Common use of Account Agreement Clause in Contracts

Account Agreement. Your application for Membership in the Credit Union as well as your use of any Credit Union Membership privileges constitutes an acknowledgement and consent to the terms and conditions of your accounts as set forth in this Account Agreement and all other accompanying Disclosures provided to you. Share Drafts & Other Access Devices. We may reject any share draft or other Account access device which does not meet Our standards for acceptance by Us, whether such standards are established by law, regulation or Our own policy. Payment Order of Items. The law permits us to pay items (such as checks or drafts) drawn on your account in any order. To assist you in handling your account with us, we are providing you with the following information regarding how we process the items that you authorize. When processing items drawn on your account, our policy is to pay them in the order that they are received. The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. There is no policy that is favorable to every instance. If the smallest items are paid first, you may have fewer NSF or overdraft fees, but the largest, and perhaps more important items (such as rent or mortgage payments) might not be paid. If an item is presented without sufficient funds in your account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item (NSF). The amounts of the overdraft and NSF fees are disclosed elsewhere. By paying items presented at the same time from smallest to largest, we think our policy attains a reasonable balance between minimizing additional cost to you and paying your more important items. We encourage you to make careful records and practice good account management. This will help you to avoid writing checks or drafts without sufficient funds and incurring the resulting fees.

Account Agreement. Your application for Membership in the Credit Union as well as your use of any Credit Union Membership privileges constitutes an and acknowledgement and consent to the terms and conditions of your accounts as set forth in this Account Agreement and all other accompanying Disclosures provided to you. Share Drafts & Other Access Devices. We may reject any share draft or other Account access device which does not meet Our standards for acceptance by Us, whether such standards are established by law, regulation or Our own policy. Payment Order of Of Items. The law permits us to pay items (such as checks or drafts) drawn on your account in any order. To assist you in handling your account with us, we are providing you with the following information regarding how we process the items that you authorizewrite. When processing items drawn on your account, our policy is to pay them in the order that they are received. The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. There is no policy that is favorable to every instance. If the smallest items are paid first, you may have fewer NSF or overdraft fees, but the largest, and perhaps more important items (such as rent or mortgage payments) might not be paid. If an item is presented without sufficient funds in your account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item (NSF). The amounts of the overdraft and NSF fees are disclosed elsewhere. By paying items presented at in the same time from smallest to largestorder that we receive them, we think our policy attains a reasonable balance between minimizing additional cost to you and paying your more important items. We encourage you to make careful records and practice good account management. This will help you to avoid writing checks or drafts without sufficient funds and incurring the resulting fees.

Account Agreement. Your application for Membership in the Credit Union as well as your use of any Credit Union Membership privileges constitutes an acknowledgement and consent to the terms and conditions of your accounts as set forth in this Account Agreement and all other accompanying Disclosures provided to you. Share Drafts & Other Access DevicesDevises. We may reject any share draft or other Account access device which does not meet Our standards for acceptance by Us, whether such standards are established by law, regulation or Our own policy. Payment Order of Of Items. The law permits us to pay items (such as checks or drafts) drawn on your account in any order. To assist you in handling your account with us, we are providing you with the following information regarding how we process the items that you authorizewrite. When processing items drawn on your account, our policy is to pay them in the order that they are received. The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. There is no policy that is favorable to every instance. If the smallest items are paid first, you may have fewer NSF or overdraft fees, but the largest, and perhaps more important items (such as rent or mortgage payments) might not be paid. If an item is presented without sufficient funds in your account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item (NSF). The amounts of the overdraft and NSF fees are disclosed elsewhere. By paying items presented at the same time from smallest to largest, we think our policy attains a reasonable balance between minimizing additional cost to you and paying your more important items. We encourage you to make careful records and practice good account management. This will help you to avoid writing checks or drafts without sufficient funds and incurring the resulting fees.

Account Agreement. Your application for Membership in the Credit Union as well as your use of any Credit Union Membership privileges constitutes an acknowledgement and consent to the terms and conditions of your accounts as set forth in this Account Agreement and all other accompanying Disclosures provided to you. Share Drafts & Other Access Devices. We may reject any share draft or other Account access device which does not meet Our standards for acceptance by Us, whether such standards are established by law, regulation or Our own policy. Payment Order of Of Items. The law permits us to pay items (such as checks or drafts) drawn on your account in any order. To assist you in handling your account with us, we are providing you with the following information regarding how we process the items that you authorizewrite. When processing items drawn on your account, our policy is to pay them in the order that they are received. The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. There is no policy that is favorable to every instance. If the smallest items are paid first, you may have fewer NSF or overdraft fees, but the largest, and perhaps more important items (such as rent or mortgage payments) might not be paid. If an item is presented without sufficient funds in your account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item (NSF). The amounts of the overdraft and NSF fees are disclosed elsewhere. By paying items presented at in the same time from smallest to largestorder that we receive them, we think our policy attains a reasonable balance between minimizing additional cost to you and paying your more important items. We encourage you to make careful records and practice good account management. This will help you to avoid writing checks or drafts without sufficient funds and incurring the resulting fees.

Account Agreement. Your This application for Membership in the Credit Union Union, as well as your the use of any Credit Union Membership privileges constitutes an acknowledgement and consent to the terms and conditions of your the accounts as set forth in this Account Agreement and all other accompanying Disclosures provided provided. All accounts are nonassignable and nontransferable to youthird parties. Share Drafts & Other Access DevicesDevises. We may reject any share draft or other Account access device which does not meet Our standards for acceptance by Us, whether such standards are established by law, regulation or Our own policy. Payment Order of Items. The law permits us to pay items (such as checks or drafts) drawn on your the account in any order. To assist you in the handling your account of accounts with us, we are providing you with the following information regarding how we process the items that you authorizeare presented for payment. When processing items drawn on your the account, our policy is to pay them in the order that they are received. The order in which items are paid is important if there is not enough money in your the account to pay all of the items that are presented. There is no policy that is favorable to every instance. If the smallest items are paid first, you there may have be fewer NSF or overdraft fees, but the largest, and perhaps more important items (such as rent or mortgage payments) might not be paid. If an item is presented without sufficient funds in your the account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item (NSF). The amounts of the overdraft and NSF fees are disclosed elsewhere. By paying items presented at the same time from smallest to largest, we think our policy attains a reasonable balance between minimizing additional cost to you the account and paying your more important items. We encourage you to make careful records and practice good account management. This will help you to avoid writing checks or drafts without sufficient funds and incurring the resulting fees. Notice of Receipt of ACH Items. Under the operating rules of the National Automated Clearing House Association which are applicable to ACH transactions involving the account and as permitted by law, we are not required to give next day notice of receipt of an ACH item, and we will not do so. We will continue to notify you of the receipt of payments in the periodic statements we provide. Provisional Payment (ACH Origination). Credits given by any Receiving Depository Financial Institution to the receiver with respect to any automated clearing house credit entries subject to Article 4A of the Uniform Commercial Code (UCC-4A), are provisional until the Receiving Depository Financial Institution has received final settlement through a Federal Reserve Bank or has otherwise received payment as provided in §4A-403(a) of UCC-4A. If the Receiving Depository Financial Institution does not receive such final settlement or payment, then they shall be entitled to a refund from the receiver of the amount so credited, and we shall not be deemed to have paid the receiver the amount of such entry. Provisional Payment (ACH Receipt). Credit given by us to the account with respect to any automated clearinghouse credit entry is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to the account in connection with such entry, and the party making payment to the account via such entry (i.e., the originator of the entry) shall not be deemed to have paid the amount of such entry. USA PATRIOT ACT In accordance with the USA PATRIOT ACT, Federal law requires all financial institutions to obtain, verify, and record information that identifies each individual or entity opening an account. This includes all personal and commercial accounts including loan and deposit accounts, as well as trust, brokerage, insurance, and investment management accounts. What This Means to Our Members When you open an account for an organization, you will be asked for your name, address, Social Security or tax identification number, date of birth (if applicable) and other information that will allow OU Federal Credit Union to identify you. You will also be asked to furnish your driver’s license or other identifying documents. We are required to follow this procedure each time an account is opened, or authorized signers are added, even if you are a current member of OU Federal Credit Union.

Account Agreement. Your This application for Membership in the Credit Union Union, as well as your the use of any Credit Union Membership privileges constitutes an acknowledgement and consent to the terms and conditions of your the accounts as set forth in this Account Agreement and all other accompanying Disclosures provided provided. All accounts are nonassignable and nontransferable to youthird parties. Share Drafts & Other Access DevicesDevises. We may reject any share draft or other Account access device which does not meet Our standards for acceptance by Us, whether such standards are established by law, regulation or Our own policy. Payment Order of Items. The law permits us to pay items (such as checks or drafts) drawn on your the account in any order. To assist you in the handling your account accounts with us, we are providing you with the following information regarding how we process the items that you authorizepresent for payment. When processing items drawn on your the account, our policy is to pay them in the order that they are received. The order in which items are paid is important if there is not enough money in your the account to pay all of the items that are presented. There is no policy that is favorable to every instance. If the smallest items are paid first, you there may have be fewer NSF or overdraft fees, but the largest, and perhaps more important items (such as rent or mortgage payments) might not be paid. If an item is presented without sufficient funds in your the account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item (NSF). The amounts of the overdraft and NSF fees are disclosed elsewhere. By paying items presented at the same time from smallest to largest, we think our policy attains a reasonable balance between minimizing additional cost to you the account and paying your more important items. We encourage you to make careful records and practice good account management. This will help you to avoid writing checks or drafts without sufficient funds and incurring the resulting fees. Notice of Receipt of ACH Items. Under the operating rules of the National Automated Clearing House Association which are applicable to ACH transactions involving the account and as permitted by law, we are not required to give next day notice of receipt of an ACH item, and we will not do so. We will continue to notify of the receipt of payments in the periodic statements we provide. Provisional Payment (ACH Origination). Credits given by any Receiving Depository Financial Institution to the receiver with respect to any automated clearing house credit entries subject to Article 4A of the Uniform Commercial Code (UCC­4A), are provisional until the Receiving Depository Financial Institution has received final settlement through a Federal Reserve Bank, or has otherwise received payment as provided in §4A­403(a) of UCC­4A. If the Receiving Depository Financial Institution does not receive such final settlement or payment, then they shall be entitled to a refund from the receiver of the amount so credited, and we shall not be deemed to have paid the receiver the amount of such entry. Provisional Payment (ACH Receipt). Credit given by us to the account with respect to any automated clearinghouse credit entry is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to the account in connection with such entry, and the party making payment to the account via such entry (i.e., the originator of the entry) shall not be deemed to have paid the amount of such entry. USA PATRIOT ACT In accordance with the USA PATRIOT ACT, Federal law requires all financial institutions to obtain, verify, and record information that identifies each individual or entity opening an account. This includes all personal and commercial accounts including loan and deposit accounts, as well as trust, brokerage, insurance, and investment management accounts. What This Means To Our Members When you open an account for an organization, you will be asked for your name, address, Social Security or tax identification number, date of birth (if applicable) and other information that will allow OU Federal Credit Union to identify you. You will also be asked to furnish your driver’s license or other identifying documents. We are required to follow this procedure each time an account is opened, or authorized signers are added, even if you are a current member of OU Federal Credit Union.