The following provisions apply to all accounts and services of the Johns Hopkins Federal Credit Union:
For all disclosures provided to our members, the terms "you" and "your" mean the person or persons who have signed the Application for Membership and Services Agreement. "We" and "our" mean The Johns Hopkins Federal Credit Union. The term "Credit Union" means The Johns Hopkins Federal Credit Union. "Credit Union Board of Directors" means The Johns Hopkins Federal Credit Union Board of Directors. "Credit Union Finance Committee" means The Johns Hopkins Federal Credit Union Finance Committee.
If you have designated a particular account as a joint account, you agree jointly and severally that paid shares, payments on shares, accumulations, or deposits (hereafter "monies") in this account shall be owned by you either as Tenants by the Entireties with right of survivorship (if other than husband and wife ) or as Joint Tenants with the right of survivorship (if other than husband and wife), and monies in this account may be withdrawn by any of you. You agree to be individually and jointly liable for all fees, charges, or other accounts owed on any account.
If you have designated a particular account as a payable on death account, it is subject to your order only and payable on death to the P.O.D. payee designated in your account application. Upon the death of this party member, the funds in this account shall be payable to the named P.O.D. payee(s). The P.O.D. payees shall not possess a right to draw upon the funds in the account during the lifetime of the party member. If more than one P.O.D. payee is designated, the Credit Union will issue, upon death of the party member, one check payable to all P.O.D. payees who are then living.
Whenever the Credit Union is required to give notices to member(s), it may do so by sending written notice thereof to accountholder(s) at the most recent address indicated in the Credit Union's records. Statements reflecting account activity, charges associated with the account, and the balance in the account shall be sent to the member(s) on a quarterly basis, or monthly basis, if you have a share draft account.
You agree to keep us advised of your current address and if you fail to do so, we will not be liable to you if you do not receive our notices, nor are we liable if we mail a notice to your current address and you do not receive it. Notice to any one of you is notice to all.
JHFCU reserves the right to change the amount of service charges at a future date after giving you 30 days notice of such periodic change. A notice will be mailed with your account statement. You are responsible for all charges, as listed on the current Service Fee Disclosure, as amended.
You agree to allow the Credit Union to obtain consumer credit reports for marketing purposes, and understand that credit reports may be obtained in the future for this purpose.
Legal Process. If any legal action is brought against your account, we may pay out funds according to the term 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.
Termination of Membership. You may terminate your membership by giving us notice. You may be denied services for any reason allowed by applicable law, including a loss to the Credit Union.
Enforcement. You are liable to us for any loss, cost or expense we incur resulting from your failure to follow this Agreement. You authorize us to deduct any such loss, cost or expenses from your account without prior notice to you. If we bring legal action to collect any amount due under or to enforce this Agreement, we shall be entitled, to payment of reasonable attomey's fees and cost, including fees on any appeal, bankruptcy proceedings, and any post-judgment collection actions.
Your account shall be subject to all applicable Credit Union laws, regulations, practices and customs and the Rules and Regulations of this Credit Union (including provisions for service fees) for the type of account in question, as amended from to time to time in the Credit Union's sole discretion. Your Share Account is not transferrable as defined in 12 CFR Part 204.
By signing the Application for Membership and Programs, you, the member, and any joint account owner agree to be bound by the terms and conditions of all agreements and disclosures applicable to your account as provided at account opening or sent within 10 days of account opening and as stated in the preceding paragraph.
The supervisory authority for this Credit Union is the National Credit Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428.
