Common use of Accounts for Living Trusts Clause in Contracts

Accounts for Living Trusts. An Account of a living trust is an individual account held by one or more trustees of a trust for the benefit of one or more beneficiaries pursuant to a revocable trust agreement. The trustee shall sign a Membership Application and provide any other evidence of the trust’s authority that we require. Trustee warrants that a valid living trust has been created, currently exists, and that the trust or beneficiaries are eligible for membership. We will not act as a trustee and is under no obligation to inquire as to the powers or duties of the trustee(s). The Trustee agrees to notify us in writing if any change of trustee occurs. We may withhold payment of funds to any party until proper evidence of authority is provided. Except for irrevocable trust, we may rely upon the direction of any one trustee until a written notice of revocation of the trust is received. Funds may be released to any one trustee acting alone or with a co-trustee. The trustee(s) agrees to indemnify and hold the Credit Union harmless of any liability, claim, damage, or loss arising as a result of unauthorized acts of any trustee or former trustee or acts of any trustee upon which we rely on prior to notice of revocation of the trust. This Agreement shall be binding on the trust, any trustee, successor trustee and beneficiaries. Representative Payee Accounts. A Representative Payee account is established on behalf of a recipient (Beneficiary) of benefits from the Social Security Administration (SSA), Supplemental Security Income (SSI), or the Veterans Administration (VA) on which a person, as designation by SSA/VA as Representative Xxxxx, acts on behalf of the beneficiary as Authorized Signer. The account is established in the name of the beneficiary as the only owner, by the Representative Xxxxx as Authorized Signer. Neither the Representative Xxxxx nor a third party can have ownership interest in the account. While the Beneficiary retains ownership interest, the account title must be established to not permit him or her to have direct access to the funds, for example. “(Beneficiary’s (member’s) Name) by (Representative Xxxxx’s Name), Representative Payee or (Representative Xxxxx’s Name), Representative Payee for (Beneficiary’s (member’s) Name). The Beneficiary must be eligible for membership and is the Primary Member. The Representative Xxxxx agrees to be bound by the terms of the Account Agreement to provide us a copy of the written Social Security Administration authorization designating the Representative Xxxxx and such other documents and authorizations, as we may deem necessary or appropriate. In opening a Representative Payee account, we only act as a depository for the Beneficiary’s SSA or SSI funds, and we are under no obligation to act as a fiduciary or to inquire as to the powers or duties of the Representative Payee. The Representative Xxxxx agrees that he or she is liable to us for any and all obligations incurred by any actions or transactions with the account and agrees to indemnify and hold us harmless from and against any and all loss, costs, damage, liability, or exposure, including reasonable attorney’s fees, we may suffer or incur arising out of or related to any action or claim by a party with respect to the authority or actions taken by the Representative Payee in handling or dealing with the account. Unless expressly stated to the contrary, all of the other terms and conditions of the Membership Agreement and Disclosure apply equally to Representative Payee account. Accounts of Businesses, Organization, and Associations. Accounts held in the name of an association or organization are subject to the same terms set forth in this Agreement and the following additional rules. A majority of the members, officers, or those who control the funds of a group, club, association, or business must be eligible for membership. We reserve the right to require the member to provide a Business Account Application informing us, who is authorized to act on its behalf. You agree to notify us of any change in authority. We may rely on written authorization until such time as we are informed of changes in writing and have had a reasonable time to act upon such notice. We may require that third party checks payable to an organization, business, and/or association may not be cashed, but must be deposited to a business account of the same name. We shall have no notice of any breach of fiduciary duties arising from a transaction by any agent of the account owner unless we have actual notice of any wrongdoing. Agency Designation on an Account. An agency designation on an account is an instruction to us that the owner authorizes another person to make transactions as agent for the account owner regarding the account designated. An agent has no ownership interest in the account(s) or Credit Union voting rights. We have no duty to inquire about the use or purpose of any transaction made by the agent. Deposit of Funds Requirement. Funds may be deposited into any account, in any manner approved by us, in accordance with the requirements as set forth in the Truth-in-Savings Disclosure. Deposits made by mail, at night depositories or at unstaffed facilities are not our responsibilities until we receive them. We reserve the right to refuse or to return any deposit. Endorsements. We may accept transfers, checks, drafts, and other items for deposit into any of your accounts, if they are made payable to, or to the order of, one or more account owners even if they are not endorsed by all payees. You authorize us to supply missing endorsements of any owners we choose. If a check, draft or item that is payable to two or more persons is ambiguous as to whether it is payable to either person, we may process the check , draft, or item as though it is payable to either person. If an insurance, government, or other check or draft requires an endorsement, we may require endorsement as set forth on the item. Endorsements must be made on the back of the share draft or check with 1- ½ inches from the top edge, although we may accept endorsements outside this space. However, any loss we incur from a delay or processing error resulting from an irregular endorsement or other markings by you or any prior endorser will be your responsibility. Collection of Items. We act only as your agent and we are not responsible for handling items for deposit or collection beyond the exercise of ordinary care. We are not liable for the negligence of any correspondent or for loss in transit, and each correspondent will only be liable for its own negligence. We may send any item for collection. Items drawn on an institution located outside the United States are handled on a collection basis only. You waive any notice of nonpayment, dishonor, or protect regarding items we purchase or receive for credit or collection to your account. We reserve the right to pursue collection of previously dishonored items at any time, including giving a payor bank extra time beyond midnight deadline limits.

Accounts for Living Trusts. An Account of a living trust is an individual account held by one or more trustees of a trust for the benefit of one or more beneficiaries pursuant to a revocable trust agreement. The trustee shall sign a Membership Application and provide any other evidence of the trust’s authority that we require. Trustee warrants that a valid living trust has been created, currently exists, and that the trust or beneficiaries are eligible for membership. We will not act as a trustee and is are under no obligation to inquire as to the powers or duties of the trustee(s). The Trustee agrees to notify us in writing if any change of trustee occurs. We may withhold payment of funds to any party until proper evidence of authority is provided. Except for irrevocable trust, we may rely upon the direction of any one trustee until a written notice of revocation of the trust is received. Funds may be released to any one trustee acting alone or with a co-trustee. The trustee(s) agrees to indemnify and hold the Credit Union harmless of any liability, claim, damage, or loss arising as a result of unauthorized acts of any trustee or former trustee or acts of any trustee upon which documentation we rely relied on prior to notice of revocation of the trust. This Agreement shall be binding on the trust, any trustee, successor trustee and beneficiaries. Representative Payee Accounts. A Representative Payee account is established on behalf of a recipient (Beneficiary) of benefits from the Social Security Administration (SSA), Supplemental Security Income (SSI), or the Veterans Administration (VA) on which a person, as designation by SSA/VA as Representative XxxxxPayee, acts on behalf of the beneficiary as Authorized Signer. The account is established in the name of the beneficiary as the only owner, by the Representative Xxxxx Payee as Authorized Signer. Neither the Representative Xxxxx Payee nor a third party can have ownership interest in the account. While the Beneficiary retains ownership interest, the account title must be established to not permit him or her to have direct access to the funds, for example. “(Beneficiary’s (member’s) Name) by (Representative XxxxxPayee’s Name), Representative Payee or (Representative XxxxxPayee’s Name), Representative Payee for (Beneficiary’s (member’s) Name). The Beneficiary must be eligible for membership and is the Primary Member. The Representative Xxxxx Payee agrees to be bound by the terms of the Account Agreement to provide us a copy of the written Social Security Administration authorization designating the Representative Xxxxx Payee and such other documents and authorizations, as we may deem necessary or appropriate. In opening a Representative Payee account, we only act as a depository for the Beneficiary’s SSA or SSI funds, and we are under no obligation to act as a fiduciary or to inquire as to the powers or duties of the Representative Payee. The Representative Xxxxx Payee agrees that he or she is liable to us for any and all obligations incurred by any actions or transactions with the account and agrees to indemnify and hold us harmless from and against any and all loss, costs, damage, liability, or exposure, including reasonable attorney’s fees, we may suffer or incur arising out of or related to any action or claim by a party with respect to the authority or actions taken by the Representative Payee in handling or dealing with the account. Unless expressly stated to the contrary, all of the other terms and conditions of the Membership Agreement and Disclosure apply equally to Representative Payee account. Accounts of Businesses, Organization, and Associations. Accounts held in the name of an association or organization are subject to the same terms set forth in this Agreement and the following additional rules. A majority of the members, officers, or those who control the funds of a group, club, association, or business must be eligible for membership. We reserve the right to require the member to provide a Business Account Application informing us, who is authorized to act on its behalf. You agree to notify us of any change in authority. We may rely on written authorization until such time as we are informed of changes in writing and have had a reasonable time to act upon such notice. We may require that third party checks payable to an organization, business, and/or association may not be cashed, but must be deposited to a business account of the same name. We shall have no notice of any breach of fiduciary duties arising from a transaction by any agent of the account owner unless we have actual notice of any wrongdoing. Agency Designation on an Account. An agency designation on an account is an instruction to us that the owner authorizes another person to make transactions as agent for the account owner regarding the account designated. An agent has no ownership interest in the account(s) or Credit Union voting rights. We have no duty to inquire about the use or purpose of any transaction made by the agent. Deposit of Funds Requirement. Funds may be deposited into any account, in any manner approved by us, in accordance with the requirements as set forth in the Truth-in-Savings Disclosure. Deposits made by mail, at night depositories or at unstaffed facilities are not our responsibilities until we receive them. We reserve the right to refuse or to return any deposit. Endorsements. We may accept transfers, checks, drafts, and other items for deposit into any of your accounts, if they are made payable to, or to the order of, one or more account owners even if they are not endorsed by all payees. You authorize us to supply missing endorsements of any owners we choose. If a check, draft or item that is payable to two or more persons is ambiguous as to whether it is payable to either person, we may process the check check, draft, or item as though it is payable to either person. If an insurance, government, or other check or draft requires an endorsement, we may require endorsement as set forth on the item. Endorsements must be made on the back of the share draft or check with 1- ½ inches from the top edge, although we may accept endorsements outside this space. However, any loss we incur from a delay or processing error resulting from an irregular endorsement or other markings by you or any prior endorser will be your responsibility. Collection of Items. We act only as your agent and we are not responsible for handling items for deposit or collection beyond the exercise of ordinary care. We are not liable for the negligence of any correspondent or for loss in transit, and each correspondent will only be liable for its own negligence. We may send any item for collection. Items drawn on an institution located outside the United States are handled on a collection basis only. You waive any notice of nonpayment, dishonor, or protect protest regarding items we purchase or receive for credit or collection to your account. We reserve the right to pursue collection of previously dishonored items at any time, including giving a payor bank extra time beyond midnight deadline limits. Restrictive Legends. Some checks and drafts contain restrictive legends or similar limitations on the front of the item. Examples are “two signatures required”, “not valid for more than $500.00”, or “valid after 60 days.” We are not liable for payment of any check or draft contrary to a restrictive legend or other limitations contained in or on the item unless we have specifically agreed in writing to the restrictions or limitations. Final Payment. All items or Automatic Clearing House (ACH) transfers credited to your account are provisional until we receive final payment. If final payment is not received, we may charge your account for the amount of such items or ACH transfer and impose a return item charge on your account. Any collection fees we incur may be charged to your account. We reserve the right to refuse or return any item or funds transfer. Direct Deposit. We may offer preauthorized deposits (e.g. payroll checks, Social Security, or retirement checks, or other government checks) or preauthorized transfer from other accounts. You must authorize direct deposits or preauthorized transfer by filing out a separate form. You must notify us at least thirty (30) days in advance to cancel or change a direct deposit or transfer option. If your account is overdrawn, you may authorize us to deduct the amount your account is overdrawn from any deposit, including deposits of government payments or benefits. If we are required to reimburse the U.S. Government for any benefit payment directly deposited into your account, we may deduct the amount returned from any of your accounts, unless prohibited by law. Crediting of Deposits. Deposits made after the deposit cut-off time and deposits made on either holidays or days that are not our business days will be credited to your account on the next business day.

Accounts for Living Trusts. An Account of a living trust is an individual account held by one or more trustees of a trust for the benefit of one or more beneficiaries pursuant to a revocable trust agreement. The trustee shall sign a Membership Application and provide any other evidence of the trust’s authority that we require. Trustee warrants that a valid living trust has been created, currently exists, and that the trust or beneficiaries are eligible for membership. We will not act as a trustee and is are under no obligation to inquire as to the powers or duties of the trustee(s). The Trustee agrees to notify us in writing if any change of trustee occurs. We may withhold payment of funds to any party until proper evidence of authority is provided. Except for irrevocable trust, we may rely upon the direction of any one trustee until a written notice of revocation of the trust is received. Funds may be released to any one trustee acting alone or with a co-trustee. The trustee(s) agrees to indemnify and hold the Credit Union harmless of any liability, claim, damage, or loss arising as a result of unauthorized acts of any trustee or former trustee or acts of any trustee upon which documentation we rely relied on prior to notice of revocation of the trust. This Agreement shall be binding on the trust, any trustee, successor trustee and beneficiaries. Representative Payee Accounts. A Representative Payee account is established on behalf of a recipient (Beneficiary) of benefits from the Social Security Administration (SSA), Supplemental Security Income (SSI), or the Veterans Administration (VA) on which a person, as designation by SSA/VA as Representative Xxxxx, acts on behalf of the beneficiary as Authorized Signer. The account is established in the name of the beneficiary as the only owner, by the Representative Xxxxx as Authorized Signer. Neither the Representative Xxxxx nor a third party can have ownership interest in the account. While the Beneficiary retains ownership interest, the account title must be established to not permit him or her to have direct access to the funds, for example. “(Beneficiary’s (member’s) Name) by (Representative Xxxxx’s Name), Representative Payee or (Representative Xxxxx’s Name), Representative Payee for (Beneficiary’s (member’s) Name). The Beneficiary must be eligible for membership and is the Primary Member. The Representative Xxxxx agrees to be bound by the terms of the Account Agreement to provide us a copy of the written Social Security Administration authorization designating the Representative Xxxxx and such other documents and authorizations, as we may deem necessary or appropriate. In opening a Representative Payee account, we only act as a depository for the Beneficiary’s SSA or SSI funds, and we are under no obligation to act as a fiduciary or to inquire as to the powers or duties of the Representative Payee. The Representative Xxxxx agrees that he or she is liable to us for any and all obligations incurred by any actions or transactions with the account and agrees to indemnify and hold us harmless from and against any and all loss, costs, damage, liability, or exposure, including reasonable attorney’s fees, we may suffer or incur arising out of or related to any action or claim by a party with respect to the authority or actions taken by the Representative Payee in handling or dealing with the account. Unless expressly stated to the contrary, all of the other terms and conditions of the Membership Agreement and Disclosure apply equally to Representative Payee account. Accounts of Businesses, Organization, and Associations. Accounts held in the name of an association or organization are subject to the same terms set forth in this Agreement and the following additional rules. A majority of the members, officers, or those who control the funds of a group, club, association, or business must be eligible for membership. We reserve the right to require the member to provide a Business Account Application informing us, who is authorized to act on its behalf. You agree to notify us of any change in authority. We may rely on written authorization until such time as we are informed of changes in writing and have had a reasonable time to act upon such notice. We may require that third party checks payable to an organization, business, and/or association may not be cashed, but must be deposited to a business account of the same name. We shall have no notice of any breach of fiduciary duties arising from a transaction by any agent of the account owner unless we have actual notice of any wrongdoing. Agency Designation on an Account. An agency designation on an account is an instruction to us that the owner authorizes another person to make transactions as agent for the account owner regarding the account designated. An agent has no ownership interest in the account(s) or Credit Union voting rights. We have no duty to inquire about the use or purpose of any transaction made by the agent. Deposit of Funds Requirement. Funds may be deposited into any account, in any manner approved by us, in accordance with the requirements as set forth in the Truth-in-Savings Disclosure. Deposits made by mail, at night depositories or at unstaffed facilities are not our responsibilities until we receive them. We reserve the right to refuse or to return any deposit. Endorsements. We may accept transfers, checks, drafts, and other items for deposit into any of your accounts, if they are made payable to, or to the order of, one or more account owners even if they are not endorsed by all payees. You authorize us to supply missing endorsements of any owners we choose. If a check, draft or item that is payable to two or more persons is ambiguous as to whether it is payable to either person, we may process the check , draft, or item as though it is payable to either person. If an insurance, government, or other check or draft requires an endorsement, we may require endorsement as set forth on the item. Endorsements must be made on the back of the share draft or check with 1- ½ inches from the top edge, although we may accept endorsements outside this space. However, any loss we incur from a delay or processing error resulting from an irregular endorsement or other markings by you or any prior endorser will be your responsibility. Collection of Items. We act only as your agent and we are not responsible for handling items for deposit or collection beyond the exercise of ordinary care. We are not liable for the negligence of any correspondent or for loss in transit, and each correspondent will only be liable for its own negligence. We may send any item for collection. Items drawn on an institution located outside the United States are handled on a collection basis only. You waive any notice of nonpayment, dishonor, or protect regarding items we purchase or receive for credit or collection to your account. We reserve the right to pursue collection of previously dishonored items at any time, including giving a payor bank extra time beyond midnight deadline limits.

Accounts for Living Trusts. An Account of a living trust is an individual account held by one or more trustees of a trust for the benefit of one or more beneficiaries pursuant to a revocable trust agreement. The trustee shall sign a Membership Application and provide any other evidence of the trust’s authority that we require. Trustee warrants that a valid living trust has been created, currently exists, and that the trust or beneficiaries are eligible for membership. We will not act as a trustee and is are under no obligation to inquire as to the powers or duties of the trustee(s). The Trustee agrees to notify us in writing if any change of trustee occurs. We may withhold payment of funds to any party until proper evidence of authority is provided. Except for irrevocable trust, we may rely upon the direction of any one trustee until a written notice of revocation of the trust is received. Funds may be released to any one trustee acting alone or with a co-trustee. The trustee(s) agrees to indemnify and hold the Credit Union harmless of any liability, claim, damage, or loss arising as a result of unauthorized acts of any trustee or former trustee or acts of any trustee upon which documentation we rely relied on prior to notice of revocation of the trust. This Agreement shall be binding on the trust, any trustee, successor trustee and beneficiaries. Representative Payee Accounts. A Representative Payee account is established on behalf of a recipient (Beneficiary) of benefits from the Social Security Administration (SSA), Supplemental Security Income (SSI), or the Veterans Administration (VA) on which a person, as designation by SSA/VA as Representative Xxxxx, acts on behalf of the beneficiary as Authorized Signer. The account is established in the name of the beneficiary as the only owner, by the Representative Xxxxx as Authorized Signer. Neither the Representative Xxxxx nor a third party can have ownership interest in the account. While the Beneficiary retains ownership interest, the account title must be established to not permit him or her to have direct access to the funds, for example. “(Beneficiary’s (member’s) Name) by (Representative Xxxxx’s Name), Representative Payee or (Representative Xxxxx’s Name), Representative Payee for (Beneficiary’s (member’s) Name). The Beneficiary must be eligible for membership and is the Primary Member. The Representative Xxxxx agrees to be bound by the terms of the Account Agreement to provide us a copy of the written Social Security Administration authorization designating the Representative Xxxxx and such other documents and authorizations, as we may deem necessary or appropriate. In opening a Representative Payee account, we only act as a depository for the Beneficiary’s SSA or SSI funds, and we are under no obligation to act as a fiduciary or to inquire as to the powers or duties of the Representative Payee. The Representative Xxxxx agrees that he or she is liable to us for any and all obligations incurred by any actions or transactions with the account and agrees to indemnify and hold us harmless from and against any and all loss, costs, damage, liability, or exposure, including reasonable attorney’s fees, we may suffer or incur arising out of or related to any action or claim by a party with respect to the authority or actions taken by the Representative Payee in handling or dealing with the account. Unless expressly stated to the contrary, all of the other terms and conditions of the Membership Agreement and Disclosure apply equally to Representative Payee account. Accounts of Businesses, Organization, and Associations. Accounts held in the name of an association or organization are subject to the same terms set forth in this Agreement and the following additional rules. A majority of the members, officers, or those who control the funds of a group, club, association, or business must be eligible for membership. We reserve the right to require the member to provide a Business Account Application informing us, who is authorized to act on its behalf. You agree to notify us of any change in authority. We may rely on written authorization until such time as we are informed of changes in writing and have had a reasonable time to act upon such notice. We may require that third party checks payable to an organization, business, and/or association may not be cashed, but must be deposited to a business account of the same name. We shall have no notice of any breach of fiduciary duties arising from a transaction by any agent of the account owner unless we have actual notice of any wrongdoing. Agency Designation on an Account. An agency designation on an account is an instruction to us that the owner authorizes another person to make transactions as agent for the account owner regarding the account designated. An agent has no ownership interest in the account(s) or Credit Union voting rights. We have no duty to inquire about the use or purpose of any transaction made by the agent. Deposit of Funds Requirement. Funds may be deposited into any account, in any manner approved by us, in accordance with the requirements as set forth in the Truth-in-Savings Disclosure. Deposits made by mail, at night depositories or at unstaffed facilities are not our responsibilities until we receive them. We reserve the right to refuse or to return any deposit. Endorsements. We may accept transfers, checks, drafts, and other items for deposit into any of your accounts, if they are made payable to, or to the order of, one or more account owners even if they are not endorsed by all payees. You authorize us to supply missing endorsements of any owners we choose. If a check, draft or item that is payable to two or more persons is ambiguous as to whether it is payable to either person, we may process the check check, draft, or item as though it is payable to either person. If an insurance, government, or other check or draft requires an endorsement, we may require endorsement as set forth on the item. Endorsements must be made on the back of the share draft or check with 1- ½ inches from the top edge, although we may accept endorsements outside this space. .However, any loss we incur from a delay or processing error resulting from an irregular endorsement or other markings by you or any prior endorser will be your responsibility. Collection of Items. We act only as your agent and we are not responsible for handling items for deposit or collection beyond the exercise of ordinary care. We are not liable for the negligence of any correspondent or for loss in transit, and each correspondent will only be liable for its own negligence. We may send any item for collection. Items drawn on an institution located outside the United States are handled on a collection basis only. You waive any notice of nonpayment, dishonor, or protect regarding items we purchase or receive for credit or collection to your account. We reserve the right to pursue collection of previously dishonored items at any time, including giving a payor bank extra time beyond midnight deadline limits.any

Accounts for Living Trusts. An Account of a living trust is an individual account held by one or more trustees of a trust for the benefit of one or more beneficiaries pursuant to a revocable trust agreement. The trustee shall sign a Membership Application and provide any other evidence of the trust’s authority that we require. Trustee warrants that a valid living trust has been created, currently exists, and that the trust or beneficiaries are eligible for membership. We will not act as a trustee and is are under no obligation to inquire as to the powers or duties of the trustee(s). The Trustee agrees to notify us in writing if any change of trustee occurs. We may withhold payment of funds to any party until proper evidence of authority is provided. Except for irrevocable trust, we may rely upon the direction of any one trustee until a written notice of revocation of the trust is received. Funds may be released to any one trustee acting alone or with a co-trustee. The trustee(s) agrees to indemnify and hold the Credit Union harmless of any liability, claim, damage, or loss arising as a result of unauthorized acts of any trustee or former trustee or acts of any trustee upon which documentation we rely relied on prior to notice of revocation of the trust. This Agreement shall be binding on the trust, any trustee, successor trustee and beneficiaries. Representative Payee Accounts. A Representative Payee account is established on behalf of a recipient (Beneficiary) of benefits from the Social Security Administration (SSA), Supplemental Security Income (SSI), or the Veterans Administration (VA) on which a person, as designation by SSA/VA as Representative Xxxxx, acts on behalf of the beneficiary as Authorized Signer. The account is established in the name of the beneficiary as the only owner, by the Representative Xxxxx as Authorized Signer. Neither the Representative Xxxxx nor a third party can have ownership interest in the account. While the Beneficiary retains ownership interest, the account title must be established to not permit him or her to have direct access to the funds, for example. “(Beneficiary’s (member’s) Name) by (Representative Xxxxx’s Name), Representative Payee or (Representative Xxxxx’s Name), Representative Payee for (Beneficiary’s (member’s) Name). The Beneficiary must be eligible for membership and is the Primary Member. The Representative Xxxxx agrees to be bound by the terms of the Account Agreement to provide us a copy of the written Social Security Administration authorization designating the Representative Xxxxx and such other documents and authorizations, as we may deem necessary or appropriate. In opening a Representative Payee account, we only act as a depository for the Beneficiary’s SSA or SSI funds, and we are under no obligation to act as a fiduciary or to inquire as to the powers or duties of the Representative Payee. The Representative Xxxxx agrees that he or she is liable to us for any and all obligations incurred by any actions or transactions with the account and agrees to indemnify and hold us harmless from and against any and all loss, costs, damage, liability, or exposure, including reasonable attorney’s fees, we may suffer or incur arising out of or related to any action or claim by a party with respect to the authority or actions taken by the Representative Payee in handling or dealing with the account. Unless expressly stated to the contrary, all of the other terms and conditions of the Membership Agreement and Disclosure apply equally to Representative Payee account. Accounts of Businesses, Organization, and Associations. Accounts held in the name of an association or organization are subject to the same terms set forth in this Agreement and the following additional rules. A majority of the members, officers, or those who control the funds of a group, club, association, or business must be eligible for membership. We reserve the right to require the member to provide a Business Account Application informing us, who is authorized to act on its behalf. You agree to notify us of any change in authority. We may rely on written authorization until such time as we are informed of changes in writing and have had a reasonable time to act upon such notice. We may require that third party checks payable to an organization, business, and/or association may not be cashed, but must be deposited to a business account of the same name. We shall have no notice of any breach of fiduciary duties arising from a transaction by any agent of the account owner unless we have actual notice of any wrongdoing. Agency Designation on an Account. An agency designation on an account is an instruction to us that the owner authorizes another person to make transactions as agent for the account owner regarding the account designated. An agent has no ownership interest in the account(s) or Credit Union voting rights. We have no duty to inquire about the use or purpose of any transaction made by the agent. Deposit of Funds Requirement. Funds may be deposited into any account, in any manner approved by us, in accordance with the requirements as set forth in the Truth-in-Savings Disclosure. Deposits made by mail, at night depositories or at unstaffed facilities are not our responsibilities until we receive them. We reserve the right to refuse or to return any deposit. Endorsements. We may accept transfers, checks, drafts, and other items for deposit into any of your accounts, if they are made payable to, or to the order of, one or more account owners even if they are not endorsed by all payees. You authorize us to supply missing endorsements of any owners we choose. If a check, draft or item that is payable to two or more persons is ambiguous as to whether it is payable to either person, we may process the check check, draft, or item as though it is payable to either person. If an insurance, government, or other check or draft requires an endorsement, we may require endorsement as set forth on the item. Endorsements must be made on the back of the share draft or check with 1- ½ inches from the top edge, although we may accept endorsements outside this space. However, any loss we incur from a delay or processing error resulting from an irregular endorsement or other markings by you or any prior endorser will be your responsibility. Collection of Items. We act only as your agent and we are not responsible for handling items for deposit or collection beyond the exercise of ordinary care. We are not liable for the negligence of any correspondent or for loss in transit, and each correspondent will only be liable for its own negligence. We may send any item for collection. Items drawn on an institution located outside the United States are handled on a collection basis only. You waive any notice of nonpayment, dishonor, or protect protest regarding items we purchase or receive for credit or collection to your account. We reserve the right to pursue collection of previously dishonored items at any time, including giving a payor bank extra time beyond midnight deadline limits. Restrictive Legends. Some checks and drafts contain restrictive legends or similar limitations on the front of the item. Examples are “two signatures required”, “not valid for more than $500.00”, or “valid after 60 days.” We are not liable for payment of any check or draft contrary to a restrictive legend or other limitations contained in or on the item unless we have specifically agreed in writing to the restrictions or limitations. Final Payment. All items or Automatic Clearing House (ACH) transfers credited to your account are provisional until we receive final payment. If final payment is not received, we may charge your account for the amount of such items or ACH transfer and impose a return item charge on your account. Any collection fees we incur may be charged to your account. We reserve the right to refuse or return any item or funds transfer. Direct Deposit. We may offer preauthorized deposits (e.g. payroll checks, Social Security, or retirement checks, or other government checks) or preauthorized transfer from other accounts. You must authorize direct deposits or preauthorized transfer by filing out a separate form. You must notify us at least thirty (30) days in advance to cancel or change a direct deposit or transfer option. If your account is overdrawn, you may authorize us to deduct the amount your account is overdrawn from any deposit, including deposits of government payments or benefits. If we are required to reimburse the U.S. Government for any benefit payment directly deposited into your account, we may deduct the amount returned from any of your accounts, unless prohibited by law. Crediting of Deposits. Deposits made after the deposit cut-off time and deposits made on either holidays or days that are not our business days will be credited to your account on the next business day.

Accounts for Living Trusts. An Account of a living trust is an individual account held by one or more trustees of a trust for the benefit of one or more beneficiaries pursuant to a revocable trust agreement. The trustee shall sign a Membership Application and provide any other evidence of the trust’s authority that we require. Trustee warrants that a valid living trust has been created, currently exists, and that the trust or beneficiaries are eligible for membership. We will not act as a trustee and is are under no obligation to inquire as to the powers or duties of the trustee(s). The Trustee agrees to notify us in writing if any change of trustee occurs. We may withhold payment of funds to any party until proper evidence of authority is provided. Except for irrevocable trust, we may rely upon the direction of any one trustee until a written notice of revocation of the trust is received. Funds may be released to any one trustee acting alone or with a co-trustee. The trustee(s) agrees to indemnify and hold the Credit Union harmless of any liability, claim, damage, or loss arising as a result of unauthorized acts of any trustee or former trustee or acts of any trustee upon which documentation we rely relied on prior to notice of revocation of the trust. This Agreement shall be binding on the trust, any trustee, successor trustee and beneficiaries. Representative Payee Accounts. A Representative Payee account is established on behalf of a recipient (Beneficiary) of benefits from the Social Security Administration (SSA), Supplemental Security Income (SSI), or the Veterans Administration (VA) on which a person, as designation by SSA/VA as Representative Xxxxx, acts on behalf of the beneficiary as Authorized Signer. The account is established in the name of the beneficiary as the only owner, by the Representative Xxxxx as Authorized Signer. Neither the Representative Xxxxx nor a third party can have ownership interest in the account. While the Beneficiary retains ownership interest, the account title must be established to not permit him or her to have direct access to the funds, for example. “(Beneficiary’s (member’s) Name) by (Representative Xxxxx’s Name), Representative Payee or (Representative Xxxxx’s Name), Representative Payee for (Beneficiary’s (member’s) Name). The Beneficiary must be eligible for membership and is the Primary Member. The Representative Xxxxx agrees to be bound by the terms of the Account Agreement to provide us a copy of the written Social Security Administration authorization designating the Representative Xxxxx and such other documents and authorizations, as we may deem necessary or appropriate. In opening a Representative Payee account, we only act as a depository for the Beneficiary’s SSA or SSI funds, and we are under no obligation to act as a fiduciary or to inquire as to the powers or duties of the Representative Payee. The Representative Xxxxx agrees that he or she is liable to us for any and all obligations incurred by any actions or transactions with the account and agrees to indemnify and hold us harmless from and against any and all loss, costs, damage, liability, or exposure, including reasonable attorney’s fees, we may suffer or incur arising out of or related to any action or claim by a party with respect to the authority or actions taken by the Representative Payee in handling or dealing with the account. Unless expressly stated to the contrary, all of the other terms and conditions of the Membership Agreement and Disclosure apply equally to Representative Payee account. Accounts of Businesses, Organization, and Associations. Accounts held in the name of an association or organization are subject to the same terms set forth in this Agreement and the following additional rules. A majority of the members, officers, or those who control the funds of a group, club, association, or business must be eligible for membership. We reserve the right to require the member to provide a Business Account Application informing us, who is authorized to act on its behalf. You agree to notify us of any change in authority. We may rely on written authorization until such time as we are informed of changes in writing and have had a reasonable time to act upon such notice. We may require that third party checks payable to an organization, business, and/or association may not be cashed, but must be deposited to a business account of the same name. We shall have no notice of any breach of fiduciary duties arising from a transaction by any agent of the account owner unless we have actual notice of any wrongdoing. Agency Designation on an Account. An agency designation on an account is an instruction to us that the owner authorizes another person to make transactions as agent for the account owner regarding the account designated. An agent has no ownership interest in the account(s) or Credit Union voting rights. We have no duty to inquire about the use or purpose of any transaction made by the agent. Deposit of Funds Requirement. Funds may be deposited into any account, in any manner approved by us, in accordance with the requirements as set forth in the Truth-in-Savings Disclosure. Deposits made by mail, at night depositories or at unstaffed facilities are not our responsibilities until we receive them. We reserve the right to refuse or to return any deposit. Endorsements. We may accept transfers, checks, drafts, and other items for deposit into any of your accounts, if they are made payable to, or to the order of, one or more account owners even if they are not endorsed by all payees. You authorize us to supply missing endorsements of any owners we choose. If a check, draft or item that is payable to two or more persons is ambiguous as to whether it is payable to either person, we may process the check check, draft, or item as though it is payable to either person. If an insurance, government, or other check or draft requires an endorsement, we may require endorsement as set forth on the item. Endorsements must be made on the back of the share draft or check with 1- ½ inches from the top edge, although we may accept endorsements outside this space. .However, any loss we incur from a delay or processing error resulting from an irregular endorsement or other markings by you or any prior endorser will be your responsibility. If you are approved and utilize the Credit Union’s remote deposit capture service to make deposits to your account, you agree that, prior to transmitting check or draft images, you will restrictively endorse each original check or draft in accordance with any other agreement with us that governs this service. Collection of Items. We act only as your agent and we are not responsible for handling items for deposit or collection beyond the exercise of ordinary care. We are not liable for the negligence of any correspondent or for loss in transit, and each correspondent will only be liable for its own negligence. We may send any item for collection. Items drawn on an institution located outside the United States are handled on a collection basis only. You waive any notice of nonpayment, dishonor, or protect protest regarding items we purchase or receive for credit or collection to your account. We reserve the right to pursue collection of previously dishonored items at any time, including giving a payor bank extra time beyond midnight deadline limits.your