Applicable to All Accounts

This agreement is between any person who has become a member of the Northrop Grumman Federal Credit Union, and has signed an account signature card, and the Credit Union itself. The word(s) “member(s)”; ”you”, “I”, “owner(s)”, “account holder(s)”, refer to any actual signer of the account signature card. The word(s) “we”, “us”, or “Credit Union,” mean Northrop Grumman Federal Credit Union. By affixing your signature, to the account signature card, you also agree to be bound by any of the rules and regulations set forth by the various agencies and bylaws under which the Credit Union operates. If it becomes necessary for the Credit Union to alter any portion of the agreement here stated, you will be notified thirty (30) days prior to the effective date of the change.

GOVERNING BODIES Northrop Grumman Federal Credit Union is governed and operates under various rules and regulations, as established by Federal Governmental and State agencies, and the Bylaws of the Northrop Grumman Federal Credit Union, as adopted by its Board of Directors. Top

MEMBERSHIP ELIGIBILITY To join the Credit Union, you must meet the membership requirements, including the purchase and maintenance of at least one (1) share, ($5.00) in your share (savings) account. You must also agree to authorize the Credit Union to check or verify your account, credit and employment history, and obtain third party reports from outside agencies, as a means of determining your eligibility for certain accounts or offered services.Top

MEMBERSHIP FEE A one time membership fee may be imposed, as a requirement for opening your account, as set forth in the Schedule of Fees.Top

MEMBER IN GOOD STANDING You must be a "member in good standing" to maintain any account at the Credit Union.Top

CREDIT UNION LIABILITY REGARDING ACCOUNT INFORMATION For your above stated authorization(s), the Credit Union agrees to give you the name and address of any agency from which we obtain a report of credit on you. We also agree not to release any information in regard to your account transaction(s) to any third parties, unless, (a) the information is needed, to complete a transaction, (b) the third party is acting within the law, in verifying the existence and condition of your account, (c) it is by court order, or by governmental request, (d) to verify if there are sufficient funds in your account to pay a check or withdrawal order, that you had written, (e) to verify that you have a business relationship with us, or (f) you have given your written permission.Top

TAXPAYER IDENTIFICATION AND BACKUP WITHHOLDING Federal law requires that you provide the Credit Union with your correct Tax Payer Identification Number (TIN). For individuals, this would be your social security number. For businesses or other entities, this may be the Employer Identification Number. These numbers are used to report dividend earnings to the Internal Revenue Service (IRS). If you fail to supply the Credit Union with the appropriate number, we will not be able to open your account. If you provide an incorrect number, you may become subject to a back up withholding tax, and possible Federal Government penalties. If the Credit Union is notified that a back-up withholding situation exists, we will be obligated to pay thirty percent (30%) of any dividends or interest that your account earned to the Internal Revenue Service (IRS).Top

BUSINESS DAY A Credit Union business day is defined as “any day other than Saturday, Sunday, or a Federal Holiday.” If you make a deposit after the Credit Union's “normal” business hours, or on a day that the Credit Union is not open, we will consider that deposit to be made on the next business day.Top

REFUSAL OF ITEMS The Credit Union cannot be held responsible or liable for refusing to accept any item or instruction regarding an account if it is not in a form that has either been approved or is deemed acceptable by the Credit Union.Top

ACCOUNT OWNERSHIP/RIGHT OF SURVIVORSHIP A single signer establishes an individual Credit Union member. Two or more signers on the account signature card means that the account and all funds on deposit in it are owned jointly and that each signer, if so stated, will be empowered to act, sign, give instruction, and be responsible for the actions of the other. Each and every signer of an account will also agree to be liable for any account deficit caused by charges or overdrafts and any reasonable attorney fees that may be incurred in the collection of any deficit. In the event that an account does not have a right of survivorship and the owner dies, any interests in that account will pass to the estate of that owner. Unless it is stated differently on the account signature card, a joint account will include a right of survivorship, which would allow the ownership of all funds on deposit to pass to any other owner(s) of the account in the event that one owner dies. Should we receive conflicting instructions from the owners of an account, we will freeze that account and take no action until the conflicting instructions are reconciled. The account and any surviving owner(s) would still be subject to any liens(s) or security interest(s) that were granted by the deceased owner to the Credit Union for any obligation(s) owed, even if the surviving owner(s) had not agreed to any such grants.Top

DEPOSIT OF FUNDS/CHECK HOLDS Funds may be deposited into any account for any amount or in any manner approved by the Credit Union. However, the Credit Union reserves the right to refuse acceptance of non-cash items (checks) or delay the payment of funds for certain non-cash (check) items which are being deposited into any account by placing a “hold” on the availability of funds represented by those items for a specific time period. A standard hold would be for a minimum of one business day after the date of deposit, but could be increased to as many as seven business days, and require an “exception hold” under certain conditions. A deposit not made in person at one of our offices may be subject to a two day hold. The Credit Union could place an “exception hold” on any deposit for as long as seven business days if (a) deposits into a single account in any single day total more than five thousand ($5,000.00) dollars, (b) “returned” checks against your account are re-deposited, (c) your account has had repeated overdrafts, (d) “reasonable doubt” exists regarding the ability to collect on any item that is being deposited, and (e) “emergency” conditions exist which could delay the “collection” of any item that is being deposited. If the Credit Union places an “exception hold” on a deposit into a share draft (checking) account, no more than the first two hundred ($200.00) dollars of that deposit will be made available to you on the first business day after the day of your deposit. In the event that any of these actions are taken by the Credit Union, you will be notified either verbally, in writing, by US Mail, (notification to be sent no later than the next business day) or by any combination thereof. If the action was that of a “hold,” you will also be notified in a like manner of the first day that the “held” funds will be available to you for usage. NOTE: An account belonging to a “NEW” Credit Union member is also subject to exception holds. A NEW Credit Union member is defined as an account that has been open less than 30 days.Top

RETURNED DEPOSIT(S)/PAYMENT(S) Non-cash (check) deposits or payments applied to any account, which return unpaid by any financial institution they are drawn on may cause your account to be subject to fees as set forth in the Schedule of Fees.Top

COLLECTION OF ITEMS Certain non-cash (check) items that cannot be processed under normal banking or Credit Union procedures, will have to be forwarded to correspondent or paying financial institutions on a “collection” basis. The Credit Union will exercise ordinary care in acting as your agent only in the collection of such items and cannot be held liable or responsible for the actions of any other correspondent or loss of items within the process. Receipt of payment for items processed in this manner could sometimes be lengthy and your account may not be credited until the item is paid. A fee for this service may be charged as set forth in the Schedule of Fees. NOTE: The correspondent or paying institution may also assess fees for processing these items, and the Credit Union will have no control over their fee schedule.Top

LIEN AND SECURITY INTEREST The Credit Union will acquire a lien on any deposited funds, in any Credit Union account, other than an Individual Retirement Account (IRA) in which you have ownership, at such time that you become indebted, in any way, to the Credit Union, regardless of capacity. If it ever becomes necessary, you give the Credit Union permission to offset and apply these funds in any order to pay off any indebtedness that you may have acquired to the Credit Union. In addition, you also grant the Credit Union a consensual security interest in your account(s) so that funds on deposit in those same account(s) can be offset and used to pay any debt or portion of debt which may be owed to the Credit Union either now or in the future. Such liens cannot be conveyed to the Credit Union however if it is against the law or against an Individual Retirement Account (IRA).Top

ENDORSEMENTS The Credit Union may accept checks, drafts, or other items which are payable to the owners of an account, even if they are not endorsed by all payees. The Credit Union may affix an endorsement for any owner, but has no liability for any losses caused by incorrect or missing endorsements of the account owners, or prior endorsees.Top

PROVISIONAL CREDIT Credit given for any non-cash item (check) which is deposited into an account, regardless of form, is conditional and subject to final payment by the paying bank or financial institution. In the event that final payment is not received for a presented item, the Credit Union may reverse the credit entry to your account and you will be liable to the Credit Union for the amount of any sum(s) that were advanced to you by the Credit Union as well as possible fees as set forth in the Schedule of Fees. NOTE: Provisional credit can also be extended to you during any period that we are investigating your account for any questionable transaction or alleged error that you may have brought to our attention. That credit, if justified, could also be reversed at the end of that investigation and you would then become liable to the Credit Union as above.Top

NATURE OF DIVIDENDS Dividends are paid from current income and available earnings after required transfers to reserves at the end of a dividend period.Top

DIVIDEND RATE INFORMATION Dividend rates are established at the discretion of the Credit Union Board of Directors and are declared but not guaranteed prior to the end of the dividend period and will remain in effect, until they are amended. It could be possible that the dividend rate, as well as the annual percentage yield could change monthly. The annual percentage yield is based on the assumption that all funds on deposit in a particular account, including any earned dividends, will remain on deposit for a period of one (1) year.Top

DIVIDEND ACCRUAL Dividends will begin to accrue on the first business day of your deposit through the day prior to the date of withdrawal.Top

BALANCE COMPUTATION METHOD Dividends are calculated by the average daily balance method which applies the periodic rate to the average daily balance that was in the account for the dividend period.Top

DIVIDEND COMPOUNDING AND CREDITING Dividends are compounded monthly and are credited to your account on the first day of each subsequent month. NOTE: No dividends will be paid if (a) the average individual daily balance in a share (savings), CUTMA, trustee, business, club, IRA accumulation or money market account was less than one hundred ($100.00) dollars for the dividend period, (b) the average daily balance in a share draft (checking) account was less than five hundred ($500.00) dollars for the dividend period, (c) the average daily balance in a holiday club account was less than twenty-five ($25.00) dollars for the dividend period, (d) there is a zero balance in an account at the end of the dividend period, or (e) an account was closed during the dividend period. NOTE: Item (a) would be subject to an account maintenance fee at the end of any calendar quarter, where the balance(s) of any or all accumulated share account(s), (open under any single account number, and void of any open loans under that same account number during that quarter) total less than one hundred ($100.00) dollars as set forth in the Schedule of Fees.Top

WITHDRAWALS In most cases, funds will be available for withdrawal from any account as long as the account has sufficient funds on deposit or on certain accounts where you have established a pre-authorized overdraft source. However, the withdrawal of funds from any account must be made through an approved method of the Credit Union and is subject to the reserved right of the Credit Union to request a written notification from you of your intent to withdraw any portion or all of the funds that are on deposit in any certain account(s) sixty (60) days prior to the actual date of withdrawal. (1) Funds paid into any account through an assigned payroll deduction plan until they are credited cannot be withdrawn. (2) Funds on deposit and pledged specifically as security for a loan or funds on deposit in the account(s) of any borrower, regardless of capacity, who has delinquent obligation(s) owed to the Credit Union, cannot be withdrawn below the total amount of the owed obligation(s) without the written consent of the Credit Union. (3) Requests for the withdrawal of funds on deposit in an account on which a legal garnishment or attachment has been served, or on which there is a disputed ownership, or where verifying documents are requested, or where any kind of illegal activity is suspected, or where there appears to be any other justifiable reason, may be delayed or be denied by the Credit Union. (4) Withdrawal checks ordered by phone will be mailed out to the account address of record by the next business day. NOTE: A fee may be incurred for excessive withdrawals from your share (savings) or share draft (checking) account in a one (1) month period. See the Schedule of Fees.Top

TRANSFER LIMITATIONS Share (savings) and/or Money Market (savings) accounts are limited to six (6) transfers to either another Credit Union account of yours or to a third party in a calendar month. The Credit Union may refuse or reverse any transaction that exceeds the limitations here stated. These restrictions will not limit transfers that you may make to another account or loan which you have with the Credit Union as long as they are made in person, by mail or automated teller machine (ATM).Top

ACCOUNT CLOSURE OR TERMINATION OF PRIVILEGES The Credit Union may require your account(s) be closed and that any member be required to apply for a new account if: (a) the actual ownership has changed, (b) there is a dispute in ownership, (c) there has been any fraud or forgery, (d) share drafts (checks) have been lost/stolen, (e) or a determination has been made that it is necessary to prevent any losses. The Credit Union may also close your account(s) or terminate certain or all of your privileges without notification if: (a) your total share (savings) balance reduces to less than the required one (1) share, five ($5.00) dollars, and remains that way for a six (6) month period, (b) there is misrepresentation and/or abuse, (c) there are excessive returns of deposited non-cash items (checks), (d) there are excessive non-­sufficient items written against any share draft (checking) account, (e) any of the above five (5) “request” items, or (f) the Credit Union has suffered any financial loss through the account or the account owner(s). If your share draft checking account is inactive for 6 or more months and your regular share balance is below the required $5.00 minimum, the Credit Union may close your share draft account and transfer the funds to the regular share account.Top

DORMANT OR INACTIVE ACCOUNTS In the event that there has not been a monetary transaction, or correspondence from, or any interest shown by an account holder to a certain account for a specific period of time that account is deemed to be dormant and all funds on deposit may become subject to escheat laws and be forfeited to and become the property of the State. The Credit Union will attempt to notify you at the time that your account is deemed as dormant and prior to the escheat of any funds by mailing notification to your last address of record. NOTE: Escheat laws may vary by state and different state laws may prevail according to the state that the account is actually housed in.Top

PAY ON DEATH (POD) DESIGNATION A payable on death (POD) account or trust account designation gives the Credit Union instructions that a single or joint account is payable to the account owner(s), until the last living owner dies. Once this occurs, then the account becomes payable to any named and surviving payable on death payee(s) or trust beneficiary(ies). In the event that more than one payee or beneficiary is named, the account(s) would be jointly owned. Such designations cannot be put on an Individual Retirement Account (IRA). The Credit Union has no obligation to notify any named payee or beneficiary of the account or vesting unless it is provided by law.Top

POWER OF ATTORNEY (POA) The Credit Union is under no obligation to honor any Power of Attorney (POA), which may be presented on any account for any reason.Top

CREDIT UNION LIABILITY The Credit Union, which will be compliant with all of the regulations and rules that govern it, will exercise ordinary care in performing any requested transaction(s) on your behalf. However, if we fail to properly complete any transaction according to the terms of this agreement, we will be liable to you for any losses or damages up to, and not to exceed, the amount of that transaction, unless there are additional provisions permitted by law. We will not be liable for consequential damages, except in the case of wrongful dishonor. We also cannot be held liable for not properly completing your requested transaction, or causing you loss, if, (a) there are not enough "available" funds on deposit in your account for us to complete the transaction, (b) your loss was caused by the negligence of another financial institution involved in that transaction, (c) you did not give us proper instructions, or, (d) we were prevented from completing the transaction due to "circumstances beyond our control."Top

REGULAR SHARE (SAVINGS) ACCOUNT DISCLOSURE NOTES: (1) ACCOUNT HAS RESTRICTIONS SEE “TRANSFER LIMITATIONS” (2) ACCOUNT CAN BE USED AS AN OVERDRAFT SOURCE.

  1. A one-time membership fee may be charged.
  2. You must purchase and maintain at least one (1) share ($5.00) dollars in your account.
  3. YOU ARE REQUIRED TO OPEN AND MAINTAIN ACCORDING TO RULE #2 THIS SHARE (SAVINGS) ACCOUNT BEFORE OPENING ANY SUFFIX ACCOUNT.
  4. You may deposit any amount by any approved method at anytime.
  5. Non-cash “hold” policies may apply (see DEPOSIT OF FUNDS/CHECK HOLDS).
  6. Withdrawals and transfers may be made for any available amount, by any approved method, but are subject to the following limitations:
    1. Call 24 or pre-authorized transfers are limited to six (6) in one month,
    2. Call 24 minimum withdrawals are twenty ($20.00),
    3. ATM withdrawals or transfers are unlimited at any Norteller machine,
    4. ATM withdrawals or transfers are unlimited at any Non-Norteller machine, however, any withdrawal exceeding one (1) in one month may be subject to a fee as set forth in the Schedule of Fees,
    5. Over the counter withdrawals or transfers are unlimited, however, any of these type of transactions exceeding one (1) in one month may be subject to a fee as set forth in the Schedule of Fees.
  7. An account maintenance fee, as set forth in the Schedule of Fees, may be charged at the end of any calendar quarter where the cumulative shares (savings) balance or cumulative average daily share (savings) balance for the quarter under any single account number is less than one hundred ($100.00) dollars unless, during that quarter, a loan under that same account number accumulated an interest charge or the primary account holder is under the age of 18.
  8. This account may be subject to other fees as set forth in the Schedule of Fees.
  9. See DIVIDEND RATE INFORMATION, DIVIDEND ACCRUAL, BALANCE COMPUTATION METHOD, DIVIDEND COMPOUNDING AND CREDITING.Top

HOLIDAY CLUB ACCOUNT DISCLOSURE

  1. This account is set up on an annual cycle that runs from November 1st until the following October 31st of the next year, unless you tell us to close it.
  2. The minimum opening deposit must be in the amount of no less than twenty-five ($25.00) dollars.
  3. This account anticipates that deposits via automatic transfer from your Share, Share Draft or Money Market account will be made either weekly (on Friday) or monthly (on your choice of day prior to the 26th of that month).
  4. Transfers are anticipated to equal at least twenty ($20.00) per month.
  5. If funds are not available in your designated transfer account on the regular transfer date, you will not receive credit for that missed transfer amount, and if three (3) consecutive scheduled transfers are missed, the Credit Union can close this account, and transfer all funds on deposit to your Regular Share account.
  6. Each year by the 5th day of November all funds (including interest) that were on deposit in this account as of October 31st, except for five ($5.00) dollars, will be distributed to your Regular Share account, and you will be notified of that transfer at your address of record.
  7. No dividend will be paid on this account if the average daily balance was less than twenty-five ($25.00) dollars during the dividend period. See DIVIDEND RATE INFORMATION, DIVIDEND ACCRUAL, BALANCE COMPUTATION METHOD, DIVIDEND COMPOUNDING AND CREDITING.
  8. Transfers that you authorized on this account will continue until you tell us in writing to stop them.
  9. There is a five ($5.00) dollar fee for any withdrawal or account closure during the time period of January 1st through October 31st of the annual cycle. However, there is no fee for a maximum of two (2) withdrawals during the time period of November 1st through December 31st of that cycle.Top

SHARE DRAFT (CHECKING) ACCOUNT DISCLOSURE

  1. There are no transaction limitations on this account.
  2. You may deposit any amount by any approved method at anytime.
  3. Non-cash “hold” policies may apply (see deposit of funds/check holds).
  4. Withdrawals and transfers may be made for any available amount by share draft blank(s) or by any other approved method.
  5. See DIVIDEND RATE INFORMATION, DIVIDEND ACCRUAL, BALANCE COMPUTATION METHOD, DIVIDEND COMPOUNDING AND CREDITING.
  6. ATM withdrawals or transfers are unlimited at any Norteller machine.
  7. ATM withdrawals and transfers are unlimited at any non-Norteller machine, however any withdrawal exceeding one (1) in one month may be subject to a fee as set forth in the Schedule of Fees. 
  8. Over the counter withdrawals and transfers are unlimited, however any of these type of withdrawals exceeding one (1) in one month may be subject to a fee as set forth in the Schedule of Fees.
  9. This account may be subject to other fees as set forth in the Schedule of Fees.Top

ADDITIONAL TERMS AND CONDITIONS TO SHARE DRAFT (CHECKING) ACCOUNTS

  1. The Credit Union procedures do not allow us to examine every draft presented for payment against your account by sight. We are concerned with the signature of the drawer, the amount of the item, and with any magnetic encoding. You agree that we are not failing to exercise ordinary care in the payment of your drafts by not conducting a sight examination.
  2. The Credit Union may pay any draft presented for payment against your account regardless of its date even if it is post dated unless you notify us differently. Notification of any post dated item can be verbal, but must be followed by written instruction within fourteen (14) days to remain in effect. This instruction must be made in a timely manner for the Credit Union to act. We will require the exact number, date, and amount of the draft and cannot be held responsible for incorrect information that you provide. A written instruction will remain in effect for six (6) months.
  3. You agree not to deposit any checks, drafts or other items to your account which are post dated.
  4. The Credit Union is not obligated to pay any draft or check drawn on your account and presented for payment against your account if it is more than six (6) months past its date.
  5. The Credit Union is not required to notify you if your account does not have sufficient funds on any given day to pay any presented drafts or other items.
  6. If the Credit Union covers or pays one or any overdraft on your account, we are not bound to pay any other overdrafts in the future unless there is a written agreement.
  7. If the Credit Union determines that there is an insufficient balance to pay a presented draft, there is no requirement for the account balance to be looked at again between the presentment time and before any midnight deadline before returning the item as unpaid.
  8. The Credit Union has no obligation to pay any draft presented for payment against your account if there are not sufficient funds on deposit to cover that draft or if you have not designated any other overdraft source or you have not been approved for any other overdraft protection plan where funds would be available.
  9. If you have made an arrangement for funds to be transferred from your other accounts within the Credit Union or from a pre-approved loan overdraft source, we will honor and pay any drafts which would cause an insufficient funds situation to your account as long as such funds are available for transfer from your designated source(s).
  10. If an account is owned jointly by two or more parties, those same parties must have joint ownership in any accounts that will be used as an overdraft source.
  11. The Credit Union may close your Share Draft (checking) account at any time without notification to you. See ACCOUNT CLOSURE OR TERMINATION OF PRIVILEGES.
  12. The Credit Union participates with an account rating service and may obtain information about your account history with other financial institutions prior to opening a Share Draft (checking) account. We may also report negative account activity to that service.Top

OVERDRAFT PROTECTION If you established any other account within the Credit Union as a source for funds to be transferred to assure payment of drafts or other items that may be presented against any insufficient funds in your Share Draft (checking) account, the Credit Union would transfer funds and pay those drafts or items in a manner herewith described and as long as there were funds available within the sources.

  1. If you have chosen either your Regular Share (savings) or Money Market account as your overdraft source, we will transfer funds in increments of two hundred ($200.00) dollars up to your available balance to your Share Draft (checking) account to cover any insufficient funds situation that a draft or other item presented for payment may cause. NOTE: Regular Share (savings) and Money Market accounts have restrictions. See TRANSFER LIMITATIONS.
  2. If you have applied for and have been approved for a MoneyMaster Line of Credit signature loan and have chosen it as your overdraft source, we will transfer funds in increments of fifty ($50.00) dollars up to your available credit limit to your Share Draft (checking) account to cover any insufficient funds situation that a draft or other item presented for payment may cause. NOTE: This transfer will either create a loan balance or increase any outstanding loan balance that you may already have on your MoneyMaster Line of Credit signature loan.Top

STOP PAYMENT ORDERS You may place an order with the Credit Union to stop the payment of any draft which is drawn on your account. Such orders can be verbal in nature, but will only remain effective for fourteen (14) days unless they are confirmed in writing during that period. Written stop orders will remain in force for six (6) months, however they can be renewed in writing at expiration. The Credit Union has no obligation to remind or notify you of the expiration of any stop payment order. You must provide exact information regarding your account number, the draft number, and the draft amount when placing a stop payment order. You must also provide this information in a manner deemed sufficient enough to allow the Credit Union to act on your order.

  1. If you do not provide us with exact information, or if we are not given sufficient time to act, the Credit Union will not be liable for the payment of any draft.
  2. If you used any form of check guarantee when you issued a particular draft or obligated yourself in anyway to guarantee payment of the draft to a third party who becomes a “holder in due course,” you may still be responsible for the payment of that draft even though you issued a stop order.
  3. If the Credit Union pays any draft over a valid stop order, you agree to give us a written statement which describes any dispute you may have with the payee and you also agree to assign all rights that you may have against the payee to the Credit Union and assist us in legal actions against the payee if it becomes necessary.
  4. The Credit Union issues "official" checks which can only be stopped by the Credit Union and only after being reported as lost or stolen by the account owner(s). A refund for any amount which was designated in the check will not be credited back to your account until the fourth business day after the Credit Union receives the stop order request.
  5. The Credit Union issues cashiers checks which can only be stopped by the Credit Union and only after being reported as lost or stolen by the account owner(s). A refund for any amount which was designated in the check will not be credited back to your account until the later of, (a) the fourth business day after the Credit Union receives the stop order request, (b) ninety (90) days from the date of issue of the cashiers check.
  6. Although payment can be stopped on any item, you may remain liable to anyone holding that item and therefore you agree to hold the Credit Union harmless from any costs or claims that may arise from our refusal to pay any item per your instruction or due to incorrect information supplied by you.
  7. A fee may be charged for either placing or removing any stop payment order as set forth in the Schedule of Fees.Top

YOUTH ACCOUNTS Any minor under the age of eighteen (18) years who can present a valid social security number, who can sign the account signature card and is sponsored by an individual currently in the Credit Union field of membership can open a Regular Share (savings), a Term, or Money Market account.

  1. Minors who are at least sixteen (16) but less than eighteen (18) years old can apply to have a Share Draft (checking) account with automated teller machine (ATM) access as long as there is a qualified joint owner who is eighteen (18) years or older also signed on the account.
  2. The quarterly maintenance fee is waived and dividends are paid with the waiver of the one hundred ($100.00) dollar minimum balance requirement on this account. All other fees or charges remain in force as set forth in the Schedule of Fees.
  3. See DIVIDEND RATE INFORMATION, DIVIDEND ACCRUAL, BALANCE COMPUTATION METHOD, DIVIDEND COMPOUNDING AND CREDITING.
  4. A Youth Account will be converted to a Regular Share Account when the minor reaches eighteen (18) years of age.Top

UNIFORM TRANSFER TO MINOR ACT (UTMA) This account is established by a custodian who deposits and transfers funds as an irrevocable gift to a minor. The custodian is responsible for any transactions or fees as set forth in the Schedule of Fees. The minor is named as beneficiary on the account.

  1. The transfer of funds under this act could affect your legal rights. THE CREDIT UNION DOES NOT GIVE LEGAL ADVICE, therefore, you should consult an attorney for any legal concerns.
  2. The Credit Union has no duty to inquire about any purpose or use of any transaction.
  3. If the custodian dies, the account becomes “frozen” until we receive further instructions regarding anyone who by law could remove the funds on deposit.
  4. See DIVIDEND RATE INFORMATION, DIVIDEND ACCRUAL, BALANCE COMPUTATION METHOD, DIVIDEND COMPOUNDING AND CREDITING.
  5. This type of account must be closed when the minor reaches eighteen (18) years of age. NOTE: State laws may vary according to the state in which the account is housed.Top

MONEY MARKET ACCOUNT DISCLOSURE

NOTES: (1) Account has restrictions. See “TRANSFER LIMITATIONS” (2) Account can be used as an overdraft source. (3) Drafts can be ordered which pay directly from this account. The minimum balance to open and maintain a money market account is twenty-five hundred ($2,500.00) dollars.

  1. If the average daily balance during any dividend period drops below the required twenty five hundred ($2,500.00) dollars, but not less than ($100.00) dollars, the paid dividend rate will reduce to the rate being paid on a Regular Share (savings) account for that dividend period.
  2. If the average daily balance during any dividend period drops below one hundred ($100.00) dollars, no dividend will be paid for that dividend period.
  3. If the average daily balance drops below the required twenty five-hundred ($2,500.00) dollars and remains below that minimum for sixty (60) days, we can, at our option, close the Money Market account and transfer all remaining funds on deposit to your Regular Share (savings) account.
  4. See DIVIDEND RATE INFORMATION, DIVIDEND ACCRUAL, BALANCE COMPUTATION METHOD, DIVIDEND COMPOUNDING AND CREDITING.Top

TERM ACCOUNT DISCLOSURE The following information pertains to all term accounts unless noted either in this disclosure or in the titled individual term disclosures which are listed hereafter.

  1. The minimum balance required to open a Term account is twenty-five hundred ($2,500.00) dollars. EXCEPTION: See INDIVIDUAL RETIREMENT.
  2. Term accounts can be opened for six (6) or thirty (30) months, or one (1), two (2), three (3), four (4), five (5), or seven (7) year periods. NOTE: The Credit Union will open a term account that will mature in tandem with an existing term account to allow the two term accounts to automatically roll into a combined term account of the longer term at maturity.
  3. See DIVIDEND RATE INFORMATION, DIVIDEND ACCRUAL, BALANCE COMPUTATION METHOD, DIVIDEND COMPOUNDING AND CREDITING.
  4. Dividends can remain on deposit in the account to compound until the maturity date; or dividends can be transferred monthly to either your Regular Share (savings), Share Draft (checking), or Money Market account; or dividends can be mailed to your address of record in the form of a check. NOTE: Transfer of dividends from the Term account will reduce the annual yield.
  5. BONUS: You may receive a higher dividend rate if the opening balance of any term account, or in the case of the accumulated balances of “Laddered” term accounts, is/are forty thousand ($40,000.00) or more dollars. See BONUS LADDERED TERM ACCOUNT.

  6. All principal withdrawals prior to maturity, of any term account will be subject to substantial early withdrawal penalties.
  7. PENALTY CHART Applicable to all Term Accounts

    The following chart details the Credit Union’s early withdrawal penalties:

TERM TERM ACCOUNT BALANCE AFTER THE WITHDRAWAL
12 Months or less Required minimum balance or more
Penalty* 90 days dividend on the amount withdrawn
12 Months or less Less than the required minimum balance
Penalty* 90 days dividend on the entire account balance. The remaining balance will be transferred to the Regular Share (Savings) Account.
Over 12 Months Required minimum balance or more
Penalty* 182 days dividend on the amount withdrawn
Over 12 Months Less than the required minimum balance
Penalty* 182 days dividend on the entire account balance. The remaining balance will be transferred to the Regular Share(Savings) Account.

* The penalty can deplete a portion of principal if funds have been on deposit for less than the number of penalty days.

  1. All term accounts will automatically renew at maturity for a similar term at the then prevailing interest rate unless you advise us differently. EXCEPTION: See BONUS LADDERED TERM ACCOUNT.
  2. We will notify you of any renewal prior to the maturity date by sending notification through the mail to your address of record.
  3. You will have a grace period of ten (10) business days after the maturity of any term account to withdraw the funds on deposit without being subject to any early withdrawal penalty. NOTE: The Board of Directors may redeem term accounts prior to the expiration of the maturity date upon thirty (30) days notice.Top

BONUS "LADDERED" TERM ACCOUNT A member may initiate a defined "Laddered" term program by splitting the funds on deposit with the Credit Union into a minimum of three (3) different maturity term accounts. When each of the shorter term accounts matures, it will be renewed for a term equal to the longest term represented in the defined "Ladder." When a term account is renewed it will be set up to receive the prevailing dividend rate at the time of renewal. For example, a "Laddered" term account program that is initiated with a one- year term account, a two- year term account and a three- year term account will renew as follows: The one-year term account will mature in one year and will be renewed as a three-year term account at the prevailing rate for a three-year term account. The two-year term account will mature in two years and will be renewed as a three-year term account at the prevailing rate for a three-year term account. In this scenario, the three accounts will then mature one year apart as long as the defined "ladder" program remains active. BONUS: As in all term accounts, you may receive a higher dividend rate on each term account included in a defined "ladder" since the combined initial balances of those accounts must total forty thousand ($40,000.00) or more dollars. NOTE: If the aggregate balance of the term accounts that qualified you for a bonus in a "Laddered" program drops below forty thousand ($40,000.00) dollars, you will lose the dividend bonus, and the stated dividend rates will be reduced accordingly on each of the individual term accounts that are included within the defined "ladder."

See DIVIDEND RATE INFORMATION, DIVIDEND ACCRUAL, BALANCE COMPUTATION METHOD, DIVIDEND COMPOUNDING AND CREDITING.Top

INDIVIDUAL RETIREMENT ACCOUNTS (IRAs) It will be the responsibility of the account holder to assure that a deposit or contribution into any IRA account will be subject to the terms and conditions of the IRA Plan Agreement, and in compliance with IRA regulations. The Credit Union is not responsible for determining if an IRA deposit or contribution is compliant.

You may withdraw from or close an Individual Retirement Account (IRA) at anytime, however, either action may subject you to certain State or Federal penalties as well as the substantial early withdrawal penalties imposed by the Credit Union if your (IRA) is in the form of a term account. See The early withdrawal penalty chart.

See DIVIDEND RATE INFORMATION, DIVIDEND ACCRUAL, BALANCE COMPUTATION METHOD, DIVIDEND COMPOUNDING AND CREDITING.Top

INDIVIDUAL RETIREMENT ACCOUNT (IRA) TERM ACCOUNT A minimum contribution or deposit of two thousand ($2,000.00) dollars is required to open this account. IRA term accounts can be opened for one (1), two (2), three (3), four (4), five (5), or seven (7) year periods. See TERM ACCOUNT. See DIVIDEND RATE INFORMATION, DIVIDEND ACCRUAL, BALANCE COMPUTATION METHOD, DIVIDEND COMPOUNDING AND CREDITING.Top

MONEY MARKET INDIVIDUAL RETIREMENT ACCOUNT (IRA) A minimum contribution or deposit of twenty-five hundred ($2,500.00) dollars is required to open this account.

  1. If the average daily balance during any dividend period drops below the required twenty-five hundred ($2,500.00) dollars, but not less than one hundred ($100.00) dollars, the paid dividend rate will reduce to the rate being paid on the Accumulation Share (savings) Individual Retirement Account for that dividend period.
  2. If the average daily balance during any dividend period drops below one hundred ($100.00) dollars, no dividend will be earned or paid for that dividend period.
  3. If the average daily balance drops below the required twenty-five-hundred ($2,500.00) dollars and remains below that minimum for sixty (60) days, we can, at our option, close the Money Market Individual Retirement Account and transfer all remaining funds on deposit to an Accumulation Share (savings) Individual Retirement Account.
  4. See DIVIDEND RATE INFORMATION, DIVIDEND ACCRUAL, BALANCE COMPUTATION METHOD, DIVIDEND COMPOUNDING AND CREDITING.Top

INDIVIDUAL RETIREMENT ACCOUNT (IRA) ACCUMULATION SHARE A minimum deposit of five ($5.00) dollars is required to open and maintain this account. See REGULAR SHARE (SAVINGS) ACCOUNT.

  1. You may make deposits into this account at anytime and for any amount up to the maximum amount that is allowed by the Internal Revenue Service regulations in one year.
  2. See DIVIDEND RATE INFORMATION, DIVIDEND ACCRUAL, BALANCE COMPUTATION METHOD, DIVIDEND COMPOUNDING AND CREDITING.

ELECTRONIC SERVICES This disclosure is given in compliance with the Electronic Funds Transfer Act and Regulation E to inform you of certain terms and conditions of the electronic funds transfer services that the Credit Union provides. The terms and conditions herein described may be changed by the Credit Union, as needed. In the event of a change and this disclosure is amended, you will be notified in writing at least thirty (30) days prior to the effective date of the change. NOTE: To obtain any of the services described in this disclosure, you must be a Credit Union member. See MEMBERSHIP ELIGIBILITY.

  1. The retention and use of any access device or use of any electronic service which you qualified for and obtained through the Credit Union will be your agreement to and acceptance of any regulations, rules, procedures, instructions, or other disclosures pertaining to and which govern accounts that you can access electronically.
  2. The use of any access device or electronic service also means that you have received a copy of this Electronic Services Disclosure.
  3. A Credit Union ordered access device will be the property of the Credit Union and must be surrendered upon demand.
  4. After you receive any Credit Union ordered access device, you will receive by mail a Personal Identification Number (PIN) to be used in conjunction with it.Top

PERSONAL IDENTIFICATION NUMBERS The use of a personal identification number (PIN) by any member(s), either separately or in conjunction with any authorized device(s), by which funds in any of their account(s) may be accessed, shall have the same force and effect as the account holder(s) signature. NOTES: (1) Your personal identification number (PIN) should never be written on or affixed to any account access device (2) If your access device and personal identification number (PIN) become available to any person, remember that they will be able to gain information about, or transact business on, any of your accounts which may be accessible. (3) The Credit Union will not know your PIN in the event that you lose or forget it. In the event that the PIN is one that you selected, you will be required to select a new one in writing. If your PIN was pre-selected and you received it by US Mail after receiving the corresponding card in a like manner, you will need to contact the Credit Union to order a replacement PIN from the card issuer. A fee may be charged for this order as set forth in the Schedule of Fees.Top

GENERAL INFORMATION ABOUT BUSINESS DAYS OR TIME PERIODS OF ELECTRONIC SERVICE ACCESSIBLITY

Northrop Grumman Federal Credit Union BUSINESS DAYS are any day of the week except Saturday, Sunday, or federal holidays.
The main office of the Credit Union is located at 879 W. 190th St., Gardena, California 90248.
The mailing address for the Credit Union is: Box 47009, Gardena, California 90247-6809.
The general telephone numbers for the Credit Union are 310-808-4000 or 800-633-2848.
CALL 24 will normally be available 24 hours a day, seven days a week. The phone numbers are 310-327-0682 or 800-676-3328.
NORTELLER automated teller machines will normally be available 24 hours a day, seven days a week. (Some access may be limited due to location)
STAR, CIRRUS, CO-OP, or Visa Networks will normally be available 24 hours a day, seven days a week. (Some access may be limited due to location or operational hours of a business in which the (ATM) or terminal may be located.)Top

PROMPT REPORTING BY YOU OF UNAUTHORIZED TRANSFERS COULD LIMIT OR REDUCE YOUR LIABILITIES If you believe that any access device or PIN of yours has been lost or stolen or that someone may use these items without your permission, you must report this information to the Credit Union upon discovery or you could lose all of the funds in your account(s) or from any available credit line(s). Contact the Credit Union by phone immediately to report these occurrences.

  1. If you notify us within two (2) business days after discovery of any loss or theft of any access device or PIN, your maximum liability for any unauthorized transfer would be fifty ($50.00) dollars.
  2. If you do not notify us within two (2) business days after discovery of any loss or theft of any access device or PIN and we can prove that with an earlier notification we could have prevented some of the loss, your maximum liability for any unauthorized transfer would be five hundred ($500.00) dollars.
  3. If your periodic statement reflects an unauthorized transfer caused by any reason and that unauthorized transfer is not reported to the Credit Union within sixty (60) days of the statement being mailed to you, and we can prove that any of these unauthorized transfers would not have happened had we been notified in timely manner, you may not get any funds back on any unauthorized transfers that occurred after the sixty (60) day period and before any reporting date. In this case, if the unauthorized transfer was not due to a lost or stolen access device or PIN, your liability would be limited to the amount of the transfers. If the unauthorized transfer was due to a lost or stolen access device, you may also be liable for any amounts as described in numbers 1 & 2 above. NOTES: (1) If extenuating circumstances existed which caused any delay in your notifying us of any unauthorized transfer(s), the time periods referenced above may be extended by a reasonable time. (2) You may report the loss, theft, or intent of anyone to use any access device or PIN belonging to you or any unauthorized transfer to the Credit Union by making an in-person visit, by telephone, through the_Max! eBranch, or by US Mail. The Credit Union main office information is provided above for your reference, however, you may also contact any Credit Union branch office.Top

PRE-AUTHORIZED DEPOSITS, TRANSFERS, WITHDRAWALS AND PAYMENTS The owner(s) of any account in which automatic deposits, transfers, withdrawals or payments can be made, shall be responsible for either initiating or terminating those deposits, withdrawals, transfers or payments, by providing the Credit Union with written documentation of their intent. You will be liable for any unauthorized transfers that are made from your account by a third party.

Deposits

  1. Pre-authorized deposits or transfers require at least a thirty (30) day advance notice to change or cancel.
  2. Pre-authorized deposits can only be made into your Regular Share (savings) or Share Draft (checking) accounts.
  3. You may call the Credit Union on any business day or use Call 24 or the_Max! eBranch to determine if your recurring deposit has been credited to your account. See Call 24 ELECTRONIC TELEPHONE TRANSFERS or the_Max! eBranch. That deposit will also be shown on your next account statement.
  4. In the event that the Credit Union is required to repay the United States Government for any benefit payment that was automatically deposited into your account, you give us permission to deduct the amount that was returned to the Government from any of your accounts.

Payments

  1. Pre-authorized payments can only be made from your Regular Share (savings) or Share Draft (checking) accounts.
  2. Any transfers or payments will be shown on your next periodic statement.
  3. You may stop any pre-authorized payment that you had ordered by notifying us either verbally or in writing and at least three (3) business days prior to the time when the payment is to be made. A verbal request must be affirmed in writing, within fourteen (14) days, or the request will no longer be valid. A written stop order which gives exact information will remain in force for six (6) months. See STOP PAYMENT ORDERS. You should also contact the payee of your original order to advise them of your intent to stop the pre-authorized payment to them. We may require that you provide us with a copy of a written "stop" order to the payee. NOTES: (1) A fee may be charged as set forth in the Schedule of Fees. (2) A fee may be charged for each and any electronic funds transfer that causes any negative account balance as set forth in the Schedule of Fees.Top

CREDIT UNION LIABILITY FOR ELECTRONIC FUNDS TRANSFER The Credit Union, which will be compliant with all of the regulations and rules that govern it, will exercise ordinary care in performing any requested transactions on your behalf. However, if we fail to properly complete any transaction according to the terms of this agreement, we will be liable to you for any losses or damages up to and not to exceed the amount of that transaction, unless there are additional provisions permitted by law. We cannot be held liable for not completing an electronic funds transfer or causing you any loss if: (a) there are not enough available funds on deposit in your account for us to complete the transfer, (b) the transfer would go over the approved limit of your MoneyMaster Line of Credit when it is designated as a source of funds for overdraft protection, (c) any automatic teller machine (ATM) that you are using is out of cash, (d) your access device has either expired or the magnetic encoding strip cannot be read, is inactive due to non or misuse, or has been retained by the (ATM) for any reason, or (e) we were prevented from completing the transfer due to circumstances beyond our control, such as an interruption to electrical power.

CREDIT UNION LIABILITY REGARDING ACCOUNT INFORMATION The Credit Union will not release any information with regard to your account transactions to any third parties unless (a) the information is needed to complete a transaction, (b) the third party is acting within the law in verifying the existence and condition of your account, (c) it is by court order or by governmental request, (d) to verify if there are sufficient funds in your account to pay a check or withdrawal order that you have written, (e) to verify that you have a business relationship with us, (f) you have given your written permission.Top

NORTELLER AUTOMATED TELLER MACHINE (ATM) The Credit Union owns and maintains its own network of automated teller machines (ATMs). The common designation for this network is "NORTELLER." NOTE: Any other person for whom you may want to order a Norteller ATM card or Visa ATM/check card on your account must be a joint signer on all the accounts for which the card provides access.

  1. At a Norteller ATM you can (a) make balance inquiries on your Regular Share (savings), Share Draft (checking), Money Market, and MoneyMaster Line of Credit account(s), (b) make deposits or withdrawals on your Regular Share (savings), Share Draft (checking), and Money Market account(s), (c) advance on or make payments to your MoneyMaster Line of Credit, (d) make transfers between your Regular Share (savings), Share Draft (checking), and Money Market accounts, as well as transfer from any of these accounts to make payments on your MoneyMaster Line of Credit. NOTES: (a) Withdrawals, transfers, or loan advances can only be made when funds are available to perform these transactions. (b) There are no fees for transactions performed at any Norteller ATM when using a Norteller ATM card or NGFCU issued Visa ATM/check card.Top

ADDITIONAL AUTOMATED TELLER MACHINE (ATM) DISCLOSURES The Credit Union also gives you additional ATM access to your Regular Share (savings) and Share Draft (checking) accounts by belonging to the Star, Cirrus, and Co-op ATM networks.

  1. On the Star, Cirrus, and Co-op networks you have access to your Regular Share (savings) and Share Draft (checking) accounts only. You can obtain balance inquiries or perform transfers or withdrawals from those accounts only. NOTE: The "owner" of the ATM thatt is used within these networks may assess you a surcharge for the use of “their” machine. On these non-Norteller machines, the Credit Union may assess a fee for balance inquiries or withdrawals in excess of one (1) per month from either your Regular Share (savings) or Share Draft (checking) account(s) as set forth in the Schedule of Fees. See WITHDRAWALS ­Note.
  2. At stores, shops, etc., equipped with terminals or cash machines connected to the Star network, you can use your Norteller ATM card to make purchases. The cost of those purchases will be debited directly from your Share Draft (checking) account. NOTE: Withdrawals, transfers, or purchases can only be made when funds are available to perform these transactions.Top

OTHER INFORMATION REGARDING ATMs OR ATM ACCESS

  1. The minimum withdrawal amount at most ATMs is twenty ($20.00) dollars and the maximum amount of withdrawal in one day is four hundred ($400.00) dollars when you use the Norteller ATM access card, and five hundred ($500.00) dollars when you use the Visa ATM/check card. NOTE: Withdrawals from Share Draft (checking) accounts will, if necessary, be covered by any established and connected overdraft source in which there are available funds.
  2. The Star ATM Network when used at point of purchase also has allowable one day limits of four hundred ($400.00) dollars when you use the Norteller ATM access card and five hundred ($500.00) dollars when you use the Visa ATM/check card. NOTE: Funds to pay for items or services at point of purchase (POP) locations will only be deducted from your Share Draft (checking) account and will, if necessary, be covered by any established and connected overdraft source in which there are available funds.
  3. Any deposit(s) of non-cash items are subject to holds. See DEPOSIT OF FUNDS/CHECK HOLDS.
  4. You are entitled to receive a receipt of any transaction that you perform at any Norteller, non-NorteIler ATM or point of purchase location.
  5. The Credit Union may revoke or cancel your ATM privileges at anytime and without notification to you. See ACCOUNT CLOSURE OR TERMINATION OF PRIVILEGES.
  6. If your Credit Union NorteIler ATM or Visa ATM/check card is stolen or is lost, you should report such loss to the Credit Union immediately to prevent or minimize the risk of unauthorized charges or withdrawals. You may call the main Credit Union numbers 24 hours a day to report the loss of any access device. You may call Fiserv 24 hours a day at 800-554-8969 to report a lost or stolen Visa ATM/check card only. See PERSONAL IDENTIFICATION NUMBERS (PINs). Notes (a) and (b) for card safety and "Prompt reporting by you of unauthorized transfers could limit or reduce your liabilities." NOTE: A fee may be charged for the replacement of any access device that was either lost or stolen as set forth in the Schedule of Fees.Top

VISA ATM/CHECK CARD The Visa ATM/check card along with providing access to your accounts at various automated teller machines (ATMs) and point of purchase (POP) locations as previously described in the last three (3) sections, will also replace the need for writing share drafts (checks) to access up to twenty-five hundred ($2,500.00) dollars in one day from funds that are already on deposit in your Share Draft (checking) account or are available in any established and connected overdraft source when purchasing goods, paying for services, or obtaining cash advance in person from participating merchants and financial institutions.Top

CURRENCY CONVERSION When you use your Visa-branded debit card at a merchant that settles in currency other than US dollars, the charge will be converted into the US dollar amount. The currency conversion rate used to determine the transaction amount in US Dollars is either (a) a rate selected by Visa from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate Visa itself receives; or (b) the government-mandated rate in effect for the applicable central processing date; and (c) in each instance, plus or minus any adjustment determined by the issuer. The conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or posting date. NOTE: (a) When a withdrawal (charge) is made, using the Visa ATM/check card, funds on deposit in your Share Draft (checking) account, and for the amount of that withdrawal (charge) will become "frozen," and will be transferred to pay for that withdrawal (charge) when it is presented. This transfer will usually take place within three (3) days of the actual transaction.Top

CALL-24, YOUR ELECTRONIC TELEPHONE ACCOUNT ACCESS You may access any of your accounts with a touch-tone telephone through Call 24, the Credit Union’s audio response system. You select your own personal identification (PIN) number when you sign up for this service. See PERSONAL IDENTIFICATION NUMBERS (PINs). Call 24 will usually be available 24 hours a day, seven days a week.

  1. Through Call 24, you have the ability (a) to make inquiries regarding account and loan balances, share drafts (checks) that have paid, credit available on any Credit Union open lines of credit, loan payoffs, dividend information, pre-authorized deposits, (b) to perform transfers from one account to another or accounts to loans (payments) (See TRANSFER LIMITATIONS), (c) to request a loan advance on your MoneyMaster Line of Credit to transfer directly into your account or to have a check mailed to your address of record, (d) to request a withdrawal from your Regular Share (savings) account and have a check for the amount of the withdrawal mailed to your address of record. NOTE: Any request for a check to be mailed will be fulfilled during the next business day.
  2. The Credit Union may revoke or cancel your Call 24 privileges at anytime and without notification to you. See ACCOUNT CLOSURE OR TERMINATION OF PRIVILEGES.
  3. There are no monthly transaction fees for utilizing this service.Top

the_Max! eBRANCH You can access any of your Credit Union accounts securely via the Internet through the_Max! eBranch. You select your own personal identification number (PIN) when you sign up for this service. See PERSONAL IDENTIFICATION NUMBERS (PINs). The same PIN is used to gain access to Call 24, the Credit Union’s audio response account management system. You can change your PIN through Call 24 or the_Max! eBranch. the_Max! eBranch will usually be available 24 hours a day, 7 days a week.

  1. In order to utilize this service, you must be a member of the Credit Union (See MEMBERSHIP ELIGIBILITY) and you must have access to the Internet, through an Internet Service Provider (ISP). You may be asked to identify and designate one of your Credit Union accounts as a “payment account.” The “payment account” will be used as a source for any fee associated with any “selected service” that you require, either now or in the future. NOTES: (1) Except for the voluntary bill pay option, there are no monthly transaction fees for utilizing this service. (2) You will be responsible for any charge(s) that may arise from vendors whose equipment or services you utilize in accessing your accounts through the_Max! eBranch.
  2. Through the_Max! eBranch, you have the ability to make inquiries and see (a) account and loan balances, (b) current interest rates, (c) interest that you have paid and dividends that you have earned, (d) credit available on any open lines of credit, (e) loan payoffs, and (f) a history of your account activity. You have the abiltity to transfer funds from one account to another, or accounts to loans, or to other financial institutions. You have the abiltiy to set-up recurring internal payments to your Credit Union loans. You have the ability to change your address, order share drafts (checks), view and print cleared share drafts (checks), open new certificates or sub-accounts, add joint owners, set up overdraft protection, set up Individual Retirement Account (IRA) distributions, place stop payment orders, request loans, report lost or stolen account access devices or unauthorized transfers, or alleged errors on your account(s). You have the ability to view and print a “confirmation” page which will confirm the success with which you performed any transaction. You have the ability to “export” any of your account information from the Max! eBranch to your personal financial, accounting, or spreadsheet software. You have the ability to send secured and unsecured e-mail messages as a direct communication with the Credit Union. There are numerous other functions through the_Max! eBranch that are currently available and will become available as we continue to develop this service. NOTES: (1) Financial transactions can only be performed when there are funds available to complete them. (2) Fees as set forth in the Schedule of Fees might be charged for certain functions that you perform in the_Max! eBranch.
  3. The bill pay option allows you to set up a schedule of bills to be paid directly from your Share Draft (checking) account, either on a one-time, future or recurring basis.
  4. You manage in bill payer your personal list of payees, their names, their addresses and other required account information, and the date you want a payment debited from your account and sent to each payee. If a payee is not available in the current database of previously established payee relationships, you have the ability to submit information to establish a new payee relationship through the_Max! eBranch. NOTES: (1) There are no limitations to the number of payments that you can set up. (2) You are limited to a one-time and a recurring payment to be sent to each payee on the same day. (3) You may make a payment to anyone who is approved by the Credit Union.
  5. On the payment day you specify, the Credit Union will debit your Share Draft (checking) account or, if the payment day falls on a weekend or holiday, your Share Draft (checking) account will be debited the next business day, and the funds, either by check or electronically, will be remitted to the payee. NOTES: (1) There must be sufficient funds available in your Share Draft (checking) account or in any overdraft source that is connected with it on the instructed payment date, or the Credit Union will not be obligated to remit the payment on your behalf. (2) The Credit Union will reserve the right not to make any or all of the payments which by your instruction are to be remitted on the same day, if there are not sufficient funds available to pay all of those payments. (3) The date that you authorize funds to be debited from your Share Draft (checking) account for the purpose of payment through the bill payer service should be at least six (6) business days prior to the actual due date to assure sufficient time for the payment to be received and posted to your account with the payee and to avoid the risk of "late" charge(s) assessed by the payee. (4) You agree that it is your responsibility to validate that any payment(s) made per your instruction and through the_Max! eBranch bill payer was (were) correct and conform to your instructions. (5) The Credit Union cannot be held responsible for any additional charges that you may incur from a payee either because you did not allow sufficient time for the payment to arrive and to be credited to your account with the payee as previously defined in (3) above or because any third party involved in this payment process failed to transmit the payment to the payee. See CREDIT UNION LIABILITY FOR ELECTRONIC FUNDS TRANSFER for the liability, or release of liability, of the Credit Union in regard to any electronic transfers.
  6. A fee, as set forth in the Schedule of Fees, may be charged for using the bill pay option to cover service for the previous month. This fee will be debited from your payment account on the 5th of the month no matter if bill payments were made in the previous month or not. NOTE: If there are not sufficient funds available in the payment account at the time the fee is charged, the bill pay option may be canceled by the Credit Union. Reinstatement of this option would only be allowed after you contact the Credit Union Member Service Department and deposit funds sufficient to cover any accrued bill pay fees and pending transfers and/or debits.
  7. You will have the right to stop or change any scheduled payment by using the cancel payment function within the_Max! eBranch, or by contacting the Credit Union. This cancellation would have to be made by you no later than 7 p.m., Pacific Standard Time on the day prior to the actual scheduled payment day.
  8. Any authorization(s) to transfer funds that you originate through the_Max! eBranch on a Credit Union business day (See BUSINESS DAY) would have to be completed before 7 p.m. Pacific Standard Time to be posted to or against your account on that same business day. After 7 p.m., the posting would show as having been authorized on the next Credit Union business day.
  9. You have the ability to cancel any of the online financial services that you have on the_Max! eBranch, or restrict your account completely from being accessible through the_Max! eBranch, by notifying the Credit Union either verbally or in writing. If you submit a request verbally, we would ask that it be followed up in writing within ten (10) days of the verbal request.
  10. The Credit Union may revoke or cancel your access to the_Max! eBranch at anytime and without notification to you. See ACCOUNT CLOSURE OR TERMINATION OF PRIVILEGES.Top

AUTOMATED CLEARING HOUSE (ACH) AND WIRE TRANSFERS You may receive deposits to your account electronically through ACH transfer and either receive deposits to or make transfers from your account(s) through electronic wire transfer.

  1. You agree that we are not required to notify you when funds are received in your account by way of these transfers as long as the transaction is shown on your next periodic statement.
  2. We may provisionally credit your account with Automated Clearing House (ACH) funds prior to actually receiving them. If we credit your account, and then, for some reason, do not receive those funds, we can reverse the credit entry to your account, and you then will become liable to the Credit Union for the amount of any sum(s) that were advanced to you by the Credit Union as well as possible fees as set forth in the Schedule of Fees.
  3. When you initiate any wire transfer, you supply us with information that identifies a person or financial institution by name and by account or account number. The Credit Union will rely on that information to be correct even if it belongs to another person or place. NOTES: (1) The initiation of a wire transfer will be subject to a cutoff time of 12:00 noon Pacific Standard Time on any business day. (2) A fee may be charged for the initiation of any wire transfer as set forth in the Schedule of Fees.Top

IN THE CASE OF ERRORS OR QUESTIONS IN REGARD TO ANY ELECTRONIC SERVICE TRANSACTION If you believe that an error has occurred, or if you think that your receipt or statement reflect wrong information, or if you need additional information about any electronic transaction which appears on any receipt or statement of yours, contact the Credit Union either by phone, an in-person visit, or by mail to report or request it. We may ask that any oral reporting of an alleged error be confirmed in writing within ten (10) business days of the oral report.

  1. You are required to notify the Credit Union of any alleged error within sixty (60) days of receiving any periodic account statement that may show the reason for your concern.
  2. To properly investigate any claim of an alleged error, we would need your name, account number, a statement that you believe an error exists and why, as well as the type, date, and amount of the error.
  3. We will investigate any alleged error or question that you have and advise you of our findings within ten (10) business days from the time we receive your complaint or question. (This response time for a point of sale transaction would be twenty (20) business days).
  4. If any error is confirmed, corrections, including adjustments to the balance, the re-figuring of any interest or the reversal of any late charges or fees would promptly be made, and you would be advised of the same within three (3) business days of that confirmation.
  5. If our investigation requires more time than was previously stated (in number 3) to complete, our final response time(s) could be extended to forty-five (45) or ninety (90) business days. However, after the ten (10) or twenty (20) response business days, (see number 3) we would provisionally credit your account for any amount that you think is in error, so you would have the use of those funds while we complete our investigation. NOTE: If we ask that you put any complaint or question in writing, and you do not comply within ten (10) business days, we will be under no obligation to provisionally credit your account if there is an extended investigation.
  6. If our investigation concludes that no error existed on your account, we will reverse any provisional credit that we extended, and you will become liable to the Credit Union for any funds that were advanced to you, plus possible fees as set forth in the Schedule of Fees. You will be advised of these actions within three (3) business days of the conclusion of any investigation. NOTES: (1) We will continue to honor any checks, drafts, or pre-authorized transfers that would have been normally honored, prior to the reversal of any provisional credit by us, for a for a period of five (5) business days after the notice to you. (2) You are entitled to ask for and receive a copy of any documentation that we used in the investigation of your account.Top

REGULATION GG/UNLAWFUL INTERNET GAMBLING ENFORCEMENT ACT In accordance with the requirements of the Unlawful Internet Gambling Enforcement Act of 2006 and Regulation GG, restricted transactions are prohibited from being processed through your account or relationship with our institution. Restricted transactions are transactions in which a person accepts credit, funds, instruments or other proceeds from another person in connection with unlawful Internet gambling.Top

NGFCU 238(03/14)

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