Union
harmless from all costs, including attorney's fees, damages or claims related to our refusing payment of an item, including claims of
any Account Owner, payee, or indorsee in failing to stop payment of an item as a result of incorrect information provided by you.
14. Credit Union Liability. If we do not properly complete a transaction according to this Agreement, we will be liable for your losses
or damages not to exceed the amount of the transaction, except as otherwise provided by law or elsewhere in this Agreement. We
will not be liable if: (1) your account contains insufficient funds for the transaction; (2) circumstances beyond our control prevent the
transaction; (3) your loss is caused by your or another financial institution's negligence; or (4) your account funds are subject to legal
process or other claim. We are not liable if drafts or other items were forged or altered so that the forgery or alteration could not be
reasonably detected. We will not be liable for consequential damages, except liability for wrongful dishonor. We are not responsible
even though a draft is paid by us if we acted in a commercially reasonable manner and exercised ordinary care. We exercise ordinary
care if our actions or nonactions are consistent with applicable state law, federal reserve regulations and operating letters,
clearinghouse rules, and general banking practices followed in the area we serve. You grant us the right, in making payments of
deposited funds, to rely exclusively on the form of the account and the terms of this Agreement. Any conflict between what you or
our employees may say or write will be resolved by reference to this Agreement.
15. Unauthorized Use of Check Writing and Facsimile Signature Equipment. You are responsible for maintaining the security of all
facsimile signatures, check writing equipment, and supplies. You must promptly notify us in writing of any checks that have been
lost or stolen or the unauthorized use of facsimile signature equipment and the circumstances surrounding the loss, theft or
unauthorized use. We are not liable for any unauthorized use of such facsimile signature.
16. Pledge of Shares/Statutory Lien. Unless prohibited by law, you pledge and grant as security for all obligations you may have
now or in the future, except obligations secured by your principal residence, all shares and dividends and, all deposits and interest, if
any, in all accounts you have with us now and in the future. If you pledge a specific dollar amount in your account for a loan, we
will freeze the funds in your account(s) to the extent of the outstanding balance of the loan or, if greater, the amount of the pledge
if the loan is a revolving loan. Otherwise, funds in your pledged account(s) may be withdrawn unless you are in default. Federal or
state law, depending on whether we have a federal or state charter, gives us a lien on all shares and dividends and all deposits and
interest, if any, in accounts you have with us now and in the future. Except as limited by state or federal law, the statutory lien gives
us the right to apply the balance of all your accounts to any obligation on which you are in default. After you are in default, we may
exercise our statutory lien rights without further notice to you. Your pledge and our statutory lien rights will allow us to apply the
funds in your account to what you owe when you are in default, except as limited by state or federal law. If we do not apply the
funds in your account(s) to satisfy your obligation, we may place an administrative freeze on your account(s) in order to protect our
statutory lien rights and may apply the funds in your account(s) to the amount you owe us at a later time. The statutory lien and
your pledge does not apply to any Individual Retirement Account or any other account that would lose special tax treatment under
state or federal law if given as security. By not enforcing our right to apply funds in your account to your obligations that are in
default, we do not waive our right to enforce these rights at a later time.
17. Transfer of Account. All accounts are nonassignable and nontransferable to third parties except by us.
18. Legal Process. If any legal action is brought against your account, we may pay out funds according to the terms of the action or
refuse any payout until the dispute is resolved. Any expenses or attorney's fees we incur responding to legal process may be
charged against your account without notice, unless prohibited by law. Any legal process against your account is subject to our lien
and security interest.
19. Account Information. Upon request, we will give you the name and address of each agency from which we obtain a credit report
regarding your account. We agree not to disclose account information to third parties except when: (1) it is necessary to complete a
transaction; (2) the third party seeks to verify the existence or condition of your account in accordance with applicable law; (3) such
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disclosure is made to comply with the law or an order issued by a court or government agency; or (4) you give us written
permission. We may provide information to credit bureaus about an insolvency, delinquency, late payment or default on your account
to include in your credit report.
20. Notices.
a. Name or Address Changes. You are responsible for promptly notifying us of any address or name change. The Credit Union is
only required to attempt to communicate with you at the most recent address you have provided to us. We may, if we choose,
accept oral notices of a change in address and may require any other notice from you to us be provided in writing. If we attempt to
locate you, we may impose a service fee as set forth on our business account fee schedule(s).
b. Notice of Amendments. Except as prohibited by applicable law, we may at any time change the terms of this Agreement. We will
notify you of any changes in terms, rates, or fees as required by law.
c. Effect of Notice. Any written notice you give us is effective when we receive it. Any written notice we give to you is effective
when it is deposited in the U.S. Mail, postage prepaid and addressed to you at your statement mailing address and will be effective
whether or not received by you.
d. Electronic Notices. If you have agreed to receive notices electronically we may send you notices electronically and discontinue
mailing paper notices to you until you notify us that you wish to reinstate receiving paper notices.
21. Taxpayer Identification Numbers and Backup Withholding. You agree that we may withhold taxes from any dividends or interest
earned on your account as required by federal, state or local law or regulations. Your failure to furnish a correct Taxpayer
Identification Number ("TIN") or meet other requirements may result in backup withholding. If your account is subject to backup
withholding, we must withhold and pay to the Internal Revenue Service ("IRS") a percentage of dividends, interest, and certain other
payments. If you fail to provide your TIN within a reasonable time we will close your account and return the balance to you, less any
applicable service fees.
22. Statements.
a. Contents. If we provide a periodic statement for your account, you will receive a periodic statement of transactions and activity
on your account during the statement period as required by applicable law. For share draft or checking accounts, you understand and
agree that your original draft, when paid, becomes property of the Credit Union and may not be returned to you, but copies may be
retained by us or payable through financial institutions and made available upon your request. You also understand and agree that
drafts or copies thereof are made available to you on the date the statement is made available to you, even if the drafts do not
accompany the statement.
b. Examination. You are responsible for promptly examining each statement upon receiving it and reporting any irregularities to us.
If you fail to report any irregularities such as forged, altered, unauthorized, unsigned, or otherwise fraudulent items drawn on your
account, erroneous payments or transactions, or other discrepancies reflected on your statement within a reasonable time of
receiving your statement, we will not be responsible for your loss. In addition, we will not be responsible for any such items,
payments, transactions, or other discrepancies reflected on your statement if you fail to notify us within sixty (60) days of the
mailing date of the statement. We also will not be liable for any items that are forged or altered in a manner not detectable by a
reasonable person, including the unauthorized use of a facsimile signature machine.
c. Notice to the Credit Union. You agree that the Credit Union's retention of drafts does not alter or waive your responsibility to
examine your statements or the time limit for notifying us of any errors. The statement will be considered correct for all purposes
and we will not be liable for any payment made or charge to your account unless you notify us in writing within the above time limit
for notifying us of any errors. The notice must specifically describe the transaction, include photocopies or other images of the
relevant items, if returned to you, and:
- Your account number
- The dollar amount
- Our transaction reference, if any.
d. Address. If we mail you a statement, we will send it to the last known address shown on our records. If you have requested that
we send your statement electronically, we will make it available via on-line banking.
23. Inactive Accounts. If your account falls below any applicable minimum balance and you have not made any transactions over a
period specified in our rate sheet(s) and fee schedule(s) during which we have been unable to contact you by regular mail, we may
classify your account as inactive or dormant. Unless prohibited by applicable law, we may charge a service fee as set forth on our
rate sheet(s) and fee schedule(s) for processing your inactive account. If we impose a fee, we will notify you, as required by law, at
your last known address. You authorize us to transfer funds from another account of yours to cover any service fees, if applicable.
To the extent allowed by law, we reserve the right to transfer all funds in an inactive or dormant account to an account payable and
to suspend any further account statements. If a deposit or withdrawal has not been made on the account and we have had no other
sufficient contact with you within the period specified by state law, the account will be presumed to be abandoned. Funds in
abandoned accounts will be reported and remitted in accordance with state law. Once funds have been turned over to the state, we
have no further liability to you for such funds and if you choose to reclaim such funds, you must apply to the appropriate state
24. Termination of Share. We may terminate your account at any time without prior notice to you or may require you to close your
account and apply for a new account. We are not responsible for payment of any draft, transfer or item after your account is
terminated; however, if we pay a draft, transfer or other item after termination, you agree to reimburse us for the amount of our
payment as well as any applicable fees.
You may terminate this Agreement by closing all your accounts. If your account is a dividend or interest-bearing account, any
deposit or part of a deposit that we have returned or attempted to return to you upon termination of your account will no longer bear
dividends or interest, as applicable. When the account is closed, you will receive the balance left in the account after we have made
all appropriate deductions and charges. The termination of this Agreement and the account does not release you from the obligation
for payment of accrued fees or liability for any drafts in process.
25. Termination of Membership. You may terminate your membership by giving us written notice or by withdrawing your minimum
required membership share, if any, and closing all your accounts. You may be denied services for causing a loss to the Credit Union
or you may be expelled for any reason as allowed by applicable law.
26. Death of Account Owner. If the account is in the name of an individual person or a business that is organized as a sole
proprietorship, we may continue to honor all transfer orders, withdrawals, deposits and other transactions on an account until we
are notified of the Account Owner's death. Once we are notified of an Account Owner's death, we may pay drafts or honor other
payments or transfer orders authorized by the Account Owner for a period of ten (10) days after that date unless we receive
instructions from any person claiming an interest in the account to stop payment on the drafts or other items. We may require
anyone claiming a deceased Account Owner's account funds to indemnify us for any losses resulting from our honoring that claim.
This Agreement will be binding upon any heirs or legal representatives of any Account Owner that is an individual or organized as a
sole proprietorship.
27. Waiver of Rights. We reserve the right to waive the enforcement of any provision of this Agreement with respect to any
transaction or series of transactions. A waiver of our rights at anytime shall not be deemed to be a waiver of any other rights or a
waiver of the same rights at a future time.
28. Severability. If a court holds any portion of this Agreement to be invalid or unenforceable, the remainder of this Agreement shall
not be invalid or unenforceable and will continue in full force and effect. All headings are intended for reference only and are not to
be construed as part of this Agreement.
29. Enforcement. You are liable to us for any loss, cost or expense we incur resulting from your failure to follow this Agreement.
You authorize us to deduct any such loss, costs or expenses from your account without prior notice to you. If we bring a legal action
to collect any amount due under or to enforce this Agreement, we shall be entitled, subject to applicable law, to payment of
reasonable attorney's fees and costs, including fees on any appeal, bankruptcy proceedings, and any post-judgment collection
30. Governing Law. This Agreement is governed by the Credit Union's Bylaws, federal laws and regulations, the laws, including
applicable principles of contract law, and regulations of the state in which the Credit Union's main office is located, and local
clearinghouse rules, as amended from time to time.
31. Waiver of Trial by Jury and Agreement as to Location of Legal Proceedings. As permitted by applicable law, you agree that any
legal action regarding this Agreement shall be brought in the county of the Credit Union office where you opened your account. You
and we agree to waive any right to trial by jury in any legal proceeding or lawsuit involving the account.
32. Negative Information Notice. We may report information about your loan and deposit accounts to credit bureaus. Late payments,
missed payments, or other defaults on your accounts may be reflected in your credit report.
33. Unlawful Internet Gambling and Other Illegal Activities. You agree that you are not engaged in unlawful internet gambling or any
other illegal activity. You agree that you will not use any of your accounts, access devices or services for unlawful internet gambling
or other illegal activities. We may terminate your account relationship if you engage in unlawful internet gambling or other illegal
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