Notices

Information About Your Credit Union Accounts

Regular Share Savings Account

Christmas Club Account

Vacation Club Account

Mortgage Account

Moore Money Market Account

IRA Share Account

Share Draft Account

Check less Checking Account

Share Certificate Account

IRA Share Certificates

Electronic Funds Transfers

Funds Availability

Unclaimed Property Law

Account Agreement


Moore West Federal Credit Union
2450 Washington Avenue, Suite 180
San Leandro, CA 94577
(510) 325-9090
(800) 678-2002

Click Here For Our Fee Schedule


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Your Truth-In-Savings Disclosure
To open your account, complete the appropriate account card and return it to our Member Services Representative. Please read this disclosure completely and retain it with your personal records.

All agreements and disclosures shall be construed in accordance with the provisions of the California Uniform Commercial Code (UCC). Share accounts, share draft accounts and share certificate accounts are subject to the requirements below and such other terms and conditions as established by the Board of Directors and as contained in the account agreements.


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GENERAL INFORMATION ABOUT ALL OF OUR ACCOUNTS

Par Value
The par value of a share in the Moore West Federal Credit Union is $25.

Accrual of Dividends
Dividends begin to accrue on the business day you deposit non-cash items (e.g. checks) to your account if deposited before the close of business.

If you close your share, share draft or share certificate account before dividends are credited, you will not receive accrued dividends.

Dividend Rates
The initial dividend rate and annual percentage yield on our share, share draft and share certificate accounts are stated on the Rate Schedule accompanying this Disclosure. Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period.

Balance Information
We compute the balance in our share, share draft and share certificate accounts to determine the dividends you will be paid by using the average daily balance method which applies a periodic rate to the average daily balance in the account for the period. We calculate the average daily balance by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period.

Bylaw Requirements
The maximum amount of shares which may be held by any one member shall be established from time to time by resolution of the board. A member who fails to complete payment of one share within 6 months of his admission to membership, or within 6 months from the increase in the par value in shares, or a member who reduces his share balance below the par value of one share and does not increase the balance to at least the par value of one share within 6 months of the reduction may be terminated from membership at the end of a dividend period.

Shares may be transferred only from one member to another, by written instrument in such form as the Credit Union may prescribe. No transfer of voting rights or other membership privilege is permitted by virtue of transfer to or co-ownership of share by nonmembers. The Credit Union reserves the right, at any time, to require members to give, in wriying, not less than 7 days and not more that 60 days notice of intention to withdraw the whole or any part of the amounts so paid in by them.

No member may withdraw shareholdings that are pledged as required for security on loans without the written approval of the credit committee or a loan officer, except to the extent that such shares exceed the member's total primary and contingent liability to the Credit Union. No member may withdraw any shareholdings below the amount of his/her primary or contingent liability to the Credit Union if he/she is delinquent as a borrower, or if borrowers for whom he/she is co-maker, endorser, or guarantor are delinquent, without the written consent of the credit committee or loan officer.

Requirement to Maintain a Regular Share Savings Account
You must open a Regular Share Savings Account to open any subsequent accounts. You must maintain the Regular Share Savings Account to avoid closure of that account and any subsequent accounts.

ABOUT OUR SHARE ACCOUNTS

Moore West Federal Credit Union's share accounts let you deposit your money in a savings account and withdraw your money at any time (with the exception of IRA's). Our share accounts are the Regular Share Savings Account, the Christmas Club Account, the Vacation Club Account, the Mortgage Account and the IRA Share Account.

Rate Information
Our share accounts are designated as variable rate accounts on the Rate Schedule. This rate and yield may change at any time at the Credit Union's discretion.

About Our Regular Share Savings Account

Dividend Compounding and Crediting

Dividends will be compounded quarterly and will be credited quarterly. For the share accounts the dividend period is quarterly. For example, the beginning date of the first dividend period of the calendar year is January 1 and the ending date is March 31. All other dividend periods follow the same pattern of dates. The dividend declaration date follows the ending date of a dividend period. The most recent dividend declaration date is reflected on the accompanying Rate Schedule.

Minimum Balance and Deposit Requirements
The maximum deposit required for you to open your Regular Share Savings Account is $25 and you must maintain this minimum average daily balance in order to obtain the Annual Percentage Yield stated on the Rate Schedule and to avoid closure.

Transaction Limitations
The maximum number of withdrawals you may make is 3 per quarter. If you exceed the transfer/withdrawal limitations in any quarter, your account will be subject to the fee stated on the Fee Schedule.

About Our Christmas Club Account

Dividend Compounding and Crediting
Dividends will be compounded quarterly and will be credited quarterly. For the share accounts the dividend period is quarterly. For example, the beginning date of the first dividend period of the calendar year is January 1 and the ending date is March 31. All other dividend periods follow the same pattern of dates. The dividend declaration date follows the ending date of a dividend period. The most recent dividend declaration date is reflected on the accompanying Rate Schedule.

Minimum Balance and Deposit Requirements
The minimum deposit required for you to open your Christmas Club Account is $1. However, no minimum balance is required to be maintained in order to obtain the Annual Percentage Yield stated on the Rate Schedule.

Transaction Limitations
Our Christmas Club Account may be opened at any time. Funds will be disbursed to you on or about the first week of November each year. No withdrawals may be made prior to the disbursement date. If a withdrawal is necessary, the full balance must be withdrawn, the account will be closed, and you will be charged the early closing fee stated on the Fee Schedule. However, this fee will not be charged if the Christmas Club Account is closed within the first seven days.

About Our Vacation Club Account

Dividend Compounding and Crediting
Dividends will be compounded quarterly and will be credited quarterly. For the share accounts the dividend period is quarterly. For example, the beginning date of the first dividend period of the calendar year is January 1 and the ending date is March 31. All other dividend periods follow the same pattern of dates. The dividend declaration date follows the ending date of a dividend period. The most recent dividend declaration date is reflected on the accompanying Rate Schedule.

Minimum Balance and Deposit Requirements
The minimum deposit required for you to open your Vacation Club Account is $1. However, no minimum balance is required to be maintained in order to obtain the Annual Percentage Yield stated on the Rate Schedule.

Transaction Limitations
No more than six pre-authorized, automatic, or telephonic transfers may be made from your savings account to another account at the Credit Union or to a third party in any calendar month, and no more than three of these six transfers may be made by check, draft, debit card, or similar order payable to a third party. If you exceed, or attempt to exceed, these transfer limits, the excess transfer requests may be refused or reversed, a fee may be imposed on the excess transfer request, and the Credit Union may reclassify or close your account.

About Our Mortgage Account

This account may be established for the purpose of accumulating funds to pay property taxes and insurance premiums by a real estate loan funded by the Credit Union.

Dividend Compounding and Crediting
Dividends will be compounded quarterly and will be credited quarterly. For the share accounts the dividend period is quarterly. For example, the beginning date of the first dividend period of the calendar year is January 1 and the ending date is March 31. All other dividend periods follow the same pattern of dates. The dividend declaration date follows the ending date of a dividend period. The most recent dividend declaration date is reflected on the accompanying Rate Schedule.

Minimum Balance and Deposit Requirements
The minimum deposit required for you to open your Mortgage Account is $1. However, no minimum balance is required to be maintained in order to obtain the Annual Percentage Yield stated on the Rate Schedule.

Transaction Limitations
Withdrawals from this account are only permitted to make periodic property tax and insurance premium payments.

About Our Moore Money Market Account

Dividend Compounding and Crediting
Dividends will be compounded daily and will be credited monthly. For the Money Market Account the dividend period is monthly. For example, the beginning date of the first dividend period of the calendar year is January 1 and the ending date is January 31st. All other dividend periods follow the same pattern of dates. The dividend declaration date follows the ending date of a dividend period. The most recent dividend declaration date is reflected on the accompanying Rate Schedule.

Minimum Balance and Deposit Requirements
The minimum deposit required for you to open your Money Market Account is $2500. You must maintain the minimum average daily balance of $2500 to obtain the Annual Percentage Yield stated on the Rate Schedule and to avoid closure.

Transaction Limitations
The minimum amount you may withdraw is $500. The maximum number of withdrawals you may make is 3 within a calendar month. If you exceed the withdrawal limitations in any calendar month, your account will be subject to the fee stated on the Rate Schedule.

About Our IRA Share Account

Minimum Balance and Deposit Requirements
The minimum deposit required for you to open your IRA Share Account is $1. However, no minimum balance is required to be maintained in order to obtain the Annual Percentage Yield stated on the Rate Schedule.

Transaction Limitations
No more than six pre-authorized, automatic, or telephonic transfers may be made from your savings account to another account at the Credit Union or to a third party in any calendar month, and no more than three of these six transfers may be made by check, draft, debit card, or similar order payable to a third party. If you exceed, or attempt to exceed, these transfer limits, the excess transfer requests may be refused or reversed, a fee may be imposed on the excess transfer request, and the Credit Union may reclassify or close your account.

Incorporation of IRA Agreement and Disclosures
All other terms and disclosures for our Individual Retirement Accounts are contained in the Credit Union's Individual Retirement Account agreement and disclosure statement, which by this reference is incorporated into this account disclosure in its entirety. When you open your Individual Retirement Account, the Credit Union agreement and disclosure statement will be provided to you.

ABOUT OUR SHARE DRAFT ACCOUNTS

Moore West Federal Credit Union offers share draft accounts which let you withdraw your money and write checks against your account at any time. Our share draft accounts are the Share Draft Account and the Check less Checking Account.

Rate Information
Our share draft account is designated a variable rate account on the Rate Schedule. This rate and yield may change at any time at the Credit Union's discretion.

About Our Share Draft Account

Dividend Compounding and Crediting

Dividends will be compounded quarterly and will be credited quarterly. For the share draft account the dividend period is quarterly. For example, the beginning date of the first dividend period of the calendar year is January 1 and the ending date is March 31. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period. The most recent dividend declaration date is reflected on the accompanying Rate Schedule.

Minimum Balance and Deposit Requirements
The minimum deposit required for you to open your share draft account is $25. However, no minimum balance is required to maintain in order to obtain the Annual Percentage Yield stated on the Rate Schedule. You must maintain a positive balance in your share draft account in order to prevent closure of the account.

About Our Check less Checking Account

Dividend Compounding and Crediting
Dividends will be compounded daily and will be credited quarterly. For the Check less Account the dividend period is quarterly. For example, the beginning date of the first dividend period of the calendar year is January 1 and the ending date is March 31. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period. The most recent dividend declaration date is reflected on the accompanying Rate Schedule.

Minimum Balance and Deposit Requirements
The minimum deposit required for you to open your Check less Checking Account is $5. You must maintain a minimum average daily balance of $1 to avoid closure.

ABOUT OUR SHARE CERTIFICATE ACCOUNTS

Moore West Federal Credit Union's share certificate accounts let you deposit your money for a specified period of time. Our share certificate accounts are the regular Share Certificates and the IRA Share Certificate.

Annual Percentage Yield
The Annual Percentage Yield is based on an assumption that dividends will remain on deposit until maturity. If you make a withdrawal from your account, your earnings will be reduced.

Maturity
Your account will mature as reflected on the Rate Schedule. The maturity date will be stated on the certificate provided to you at the time of opening your account.

Rate Information
Our Share Certificates and IRA Share Certificates are designated fixed rate accounts on the Rate Schedule. You will be paid this rate and yield until maturity.

Dividend Compounding and Crediting
Dividends will be compounded monthly and will be credited monthly and at maturity.

Minimum Balance and Deposit Requirements
The various minimum deposit options required for you to open your Share Certificate and IRA Share Certificate are stated on the accompanying Rate Schedule. You must maintain the appropriate minimum average daily balance in order to obtain the Annual Percentage Yield stated on the Rate Schedule.

Renewal of Account/Grace Period.
Your account will automatically renew at maturity for the same time period as the original term unless you withdraw all of the funds in your account at maturity. There is no grace period following maturity of this account.

Account Limitations
You may not make deposits into or withdrawals of principal from this account until the maturity date. See Early Withdrawal Penalties. You may make withdrawals of dividends from your account at any time after they have been credited.

Early Withdrawal Penalty
We may impose a penalty if you withdraw any of the principal from your account before the maturity date. The penalty imposed shall be as follows:

If the qualifying period is one year or less, the member shall forfeit an amount equal to

a) all dividends for 90 days on the amount withdrawn, or
b) all dividends on the amount withdrawn since the date of issuance or renewal, whichever is less with a minimum equal to 7 days dividends, or
c) if a withdrawal reduces the balance below the required minimum, the account shall be closed and a loss of dividends as in a or b above, whichever is less, will be assessed on the entire amount in the account.

If the qualifying period is more than one year, the member shall forfeit an amount equal to

a) all dividends for 180 days on the amount withdrawn, or
b) all dividends on the amount withdrawn since the date of issuance or renewal, whichever is less with a minimum equal to 7 days dividends, or
c) if a withdrawal reduces the balance below the required minimum, the account shall be closed and a loss of dividends as in a or b above, whichever is less, will be assessed on the entire amount in the account.

Exceptions to Penalties
The penalties stated above will not apply if:

1. The withdrawal is made subsequent to the death of any owner of the share account or the share certificate account, or is made pursuant to the Credit Union's bylaws.
2. The share certificate account is part of a pension plan which qualifies or is qualified to specific tax treatment under Section 401(d) or 408 of the Internal Revenue Code and withdrawal is made to effect distribution of the funds evidenced by such account following the participant's death or disability or upon attaining not less than 70 1/2 years of age or
3. Such withdrawal is made as a result of the voluntary or involuntary liquidation of the Credit Union issuing the account.

About Our IRA Share Certificates

Incorporation of IRA Agreement and Disclosures
All other terms and disclosures for our Individual Retirement Accounts are contained in the Credit Union's Individual Retirement Account agreement and disclosure statement, which by this reference is incorporated into this account disclosure in its entirety. When you open your Individual Retirement Account, the Credit Union agreement and disclosure statement will be provided to you.

ELECTRONIC FUNDS TRANSFER DISCLOSURE AND AGREEMENT

This EFT Disclosure and Agreement as amended from time to time ("Agreement") sets forth the terms and conditions governing the use of the Moore West Federal Credit Union electronic transfer services. Disclosure information that applies to all electronic services offered by Moore West Federal Credit Union is given below, followed by specific information for each service.  This Agreement takes the place of all prior agreements and disclosures governing the use of all electronic services. By retaining, using, or allowing others to use your the electronic services offered by Moore West Federal Credit Union, you are agreeing to be bound by the terms and conditions of this Agreement. In this Agreement, the term "you" and "your(s)" refer to the member, and the terms "us" and "our(s)" refer to Moore West Federal Credit Union.

Personal Identification Number
We will issue you a Personal Identification Number (PIN)/Access Code. This number should be memorized. After memorizing it, you should destroy it. Your accounts can only be accessed by the use of an Access Code or PIN. If you forget your Access Code or PIN, contact the Credit Union and we will issue you a new one.

Right to Receive Documentation of Transactions
You will get a monthly account statement reflecting all of your transactions unless there is no activity in a particular month. In any case you get the statement at least quarterly. Depending on the terminal, you will receive, or you may choose to receive, a receipt at the time you make a transaction at a terminal. If you do receive a receipt, retain the receipt to compare with your monthly statement from the credit union.

Your Liability for Lost, Stolen or Unauthorized Transactions Involving Automated Teller Machine (ATM) Cards, Personal Identification Number (PIN) or Access Code
Tell us AT ONCE if you believe your ATM/POS Card, Personal Identification Number (PIN) or Access Code has been lost or stolen. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum overdraft line of credit if you have one with us). If you tell us within two (2) business days, you can lose no more than $50 if someone used your ATM/POS card, Personal Identification Number (PIN) or Access Code without your permission. If you DO NOT tell us within two (2) business days after you learn of the loss or theft of your ATM/POS card, Personal Identification Number (PIN) or Access Code, and we can prove that we could have stopped someone from using your ATM/POS card, Personal Identification Number (PIN) or Access Code without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time.  If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the periods. If you have authorized someone else to use the ATM/POS card, Personal Identification Number (PIN) or Access Code, you are responsible for all transactions that person or persons initiates at any time, even if the amount or transactions exceed what you may have authorized.

Your Liability for Lost, Stolen or Unauthorized Transactions Involving Debit Cards
Tell us AT ONCE if you believe your Debit Card and/or Personal Identification Number (PIN) has been lost or stolen or if your statement shows transfers that you did not make.  Telephoning is the best way of keeping your possible losses down.  You could lose all the money in your account (plus your maximum overdraft line of credit if you have one with us).  If you tell us within 60 days of our sending your statement, you can lose no more than $50 if someone used your debit card without your permission.  If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the close of the 60 days and before notice to us.  If your delay in notifying us was due to extenuating circumstances beyond your reasonable control, including extended travel, your or a member of your family's death or serious illness, hospitalization, permanent mental impairment or serious physical impairment, unless the circumstance did not reasonably contribute to your delay in notifying us within the 60-day period, we will extend the 60-day period by a reasonable period.

Special Notice to VISA Debit Cardholders
If there is an unauthorized use of your VISA Debit Card or an Interlink transaction, and the transaction takes place on the VISA network, then your liability will be zero ($0.00). This provision limiting your liability does not apply to either VISA commerical cards or ATM cash disbursements. Additionally, your liability with respect to unauthorized transactions may be greater than the above zero ($0.00) liability limit, to the extent allowed under applicable law, if the credit union reasonably determines, based on substantial evidnece, that you were grossly negligent or fraudulent in the handling of your account or card. In any case, to minimize your potential liability you should notify us of any unauthorized use no later than 60 days after your statement was mailed to you.

How to Notify the Credit Union in the Event of an Unauthorized Transaction
If you believe your ATM/POS/Debit Card, PIN or Access Code has been lost or stolen, or that someone has transferred or may transfer money from your account without your permission, call us at 510 352.9090, or write to us at 2450 Washington Avenue, Suite 180, San Leandro, CA 94577.

Business Days
Our business days are Monday through Friday, excluding holidays.

Our Liability for Failure to Make Transfers
If we do not complete a transaction to or from your share or share draft/checking account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will NOT be liable, for instance, if:

a) through no fault of ours, you do not have enough money in your account to make the transaction;
b) the transaction would go over the credit limit on your credit line;
c) the terminal where you were making the transaction did not have enough cash;
d) the ATM or network system was not working properly and you were aware of the malfunction when you started the transaction;
e) circumstances beyond our control (such as fire, flood, power failure, or computer down-time) prevented the transaction, despite reasonable precautions that we have taken;
f) the money in your account is subject to an uncollected funds hold, legal process or any other encumbrance or agreement restricting a transaction;
g) your ATM/POS card has expired, is damaged so that the terminal cannot read the encoding strip, is inactive or because your PIN has been entered incorrectly;
h) your ATM/POS Card or PIN has been reported lost or stolen and we have blocked the account; or
i) the failure to complete the transaction is done to protect the integrity of the system or to protect the security of your account.

There may be other exceptions not specifically mentioned above.

In Case of Errors or Questions About your Electronic Transfers
Telephone us at 510 352.9090 or write us at 2450 Washington Avenue, Suite 180, San Leandro, CA 94577 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.

1. Tell us your name and account number (if any).
2. Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.
3. Tell us the dollar amount of the suspected error.

If you tell us orally, we may required that you send us your complaint or question in writing within 10 business days.

We will tell you the results of our investigation within 10* business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45** days to investigate your complaint or question. If we decide to do this, we will credit your account within 10* business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. (If the error you assert is an unauthorized Visa transaction, other than a cash disbursement at an ATM, we will credit your account within 5 business days unless we determine that the circumstances or your account history warrant a delay, in which case you will receive your credit within 10 business days.) If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account.

If we decide that there was no error, we will send you a written explanation within three business days after we finish our investigation. You make ask for copies of the documents that we used in our investigation.

 

* If you give notice of an error within 30 days after you make the first deposit to your account, we will have 20 business days instead of 10 business days.

**If you give notice of an error within 30 days after you make the first deposit to your account, notice of an error involving a point of sale transaction, or notice of an error involving a transaction initiated outside the U.S. its possessions and territories, we will have 90 days instead of 45 days to investigate.

Charges
In order to obtain the electronic services listed, you must open and maintain a share share draft account. All charges associated with our electronic fund transactions are disclosed in our Rate and Fee Schedule which accompanies this Disclosure and Agreement.

Disclosure of Account Information to Third Parties
We will disclose information to third parties about your account or the transfers you make:

a) when it is necessary to complete the transaction;
b) in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant;
c) in order to comply with government agency or court orders or other legal process; or
d) if you give us your prior oral or written permission

Address Change
Keep the Credit Union informed of your current address to insure correct mailing of monthly statements.

Amendments
The credit union may change the terms and conditions of this Agreement from time to time by mailing written notice to your address as it appears on our records. If any change results in greater cost or liability to you or decreases access to your Account, you will be given at least twenty-one (21) days prior notice of the change. Prior notice may not be given where an immediate change in terms or conditions is necessary to maintain the integrity of the system and/or the security of ATM/POS/Debit Card, PIN or Access Code or designated accounts.

Termination
You may terminate this Agreement with us at any time. The Credit Union reserves the right to terminate this Agreement and/or your use of your ATM/POS/Debit Card, PIN or Access Code with or without cause. We may do so immediately if:

a) you or any authorized user of your ATM/POS/Debit Card, PIN, Access Code or account breaches this or any other agreement with the Credit Union;
b) we have reason to believe that there has been, or might be, an unauthorized use of your ATM/POS/Debit Card, PIN, Access Code or account; or
c) you or any authorized user of your ATM/POS/Debit Card, PIN, Access Code  or account request that we do so.

Collection Costs
You agree to pay the Credit Union our reasonable expenses, including court costs and attorney's fees, for enforcing our rights under this Agreement.

Additional Benefits/Card Enhancements
The Credit Union may from time to time offer additional services to your Account. Some may be at no additional cost to you and others may involve a specified fee. You understand that the Credit Union is not obligated to offer such services and may withdraw or change them at any time.

Waiver Of Rights
The Credit Union can delay enforcing any of the provisions under this Agreement or the law any number of times without losing its right to enforce them at a later date.

Other Agreements
Except as stated otherwise in the Agreement, this Agreement does not alter or amend any of the terms or conditions of any other agreement you may have with the Credit Union.

Severability
If any part of this Agreement should be held to be enforceable, the remaining provisions of this Agreement shall remain in full force and effect.

Who is Bound by this Agreement
Each person who signs the Application agrees to be bound by the terms and conditions of this Agreement. If more than one person signs the application, all signers are jointly and severally liable. The Credit Union can waive or delay enforcement of its rights as to one signer without affecting its ability to enforce its rights as to the other signers. The Agreement is also binding upon your heirs, personal representatives and successors.

Signatures
By using your access to the system, or authorizing anyone else to use your access to the system, and/or by signing the application, you agree to be bound by the terms and conditions of this Agreement and Disclosure.

Consumer Reports
The Credit Union makes credit available to its members on a regular basis. The Applicant(s)/Account Holder(s) of the account authorizes the Credit Union to obtain consumer reports in connection with credit and business transactions involving the Applicant(s)/Account Holder(s), including but not limited to applying for membership, the opening of a share or share/draft account or the issuance of an ATM card, Debit Card, or other service provided by the Credit Union, and the Applicant(s)/Account Holder(s) of the account authorize any person, association, or corporation to furnish on request of this Credit Union, information concerning the affairs of the Applicant(s)/Account Holder(s).  The Applicant(s)/Account Holder(s) also authorizes the Credit Union to furnish information concerning the account to consumer reporting agencies.

Additional Disclosures Applicable to ACH Services

Documentation of Direct Deposits
If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company you can call us at 510 352.9090 to find out whether or not the deposit has been made. If the only possible transfers to or from your account are direct deposits or pre-authorized deposits, you will get at least a quarterly statement from us.

Disclosure of Right to Stop Payment
a) Right to stop payment and procedure for doing so.

If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here's how:

Call us at 510 352.9090, or write us at 2450 Washington Avenue, Suite 180, San Leandro, CA 94577, in time for us to receive your request three business days or more before the payment is scheduled to be made. If you call we may also require you to put your request in writing and get it to us within 14 days after you call.

b) Notice of varying amounts.

If these regular payments vary in amount, the person you are going to pay will tell you 10 days before each payment, when it will be made and how much it will be. You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.

c) Liability for failure to sop payment of pre-authorized transfer.

If you order us to stop one of these payments three business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

Transactions Available
You may use your ACH services to perform the following transactions:

  • Make deposits to your share/share savings or share draft/checking account;
  • Make loan payments;
  • Pay bills directly from your share/share savings or share draft/checking account in the amounts and on the days you request;
  • Authorize a merchant to convert your share draft/check or checking account number to an electronic fund transfer, initiating a debit to your share draft/checking account for the amount of purchase; and
  • Authorize a merchant to debit your share draft/checking account for returned check fees or returned entry debit fees.

All payments and deposits are subject to later verification by us.

Additional Disclosures Applicable to ATM and POS Services

Rules for Use
By using your ATM/POS Card with your personal identification number (PIN) at automated teller machines ("ATM's")or other electronic terminals operated by a participating institution, network system, or company (collectively "terminals"), you authorize us to effect the transactions from or to your share or share draft/checking account(s) in accordance with the instructions given at the terminals. All ATM/POS Card transactions are subject to the terms and conditions of your account agreements with us governing the affected accounts.

ATM Fees
When you use an ATM not owned by Moore West Federal Credit Union, you may be charged a fee by the ATM operator and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer. A fee will not be imposed for use of an ATM or Debit Card issued by Moore West Federal Credit Union for use of an electronic terminal operated by Moore West Federal Credit Union.

Transactions Available
You may use your ATM/POS Card to perform the following transactions:

  • Make deposits to your share or share draft/checking account;
  • Withdraw cash from your share or share draft/checking account and loan account; and 
  • Make account balance inquiries.

Some of the transactions listed above may not be available at all terminals. All payments and deposits are subject to later verification by us.

Limitations on Transactions
You may make ATM cash withdrawals or POS transactions up to $200 from each ATM each 24-hour period as long as your available balance will cover the transaction. Various institutions which participate in networks of which the Credit Union is a member may have withdrawal limits different from the amount set forth herein. In the event that a specific ATM is so limited, you may not be able to withdraw more than the cash limit of that particular ATM. There are no limits on the number of daily POS transactions you may make.

Access Cards
All ATM Cards/POS Cards are non-transferable and belong to the Credit Union. The Credit Union may cancel, modify and restrict the use of any ATM/POS Card upon proper notice or without notice if your account is overdrawn or where necessary to maintain or restore the security of accounts on the ATM system.

ATM Safety
An ATM provides a quick and convenient way to access your money. However, use caution and remember the following safety tips whenever you use an ATM:

  • Be aware of the surroundings, particularly at night.
  • Look for well-lighted ATM's when transacting at night.
  • If you notice anything suspicious when approaching the ATM, return later or use another ATM.
  • Have your transaction ready before you go to the ATM. When you can, fill out any deposit or withdrawal slips/envelopes before leaving your vehicle.
  • Have your ATM card ready, to avoid going through your purse or searching through the contents of your wallet at the ATM site.
  • If you notice anything suspicious while you are transacting business, immediately stop your transaction, put your ATM Card away and leave.
  • Consider having another person accompany you to the ATM.
  • Immediately report all crimes to the ATM operator and to local law enforcement officials.
  • Stand close to the ATM and away from others in line to avoid detection of your PIN or other account information.
  • Put your cash away as soon as the transaction is complete; count the cash later in the safety of your vehicle or home.
  • Never give information to strangers at the ATM or to anyone over the phone. Be aware of fraud or people who pose as Credit Union employees who try to get information from you. This information should only be discussed in person by you at the Credit Union
  • Remember to keep your PIN a secret. Make sure not to write it on your ATM Card or anywhere else in your wallet; thieves can easily figure out the reason for "hidden" or "secret" numbers.

Additional Disclosure Applicable to Audio Response

Transactions Available
You may use your Audio Response Service to perform the following transactions:

  • Obtain account and loan balances;
  • Obtain loan payment due date and pay off information;
  • Obtain last dividend, date and amount;
  • Obtain clearance of specific checks;
  • Request a check withdrawal from your share or share draft/checking account;
  • Transfer funds between your share and share draft/checking accounts;
  • Access your Line of Credit Account to request loan advances;
  • Transfer funds from your Line of Credit to your share or share draft/checking account; and
  • Make loan payments.

All payments and deposits are subject to later verification by us.

Limitations On Transactions
The maximum amount you may withdraw by check is $10,000 during any 24-hour period.

Additional Disclosures Applicable to Debit Card Services

Issuance of Card
"Card" means the Moore West Federal Credit Union Debit Card and any duplicates, renewals or substitutions the Credit Union issues to you; "Account" means the account designated on the application for your Debit Card.

Responsibility for Transactions
You are responsible for all transactions you make with the Card or that you authorize another person to make with the Card.  You understand that if you disclose your Debit Card PIN to anyone, they will have access to all accounts identified by your account number.  If the Account is a joint account, all transactions involving the account are binding on all Account holders.

Merchant Disputes
For POS transactions directly accessing a line of credit, the credit union is not responsible for the refusal of any merchant or financial institution to honor the card. The credit union is subject to claims and defenses (other than tort claims) arising out of goods or services you purchase with the card if you have made a good faith attempt but have been unable to obtain satisfaction from the merchant or service provider and (a) your purchase was made in response to an advertisement the credit union sent or participated in sending you or (b) your purchase cost more than $50 and was made in your state or within 100 miles of your home.

Limitations on Dollar Amounts and Frequency of Transactions
Purchases made above the floor limit of the merchant will require an authorization number from VISA.  You may make ATM cash withdrawals or POS transactions up to $750 and you may make up to 99 transactions at places that accept VISA each 24-hour period as long as your available balance will cover the transaction.

Use of the Card
You may use the Card and PIN to:

  • Withdraw cash from your share or share draft/checking account at ATMs, merchants, or financial institutions that accept VISA cards;
  • Transfer funds between your share or share draft/checking account you have with the Credit Union; and
  • Make deposits to your share or share draft/checking account at the Credit Union.

You may use the Card without the PIN to:

  • Purchase goods or services at places that accept VISA cards (these are point-of-sale or POS transactions);
  • Order goods or services by mail or telephone from places that accept VISA cards; and
  • Make automatic payments from your share draft/checking account to pay bills or other charges, providing that the person or organization that you are paying agrees to accept payments this way.

Some of these services may not be available at all terminals.
Use of the Card, the account number on the Card, the PIN or any combination of the three for payments, purchases, or to obtain cash from merchants, financial institutions or others who honor VISA cards is an order by you for the withdrawal of the amount of the transaction from your account.  Each transaction with the card will be charged to your account on the date the transaction is posted to your account. When the Credit Union receives notification of a Debit Card transaction, it will put a hold on an equivalent amount of funds in your share draft/checking account for 3 days or until the day the transaction is charged to your account.
All Card transactions covered by this agreement are subject to the terms and conditions of your account agreements with us governing the affected accounts, except as modified by this agreement. Any future changes to your account agreements may affect the use of the card.

Illegal Use of VISA Debit Card
You agree that your VISA Debit Card Account will not be used to make or facilitate any transaction(s) that are or might be construed to be illegal pursuant to applicable law, rule or ordinance, including but not limited to gambling.  Said use, including any such authorized use, will constitute an event of default under this Agreement.  You agree that the Credit Union has no liability, responsibility or culpability whatsoever for any such use by you or any authorized user(s). You agree that you are responsible for repayment of any and all debts incurred for these transactions.  You further agree to indemnify and hold the Credit Union harmless from any suits, liability, damages or adverse action of any kind that results directly or indirectly from such illegal use.

Overdrafts
You promise to pay the Credit Union immediately upon demand for any negative (overdraft) balance arising in your Account, unless you have available overdraft privileges. If you do not have overdraft privileges, the Credit Union may deduct the amount of any overdraft on your Account from any other account you have with the Credit Union, except an Individual Retirement Account.

Refusal to Honor Card
The Credit Union is not liable for the refusal or inability of any electronic terminal to honor the Card or to complete a withdrawal from your Account, or for their retention of the Card. The Credit Union is also not responsible for the refusal of any merchant or financial institution to honor the Card or for their retention of the Card.

Foreign Transactions
Transactions that are initiated in foreign countries and foreign currencies will be charged to your Account in U.S. Dollars.  The conversion rate to dollars will be (i) the wholesale market rate, or (ii) the government-mandated rate, whichever is applicable, in effect one (1) day prior to the processing date, increased by one percent (1%).

Additional Disclosures Applicable to On-Line Home Financial Services "HFS"

On-Line Banking allows convenient access to your account information 24 hours a day. To use On-Line Banking you must have a computer, modem, Internet Service, browser, your account number and a PIN or Access Code.

Transactions Available
You may use your HFS service to perform the following transactions:

  • Obtain account/loan balance information;
  • Obtain loan payment due date and payoff information;
  • Obtain last dividend, date and amount;
  • Obtain clearance of specific checks;
  • Transfer funds between your share draft/checking and share/savings account;
  • Download transaction information to personal financial management software from share draft/checking and share/savings account;
  • Make loan payments;
  • Pay bills through Bill Payer from share draft/checking, and
  • No more than six pre-authorized, automatic, or telephone transfers may be made from your Share/Savings account or money market deposit account to another account at the Credit Union or to a third party in any calendar month, and no more than three of these six transfers may be made by check, draft, debit card, or similar order payable to a third party. If you exceed, or attempt to exceed, these transfer limits, the excess transfer requests may be refused or reversed, a fee may be imposed on the excess transfer request, and the Credit Union may reclassify or close your account.

Limitations on Transactions
There are no limitations to the use of the Credit Union's Home Financial Services as long as your available balance will cover the transaction.

Home Financial Services Pricing Schedule

Fee Price
First 6 months Free
Monthly Service Fee: $5.95 (unlimited use)



Additional Disclosures Applicable to On-Line Bill Payer "IPAY"

To use On-Line Bill Payer you must have a computer, modem, Internet Service, browser, your account number and a PIN or Access Code.

Right to Stop Payment of Preauthorized Transfers, Right to Receive Notice of Varying Amounts, and Our Liability for Failure to Stop Payment

a) Right to stop payment and procedure for doing so.

If you have told us in advance to make regular payments out of your account, you can also stop any of these payments. Here's how: Call at 510.352.9090 or 510.729.6786, or write to us at 2450 Washington Avenue, Suite 180, San Leandro, CA 94577 in time for us to receive your request three business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within fourteen (14) days after you call.

b) Notice of varying amounts.

If these regular payments vary in amount, the person you are going to pay will tell you ten (10) days before each payment, when it will be made and how much it will be. You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.

c) Liability for failure to stop payment of preauthorized transfers.

If you order us to stop one of these payments three (3) business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

Transactions Available
You may use your IPAY Service to perform the following transactions:

  • Add/Edit Merchants: Merchant refers to the entity to which you pay bills. The merchant can be a company, organization, or individual. The Add/Edit Merchant feature allows you to add merchants to, delete merchants from or edit merchant information on your personal list of merchants.
  • Make nonrecurring payments from share draft/checking: This feature allows you to schedule one-time payments to merchants. This feature enables you to specify the amount of the payment and the processing date.
  • Make recurring payments from share draft/checking: This feature allows you to schedule recurring payments to merchants.
  • View History: View History permits you to see payments made over a specified time period.

Limitations on Transactions
The following are limitations to the use of the Credit Union's Bill Payer Service:

  • Bill Payments can only be made from your share draft/checking account;
  • If you close the designated bill payment share draft/checking account, all scheduled payments will be stopped;
  • You cannot stop a payment if the payment has already been processed; and
  • You can schedule payments 24 hours a day, seven days a week, however, payments scheduled on a Saturday, Sunday, or holiday will be processed within one to two business days; and
  • The bill being paid must be in the member's name.

Methods and Restrictions
Payments are made to your payee either electronically via the Automated Clearing House (ACH) or by check or laser draft. The method of payment depends upon the processing method that can be accommodated by the payee or by our bill payment service provider.

It is important that you take into consideration what method of bill payment will be used when scheduling bill payments to ensure payment deadlines are met. If the payee accepts electronic bill payment, the payment may take up to four business days to process. If the payee does not accept electronic bill payment, the payment will be sent in a check form, and may take up to ten business days to process.

Member Responsibilities
You are responsible for:

  • any late payment, late fees, interest payments, and service fees charged by merchant(s);
  • any overdraft, NSF or stop payment fees charged by the Credit Union as a result of these transactions;
  • data input of payee information (payment amounts(s), name, address and any other pertient information);
  • written notification to the Credit Union in the event you wish to cancel this service; and
  • you must allow sufficient time for bill payments to be processed so that the funds can be delivered to the merchant on or before the due date.

IPAY Pricing Schedule

Fee Price
First 6 months Free
Monthly Service Fee: $5.95 (unlimited use) or
Monthly Transaction Fee: $3.95 (5) transactions or less



Regulations Relating to Fund Transfers

Applicable Law
This agreement and notice applies to funds transfers as defined in the Article 4A of the Uniforn Commercial Code and Subpart B of Regulation J of the Board of Governors of the Federal Reserve System.

Funds Transfer Cut-Off Time
The Credit Union may establish or change cut-off times for the receipt and processing of funds transfer requests, amendments, or cancellations. Unless other times are posted for the various types of funds transfers, the cut-off time will be 1:15 p.m. on each weekday that the Credit Union is open excluding holidays. Payment orders, cancellations, or amendments received after the applicable cut-off time may be treated as having been received on the next funds transfer business day and processed accordingly.

Service Charges/Fees
The Credit Union may charge your account for the amount of any funds transfer initiated by you or by any person authorized by you as a joint tenant or other authorized party with the right of access to the account from which the funds transfer is to be made. Please refer to our Schedule of Fees and Charges for current fees.

Security Procedures
The Credit Union may establish, from time to time, security procedures to verify the authenticity of a payment order. You will be notified of the security procedure, if any, to be used to verify payment orders issued by you or for which your account will be liable. You agree that the authenticity of payment orders may be verified using that security procedure unless you notify the Credit Union in writing that you do not agree to that security procedure. In that event, the Credit Union shall have no obligation to accept any payment order from you or other authorized parties on the account until you and the Credit Union agree, in writing, on an alternate security procedure.

Use of Fedwires
If you send or receive a wire transfer, Fedwire may be used. Regulation J is the law covering all Fedwire transactions. This means that your rights and liabilities in a wire transfer involving Fedwire will be governed by Regulation J.

Identification of Beneficiary
If you give the Credit Union a payment order which identifies the beneficiary (recipient of the funds) by both name and identifying or account number, payment may be made by the beneficiary's bank on the basis of the identifying or bank account number, even if the number identifies a person different than the named beneficiary. This means that you will be responsible to the Credit Union if the funds transfer is completed on the basis of the identification number you provided the Credit Union.

Identification of Beneficiary and Intermediate Bank by Number
If you give the Credit Union a payment order which identifies an intermediary or beneficiary's bank by both name and an identifying number, a receiving bank may rely on the number as the proper identification even if it identifies a different bank than the named bank. This means that you will be responsible for any loss or expenses incurred by a receiving bank which executes or attempts to execute the payment order in reliance on the identifying number you provided.

Provisional ACH Payments
The Credit Union may at its discretion give you credit for automated clearinghouse (ACH) payments before it receives final settlement of the funds transfer. Any such credit is provisional until the Credit Union receives final settlement of the payment. You are hereby notified and agree, if the Credit Union does not receive such final settlement, that it is entitled to a refund from you of the amount credited to you in connection with that ACH entry. This means that the Credit Union may provide you with access to ACH funds before the Credit Union actually receives the money. However, if the Credit Union does not receive the money, then the Credit Union may reverse the entry on your account and you would be liable to repay the Credit Union.

Notice of Receipt of ACH Funds
ACH transactions are governed by operating rules of the National Automated Clearing House Association. In accordance with these rules, the Credit Union will not provide you with next day notice of receipt of ACH credit transfers to your account. You will continue to receive notices of receipt of ACH items in the periodic account statements which we provide.

Receipt of Incoming (Non-ACH) Funds Transfers
If the Credit Union receives a funds transfer for you or for other persons authorized to have access to your account, you agree that the Credit Union is not obligated to provide you with next day notice of the receipt of the funds transfer. The Credit Union will provide you with notification of the receipt of all funds transfers by including such items in the periodic account statements which we provide. You may, of course, inquire between receipt of periodic statements whether or not a specific funds transfer has been received.

Payment of Dividends (or Interest)
If the Credit Union becomes obligated under Article 4A to pay interest (or dividends) to you, you agree that the rate of interest (or dividends) to be paid shall be equal to the dividend rate, on a daily basis, applicable to the account at the Credit Union to which the funds transfer should have been made or from which the funds transfer was made.

YOUR ABILITY TO WITHDRAW FUNDS

Our policy is to make funds from your cash and check deposits available to you on the first 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 them to pay checks that you have written.

For determining the availability of your deposits, ever day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit before the close of business 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 the close of business or on a day we are not open, we ill consider that the deposit was made on the next business day we are open.

Longer Delays May Apply
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 fifth business day after the day of your deposit. However, the first $100 of your deposits will be available on the first business day.

If we are not gong 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 you 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.

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 $5,000 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 11th business day after the day of your deposit.

Special Rules For New Accounts
If you are a new member, the following special rules will apply during the first 30 days your account is open. Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,000 of a day's total deposits of cashier's, certified, teller's, traveler's, and federal. state and local government checks will be available on the first business day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you (and you may have to use a special deposit slip). The excess over $5,000 will be available on the ninth business day after the day of your deposit. If you deposit of these checks (other than a U.S. Treasury check) is not made in person to one of employees, the first $5,000 will not be available until the second business day after the day of your deposit.

UNCLAIMED PROPERTY LAW - CALIFORNIA

The holder(s) of this account shall inform the Credit Union of any change in their address(es). The shares and accumulated dividends earned thereon will not escheat to the State Controller if, for a period of three years the member has owned another account with your credit union and, the member has:

1. Increased or decreased the amount of the funds or deposit, cashed an interest (dividend) check, or presented appropriate record for the crediting of interest or dividends, or

2. Corresponded electronically or in writing with the credit union concerning the funds or deposit, or

3. Otherwise indicated an interest in the funds or deposit as evidenced by a memorandum or other record on file with the financial organization.

GENERAL TERMS AND CONDITIONS OF YOUR CREDIT UNION ACCOUNTS

Definitions
ACCOUNT AGREEMENT means any share, share draft, share certificate, trust, totten trust or UTMA account.
TIS AGREEMENT means Truth In Savings Agreement entitled, "About Your Credit Union Accounts."

Membership & Account Application
The terms, conditions and information contained in the Membership & Account Application, and all amendments thereto, are by this reference hereby incorporated in their entirety into this TIS Agreement and become an integral part of the General Terms and Conditions of the Credit Union Accounts.

Account Ownership
The ownership of trust, totten trust and UTMA accounts shall be governed by the applicable Account Agreement. Unless otherwise specified in the Account Agreement, the parties who sign an Account Agreement agree with each other and with the Credit Union that all funds in the accounts shall be owned as follows:

  • Individual Accounts: The account or certificate is owned by the party named on the Account Agreement ("Account Holder"). Upon death of the party, ownership passes to the named pay-on-death payee(s), designated as the beneficiary(ies) on the Account Agreement.
  • Joint Accounts: The account or certificate is owned by the parties named on the Account Agreement ("Account Holder"). Upon the death of any of them, ownership passes to the survivor(s). Upon the death of all of them, ownership passes to the named pay-on-death payee(s), designated as the beneficiary named on the Account Agreement.

Special Rules for Joint Accounts
Withdrawals by and Liability of Joint Owners - The Account Holders of an account agree with each other and with the Credit Union that all funds and all accumulations theron are subject to the withdrawal or receipt by any of the Account Holders, and payment to any of them shall be valid and discharge the Credit Union from any and all liability for such payment. The Account Holders of an account expressly agree that each Account Holder is jointly and severally liable for any and all overdrafts, losses or charges to an account created by any Account Holder(s).
Deposits - The Credit Union may cash or deposit all checks payable to any signer when endorser by any other signer.
Disputes - If there is a dispute about ownership or control of an account, the Credit Union may place a hold on the account and not release funds until the Credit Union receives either a court order or an instruction signed by all persons claiming an interest in the account.

Notice
Notice to one account holder shall constitute notice to all persons authorized to have access to the account.

Ability to Pledge Funds
Any or all of the joint Account Holders may pledge all or any part of the funds as security for a loan or loans with the Credit Union only.

Enforcement of Liens
All funds in an account remain subject to any and all liens, including but not limited to statutory liens and/or consensual liens, security interests, rights of set off and charges, notwithstanding the source of the contribution.

Notification of Changes
The right or authority of the Credit Union under an Account Agreement shall not be changed or terminated by the Account Holder(s), except by written notice to the Credit Union, which written notice shall not affect transactions previously made. All parties to an Account Agreement shall keep the Credit Union informed of any change in their address(es).

Waiver of Certain Rights
The Credit Union reserves the right to waive the enforcement of any of the provisions of this TIS Agreement with respect to any transaction or series of transactions. Any such waiver will not affect the right of the Credit Union to enforce any of its rights with respect to later transactions and is not sufficient to modify the terms and conditions of this TIS Agreement.

Consumer Reports
The Credit Union makes credit available to its members on a regular basis. The Applicant(s)/Account Holder(s) of the account authorizes the Credit Union to obtain consumer reports in connection with credit and business transactions involving the Applicant(s)/Account Holder(s), including but not limited to applying for membership, the opening of a share or share/draft account or the issuance of a ATM card, Debit Card, or other service provided by the Credit Union, and the Applicant(s)/Account Holder(s) of the account authorize any person, association, or corporation to furnish on request of this Credit Union, information concerning the affairs of the Applicant(s)/Account Holder(s). The Applicant(s)/Account Holder(s) also authorizes the Credit Union to furnish information concerning the account to consumer reporting agencies.

Negative Credit Reporting
Pursuant to State Law, you are hereby notified that a negative credit report reflecting on your credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of your credit obligations.

Post-Dated Share Drafts and Checks
The Credit Union will treat all share drafts or checks as though the share drafts or checks were written on the date presented.

Examination of Statements
The Account Holder(s) to whom the periodic statement of account is sent agree(s) to exercise reasonable care and promptness in examining the statement to discover any errors or discrepancies, and to promptly notify the Credit Union after discovery thereof.

Non-Cash Payments
Non-cash payments deposited into an account may be credited subject to final payment.

Fees and Charges
All accounts shall be subject to service charges in accordance with fee schedules adopted by the Credit Union as amended from time to time.

Credit Union's Right to Offset
Account Holder(s) agrees that the Credit Union has the right to offset against any account of any Account Holder to cover any amount owing to the Credit Union for any reason. Account Holder(s) understand that this means that the Credit Union has the right to impress and enforce a statutory lien against the Account Holder(s')'s share and dividends in the event of the failure of the Account Holder(s) to satisfy any financial obligation due and payable to the Credit Union. Account Holder(s) understand that the Credit Union may enforce this right without further notice.

Other Terms and Conditions
The use of an account is subject to such other terms, conditions and requirements as the Credit Union may establish from time to time.

UCC Provisions
This TIS Agreement shall be construed in accordance with the provisions of the California Uniform Commercial Code (UCC).

Share Account Agreement

Transfers to Third Parties

No more than six pre-authorized, automatic, or telephonic transfers amy be made from each savings account or money market deposit account to another account at the Credit Union or to a third party in any calendar month, and no more than three of these six transfers mat be made by check, draft, debit card, or similar order payable to a third party. If an Account Holder exceeds, or attempts to exceed, these trasnfer limits, the excess trasnfer requests may be refused or reversed, a fee may be imposed on the excess transfer requests, and the Credit Union may reclassify or close the account. Transfers initiated by telephone must be counted among the six monthly transfers, except that there are no limits on the number of withdrawals paid directly to an Account Holder when initiated by mail, telephone or messenger. There are no limits on the number of withdrawals if initiated in person.

Withdrawals, Prior Notice Requirement
The Credit Union reserves the right to require prior written notice of intention to withdraw all or any part of shares not to exceed the notice requirement as set forth in the Credit Union's bylaws.

Share Draft Account Agreement

Withdrawals, Approved Methods
Only share draft blanks and other methods approved by the Credit Union may be used to withdraw funds from a share draft account.

Electronic Check Conversion
Upon prior notification from the merchant to the Account Holder, a purchase made with a share draft or check can be converted to a one-time electronic fund transfer (EFT) if authorized by the Account Holder. The Account Holder may also authorize merchants to electronically debit the account for returned check fees. It is agreed that the Account Holder authorizes the electronic funds transfers if the transaction is completed after being told (orally or by a notice posted) that the trasnfer may be processed electronically or if the Account Holder signs a written authorization.

Demand Drafts
The Credit Union may pay and charge to the applicable share draft account, share drafts drawn by and payable to any person, organization, association or corporation that has been authorized by an Account Holder to be paid, by the provision of MICR encoded information on the account. It is agreed that the Credit Union's rights in respect to such share drafts shall be the same as if it were a share draft drawn and signed by an Account Holder(s) personally. This authority shall remain in effect until revoked by an Account Holder in writing. It is agreed that the Credit Union shall be fully protected in honoring such share drafts. It is further agreed that if any such share draft is dishonored, whether with or without cause, and whether intentionally or inadvertently, the Credit Union shall incur no liability whatsoever, even though such dishonor results in the forfeit of insurance, loss or damage of any kind.

Overdrafts
The Credit Union is under no obligation to pay a share draft which exceeds the balance in an account; the Credit Union may, however, pay such a share draft and recover or obtain a refund of the amount of the resulting overdraft plus a service charge from any of the Account Holders of this account, each of whom expressly agrees that each Account Holder is jointly and severally liable for any and all overdrafts of this account any and and all associated costs created by any Account Holder.

Stale-Dated Share Drafts
The Credit Union is under no obligation but may pay a share draft which is presented more than six (6) months after it is dated. The Credit Union may assess a special handling charge upon receipt of any such item in addition to a service charge upon the account in accordance with the fee schedules adopted by the Credit Union and as amended from time to time.

Stop Payments
Any Account Holder(s) of this account may stop payment of any item drawn against the account. The Stop Payment Order must describe the item with reasonable certainty and must be received in such time and manner as to afford the Credit Union a reasonable opportunity to act upon it. A Stop Payment Order is effective for six (6) months, but it lapses after 14 calendar days if the original order was oral and was not confirmed in writing within that 14 day period. The Stop Payment Order may be renewed in writing for an additional six (6) month period.

Truncation of Drafts
The Account Holder(s) acknowledges that share drafts are truncated and hereby waives any and all rights to receive the items without prejudice to any of the Credit Union's defenses available under the California Uniform Commercial Code (UCC).

Liability of Credit Union
Except for its own lack of good faith or failure to exercise ordinary care, the Credit Union is not liable for any action it takes regarding the payment or nonpayment of a share draft, even if nonpayment results in the forfeit of insurance, loss or damage of any kind.

Closure of Account
The Credit Union may close a share draft account at any time. Closure of a share draft account will not affect the obligation to pay any outstanding balances or charges owed.

For Share Draft Accounts with Share Overdraft Protection
If any Account Holder(s) writes a share draft that would result in this Share Draft Account being overdrawn, the Credit Union is authorized to charge the designated share account(s), regardless of which party signed the item, in such multiples as determined by the Crediut Union sufficient to permit the Credit Union to honor the share draft and to credit such charge to this Share Draft Account. No share draft overdraft may be paid by charging a share account if, as a result of such charge, that share account would be subject in any one month to more than six pre-authorized, automatic or telephonic transfers.

For Share Draft Accounts with Loan Overdraft Protection
If any Account Holder(s) writes a share draft which would result in this Share Draft Account being overdrawn, and if at that time any Account Holder(s) is eligible to receive loan advances from this Credit Union on a loan designated on the Overdraft Agreement, the Credit Union is authorized to make an advance from the designated loan account, and to credit the advance to this Share Draft Account in such multiples as determined by the Credit Union sufficient to permit the Credit Union to honor such share draft and any associated fees.

Share Certificate Account Agreement

Pledging of Funds
Share certificates may not be pledged, transferred, or assigned to any party other than the Credit Union unless otherwise provided by statute. Shares invested for an Individual Retirement Account (IRA) or Keogh Plan may not be pledged as security for any loan. The Credit Union reserves the right to offset this certificate except as otherwise precluded by law. If the Credit Union offsets funds from this certificate, the funds withdrawn are subject to the early withdrawal penalty.

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.


Unlawful Internet Gambling Enforcement Act (UIGEA) Policy

The Unlawful Internet Gambling Enforcement Act of 2006 (effective June 1, 2010) implemented regulations which prohibit commercial/business members from receiving deposits or other credits of any kind relating to their operation of an illegal Internet gambling business.

It is our policy to not open or maintain any account for commercial/business members held with the intent to conduct or engage in Internet gambling activity, whether legal or illegal. If the credit union discovers or determines that an existing commercial member transacts or engages in Internet gambling activity as defined by the UIGEA, the credit union reserves the right to restrict services or terminate the account relationship.

 

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