Common use of DEPOSIT OF ITEMS Clause in Contracts

DEPOSIT OF ITEMS. You may make deposits in person, by mail or by any other method the Credit Union makes available, such as its automated teller machines. The Credit Union is not responsible for deposits made by mail or through a depository not staffed by the Credit Union’s personnel until the Credit Union actually receives them. If you fail to endorse an item that you submit for deposit, the Credit Union has the right, but is not obligated, to supply the missing endorsement. The Credit Union may require that certain government checks, insurance company items or other special types of checks be personally endorsed by each of the payees. You agree to reimburse the Credit Union for any loss or expense it incurs because you fail to endorse an item exactly as it is drawn. If the Credit Union receives an item on a weekend, holiday or after the Credit Union’s posted closing time, the item is deemed to have been received on the Credit Union’s next business day.