MEMBERSHIP AND ACCOUNT AGREEMENT - …

1 MEMBERSHIP AND ACCOUNT AGREEMENTThis AGREEMENT is the contract of deposit which covers your and our rights and responsibilities concerning MEMBERSHIP andaccount(s) offered to you. In this AGREEMENT , the words you and yours mean those who sign the MEMBERSHIP Applicationand/or ACCOUNT Card or ACCOUNT Change Card ( ACCOUNT Card or any other ACCOUNT opening document). The words we, us,and our mean Allegacy Federal Credit Union (credit union). The word ACCOUNT means any one or more share, checking, orcertificate accounts you have with the credit classification and form of ownership of your ACCOUNT (s) is designated on your MEMBERSHIP Application and/or AccountCard.

2 By signing the MEMBERSHIP Application and/or ACCOUNT Card that is a part of the AGREEMENT , each of you, jointly andseverally, agree to the terms and conditions in this AGREEMENT and ACCOUNT Card, including the Funds Availability PolicyDisclosure, Electronic Funds Transfer AGREEMENT and Disclosure, Privacy Notice Disclosure, and the Truth-in-SavingsDisclosure accompanying this AGREEMENT , any ACCOUNT deposit receipt, the credit union s bylaws and policies, and anyamendments which collectively govern your MEMBERSHIP and accounts.

3 You agree that additional accounts and services yourequest in the future will be governed by this AGREEMENT , as amended from time to credit union may terminate this disclosure and AGREEMENT for any reason deemed in the credit union s best interestsincluding but not limited to (a) re-evaluation of your creditworthiness; (b) upon your default under the terms or any otheragreement with us; and (c) at our option for good cause. The credit union reserves the right to amend, modify, revoke, orcancel the terms of this disclosure and AGREEMENT or any transaction services contemplated herein.

4 If notification is requiredby law, notice will be mailed to you at the address shown on the credit union s records. Any revised, amended, or modifiedconditions, rules, or regulations shall be effective at the earliest date allowed by ELIGIBILITY To be eligible for MEMBERSHIP in the credit union you must be an individual qualifying withinthe credit union s field of MEMBERSHIP and must meet the MEMBERSHIP qualifications including purchase and maintenance ofthe minimum required share(s) ( MEMBERSHIP share ) as required by the credit union s bylaws.

5 You authorize us to check youraccount, credit, and employment history, and obtain a credit report from third parties, including credit reporting agencies, toverify your eligibility for the accounts and services you Information About Opening a New ACCOUNT . To help our government fight the funding of terrorism and moneylaundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies eachperson when opening a new ACCOUNT .

6 What does this mean for you? When you open a new ACCOUNT , we will ask your name,address, date of birth, and other information that will help us to identify you. We may also ask to see some type of ACCOUNTS An individual ACCOUNT is an ACCOUNT owned by one member (individual, corporation, partnership,trust or other organization) qualified for credit union MEMBERSHIP . If the ACCOUNT owner dies, the interest passes, subject toapplicable law, to the ACCOUNT owner s estate or beneficiary, subject to other provisions of this AGREEMENT governing ourprotection for honoring transfer and withdrawal requests of an owner or owner s agent prior to notice of an owner s death andto any security interest or pledge granted by the ACCOUNT owner and subject to our statutory lien ACCOUNTS A joint ACCOUNT is an ACCOUNT owned by two or more persons.

7 Unless otherwise provided on theMembership Application and/or ACCOUNT Card, each joint ACCOUNT will be controlled by the provisions of of Survivorship. For a joint ACCOUNT with rights of survivorship, upon the death of one of the owners, the moneyremaining in the ACCOUNT will belong to the surviving owner(s). For a joint ACCOUNT without rights of survivorship, the accountowner s interest passes to his or her estate. A surviving owner s interest is subject to the credit union s statutory lien for thedeceased owner s obligations, and to any security interest or pledge granted by a deceased owner, even if a surviving ownerdid not consent to of Joint Owners.

8 Any joint ACCOUNT owner is authorized and deemed to act for the other owner(s) and the creditunion may accept orders and instructions regarding the ACCOUNT and requests for future services from any joint ACCOUNT ACCOUNT owner guarantees the signature of the other owners. Any ACCOUNT owner may withdraw all funds in the ACCOUNT ,stop payment on items drawn on an ACCOUNT , withdraw, or pledge all or any part of the shares of any ACCOUNT , including fundsrepresenting a MEMBERSHIP share, without the consent of the other ACCOUNT owner(s) and the credit union shall have no duty tonotify any other joint ACCOUNT owner(s).

9 If the credit union receives written notice of a dispute between ACCOUNT owners orreceives inconsistent instructions from them, the credit union may suspend or terminate the ACCOUNT , require a court order toact or require that all joint ACCOUNT owners agree in writing to any transaction concerning the ACCOUNT Owner Liability. If any item deposited in a joint ACCOUNT is returned unpaid or an ACCOUNT is overdrawn,or if we do not receive final payment on any transaction, each of the multiple ACCOUNT owners is jointly and severally liable tothe credit union for the amount of the returned item, overdraft, or unpaid amount and any charges, regardless of who createdthe overdraft, deposited or cashed the item or benefited from the transaction.

10 If any ACCOUNT owner is indebted to the creditunion, the credit union may enforce its rights against any or all funds in the joint ACCOUNT regardless of who contributed thefunds to the joint and Joint ACCOUNT Holder acknowledge and agree that Allegacy Federal Credit Union (credit union) may issue to eachof them an automated teller machine (ATM) card, and shall assign to them a single personal identification number (PIN). Theyfurther acknowledge and agree that possession of the ATM card or ACCOUNT number, and personal identification number (PIN)or password will permit access to individual accounts, by means of automated teller machine or by telephone or by on-lineaccess, including but not limited to the share ACCOUNT , of the Member by the Joint ACCOUNT Holder.