Fillable PENFED PREMIUM ONLINE SAVINGS ACCOUNT & MEMBERSHIP APPLICATION/SIGNATURE

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PENFED PREMIUM ONLINE SAVINGS ACCOUNT & MEMBERSHIP APPLICATION/SIGNATURE

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Eligibility of Organization for PenFed Membership
PenFed does not allow business accounts. If you are unsure if your organization qualifies for membership, please call 800-247-5626.
Member of:
c
 
ASMC
 
c
 
CGAuxA
 
c
 
MOAA
 
c
 
NAUS
 
c
 
VFW
 
c
 
ROA
 
c
 
Navy League
 
c
 
USAWOA
 
c
 
Other:
____________________________________
c
 
  
Organization is a federal credit union.
c
 
  
Letter attached with explanation of how all members of the organization meet PenFed’s membership requirements.
Organization Information
Name of Organization: 
________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
TIN:
___________________________________________________________________________________________________________________________________
Phone Number:
____________________________________________________________________________________________________
____
______
Mailing Address:
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
___
__________
Physical Address (if dierent from mailing):
____________________________________________________________________________________________________________________________________________________________________________________________
________
___________
Email Address:
________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
____
______________
c
 To avoid paying a fee for mailed statements, please sign me up for FREE e-statement notifications.
(You will receive an email confirmation with instructions to confirm your e-statement option)
Date Organization Established: 
______________________________________________________________________
Country of Organization: 
_________________________________________________________________________________________
Organization’s Primary Purpose: 
___________________________________________________________________________________________________________________________________________________________________________________________________________________
_____
__
NAICS: 
___________________________________________________________________________________________________________________________
Nature of Organization: 
____________________________________________________________________________________________
Products/Services Oered by Organization: 
_____________________________________________________________________________________________________________________________________________________________________________________
__________
_
I
n what locations/regions does the
c
  VA (Local) 
c
 VA (Statewide) 
c
 VA & Surrounding State(s)
including DC
Organization provide service?
c
  Northeast
c
  Midwest 
c
 South 
c
 West  
c
  North America
c
 International
Does the Organization conduct international business?
c
 Yes 
c
 No
Does the Organization have any non-US oces? 
c
 Yes 
c
 No
Does the Organization use the internet to receive or send information that could be used to place bets or facilitate in any way the
placing of bets (internet gambling)? 
c
 Yes 
c
 No
Does the Organization provide any of the following services? Check Cashing Services
c
 Yes 
c
 No
Currency Exchange Services
c
 Yes 
c
 No
Money Transfer Services
c
 Yes 
c
 No
Stored Value Cards
c
 Yes 
c
 No
Travelers Checks
c
 Yes 
c
 No
Virtual Currency Services
c
 Yes 
c
 No
Wire Transfer Services
c
 Yes 
c
 No
Does the Organization own, operate, or service ATMs? 
c
 Yes 
c
 No
Transaction Activity for PenFed Account
How much of the opening deposit is cash?  
c
 
less than $5,000 
c
 
$5,000-$9,999 
c
 
$10,000 or Greater
What will be the primary ongoing source of funding?
c
 
Organization Operations
c
 
Investments
c
 
Govt. Funding/Retirement/Disability
c
 
Rental Property
c
 
Payroll/Employment
c
 
Inheritence/Gift
c
 
Other
___________________________________________________________________________________________________________________________________
__________
_____
Funds Source (Name of Bank): 
______________________________________________________________________________
Funds Description: 
______________________________________________________________________________________________
____
_____
Form 220-ORG (06/20) © Pentagon Federal Credit Union, 2020 Page 1 of 7
c
New Membership & Premium Online Savings Account  
c
 
Open Secondary Account  
c
Update Account Information - Account Number: 
_________________________________________________________
A minimum $5 opening deposit is required to open an account. If applying by mail, please include a check.
PENFED PREMIUM ONLINE SAVINGS ACCOUNT
& MEMBERSHIP APPLICATION/SIGNATURE CARD
for ORGANIZATIONAL ACCOUNTS
Form 220-ORG (06/20) © Pentagon Federal Credit Union, 2020 Page 2 of 7
Expected average amount of monthly cash deposits to all PenFed accounts
c
 
None
 
c
 
$10,001 - $75,000
(e.g., ATM check deposits, direct deposits, balance transfers, etc.)
c
 
$1 - $10,000
 
c
 
Greater than $75,000
Expected average amount of monthly cash withdrawals
from all PenFed accounts
c
 
None
 
c
 
$10,001 - $75,000
(e.g., ATM check deposits, direct deposits, balance transfers, etc.)
c
 
$1 - $10,000
 
c
 
Greater than $75,000
Typical Wire Transfer Activity for PenFed Account
Does the Organization send or receive international wire transfers?
 
c
 Yes 
c
 No
Sending Countries: 
_________________________________________________________________________________________________
 Receiving Countries: 
_________________________________________________________________________
_______________
_________
What is the primary purpose of the wire transfers?
c
 
Charitable Donation
c
 
Loan Payment/Payo
c
 
Educational Assistance/Tuition
c
 
Transfer to Financial Institution
c
 
Investment
c
 
Organization Funding
c
 
Purchase of Goods/Supplies
c
 
Shipping/Exporting of Goods
c
 
Real Estate Transaction
c
 
Other:
______________________________________________________________________________________________________________________________________________________________________________________________
_
_____
What is the primary relationship between sender and beneficiary?
c
 Organization Associate
c
 
Educational Institution
c
 
Investment/Insurance Agent
c
 
Lender/Settlement Agent
c
 Financial Institution
c
 
Charitable Donation
c
 
Vendor/Seller of Merchandise
c
 
Shipping/Exporting Company
c
 
Other:
___________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
________
____________
Amount of recurring incoming wire transfers: 
c
 
None
 
c
 
$1 - $100,000
 
c
 
Greater than $100,001
(domestic and international combined on a monthly basis)
Amount of recurring outgoing wire transfers:
c 
None
  c 
$1 - $100,000
  c 
Greater than $100,001
(domestic and international combined on a monthly basis)
Typical ACH Activity
Does the Organization originate or receive domestic ACH activity?
c
 Yes 
c
 No
Does the Organization originate or receive international
ACH activity?
c
 Yes 
c
 No
Sending Countries: 
_________________________________________________________________________________________________
 Receiving Countries: 
_________________________________________________________________________
_______________
_________
What is the primary purpose of the incoming ACH domestic/international activity?
c
 Bill Payments
c
 
Payroll
c
 
Organization Payments
c
 
PayPal
c
 
Investments
c
 
Purchases
c
 
Organization Related Transfers
c
 
Government Benefits
c
 
Tax returns
c
 
Consolidation of Funds
What is the primary purpose of the outgoing
ACH domestic/international activity?
c
 Bill Payments
c
 
Payroll
c
 
Organization Payments
c
 
PayPal
c
 
Investments
c
 
Purchases
c
 
Organization Related Transfers
c
 
Government Benefits
c
 
Tax returns
c
 
Consolidation of Funds
Amount of recurring incoming ACH Activity
(on a monthly basis):
c
 None 
c
 $1 - $75,000
c
 Greater than $75,001
Amount of recurring outgoing ACH Activity
(on a monthly basis):
c
 None 
c
 $1 - $75,000
c
 Greater than $75,001
I/we have read the attached Membership and Joint Account Agreement and, if accepted, I/we agree to comply with these terms and any amendments thereto,
and to subscribe to at least one share. I/we authorize PenFed to obtain a credit report to determine my/our eligibility for this account or other financial services I/
we may request. Under penalties of perjury, I/we certify: 1) the number shown on this form is my/our correct taxpayer identification number; and 2) I/we am/are
not subject to backup withholding because (a) I/we am/are exempt from backup withholding, or (b) I/we have not been notified by the Internal Revenue Service
(IRS) that I/we am/are subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me/us I/we am/are no
longer subject to backup withholding (cross out this section if you are subject to withholding); and 3) I/we am/are a U.S. person (including a U.S. resident alien).
The Internal Revenue Service does not require your consent to any provision of this document other than the certifications required to avoid backup withholding.
By signing below, I/We acknowledge that I/we have read the attached account agreements and agree to comply with all its terms and conditions.
Agreement
Authorized Signer
x
Authorized Signer Authorized Signer
x x
Authorized Signer
x
Authorized Signer Authorized Signer
x x
is hereby authorized on behalf of this Organization and in its name to open other share, share draft, share certificate, or other similar
accounts with PenFed in the name of the Organization, and sign specific PenFed account agreements for such accounts; to make
deposits and withdrawals from any such accounts, and as such to endorse checks, notes, bills, share certificates, or other instruments
owned or held by this Organization for deposit in said account, or for collection or discount by PenFed; to waive demand, protest,
notice of protest, or dishonor of any check, note, bill draft, or other instrument made, drawn or endorsed by this Organization; and to
sign checks, drafts, withdrawal slips, vouchers or other orders for the withdrawal of money from any account held for its benefit; and
FURTHER RESOLVED, any one of the persons listed above is further authorized to act as the agent of this Organization to vote by
mail ballot in the annual election of ocials of PenFed; and
FURTHER RESOLVED, PenFed is authorized to honor, receive or pay all instruments signed in accordance with this document even
though drawn or endorsed or directed to be made payable to the order of any ocer signing the same or tendered for cashing, or
in payment of the individual obligation of such ocer, or for deposit to their personal account; and PenFed shall not be required, or
be under any obligation, to inquire as to the circumstances of the issuance or use of any instrument signed in accordance with this
document, or the application or disposition of such instrument, or the proceeds thereof; and
FURTHER RESOLVED, any checks, drafts, notes or other instruments of any kind payable to or belonging to this Organization may
be endorsed by any of its ocers, employees, or agents and deposited with PenFed for the credit and use of this Organization, and
that said endorsements may be made in writing or by a stamp and without designation of the person so endorsing; and
FURTHER RESOLVED, any one of the persons listed above is authorized to act as agent and on behalf of the Organization to borrow
funds as permitted by law, and as such sign any and all applications, promissory notes, security agreements, loan account agreements,
and other such loan documentation PenFed may require, subject to any limitations established by PenFed, and to pledge shares to
secure such loans; and
FURTHER RESOLVED, any one of the persons listed above is authorized to initiate transfers between account(s) on which the
requestor is listed as an account owner or authorized signer; and such transfers may be initiated by telephone, in person, fax, email,
or other methods permitted by PenFed; and
FURTHER RESOLVED, the secretary shall certify to PenFed the names of the presently duly elected and qualified ocers of this
Organization and shall from time to time hereafter as changes in the personnel of said oces are made, immediately certify such
changes to PenFed, and PenFed shall be fully protected in relying on such certifications of the secretary, and shall be indemnified
and saved harmless from any claims, demands, expenses, loss, or damage resulting from, or growing out of, honoring the signatures
of any ocer so certified, or refusing to honor any signature not so certified; and
I the undersigned, hereby certify to Pentagon Federal Credit Union (hereinafter referred to as PenFed) that at a meeting of the
________________________________________________ (insert Executive Committee, Board of Directors, or other appropriate
authoritative body) of the __________________________________________________________ (full legal name of organization)
whose mailing address is ___________________________________________________________________________________ duly
called and held on ___________________ 20____, the following resolutions were duly adopted. I further certify the resolutions are
in conformity with the bylaws of the said Organization and are in full force and eect.
RESOLVED, PenFed is hereby designated as depository of this Organization and the share accounts, or such other accounts that
may be available at the time of this Resolution, or in the future, may be opened and maintained in the name of the Organization; and
specific account agreements will be necessary for each individual account.
FURTHER RESOLVED, the funds of this Organization may be deposited to and withdrawn from accounts held for this Organization
by PenFed subject to rules and regulations as promulgated by the National Credit Union Administration and the bylaws of PenFed.
FURTHER RESOLVED, any one of the following ocers* of this Organization (If additional room is needed for signers, please see
next page):
Form 220-ORG (06/20) © Pentagon Federal Credit Union, 2020 Page 3 of 7
RESOLUTION BY ORGANIZATION
TO CONDUCT BUSINESS
1. Full Name (First, MI, Last): ____________________________________________________ Title: ___________________________
Physical Address: ________________________________________________________ DOB
(MM/DD/YYYY)
: ________________
Full SSN/ITIN: ______________________  Check if ITIN Signature: 
x
2. Full Name (First, MI, Last): ____________________________________________________ Title: ___________________________
Physical Address: ________________________________________________________ DOB
(MM/DD/YYYY)
: ________________
Full SSN/ITIN: ______________________  Check if ITIN Signature: ________________________________________________________
x
3. Full Name (First, MI, Last): ____________________________________________________ Title: ___________________________
Physical Address: ________________________________________________________ DOB
(MM/DD/YYYY)
: ________________
Full SSN/ITIN: ______________________  Check if ITIN Signature: 
x
Form 8 (08/19) © Pentagon Federal Credit Union, 2019
CERTIFICATION – Under penalties of perjury, I certify that:
1) The number shown on this form is the correct taxpayer identification number, and
2) This Organization is not subject to backup withholding either because it has not been notified by the Internal Revenue Service
(IRS) it is subject to backup withholding as a result of a failure to report all interest or dividends, or the IRS has notified
the Organization it is no longer subject to backup withholding (does not apply to real estate transactions, mortgage interest
paid, the acquisition or abandonment of secured property, contributions to an Individual Retirement Arrangement (IRA), and
payments other than interest and dividends).
CERTIFICATION INSTRUCTIONS – You must cross out item (2) above if you have been notified by the IRS that you are currently
subject to backup withholding because of underreporting interest or dividends on your tax return.
IN WITNESS WHEREOF, I have hereunto subscribed my name and axed the seal of said organization this _______ day of
_________________, 20______
Please
Sign
Here
Employer Identification No. _____________________________________ (______) ___________________________  (______) _____________________________
Signature ________________________________ Title _________________________________________ Date _______________________________
(*If the Secretary is authorized above to sign checks, etc., this document must be executed by another ocer, with title indicated.)
Please check appropriate box: This is a   for profit organization   not-for-profit organization.
FURTHER RESOLVED, the secretary is authorized and directed to certify to PenFed the foregoing resolutions and the provisions
thereof are in conformity with the charter and bylaws of this Organization; and
FURTHER RESOLVED, the provisions of this document shall remain in full force and eect until written notice of their amendment or
rescission is received by PenFed, and the receipt of such notice shall not aect any action taken by PenFed prior thereto.
Additional room for signers (if required):
Form 220-ORG (06/20) © Pentagon Federal Credit Union, 2020 Page 4 of 7
Form 8 (08/19) © Pentagon Federal Credit Union, 2019
(Day Phone) (Evening Phone)
1. Full Name (First, MI, Last): ____________________________________________________ Title: ___________________________
Physical Address: ________________________________________________________ DOB
(MM/DD/YYYY)
: ________________
Full SSN/ITIN: ______________________  Check if ITIN Signature: 
x
2. Full Name (First, MI, Last): ____________________________________________________ Title: ___________________________
Physical Address: ________________________________________________________ DOB
(MM/DD/YYYY)
: ________________
Full SSN/ITIN: ______________________  Check if ITIN Signature: 
x
3. Full Name (First, MI, Last): ____________________________________________________ Title: ___________________________
Physical Address: ________________________________________________________ DOB
(MM/DD/YYYY)
: ________________
Full SSN/ITIN: ______________________  Check if ITIN Signature: ________________________________________________________
x
4. Full Name (First, MI, Last): ____________________________________________________ Title: ___________________________
Physical Address: ________________________________________________________ DOB
(MM/DD/YYYY)
: ________________
Full SSN/ITIN: ______________________  Check if ITIN Signature: 
x
5. Full Name (First, MI, Last): ____________________________________________________ Title: ___________________________
Physical Address: ________________________________________________________ DOB
(MM/DD/YYYY)
: ________________
Full SSN/ITIN: ______________________  Check if ITIN Signature: 
x
6. Full Name (First, MI, Last): ____________________________________________________ Title: ___________________________
Physical Address: ________________________________________________________ DOB
(MM/DD/YYYY)
: ________________
Full SSN/ITIN: ______________________  Check if ITIN Signature: ________________________________________________________
x
Form 2
20-ORG (06/20) © Pentagon Federal Credit Union, 20202019 Page 5 of 7
CERTIFICATION REGARDING BENEFICIAL OWNERS
OF LEGAL ENTITY CUSTOMERS
(Please proceed with the form below if you are a legal entity)
I. General Instructions
What is this form?
To help the government fight fi nancial crime, fe deral regulation requires ce rtain fin ancial institutions to obt ain, ver ify, and record
information about the beneficial owners of legal entity customers. Legal entities can be abused to disguise involvement in terrorist
financing, money laundering, tax evasion, corruption, fraud, and other financial crimes. Requiring the disclosure of key individuals who
own or control a legal entity (i.e., the beneficial owners) helps law enforcement investigate and prosecute these crimes.
Who has to complete this form?
This form must be completed by the person opening a new account on behalf of a legal entity with any of the following U.S. financial
institutions: (i) a bank or credit union; (ii) a broker or dealer in securities; (iii) a mutual fund; (iv) a futures commission merchant; or
(v) an introducing broker in commodities.
For the purposes of this form, a legal entity includes a corporation, limited liability company, or other entity that is created by a filing
of a public document with a Secretary of State or similar oce, a general partnership, and any similar business entity formed in the
United States or a foreign country. Legal entity does not include sole proprietorships, unincorporated associations, or natural persons
opening accounts on their own behalf.
What information do I have to provide?
This form requires you to provide the name, address, date of birth, and Social Security number (or passport number or other similar
information, in the case of foreign persons) for the following individuals (i.e., the beneficial owners):
(i) Each individual, if any, who owns, directly or indirectly, 10 percent or more of the equity interests of the legal entity member (e.g.,
each natural person that owns 10 percent or more of the shares of a corporation); and
(ii) An individual with significant responsibility for managing the legal entity member (e.g., a Chief Executive Ocer, Chief Financial
Ocer, Chief Operating Ocer, Managing Member, General Partner, President, Vice President, or Treasurer).
The number of individuals that satisfy this definition of “beneficial owner” may vary. Under section (i), depending on the factual
circumstances, up to four individuals (but as few as zero) may need to be identified. Regardless of the number of individuals
identified under section (i), you must provide the identifying information of one individual under section (ii). It is possible that in some
circumstances the same individual might be identified under both sections (e.g., the President of Acme, Inc. who also holds a 30%
equity interest). Thus, a completed form will contain the identifying information of at least one individual (under section (ii)), and up
to six individuals (i.e., one individual under section (ii) and seven 10 percent equity holders under section (i)).
The financial institution may also ask to see a copy of a driver’s license or other identifying document for each beneficial owner listed
on this form.
II. Certification of Beneficial Owner(s)
A. Name and title of natural person opening account: ________________________________________________________________
B. Name and address of legal entity opening account: ________________________________________________________________
__________________________________________________________________________________________________________
C. The following information for each individual, if any, who, directly or indirectly, through any contract, arrangement, understanding,
relationship or otherwise, owns 10 percent or more of the equity interests of the legal entity listed above:
Form 37-ORG (08/19) © Pentagon Federal Credit Union, 2019
1. Name: ____________________________________________________ % of Shares: _______ Date of Birth: ____________
Address (Residential or Business Street Address): ____________________________________________________________________
US Person
SSN/ITIN:
___________________________   Check if ITIN
Foreign P
erson - Passport No. & Country
of Issuance or similar Identification No.:
_____________________________________
2. Name: ____________________________________________________ % of Shares: _______ Date of Birth: ____________
Address (Residential or Business Street Address): ____________________________________________________________________
US Person
SSN/ITIN:
___________________________   Check if ITIN
Foreign P
erson - Passport No. & Country
of Issuance or similar Identification No.:
_____________________________________
3. Name: ____________________________________________________ % of Shares: _______ Date of Birth: ____________
Address (Residential or Business Street Address): ____________________________________________________________________
US Person
SSN/ITIN:
___________________________   Check if ITIN
Foreign P
erson - Passport No. & Country
of Issuance or similar Identification No.:
_____________________________________
4. Name: ____________________________________________________ % of Shares: _______ Date of Birth: ____________
Address (Residential or Business Street Address): ____________________________________________________________________
US Person
SSN/ITIN:
___________________________   Check if ITIN
Foreign P
erson - Passport No. & Country
of Issuance or similar Identification No.:
_____________________________________
Form 220-ORG (06/20) © Pentagon Federal Credit Union, 2020 Page 6 of 7
Form 37-ORG (08/19) © Pentagon Federal Credit Union, 2019
(If no individual meets this definition, please write “Not Applicable”.)
D. The following information for one individual with significant responsibility for managing the legal entity listed above, such as:
An executive ocer or senior manager (e.g., Chief Executive Ocer, Chief Financial Ocer, Chief Operating Ocer,
Managing Member, General Partner, President, Vice President, Treasurer); or
Any other individual who regularly performs similar functions.
(If appropriate, an individual listed under section C. above may also be listed in this section D.)
I, ________________________________________________________ (name of natural person opening account), hereby certify, to
the best of my knowledge, that the information provided above is complete and correct.
Signature: ______________________________________________________________ Date: _____________________________
Name Printed: ____________________________________________________
____
__
*In lieu of a passport number, foreign persons may also provide an alien identification card number, or number and country of issuance
of any other government-issued document evidencing nationality or residence and bearing a photograph or similar safeguard.
Legal Entity Identifier: ____________________________________________(Optional)
1. Name: ____________________________________________________ % of Shares: _______ Date of Birth: ____________
Address (Residential or Business Street Address): ____________________________________________________________________
US Person
SSN/ITIN:
___________________________   Check if ITIN
Foreign P
erson - Passport No. & Country
of Issuance or similar Identification No.:
_____________________________________
2. Name: ____________________________________________________ % of Shares: _______ Date of Birth: ____________
Address (Residential or Business Street Address): ____________________________________________________________________
US Person
SSN/ITIN:
___________________________   Check if ITIN
Foreign P
erson - Passport No. & Country
of Issuance or similar Identification No.:
_____________________________________
5. Name: ____________________________________________________ % of Shares: _______ Date of Birth: ____________
Address (Residential or Business Street Address): ____________________________________________________________________
US Person
SSN/ITIN:
___________________________   Check if ITIN
Foreign P
erson - Passport No. & Country
of Issuance or similar Identification No.:
_____________________________________
6. Name: ____________________________________________________ % of Shares: _______ Date of Birth: ____________
Address (Residential or Business Street Address): ____________________________________________________________________
US Person
SSN/ITIN:
___________________________   Check if ITIN
Foreign P
erson - Passport No. & Country
of Issuance or similar Identification No.:
_____________________________________
7. Name: ____________________________________________________ % of Shares: _______ Date of Birth: ____________
Address (Residential or Business Street Address): ____________________________________________________________________
US Person
SSN/ITIN:
___________________________   Check if ITIN
Foreign P
erson - Passport No. & Country
of Issuance or similar Identification No.:
_____________________________________
8. Name: ____________________________________________________ % of Shares: _______ Date of Birth: ____________
Address (Residential or Business Street Address): ____________________________________________________________________
US Person
SSN/ITIN:
___________________________   Check if ITIN
Foreign P
erson - Passport No. & Country
of Issuance or similar Identification No.:
_____________________________________
9. Name: ____________________________________________________ % of Shares: _______ Date of Birth: ____________
Address (Residential or Business Street Address): ____________________________________________________________________
US Person
SSN/ITIN:
___________________________   Check if ITIN
Foreign P
erson - Passport No. & Country
of Issuance or similar Identification No.:
_____________________________________
10. Name: ____________________________________________________ % of Shares: _______ Date of Birth: ___________
Address (Residential or Business Street Address): ____________________________________________________________________
US Person
SSN/ITIN:
___________________________   Check if ITIN
Foreign P
erson - Passport No. & Country
of Issuance or similar Identification No.:
_____________________________________
3. Name: ____________________________________________________ % of Shares: _______ Date of Birth: ____________
Address (Residential or Business Street Address): ____________________________________________________________________
US Person
SSN/ITIN:
___________________________   Check if ITIN
Foreign P
erson - Passport No. & Country
of Issuance or similar Identification No.:
_____________________________________
MEMBERSHIP AGREEMENT
The words “I”, “me”, “my”, “myself” mean each person signing the
membership application/signature card including anyone who has
access to the account(s).
1. I understand that this account shall be governed by the Code
of Virginia, federal laws, National Credit Union Administration
(NCUA) Rules and Regulations and the bylaws and policies and
procedures of the Credit Union and any amendments thereto.
This account shall be subject to other terms and conditions
which are subject to change upon notice to me.
2. I agree that PenFed has the right pursuant to its statutory
lien and further, I give my express consent to enable PenFed
to charge against any balance in any of my PenFed accounts,
including accounts on which I am a joint owner, to include any
otherwise statutorily protected funds that may not otherwise
be available by legal process, to liquidate any PenFed
indebtedness, owed by me or any person who is listed as a joint
owner on my accounts with PenFed, including a deceased joint
owner. This provision does not include my IRA account or any
other account for which this provision is not permitted under
Internal Revenue Code. PenFed may take such action without
further notice to me or any joint owner. In regard to those
funds that have a statutory protection I understand that I may
withdraw my express consent for PenFed to apply such funds
to pay any such indebtedness by notifying PenFed in writing.
If my consent is withdrawn, PenFed may in its sole discretion
terminate any and all services that I have with the credit union.
3. I expressly authorize PenFed to procure upon its request from
any person, partnership, credit reporting agency, association,
firm, or corporation a credit report and for such person to
furnish PenFed with said credit report concerning any financial
service I may request or obtain from PenFed as well as any
subsequent re-evaluation of any such financial service.
4. If I have caused PenFed to incur any loss due to my activities,
or if any account at PenFed is maintained by me in a manner
that PenFed, in its sole discretion, deems contrary to sound
financial practice, I agree that PenFed may terminate all
accounts or services which I may receive from PenFed with the
exception of my Regular Share account.
5. I understand that if all my shares in PenFed are withdrawn,
my membership in PenFed may be terminated. Funds in my
accounts will be subject to collection through normal banking
channels and PenFed’s hold policy.
6. I agree that my share accounts are not transferable except on
the records of PenFed.
7. I agree that payment of money in the account on the written
instructions of any authorized person excuses PenFed of
any further legal obligation regarding the proceeds of the
transaction. I agree to indemnify and hold PenFed harmless
from any suits or liability, directly or indirectly, resulting
from the handling of the account consistent with the written
instructions of any authorized person. PenFed may refuse to
honor my instruction if it is unclear or the signature appears
not to be authentic.
8. Any financial service provided by PenFed may be used for
any transaction permitted by law. I agree that illegal use of
any financial service will be deemed an action of default and/
or breach of contract and such service and/or other related
services may be terminated in PenFed’s discretion. I further
agree, should illegal use occur, to waive any right to sue PenFed
for such illegal use or any activity directly or indirectly related
to it and additionally I agree to indemnify and hold PenFed
harmless from any suits or other legal action or liability, directly
or indirectly, resulting from such illegal use.
JOINT SHARE ACCOUNT AGREEMENT
If any of my accounts, either now or in the future are established
as a joint account, PenFed is authorized to recognize any one of
the joint owner signatures for the payment of funds or for any
transaction for this account. The joint owners of this account agree
with each other and with PenFed that all funds deposited into the
account shall be owned jointly by all joint owners. The funds on
deposit will be subject to the withdrawal or receipt of any joint
owner. In the event of death of an owner and according to the
type of joint share account selected, withdrawal or payment may
also be made to the survivor(s) or the estate(s) of the deceased
owner(s).Each joint owner will discharge PenFed from any liability
for the payment or withdrawal.
A joint owner who is a PenFed member may pledge all or part
of the shares in this account as collateral security for a loan or
loans, and PenFed is authorized to charge at any time against this
account any indebtedness owing to it by any of the joint owners.
Please note: Joint ownership does not constitute membership.
This account shall be governed by the Code of Virginia, Federal
Laws, Rules and Regulations and the Bylaws of PenFed and any
amendments thereto.
TRANSACTION LIMITATIONS
PenFed reserves the right to require at least seven (7) days
notice prior to withdrawal or transfer of funds from this account.
Federal Regulation D limits the following to no more than a total
of 6 per monthly dividend cycle: transfers or withdrawals made to
another PenFed account (other than for the purpose of repaying
a PenFed loan and associated expenses) if made by preauthorized
or automatic transfer, by telephone or fax, or via PenFed Online
(PFOL) or the mobile application; transfers or withdrawals to a
third party if made by preauthorized or automatic transfers, by
telephone or fax, or via PFOL; or transfers to a third party if made
by check, draft, or similar order made by me and payable to a third
party. If I exceed these limitations my account will be subject to an
excessive transaction fee and may be closed.
______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
IMPORTANT: PLEASE READ AND RETAIN FOR YOUR RECORDS
Form 220-ORG (06/20) © Pentagon Federal Credit Union, 2020 Page 7 of 7
PenFed is federally insured by the National Credit Union
Administration (NCUA). The information in this form is current as
of June 2020 and is subject to change. To determine if changes
have occurred since printing, call 800-247-5626. Our address, in
accordance with NY Law, is 7940 Jones Branch Drive, Tysons, VA
22102.
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PENFED PREMIUM ONLINE SAVINGS ACCOUNT & MEMBERSHIP APPLICATIONSIGNATURE

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Completed 14 December 2021

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