Minor Account. A Primary Share may be issued in the name of a minor (an individual under age 18). An adult is required to be joint on the account. Terms applicable to all account types Signatures and Endorsements You agree to sign as your signature appears on the membership application when drawing checks or other items. If, in good faith, we believe your signature is not genuine we will refuse to pay any check drawn on your account. We may also refuse to honor any check that is not on a form acceptable to us. If you have indicated more than one signature is required in connection with a check or other order or instruction for the payment, transfer or withdrawal of funds (an “item”) drawn on your account, we will have no liability to you if an item is deposited to or paid against your account with fewer than the number of signatures you have indicated as being required, provided at least one of the required signatures appears on the item. We will have no liability to you for failing to detect a forgery of your signature or an alteration of one of your items, if the forgery or alteration is such that a person could be expected not to detect it. Because of the large volume of checks processed by us, we are unable to look for special instructions or dates on each check. Accordingly, we may pay a check even though special instructions on the check might, if we knew about them, cause us to refuse payment. We will not be liable if we pay checks contrary to written special instructions, even if payment results in a refusal to honor other checks written by you on this account. All transaction items presented for deposit must be properly endorsed. Endorsements on the back of the check should be limited to the 1-1/2” designated on the back of each check. The remainder of the back of the check must be left clear for our credit union endorsement and subsequent financial institution endorsements. You authorize us to accept checks or other instruments for credit to the account and to supply any needed endorsement if you have neglected to endorse the instrument. If stamps or information placed on the back of a check makes our endorsement illegible, you agree to hold us harmless in any resulting delay in the return of the check. You are responsible for any loss if the loss is due to a delay in the return of an item where the delay is caused by material appearing on the back of the item including carbon bands, blacked-out areas and printed or written text appearing in the improper area.
Minor Account. A Primary Share may be issued in the name of a minor (an individual under age 18). An adult is required to be joint on the account.
Minor Account. Any Account originated pursuant to a ------------- Cardholder Agreement with a minor and identified in Schedule 1.97, as such schedule shall have been updated through the Cut-Off Date to reflect Accounts no longer in existence at such time.
Minor Account. We may require an Account established by a minor to be a Multiple Party Account with an Owner who has reached the age of majority and who will be jointly and severally liable to us for any returned item, overdraft, or unpaid Account charges or other amounts owed to us. The Credit Union may pay funds to a minor without regard to his or her minority. Unless a parent or guardian is an Account Owner, the parent or guardian will not have access to the Account. We have no duty to inquire about the propriety of any transaction on a minor Account, and we will not change the ownership on the Account when the minor reaches the age of majority unless authorized in writing by all Account Owners. CHECKS AND WITHDRAWALS 5
Minor Account. Rate Information: The dividend rate and annual percentage yield may change every quarter. We may change the dividend rate for your account as determined by the credit union board of directors. Compounding and crediting – Dividends will be compounded every quarter. Dividends will be credited to your account every quarter.
