Credit Union Lien. The Credit Union will have a lien on any or all of the funds in any account(s) in which you have ownership interest at the Credit Union, regardless of the source of the funds. At any time and without notice to you, the Credit Union may apply the funds on which it has a lien to pay off your indebtedness (except real estate secured obligations) as a borrower, guarantor or endorser to the Credit Union. If the Credit Union chooses not to enforce its lien, the Credit Union does not waive its right to enforce the lien at a later time.
Credit Union Lien. If you owe us money as a borrower, guarantor, endorser or otherwise, we have a statutory lien on the account funds in any account in which you have an ownership interest, regardless of their source, unless prohibited by law. You authorize us to use any funds received by direct deposit, including social security and veterans benefits, as part of our lien and security interest. We may apply these funds, without further notice to you, in any order to pay off your indebtedness. By not enforcing a lien, we do not waive our right to enforce it later.
Credit Union Lien. Anyone responsible for repayment under this Agreement (i.e. Obligors) agrees that your obligations under this Agreement are secured by all shares and deposits in all joint and individual accounts you have with us now and in the future. In addition to our statutory lien, you grant us a continuing security interest in these accounts and monies you have with us now or in the future. This lien or right of setoff does not apply to an Individual Retirement Account or any other tax-deferred account that would lose special tax treatment if given as a security or when prohibited by law. You authorize us to apply the balance in these accounts to pay any amounts you owe under this Agreement. You agree to hold us harmless from any claim arising as a result of the exercise of our right of set-off or security interest rights.
Credit Union Lien. You agree the Credit Union has a lien on all your shares and dividends, present and future, to the extent of your obligations to the Credit Union. You agree the Credit Union’s lien is independent of any security agreement and the Credit Union may enforce its lien in any manner, at any time allowed by applicable law.
