Dormant and Abandoned Accounts. If you have not made a withdrawal from, deposit to, or transfer involving your account for more than the period specified in the Rate and Fee Schedule, and the Credit Union has been unable to contact you by regular mail during that period, the Credit Union may classify your account as a dormant account and may charge a Dormancy Fee as allowed by applicable law and set forth on the Rate and Fee Schedule. Thereafter, dividends will not be paid on the account if the balance falls below any minimum balance requirement. The Credit Union will notify you at your last known address prior to imposing any fee as required by law. Checking accounts will continue to incur the monthly maintenance fee (if any) until closed. You authorize us to transfer funds from an available account of yours to cover the monthly maintenance fee, if necessary. If a deposit or withdrawal has not been made on the account and the Credit Union has had no other contact with you as provided or as required by the Uniform Unclaimed Property Act, the account will be presumed to be abandoned. Funds in abandoned accounts will be remitted in accordance with state law. Once funds have been turned over to the state, the Credit Union has no further liability to you for such funds and if you choose to reclaim such funds, you must apply to the appropriate state agency.
Dormant and Abandoned Accounts. Except where prohibited by applicable state law, we will consider an Account to be dormant if there has been no credit or debit activity initiated by you for a period of: (i) twelve (12) months for checking Accounts (including NOW Accounts), and (ii) thirty-six (36) months for savings and money market Accounts. Subject to applicable state law, preauthorized and automatic recurring deposits or withdrawals may not be considered credit or debit activity for purposes of determining whether an Account is dormant if established prior to the applicable dormancy periods. We will charge a dormant fee on the Account until it becomes active again or is closed unless prohibited by applicable state law. Please review the fee schedule for your Account for more information on fees. We reserve the right not to send statements on Accounts we consider inactive or dormant. Each state has laws that govern when deposit accounts are considered abandoned and when we are required to send a depositor’s funds to the state as unclaimed property. You agree that your Account will stop earning interest once it is presumed abandoned in accordance with Applicable Law, and we will transfer the Collected Balance of your Account to the state as unclaimed property and have no further liability to you for such funds.
Dormant and Abandoned Accounts. If you have an account with a balance of less than $200 that you have not made a withdrawal from, deposit to, or transfer involving your account for eighteen (18) months, the Credit Union may classify your account as a dormant account and may charge a monthly dormant account service fee as allowed by applicable law and set forth on the Rate and Fee Schedule. Additionally, if your account is classified as a dormant account, your membership may be closed due to nonparticipation. Thereafter, dividends will not be paid on the account if the balance falls below any minimum balance requirement. The Credit Union will notify you at your last known address prior to imposing any fee as required by law. Checking accounts will continue to incur the monthly maintenance fee, if applicable, until closed by the member. You authorize us to transfer funds from an available account of yours to cover the monthly maintenance fee, if neces- sary. If a deposit or withdrawal has not been made on the account and the Credit Union has had no other contact with you for (3) years as required by the Uniform Unclaimed Property Act, the account will be presumed to be abandoned. Funds in abandoned accounts will be remitted in accordance with state law. Once funds have been turned over to the state, the Credit Union has no further liability to you for such funds and if you choose to reclaim such funds, you must apply to the appropriate state agency.
Dormant and Abandoned Accounts. If you have not conducted some form of activity on your account with us within twelve (12) months, we will consider your account inactive. If a deposit or withdrawal has not been made on the account and we have had no other contact with you for three (3) years, as required by the Uniform Unclaimed Property Act, the account will be presumed to be abandoned. Funds in abandoned accounts will be remitted in accordance with state law. Once funds have been turned over to the state, we have no further liability to you for such funds, and if you choose to reclaim those funds, you must apply to the appropriate state agency.
Dormant and Abandoned Accounts. Except where prohibited by state law, we will consider an Account to be dormant if there has been no credit or debit activity initiated by you for a period of: (i) twelve (12) months for checking Accounts, and
Dormant and Abandoned Accounts. If your account falls below the minimum applicable balance or you have not made a withdrawal from, deposit to, or transfer involving your account for more than the period specified in the Rate and Fee Schedule, the Credit Union may classify your account as a dormant account. Unless prohibited by applicable law, the Credit Union may charge a service fee for continuing to process your dormant account as set forth in the Rate and Fee Schedule. You authorize us to transfer funds from another account of yours to cover any service fees, if applicable. To the extent allowed by law, the Credit Union reserves the right to transfer the account funds to an account payable and to suspend any further account statements. If a deposit or withdrawal has not been made on the account and the Credit Union has had no other sufficient contact with you within the period specified by state law, the account will be presumed to be abandoned. Unless prohibited by applicable law, the Credit Union may charge a service fee for continuing to process your abandoned account as set forth in the Rate and Fee Schedule. Funds in abandoned accounts will be reported and remitted in accordance with state law. Once funds have been turned over to the state, the Credit Union has no further liability to you for such funds and if you choose to reclaim such funds, you must apply to the appropriate state agency.
Dormant and Abandoned Accounts. If you have an account that you have not made a withdrawal from, deposit to, or transfer for more than one (1) year, the Credit Union may classify your account as a dormant account and may charge a dormant account service fee as allowed by applicable law and set forth on the Rate and Fee Schedule. Thereafter, dividends will be paid on the account unless the balance falls below any minimum balance requirement. The Credit Union will notify you at your last known address prior to imposing any fee as required by law. Checking accounts will continue to incur the monthly maintenance fee, if applicable, until closed by the member or Credit Union. You authorize us to transfer funds from another account to cover the monthly maintenance fee, if necessary. If a deposit or withdrawal has not been made on the account and the Credit Union has had no other contact with you for five (5) years as required by the Uniform Unclaimed Property Act, the account will be presumed to be abandoned. Funds in abandoned accounts will be remitted in accordance with state law. Once funds have been turned over to the state, the Credit Union has no further liability to you for such funds and if you choose to reclaim such funds, you must apply to the appropriate state agency.
Dormant and Abandoned Accounts. If a deposit or withdrawal has not been made on the account and Credit Union has had no other contact with you for one (1) year, your account(s) will be coded as “Dormant” and may be subject to a fee as set forth in the Rate and Fee Schedule. If the Credit Union has had no other contact with you for five (5) years as required by the Uniform Unclaimed Property Act, the account will be presumed to be abandoned and a fee will be assessed as set forth in the Rate and Fee Schedule. Funds in abandoned accounts will be remitted in accordance with state law. Once funds have been turned over to the state, the Credit Union has no further liability to you for such funds, and if you choose to reclaim such funds, you must apply to the appropriate state agency.
Dormant and Abandoned Accounts. If you have not made a withdrawal from, deposit to, or transfer involving your account for more than twelve (12) months and the Credit Union has had no contact with you during that period, the Credit Union may classify your account as a dormant account and may charge a dormant account service fee as allowed by Alaska law and set forth on the Rate and Fee Schedule. The Credit Union will notify you at your last known address prior to imposing any fee as required by law. The Credit Union reserves the right to suspend any account services for a dormant account. If a deposit or withdrawal has not been made on the account and the Credit Union has had no other contact with you for five (5) years, the account will be presumed to be abandoned pursuant to Alaska law. Funds in abandoned accounts will be remitted in accordance with state law. Once funds have been turned over to the state, the Credit Union has no further liability to you for such funds and if you choose to reclaim such funds, you must apply to the appropriate state agency.
Dormant and Abandoned Accounts. If you have not made a withdrawal, deposit, or transfer on your account for a 12-month period, the Credit Union may classify your account as a dormant account and may charge a dormant account service fee as allowed by applicable law and set forth on the Rate and Fee Schedule. If the dormant account balance is under the required share par value and has remained so for 12 months, the Credit Union may absorb the balance by a late charge upon authorization of the Board. If a deposit or withdrawal has not been made on the account for three (3) years as required by the Pennsylvania Department of Revenue, Abandoned and Unclaimed Property (Escheat), the account will be presumed to be abandoned. Funds in abandoned accounts will be remitted in accordance with the Pennsylvania Department of Revenue Law. Once funds have been turned over to the state, the Credit Union has no further liability to you for such funds and if you choose to reclaim such funds you must apply to the appropriate state agency.
