Agreement: By signing this Account Card, each of you, jointly and severally, agree to the terms and conditions of this Share Account Agreement (Agreement) and Account Card, the Truth-in-Savings Rate and Fee Schedule accompanying this Agreement, and the Credit Union’s Bylaws and policies, and any amendments of these documents made from time to time which collectively govern your Membership and Accounts.  You authorize us to check your account credit and employment history, and obtain a credit report from third parties, including credit reporting agencies, to verify your eligibility for any accounts or services you request.

1. Single Party Accounts:  If this is a single party account, the interest of a deceased owner will pass to the payable on death (POD) payee/beneficiary listed on the Account Card.  If there is no POD payee/beneficiary listed, the interest of a deceased owner will pass according to applicable law.

2. Multiple Party Accounts:  You intend and agree that the balance in the account, upon the death of any party to the account, shall belong to the surviving party.  If there are two or more surviving parties, they shall take the account as joint tenants with rights of survivorship, and the interest of a deceased owner will belong to the surviving owner(s).  Any multiple party account owner is authorized and deemed to act for the owner(s) and the Credit Union may accept orders and instructions regarding the account, requests for future services, and any transaction from any other account owner.  Each multiple party account owner guarantees the signature of the other owners.  Any account owner may withdraw all funds in the account, stop payment on items drawn on an account, transfer or pledge to the Credit Union all or any part of the shares of any account without consent of the other account owner(s) and the Credit Union shall have no duty in such event to notify any other account owner(s).  The Credit Union reserves the right at any time to require written consent of all account owners for a change of ownership or termination of a multiple party account.  If the Credit Union receives written notice from any person entitled to request payment from the account to the effect that withdrawals in accordance with the terms of the account should not be permitted, the Credit Union, as allowed by law, may suspend withdrawals from the account and proceed in accordance with state law.  If any item is returned unpaid or if the account is overdrawn, each of the multiple party account owners is jointly and severally liable to the Credit Union for the amount of ant returned item, overdrawn amount, or unpaid amount or charges, regardless of who caused or benefited from the transaction.  If any account owner is indebted to the Credit Union, the Credit Union may enforce its rights against any or all fund in the multiple party account regardless of who contributed the funds to the account.

3. POD Designation:  A Payable on Death (POD) account designation is an instruction to the Credit Union that the account is payable to the owners during their lifetimes, and upon the death of the last account owner,  payable to any named surviving POD payee/beneficiary designated on your Account Card.  Accounts payable to more than one POD payee/beneficiary are owned jointly by such payees with rights of survivorship.  The Credit Union shall at no time have any obligation whatsoever to notify any payee of the existence of any account or the vesting of the payee’s interest in any account, except as otherwise provided by law.

4. Deposit Rules:  You authorize the Credit Union, in its discretion, to accept transfers, checks, drafts, and other items for deposit into your account if they are made payable to, or to the order of, any one or more owners on the account, whether or not they are endorsed by any payees.  If any endorsement or any other markings you or any prior endorser has made on a deposited items causes any delay or error in processing the item for payment, you will be responsible for any loss incurred by the Credit Union due to the delay or error.  In handling items for deposit or collection, the Credit Union only acts as your agent and assumes no responsibility beyond the exercise of ordinary care.  The Credit Union will not be liable for the negligence of any correspondent or for loss in transit.  The Credit Union reserves the right to send any item for collection.  The Credit Union shall have the right to charge back against your account all previously deposited items or other items endorsed by you that are returned to the Credit Union unpaid, regardless of whether the amount of the item has been available for your use.  You waive any notice of nonpayment, dishonor, or protest regarding any items purchased or received by Credit Union for credit to your account or for collection.

5. Account Rates and Fees:  The Credit Union’s payment of earnings on your account is subject to the account rates and fees, payment and balance requirements as set forth in the Rate and Fee Schedule.  The Credit Union may charge you fees for accounts and services provided by the Credit Union.  The fees and charges that may be assessed against your account are set forth on the Rate and Fee Schedule.  You agree the Credit Union may change the Rate and Fee Schedule at any time, and you will be notified of such changes as required by law.

6. Transfer Limitations:  The Credit Union reserves the right to limit the number of transfers you make, including preauthorized, automatic, telephonic, or audio response transfers to another account of yours or to a third party during any calendar month.  In the event the Credit Union imposes limitations, you may make up to six (6) transfers to another account of yours or to a third party during any calendar month.  Of these six you may make no more than three (3) transfers to a third party by check or debit card purchase.  If your account falls below the minimum applicable balance, and you have not made a withdrawal from, deposit to, or transfer involving your account for more than the period specified in the Rate and Fee Schedule and the Credit Union has been unable to contact you by regular mail during that period, the Credit Union may classify your account as a dormant account. Unless prohibited by applicable law, the Credit Union may charge a service fee for continuing to process your dormant account as set forth on the Rate and Fee Schedule.

7. Credit Union Liability:  If the Credit Union does not properly complete a transaction according to this Agreement, the Credit Union may be liable for your losses or damages not to exceed the amount of the transaction, except as otherwise provided by law.  The Credit Union’s actions will constitute the exercise of ordinary care if such actions or nonactions are consistent with applicable state law, federal reserve regulations and operating letters, clearinghouse rules, and general banking practices in the area served by the Credit Union.

8. Credit Union Lien and Security Interest:   To the extent you owe the Credit Union money, the Credit Union has a statutory lien on any or all the funds in any account in which you have ownership interest, regardless of the source of the funds, unless prohibited by law.  The Credit Union may apply these funds, without further notice to you, in any order to pay off your indebtedness.  If the Credit Union does not wave its right to enforce the lien at a later time.  In addition, you grant the Credit Union a consensual interest in your account and agree the Credit Union may use the funds from your accounts in which you have an ownership interest to pay any debt or amount now or hereafter owed the Credit Union, unless prohibited be applicable law.

9. Amendments:  Except as otherwise prohibited by applicable law, the terms of this Agreement are subject to change at any time.  The Credit Union will notify you of any changes in terms, rates, or fees as required by law.  The Credit Union reserves the right to waive any term in this Agreement.  Any such waiver shall not affect the Credit Union’s right to enforce any right in the future.

10. Enforcement:  You agree to be liable to the Credit Union for any loss, cost or expense that the Credit Union incurs as a result of your failure to follow this Agreement.  You authorize the Credit Union to deduct any such loss, cost or expense from your account without prior notice to you.  In the event the Credit Union brings a legal action to enforce the Agreement or collect any amount due under this Agreement, the Credit Union shall be entitled, subject to applicable law, to payment of its reasonable attorney’s fees and costs, including fees on any appeal, bankruptcy proceedings, and any post-judgment collection actions.

Governing Law:  This Agreement is governed by the Bylaws of the Credit Union, 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.  To the extent permitted by applicable law, you agree that any legal action regarding this Agreement shall be brought in the county in which the Credit Union is located.