Common use of Checking Accounts Clause in Contracts

Checking Accounts. If you maintain a balance of less than $250 in your checking account and you have not made a withdrawal from, deposit to, or transfer involving the account in more than sixty (60) days, we may classify your checking account as inactive. You understand and agree that inactive checking account(s) that fall into this category will be closed by us, and we will transfer the entire checking account balance into a regular Savings Account and be subject to all terms and conditions applicable to regular Savings Accounts; including minimum balances requirements to (a) avoid monthly service fees, and to (b) obtain disclosed Annual Percentage Yield (APY). Please refer to the regular Savings Accounts section in this document, Loan & Deposit Rate Summary, and Schedule of Fees & Services for details. YOUR ABILITY TO WITHDRAW FUNDS This policy statement applies to “transaction” accounts. Transaction accounts, in general, are accounts which permit an unlimited number of payments to third persons and an unlimited number of telephone and preauthorized transfers to other accounts of yours with us. Share draft accounts are the most common transaction accounts. Feel free to ask us whether any of your other accounts might also be under this policy. Our policy is to make funds from your cash and check deposits available to you on the next business day after the day we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once the funds are available, you can withdraw them in cash, and we will use the funds to pay checks that you have written. Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit. For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit before closing on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after closing or on a day, we are not open, we will consider that the deposit was made on the next business day we are open. If you make a deposit at an ATM before 3:00 P.M. on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit at an ATM after 3:00 P.M. or on a day we are not open, we will consider that the deposit was made on the next business day we are open. If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it. LONGER DELAYS MAY APPLY Case-by-case delays. In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the second business day after the day of your deposit. The first $225 of your deposits, however, will be available on the first business day. If we are not going to make all of the funds from your deposit available on the first business day, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available. Safeguard exceptions. In addition, funds you deposit by check may be delayed for a longer period under the following circumstances: We believe a check you deposit will not be paid. You deposit checks totaling more than $5,525 on any one day. You redeposit a check that has been returned unpaid. You have overdrawn your account repeatedly in the last six months. There is an emergency, such as failure of computer or communications equipment. We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the seventh business day after the day of your deposit.

Checking Accounts. If you maintain The Credit Union may refuse any check or other item drawn against your account or used to withdraw funds from your account if it is not on a balance form approved by us. Providers of check forms we approve are set forth in the Fee Schedule. We also reserve the right to refuse any check or other item drawn against your account or used to withdraw funds from your account if made in a manner not specifically authorized for your account, if made more frequently or in a greater number than specifically permitted for your account, or if made in an amount less than $250 in your checking account and you have not made a the minimum withdrawal from, deposit to, or transfer involving the account in more than sixty (60) days, specifically permitted for your account. If we may classify your checking account as inactive. You understand and agree that inactive checking account(s) that fall into this category will be closed accept a check or other item not on a form approved by us, and we you will transfer be responsible for any loss by us in handling the entire checking item. We may pay checks or other items drawn upon your account balance into a regular Savings Account and be subject to all terms and conditions applicable to regular Savings Accounts; including minimum balances requirements to in accordance with Section 9 (a) avoid monthly service feesof this Membership Agreement, and even if paying a particular check or item results in an insufficient balance in your account to (b) obtain disclosed Annual Percentage Yield (APY)pay one or more other items that otherwise could have been paid out of your account. Please refer Because of the nature of the Credit Union check program, neither the Credit Union nor any other processing entities shall be responsible for the authenticity of the checks with regard to the regular Savings Accounts section in this documentsignature or alterations and checks when presented shall be paid without verification. We may disregard all information on, Loan & Deposit Rate Summaryor any writing or memorandum attached to any check or item except for your signature, the amount and Schedule of Fees & Services the information that is magnetically encoded. You agree that the Credit Union did not fail to use ordinary care because our procedures do not provide for detailssight examination. YOUR ABILITY TO WITHDRAW FUNDS This policy statement applies You will notify us immediately if you learn or have reason to “transaction” accounts. Transaction accounts, in general, are accounts which permit an unlimited number of payments to third persons and an unlimited number of telephone and preauthorized transfers to other accounts of yours with us. Share draft accounts are the most common transaction accounts. Feel free to ask us whether know that any of your other accounts might also be under this policy. Our policy is to make funds from your cash and check deposits available to you on the next business day after the day we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once the funds are available, you can withdraw them in cash, and we will use the funds to pay checks that you have written. Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit. For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidaysbeen lost or stolen. If you make are negligent in safeguarding your checks or if there is a deposit before closing on a business day that we are open, we will consider that day processing problem due to be the day your use of your deposit. However, if you make a deposit after closing or on a day, we are not open, we will consider that the deposit was made on the next business day we are open. If you make a deposit at an ATM before 3:00 P.M. on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit at an ATM after 3:00 P.M. or on a day we are not open, we will consider that the deposit was made on the next business day we are open. If we cash a check for you that is drawn on another bank, printer we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it. LONGER DELAYS MAY APPLY Case-by-case delays. In some casesdo not approve, we will not make all have any liability or responsibility for any losses you incur as a result if we act in good faith pursuant to standard commercial practices. You understand that when paid, your original check (or any substitute check) becomes the property of the funds that you deposit by check available to you on the first business day after the day of your deposit. Depending on the type of check that you deposit, funds Credit Union and may not be available until returned to you. We have no obligation to retain the second business day after the day originals of any checks or other documentation. You agree to keep a copy of your deposit. The first $225 of your deposits, however, will be available on the first business day. If we are not going original check in order to make all of the funds from your deposit available on the first business day, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your depositverify its validity. If you will need the funds from a deposit right awayrequest us to provide you with an original check or sufficient copy, you should ask us when agree that we may provide a copy or an electronic image of the funds will be availableoriginal check. Safeguard exceptions. In addition, funds The Credit Union may charge you deposit by check may be delayed for a longer period under the following circumstances: We believe a check you deposit will not be paid. You deposit checks totaling more than $5,525 on any one day. You redeposit a check that has been returned unpaid. You have overdrawn your account repeatedly multiple fees as set forth in the last six months. There is an emergency, such Fee Schedule for each requested item as failure of computer or communications equipment. We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the seventh business day after the day of your depositapplicable.

Checking Accounts. If you maintain have a balance Checking Account with us, you can make a withdrawal by writing a check. You may also be able to make withdrawals or transfers at ATMs or through other electronic means. Statement Savings Accounts: You can make withdrawals from any Statement Savings Account in person or by mail by using our withdrawal slips. You may also be able to make withdrawals or transfers at ATMs or through other electronic means. Money Market Accounts: You can make a withdrawal from your Money Market Account in person or by mail by using our withdrawal slips or by writing a check (from certain types of less Money Market Accounts). You may also be able to make withdrawals or transfers at ATMs or through other electronic means. Limitations: See Part II of this Agreement for information about limitations on withdrawals from your accounts. Checks: You agree that we may pay checks drawn on your account that are presented to us for payment, regardless of the date of the check, including postdated checks. We may pay checks that are presented more than $250 six (6) months after the date of the check and are not subject to a current stop payment order, but we are not obligated to do so. Authorized Signers You agree to provide us with written notice, in a form that is satisfactory to us, of the name, signature and title of each person who is authorized to sign checks and to take other actions with respect to your business account on your behalf. You also agree to provide evidence of such persons’ authority in a form that is satisfactory to us. We may refuse to recognize any resolution affecting the account that is not on our form or that appears to us to be incomplete or improperly executed. We may also provide other means by which you may authorize users of your account. We may, but are not obligated to, honor checks signed or other actions taken by a person concerning whom you have not provided such notice or authorization. Each person signing the signature card or completing other account opening or service requesting requirements represents and agrees that they are fully authorized to execute all documents or otherwise complete our requirements in their stated capacity; have furnished all documents or other information necessary to demonstrate that authority; and will furnish other documents and complete other requirements as we may request from time to time. You agree that any authorized person may act singly, unless you have given us written instructions to the contrary with respect to signatures on a check as laid out below. Until you notify us otherwise in writing and we have had the opportunity to act on such notice, we may rely on the authority of each person you have told us is authorized to use your account without any duty to inquire regarding the circumstances of the issuance of checks or the taking of other actions. However, we may make such an inquiry and we need not act until we have received a satisfactory response to such an inquiry. Two-Signature Requirement on Checks We offer accounts on which two (2) or more signatures are required for checks or checking withdrawal tickets over a certain dollar amount. This does not apply to withdrawals by telephone, wire transfer, ATM, Debit Card, POS, ACH, online, mobile or other electronic means. You can elect to use this service by filling out forms provided by us. The monthly fee for this service is listed in the Business Banking Fee Schedule. If you indicate on your checks, signature card or other account documents that more than one signature is required for withdrawal and you have not made a withdrawal fromcompleted the forms we require, deposit to, or transfer involving this indication is for your own internal procedures and is not binding on us. If you have not completed the account in more than sixty (60) daysforms we require, we may classify your checking account as inactive. You understand and agree that inactive checking account(s) that fall into this category will be closed by us, and we will transfer the entire checking account balance into a regular Savings Account and be subject to all terms and conditions applicable to regular Savings Accounts; including minimum balances requirements to (a) avoid monthly service fees, and to (b) obtain disclosed Annual Percentage Yield (APY). Please refer to the regular Savings Accounts section in this document, Loan & Deposit Rate Summary, and Schedule of Fees & Services for details. YOUR ABILITY TO WITHDRAW FUNDS This policy statement applies to “transaction” accounts. Transaction accounts, in general, are accounts which permit an unlimited number of payments to third persons and an unlimited number of telephone and preauthorized transfers to other accounts of yours with us. Share draft accounts are the most common transaction accounts. Feel free to ask us whether any of your other accounts might also be under this policy. Our policy is to make pay out funds from your cash and account if the check deposits available or checking withdrawal ticket is signed or approved by any one of the persons authorized to sign on the account. We are not liable to you on if we do this. We have the next business day after the day we receive right to charge back your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once the funds are available, you can withdraw them in cash, and we will use the funds to pay checks that you have written. Please remember that even after account if we have made funds available to you, and given you have withdrawn the funds, you are still responsible credit for checks you deposit an item that are is returned to us unpaid and unpaid. There will be a Returned Deposited Item fee imposed for any other problems involving your deposit. For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidayseach such item. If you make use a deposit before closing check to withdraw money from your account, the check must be on a business day preprinted form that we are open, we will consider that day have supplied to be the day of your deposit. However, if you make a deposit after closing or on a day, form that meets the Bank’s check encoding standards. We will not be required to accept checks that do not meet these standards. We will not be bound by or obligated to comply with any notation or memorandum on a check unless we are have agreed in advance to do so. You promise to notify us immediately if any check is not open, we delivered or is lost or stolen. All items must be endorsed exactly as drawn. You will consider that the deposit was made be liable for any losses or delays caused by nonconforming endorsements or by other marks on the next business day we are open. If you make a deposit at an ATM before 3:00 P.M. on a business day that we are open, we will consider that day to be the day back of your deposit. However, if you make a deposit at an ATM after 3:00 P.M. or on a day we are not open, we will consider that the deposit was made on the next business day we are open. If we cash a check for you that is drawn on another make our endorsement or any other bank, we may withhold ’s endorsement difficult to read. Processing and Posting of Items At the availability end of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it. LONGER DELAYS MAY APPLY Case-by-case delays. In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the second business day after the day of your deposit. The first $225 of your deposits, however, will be available on the first business day. If we are not going to make all of the funds from your deposit available on the first each business day, we will notify you at the time you make process and post items to your depositaccount. We will also tell you when the funds will be available. If When we “post” transactions, “credits” (deposits or any other credit to your deposit is not made directly account) are added to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your deposit. If you will need the funds available balance and “debits” (withdrawals and fees) are subtracted from a deposit right away, you should ask us when the funds will be available. Safeguard exceptions. In addition, funds you deposit by check may be delayed for a longer period under the following circumstances: We believe a check you deposit will not be paid. You deposit checks totaling more than $5,525 on any one day. You redeposit a check that has been returned unpaid. You have overdrawn your account repeatedly in the last six months. There is an emergency, such as failure of computer or communications equipment. We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the seventh business day after the day of your deposit.your

Checking Accounts. If you maintain have a balance of less than $250 in your checking account and Checking Account with us, you have not made can make a withdrawal from, deposit toby writing a check. You may also be able to make withdrawals or transfers at ATMs or through other electronic means. Passbook Savings Accounts: You can make withdrawals from any Passbook Savings Account in person by using our withdrawal slip and presenting your passbook, or transfer involving by mail by sending a properly signed request and your passbook. Statement Savings Accounts: You can make withdrawals from any Statement Savings Account in person or by mail by using our withdrawal slips. You may also be able to make withdrawals or transfers at ATMs or through other electronic means. Money Market Accounts: You can make a withdrawal from your Money Market Account in person or by mail by using our withdrawal slips or by writing a check (Prime Liquid Assets Accounts only). You may also be able to make withdrawals or transfers at ATMs or through other electronic means. Limitations: See Parts III and VI of this Agreement for information about limitations on withdrawals from your accounts. Checks: You agree that we may pay checks drawn on your account that are presented to us for payment, regardless of the account in date of the check, including postdated checks. We may pay checks that are presented more than sixty six (606) days, we may classify your checking account as inactive. You understand months after the date of the check and agree that inactive checking account(s) that fall into this category will be closed by us, and we will transfer the entire checking account balance into a regular Savings Account and be are not subject to all terms and conditions applicable a current stop payment order, but we are not obligated to regular Savings Accounts; including minimum balances requirements to do so. No Two-Signature Requirements on Accounts We do not offer accounts on which two (a2) avoid monthly service feesor more signatures are required for a check or withdrawal. If you indicate on your checks or signature card or other account documents that more than one (1) signature is required for withdrawal, and to (b) obtain disclosed Annual Percentage Yield (APY)this indication is for your own internal procedures. Please refer to the regular Savings Accounts section in this document, Loan & Deposit Rate Summary, and Schedule of Fees & Services for details. YOUR ABILITY TO WITHDRAW FUNDS This policy statement applies to “transaction” accounts. Transaction accounts, in general, are accounts which permit an unlimited number of payments to third persons and an unlimited number of telephone and preauthorized transfers to other accounts of yours with It is not binding on us. Share draft accounts are the most common transaction accounts. Feel free to ask us whether any of your other accounts might also be under this policy. Our policy is to make We may pay out funds from your cash and check deposits available account if the check, item, or other withdrawal instruction is signed or approved by any one of the persons authorized to sign on the account. We are not liable to you on if we do this. We have the next business day after the day we receive right to charge back your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once the funds are available, you can withdraw them in cash, and we will use the funds to pay checks that you have written. Please remember that even after account if we have made funds available to you, and given you have withdrawn the funds, you are still responsible credit for checks you deposit an item that are is returned to us unpaid and unpaid. There will be a Returned Deposited Item fee imposed for any other problems involving your deposit. For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidayseach such item. If you make use a deposit before closing check to withdraw money from your account, the check must be on a business day preprinted form that we are open, we will consider that day have supplied to be the day of your deposit. However, if you make a deposit after closing or on a day, form that meets the Bank’s check encoding standards. We will not be required to accept checks that do not meet these standards. We will not be bound by or obligated to comply with any notation or memorandum on a check unless we are have agreed in advance to do so. You promise to notify us immediately if any check is not open, we delivered or is lost or stolen. All items must be endorsed exactly as drawn. You will consider that the deposit was made be liable for any losses or delays caused by nonconforming endorsements or by other marks on the next business day we are open. If you make a deposit at an ATM before 3:00 P.M. on a business day that we are open, we will consider that day to be the day back of your deposit. However, if you make a deposit at an ATM after 3:00 P.M. or on a day we are not open, we will consider that the deposit was made on the next business day we are open. If we cash a check for you that is drawn on another make our endorsement or any other bank, we may withhold ’s endorsement difficult to read. Processing and Posting of Items At the availability end of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it. LONGER DELAYS MAY APPLY Case-by-case delays. In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the second business day after the day of your deposit. The first $225 of your deposits, however, will be available on the first business day. If we are not going to make all of the funds from your deposit available on the first each business day, we will notify you at the time you make process and post items to your depositaccount. We will also tell you when the funds will be available. If When we “post” transactions, “credits” (deposits or any other credit to your deposit is not made directly account) are added to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your deposit. If you will need the funds available balance and “debits” (withdrawals and fees) are subtracted from a deposit right away, you should ask us when the funds will be available. Safeguard exceptions. In addition, funds you deposit by check may be delayed for a longer period under the following circumstances: We believe a check you deposit will not be paid. You deposit checks totaling more than $5,525 on any one day. You redeposit a check that has been returned unpaid. You have overdrawn your account repeatedly in the last six months. There is an emergency, such as failure of computer or communications equipment. We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the seventh business day after the day of your deposit.your