Common use of Account Closure Clause in Contracts

Account Closure. If your checking account is closed by the Credit Union for any reason, you are not eligible to apply to reopen the account for a period of one year. The Credit Union reserves the right to obtain a credit report and verify employment in conjunction with the establishment of a checking account. If a checking account is established and a credit report thereafter demonstrates derogatory credit existed at the time of the application, the Credit Union reserves the right to close the account.