Common use of Dormant and Abandoned Accounts Clause in Contracts

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 an a share account with a balance of less than $200 that you have not made a withdrawal with- drawal from, deposit to, or transfer involving your account for more than eighteen (18) months, or a Checking Account that you have not made a written a check on, made a withdrawal or transfer for more than six (6) 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 nonparticipationSchedule of Rates/Fees. Thereafter, dividends will not be paid on the account if 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 Inactive or Dormant checking accounts will continue to incur the monthly maintenance fee, if applicable, until closed by the membermember or Credit Union. You authorize us to transfer funds from an available share or Money Market account of yours to cover the monthly maintenance fee, if neces- sarynecessary. If a deposit or withdrawal has not been made on the account and the Credit Union has 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, 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. The Credit Union reserves the right to close Inactive or Dormant accounts at its discretion.

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, renewal of, or transfer involving your account for eighteen more than twelve (1812) months, the Credit Union may classify your account as a dormant account inactive and may charge a monthly dormant an inactive account service fee as allowed by applicable law and set forth on the Rate and Fee Schedule. Additionally, if If your account is classified as inactive and the Credit Union has been unable to contact you by regular mail during this period, the Credit Union may classify your account as dormant and may charge a dormant account, your membership may be closed due to nonparticipationaccount service fee as allowed by law and set forth on the Rate and Fee Schedule. Thereafter, dividends or interest 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 any available account of yours to cover the monthly maintenance fee, if neces- sarynecessary. If a deposit or withdrawal has not been made on the account and account, you have not otherwise indicated an interest in the account, or the Credit Union has had no other contact with you for within 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, the Credit Union has no further liability to you for such funds and if funds. If you choose to reclaim such funds, you must apply to the appropriate state agency.

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, renewal of, or transfer involving your account to or from for eighteen more than twelve (1812) months, the Credit Union may classify your account as a dormant account inactive and may charge a monthly dormant account service fee, as allowed by applicable law and as set forth on the Fee Schedule. If your account is classified as dormant and the Credit Union has been unable to contact you by regular mail during this period, we may classify your account as dormant and may charge a 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 we will not be paid pay dividends or interest on the account if the balance falls below any minimum 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 any available account of yours to cover the monthly maintenance fee, if neces- sarynecessary. If a As required by the Uniform Unclaimed Property Act, if you do not make an account deposit or withdrawal has withdrawal, you have not been made on otherwise indicated an interest in the account and account, or the Credit Union has had no other contact with you for within three (3) years as required by the Uniform Unclaimed Property Actyears, we will presume the account will be presumed to be abandoned. Funds in We will remit abandoned accounts will be remitted account funds in accordance with state law. Once the Credit Union turns funds have been turned over to the state, the Credit Union has we have no further liability to you for such funds and if funds. If you choose to reclaim such funds, you must apply to the appropriate proper state agency.

Dormant and Abandoned Accounts. If you have an account with a balance of $150.00 or less than $200 that you have not made a withdrawal from, deposit to, or transfer involving your account for eighteen more than two (182) monthsyears 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 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 Accounts will continue to incur the monthly maintenance fee, if applicable, fee 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- sarynecessary. If a deposit or withdrawal has not been made on the account and the Credit Union has 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, 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.