Common use of Lost Items Clause in Contracts

Lost Items. When receiving items from you for withdrawal or deposit, HVCU acts only as your agent and reserves the right to reverse the credit for any deposited items or to charge your account for the items, should they become lost in the collection process. Accounts as Collateral. Only savings and certificate accounts can be used as collateral on a loan. Retail Sweep Program. Savings, checking, XXXX, and money market accounts are structured into sub-accounts for regulatory accounting purposes only. HVCU may periodically transfer funds between sub accounts, but the function of these accounts is still based on the combined balances. This is done to reduce the aggregate of checking, savings, and tiered money market account balances reported to the Federal Reserve Bank, and lowers the amount of HVCU’s reserve balance at the Federal Reserve Bank. This process does not affect your available balance, the dividends you may earn, NCUA insurance protection, your monthly statement, or any other features of this account.

Lost Items. When receiving items from you for withdrawal or deposit, HVCU HVFCU acts only as your agent and reserves the right to reverse the credit for any deposited items or to charge your account for the items, should they become lost in the collection process. Accounts as Collateral. Only savings and certificate accounts can be used as collateral on a loan. Retail Sweep Program. Savings, checking, XXXX, and money market accounts are structured into sub-sub- accounts for regulatory accounting purposes only. HVCU HVFCU may periodically transfer funds between sub accounts, but the function of these accounts is still based on the combined balances. This is done to reduce the aggregate of checking, savings, and tiered money market account balances reported to the Federal Reserve Bank, and lowers the amount of HVCUHVFCU’s reserve balance at the Federal Reserve Bank. This process does not affect your available balance, the dividends you may earn, NCUA insurance protection, your monthly statement, or any other features of this account.