Classic Checking Sample Clauses
The "Classic Checking" clause establishes the terms and conditions under which a checking account operates. It typically outlines features such as minimum balance requirements, monthly maintenance fees, check-writing privileges, and overdraft policies. By clearly defining these operational details, the clause ensures both the account holder and the financial institution understand their rights and obligations, thereby reducing misunderstandings and promoting smooth account management.
Classic Checking all the benefits of Basic Checking plus: (1) a line of credit may be tied to this account for additional overdraft protection; and (2) direct deposit, or $1,000 account balance waives the monthly service fee shown on the Schedule of Fees.
Classic Checking. Rate Information: The dividend rate and annual percentage yield (APY) may change at any time, as determined by OU Credit Union’s board of directors. If you close your account prior to payment of a dividend, you will not receive any accrued dividend.