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Important Information About Your Consumer Account

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Important Information About Your Consumer Account Important Information About Your Consumer Account • Universal Account Agreement for Consumer Accounts • Funds Availability Disclosure • Wire Transfer Agreement • Electronic Funds Transfer Agreement • Privacy Disclosure | This page was intentionally left blank. | TABLE OF CONTENTS PATRIOT ACT DISCLOSURE .............................................................................................. 2 UNIVERSAL ACCOUNT AGREEMENT FOR CONSUMER ACCOUNTS ........................ 3 Definitions ............................................................................................................................ 3 Membership ......................................................................................................................... 4 Governing Law..................................................................................................................... 4 Backup Withholding ........................................................................................................... 4 Ownership of Accounts ..................................................................................................... 5 Address and Notices .......................................................................................................... 5 Arbitration ............................................................................................................................ 5 Miscellaneous Provisions ................................................................................................. 5 Multiple Owner Accounts.................................................................................................. 6 Primary Owner..................................................................................................................... 6 Liability .................................................................................................................................. 6 Personal Accounts Used for Business Purpose ........................................................... 6 Accounts in General ........................................................................................................... 6 Savings (Share) Accounts ................................................................................................. 6 Sub-Accounts ...................................................................................................................... 6 Checking (Share Draft) Accounts .................................................................................... 6 Trust and Other Specialty Accounts ................................................................................ 7 Uniform Transfers to Minors Accounts ........................................................................... 7 Payable-on-Death (POD) Accounts ................................................................................. 7 Accounts for Minors........................................................................................................... 8 Individual Retirement Accounts (IRAs) ........................................................................... 8 Certificate of Deposit Accounts ....................................................................................... 8 Money Market Accounts ................................................................................................... 8 Overdraft Disclosure .......................................................................................................... 8 Stop Payments................................................................................................................... 10 Payment Order of Items to Your Account ..................................................................... 10 Deposits in General .......................................................................................................... 11 Remotely Created Checks ............................................................................................... 11 Direct Deposits .................................................................................................................. 11 Endorsements .................................................................................................................... 11 Electronic Storage of Documentation and Electronic Signatures ........................... 12 Power-of-Attorney and Legal Representatives ........................................................... 12 Inactive/Dormant Accounts ............................................................................................ 12 Closing an Account........................................................................................................... 12 Termination of Account .................................................................................................... 12 Termination of Membership ............................................................................................ 13 Death of Account Owner ................................................................................................. 13 Set-Off/Security Interest.................................................................................................. 13 Check Orders ..................................................................................................................... 13 FUNDS AVAILABILITY DISCLOSURE ............................................................................. 14 SUBSTITUTE CHECKS AND YOUR RIGHTS .................................................................. 15 WIRE TRANSFER AGREEMENT ...................................................................................... 15 ELECTRONIC FUNDS TRANSFER AGREEMENT ........................................................... 16 MoneyLine Audio Response System ............................................................................. 18 MasterCard® Debit Transfers and Limitations ............................................................. 18 Foreign Currency Conversion ......................................................................................... 19 Advisory Against Illegal Use ........................................................................................... 19 Online Banking .................................................................................................................. 19 Bill Pay ................................................................................................................................ 19 Terminal Transfers ............................................................................................................ 19 Pre-Authorized Credits..................................................................................................... 20 Periodic Statements ......................................................................................................... 20 Limitations on Frequency of Transfers .......................................................................... 20 Right to Stop Payment ...................................................................................................... 20 Liability for Unauthorized Electronic Transfers ............................................................ 21 ERROR RESOLUTION NOTICE ......................................................................................... 21 PRIVACY DISCLOSURE .................................................................................................... 24 1 PATRIOT ACT DISCLOSURE 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. For legal entity accounts, we will require identification on beneficial owners and controlling individuals. What this means for you – When you open an account, we will collect your name, address, date of birth, and social security number and obtain from you all necessary identification documents enabling us to verify the information collected from you. We may also ask for your driver’s license or other identifying information and you agree that we may maintain an image of such documents. You agree that we have the right to verify the information you give us with external sources for validation. If your mailing address is a post office box, you must also provide us with your physical address. 2 ACHIEVA CREDIT UNION UNIVERSAL ACCOUNT AGREEMENT FOR CONSUMER ACCOUNTS (Not Transferable as defined in 12 CFR, Part 204) This Universal Account Agreement for Consumer Accounts, the Signature Card along with our current Schedule of Fees and Rates Sheet (collectively, this “Agreement”) contains the rules, and conditions that govern your Account(s) with Achieva Credit Union. The paragraph headings are for convenience only and do not form a part of this Agreement. If any provision of this Agreement is deemed invalid, the rest of this Agreement will remain in full force and effect. This Agreement amends, replaces and supersedes any prior Agreements. Please read this Agreement carefully, keeping a copy for your records and call us if you have questions. Definitions – In this Agreement covering all consumer depositors, the plural shall also mean the singular, the masculine shall mean the feminine, and vice versa. The terms defined below shall have the following meanings: “Account” means all accounts and services provided by the Credit Union. “ATM” means
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