Common use of Set off and combination Clause in Contracts

Set off and combination. You authorize the Credit Union at any time and without notice, to combine the balance of one of your Accounts with the balance of any other of your Accounts, so as to treat all of your Accounts with the Credit Union as a single balance; there will be no implied agreement to the contrary. If you owe any money to the Credit Union which is due but unpaid, whether it is owed alone or with others, you authorize the Credit Union, without prior notice, to apply any credit balance in any Account, or any other amount the Credit Union owes to you howsoever that debt is noted, towards the unpaid amount. For this purpose, you authorize the Credit Union to transfer funds from one Account to another (including any joint Account that you can operate individually), to use funds in one currency to buy another currency and to break any term deposit. The Credit Union may do this without prior notice and in the order, and as often, as the Credit Union determines in its sole discretion.