Credit Union Account Agreement

Responsibility – The owner: corresponds for himself (and the person or entity represented) with the terms of the account and the schedule of fees; Allows the credit union to deduct the owner`s account expenses directly; and agrees to pay additional fees for requested services that are not covered by a specific agreement. Other liability issues are addressed in the Credit Union affiliation agreement, disclosure of the truth, current account contract, loan contract, etc. Commercial accounts – accounts held on behalf of a company, organization, association or non-personal member are subject to all the conditions and conditions set out in this agreement for personal accounts, as well as the following additional rules. The Credit Union reserves the right to provide the member of the company with an account authorization card or any other proof satisfactory to the Credit Union and which informs the Credit Union, which has the authority to act on behalf of the member of the company. The account is not payable for death (POD). You agree to inform the Credit Union of any changes within this representative authority of your agent. The Credit Union can count on your written approval until the Credit Union is informed in writing of the changes and has had a reasonable period of time to respond to such a notification. The credit union may require that third-party cheques payable to a business not be cashed, but that they be deposited into a commercial account. They accept that the credit union is not aware of a breach of trust obligations resulting from transactions made by a representative of the account holder, unless the Credit Union has an effective notification of such an infringement. Withdrawals and Closing Accounts – Any owner and lawyer of a designated owner under the power of attorney is authorized to withdraw money from the account without the consent, consent or co-signer of another person, including a payment from an account prior to a declared expiry date of such an account.

The credit union may require the maximum amount of termination of an account that is required or authorized by law or by law. If no notice is provided by law or by law, the Credit Union may request notice at least 7 days before an interest-bearing account is revoked.