Common use of Requirements of Membership Clause in Contracts

Requirements of Membership. To become a member of the credit union you (as a person or an organization) must be in our field of membership (as described in our bylaws/charter) and open and maintain at least one share or savings account with the minimum required membership share/savings amount (as described in the bylaws). If you are an owner, partner, principal, shareholder, or member of an organization, that organization may also join as a member of the credit union and have its own accounts if it is principally comprised of people who are eligible for membership at the credit union. Before opening the account, we may require any signer to provide proper evidence that the organization is lawfully formed (e.g., by production of articles of incorporation, partnership agreement, business license, etc.), and to establish both his or her authority to act as a signer for the organization (e.g., notarized board resolution, partnership letter, etc.) and his or her identity as a signer of the organization.

Requirements of Membership. To become a member of the credit union Credit Union you (as a person or an organizationentity) must be in our field of membership (as described in our bylaws/charter) and open and maintain at least one share or savings account with the minimum required membership share/savings share amount (as described in the bylaws). If you are an owner, partner, principal, shareholder, or member of an organizationentity, that organization entity may also join as a member of the credit union Credit Union and have its own accounts if it is principally comprised of people who are eligible for membership at the credit unionCredit Union. Before opening the account, we may require any signer to provide proper evidence that the organization entity is lawfully formed (e.g., by production of articles of incorporation, partnership agreement, business license, etc.), and to establish both his or her authority to act as a signer for the organization entity (e.g., notarized board resolution, partnership letter, etc.) and his or her identity as a signer of the organizationentity.