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Overdraft Privilege Disclosure

As a benefit to our members, we offer a useful feature on our checking account products - an Overdraft Privilege. With this Overdraft Privilege, we will pay your non-sufficient funds (NSF) checks, ACH transactions (and optional debit card transactions) and fees up to a pre-approved limit. This feature will save you time, embarrassment and the additional fees charged by many other companies.

The Overdraft Privilege will allow you to overdraw your account up to $500. You will be charged the normal per item NSF/Overdraft handling fee as set forth in our Service Fee Schedule — the same as if we returned your check unpaid. Of course, any and all credit union fees and charges, including without limitation, the NSF/Overdraft fees, will be included in this balance. Overdraft Privilege applies to checks, ACH items and debit card purchases (optional) only. There is no limit to the number of fees we may charge you for overdrawing your account per day or per statement period. If a debit card overdraft is $5.00 or less, the fee is waived. You have the right to opt out of the service and tell us not to pay any overdrafts. If you do, however, you may have to pay a fee if you make transactions that are returned unpaid. You also have the right to tell us not to pay overdrafts for debit card purchases, but to continue to pay overdrafts for other types of transactions.

CONDITIONS FOR THE PRIVILEGE: Naturally, it is always the policy of our credit union to comply with all applicable laws and regulations and to conduct business in accordance with applicable safety and soundness standards. Accordingly, there are a few conditions that will apply to this Overdraft Privilege feature:

You will be eligible for the Privilege unless:
1. You are more than 30 days past due on any loan obligation to the credit union; or,
2. You are subject to any legal or administrative orders or levy; or,
3. You are currently a party in a bankruptcy proceeding; or,
4. You have a current outstanding balance in an Overdraft Repayment Plan; or,
5. A hold is being placed on your account or any items and the credit union is required by law to notify you. Your Privilege will automatically be suspended without prior notice for as long as the hold is in effect; or,
6. It appears that improper activity is taking place in your account, in which case we may suspend your Privilege without notice.

You must also bring your account to a positive balance at least once every thirty (30) days to maintain your Overdraft Privilege in good standing.

EXCLUSION FROM INITIAL OFFERING:You may be excluded from the initial offering of the Overdraft Privilege if your account has been overdrawn for more than 15 consecutive days, unless sufficient grounds exist for us to believe that it is prudent to grant you the Privilege. Additionally, Overdraft Privilege is not available for New Start Checking Accounts.

SUSPENSION OF PRIVILEGE: After your Overdraft Privilege has been activated, we may suspend your privilege without notice if we become aware of any of the above conditions (numbers 1 - 6). If the balance of your checking account Overdraft Privilege exceeds $500.00 (fees are included in this balance) at any time, your Overdraft Privilege is immediately suspended until your checking account is brought to a positive balance. The credit union reserves the right to revoke this Privilege at any time.

NEW MEMBERS: If you are a new member, we will activate your Privilege after 60 days if you are eligible under the above conditions and you have not had any overdrafts during that 60-day period.

Your account agreement describes the duties, obligations and rights of depositors, authorized signatories and the credit union with regard to your deposit accounts. That account agreement is incorporated herein for all purposes as if it were set forth verbatim as to matters not directly addressed by this agreement. Your account agreement and this agreement shall be construed so as to minimize conflicts between the two agreements.

Waiver: The credit union’s forbearance from, or delay in, exercising any of the credit union’s rights, remedies, privileges, or right to insist on your strict performance of any provisions of your account agreement, the Overdraft Privilege agreement, or any other agreements related to your account, shall not be construed to be a current or future waiver of the credit union’s rights, remedies or privileges.

ARBITRATION: THE CREDIT UNION AND YOU HEREBY ACKNOWLEDGE THAT ANY CONTROVERSY ARISING OUT OF THIS OVERDRAFT PRIVILEGE OR THE CREDIT UNION'S OR YOUR PERFORMANCE HEREUNDER, SHALL BE SETTLED BY ARBITRATION IN ACCORDANCE WITH THE RULES OF THE AMERICAN ARBITRATION ASSOCIATION, EXCEPT AS PROHIBITED BY LAW.