Account Terms and Conditions


To open your account, complete the appropriate account card and return it to our Member Services Representative.
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.

 

General Account Information


Par Value
The par value of a share in the Santa Barbara County Federal Credit Union is $5.

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

Dividends Rates
The initial dividend rate and annual percentage yield on our accounts are stated on the Rate Schedule available at the Credit Union. 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 accounts to determine the dividends you will be paid by using the daily balance method which applies a daily periodic rate to the balance in your account each day.


By-Law 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. The Credit Union requires a one-time nonrefundable membership fee of $5.00.


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 shares by nonmembers. The Credit Union reserves the right, at any time, to require members to give, in writing, not less than 7 days and not more than 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 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 comaker, endorser, or guarantor are delinquent, without the written consent of the credit committee or loan officer.


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


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 Accounts
Santa Barbara County Federal Credit Union's share accounts let you deposit your money in a savings account and withdraw your money generally at anytime (with the exception of our Club Account). Our share accounts are Regular Shares, IRA Shares, Holiday Club, and Money Market Account.


Rate Information
Our share accounts are designated 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 ACCOUNT

Dividends Compounding And Crediting
Dividends will be compounded daily and will be credited monthly. For our share accounts the dividend period is monthly. For example, the beginning date of the first dividend period of the calendar year is January I and the ending date is January 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 a Regular Shares Account is $5. You must maintain a minimum daily balance of $5 in your Regular Shares Account to obtain the annual percentage yield stated on the Rate Schedule, open other accounts or participate in any other services the Credit Union offers.


Transaction Limitations
No more than six pre-authorized, automatic, or telephonic transfers may be made from your share money market deposit account to another account at the Credit Union or to a third party in any calendar month. If you exceed the transfer limitations set forth above, your account will be subject to closure by the Credit Union. However, the above restrictions will not apply to withdrawals made by mail, by messenger or in person (lobby access). If funds are withdrawn against insufficient funds (NSF) a fee of will be imposed.


ABOUT OUR IRA SHARES ACCOUNT


Dividends Compounding And Crediting

Dividends will be compounded daily and will be credited monthly. For our share accounts the dividend period is monthly. For example, the beginning date of the first dividend period of the calendar year is January 1st and the ending date is January 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
There are no minimum deposit or balance requirements for our IRA Shares Account.


ABOUT OUR HOLIDAY CLUB ACCOUNT

Dividends Compounding and Crediting
Dividends will be compounded daily and will be credited monthly. For our share accounts the dividend period is monthly. For example, the beginning date of the first dividend period of the calendar year is January I and the ending date is January 31st. 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.

The minimum deposit required for you to open a Holiday Club Account is $25.
The maximum amount you may have on deposit is $2,500. Our Holiday Club Account may be opened at any time. Funds will be disbursed to you on or about October 31. No withdrawals may be made prior to October 31. If a withdrawal is necessary, the full balance must be withdrawn and the account will be closed. If the deposits are by Payroll Deduction, the account will be automatically renewed unless you terminate the Payroll Deduction authorization.


ABOUT OUR SHARE DRAFT ACCOUNT

Santa Barbara County Federal Credit Union offers the following share draft accounts which let you withdraw your money and write checks against your account at any time. Our share draft accounts are Basic Checking, Basic Plus, Security Plus and Preferred Checking.


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


Dividends Compounding and Crediting
Dividends will be compounded on our dividend earning accounts monthly and will be credited monthly. For our share draft accounts the dividend period is monthly. For example, the beginning date of the first dividend period of the calendar year is January I and the ending date is January 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.


ABOUT OUR BASIC CHECKING ACCOUNT
Our Basic Checking Account is a non-dividend earning account.


Minimum Balance and Deposit Requirements
The minimum deposit required for you to open a Basic Checking Account is $20.


ABOUT OUR BASIC PLUS CHECKING ACCOUNT

Minimum Balance and Deposit Requirements
The minimum deposit required for you to open a Basic Plus Checking Account is $20. You must maintain a minimum daily balance of $500 in your Basic Plus Checking Account to obtain the annual percentage yield stated on the Rate Schedule.


ABOUT OUR SECURITY PLUS CHECKING ACCOUNT

Minimum Balance and Deposit Requirements
The minimum deposit required for you to open a Security Plus Checking Account is $1,000. You must maintain a minimum daily balance of $500 in your account to obtain the annual percentage yield stated on the Rate Schedule.


ABOUT OUR PREFERRED CHECKING ACCOUNT


Minimum Balance and Deposit Requirements
The minimum deposit required for you to open a Preferred Checking Account is $2,000. You must maintain a minimum daily balance of $500 in your account to obtain the annual percentage yield stated on the Rate Schedule.


ABOUT OUR MONEY MARKET SHARE ACCOUNT

Minimum Balance and Deposit Requirements
The minimum deposit required for you to open your Money Market Share Account is $ 2,500. You must maintain a minimum daily balance of $2,500 in your Money Market Share Account to avoid a service fee of $5. No minimum daily balance is required to obtain the annual percentage stated on the Rate Schedule.


Transaction Limitations
No more than six pre-authorized, automatic, or telephonic transfers may be made from your share money market deposit account to another account at the Credit Union or to a third party in any calendar month. The Credit Union may reclassify or close your account. However, the above restrictions will not apply to withdrawals made by mail, by messenger or in person (lobby access). If funds are withdrawn against insufficient funds (NSF) a fee will be imposed.


Balance Information
We compute the balance in our Money Market Share Account to determine the dividends you will be paid by using the daily balance method which applies a daily periodic rate to the balance in your account each day.


Rate Information
Our Money Market Share 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.

Dividend Compounding and Crediting
Dividends will be compounded daily and will be credited monthly. For the Money Market Share Account the dividend period is monthly. For example, the beginning date of the first dividend period of the calendar year is January I and the ending date is January 3 1. 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.

Electronic Fund Transfer Disclosures

This EFT Disclosure and Agreement as amended from time to time ('Agreement") sets forth the terms and conditions governing the use of the Santa Barbara County Federal Credit Union electronic transfer services. Disclosure information that applies to all electronic services offered by Santa Barbara County Federal Credit Union is given below, followed by specific disclosure 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 the electronic services offered by Santa Barbara County 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 'we,' 'us' and 'our(s)" refer to Santa Barbara County Federal Credit Union.


Personal Identification Number
We will issue you a Personal Identification Number (PIN). This number should be memorized. After memorizing it, you should destroy it. Your accounts can only be accessed by the use of an access device with the PIN. If you forget your 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 will get the statement at least quarterly.


Your Liability
Tell us AT ONCE if you believe your ATM/POS Card and/or PIN 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 tell us within two (2) business days, you can lose no more than $ 50.00 if someone used your ATM/POS Card or PIN 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 or PIN, and we can prove that we could have stopped someone from using your ATM/POS Card or PIN without your permission if you had told us, you could lose as much as $500.00. If your card is used to obtain unauthorized advances DIRECTLY from a line of credit at an automated teller machine (ATM) or DIRECTLY from a line of credit at a point-of-sale (POS) Location, your liability will not exceed $50. If you have authorized someone else to use the ATM/POs Card and/or PIN, you are responsible for all transactions which that person or persons initiates at any time, even if the amount or transactions exceed what you may have authorized.
Also, if your statement shows transactions 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 kept you from telling us, we will extend the time periods.

How To Notify Us

If you believe your ATM/POS Card or PIN has been lost or stolen, or that someone has transferred or may transfer money from your account without your permission, call us at (805)682-3357, or write to us at 2623 De La Vina Street, Santa Barbara, California 93105.

Our Liability
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 downtime) 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 Transaction
Telephone us at (805)682-3357, send an email to info@sbcreditunion.com, or write to us at 2623 De la Vina Street, Santa Barbara, California 93105 as soon as you can if you think your statement is wrong, or if you need information about a transaction listed on the statement or receipt. We must hear from you no later than 60 days after we send the FIRST statement on which the problem or error appears. When you inquire about transactions on your statement
a) tell us your name and account number;
b) describe the error or the transaction you are unsure about it and explain as clearly as you can why you believe it is an error or why you need more information; and
c) tell us the dollar amount of the suspected error.
If you tell us orally, we may require that you send us your complaint or question in writing within ten (10) business days.
We will tell you the results of our investigation within 10 business days (20 business days for a point-of-sale transaction) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days for a point-of-sale transaction) to investigate your complaint or question. If we decide to do this, we will re-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 we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not recredit your account.
We will send you a written explanation, of the results of our investigation, within three (3) business days after we finish our investigation. You may ask for copies of the documents that we use in our investigation.


Charges
In order to obtain the electronic services listed, you must open and maintain a share and/or 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.


Address Change
Keep the Credit Union informed of your current address to insure correct mailing of monthly statements and prevent return mail fee of $5.00.


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. 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 Cards, POS Cards 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 Card or PIN with or without cause. We may do so immediately if-.
a) you or any authorized user of your ATM/POS Card, PIN 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 Card, POS Card, PIN or account; or
c) you or any authorized user of your ATM/POS Card, PIN 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.


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.


Additional Benefits/Cards 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.


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

Disclosure Applicable to ACH Services
a) Right to stop payment and procedure for doing so: Call us at (805)682-3357, or write to us at 2623 De La Vina Street, Santa Barbara, California 93105, 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 will 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 stop 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.


Documentation Of Direct Deposit
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 (805)682-3357 to find out whether or not the deposit has been made. If the only possible transfers to or from you account are direct deposits or pre-authorized deposits, you will get at least a quarterly statement from us.


Transactions Available
You may use your ACH services to perform the following transactions:
Make deposits to your share or share draft/checking account;
Pay bills directly from your share or share draft/checking account in the amounts and on the days you request.
All payments and deposits are subject to later verification by us.


Additional Disclosures Applicable to ATM Services

Rules For Use

By using your ATM 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 Card transactions are subject to the terms and conditions of your account agreements with us governing the affected accounts.


Transactions Available
You may use your ATM 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. Account balance inquiries are not available.
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 up to $300 per account in a 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.


Receipts and Statements
Depending upon 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.


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 Disclosures Applicable to Audio Response


Transactions Available
You may use your Audio Response Service to perform the following transactions:
Obtain account and loan balances;
Obtain clearance of specific checks;
Request a 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 checking and share savings accounts; and
Make loan payments.
All payments and deposits are subject to later verification by us.


Your Ability To Withdrawal Funds


Our policy is to make funds from your 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 they are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written.

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 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 will 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 fast 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. However, the first $200.00 of your deposits will be available immediately effective July 21, 2011.

If we are not going to make all of the to 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 t his 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 or deposit 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 communications or computer 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 7th 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 your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,000 will not be available until the second business day after the day of your deposit.
Funds from all other check deposits will be available on the 9th business day after the day of your deposit.

If we cash a check for you that is drawn on another financial institution, 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.

Unclaimed Property Law California

The holder(s) of this account shall inform the Credit Union of any change in their addressees). The shares and accumulated dividends earned thereon will escheat to the State Controller if, after three years:
1. There has been no account activity; or
2. There has been no written communication by you; or
3. There has been no other communication with you noted in writing by the Credit Union.


General Terms and Conditions of Your Credit Union Accounts

Account Ownership
The parties who sign an Account Application agree with each other and with the Credit Union that all funds in the account shall be owned as follows:

Individual Accounts

The account or certificate is owned by the party named on the Account Application. Upon the death of the party, ownership passes to the named pay-on-death payee(s), i.e. the beneficiary named on the Account Application.

Joint Accounts

The account or certificate is owned by the parties named on the Account Application. 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), i.e. the beneficiary named on the Account Application. Each account holder(s) or owner(s) is jointly and severally liable for any and all overdrafts created by any owner.

Notice
Notice to the member shall constitute notice to all persons authorized by the member to have access to the account.

Withdrawals By Joint
The owner(s) of this account agree with each other and with the Credit Union that all funds and all accumulations thereon are subject to the withdrawal or receipt by any of the owners, and payment to any of them shall be valid and discharge the Credit Union from any liability for such payment.


Enforcement of Statutory Liens
All funds in an account remain subject to liens, security interests, rights of off set and charges, notwithstanding the source of the contribution unless prohibited by law.

Notification of Changes
The right or authority of the Credit Union under this Agreement shall not be changed or terminated by the owner(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(s) 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 Agreement with you 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 with you and is not sufficient to modify the terms and conditions of this Agreement.

Consumer Reports
The Credit Union makes credit available to its members on a regular basis. The owner(s) of the account authorize the Credit Union to obtain credit reports in connection with possible future credit opportunities, and the owner(s) of the Account authorize any person, association, or corporation to furnish on request of this Credit Union, information concerning the Account owner(s) affairs. The owner(s) also authorize the Credit Union to furnish information concerning the account to credit 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.

Ownership & 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 Account Agreement and become an integral part of the General Terms and Conditions of your Credit Union Accounts.

Share Account Agreement

Ability to Pledge Funds
Any or all of the joint owners may pledge all or any part of the funds as security for a loan or loans.

Transfers to Third Parties
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. 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 requests, and the Credit Union may reclassify or close your account.

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 the account.

Overdrafts
The Credit Union is under no obligation to pay a share draft which exceeds the balance in this 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 owners of this account, each of whom expressly agrees that he or she is jointly and severally liable for any and all overdrafts of this account created by any owner.

Stale-Dated Checks
The Credit Union is under no obligation to pay a share draft which is presented more than six (6) months after its date; 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 rate schedules adopted by the Credit Union and as amended from time to time.

Post-Dated Checks
The Credit Union will treat all share drafts as though the share draft were written on the date presented.

Stop Payments
Any owner of this account may stop payment of any item drawn against the account. The order must describe the item with reasonable certainty and must be received in such time and manner 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.


Truncation of Drafts
The owner(s) acknowledge that share drafts are truncated and hereby waive any right 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.


Examination of Statements
The owner(s) to whom the periodic statement of account is sent agree(s) to exercise reasonable care and promptness to examine 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 this account may be credited subject to final payment.


Fees and Charges
This account shall be subject to service charges (including, without limitation, stop payment and NSF fees) in accordance with fee schedules adopted by the Credit Union as amended from time to time.


Funds Cannot be Pledged
None of the shares in this account may be pledged as collateral security for a loan or loans other than the Credit Union. The Credit Union may impress a lien on the shares (and any dividends payable thereon) in this account to the extent of any loan or obligation of or any dues or charges payable by any owner.


Closure of Account
The Credit Union reserves the right to close the account for abusive use.


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


UCC Provisions
This agreement shall be construed in accordance with the provisions of the UCC.


For Share Draft Accounts with Share Overdraft Protection
If any of the owners 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 Credit Union sufficient to permit the Credit Union to honor the share draft and to credit such charge to this 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 of the owners writes a share draft which would result in this account being overdrawn, and if at that time any of the owners is eligible to receive loan advances from this Credit Union, the Credit Union is authorized to make an advance from the owners loan account, and to credit the advance to this account in such multiples as determined by the Credit Union sufficient to permit the Credit Union to honor such share draft.


Share Certificate Account Agreement

Pledging of Funds
Share certificates may not be pledged, transferred, or assigned to any party other than the Credit Union. 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. A Share Certificate Account is not transferable unless it contains a specific statement on the Share Certificate, instrument, passbook, statement or other form representing the account that it is transferable.