Common use of Closing the Account Clause in Contracts

Closing the Account. Any party to an Account may close the Account at any time, except that no Joint Owner may close the Regular Share Account of a member or reduce the balance of any such Account below the par value of one share. Your right to close an Account is subject to any statutory or contractual lien existing in our favor and any legal process levied against any such Account. We may close any Account at any time and disburse funds on deposit in any such Account to the Owners of the Account or in satisfaction of any obligation owing to us, in any manner we deem appropriate, if (i) any of the events set forth in the preceding paragraphs 6 or 8 should arise, (ii) we believe that we may suffer a loss if the Account is not closed or we believe that the volume of Account activity exceeds that which we can reasonably and safely process, (iii) we determine that any party to the Account or party claiming an interest in the Account has been abusive in the use of the Account or in the conduct of his or her affairs with the Credit Union, or (iv) there has been a change in Account ownership or a change with regard to the persons authorized to sign on the Account. An Early Closure Administrative Fee may apply if the Membership Account is closed within one year of opening.

Closing the Account. Any party to an Account may close the Account at any time, except that no Joint Owner may close the Regular Share Savings Account of a member or reduce the balance of any such Account below the par value of one share. Your right to close an Account is subject to any statutory or contractual lien existing in our favor and any legal process levied against any such Account. We may close any Account at any time and disburse funds on deposit in any such Account to the Owners of the Account or in satisfaction of any obligation owing to us, in any manner we deem appropriate, if (ia) any of the events set forth in the preceding paragraphs 6 8 or 8 9 should arise, (iib) we believe that we may suffer a loss if the Account is not closed or we believe that the volume of Account activity exceeds that which we can reasonably and safely process, (iiic) we determine that any party to the Account or party claiming an interest in the Account has been abusive in the use of the Account or in the conduct of his or her affairs with the Credit Union, or (ivd) there has been a change in Account ownership owner- ship or a change with regard to the persons authorized to sign on the Account. An Early Closure Administrative Fee early closure fee may apply if the Membership Primary Savings Account is closed within one year of opening. Refer to the Truth In Savings Disclosures and Rate and Fee Schedule.

Closing the Account. Any party to an Account may close the Account at any time, except that no Joint Owner may close the Regular Share Savings Account of a member or reduce the balance of any such Account below the par value of one share. Your right to close an Account is subject to any statutory or contractual lien existing in our favor and any legal process levied against any such Account. We may close any Account at any time and disburse funds on deposit in any such Account to the Owners of the Account or in satisfaction of any obligation owing to us, in any manner we deem appropriate, if (ia) any of the events set forth in the preceding paragraphs 6 9 or 8 12 should arise, (iib) we believe that we may suffer a loss if the Account is not closed or we believe that the volume of Account activity exceeds that which we can reasonably and safely process, (iiic) we determine that any party to the Account or party claiming an interest in the Account has been abusive in the use of the Account or in the conduct of his or her affairs with the Credit Union, (d) our attempts to verify your identity have failed, (e) you do not cooperate with our reasonable requests in connection with maintenance of your Account, or (ivf) there has been a change in Account ownership or a change with regard to the persons authorized to sign on the Account. An Early Closure Administrative Fee may apply if the Membership Account is closed within one year of opening.