Privacy Policy

Shores Area Credit Union, your member owned financial institution, is committed to providing you with competitive products and services to meet your financial needs and help you reach your goals. We are equally committed to protecting the privacy of our members. Under federal law, we are required to give you this privacy notice. It describes our credit union’s privacy policy and practices concerning the personal information we collect and disclose about our members. It also includes information about the parties who receive personal and sometimes nonpublic information from us as we conduct the business of the credit union.

We may disclose all of the information we collect, as described as above, as permitted by law.

We may disclose nonpublic personal information about you to the following types of third parties:

In order for us to conduct the business of the credit union, we may disclose all of the information we collect, as described above, to companies that perform other services on our behalf so that we may provide members competitive products and services. We may also disclose nonpublic personal information about you under circumstances as permitted or required by law. These disclosures typically include information to process transactions on your behalf, conduct the operations on our credit union, follow your instructions as you authorize, or protect the security of our financial records.

To protect our members’ privacy, we only work with companies that agree to maintain strong confidentiality protections and limit the use of information we provide. We do not permit these companies to sell the information we provide to other third parties.

If you terminate your membership with Shores Area Credit Union, we will not share information we have collected about you, except as may be permitted or required by law.

We restrict access to nonpublic personal information about you to those employees who need to know that information to provide products or services to you. We maintain physical, electronic, or procedural safeguards that comply with federal regulations to guard your nonpublic personal information.

Shores Area Credit Union is committed to protecting the privacy of its members. Members can help by following these simple guidelines:

Shores Area Credit Union
25175 Chippendale
Roseville, MI 48066
Phone: (810) 771-4260
Fax: (810) 771-6880

1. If there is more than one owner on any account, all agree with each other and with the Credit Union that all sums paid in or hereafter deposited to all accounts by any one or all account owners including all dividends thereon, if any, are and shall be owned by all account owners jointly and equally, regardless of net contributions, with a right of survivorship, and shall be subject to withdrawal or receipt by any of the account owners or the survivor(s) of any of the account owners.

You agree that any such payment shall be valid and shall discharge the Credit Union from any liability. The Credit Union is not obligated to inquire as to the source of funds received for deposit to a joint account or to inquire as to the proposed use of any sums withdrawn from the account for the purpose of establishing net contributions. You must be a member in good standing to maintain any account.

2. The right of survivorship arising from the express terms of a joint account agreement with the Credit Union cannot be changed by a will.

3. If you have made a Pay On Death (POD) designation, you understand that, upon the death of both the primary and all joint owner(s) of the account, all sums shall be payable to your designated POD Payee. If there is more than one POD Payee named, the sums shall be paid to each in equal shares to those POD Payees surviving the deaths of all account owners.

4. If you have a custodial account, t he transferor / custodian is opening the account as custodian for the minor named on the signature card or share certificate under the Uniform Transfers to Minors Act. The transfer of money to the minor named on the signature card or share certificate, which transfer shall be deemed to include all dividends and any future additions thereto, is irrevocable and is made in accordance with and to include all provisions of the said statute of the State of Michigan now in effect or hereinafter amended.

You acknowledge that by signing the signature card or share certificate, you have received the funds deposited to the account as custodian for the minor named herein under the Uniform Transfers to Minors Act.

The successor custodian named in the signature card or share certificate shall serve if you should be unable to act as custodian because you resign, die, or become legally incapacitated.

If the account is blocked, you understand that you shall file with the court a written receipt including the agreement with the Credit Union that the money in the account, including any earnings thereon, shall not be withdrawn except upon court order.

5. If you have a sole proprietorship account, you affirm that you are the sole proprietor of the sole proprietorship named on the signature card or share certificate. We may accept and/or endorse checks made payable to you or the sole proprietorship named on the signature card or share certificate, which we receive, for deposit. Funds received are subject to the Credit Union's policy on Delayed Availability of Deposited Funds.

6. If you have a corporate, partnership, limited liability company or unincorporated association account, the persons named on the signature card or share certificate duly authorized to make certification, certify that at a regularly held meeting the person(s) named were elected or appointed officers/managers (LLC) of said corporation, LLC or organization or are duly acting partners of said partnership, and that by virtue of the authority vested in you by the constitution, bylaws or otherwise, any one (1) of the signatures, as named on the signature card or share certificate, is authorized and empowered to transact business of any character whatsoever in connection with the account. You certify that the signature(s) appearing on the signature card or share certificate are the genuine signature(s) of said authorized person(s), and that your authority shall continue in force until written notice to the contrary is received by us.

7. No transfer of voting rights or other membership privileges is permitted by virtue of a transfer of shares.

8. You acknowledge and agree that, except as otherwise provided by law, the Statutory Lien provision of the Federal Credit Union Act, State Charter Credit Union Act, grants the Credit Union the right of "Statutory Lien." The Statutory Lien granted by section 107(11) of the Federal Credit Union Act 12 U.S. C. 1757(11) establishes the right in, or claim to, any and all of your shares and dividends equal to the amount of your outstanding financial obligations to the Credit Union, as that amount varies from time to time. This gives the Credit Union the right to impress and enforce a lien. The Credit Union can, without notice, debit funds in any of your share accounts and apply those funds to any outstanding obligation of yours, or any one of the joint account owners. This obligation is not limited to an outstanding loan but to all obligations of yours to the Credit Union.

9. You understand and agree that any or all of the account owners may pledge any or all of the shares on deposit in this account as collateral for any loan(s), subject to current Credit Union policy.

10. This account is NOT TRANSFERABLE, except on the records of this Credit Union.

11. The Credit Union is not responsible for items lost while not in its possession. We are not responsible for transactions by mail or outside depository until we actually post them.

12. The Credit Union may pay out funds or transact business pertaining to this account upon the request of any of the parties whose signature appears on the Membership Application currently on file with the Credit Union. Any payment made in good faith reliance on the terms and conditions pertaining to the type of ownership selected by you shall be valid and shall discharge the Credit Union from liability.

13. We may endorse and/or collect items deposited to your account without your endorsement(s), but may require your personal endorsement prior to accepting an item for deposit. If you deposit an item, which bears the endorsement(s) of person(s) who are not known to us, we may refuse the item, require all endorsers to be present, or require that the endorsement(s) be guaranteed by another financial institution acceptable to us before we accept the item.

14. Periodic Statements shall be provided by the Credit Union to the primary owner (if there is two primary owners [husband and wife or significant others] the one listed as number one on the signature card will receive the statement) of the account.

15. You or the Credit Union may terminate your account(s) at any time; however, your authority to us may not be terminated by you except by written notice to us. Such termination shall not affect transactions completed prior to receipt of said notice. If there is more than one owner of the account, the Credit Union may, at its sole option, require the signatures of all owners of the Account(s) to terminate the account.

16. Ownership of the account will be established by the most recent Membership Application (signature card) or other approved document(s) evidencing such accounts that we have on file for you. A different form of ownership may be established by executing a new Membership Application. If ownership or the right to make withdrawals from your account becomes in dispute for any reason, we may, in our discretion, refuse payment of the balance in the account until the dispute is settled.

17. You agree that we will not be responsible to you for any damages you may incur in the event you deposit an item with us which is later returned unpaid by the paying bank and that return is “late” due to markings on the back of the check caused by a prior endorser.

18. If we are served with a restraining order, garnishment, writ of execution or attachment, tax levy or other legal process with which we must by law comply, we will, to the extent permitted by law, notify you accordingly.

19. Except as governed by Federal Law, Michigan law governs this Disclosure and Agreements Disclosure

20. It is Credit Union policy that so long as you have an outstanding loan balance(s) you may not close your primary account.

21. Our bylaws, which we may amend from time to time, establish basic rules about our Credit Union policies and operations, which affect your account and membership. You may obtain a copy of the bylaws on request

22.You must establish and maintain at least one share (per primary owners) any Credit Union account type (except the Holiday account) as a condition of membership

23. Additional Provisions:

a) The primary owner of any account must be a member of this Credit Union.

b) You agree to pay reasonable attorney’s fees (even if litigation has not commenced) and court costs in the event that we must take legal action to enforce any of the terms and conditions of this Disclosure.

24. To join the Credit Union, complete a Membership Application and submit it to Shores Area Credit Union, along with an initial deposit of at least $5 and a new member must pay a one-time, non-refundable $5 membership fee.

25. You also agree to allow SACU to make any inquiries that SACU considers appropriate to evaluate accounts. This may include ordering a credit report.

26. Dividends on all dividend-bearing accounts may begin to accrue date of first deposit.

27. Shares may be transferred from one member to another by written instrument in such form as the Credit Union may prescribe.

28. The Credit Union reserves the right to require a member intending to make a withdrawal from any account (except a share draft account) to give written notice of such intent not less than 7 days and up to 60 days before such withdrawal.

29. The Credit Union reserves the right to require two business days prior notice to cash withdrawals over $1,000.00. This time period may be needed to ensure availability of cash to all members.

30. No member may withdraw shareholdings that are pledged as required on security on loans without the written approval of authorized Credit Union personnel, except to the extent that such shares exceed the member’s total primary and contingent liability to the Credit Union. No member may withdraw any shareholdings below the amount of his/her primary or contingent liability to the Credit Union if he/she is delinquent as a borrower, or if borrowers for whom he/she is co-maker, endorser, or guarantor are delinquent, without the written authorization of the Credit Union.

31. Dividends will begin to accrue no later than the business day we receive provisional credit for deposit of non-cash items (e.g., checks) to your account.

32. Dividends are paid from current income and available earnings, after required transfers to reserves, at the end of the dividend period.

33. In most cases the Credit Union is required to report any dividend payments totaling $10 or more during the year to the Internal Revenue Service and to you. If you do not provide the Credit Union with a correct taxpayer identification number or a certificate of foreign status, the IRS requires the Credit Union to withhold 28% of the dividends credited to your account and send those funds to the IRS. This percentage is dictated by the IRS and is subject to change by them.

In addition to the General Terms and Conditions, the following terms and conditions apply to all Checking Account Packages:

The Credit Union offers several different Checking Account packages. The unique terms, conditions, requirements, initial dividend rates and annual percentage yields applicable to each are set, and the SACU Checking Account Package Disclosure. Checking account dividend rates and annual percentage yields may change every month based on the determination of the Credit Union Board of Directors. Current rates may be obtained by phoning SACU or by visiting our website at www.sacu.net.

When dividends are paid by the average daily balance paid and compounded quarterly. Dividends are paid on the first day of the new quarter. If you close your account before dividends are credited, you will not receive accrued dividends.

Minimum daily balance requirements to avoid a monthly service fee are noted in the SACU Checking Account Packages Disclosure, which will accompany this Disclosure in the event that you opened a checking account. If at any time during the month your account balance falls below this minimum, you will be charged the monthly service fee.

1. If you have a checking account with us, you authorize the Credit Union to recognize any of the signatures subscribed on your Membership Application in the payment of funds or the transaction of any business for the account.

2. You authorize us to obtain credit reports, as we deem necessary, in connection with transactions performed in your account. You also authorize us to furnish information concerning your accounts with us to credit reporting agencies.

3. You authorize us to pay checks signed by you. The payment(s) will be charged against your account.

4. We may, without liability, accept, pay, guarantee and charge checks to the account in any order convenient to us. Your death, incompetence or organizational dissolution shall not revoke our authority to accept, pay or collect a check, or to account for proceeds of its collection, until we know of the fact of your death or adjudication of incompetence, and have reasonable opportunity to act on it. Even with knowledge, we may for ten (10) days after the date of death or incapacity or organizational dissolution pay or guarantee checks drawn on or prior to that date, unless ordered in writing to stop payment by a person claiming an interest in the account under rules established by us. We are under no obligation to accept such stop payment order. Joint holders of the account agree to notify the Credit Union of the death or incapacity of any individual on this account, or the dissolution of any organization that is an account holder.

5. We may at our discretion, but are not obligated to, pay funds from this account:

a) When such payment would draw the account below the minimum balance as established by the Credit Union;

b) If drawn by means not previously recognized by us;

6. Except for negligence, we are not liable for any action we take regarding the payment or nonpayment of a check. In the event of wrongful dishonor, which occurs by mistake or good faith error, liability shall be limited to actual damages.

7. If the Credit Union has paid a check, which should have been dishonored, then the Credit Union may exercise all of its rights and remedies against any person, including you, which are necessary to recover any loss we have suffered.

8. The Credit Union shall not be liable for honoring or failing to honor a postdated or conditionally endorsed check. We are under no obligation to hold a postdated check. We reserve the right to process every item presented as if dated the same date received by us, unless you give us notice as required under the Uniform Commercial Code (UCC).

9. You may order a stop payment on any check written against your account, provided such request is timely and affords us a reasonable opportunity to act upon it. We may accept this order orally, but if it is not confirmed in writing or done on Net-Branch Online, it is valid for fourteen (14) days only. Stop payment orders are valid for six (6) months. You have the responsibility of establishing the fact and amount of loss resulting from any payment made contrary to a stop payment order. A release of the stop payment request must be made in writing and signed by the person who initiated the stop payment order.

10. The primary owner will receive a statement of account describing all the activity on your checking account for the period covered by that statement. Upon receipt, you must exercise all due care and promptness in examining all statements and shall notify the Credit Union promptly, in writing, of any error. Any objection regarding any item shown on a statement is waived, unless made in writing to the Credit Union by the 60th day after the statement was generated, except where the UCC provides otherwise. Further, without regard to lack of care by you or us, if you fail to report any unauthorized signatures or alterations with respect to any item within one year of when the statement became available to you, you cannot assert a claim against us for the unauthorized signature or alteration.

11. You shall pay us, according to the schedule established by the Credit Union from time to time, all costs and charges incident to the checking account. We shall debit such charges against your checking account, except where there are insufficient funds available. In such cases those charges will be treated as overdrafts.

12. All non-cash payments shall be credited to your account in accordance with the terms of the Check Hold Policy.

13. Checks remain the property of the Credit Union upon payment and are not returned to the account owner(s). Copies of the returned checks may be available upon request.

14. Only methods approved by the Credit Union may be used to withdraw funds from checking accounts.

15. If you write a check against unavailable funds, the Credit Union may return it unpaid and you may be charged a non-sufficient funds (NSF) charge as shown in the SACU Disclosure Fee Schedule accompanying this Disclosure. If you do not have an overdraft protection plan or enough coverage in your overdraft protection plan to cover a check or pre-authorized payment, at our discretion, we will either return the item unpaid or pay it by overdrawing your account (courtesy pay). In either case, a fee will apply. The fees for this service are disclosed in the SACU Fee Schedule. Whether we return or pay the item depends on a number of factors including the amount of the item and the past activity in your account. If we courtesy pay your account, you agree to repay us by making an immediate deposit that brings your account to a positive balance. If we pay an item by courtesy pay on one or more occasions, we are not obligated to continue paying any future NFS items. If you elect to opt out of courtesy pay, you need to contact the Credit Union, either by phone, mail, or visiting one of our branches.

16. If more than one person signs the Membership Application, you all agree between yourselves and the Credit Union that each of you appoints the other as agent and attorney in fact to overdraft any of your savings or loan accounts.

17. You or we may terminate this account at any time with written notice. In addition, the Credit Union may terminate this account at any time, with good cause without written notice. Good cause includes, but is not limited to, fraud, account manipulation including kiting and repeated patterns of transactions which have no apparent business reason other than to take advantage of float to our detriment, excessive overdrafts not covered by available funds in savings or in your line of credit, violations of agreements with this Credit Union or other abuses of this account. Any checks outstanding at the time of termination will not be paid by the Credit Union.

18. The Credit Union is not responsible for items lost while not in our possession.

19. We are not required to honor any restrictive legend on you. Examples of restrictive legends are “must be presented within 90 days” or “not valid for more than $1,000.”

20.This Agreement shall be construed in accordance with the applicable provisions of the UCC, and the term Credit Union, for the purpose of this Agreement, shall be deemed to be included in the definition of a bank as found therein.

Current rates may be obtained by phoning SACU or by visiting our website at www.sacu.net.
The Annual Percentage Yield (APY) assumes dividends will remain on deposit until maturity. A withdrawal will reduce your earnings.

Dividends are calculated by the average daily balance method, which applies a daily periodic rate to the balance in the account each day. Dividends are paid quarterly.

Dividends may be withdrawn at any time. The disclosed annual percentage yield assumes that dividends remain in the account until maturity and withdrawal of dividends will reduce the annual percentage yield.

You must maintain the minimum deposit required throughout the term of the Certificate to avoid Certificate termination and the early withdrawal penalties stated below. Your Certificate will mature on the date shown on your receipt.

No additional deposits are permitted to a Share Certificate once it is opened, unless otherwise disclosed, as in the Step-Up Share Certificate when offered.

You will receive a maturity notice approximately fifteen (15) prior to the maturity of your Certificate. Your Certificate will automatically renew at maturity for the rate in effect at the time of renewal. The renewed certificate will go into our six (6) months term, unless you prevent renewal by withdrawing funds in your account at maturity or renew the Certificate for a different term. At maturity, all dividends become part of the principal balance, and after the grace period are subject to penalties. The grace period in which there is no penalty to renew for different terms or withdraw without penalty is seven (7) calendar days past the maturity date. Current rates may be obtained by phoning SACU or by visiting us at www.sacu.net.

You may make withdrawals of principal from your certificate before maturity. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty.

Any reduction of the principal amount below the minimum principal tier for the rate established at Certificate origination will terminate the Certificate.

We may impose the following penalties for early withdrawal and/or termination of a Certificate:

a) The penalty for Certificates of initial term less than one year will be equal to ninety (90) days of dividends.

b) The penalty for Certificates of one year or greater will be equal to ninety (90) days of dividends.

The penalty may be deducted from either dividends or principal.

No penalties will apply for:

1) Withdrawals made subsequent to the death of any owner of the account made pursuant to Article III, Section 5(e) of the Federal Credit Union Act; 2) Accounts which are part of a pension plan that qualifies, or qualified for specific tax treatment under Section 401(d) or 408 of the Internal Revenue Code, and withdrawal is made to effect a lawful distribution of the funds; or

3) Withdrawals made as a result of a voluntary or involuntary liquidation of this Credit Union.

There are no service charges on a Share Certificate.

Other fees that may apply to this account are detailed in the most recent SACU Disclosure Fee Schedule.

Under certain conditions, your Credit Union membership account(s) may become the property of the State of Michigan. These conditions are:

a) Owner’s (Member’s) address is in Michigan, or

b) No Owner (Member) address is shown on the Credit Union’s records and the Credit Union’s place of business is in Michigan, or

c) Owner’s (Member’s) address is in another state and Credit Union’s principal place of business is in Michigan, and the state in which the member resides does not escheat that item, or

d) Owner’s (Member’s) address is in a foreign country but the Credit Union’s principal office is in Michigan.

Credit Union shares and accumulated dividends earned thereon will escheat (become the property) of the State of Michigan if any of the above conditions are met and if the Member (Shareholder of record) for more than five (5) years:

a) Has not claimed a cash dividend, paid in or withdrawn funds, or increased or decreased the amount in the account, and

b) Has not corresponded electronically or in writing with the Credit Union, indicating an interest in the shares, and

c) Has not otherwise indicated an interest which is evidenced by a memorandum or other record on file with the Credit Union (example: a pledge of shares as security for a loan), and

d) Has no other active relationship with the Credit Union.

This disclosure contains the rules which govern, where appropriate, your share account with us, unless it would be inconsistent to do so, words and phrases used in this disclosure should be construed so that the singular includes the plural and the plural includes the singular. Elsewhere in this brochure, you will find a schedule of the applicable interest rates, methods, qualifying balance and charges. Please read this brochure carefully; continued use of your share account with us after receipt of this brochure means you agree to these rules, you agree to pay the fees listed, and you give us the right to collect the fees, as earned, directly from the account balance, if you have any questions, please call us.

Much of our relationship with our members is regulated by state and federal law, especially the law relating to negotiable instruments, the law regulating the methods of transferring property upon death and the rights of surviving spouses and dependents, the law pertaining to estate and other succession taxes, the law regarding electronic funds transfer, and the law regarding the availability and deposited funds. This body of law is too large and complex to be reproduced here.

The purpose of this brochure is to:
(1) Summarize the rules applicable to the more common transactions;
(2) Establish rules to govern transactions of circumstances which the law does not regulate; and
(3) Establish rules of certain events or transaction which the law already regulates but permits variation by agreements. We may permit some variations from this standard agreement, by any such variations must be agreed to in writing either on our signature card for the account or in some other written form as used in this brochure, the word "we" means the financial institution and the word "you" mean the account holder.

MEMBERSHIP ELIGIBILITY - To join the Credit Union you must meet the membership requirements including purchase and maintenance of the minimum required share(s) ("membership share") as set forth in the Credit Union's Bylaws. You authorize us to check your account, credit, and employment history, and obtain reports from third parties, including credit reporting agencies, to verify your eligibility for the accounts and services you request.

Account Owner(s) Liability - each of you agrees, for yourself (and the person or entity you represent if you sign as a representative of another) to the terms of this account and the schedule of charges that may be imposed. You authorize us to deduct these charges as accrued directly form the account balance. You also agree to pay additional reasonable charges we may impose for services you request which are not contemplated by this agreement. Each of you also agrees to be jointly and severally liable for any account deficit resulting from charges or overdrafts, whether caused by you or another authorized to withdraw from this account and the cost we incur to collect the deficit including, to the extent permitted by law, or reasonable attorneys' fees.

CREDIT UNION LIABILITY— if we do not properly complete a transaction according to this Agreement, we will be liable for your losses or damages not to exceed the amount of the transaction, except as otherwise provided by law. We will not be liable if: (1) your account contains insufficient funds for the transaction; (2) circumstances beyond our control prevent the transaction; (3) your loss is caused by you’re or another financial institution's negligence; or (4) your account funds are subject to legal processor other claim. We will not be liable for consequential damages, except liability for wrongful dishonor. We exercise ordinary care if our actions or non-actions are consistent with applicable state law, Federal Reserve regulations and operating letters, clearinghouse rules, and general banking practices followed in the area we serve. You grant us the right, in making payments of deposited funds, to rely exclusively on the form of the account and the terms of this Account Agreement. Any conflict between what you or our employees may say or write will be resolved by reference to this Agreement.

Deposits - any items, other than cash, accepted for deposit (including items drawn "on us") will be given provisional credit only if collection item is final (and actual credit for deposits of, or payable in, foreign checks will be at the exchange rate in effect on final collection in U..S dollars we do not except foreign currency). We are not responsible for transaction initiated by mail or outside depository until we actually record them. All transaction received after our "daily cut- off time" on a business day we are open, or received on a day in which we are not open for business, will be treated and recorded as if initiated on the next following business day that we are open.

Withdrawals - unless otherwise clearly indicated to the contrary, any one of you who signs in the space designated for signatures on the signature card, including joint owner signers', may withdraw or transfer all or any part of the account balance at any time on forms approved by us. Each of you (until we receive written notice to the contrary) authorizes each person signing this form to endorse any item payable to you or your order for deposit to this account or any other transaction with us. The fact that we may honor withdrawal request which overdraw the final collected account balance does not obligate us to do so, unless required by law. Withdraws will first be made from collected funds, and we may, unless prohibited by law or our written policy, refuse any withdraws request against uncollected funds, even if our general practice is to the contrary. We reserve the right to refuse any withdrawal or transfer request which is attempted by any method not specifically permitted, which is for an amount less than any minimum withdrawal requirement, or which exceeds any frequency limitation. Even if we honor a nonconforming request, repeated abuse of the stated limitations (if any) may eventually force us to close this account. We will use the date a transaction is completed by us (as opposed to the day you initiate it) to apply the frequency limitation. On interest share accounts other than time deposit accounts, we reserve the right to require at least thirty days' written notice before any withdrawal or transfer. Withdrawals from a time deposit prior to maturity or prior to the expiration of any notice period may be restricted and may be subject to penalty. See your notice of penalties for early withdrawal.

Ownership of Account and Beneficiary Designation - credit union are membership organizations. An individual must apply for and be approved for membership in the credit union before she or he may receive the services of the credit union. The member must purchase at least one share ($5.00) and pay $5.00 membership fee as regulated by the bylaws, to open an account.

Ownership – credit union does not determine who has a legal right to the money deposited in the account. When there is a dispute of said funds the CU may freeze money until we have a court order or signed agreement between all parties.

Duel Ownership – Husband and wife have one share each in one account number. One share equals $5 account must have a total share pledge of $10 both will have membership privileges and voting rights.

Joint Ownership is Not Membership - it does not entitle the individual to the membership privileges of borrowing, serving on the credit union board or committees, or voting at the annual meeting. The account belongs to the member and terminates if the member dies. The member must sign and date the joint account agreement for it to be valid. The signature of the joint owner(s) must also be on the card. There must be no changes or alterations to the card. This document is your signature verification source for withdrawals (and other transactions) and must be accurate and complete. A nonmember joint owner has full access to the funds as described on the account card unless there are specific restrictions on the account. Any owner is authorized and deemed to act for any other owner(s) and may instruct us regarding transactions and other account matters. Each owner guarantees the signature of any other owner(s). Any owner may withdraw all funds, stop payment on items, transfer, or pledge to its all or any part of the shares without the consent of the other owner(s). We have no duty to notify any owner(s) about any transaction. We reserve the right to require written consent of all owners for any change to or termination of an account. If we receive written notice of a dispute between owners or inconsistent instructions from them, we may suspend or terminate the account and require a court order or written consent from all owners to act.
If a deposited item in a joint account is returned unpaid, an account is overdrawn, or if we do not receive final payment on a transaction, the owners, jointly and severally, are liable to us for the amount of the returned item, overdraft, or unpaid amount and any charges, regardless of who initiated or benefited from the transaction. If any account owner is indebted to us, we may enforce our rights against any account of an owner or all funds in the joint account regardless of who contributed them.

Changing Owners - the best way to delete or change a joint owner is to close the old account and open a new one, with a new account number, with the new owners completing a new account card. Or it is permissible to have the joint owner sign a release from claim by using an assignment of interest in joint share and/or deposit account card Mich. 513.

Beneficiaries - to change the beneficiary(ies) on a trust for beneficiary account, the trustee gives the credit union a clearly written, signed order describing the change.

To Stop Withdrawals - to stop or limit withdrawals, an owner or trustee must notify the credit union in writing that no further withdrawals are permitted. This freezes the account to all parties. The freeze is lifted when the signatures of all parties on the account are received as authorization to remove the restriction or the credit union receives a court order to do so.
Share with Beneficiary Option Account (mich.506) - single or joint ownership accounts with rights of survivorship and the option to name a beneficiary(ies). "With rights of survivorship" means if one owner dies, the entire account balance becomes the property of the surviving owner(s). Note: if a beneficiary(ies) is named, the funds in this account become the property of the beneficiary(ies) only upon the death of the owner, or the last surviving owner if there is more than one, in addition, the credit union must divide the funds equally between all beneficiaries alive at the time of the death of the last surviving owner, if there is more than one beneficiary named.

Accounts For Minors - We may require any account established by a minor to be a joint account with an owner who has reached the age of majority under state law and who shall, to the extent permitted by state law, be jointly and severally liable to us for any returned item, overdraft, or unpaid charges or amounts on such account. We may pay funds directly to the minor without regard to his or her minority. Unless a guardian or parent is an account owner, the guardian or parent shall not have any account access rights. We have no duty to inquire about the use or purpose of any transaction. We will not change the account status when the minor reaches the age ei majority, unless authorized in writing by all account owners.

Uniform Transfers Gifts To Minors Account - A Uniform Transfers/Gifts to Minors Account UTTMAIUGMA) is an individual account created by a custodian who deposits funds as an irrevocable gift to a minor. The minor to whom the gift is made is the beneficiary of the custodial property in the account. The custodian has possession and control of the account for the exclusive right and benefit of the minor and barring a court order otherwise, is the only party entitled to make deposits, withdrawals, or close the account. We have no duty to inquire about the use or purpose of any transaction. Ii the custodian dies; we may suspend the account, until we receive instructions from any person authorized by law to withdraw funds or a court order authorizing withdrawal.

Agency Designation on an Account-An agency designation on an account is an instruction to us that the owner authorizes another person to make transactions as agent for the account owner regarding the accounts designated. An agent has no ownership interest in the account(s) or Credit Union voting rights. We have no duty to inquire about the use or purpose of any transaction made by the agent.

Certificate Accounts - Any time deposit, term share, share certificate, or certificate of deposit account allowed by state law (Certificate Account), whichever we offer, is subject to the terms of this Agreement, the Truth-in-Savings Disclosure and Account Deposit Receipt for each account, the terms of which are incorporated herein by reference.

Revocable Trust Account - account for a revocable living trust. The provision of the trust document will control the distribution of funds titled in the name of the trust.

Share/Saving Draft Account – single, duel and joint ownership share/savings draft account for members, organizations and businesses.

Corporation or Voluntary Association Membership Share Account - certain corporations, associations and clubs is found in the federal credit union act, section 109 and in the Michigan credit union act, section 5. Federal law requires that such groups be composed completely of the same common group as the credit union membership; state law requires that the club membership or business ownership be composed for the most part of the same common group as the credit union membership. The policymaking body for the organization must authorize application for membership. Gets a copy of the minutes authorizing the application. Get a copy of the corporate bylaws. The agreement must be completed and signed by the organizations authorized officer(s)

Amendments and Termination - we may change any term of this agreement. Rules governing changes in interest rates have been provided separately. For other changes we will give you reasonable notice in writing or by any other method permitted by law. We may also close this account at any time upon reasonable notice to you and tender of the account balance personally or by mail. Notice from us to any one of you is notice to all of you.

Statements - you must examine you statement of account with "reasonable promptness". If you discover (or reasonably should have discovered) any unauthorized payments or alterations, you must promptly notify us of the relevant facts. If you fail to do either of these duties, you will have to either share the loss with us, or bear the loss entirely yourself (depending on whether we exercised ordinary care and, if not, whether we substantially contributed to the loss). The loss could be not only with respect to items on the statement but other items forged or altered by the same wrongdoer. You agree that the time you have examine your statement and report to us will depend on the circumstances, but that such time will not, in any circumstance, exceed a total of 30 days from when the statement is first made available to you. You further agree that if you fail to report any unauthorized signatures, alteration forgeries or any other errors in your account within 60 days of when we make the statement available, you cannot assert a claim against us on any items in that statement, and the loss will be entirely yours. This 60 day limitation is without regard to whether we exercised ordinary care; the limitation in this paragraph is in addition to that contained in the first paragraph of this section.

Pledge/Statutory Lien —Unless prohibited by law, you pledge and , grant as security for all obligations you may have now or in the future, except obligations secured by your principal residence, all shares and dividends and all deposits and interest, if any, in all accounts you have with us now and in the future. If you pledge a specific dollar amount in your account for a loan, we will freeze the funds in your account(s) to the extent of the outstanding balance of the loan or, if greater, the amount of the pledge if the loan is a revolving loan. Otherwise, funds in your pledged account(s) may be withdrawn unless you are in default. Federal or state law, depending on whether we have a federal or state charter, gives us a lien on all shares and dividends and all deposits and interest, if any, in accounts you have with us now and in the future. Except as limited by state or federal law, the statutory lien gives us the right to apply the balance of all your accounts to any obligation on which you are in default. After you are in default, we may exercise our statutory lien rights without 'further notice to you.

Direct Deposits - if, in connection with a direct deposit plan, we deposit any amount in this account which should have been returned to the federal government for any reason, you authorized us to reduce the amount of our liability to the federal government from this account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability.

Stop-Payments - a stop-payment order must be given in the manner required by law and must be received in time to give us a reasonable opportunity to act on it before our stop-payment cut-off time. Additional limitations on our obligation to stop-payment are provided by law. A stop-payment order must precisely identify the number, date and amount of the item, and the payee. We will honor a stop-payment request by the person who signed the particular item, and, by any other person, even though such other person did not sign the item, if such other person has an equal or greater right to withdraw from this account than the person who signed the item in question. A release of the stop-payment request may be made only by the person who initiated the stop-payment. You may make an oral stop payment order which will lapse within fourteen (14) calendar days unless confirmed in writing within that time. Written stop payment orders are effective for six (6) months and may be renewed in additional six (6) month periods by requesting in writing that the stop payment order be renewed within a period which the stop payment order is effective. We are not required to notify you when a stop payment order expires. Fees for stop payment orders are set forth in the Truth-in-Savings Disclosure. You may not stop payment on any certified check, cashier's check, teller's check, or any other check, draft, or payment guaranteed by us. Although payment of an item may be stopped, you may remain liable to any item holder, including us. You agree to indemnify and hold the Credit Union harmless from all costs, including attorney's fees, damages or claims related to our refusing payment of an item, including claims of any joint account owner, payee, or endorsee in failing to stop payment of an item as a result of incorrect information provided by you.

Set-Off - you each agree that we may (without prior notice and when permitted by law) set off the funds in this account against any due and payable debt owed to us now or in the future, by any of you having the right of withdrawal, to the extent of such persons; or legal entity's right to withdraw. The amount of the set-off may be further limited by applicable law. If the debt arises from a note, "any due and payable debt" includes the total amount of which we are entitled to demand payment under the terms of the note at the time we set off, including any balance the due date for which we properly accelerate under the note, this right of set-off does not apply to this account if; (a) it is an individual retirement account or (b) the debt is created by a consumer credit transaction under a credit card plan, or (c) the debtor's right of withdrawal arises only in a representative capacity. We will not be liable for the dishonor of any check when the dishonor occurs because we set off a debit against this account. You agree to hold us harmless from any claim arising as a result of our exercise of our right of set-off.

Postdated And Stale dated Drafts - You agree not to issue any check or draft that is postdated. If you do issue a check or draft that is payable on a future date and we pay it before that dale, you agree that we shall have no liability to you for payment. You agree not to deposit checks, drafts or other items before they are properly payable. We are not obligated to pay any check or draft drawn on your account that is presented more than six (6) months past its date.

Restrictive Legends. Some checks and drafts contain restrictive legends or similar limitations on the front of the item. Examples of restrictive legends include "two signatures required", "void after 60 days" or "not valid over $500" We are not liable for payment of any check or draft contrary to a restrictive legend or other limitation contained in or on the item unless we have specifically agreed in writing to the restrictions or limitations.

Final Payment. All items or Automated Clearing House (ACH) transfers credited to your account are provisional until we receive final payment. If final payment is not received, we may charge your account for the amount of such items or ACH transfers and impose a return item charge on your account. Any collection fees we incur may be charged to your account. We reserve the right to refuse or return any item or funds transfer. If money is owed to the credit union and we have to use legal means for collecting those funds due. You will be responsible for any legal cost such as court cost and/or attorney fee and/or process server and/or research time fee…

Ach & Wire Transfers - Except as amended by this Agreement, electronic funds transfers we permit that are subject to Article 4A of the Uniform Commercial Code will be subject to such provisions of the Uniform Commercial Code as enacted by the state where the main office of the Credit Union is located. We may execute certain requests for electronic funds transfers by Fed-wire. Fed-wire transactions are subject to Federal Reserve Board Regulation. You may order electronic funds transfers to or from your account. We will debit your account teethe amount of an electronic funds transfer and will charge your account for any fees related to the transfer. Unless we agree otherwise in writing, we reserve the right to refuse to execute any order to transfer funds to or from your account. We are not obligated to execute any order to transfer funds out of your account if the amount of the requested transfer plus applicable fees exceeds the available funds in your account. We are not liable for errors, delays, interruptions or transmission failures caused by third parties or circumstances beyond our control including mechanical, electronic or equipment failure. We will not provide you with next day notice of ACH, wire transfers and other electronic payments credited to your account. You will receive notice of such credits on your account statements. You may contact us to determine whether a payment has been received. If we are required by law to pay you interest, we will pay you interest based on the lowest nominal dividend or interest rate we paid on any account during the period for which we owe you interest Payment orders we accept will be executed within a reasonable time of receipt. A payment order may not necessarily be executed on the date it is received. Cut-off times may apply to the receipt, execution and processing of funds transfers, payment orders, cancellations, and amendments and if received after a cut-off time, may be treated as having been received on the next following funds transfer business day. Information about any cut-off limes is available upon request. When you initiate a wire transfer, you may identify the recipient and any financial institution by name and by account or identifying number. The Credit Union and any other financial institutions facilitating the transfer may rely strictly on the account or identifying number even if the number identifies a different person or financial institution. Any account owner may amend or cancel a payment order even if that person did not initiate the order. We may refuse requests to amend or cancel a payment order that we believe will expose the Credit Union to liability or loss. Any request to amend or cancel a payment order that we accept will be processed within a reasonable time after it is received. You agree to hold us harmless from and indemnify us torah losses and expenses resulting from any actual or attempted amendment or cancellation of a payment order. We may require you to follow a security procedure to execute a payment order or certain electronic funds transfer transactions. We will notify you of any such security procedures and you agree that our security procedures are commercially reasonable.
Legal Collections of items. We act only as your agent and we are not responsible for handling items for deposit or collection beyond the exercise of ordinary care. We are not liable for the negligence of any correspondent or for loss in transit, and each correspondent will only be liable for its own negligence. We may send any item for collection. Items drawn on an institution located outside the United States are handled on a collection basis only. You waive any notice of nonpayment, dishonor, or protest regarding items we purchase or receive for credit or collection to your account. We reserve the right to pursue collection of previously dishonored items at anytime, including giving a pay or bank extra time beyond any midnight deadline limits.

Legal Process — if any legal action is brought against your account(s), we may pay out funds according to the terms of the action or refuse any payout until the dispute is resolved. Any expenses or attorney fees we incur responding to legal process may be charged against your account without notice, unless prohibited by law. Any legal process against your account is subject to our lien and security interest.
Terms and Conditions of Share (Saving) Account - (a) All sums paid to the credit union on shares (less setoff allowed by law and/or provided for by contract) shall be paid on proper withdrawal demand. In the case of single name account, such demand must be made by the owner or his/her representative. In the case of a multiple name account, such demand must be made by one or more of the owners of the account and in accordance with the initialed agreement regarding signatures or in the absence of such initials, by any one owner. If all owners are deceased and there is a beneficiary(ies) listed in this agreement withdrawals may be made by the beneficiary(ies) according to the beneficiary provisions.
(b) Only methods approved by the credit union may be used to make withdrawals from this account.
(c) All Non-cash payments received in this account will be credited subject to final payment.
(d) Any Objection respecting any item shown on a periodic statement of this account is waived unless made in writing to the credit union before the end of 60 days after the statement is mailed.
(e) This account is subject to the credit union’s right to require advance notice of withdrawal, as provided in the credit union by laws.
(f) This account is also subject to such other terms and conditions as the credit union may establish from time to time. The credit union may change the terms and conditions of this account upon giving a 30-day advance written notice. Notice may be given by U. S. Mail, first class postage prepaid, to my/our last known address, as reflected in the credit union records.

Rate Information: The dividend rate and annual percentage yield may change at any time, as determined by the credit union board of directors. This account is tiered which means it pays different dividend rates corresponding to applicable account tiers, on the applicable balance in each tier of the account. The applicable tiers, dividend rate and annual percentage yield for each tier will be as listed in the credit union's current Rate Schedule.

Compounding and Crediting: Dividends will be compounded monthly and will be credited to your account monthly.

Dividend Period: for this account type, the dividend period is monthly, for example the beginning date of the first dividend period of the calendar year is January 1 through January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending of a dividend period, and for the example above is February 1.

Effect of closing an account - If you close your account before interest is paid; you will not receive the accrued interest.

Type	Standard	Gold	Platinum	Jumbo
Minimum Balance Requirement: to open	$2,500	$25,000	$50,000	$100,000

It is member’s responsibility to move money around from the different type of money market accounts. Credit union will not move funds automatically if account falls below minimum requirements

You are required to maintain a minimum daily balance of in your account each day to obtain the disclosed annual percentage yield.

Standard account if deposit falls below minimum earns 0.00% for each day below minimum. Gold account if deposit falls below minimum earns regular share rate for each day below. Platinum account if deposit falls below minimum earns regular share rate for each day below. Jumbo account if deposit falls below minimum earns regular share rate for each day below.

You must maintain minimum daily balance requirements in your account to avoid a fee. If during any month, your account balance falls below the required minimum daily balance your account will be subject to a $6.00 service fee.

Accrual of Dividends on Non-cash Deposits: Dividends will begin to accrue on the business day you deposit non-cash (e.g. checks) to your account.

Transaction limitations - During any statement period, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized or automatic transfer or telephonic order or instruction. No more than three of the six transfers may be made by check, draft, debit card (if applicable), or similar order to a third party. If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the credit union
Fees: Please see the Rate and Fee Schedule for current fees that may apply to this account.
Money Market Accounts offer you the advantage of easy access, liquid funds with higher yields than our standard Savings accounts. Elevations Credit Union

Money Market Accounts are insured investments. You can make up to 6 electronic/phone withdrawals or transfers from your account per month. Transfers to pay loan accounts are not included in this 6 transfer limitation.

Three free withdrawals (debits) of any type are allowed each month ($25 fee for each additional withdrawal (debit) of any type). Dividends are paid monthly and are calculated daily based on the balance of the account. The rate may change if the balance drops below the minimum balance (see below). Rates are variable and fees may reduce earnings.

Type	Standard	Gold	Platinum	Jumbo
Minimum opening deposit	$2,500	$25,000	$50,000	$100,000
Minimum Balance Requirement: to open	$2,500	$25,000	$50,000	$100,000
If deposit falls below minimum for each day below minimum	Earns 0.00%	Earns regular share rate	Earns regular share rate	Earns regular share rate.

Fees:

Type	Standard	Gold	Platinum	Jumbo
Fee for 3 or less withdrawals per month	$0.00	$0.00	$0.00	$0.00
Fee for each withdrawal exceeding 3 per month	$25.00	$25.00	$25.00	$25.00

SACU Money Market account allows you to earn a highly competitive yield with a minimum daily balance of just $2,500. It is your responsibility to move your funds to the correct money market account to get the best interest rate. Money Market Accounts offer you the advantage of easy access, liquid funds with higher yields than our standard Savings accounts. Elevations Credit Union Money Market Accounts are insured investments. You can make up to 6 electronic/phone withdrawals or transfers from your account per month. Transfers to pay loan accounts are not included in this 6 transfer limitation.

Three free withdrawals (debits) of any type are allowed each month ($25 fee for each additional withdrawal (debit) of any type). Dividends are paid monthly and are calculated daily based on the balance of the account. The rate may change if the balance drops below the minimum balance (see above). Rates are variable and fees may reduce earnings.

Terms and Conditions of Share Draft (Checking) Account - I/we hereby authorize Shores Area Credit Union to establish this Share Draft Account for me/us. The Credit Union is authorized to pay share drafts signed by me (or by any of us) and to charge all such payments against the shares in this Account. It is further agreed that:
(a) Only share draft blanks (and other methods) approved by the Credit Union may be used to make withdrawals from this Account.
(b) All non-cash payments received in this Account will be credited subject to final payment of such items.
(c) The Credit Union is under no obligation to pay a share draft that exceeds the fully paid and collected share balance in this Account. However, the Credit Union may, at its discretion, pay such a draft. If the Credit Union does pay such a draft, it is agreed that the Credit Union shall be immediately reimbursed, by one or more of the undersigned, to the extent that such a draft exceeds the share balance in this Account. Such reimbursement shall be in cash, unless another manner of reimbursement has been authorized below.
(d) The Credit Union may pay a share draft on whatever day it is presented for payment, notwithstanding the date (or any other limitation on the time of payment) appearing on the share draft unless the Credit Union has, prior to presentment and with reasonable time for the Credit Union to act, received a separate notice of postdating or stop payment order concerning the share draft.
(e) When paid, share drafts become the property of the credit Union and will not be returned either with the periodic statement of this Account or otherwise. Copies of such share drafts will be provided, if requested, and the Credit Union may charge a fee for providing such copies.
(f) Except for negligence, the Credit Union is not liable for any action it takes regarding the payment or nonpayment of a share draft.
(g) Any objection respecting any item shown on a periodic statement of this Account is waived unless made in writing to the Credit Union before the end of 60 days after the statement is mailed.
(h) This Account is subject to the Credit Union's right to require advance notice of withdrawal, as provided in the Credit Union's bylaws.
(i) This Account is also subject to such other terms and conditions as the Credit Union may establish from time to time. Such other terms and conditions Include, without limitation, service charges for stop payment orders, drafts returned for insufficient funds, and any other service as designated by the Credit Union. The Credit Union may change the terms and conditions of this Account upon giving a 30-day written notice. Notice may be given by U.S. mail, first class, postage prepaid, to my/our last known address, as reflected in the Credit Union's records. Notice to any one owner shall be notice to all owners.
(j) If this Agreement is signed by more than one person, the persons signing below shall be the joint owners of this Account which, in that event, shall be subject to the additional terms and conditions printed on the reverse side hereof.

Additional Terms and Conditions (Joint Share/Share Draft Account Agreement)
The Credit Union is hereby authorized to recognize any of the signatures subscribed on the reverse side hereof in the payment of funds or the transaction of any business for this Account. The joint owners of this Account hereby agree with each other and with the Credit Union that all sums now paid into this Account, or heretofore or hereafter paid into this Account, by any or all of said joint owners with all accumulations thereon, are and shall be owned by them jointly, with right of survivorship, and be subject to the withdrawal or receipt of any of them, and payment to any of them or to the survivor(s) shall be valid and discharge the Credit Union from any liability for such payment. The right or authority of the Credit Union under this Agreement shall not be changed or terminated by said owners, or any of them, except by written notice to the Credit Union which shall not affect transactions previously made.

Overdraft Reimbursement Options - (1) I/We hereby authorize the Credit Union to reimburse itself for any draft drawn on this Account which the Credit Union pays, to the extent which such draft exceeds the share balance in this Account, by making loan advances in the exact amount required to this Account from Loan Account
(2) If the Credit Union declines to make a loan advance as set forth in paragraph (1) above, or if I/we have not authorized such a loan advance, then I/we hereby authorize the Credit Union to reimburse itself for any draft which it pays, to the extent by which such draft exceeds the share draft balance in this Account, by transferring sufficient shares from share (savings) accounts. Such advances shall be from the accounts shown on front side, and shall not reduce the balance in any Regular Share account below the par value of one share. Such transfers shall be subject to a service charge, as determined by the Credit Union from time to time.

Courtesy Pay - protection to your personal accounts. Courtesy Pay may cover your insufficient funds items (Saving, Checking, ACH), up to your approved limit, for one low fee per covered overdraft transaction. That means, instead of returning a share draft to the merchant because of insufficient funds, the Credit Union may pay your item, saving you additional charges from the merchant. Must be set up for direct deposit of at least $800 per month going into your account. Member does not have to “sign up” for service but will have to notify us in writing to “opt out”. Must pay back within 30 days if not we may start collection proceeding. If loans at the credit union are delinquent we may suspend your privileges.

Fictitious Business Name Accounts - if the name in which the account is held is fictitious, each account holder represents that one or more of the account holders have the right to use that name and have fulfilled all legal requirements for using and or doing business under that name.

Escheat - if for five years there is no activity by you on your share account, such as making a deposit or withdrawal. We must transfer the balance of the share account to the state of Michigan.

Share draft (checking) - closing out your share draft account we require you to bring in your unused share drafts. If you don’t there will be a $5.00 charge

Requirements to Open an Account - Picture I.D. (driver’s license or a state of Michigan I.D.) and Social Security Card and one other piece of I.D. Must be register at one of the parishes we represent or any person over the age of 55 who receives a retirement annuity, pension, social security, or similar retirement payment from private or government sources, and lives in, or belongs to a retirement organization located in the county, or in a county contiguous to the county where the credit union's main office is located.

Severability— If a court holds any portion of this Agreement to be invalid or unenforceable, the remainder of this Agreement shall not be invalid or unenforceable and will continue in full force and effect All headings are intended for reference only and are not to be construed as part of the Agreement.

Enforcement—you are liable to us for any losses, costs or expenses we incur resulting from your failure to follow this Agreement. You authorize us to deduct any such losses, costs or expenses from your account without prior notice to you. If we bring a legal action to collect any amount due under or to enforce this Agreement, we shall be entitled, subject to applicable law, to payment of reasonable attorney's fees and costs, including fees on any appeal, bankruptcy proceedings, and any post-judgment collection actions.

Governing Law — This Agreement is governed by the Credit Union's Bylaws, federal laws and regulations, the laws, including applicable principles of contract law, and regulations of the state in which the Credit Union's main office is located, and local clearinghouse rules, as amended from time to time. As permitted by applicable law, you agree that any legal action regarding this Agreement shall be brought in the county in which the Credit Union is located.

Negative Information Notice— we may report information about your loan, share or deposit accounts to credit bureaus. Late payments, missed payments, or other defaults on your accounts may be reflected in your credit report.

This Electronic Fund Transfer Agreement and Disclosure (EFT Disclosure) governs the use of all Electronic Fund Transfers (EFT) and devices (“access device(s)”), you may use to access or move funds via an EFT. This Agreement and Disclosure sets forth the terms and conditions for EFT services and discloses your responsibilities and the responsibilities of Shores Area Credit Union with regard to EFTs. You understand that the Truth In Savings Disclosure and Agreements and rules and regulations applicable to your Share Account, Checking Account, Check/ATM Card, Line of Credit, and any other account you have with us remain in effect and continue to be applicable, except as specifically modified by this EFT disclosure.

APPLICATION OF THIS EFT DISCLOSURE This EFT Disclosure applies to any Electronic Funds Transfer made to or from your account (a) through the use of your Check/ATM Card at any authorized Automated Teller Machine (ATM) or point of sale (POS) terminal, or (b) made through the use of your Personal Identification Number (PIN) in conjunction with your Check/ATM Card or (c) through, Net-Branch, Bill Payer, (d) through pre-authorized deposit of checks (for example Social Security check(s)), (e) through pre-authorized payments (for example, insurance premiums and mortgage payments) transactions at a POS termination whether or not an access device is used, (f) a check conversion to an EFT transaction such as when you provide a check to a merchant to capture the routing account and account numbers to initiate a transfer, whether the check is blank, partially completed, or fully completed and signed and regardless of whether the check is presented to the merchant or whether you or the merchant or the Credit Union retains the check, (g) other electronic access services, or (h) any transactions completed via Automated Clearing House (ACH). Additional EFT services may be made available to you by the Credit Union in the future. You will be notified regarding these services and provided with specific disclosure information for additional services as necessary or required by law.

DEFINITIONS In this EFT Disclosure, the words “you,” “your,” and “yours” refer to the party causing the EFT. The words “we,” “us,” and “Credit Union” refer to Shores Area Credit Union. The word “Card” means the Debit Check/ATM Card issued to you by the Credit Union. The word “ATM” means automated teller machine. The word “EFT” means any electronic transfer of funds other than by check or other paper instrument that is through an electronic terminal such as a computer, an ATM, a telephone, magnetic tape or other communication device which instructs or authorizes a financial institution to debit or credit an account. The word “POS” means a point of sale which represents transactions that directly debit (withdraw funds from) your designated account, including your use of the Check/ATM Card as a debit card. The words password, “PIN” or “Access Code” mean a personal identification number or other code that enables you to effect transactions via an ATM, POS terminal, Net-Branch or Bill Payer. “Access Device” refers to the Card or any password, PIN or Access Code.

AGREEMENT TO BE BOUND Requesting, retaining, using or permitting another person to use your Card, PIN, Access Code or Net-Branch or Bill Payer services constitutes acceptance by you of all the terms and conditions set forth in this EFT Disclosure and binds you to all the rules and regulations governing the use of an ATM or the making of an EFT.
VERIFICATION Any and all transactions are subject to verification. We are not responsible for delays in posting deposits due to improper identification on the deposit envelope.

OWNERSHIP OF CARD The Card is the property of the Credit Union and you agree to surrender the Card to the Credit Union promptly upon demand or retrieval by an ATM.
TRANSACTION AUTHORIZATION By using your Card in conjunction with your PIN at an ATM, you authorize the Credit Union to provide account balance information or to make withdrawals and transfers to and from your accounts with the Credit Union, in accordance with the instructions you give the ATM.

ACCESS TO ACCOUNTS If you authorize us to issue a Card or PIN (or any other Access Device) to anyone else, or if you permit any person to use your Card or PIN or other Access Device, you authorize that person to withdraw funds from any account that can be accessed by the Card, PIN or Access Device, regardless of whether that individual is authorized to withdraw funds from the account by means other than the use of the Card.

Use of the Card, your account number, the PIN or a combination of these is an order by you for the withdrawal of the amount of the transaction from your account and is authorization for the Credit Union to provide account balance information.

Each transaction using the Card will be charged against your account on the date the transaction is posted to your account.

MAKING ELECTRONIC FUND TRANSFERS You agree to follow the instructions posted or otherwise authorized by us for use at any authorized ATM. If the wrong PIN is entered three (3) times, the ATM may retain the Check/ATM Card.

LIMITATION ON TRANSACTIONS You may make cash withdrawals and purchases only to the extent that you have available funds in your account. You may use your Check/ATM Card to obtain up to $500 per day. The amount you can obtain from any individual machine is subject to the limitations placed on that machine by the operating institution.

“Banking day,” means one 24-hour period from midnight to 11:59p.m. PST. Available funds in your account as may be indicated at the time of a balance inquiry at an ATM terminal may not reflect any available authorized overdraft protection options on the account.

All EFT services may not be available at all ATMs. When you use an ATM not owned by us, you may be charged a fee by the ATM operator or network. You may be charged a fee for a balance inquiry even if you do not complete a fund transfer.

The SACU Disclosure and Fee Schedule received with this Disclosure and Agreements Disclosure will contain a list of fees applicable to EFT transactions.

DEPOSITS YOU MAY ONLY MAKE DEPOSITS to your accounts at ATM terminals authorized by the Credit Union. We will NOT BE RESPONSIBLE for any direct or incurred losses or the failure to credit any attempted deposits into any account made at an ATM terminal not authorized by the Credit Union to accept deposits. We will credit all deposits made at any authorized ATM provisionally, subject to verification and collection of the funds. Funds deposited by check are subject to hold periods in accordance with Credit Union policies not to exceed the maximum periods prescribed by applicable law. This may affect your ability to withdraw funds. Please refer to our Delayed Availability of Funds Policy.

RIGHT TO RECEIVE DOCUMENTATION You will receive a receipt at the time you make any transaction at an ATM. Any new balance shown on the receipt:

2. May not include deposits still subject to verification or collection (funds placed on hold) by us;

3. May differ from your records because of deposits in progress, outstanding checks, or other withdrawals, payments or charges.

You may receive a receipt from the merchant or financial institution at the time you make a purchase or obtain cash. You should retain this receipt to compare with your statement from us.

You will receive a statement monthly for the account(s) that you have accessed using your Card. The statement will show the effective date that you initiated the transaction, the type of transaction, and the amount of the transaction.

ILLEGAL TRANSACTIONS You are prohibited from using your Card, Card number or PIN for illegal transactions. You agree to indemnify the Credit Union for your use of the Card, Card number or PIN for illegal transactions. Such illegal transactions include, but are not limited to, any quasi-cash or Internet gambling, any electronic commerce transaction conducted over an open network or any betting or wagering. However, in the event a charge resulting from an illegal transaction is approved and processed, you will still be responsible for such charge.

CONFIDENTIALITY OF PIN Your Card and your PIN will be mailed to you separately. You agree to hold you’re PIN in strict confidence, and you will notify the Credit Union immediately if the Card or PIN is lost or stolen.

LOST OR STOLEN CARD OR PIN If you believe your Card or Pin has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call 800-554-8969, to report your lost or stolen Card or PIN, 24 hours per day. You may also write us at Shores Area Credit Union, 25901 Harper Ave; St. Clair Shores, MI 48081

RENEWAL OF CARD For your protection, your Card is issued with an expiration date. If your account is active and in good standing, upon expiration of your Card, we may issue you a renewal Card. We may not issue you a renewal Card if your account is not in good standing.

DISCLOSURE APPLICABLE TO VISA CHECK CARD In the event the Credit Union offers, and you accept a Check/ATM Card for use as a VISA Card, by your use of your Check/ATM Card with your PIN or sometimes just your Quad Card or Card number at a participating point of sale terminal or with a merchant, you authorize us to debit your checking account for cash or to pay for merchandise or services.

YOUR Check/ATM Card IS NOT A CREDIT CARD but works much like a check that you write on your checking account. You may not defer payments on Check/ATM Card transactions. You must follow the procedures established by the merchant or financial institution where you use your Quad Card, and you may be required to sign a sales slip or other document, or provide your card number. Some merchants may impose a fee for a Quad Card transaction. We are not liable if a merchant or financial institution does not accept your Check/ATM Card or card number.

TRANSACTION LIMITATIONS WHEN USING CHECK/ATM CARD AS A VISA CARD When you use your Check/ATM Card at a Point-of Sale terminal or to pay for goods or services at merchants and retailers who honor VISA cards, you may not exceed $500.00 in transactions per day.

You may receive a receipt from the merchant or financial institution at the time you make a purchase, obtain a cash advance, or transfer funds using your Check/ATM Card.

We may debit or place a hold on your account for a transaction either on the day it is presented to us for payment, or on the day we receive notice of the transaction, whichever is earlier.

If a merchant requests authorization for a transaction you want to conduct, we may place a hold on your account for the transaction amount, and the balance available to you may be reduced by the amount of the hold or the amount of any transaction posted to your account.

When you use your Check/ATM Card at a merchant that settles in currency other than US dollars, the charges will be converted into the US dollar amount. The currency conversion rate used to determine the transaction amount in US dollars is either a wholesale market rate or the government mandated rate in effect the day before the processing date, increased by a fee of 1% of the US dollar amount of the transaction. The conversion rate in effect on the processing date may differ from the rate in effect on the transaction date of the posting date.

You may not stop payment on a Quad Card transaction. In the event of a dispute with a merchant as to the quality, price, warranty of goods or services you pay for using your Check/ATM Card, you will have to settle the dispute directly with the merchant and will indemnify us for any damages resulting from such dispute. If you do not fulfill the terms of this agreement, you will also indemnify us for any resulting damages.

SAFETY TIPS FOR USING THE ATM Your Credit Union Check/ATM Card is a valuable tool, and should be properly safeguarded. Please follow these few safety precautions to insure that no one may access your account without your permission.

1. Memorize your Personal Identification Number (PIN). Do NOT write your PIN on your Check/ATM Card or leave it in your wallet or purse. Do not tell anyone else you’re PIN. If your Check/ATM Card is lost or stolen, it cannot be used without your PIN.

2. Treat your Check/ATM Card as if it were cash. Keep it in a safe place. If it is lost or stolen, or if you believe it has been or may be used without your permission, notify the Credit Union IMMEDIATELY, on any business day, during regular business hours. Failure to do so can be costly to you.

d) Stand between the ATM and anyone standing in line behind you so that they cannot see your transaction and PIN.

f) Don’t fall for "con" games. If anyone asks you to withdraw money for any reason, leave the area.

INFORMATION DISCLOSURE TO THIRD PARTIES We may disclose information to third parties about your account or any transaction you engage in:
a) When it is necessary for completing transactions;

b) In order to verify the existence and condition of your account for a third party such as a merchant or credit bureau;

c) In order to comply with a government agency or court order, subpoena or other legal documents;

PERIODIC STATEMENTS We will generate a statement of account for any month in which you use an authorized ATM, make use of Net-Branch or other electronic access services for any of the following transactions: deposits, withdrawals, transfers and line of credit advances. You may receive a receipt at the time you make any transaction at an ATM or POS terminal. In any case, we will generate a statement at least quarterly.

ACH TRANSACTIONS The following terms and conditions apply to wire transfers and to certain Automated Clearing House (ACH) transactions:
a) Funds transfers received by the Credit Union after 2:00 p.m. may be considered received on the following business day.

b) Any funds sent or received via wire transfer may be sent or received over our secure connection with the Federal Reserve (Fedline). Federal Regulation J will apply to all such transactions.

c) The beneficiary of a wire transfer (the party to whom you are sending funds) is identified both by name and an identifying account number. If you provide an erroneous account number, funds may be transferred to the account of the party holding that number, even if the name is different, and you will be responsible for recovery of any funds sent to the wrong party.

d) The financial institution to which a transfer is being sent is identified by name and a Routing/Transit (R/T) or other identifying number. If you provide the wrong number, funds may be sent to the wrong institution, and you will be responsible for recovery of such funds.

e) Notice of the receipt of funds transfers will be contained in your regular statement.
f) We bear no responsibility if the beneficiary does not receive funds transferred strictly according to your instructions. However, we will make every effort to trace the lost funds on your behalf

g) The interest rate applicable to the account to or from which a wire transfer is sent or received shall determine the interest rate applicable to the funds sent or received.

h) No wire transfer will be carried out if one or more of your share or loan accounts are overdrawn or delinquent, even if the specified account has the funds for the wire

i) ACH payments received by the Credit Union are credited to your account provisionally, subject to actual collection of the funds. Any ACH transfer will be listed on an account holder’s regular statement.

j) Electronic Check Conversion is a process some businesses use to convert paper checks into electronic debits. To use this procedure, you sign an authorization slip that permits the business to process the instructions and information on your check into an electronic transfer. The information is then used to make a one-time electronic payment from your account. We may debit to your account immediately after the business enters the transaction, so to avoid an overdraft, you must have sufficient funds in your account to cover the amount. Since the check is not sent to us for processing, we do not have a copy of the check. You should retain the check for your records.

k) The Credit Union may initiate debit/credit entries from/to your account payable to an ACCOUNT/DEPOSITORY INSTITUTION, in order to establish automatic transfer of funds, provided there are sufficient collected funds in your account to pay such ACH transactions upon presentation. You agree that our rights in respect to each ACH transaction shall be the same as if it were a draft/check signed personally by you. This authorization is to remain in full force and effect until we have received written notification from you of its termination in such time and in such manner as to afford the Credit Union and the DEPOSITORY INSTITUTION a reasonable opportunity to act on it. You agree that we shall be fully protected in honoring any such ACH transaction. If the transfer date falls on a weekend or holiday the deposit/payment may take place on the prior business day. You further agree that if any such ACH transaction is dishonored, whether with or without cause and whether intentionally or inadvertently, we shall have no liability whatsoever even though such dishonor results in the forfeiture of service or product. You acknowledge that the origination of ACH transactions to/from your account must comply with the provisions of United States law.

ADDITIONAL DISCLOSURE APPLICABLE TO PREAUTHORIZED PAYMENT SERVICES If you have requested a pre-authorized payment from your account such as payment of insurance premiums, mortgage payments, etc., the following provisions apply to you:

INITIAL AUTHORIZATION You can get copies of the pre-authorized payment documentation from the third party being paid at the time you give them the authorization.

NOTICE OF VARYING AMOUNTS If your pre-authorized payment may vary in amount, the party who will receive the payment is required to tell you ten (10) days before each payment when it will be made and how much it will be. You may agree with the person being paid to receive this notice only when the payment will differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.

PERIODIC STATEMENT We will generate account statements monthly unless there are no transactions in a particular month. In any case we will generate account statements at least quarterly.

RIGHT TO STOP PAYMENT AND PROCEDURE FOR DOING SO If you have authorized regular payments by electronic withdrawal from your account, you can stop any single payment by completing and signing our ACH Stop Payment Form three (3) business days or more before the payment date. The form is available on our web site, or you may phone us to fax or mail it to you. If you notify us orally of the stop payment, you must provide us with the signed stop payment request within 14 days of the oral notification; otherwise the oral notification will cease to be binding. Send the signed stop payment request to us at 27175 Chippendale, Roseville, MI 48066, We will charge you a stop payment fee as shown in the Credit Union’s Disclosure Fee Schedule accompanying this EFT Disclosure. Although the stop payment will apply only to a particular payment, if the payee resubmits the item, we will continue to honor the stop payment order and may suspend future payments to the payee until you authorize us to resume payments. To terminate the entire pre-authorized payment arrangement with the payee, you must contact the payee. You can also notify us that the pre-authorized payment has been terminated. You must provide us with a copy of the revocation and the ACH Dispute Form, Written Statement Under Penalty of Perjury appropriately completed and signed within 14 days of your oral notice to use otherwise the oral notice will cease to be binding.

LIABILITY FOR FAILURE TO STOP PAYMENT OF PREAUTHORIZED TRANSFERS If you order us to stop one of these payments three (3) business days or more before the transfer is scheduled, and we do not do so; we may be liable for your losses or damages.

INSUFFICIENT FUNDS CHARGE If your account does not have sufficient funds to cover your preauthorized payment, the request for payment may be returned to the third party and your account will be charged an insufficient funds fee as shown in the Credit Union’s EFT Disclosure Fee. In the case that the Credit Union originated ACH payments, repeated unpaid returns from the non-Credit Union institution may lead to cancellation of the agreement that you signed with the Credit Union to pay or send funds elsewhere.

TO PRE-AUTHORIZED DEPOSIT OF NET PAYCHECK, PAYROLL DEDUCTIONS, PENSION CHECKS, AND FEDERAL RECURRING PAYMENTS If you have arranged to have pre-authorized electronic deposits of your payroll deductions, pension checks, or other recurring payments (for example, Social Security payments), the following provisions apply to you.

PREAUTHORIZED CREDITS If you have arranged to have direct deposits made to your account at least once every sixty (60) days from the same person or company, that third part may have agreed to notify you every time the party send us money to deposit to your account. If you have not made such an agreement, you may phone us to verify whether or not the deposit has been made or visit our
website at www.sacu.net and preview your account history through Net-Branch.

If we direct deposit any amount in an account, which should have been returned to Federal Government for any reason, you authorize us to deduct the amount from the account and from any other account, you have with us.

RIGHT TO RECEIVE DOCUMENTATION OF PREAUTHORIZED PAYMENTS You may receive copies of the preauthorized payment documentation from the third party being paid at the time of your initial authorization.

CONFIDENTIALITY OF PASSWORD AND ACCESS CODE You agree to hold your password and Access Code in strict confidence and you agree to notify us immediately if either is lost or stolen or you become aware that it has been used without your permission. You understand and agree that if you disclose your password or Access Code to anyone that you have given him or her access to your accounts via ATM and/or NET-BRANCH and you are responsible for the transactions they conduct using your password or Access Code. If the wrong password or Access Code is entered three (3) times consecutively, you will be disconnected from the service as a security measure.

ONLINE E-MAIL COMMUNICATIONS You can communicate with us via electronic mail (e-mail); however, you should e-mail us only general questions and not account information questions. SACU employees will not include or request account numbers, passwords, or other private information through e-mail. You cannot request transactions stop payments, or report an unauthorized transaction via e-mail. For these and other types of sensitive transactions, please use Net-Branch and the secure forms within that service. You may also phone or mail us these requests.

When you agree in writing to receive E-Statements and other communications, including legally required disclosures such as this EFT Disclosure or periodic statements from us in electronic form, you agree to print a paper copy of all such communications and retain them for your records. Any electronic message sent to you by us shall be considered as if sent by U.S. Mail; postage prepaid, and shall be considered received by you within three (3) days of the date sent by us.
ILLEGAL ACTIVITY You agree not to use the NET-BRANCH or the Credit Union's web site for any illegal, fraudulent or improper activity including, without limitation, gambling, or linking of the Credit Union's web site to any other web site. If any Service Provider or we suspect that you may be engaged in or have engaged in a fraudulent, illegal or improper activity, your access to the Credit Union's electronic services may be suspended or terminated without advance notice. You agree to cooperate fully with us to investigate any suspected illegal, fraudulent or improper activity.
GOVERNING DOCUMENTS Your use of NET-BRANCH is governed by this EFT Disclosure and any other agreements you have with us such as your account agreements, credit card agreements, and loan agreements. These other agreements are not modified by you using NET-BRANCH. When you log-on to NET-BRANCH you may be required to acknowledge your agreement to additional terms and conditions applicable to these services. These additional terms will not modify this Disclosure or your other agreements with us.
NO WARRANTIES: NEITHER WE NOR ANY SERVICE PROVIDER MAKES ANY EXPRESS OR IMPLIED WARRANTIES CONCERNING NET-BRANCH OR ANY BROWSER OR SOFTWARE USED INCLUDING BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT OF THIRD PARTY PROPRIETARY RIGHTS UNLESS DISCLAIMING SUCH WARRANTIES IS PROHIBITED BY LAW.

INDEMNIFICATION To the extent permitted by law, you agree to indemnify and hold harmless the Credit Union from and against any damage, loss, or liability of any kind which we incur including, without limitation, attorneys' fees and costs, that result directly or indirectly from your use of NET-BRANCH.

YOUR OBLIGATION TO REVIEW RECORDS AND REPORT
DISCREPANCIES We do not provide you with a separate written confirmation for individual transfers or transactions conducted via CU ONLINE. Confirmation is available through online information from the particular service (and for NET-BRANCH you may be able to print a confirmation from your computer) and through your periodic statements that are mailed to you.

CHANGES TO NET-BRANCH We may limit services or transactions available on NET-BRANCH from time to time, in our discretion and without prior notice. We may make any changes or modifications to NET-BRANCH, including expanding services or transactions available, and if you maintain your NET-BRANCH service after the effective date of the change, you confirm your agreement to the change and the expansion of services or transactions. We may, without notice, modify or discontinue your access to NET-BRANCH. We will provide you with advance notice for any changes as may be required by law.

CHECK REQUESTS You understand that all share withdrawals, checking account withdrawals, and loan advance checks made via NET-BRANCH will be made payable to the all named owners of the account and mailed ONLY to the address on file.

DISCLOSURE OF YOUR LIABILITY FOR UNAUTHORIZED TRANSACTIONS WITH YOUR CHECK/ATM CARD OR PERSONAL IDENTIFICATION NUMBER (PIN) Tell us AT ONCE if you believe that your Check/ATM Card (each a “Card”) or an access code, password or Personal Identification Number (PIN) associated with either, with Net-Branch, or with any other electronic access service, has been lost, stolen or discovered by an unauthorized person or if you believe that someone may have used your Card or access code, password or PIN with your permission. Telephoning is the best way of keeping your controlling possible losses. Call us immediately, visit our web site at www.sacu.net, or write us at Shores Area Credit Union, 27175 Chippendale, Roseville, MI 48066. You may visit any Credit Union office to report the loss or theft.

For all EFT transactions, if you tell us within two business days, you can lose no more than $50 if someone accessed your account without your permission. If you do not tell us within two business days after you learn of the unauthorized use of your account or EFT service, and we can prove that we could have stopped someone from accessing your account without your permission if you had told us, you could lose as much as $500.

If your statement shows EFT transfers that you did not make and you do not tell us within sixty (60) days after the statement was mailed to you, you may be liable for the full amount of the loss, if we can prove that we could have stopped someone from making the unauthorized EFT transactions. If a good reason (such as a hospital stay) kept you from telling us, we will extend the time periods.

If you authorize someone else to use your Card or PIN, you are responsible for all transactions, which that person initiates at any time, even if the amount of the transaction exceeds what you authorized.

EXCEPTION FOR CERTAIN VISA TRANSACTIONS If there is an unauthorized use of your Check/ATM Card, and the transaction takes place on the VISA network, then your liability will be zero ($0.00). This provision limiting your liability does not apply to either VISA commercial cards or ATM cash Disbursements. Additionally, your liability with respect to unauthorized transactions may be greater than the above zero ($0.00) liability limit, to the extent allowed under applicable law, if the credit union reasonably determines, and based on substantial evidence, that you were grossly negligent or fraudulent in the handling of your account or card. In any case, to minimize your potential liability you should notify us of any unauthorized use no later than 60 days after your statement was mailed to you.

IN CASE OF ERROR OR QUESTIONS ABOUT ELECTRONIC FUNDS TRANSFER You may telephone us or contact us by visiting our website at www.sacu.net, or write to us at Shores Area Credit Union, 25901 Harper Ave; St. Clair Shores, MI 48081 as soon as you can if you think your statement or receipt is wrong, or if you need more information about a transaction listed on the statement or receipt. You must notify us no later than sixty (60) days after we generate the FIRST statement on which the problem or error appeared.

a) Your name, your member number, your account number and any pertinent information pertaining to the error or question.

b) Describe the error or transaction you are unsure about, and tell us clearly why you believe it is an error or why you need more information.

If you tell us orally, we will require that you send us your complaint or question in writing within ten (10) business days.

We will determine whether an error occurred within ten (10) business days (20 business days in the case of errors involving accounts within 30 days of being opened) and we will correct any error promptly. If we need more time, we may take up to forty-five (45) days (90 days in the case of errors involving new accounts, point of sale debit transactions or transfers initiated outside the United States) to investigate your complaint or question.

In those cases when we need more time to investigate, we may credit your account within ten (10) business days (20 business days in the case of errors involving new accounts) for the amount you think is in error, so that you will have use of the money during the time it takes us to complete our investigation.

If you tell us orally and we ask you to put your complaint or questions in writing and we do not receive it within ten (10) business days, we may not credit your account.

If we decide that there is no error, we will send you a written explanation within three (3) business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation.

Termination of Service You may terminate your Net-Branch service Agreement or any EFT service under this Agreement at any time by notifying us in writing and stopping the use of any security/service password. You also agree to notify any participating merchants that authority to make bill payment transfers has been revoked. We may also terminate this Agreement at any time by notifying you orally or in writing. If we terminate this Agreement, we may notify any participating merchants making preauthorized debits or credits to any of your accounts that this Agreement has been terminated and that we will not accept any further preauthorized transaction instructions. We may also program our computer not to accept your security/service password for any EFT service. Whether you or Credit Union terminates this Agreement, the termination shall not affect your obligations under this Agreement for any EFTs made prior to termination.

Governing Law This Agreement is governed by the Bylaws of the Credit Union, federal laws and regulations, the laws and regulations of the state of Michigan and local clearinghouse rules, as amended from time to time. Any disputes regarding this Agreement shall be subject to the jurisdiction of the court of the county in which the Credit Union is located.

Enforcement In the event either party brings a legal action to enforce the Agreement or collect any overdrawn funds on accounts accessed under this Agreement, the prevailing party shall be entitled, subject to applicable law, to payment by the other party of its reasonable attorney's fees and costs, including fees on any appeal, bankruptcy proceedings, and any post-judgment collection actions, if applicable If there is a lawsuit, you agree that it may be filed and heard in the county and state in which the Credit Union is located, if allowed by applicable law.

Notices
All notices from us will be effective when we have mailed them or delivered them to your last known address in the Credit Union's records. Notices from you will be effective when received by the Credit Union at the address specified in this Agreement. We reserve the right to change the terms and conditions upon which this service is offered. We will mail notice to you at least twenty-one (21) days before the effective date of any change. Use of this service is subject to existing regulations governing the Credit Union account and any future changes to those regulations.

Fees and Charges
There are certain charges for Net-Branch services. From time to time, the charges may be changed. We will promptly notify you of any changes as required by applicable law.
Pre-Authorized EFT Fees Non-sufficient funds fee of $20.00 per transaction.

Net-Branch Fees Bill Payment service via internet is $5.00 per month if your account becomes inactive for 60 days. Fee will continue until you notify us that you no longer want this service. Credit Union will automatically deduct the service fee from your primary checking account on the last day of the month. We will continue to charge your account monthly on the same day (or the next banking day if the due date falls on a weekend or holiday), until the service is discontinued.

There is a $1 fee per transactions after 4 transactions per month to use your SACU Check/ATM Card using ATMs. Please refer to the current Fees Schedule for any charges associated with your card or for using ATM machines not owned by us.

When you use an ATM not owned by us to perform a transaction or inquiry, the ATM operator may charge you a fee.

There may be a special charge for certain transactions performed at a point of Sale (POS) terminal or merchant. These charges are from the vendor or its financial institution. They are not charges of this Credit Union.

Bill Payments Funds will be taken out of your designated funding account on the Schedule Initiation Date entered by you. In many cases, your bill payments are electronically delivered to the payee within two (2) business days of the Scheduled Initiation Date. However, some payees are not set up to accept electronic payment. In these cases, a check will be sent, which may take five (5) business days to process and deliver to the payee. Net-Branch provides an indication of how many days to allow for each payee.

Sufficient time must be allowed (5 or 7 business days) for Net-Branch to receive your request and process the bill payments so that the finds can be delivered to the payee before the payment due date, or for mortgage payments, on or before the due date (the due date shown on your invoice agreement with the payee, not taking into account any grace period provided by the payee). If you do not allow sufficient time, you will assume full responsibility for all late fees, finance charges, or other actions taken by the payee.

Credit Union is responsible only for exercising ordinary care in making payments upon your authorization and for mailing or sending a payment to the designated payee. Credit Union is not liable in any way for damages you incur if you do not have sufficient funds in your account to make the payment on the processing date, if the estimate of the time to allow for delivery to the payee is inaccurate, or due to delays in mail delivery, changes of merchant address or account number, the failure of any merchant to account correctly for or credit the payment in a timely manner, or for any other circumstances beyond the control of Credit Union.

Welcome to Online Banking Bill Payment Service. Use of the Bill Payment Service indicates acceptance of terms and conditions set forth in the Online Banking Agreement & Disclosures and the terms and conditions set forth in this Bill Payment Agreement & Disclosures (“Agreement”) as each may be jointly and/or independently amended from time to time. This Agreement is provided in electronic form, and by using the Bill Payment Service you agree to accept the Agreement in that form. Please read the Agreement carefully because it is our legal agreement with you that governs your use of our Bill Payment Service.

1. INTRODUCTION
Through online banking you may subscribe to our optional Bill Payment Service. The Bill Payment Service allows you to schedule payments through the Internet for current, future, and recurring bills from your checking account with us.

You may use our Bill Payment Service to direct us to make payments from your designated checking account to the Payees you choose in accordance with this Agreement. The terms and conditions of this Agreement are in addition to the agreements, disclosures and other documents in effect from time to time governing your deposit account with us, including the Deposit Account Agreement & Disclosures (“Deposit Agreement”), and the Online Banking Agreement & Disclosures.

“Bill Payment Service” and/or “Service” means the bill payment service that Shores Area Credit Union makes available over the Internet with Paytraxx and is also a Service under the Agreement. “Bank”, “we”, “our”, or “us” means Shores Area Credit Union. “Account” means the deposit account you designate to process Bill Payment transactions through. "Payee" or “Merchant” means anyone you designate and we accept as a payee. “Payment” means your remittance to a payee.

2. REQUIREMENTS & RESTRICTIONS
To subscribe to Bill Payment, you must designate a specific checking account to process your Bill Payment transactions through. The account you designate for this purpose must be in good standing with us in accordance with our criteria.

Bill Payment is intended for use only by individuals and sole proprietors. Other types of legal entities (partnerships, LLCs, corporations) are not permitted to use the Bill Payment Service. We will not permit you to use a money market or savings account as your designated Bill Payment account because federal regulations require us to limit the number and types of transfers from money market and savings deposit accounts.

Requirements for dual signatures on checks do not apply to the Bill Payment Service.

3. PAYEE DESIGNATION
You can use the Bill Payment Service to make payments to almost any Payee or Merchant you want, including individuals, local service providers, utilities, credit cards, or to make mortgage or loan payments, or charitable donations, etc.

The Bill Payment Service cannot be used to make payments for the following:
Tax payments to the Internal Revenue Service or any state, local or other government agency;
Court-ordered payments such as child support or alimony; and
Payees located outside of the United States.

By furnishing us with the names of your Payees (Merchants and/or individuals) and their addresses, you give us authorization to follow the Payment instructions, which you provide to us. When we receive a Payment instruction for the current date or a future date, we will remit the funds to the Payee on your behalf from the funds in your designated Account; on the day you have instructed them to be sent (“Payment Date”). We are not obligated to pay funds from your Account if the available Account balance is insufficient to cover the Payment. Funds for ALL bill payments, whether paid electronically or by check, will be withdrawn from your Account no later than three (3) business days following the Payment Date.

We are not responsible if a Payment cannot be made due to incomplete, incorrect, or outdated information provided by you regarding a Merchant, or if you attempt to pay a Merchant that is not on your Merchant Accounts list.

4. MAKING / SCHEDULING PAYMENTS
You may use the Bill Payment Service to authorize recurring payments or non-recurring payments. Recurring payments are payments that you schedule in advance to recur at substantially regular intervals in the same amount to the same Payee. Recurring Payments may be scheduled for up to ten (10) years. Non-recurring Payments are a single, one-time Payment to a specified Payee. Non-recurring Payments may be scheduled to be initiated up to eighteen (18) months in advance.

Payments are processed Monday through Friday at 1PM Central Time, except on Federal holidays. If you attempt to schedule a Payment on a weekend or Federal holiday, you will be prompted to select a different date, or the Payment will be processed on the preceding business day if it is an auto recurring Payment. The Payment method may be electronic or by check. The first Payment to a Merchant must be scheduled at least five (5) business days prior to the due date for each Payment (recurring or variable) to allow adequate time for the Payment to reach the Payee. The due date is the date the Merchant has designated for payment, and should not be adjusted for any grace period or late date accommodations the Merchant may provide. Once the Service has been notified whether a Merchant accepts electronic payments or requires a paper check, after making the first Payment to that Merchant, the Service will display a message indicating that the Merchant requires either a two (2) day lead time for an electronic payment, or a five (5) day lead time if a paper check sent by regular mail is required.
Any Payments made with the Bill Payment Service require sufficient time for your Payee to credit your Account with them properly. To avoid incurring a finance charge or other charge, you must schedule a Payment sufficiently in advance of the due date of your Payment. If you fail to schedule your Payment according to the recommended timeframe, we will not be responsible for the late fees or finance charges. We will not be liable if any third party, through whom any Payment is made, fails to properly transmit the Payment to the intended Payee.

You agree to have available collected funds on deposit in the Account you designate in amounts sufficient to pay for all Payments requested, as well as any other payment obligations you have to us. We reserve the right, without liability, to reject or reverse a Payment if you fail to comply with this requirement or any other terms of this Agreement. If you do not have sufficient funds in your designated Account and we have not exercised our right to reverse or reject a Payment, you agree to pay for such payment obligations on demand. You further agree that we, at our option, may charge any of your accounts with us to cover such payment obligations.

5. Change or Delete Payments / Stop payments
Any Payment can be changed or cancelled; provided you access the Service prior to 1PM Central Time on the business day the Payment is going to be processed.

We shall not be liable to you due to a stop payment request if your order to do so is not presented prior to the time the check has cleared. Once the Payment has cleared, you can no longer stop payment.

6. PAYMENT GUARANTEE
If all Payment guidelines were followed and a Payment is still posted late to your Account with a Merchant resulting in a late fee, at our discretion, we will make an attempt to have the Merchant waive the late fees. If the Merchant is unwilling to waive late fees, up to $50 in late fees assessed by the Merchant will be covered by us. However, due to factors beyond our control such as the U.S. Mail and payment processing at the Merchant, it is not guaranteed that a Payment will post on the fifth business day (or second, if issued electronically). It is imperative to note that Merchant grace periods are not taken into consideration, and if adequate lead time prior to the payment due date was not allowed by you in scheduling the Payment, this Guarantee is void.

NOTE: If the Merchant is not willing to discuss late fees or status of the account with us, you will be notified and advised that the Merchant requires your authorization before further discussions can occur between us and the Merchant.

7. LIABILITY
You are solely responsible for controlling the safekeeping of and access to your Bill Payment information. You are liable for all transactions you make, or that you authorize another person to make, even if that person exceeds his or her authority. If you want to terminate another person's authority, you must change your

Online Banking logon password. In the event that you have experienced unauthorized access to our Bill Payment, you must notify us of the unauthorized access, identify any Payments made or potential Payments scheduled, and change your logon information. You will be responsible for any Payment request you make that contains an error or is a duplicate of another Payment. We are not responsible for a Payment that is not made if you did not properly follow the instructions for making the Payment. We are not liable for any failure to make a Payment if you fail to promptly notify us after you learn that you have not received credit from a Payee for a Payment. We are not responsible for your acts or omissions or those of any other person, including, without limitation, any transmission or communications facility, and no such party shall be deemed to be our agent.

In any event, we will not be liable for any special, indirect, consequential, incidental, or punitive losses, damages, or expenses in connection with this Agreement or the Service, even if we have knowledge of the possibility of them. We are not liable for any act, failure to act or delay in acting if it is caused, in whole or in part, by any cause beyond our reasonable control.

8. INACTIVITY
If you do not access or use the Bill Payment Service for a period of more than ninety (90) days this service will be classify as inactive.

9. TERMINATION
We reserve the right to terminate your use of Bill Payment at any time without prior notice to you.

If, for any reason, you should want to terminate your use of our Bill Payment Service, we recommend that you cancel all future Payments and transfers at the same time you terminate the Service, either by deleting the Payments yourself or by contacting the Bank as stipulated below. We will delete all outstanding payments (both one-time and recurring), as part of your Service termination.

We are not responsible for any fixed Payment made before we have a reasonable opportunity to act on your termination notice. You remain obligated for any and all Payments made by us on your behalf through the Bill Payment Service.

Should you opt to discontinue any of the Accounts or Services to which this Agreement pertains, written notice must be provided to us immediately at the following address.
Shores Area Credit Union
25175 Chippendale
Roseville, Michigan 48066

10. AGREEMENT ASSIGNMENT AND AMENDMENT
We may assign this Agreement to any affiliate, parent or other company. We may also assign or delegate certain of its rights and responsibilities under this Agreement to such third parties as we may elect upon notice to you whereupon we shall be released from any and all further liability or responsibility related thereto.
We reserve the right to amend or cancel any of the provisions of this Agreement, including changes to any fees, costs, or assessments. We may amend or cancel any provision or charge by disclosing the change electronically, and, at our option, by sending you notification in addition thereto. We will provide notice of thirty (30) days of any changes (or such lesser period as may be allowed by applicable law) unless an immediate change is necessary to maintain the security of the system. You may choose to accept or decline amendments, cancellations or changes by continuing or discontinuing the accounts or services to which these changes relate, at your option. We also reserve the option, in our business judgment, to waive, reduce or reverse charges or fees in individual situations.

11. FEE
If member signs up for Bill Payment and stop using service and the account becomes inactive. There will be a $5 fee per month until he notifies us to close service out this service.

13. STOPPING SERVICE
It is your responsibility to inform us in writing that you no longer want this service.

ACCEPTING THIS AGREEMENT
Before you sign or use the Shores Area Credit Union VISA credit card issued to you, please read this Agreement thoroughly, because by using the credit card you will be agreeing to the terms and conditions stated in this Agreement. If you do not wish to be bound by this Agreement, do not use the credit card and write to us and tell us that you wish to cancel your credit card account with us. If you have received cards to access the card account, destroy them.

DEFINITIONS
In this Agreement the words “you,” “your” and “yours” mean each and all of those person(s) who sign the loan application or otherwise apply for and use the card (including your spouse or minor children), the words “credit card” mean the Shores Area Credit Union VISA credit card, and the words “we,” “our,” “us” and “Credit Union” mean the Shores Area Credit Union.

LIABILITY OF ALL PERSONS SIGNING THE APPLICATION
You understand that you are liable for the payment of all sums due under this Agreement. If the loan application was signed by more than one person, each person, individually, and all persons jointly are obligated to repay all sums due under this Agreement. You agree that all statements made in your application for your credit card were for the purpose of obtaining credit and are true, correct, and complete to the best of your knowledge and belief.

CREDIT LIMIT
This Agreement establishes a credit card account for you with an open end line of credit. We will establish a credit limit for you and will inform you of that limit, and may increase or decrease that credit limit from time to time. Your monthly statements will show the amount of credit available to you for purchases and cash advances as of the statement date. We will give you notice of any change in your credit limit. You agree not to use your account in any way that would make the unpaid balance of your account or cash advances on your account exceed your credit limit. You also agree to pay us the amount of any transactions on your account in excess of your credit limit along with your regular minimum payment at your next scheduled payment due date.

SECURITY INTEREST - LIEN ON SHARES
The Credit Union may, if you are in default, impose and enforce a lien on all shares (except IRA accounts) then on deposit needed by the Credit Union to repay your loan in accordance with the State and/or Federal Credit Union Act Section 1757(11) and the Credit Union’s bylaws and under the Consumer Open-end Credit Agreement (CUNA Mutual form BXX078).

If you give the Credit Union a specific pledge of shares by signing a separate pledge of shares, your Account will be secured by the pledged shares. Collateral securing other loans you have with the Credit Union may also secure this loan, except that your home will never be considered as security for this Account notwithstanding anything to the contrary in any other agreement.

PERSONAL IDENTIFICATION NUMBER
A Personal Identification Number (PIN) may be issued on all new accounts. This number may be used by you with your credit card to obtain a Cash Advance on your account at any automated teller machine displaying the credit card logo or to make purchases at any designated point of sale (POS) machine. Please keep your PIN confidential and do not write it on or keep it with your credit card. You may cancel your PIN by submitting the request in writing.

CREDIT INFORMATION
You agree that we may re-examine and re-evaluate your credit worthiness at any time. You authorize us to obtain, from time to time, information from others, including, but not limited to credit reporting agencies, concerning you and your credit accounts. You also authorize us to respond to requests from others and to provide information regarding the status and history of your accounts with us. However, we are not obligated to release any such information to anyone unless we are required by law to do so. You agree that we have the right to terminate future advances under your line of credit or reduce your credit limit upon re-examination and reevaluation of your credit worthiness.

CHANGE OF NAME, ADDRESS, EMPLOYMENT
You agree to promptly report to us any change in your name, address, employment or telephone number.

ADVANCES / PURCHASES
The two ways to access your line of credit are by making a purchase at a merchant’s location that accepts the credit card and by making a cash advance. We will not be responsible or liable to you should anyone refuse to accept or honor your card, or should anyone retain your card and not return it to you. You may request cash advances under this Agreement by making a written or telephone request to us, or by requesting a cash advance at a financial institution or Automated Teller Machine that accepts the credit card. You agree to repay all advances for purchases and cash advances made by you or at the request of a signed borrower under this Agreement and you understand that all loan advances will be subject to terms of this Agreement. You agree not to request advances or make purchases or use your account in any way that would make the unpaid balance of your account exceed your credit limit. All balance transfers are treated as cash advances.

MINIMUM MONTHLY PAYMENTS
You will receive a statement for each monthly billing period in which your account has an outstanding or credit balance. Classic and Gold Cards you agree to pay us, each month, a minimum monthly payment of 3.0% of the balance due or $20, whichever is greater, plus the unpaid amount of any previous monthly payments. Platinum Cards you agree to pay us, each month, a minimum monthly payment of 2.5% of the balance due or $25, whichever is greater, plus the unpaid amount of any previous monthly payments. The minimum monthly payment must be received at the payment center on or before the payment due date reflected on the front of your monthly billing statement or the payment will be considered past due. You understand that you can repay the balance in full or in part without any prepayment penalty at any time. If you make extra payments or larger amounts, you are still required to make at least the minimum payment each month your account has a balance. The minimum payment will be increased by the amount of any outstanding balance in excess of your credit limit. Payments will be applied, subject to applicable law, to what you owe the Credit Union in any manner the Credit Union chooses. If you have a credit balance on your account due to merchant credits, adjustments or overpayment, we will hold and apply this credit balance against future purchases and cash advances, or refund it at your written request. Payments received after 3:00 PM may be posted to the account on the next business day. Payments are subject to posting delays of up to five (5) days if received at any other address than what is designated on the monthly statement for mailing payments.

BALANCE-FINANCE CHARGE
The Finance Charge on Credit Purchases begins to accrue on the date each is posted to your account. In the event the entire balance is paid in full by the Payment Due date no interest will be due. The Finance Charge on Cash Advances begins to accrue on the date you obtain the Cash Advance or the first day of the billing cycle in which it is posted to your account, whichever is later. The Finance Charge for a billing cycle are computed by applying the daily periodic rate to the average daily balance multiplied by the number of days in the billing cycle OR the monthly Periodic Rate to the average daily balance during the billing cycle, which is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the cycle. Each daily balance is determined by adding to the Previous Balance (the outstanding balance of your account at the beginning of the billing cycle) any new Credit Purchases posted to your account and any Cash Advances received, and subtracting any payments as received or credits as posted to your account, but excluding any unpaid finance Charges. If a finance charge is due, the minimum amount will be $0.50

PROMISE TO PAY
You agree to pay us, at the payment address stated on the front of your monthly billing statement, all sums which have been accumulated on your account by you or others with your permission, together with any finance charges, late charges, collection costs, attorney’s fees, and any other service charges computed on your account as set forth in this Agreement.

PAYMENTS MARKED “PAID IN FULL”
The Credit Union may accept checks, money orders, share drafts, or other types of payment marked “payment in full” or using other language to indicate full satisfaction of indebtedness, without being bound by such language or waiving any rights under this Agreement. Full satisfaction of indebtedness shall be accepted by the Credit Union only in a written agreement, signed by an authorized employee of the Credit Union.

USE OF THE ACCOUNT BY OTHERS
If you permit another person to use your account, you agree to pay for (1) any transactions made by that person and (2) charges imposed on those transactions, even if the amount of the actual use exceeds your permission to the extent allowed by applicable law.

LOST OR STOLEN CARDS
You agree to notify us immediately if your Card is ever lost or stolen or if unauthorized use may occur. You agree to assist us in determining the facts, circumstances, and other pertinent information relating to any lost, theft, or possible unauthorized use of your Card(s) and to comply with such procedures as we may require in connection with our investigation. If your account is in good standing, we will send you a new Card with a new account number to replace the Card that was lost or stolen. Although you will be issued a new account number, you will not be considered to have opened a new account, and any existing balance will be transferred to the replacement account. Convenience checks issued on an account with a lost/stolen Card will not be honored once the Card has been reported lost/stolen.

LIABILITY FOR UNAUTHORIZED USE
If you believe that your Card may have been lost or stolen or that your account number may have been used without your authorization, you must notify us immediately at: 1¬800-828-3901 or writing to, P.O. Box 8054, Plymouth, MI 48170-8054. You will not be held liable for the unauthorized use of your Visa Credit Card account.

AUTHORIZATIONS
Some transactions on your account will require prior approval. These prior approvals are called “authorizations”. We may limit the number of authorizations we will give the account during any certain period of time (day, weekend, week) and we may deny an authorization if we suspect that your account is being used without your permission. If our authorization system is not working fully, we may be unable to give an authorization even though the transaction would not exceed your credit line and your account is in good standing. For security reasons, we cannot explain the details of how the authorization system works. You agree that we will not be liable for failing to give an authorization.

ADDITIONAL BENEFITS/CARD ENHANCEMENTS
The Credit Union may from time to time offer additional services to your account. You understand that the Credit Union is under no obligation to offer such services and may withdraw or change them at any time. Terms / conditions subject to change.

ANNUAL PERCENTAGE RATE
The interest rate on all SACU VISA products will be as following: For VISA Classic the minimum rate at any given time will be 11.9%, 13.9%, 14.9%, 15.9% and 17.90% rate is determined by risk base lending policy. Finance Charge for a billing cycle is computed by applying the monthly Periodic Rate of .9916%, 1.158%, 1.241%, 1.306% and 1.491% which is an ANNUAL PERCENTAGE Rate of 11.9%, 13.9%, 14.9%, 15.9% and 17.9% to the average daily balance of Credit Purchases, which is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the cycle. For VISA Gold the Finance Charge for a billing cycle Is computed by applying the monthly Periodic Rate of .8136% which is an ANNUAL PERCENTAGE Rate of 9.9% to the average daily balance of Credit Purchases, which is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the cycle For VISA Platinum the Finance Charge for a billing cycle Is computed by applying the monthly Periodic Rate of .7417% which is an ANNUAL PERCENTAGE Rate of 8.9% to the average daily balance of Credit Purchases, which is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the cycle. Each daily balance of Credit Purchases is determined by adding to the outstanding unpaid balance of Credit Purchases at the beginning of the billing cycle any new Credit Purchases posted to your account, and subtracting any payments as received and credits as posted to your account, but excluding any unpaid Finance Charges.

LATE PAYMENT ON VISA CLASSIC WILL CHANGE ANNUAL PERCENTAGE RATE
The ANNUAL PERCENTAGE RATE will be charged on VISA Classic if payment is received thirty (30) days late. The rate will change to the maximum rate (see above for the monthly periodic rate)

SECURED VISA ACCOUNT
The periodic finance charge on an account without a 25 (twenty-five) day grace period on the advance and purchase balance: For the advance balance, which consists of
Transactions related to cash and loan advances, a periodic FINANCE CHARGE will be imposed on advance transactions from the date they are posted to your account. For the purchase balance, which consists of transactions related to the purchase of property and services, the periodic FINANCE CHARGE will be imposed on purchase transactions from the date they are posted to your account.

To compute the periodic FINANCE CHARGE on purchases and advances, we take each non-cash and cash balance times the number of days that particular balance was showing on the VISA loan. The product of these multiplications is added, and then is multiplied by the daily periodic rate to determine the amount of FINANCE CHARGE on non-cash and cash transactions.

CREDIT LIFE DISABILITY
Credit Union may offer you Credit Life and Disability Insurance in relation to your Visa account. This insurance is voluntary and need not be purchased for you to qualify for the Visa account. You acknowledge that a disclosure of the cost of this insurance has been provided to you in a separate document by the Credit Union.

LATE CHARGE
You will be charged if you fail to make your minimum payment on your due date. VISA Classic Late Fee: A late charge of $10.00 will be added to your account if you are late on a payment. VISA GOLD Late Fee: A late charge of $10.00 will be added to your account if you are late on a payment. VISA Platinum Late Fee: $25.00

OTHER FEES
Other Charges For a VISA Classic and VISA Gold the following other charges (fees) will be added to your Account. as applicable: Over Limit Fee: You may be charged a fee of $10.00 on a statement data if your New Balance on that date, is over your credit find. This fee will be added into the finance charge. You win be charged the fee each subsequent month until your New Balance on the statement date, is BELOW your credit limit. Card Replacement Fee: You will be charged $5.00 for each replacement card that is issued to you for any reason other than expiration of a current card. Document Copy Fee: You will be charged $6.00 for each copy of a sates draft or statement that you request unless such a request is made in connection with a billing error. Non-Sufficient Funds Check Fee: If any check, draft, electronic debit, or other item used to make a payment on your account is returned for non-sufficient funds, you will be charged a fee of $20.00 for each such returned item. For VISA Platinum the fallowing other charges (tees) will be added to your Account, as applicable: Late Fee: A late charge of $25.00 will be added to your account if you are late in making a payment. Card Replacement Fee: You will be charged $5.00 for each replacement card that is issued to you for any reason other than expiration of a current card. Document Copy Fee: You will be charged $5.00 for each copy of a sales draft or statement that you request unless such a request is made in connection with a billing error. Non- Sufficient Funds Check Fee: it any check, draft, electronic debit, or other item used to make a payment on your account is returned for non-sufficient funds. You will be charged a lee of $20.00 for each such returned item.

AUTOMATIC PAYMENT
If you request this optional service, we will automatically transfer the amount of the payment requested by you from your designated deposit account to your Shores Area Credit Union Visa credit card account. You are to continue to make payments in the usual manner until you receive notification that the feature is effective. The automatic payment option can be designated by you as one of the following: payment in full or the minimum due amount. The automatic payment will be deducted from your designated deposit account and applied as payment to your Visa credit card account on the payment due date. If this date falls on a Saturday, Sunday, or holiday, the payment will be deducted on the immediately preceding business day. In the event that sufficient funds are not available in the designated deposit account to pay the agreed-upon amount, we may assess an insufficient funds fee of $20.00 and a late fee $10 to $25. We may cancel this service if the transfers are not honored because of insufficient funds in your designated deposit account. Once you have authorized this automatic payment service, write or email to cancel the service or make option changes. You may also set up payments through our online internet banking site.

SECURITY INTEREST
If your account is to be “secured” you hereby grant us a security interest in the form of pledged shares in and to the share account designated by the Credit Union. This security interest includes amounts you may place in the Pledged Share Account at a later date. So long as this Agreement is in effect or an unpaid balance remains on your Account, the balance of your Pledged Share Account may not fall below the minimum balance of $400.00 plus the greater your credit limit as established and/or modified by the Credit Union. Any withdrawals from your Pledged Share will be limited accordingly. If you fail to keep any promise made to us under this Agreement or to make any payment when due, or are in any other way in default, we may, at our option, apply all or any portion of your Pledged Share Account as needed to pay your Visa Account balance. We do not have to provide you with prior notice. If your Visa Account is canceled, either by the Credit Union or you, we may hold a portion of your Pledged Share Account for up to 45 days following the surrender or expiration of all Visa cards issued on your Visa Account in order to cover any incoming charges. If any charge is incurred for a Purchase or Cash Advance after your Visa Account is closed, you give us the right to apply any of your shares in payment of the resulting Visa Account balance, without any prior notice to you.

SERVICE CHARGES
We may charge $12.00 for original single drafts ($7.50 for copies) as well as statement copies you request.

CHANGE IN TERMS
You agree that we can change the terms of this Agreement at any time, upon proper advance notice to you. We consider that you have accepted the changes if you keep or use the card after our notice. The new terms, including any increase or decrease in the charges, shall apply to all credit extended on and after the effective date of the change and to any unpaid outstanding balance owed to us by you on the effective date of the change.

CANCELLATION OF CARD
You may cancel your card at any time in writing, enclosing all cards on your account cut in two. Cancellation of the card will end all charging privileges.

We have the right to revoke your right to use the credit card at any time. We can do this with or without cause. We may list revoked credit cards in a cancellation bulletin or otherwise inform firms honoring the credit card that the credit card issued to you has been revoked or canceled. If we revoke the credit card or it expires, you must return it to us if we request. Also, if a firm that accepts the credit card asks you to surrender an expired or revoked credit card, you must do so. You may not use the credit card after it has expired or after it has been revoked. Cancellation or revocation of your credit card will not affect your obligation to pay any amounts that may be due under this Agreement.

FOREIGN CURRENCY TRANSACTIONS
If you effect a transaction at a merchant that settles in a currency other than U.S. dollars, Visa International Incorporated will convert the charge into U.S. dollars. Visa International will use its currency conversion procedure. The currency conversion rate used on the processing date may differ from the rate that would have been used on the purchase date or cardholder statement posting date.

DEFAULT / COLLECTION / ATTORNEY’S FEES
You will be in default and understand that all loan credit under this Agreement may be terminated if: (1) you do not make periodic payments as required by this Agreement; (2) you do not keep any promise made in this Agreement or any other agreement with this Credit Union; (3) any information that you give us to obtain a loan advance is false; (4) any third party attempts by legal process to take any property belonging to you; (5) you die, become insolvent or are a party to any bankruptcy proceeding; or (6) as otherwise provided in this Agreement. If you are in default, we may refuse to make any further advances or refuse charge privileges to you and declare all sums owed under this Agreement immediately due and payable. We may accept late payments or partial payments without losing any of our rights under this Agreement. You understand that if you are in default, we may add to your unpaid balance any reasonable attorney’s fees and court costs, all of which you agree to pay. The annual percentage rate (APR) charged prior to default shall remain in effect until the account is paid in full.

WAIVERS AND SEVERABILITY
We may waive or decline to enforce any of our rights under this Agreement without affecting any of our rights. Should any provision of this Agreement be determined to be invalid or unenforceable, that determination shall not affect the validity or enforceability of any other provision.

GOVERNING LAW
This Agreement, your credit card line of credit, as well as our rights and duties and your rights and duties regarding them, will be governed by and interpreted in accordance with federal law to the fullest extent possible and to the extent federal law does not apply in accordance with Michigan law, regardless of where you live and use your credit card. This Agreement is made in Michigan. All credit will be extended from Michigan and all repayment must be made in Michigan.

CONVENIENCE CHECKS
We may send you Convenience Checks which can be used to obtain cash or pay for goods or services up to the amount of your available credit limit. In such cases these Convenience Checks will be charged against your credit limit, processed as cash advances and accumulate FINANCE CHARGES from the date the check posts to your Account, pursuant to the paragraph titled ADVANCES / PURCHASES. Convenience Checks may only be used by the person whose name is printed on them. You may not use Convenience Checks to pay any amount you owe us under this Agreement. We will not return any paid Convenience Checks to you.

To make a purchase, present your Convenience Check to any participating merchant. To request a cash advance, present your Convenience Check to us or any participating financial institution.

We may decline to honor your Convenience Check if you are over your credit limit, you are in default, your Account privileges have been canceled, or your card has expired. If we decline to honor such a Check, we may charge you a $15.00 non-sufficient funds fee which we will add to your outstanding balance.

You may stop payment on a Convenience Check by notifying us in writing at the address shown on your monthly statement or by calling us at 586-771-4260 or toll free at 800-828-3901. A stop payment order will remain in effect for six (6) months and then it will lapse unless renewed. You will be charged a $15.00 stop payment fee when you stop payment on a Convenience Check.
This notice contains important information about your rights and our responsibilities under the Fair Credit Billing Act.
Notify Us In Case Of Errors Or Questions About Your Statement. If you think your statement is wrong, or if you need more information about a transaction on your statement, write us on a separate sheet at the address listed on your statement as “Send Inquires to.” Write to us as soon as possible. We must hear from you no later than 60 days after we sent you the first statement on which the error or problem appeared. You can telephone us, but doing so will not preserve your rights. In your letter, give us the following information:
§ Your name and account number
§ The dollar amount of the suspected error
Describe the error and explain, if you can, why you believe the charge is an error. If you need more information, describe the item you are not sure about.

YOU’RE RIGHTS AND OUR RESPONSIBILITIES AFTER WE RECEIVE YOUR WRITTEN NOTICE
We must acknowledge your letter within 30 days, unless we have corrected the error by then. Within 90 days, we must either correct the error or explain why we believe the statement was correct.
After we receive your letter, we cannot try to collect any amount you question, or report you as delinquent. We can continue to send statements to you for the amount you question, including finance charges, and we can apply any unpaid amount against your credit limit. You do not have to pay any questioned amount while we are investigating, but you are still obligated to pay the parts of your statement that are not in question.
If we find that we made a mistake on your statement, you will not have to pay any finance charges related to any questioned amount. If we didn’t make a mistake, you may have to pay finance charges, and you will have to make up any missed payments on the questioned amount. In either case, we will send you a statement of the amount you owe and the date that it is due.
If you fail to pay the amount that we think you owe, we may report you as delinquent. However, if our explanation does not satisfy you and you write to us within ten days telling us that you still refuse to pay, we must tell anyone we report you to that you have a question about your statement. And we must tell you the name of anyone we reported you to.
We must tell anyone we report you to that the matter has been settled between us when it finally is.
If we don’t follow these rules, we can’t collect the first $50 of the questioned amount, even if your statement was correct.

SPECIAL RULE FOR CREDIT CARD PURCHASES
If you have a problem with the quality of property or services that you have purchased with a credit card and you have tried in good faith to correct the problem with the merchant, you may have the right not to pay the remaining amount due on the property or services. There are two limitations on this right: (a) you must have made the purchase within your home state, or if not within your home state within 100 miles of your current mailing address; and (b) the purchase price must have been more than $50.
These limitations do not apply if we own or operate the merchant or if we mailed you the advertisement for the property or services.

ILLEGAL TRANSACTIONS – GAMBLING
You may not use your VISA credit card for any illegal activity or transaction. Further, you may not utilize your VISA credit card to affect the purchase of any goods or services on the Internet that involve gambling transactions of any sort. Such gambling transactions include, but are not limited to, any quasi-cash or online gambling transaction, any electronic commerce transaction conducted over an open network, and any betting transaction including the purchase of lottery tickets or casino gaming chips or off-track betting or wagering. However, in the event that a charge or a transaction described in this paragraph is approved and processed in violation of this provision, you will still be responsible for such charge.

Interest will compound quarterly to the certificate, will pay to another account, or will accrue until maturity. If no action is taken at time of maturity, the CD will renew at a six (6) month term. Early Withdrawal Penalty. We may impose a penalty if you withdraw from your account before the maturity date. For all accounts, the amount of the
early withdrawal penalty is 90 days of dividends.

How the Penalty Works. The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned on the account. It applies whether or not the dividends have been earned. In other words, if the account has not yet earned enough dividends or if the dividend has already been paid, the penalty will be deducted from the principal. Penalty incurred
for early withdrawal 90 days.

Checking Account With Direct Deposit Or 50% New Money to SACU Is Required.
* APY = Annual Percentage Yield.

Effect of closing an account - If you close your account before interest is paid; you will not receive the accrued interest.

Type	Standard	Gold	Platinum	Jumbo
Minimum Balance Requirement: to open	$2,500	$25,000	$50,000	$100,000

It is member’s responsibility to move money around from the different type of money market accounts. Credit union will not move funds automatically if account falls below minimum requirements

You are required to maintain a minimum daily balance of in your account each day to obtain the disclosed annual percentage yield.

Accrual of Dividends on Non-cash Deposits: Dividends will begin to accrue on the business day you deposit non-cash (e.g. checks) to your account.

Transaction limitations - During any statement period, you may not make more than six withdrawals or transfers to another credit union account of yours or to a third party by means of a preauthorized or automatic transfer or telephonic order or instruction. No more than three of the six transfers may be made by check, draft, debit card (if applicable), or similar order to a third party. If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the credit union.

Fees: Please see the Rate and Fee Schedule for current fees that may apply to this account.

Money Market Accounts offer you the advantage of easy access, liquid funds with higher yields than our standard Savings accounts. Elevations Credit UnionMoney Market Accounts are insured investments. You can make up to 6 electronic/phone withdrawals or transfers from your account per month. Transfers to pay loan accounts are not included in this 6 transfer limitation.

Three free withdrawals (debits) of any type are allowed each month ($25 fee for each additional withdrawal (debit) of any type). Dividends are paidmonthly and are calculated daily based on the balance of the account. The rate may change if the balance drops below the minimum balance (see below). Rates are variable and fees may reduce earnings.

Type	Standard	Gold	Platinum	Jumbo
Minimum opening deposit	$2,500	$25,000	$50,000	$100,000
Minimum Balance Requirement: to open	$2,500	$25,000	$50,000	$100,000
If deposit falls below minimum for each day below minimum	Earns 0.00%	Earns regular share rate	Earns regular share rate	Earns regular share rate.

Fees:

Type	Standard	Gold	Platinum	Jumbo
Fee for 3 or less withdrawals per month	$0.00	$0.00	$0.00	$0.00
Fee for each withdrawal exceeding 3 per month	$25.00	$25.00	$25.00	$25.00

Three free withdrawals (debits) of any type are allowed each month ($25 fee for each additional withdrawal (debit) of any type). Dividends are paid monthly and are calculated daily based on the balance of the account. The rate may change if the balance drops below the minimum balance (see above). Rates are variable and fees may reduce earnings.