Truth In Savings

SAG-AFTRA FCU Account Agreement & Disclosure

All About Your Accounts Truth‐In‐Savings Disclosure | Holds and Deposited Funds Availability | Privacy Policy

Please Retain For Your Records

November 1, 2020

GENERAL: This Account Agreement & Disclosure (“Agreement and Disclosure”) provides information regarding your membership with the SAG‐AFTRA Federal Credit Union and your and our rights and responsibilities concerning your membership and account(s). This Agreement and Disclosure sets forth the specific terms and conditions applicable to the various accounts offered by the Credit Union and discloses certain terms and conditions applicable to specific circumstances and to those services you elect which may affect your account(s). This Agreement and Disclosure includes information required under the Truth In Savings Act and includes other terms and conditions applicable to all accounts (unless otherwise stated). This Agreement and Disclosure is in addition to any and all other account, loan, or service agreements and disclosures you may receive in connection with obtaining additional accounts, loans or services with the Credit Union.

This Agreement and Disclosure, the Membership Application you sign, the Rate Sheet, the Fee Disclosure, and the virtual branch Services Agreement and Disclosure, which are incorporated herein by this reference as if they were set forth in length, represent our agreements with you and contain important information governing your account(s). Please read them carefully. By signing the Membership Application or other Credit Union signature card, you also authorize the Credit Union to check (as applicable) your account, credit, union status, and employment, and to obtain reports from third parties and others, including consumer reporting agencies and account verification services, to verify your eligibility for the account(s) and service(s) you request.

In this Agreement and Disclosure the words "you", "your", "yours" and “Account Owner” mean each person, corporation, partnership, trustee, custodian or other entity, in whose name(s) an account is opened and who is an owner on a Credit Union account. The singular, where appropriate, shall also include the plural. The words "we", "us", "our" and “Credit Union” each mean SAG‐AFTRA Federal Credit Union.

Your account type(s) and ownership features are designated on your Membership Application. By signing the Membership Application or other approved signature card, each of you, jointly and severally, agrees to the terms and conditions of this Agreement and Disclosure, the Credit Union’s Bylaws and policies, and to any amendments to these documents from time to time that collectively govern your membership and account(s). This Agreement and Disclosure is binding upon each Account Owner and their respective heirs, executors, administrators, agents, successors and assigns.

This Agreement and Disclosure is accurate as of the date shown on the cover and supersedes all prior issuances. We have the right to change the terms and conditions or amend this Agreement and Disclosure from time to time as permitted by law. You may obtain information regarding this Agreement and Disclosure by calling us at any of the telephone numbers appearing on the back panel.

CREDIT UNION MEMBERSHIP

ACCOUNT VERIFICATION SERVICE AND CONSUMER REPORTS: We will verify your application for membership and account(s) through the account verification service ChexSystems. Additionally, we will also obtain a FICO score from your credit report. We reserve the right to deny any application, account, or service based on the results of any negative information received through a consumer reporting agency. If we deny your application for membership, we will provide you with the name, address and telephone number of the service that provided us with the information. You also authorize us to furnish information concerning your account(s) with us to such account verification service consumer reporting agencies.

CONSUMER REPORTS: You authorize us to obtain a consumer credit report on you at the time you apply for Credit Union Membership for the purpose of identity verification, as an added security measure to provide you and us with an enhanced layer of protection in preventing identity theft and fraud, and to determine your eligibility for other Credit Union products and services. The Credit Union may also use this information to deny you Credit Union Membership or to restrict the availability to certain products and/or services to you. You also authorize us to obtain consumer credit reports on you from time to time as we deem necessary for purposes of determining future credit opportunities with you and you authorize any person, association or corporation, including credit reporting agencies, to furnish upon our request, consumer reports. As required by law, you are hereby notified that a negative credit report reflecting on your credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of any credit obligation with us.

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT AND ON GOING REQUIREMENTS FOR ESTABLISHED ACCOUNTS – COMPLIANCE WITH THE USA PATRIOT ACT AND BANK SECRECY ACT: To help the government fight the funding of terrorism and money‐laundering activities, federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. This includes accounts opened as personal accounts, business accounts, trust accounts, and/or any other account type. The federal government places strict requirements on the Credit Union, mandating specific duties and obligations for us to obtain this required information from you. We are further required to obtain this information from you in order to be able to form a reasonable belief that we know your true identity which is why we will request to examine your identification documentation. Without this information we cannot open an account for you. If we later discover that the information is inaccurate or incomplete we may close your account. We may also ask for such identification to be updated periodically.

This means that when you open an account we will ask you for your name, residential street address, date of birth, social security number and other information that will allow us to identify you. We will also ask to see your driver’s license or other identifying documents and we will take copies of these documents for our records. If you refuse or cannot provide us with this information we will not open an account for you. If after your account is open we ask you for this information because we did not receive it at account opening, or we have found that the information you provided was inaccurate or incomplete, we will require you to provide us with this information. If you refuse or cannot provide us with this information we will close your account.

Federal law also requires us to understand the nature of the account activities (including the source of funds) of our members and their transactions. This means that we may periodically or on a case‐by‐case basis review and analyze your account activity. As a result, we may ask you to describe transactions or activity that appears out of the “ordinary” or normal course of business, or for which there is no apparent purpose based on our analysis of the sort of transactions or activity that you would, in our opinion, normally be expected to engage. Additionally we will require you to provide your employment and

occupation information to assist us in understanding your transaction activity. We may also, at our discretion, ask you to tell us the source of your cash deposits or the purpose of your cash withdrawals or provide us with an explanation of such activity. Because of the requirements placed on the Credit Union by federal law to operate in this manner, if you refuse or cannot provide us with, in our opinion, a reasonable explanation of the transaction(s) or activities that we ask you about, we may close your account.

BYLAW REQUIREMENTS: To join the Credit Union you must meet the membership eligibility requirements, including purchase (deposit) and maintenance of at least one (1) share of $25 as set forth in the Credit Union’s Bylaws. The shareholdings of a member who fails to complete payment of one share within 6 months of admission to membership, or of a member who reduces their share balance below $25 and does not increase the balance to at least $25 within 6 months of the reduction, may cause termination of membership.

No member may withdraw shareholdings that are pledged as required security on loans without the written approval of the loan review committee, 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 a comaker, endorser, or guarantor are delinquent, without the written approval of the loan review committee.

DESCRIPTION OF MEMBERSHIP ACCOUNT STRUCTURE: Membership account structures are established by opening a Primary Regular Share Account based on the ownership type under which you establish membership and your account(s). For example, if you establish membership as an individual, we will open a Primary Regular Share Account in your individual name, and you may open additional savings or checking accounts within that account structure as “individual” accounts. If you then wish to establish separate membership under a “joint account” arrangement, we will open a second Primary Regular Share Account as a “joint account” in your name and the name of the other joint account owner(s), and you may open additional savings or checking accounts within that account structure as “joint accounts” with the other person(s). Under the above system, you would have two different and separate account structures. Changing the ownership type on your account, for example, converting an existing account from an individual account to a joint account, will not result in the establishment of a separate account structure.

CONFIDENTIALITY AND INFORMATION SHARING: We will keep in confidence all information regarding you and your accounts(s) and transactions except where necessary in connection with the making or extending of loans, collection of loans, reporting your credit performance and/or the handling of your accounts to credit and consumer reporting agencies, when necessary to complete a transfer or transaction with a third party, in order to verify the condition or existence of your account with a third party, in order to comply with government agency or court order, or, if you give us your permission. Refer to our Privacy Policy section for complete information.

COLLECTIONS, GENERAL PLEDGE OF SHARES & STATUTORY LIEN RIGHT: You understand and agree that the Credit Union shall be entitled to collect from you, upon demand, any overdrawn balances, together with fees and charges, in any of your accounts with us (including joint accounts).

Pursuant to federal law, the Credit Union has a statutory lien right in and claim to shares and dividends equal to your total outstanding obligation to the Credit Union as that amount may vary from time to time. The Credit Union impresses its statutory lien rights upon all share accounts you have at the Credit Union, including savings, money market, checking and certificate accounts held in your name, or in your name with others, except as prohibited by law. If at any time you are in default in the performance of any obligation to the Credit Union, including loans and to the extent of your responsibility as borrower, co‐borrower, guarantor, indorser or otherwise, negative or overdrawn account balances, or in the payment of fees, charges or other items, the Credit Union may enforce its statutory lien rights against any account you maintain with us to satisfy any and all financial obligations due and payable to us. The Credit Union is not required to obtain a court judgment and may enforce its statutory lien right without further notice to you. The Credit Union shall not be liable for dishonoring any check, electronic debit, or other item drawn against any Credit Union account due to insufficient funds as a result of the Credit Union enforcing its lien rights. Should the Credit Union choose not to enforce its lien rights, the Credit Union does not waive its rights to enforce the lien at a later time. Until such time that it becomes necessary for the Credit Union to enforce its lien rights, you will retain full access to any and all shares on deposit with us that you have not specifically pledged as collateral. If any legal action is required to enforce any provision of this Agreement and Disclosure or to recover money owed by you, you agree to pay all costs, including collection costs, attorneys’ fees, court costs, and any other charges incurred.

MEMBERSHIP ELIGIBILITY BASED ON EMPLOYMENT – If you are eligible to join the Credit Union as a result of employment, you understand and agree that although your ability to join the Credit Union may be based on your place of employment, continued membership and access to Credit Union services are not employment benefits and may be provided or withdrawn by us based on Credit Union policies.

GRANT OF RESIDUALS: If you are a SAG‐AFTRA member you grant the Credit Union a consensual security interest in your Residuals and the Credit Union has the right to apply your future Residuals, without further notice to you, to any money you owe the Credit Union as a result of your failure to satisfy any outstanding obligation to the Credit Union, including but not limited to, loans and account overdrafts.

SUSPENSION OF MEMBER SERVICES: We reserve the right to suspend and deny member services, other than the right to maintain a regular share account and to vote in annual and special meetings, and may restrict your access to Credit Union premises if: (1) you cause a loss to the Credit Union; (2) you habitually mishandle your account(s); (3) you are abusive or threatening toward Credit Union employees, volunteers or members; (4) you deface, destroy, or threaten or attempt to deface or destroy, Credit Union property; (5) you do not provide satisfactory information in order for us to validate your identity or residential street address; (6) you conduct high risk transactions requiring additional reporting and/or back office support that pose a high risk to us; or (7) you have a non-natural personal account with regular and prolonged periods of excessive transactions. We further reserve the right to expel members for non-participation or cause in accordance with The Federal Credit Union Act.

MEMBERSHIP IN GOOD STANDING: All SAG‐AFTRA Federal Credit Union members must be in good standing in order to qualify for certain services and products. A member must also be in good standing in order to vote at the Credit Union’s annual meeting. To be in good standing, you must maintain a full share in the Credit Union, all of your accounts you are named to must have a positive balance, all loans must be current (if applicable), and no services or products are under suspension.

Membership Fee: A $10 membership fee will apply to new memberships with the credit union.

TYPES OF ACCOUNT OWNERSHIP AND RELATED ACCOUNT TERMS AND CONDITIONS

TYPES OF ACCOUNTS: This section describes ways title and ownership may be held on accounts at the Credit Union. With respect to all accounts, the Credit Union makes no representation regarding tax aspects or the legal implications or results of opening any particular account. Each Account Owner is solely responsible for selecting the appropriate type of account. You may wish to consult with an attorney and/or tax advisor in order to determine the advisability of establishing one type of account over another, and which form of account ownership is best for you.

"Individual Account" means an account in the name of and payable to or on the order of one Account Owner (one person) qualified for Credit Union membership. Only that person may withdraw or transfer funds or close the Account. If the Account Owner dies, the account funds pass to the Account Owner’s estate or, if designated, payable on death to the beneficiary, subject to governing law and the applicable provisions of this Agreement and Disclosure.
"Joint Tenancy (with Right of Survivorship)" means an account held in the names of and payable to or on the order of two or more Account Owners in which each Account Owner has an equal undivided ownership interest in the account during his or her lifetime. Upon the death of any Account Owner on the account, ownership of the account passes to the surviving Account Owner(s) on the account.

Each joint Account Owner, without the consent of any other Account Owner, is authorized to open additional share subaccounts (excluding loan accounts), such as a checking, savings, or share certificate account, under the joint account primary account number, make changes to the account, and to make any transaction permitted under this Agreement and Disclosure, including without limitation: (1) withdrawal or transfer of all or any part of the account funds; (2) pledging the account or funds as collateral for any obligation, whether that of one or more Account Owner or of a third party; or, (3) closing the account with disbursement of proceeds as instructed by the Account Owner. Each joint Account Owner is authorized to act for any other Account Owner(s) and we may accept orders and instructions regarding the account from any joint Account Owner. Each Account Owner is jointly and severally responsible for any and all obligations associated with any share subaccounts opened by any one joint Account Owner. If we believe there to be a dispute between joint Account Owners or we receive inconsistent instructions from the Account Owners, we may suspend or close the account, require a court order to act and/or require that all joint Account Owners agree in writing to any transaction concerning the account. Further:
- We may pay out funds or transact business pertaining to any account with the signature of any Account Owner or the signature of any designated agent. If there is more than one Account Owner, all agree with each other and with us that all sums now paid in on shares or hereafter paid in on shares by any one or all Account Owner(s) including all dividends thereon, if any, are and shall be owned by all Account Owners jointly and equally regardless of their net contributions, with a right of survivorship and shall be subject to withdrawal or receipt by any of the Account Owners or the last surviving Account Owner. Any such payment shall be valid and shall discharge the Credit Union from any liability;
- We are 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;
- No transfer of voting rights or other membership privileges is permitted by virtue of a transfer of shares;
- You understand that you are pledging any and all of the shares on deposit in the account as collateral security for any loans subject to then current loan policies. Further, a pledge of shares by any one of you shall be binding on all of you; and,
- A right of survivorship cannot be changed by will.
"Totten Trust Account" means an account establishing a revocable trust without the use of a separate written trust agreement, in the names of and payable to or on the order of the Account Owner(s). The Totten Trust is defined by this Agreement and Disclosure and the account styling. There are no trust assets other than the funds on deposit in the Totten Trust Account. The account can be set up by one or more trustees as Account Owner(s) for one or more beneficiaries. No Totten Trust account shall be opened without a beneficiary designated on the application and no beneficiary shall have any rights regarding the account, except as described in this paragraph. If more than one Account Owner is named as trustee on the account, the Credit Union shall act on the signature of any one of them, regardless of whether any other Account Owner named on the account as trustee is incapacitated or deceased and regardless of any agreement between the Account Owners to the contrary. Upon the death of the last surviving Account Owner named as trustee on the account, the Credit Union shall pay the balance in the account by check or joint check to the beneficiary or beneficiaries. The Credit Union shall not accept responsibility to act as a trustee under any circumstances and shall have no duty to monitor the account or the status of the trustee(s) or beneficiary(ies). Further:
- The Account Owner(s) declare that the account is, and any and all sums credited to such account are and shall be, held by the Account Owner(s), in trust for the Beneficiary(ies) named on the Membership Application or other designated signature card, reserving to the Account Owner(s) the right (1) to have dividends declared on the share account paid to the Account Owner(s); and (2) to revoke such trust in whole or in part, at any time or times by executing and delivering to us a request for withdrawal or pledge the whole or any part of such share account, and such trust shall be revoked as to the whole or part to which such request relates; and,
- In the event of the death of the Account Owner or, if the account is held by more than one person, the death of the last surviving Account Owner, then and only then, we shall pay such share account amount to the Beneficiary if then living (if more than one Beneficiary is designated then equally to those Beneficiaries living at the date of death of the Account Owner or the death of the last surviving Account Owner), but if there is no surviving Beneficiary, we shall pay such share account amount to the estate of the Account Owner or the estate of the last surviving Account Owner.
"Written Trust" (or documentary trust) means a revocable or irrevocable trust account established by a Settlor (also known as trustor or grantor) pursuant to a written trust agreement. For a revocable living trust at least one Settlor must be an eligible member of the Credit Union. For an irrevocable trust either all of the Settlors or all of the Beneficiaries of the trust must be eligible members of the credit union. There is no eligibility requirement for the Trustee(s). We may require a notarized trust certification or other documentary evidence satisfactory to the Credit Union of the written trust agreement’s existence, content, and confirming your power as trustee, prior to opening the account. We are not required to know, understand, interpret or enforce the terms of any trust documentation that you may provide to us.

By accepting the written trust agreement, trust certification or other documentation, the Credit Union in no way assumes any responsibility to comply with the terms of the trust agreement or any applicable court order. The Credit Union shall not accept responsibility to act as a trustee or successor trustee under any circumstances, regardless of any trust agreement provision that may provide otherwise. No trust account shall be opened without a beneficiary designated on the Membership Application or other Credit Union‐approved signature card and no beneficiary shall have any rights regarding the trust account, except as described in this paragraph. Upon the death or evidence satisfactory to the Credit Union of resignation, inability to act or incapacity of all persons named as trustee, the Credit Union shall rely upon the instructions of the successor trustee(s). The Credit Union may require a notarized trust certification or other documentation with respect to any or all successor trustee(s).

If more than one person is named as trustee on the trust account, the Credit Union shall act on the signature of any one of them, regardless of whether any other person named on the account as trustee is incapacitated, unable to act or deceased, or terms of the trust provide otherwise. The Credit Union shall have no duty to monitor the account to determine the status of the trustee or beneficiaries or whether the trustee is acting in compliance with the trust agreement or any applicable court order.
"MinorBlocked Coogan Trust Account" means an account established under California Family Code, Sections 6750‐6753. Further:
- This account is blocked. You may make deposits to this account. No withdrawals from this account will be allowed except by court order or in the manner provided for by California Family Code Section 6750‐6753;
- No VISA Debit/ATM Card will be issued on the account;
- No loans are allowed on the account;
- Only limited transfer services are available through Telephone Banking and Internet Banking Services; and,
- Funds from this account may be transferred to a Share Certificate with the Credit Union and still satisfy the California Family Code Sections 6750‐6753.
"Business OwnershipAccounts" means an account owned by an incorporated or unincorporated individual, partnership, corporation or other acceptable entity. The Account Owner(s) must provide documentary evidence to our satisfaction of the authority of the individuals who sign the Membership Application or other designated signature card to act on behalf of the business, including resolutions, agreements, and other documents as the Credit Union deems necessary. The Credit Union will not accept any business ownership account requiring two or more signatures for withdrawal. The business or all Account Owners must be within the field of membership. The Credit Union shall have no responsibility or duty to monitor such accounts, or the use of funds paid from it, nor any liability for any act or omission by any person who signs the Membership Application. Business Ownership Accounts may be established as either:
- Sole Proprietorship;
- Incorporated Individual;

By signing the Membership Application or any other designated signature card or other form provided by the Credit Union the signer warrants the following: The persons named on the Membership Application or other designated signature card are duly authorized to make this certification, certify that at a regularly held meeting the person(s) named were elected or appointed officers of said corporation or organization and that by virtue of the authority vested in you by the constitution, bylaws or otherwise, any one (1) of the signatories, as named on the Membership Application or other designated signature card, 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 Membership Application or other designated signature card 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.

Restricted Transactions ‐ The Unlawful Internet Gambling Enforcement Act (UIGEA) prohibits any person engaged in the business of betting or wagering from knowingly accepting payments in connection with the participation of another person in unlawful internet gambling. Unlawful Internet gambling means to place, receive, or otherwise knowingly transmit a bet or wager by any means which involves the use, at least in part, of the Internet where such a bet or wager is unlawful under applicable Federal or State law in the State or Tribal Lands in which the bet or wager is initiated, received, or otherwise made. As a member of SAFCU, these restricted transactions are prohibited from being processed through your account or banking relationship. When the credit union has "actual knowledge" that one of our account holders is participating in restricted transactions, the credit union may use its own judgment as to when a member would benefit from counseling or denial of access.

AUTHORIZED SIGNERS, ACCESS OPTIONS, TRANSFERABILITY, PLEDGE OF ACCOUNT, AND DEATH OF ACCOUNT OWNER

AUTHORIZED SIGNERS: The Credit Union may rely upon any signature on the Membership Application in the payment of funds and in all other transactions and instructions in connection with an account. All Account Owners agree to sign a new Membership Application upon request. The number of required signatures on a check or other withdrawal shall be no more than one (1), regardless of any separate agreement between the Account Owners, any contrary notation on the Membership Application, or any other reason. The Credit Union does not accept accounts which require the signature of more than one account owner on checks or withdrawals or other instructions. Each Account Owner shall have equal access to the account.

The use of a Personal Identification Number (PIN), password, or other authorized access device and/or security and authentication protocol by which funds in an account may be accessed by you, such as by our VISA Debit Card, Telephone Banking Service, or Internet Banking Service, shall have the same force and effect as your signature.

ACCESS OPTIONS: You may make withdrawals, deposits or transfers to or from your account(s) (as applicable and as permitted by account type and transaction limitations) by any of the following means applicable to the account: (1) by check; (2) electronic check conversion; (3) automated teller machine (ATM); (4) debit card; (5) in person; (6) by mail; (7) automatic transfer, payroll deduction or direct deposit; (8) by telephone; (9) via night or lobby branch depository; (10) telephone banking service; (11) internet banking service, or such other method as we may provide to you in the future. It may be necessary to apply for a specific service or product in order to obtain a particular access capability.

TRANSFERABILITY: Account(s) may not be transferred by any Account Owner except by a change in ownership that is reflected on the records of the Credit Union. A transfer that occurs due to death, incompetency, marriage, divorce, attachment or otherwise by operation of law, shall not be binding on the Credit Union until the Credit Union has received sufficient documentation, as determined in its discretion, and a new Membership Application has been executed.

PLEDGE OF ACCOUNT FOR LOAN COLLATERAL PURPOSES: With the exception of IRAs and any form of blocked account, shares (funds on deposit) in regular share and share certificate accounts may be pledged as collateral security for any loan, subject to our current loan policies. Any Account Owner may pledge any or all shares (funds) in a regular share or share certificate account as collateral security for a loan. Further, a pledge of shares by any one Account Owner shall be binding on all Account Owners. The pledge shall be subordinate to and subject to any right of the Credit Union to collect any debt of any Account Owner to the Credit Union from the account. The Credit Union may require any or all Account Owner(s) to execute a pledge agreement and may require that any pledge agreement be executed before a notary.

DEATH OF ACCOUNT OWNER: Each Account Owner agrees to notify the Credit Union immediately upon the death of any other Account Owner. Upon the death of the last surviving Account Owner the Credit Union will not release any further funds from any account until the Credit Union receives a certified copy of a death certificate verifying the death of the last surviving Account Owner. Upon the certification of the death of the last surviving Account Owner no further deposits will be accepted to the account, no checks will be paid on the account and the account will not be released until the Credit Union has been presented with satisfactory documentation to allow the Credit Union, in its discretion, to determine the proper distribution of the funds in the account(s) and the Credit Union has had a reasonable opportunity to act on such information.

ACCOUNT CHARGES AND FEES

There are fees and charges for services provided relating to your account(s), such as stop payment fees, fees for checks paid or returned for Non‐Sufficient Funds (NSF), and charges for personalized checks you order. There are also fees and charges relating to other products or services you may request. You agree to pay all fees and charges assessed by the Credit Union from time to time for the use of your account or other services. Please refer to our Fee Disclosure for detailed information on these fees and charges. We may debit any and all fees and charges you incur from any account you own. If there are insufficient funds available, the fees or charges are payable on demand. We reserve the right to overdraw your account to collect the fees and charges owed to us. If at any time the balance in any of your Credit Union accounts is overdrawn (has a negative balance) for any reason, you will be responsible to cover the overdraft in a timely manner. Overdrawn accounts are subject to statutory lien (see “Collections, General Pledge of Shares & Statutory Lien Right” section), collection, and/or other legal remedy.

TRUTH‐IN‐SAVINGS (TIS) DISCLOSURES

SHARE SAVINGS ACCOUNTS:

DEFINITION OF DIVIDEND RATE AND ANNUAL PERCENTAGE YIELD: If your account earns Dividends, we will provide you with the current Dividend Rate and Annual Percentage Yield at the time you open your account. The Dividend Rate is the prospective rate of earnings on an account. The Annual Percentage Yield (APY) is the percentage rate reflecting the total amount of dividends paid on an account, based on the Dividend Rate and the frequency of compounding for a 365‐day period (366 days in a leap year).

DIVIDEND RATES AND EARNING ARE BASED ON YOUR ACCOUNT BALANCE: The Dividend Rate applicable to your Savings Account depends on the

balance in the account each day.

DIVIDEND RATE AND ANNUAL PERCENTAGE YIELD: Please refer to our current Rate Sheet for the Dividend Rate(s) and Annual Percentage Yield(s) in effect for Regular Share Accounts.

HOW ARE DIVIDEND RATES CALCULATED: Dividends are earned each day on the entire balance in the account at the Dividend Rate corresponding to the “balance tier” to which your daily account balance applies. For example, if your account balance was $650.22 you would receive the Dividend Rate applicable to the “$250.00 up to $9,999.99” balance tier on the entire $650.22 balance for that day. Similarly, if your account balance was $12,233.05 the following day, you would receive the Dividend Rate applicable to the “10,000.00 ‐ $24,999.99” balance tier on the entire $12,233.05 balance for that day. Higher daily balances similarly apply to the related balance tier. Each separate "balance tier" may offer a different Dividend Rate and Annual Percentage Yield. The same Dividend Rate may also be applied to two or more balance tiers. Balance tiers are subject to change as determined by the Board of Directors or its designee.

TRANSACTION LIMITATIONS – REGULATIONS: During any monthly statement period no member may make more than a total of SIX (6) transfers from any Regular Share (savings) Account to another of their credit union accounts by means of a preauthorized electronic funds transfer, automatic transfer, overdraft protection transfer, telephone order or instruction, request received via facsimile machine, transfer initiated through our Telephone Banking Service, or electronic transfer initiated through our Internet Banking Service (cumulatively).

However, transfers to make payments on loans with the Credit Union and transfers conducted at ATMs, in person, by mail or messenger, or through a night or lobby depository are excluded from this limitation. Also excluded is any transfer into the account and requests for a withdrawal of funds by check made payable to and mailed to the member. These account limitations and restrictions are mandated by Federal law.

PRIMARY AND ADDITIONAL REGULAR SHARE SAVINGS ACCOUNTS:

Minimum Deposit and Balance Requirements: The minimum deposit required to open and maintain a Primary Regular Share Account is $25.00. There is no minimum deposit requirement to open or maintain additional Regular Share Accounts within the same account number

Primary Regular Share Savings Low Balance Fee(monthly): The fee amount is $5.00. The Low Balance Fee is waived if the average daily balance of the share account is at least $250.00 for the month OR you have an SAFCU checking account OR you have an LPL Financial account through our Financial Services Group. This fee will be charged to your Primary Regular Share Savings Account. This fee applies only to Primary Regular Share Savings Accounts and does NOT apply to Additional Regular Share Savings Accounts (within the same account number) or Coogan or Minor Blocked Share Savings Accounts or Health Savings Accounts.

Paper Statement Fee: The fee amount is $3.00. The fee is waived if your average monthly balance is $2,500.00 or higher OR you have an additional SAFCU

account, loan product, LPL account, or signed up with eStatements. Fee is waived for any share account signer 62 years or older.

Minimum Balance Required to Earn Dividends: A $250.00 minimum daily balance is required to earn dividends on all Regular Share Savings Accounts. If on any day your balance is less than $250.00 you will not earn dividends for that day.

BALANCE TIERS:

$ 25.00 ‐ $ 249.99

$ 250.00 ‐ $ 9,999.99

$ 10,000.00 ‐ $24,999.99

$ 25,000.00 ‐ $49,999.99

$ 50,000.00 ‐ $99,999.99

$100,000.00 and Over

Dividends and Variable Rate Information: Regular Share Savings accounts are variable rate accounts and the Dividend Rate and Annual Percentage Yield applicable to each “balance tier” may change monthly as determined by the Credit Union’s Board of Directors, or its designee, without prior notice to you. However, the Credit Union reserves the right to change Dividend Rates at any time. There is no limit on how much the Dividend Rate can change each month. Your account statement will reflect the Dividend Rate and corresponding Annual Percentage Yield, as well as the Annual Percentage Yield Earned and the dividends paid each statement period.

Dividend Periods are monthly. For example, the beginning date of the first Dividend Period of the calendar year is January 1 and the ending date is January 31. All other Dividend Periods follow the same monthly pattern of dates. The dividend declaration (payment) date follows the ending date of each Dividend Period, which is the last day of the month (and for the example, would be January 31). Dividends are paid from current income and available earnings, after required transfers to reserves have been made by the Credit Union at the end of each Dividend Period.

Dividends are credited and compounded monthly on the last day of each month. The Credit Union uses the daily balance method of computing dividends, which applies a periodic rate to the entire balance in the account each day. Dividends begin to accrue from the date of deposit of all cash and non‐cash items. If you close/convert your account at any time during the month before dividends are paid/credited (prior to the end of a Dividend Period), we will not pay you any accrued dividends.

IRA SHARE SAVINGS AND COOGAN SHARE SAVINGS SHARE SAVINGS ACCOUNTS:

Minimum Deposit and Balance Requirements: The minimum deposit required to open and maintain an IRA Savings or Coogan Share Savings Account is

$25.00. There is no minimum balance requirement to maintain the account.

Dividend Rate and Annual Percentage Yield: Please refer to our current Rate Sheet for the Dividend Rate(s) and Annual Percentage Yield(s) in effect for IRA, Coogan and Younger Performer Share Savings Accounts.

BALANCE TIERS:

$ 25.00 ‐ $ 9,999.99

$ 10,000.00 ‐ $24,999.99

$ 25,000.00 ‐ $49,999.99

$ 50,000.00 ‐ $99,999.99

$100,000.00 and Over

Dividends and Variable Rate Information: IRA and Coogan Share Savings Accounts are variable rate accounts and the Dividend Rate and Annual Percentage Yield applicable to each “balance tier” may change monthly as determined by the Credit Union’s Board of Directors, or its designee, without prior notice to you. However, the Credit Union reserves the right to change Dividend Rates at any time. There is no limit on how much the Dividend Rate can change each month. Your account statement will reflect the Dividend Rate and corresponding Annual Percentage Yield, as well as the Annual Percentage Yield Earned and the dividends paid each statement period.

IRA Annual Fee: A $25 annual fee will be assessed on IRA share accounts.

IRA Share Savings Accounts: The above “IRA SHARE SAVINGS ACCOUNTS” disclosures apply to Traditional and Roth Individual Retirement Accounts (IRAs) except as may conflict with applicable Internal Revenue Service law and regulation, together with the Credit Union Traditional and ROTH IRA Custodial Agreement and Disclosure Statement.

SHARE CERTIFICATE ACCOUNTS:

Dividend Rate and Annual Percentage Yield: The Dividend Rate and corresponding Annual Percentage Yield on Share Certificate Accounts are fixed for the Certificate Term. Please refer to your Share Certificate Account Agreement for the Dividend Rate and Annual Percentage Yield (APY) applicable to your Share Certificate Account. The Dividend Rate is the prospective rate of earnings on an account. The Annual Percentage Yield (APY) is the percentage rate reflecting the total amount of dividends paid on an account, based on the Dividend Rate and the frequency of compounding for a 365‐day period (366 days in a leap year). The Annual Percentage Yield on Share Certificate Accounts assumes dividends will remain on deposit until maturity. Any distribution or withdrawal of dividends will reduce earnings.

Dividends: Share Certificate Account dividend periods are monthly. For example, the beginning date of the first dividend period of the calendar year is January 1 and the ending date is January 31. All other dividend periods follow the same monthly pattern of dates. The Dividend Declaration Date (the date in which dividends are credited or paid) follows the ending date of a dividend period, is the last day of each month, and for the example is January 31st. Dividends are earned daily and are credited and compounded monthly on the last day of each month. If you have elected to receive distribution of your dividends monthly, your Share Certificate Account dividends will not be compounded. Dividends are calculated using the Daily Balance Method which applies a daily periodic rate to the entire balance in the account each day. Dividends begin to accrue from the date of deposit of all cash and/or non‐cash item(s), and continue to accrue and be paid until the maturity date.

Minimum Deposit and Balance Requirement: The Minimum Deposit and Balance required to open and maintain a regular Share Certificate Account is set at four distinct levels: $1,000.00, $10,000.00, $25,000.00, and $50,000.00 you must maintain the required Minimum Deposit and Balance each day in order to obtain the disclosed Annual Percentage Yield. The Annual Percentage Yield assumes that dividends remain on deposit in the certificate to compound monthly until maturity. Special Certificate Account programs may be offered by the Credit Union from time to time which may require a different initial deposit and/or minimum balance. Please consult the Credit Union's current Rate Sheet or contact the Credit Union for minimum deposit and balance requirements. If any withdrawal or early withdrawal penalty reduce the Share Certificate balance below the Minimum Deposit and Balance Requirement, the Share Certificate Account will be cancelled and closed.

Maturity and Automatic Renewal: We will mail you notification of the maturity of your Share Certificate Account thirty (30) calendar days in advance of the maturity date. If you have elected “Automatic Renewal” and we do not hear from you otherwise, your Share Certificate will automatically renew on the maturity date at its current Term and Minimum Deposit and Balance Requirement level, bearing the Dividend Rate and Annual Percentage Yield for that Term then in effect by us on the date of automatic renewal (the end of business on the maturity date). If the current Term for your Share Certificate is discontinued or is otherwise unavailable at maturity, we will renew your Share Certificate at a Term then available that is nearest to that of the maturing certificate. We will send you a new Share Certificate Account Agreement for each automatic renewal. Your Share Certificate Account will automatically renew as stated above unless you notify us otherwise during the Grace Period (see below). If you have not elected “Automatic Renewal”, your Share Certificate will discontinue earning dividends on the maturity date and the funds will be deposited to your Regular Share Account, after which dividends will be earned at the Dividend Rate paid on funds on deposit in your Regular Share Account. Share Certificates pledged as loan collateral do not automatically renew.

Grace Period: If your Share Certificate automatically renews (see “Maturity and Automatic Renewal” above), there is a seven (7) calendar day Grace Period following the date of the Share Certificate renewal during which you can make changes to your Share Certificate without penalty. Such changes include increasing or decreasing the principal balance, changing the Term, or canceling the renewal altogether. Any contributions or distributions you wish to make to an IRA Share Certificate Account may require you to complete other documentation.

Withdrawals: Partial withdrawals are permitted during the Term of the Share Certificate Account. The minimum withdrawal amount is $1,000. An Early

Withdrawal Penalty will apply (see below).

Early Withdrawal Penalty: If you withdraw funds from your Share Certificate Account prior to the stated maturity date or if you request us to make a change to any term of your Share Certificate following the Grace Period renewal we may assess an early withdrawal penalty as follows:

Certificates with a Maturity of One Year or Less – The early withdrawal penalty consists of 90 day’s dividends which have, or would have been earned on the amount withdrawn, whether the funds have remained on deposit for that period. If the funds have not remained on deposit for 90 days at the time of withdrawal, the early withdrawal penalty may exceed the actual dividends earned and could result in a further reduction of the principal balance of your Share Certificate.

Certificates with a Maturity of More than One Year – The early withdrawal penalty consists of 180 day’s dividends which have, or would have been earned on the amount withdrawn, whether the funds have remained on deposit for that period. If the funds have not remained on deposit for 180 days at the time of withdrawal, the early withdrawal penalty may exceed the actual dividends earned and could result in a further reduction of the principal balance of your Share Certificate.

The Early Withdrawal Penalty will not apply if: (1) the withdrawal is made subsequent to the death of any Account Owner; (2) the withdrawal is made as part of an eligible distribution under an IRA Share Certificate Account or, (3) the withdrawal is made as a result of the voluntary or involuntary liquidation of the Credit Union.

If any partial withdrawal or early withdrawal penalty reduce the Share Certificate balance below the Minimum Deposit and Balance Requirement, the Share Certificate Account will be cancelled and closed and the penalty will apply to the entire balance.

Share Certificate Account Closure: If your Share Certificate is closed prior to maturity for any reason, any accrued dividends will be paid from the date of the end of the last dividend period to the date of account closure prior to the assessment of any early withdrawal penalty.

Security Collateral and Pledge of Shares: With the exception of IRA Share Certificate Accounts, funds in Share Certificate Accounts may be used as collateral security for a certificate‐secured loan. You may pledge any or all of the shares from your Share Certificate Account as collateral security on any loan, subject to our current loan policies. Further, a pledge of shares by any one of you shall be binding on all of you. Share Certificate Account funds (other than IRA Certificate Accounts) are subject to the general pledge of Credit Union shares included in Credit Union documents, the provisions of the Credit Union Bylaws, and the Federal Credit Union Act regarding the Credit Union's ability to impress a lien upon shares (funds) as security for loan obligations. Any indebtedness now or hereafter owed to the Credit Union either individually or jointly, may be charged to any Share Certificate Account in the name of the Account Owner or in the name of the Account Owner and another or others.

IRA Share Certificate Accounts: The above “SHARE CERTIFICATE ACCOUNTS” disclosures also apply to Traditional and Roth Individual Retirement Accounts (IRAs) that are Share Certificate Accounts, except as may conflict with applicable Internal Revenue Service law and regulation, together with the Credit Union Traditional and ROTH IRA Custodial Agreement and Disclosure Statement.

HEALTH SAVINGS ACCOUNTS:

General: Health Savings Accounts provide check‐writing capabilities and are designed specifically for individuals with High‐Deductible Health Plans to allow you to save and pay qualified medical and health expenses with pre‐tax dollars, giving you more control over health care spending while taking advantage of tax benefits.

Minimum Deposit and Balance Requirements: There is a $25 minimum deposit required to open a Health Savings Account. There is no minimum balance requirement to maintain the account.

Minimum Balance Required to Earn Dividends: There is no minimum balance requirement to earn dividends on a Health Savings Account.

Dividend Rate and Annual Percentage Yield: Please refer to our current Rate Sheet for the Dividend Rate and Annual Percentage Yield in effect for Health Savings Accounts.

Dividends and Variable Rate Information: Health Savings Accounts are variable rate accounts and the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union’s Board of Directors, or its designee, without prior notice to you. However, the Credit Union reserves the right to change Dividend Rates at any time. There is no limit on how much the Dividend Rate can change each month. Your account statement will reflect the Dividend Rate and corresponding Annual Percentage Yield, as well as the Annual Percentage Yield Earned and the dividends paid each statement period.

Access Options: Health Savings Accounts can be accessed via check, our Bill Pay service and over‐the‐counter transactions. ATM and Visa Debit Cards are not available on Health Savings Accounts.

Other Terms and Conditions: Health Savings Accounts are also governed by the Credit Union HSA Custodial Agreement and Disclosure Statement which is provided to you when you open a Health Savings Account.

MONEY MARKET SAVINGS ACCOUNTS:

General: The Money Market Savings Account combines the features of a savings account to earn dividends, with limited check writing capabilities. Dividends are earned on the entire account balance each day, and you need only maintain a daily balance of $2,500 in the account to avoid a monthly low balance fee. Check writing capabilities are limited to three checks per month.

Dividend Rate and Annual Percentage Yield: Please refer to the Rate Sheet for the current Dividend Rates and Annual Percentage Yields in effect for Money Market Savings Accounts. The current rate sheets can be obtained by calling or visiting the credit union or by visiting the website at www.sagaftrafcu.org.

Minimum Deposit and Balance Requirements: The minimum deposit required to open a Money Market Account is $2,500.00. A low balance fee of $10.00 per month is assessed if the balance drops below $2,500.00 at any time during the month.

Minimum Balance Requirement to Earn Dividends: There is no minimum balance requirement to earn dividends on the Money Market Savings Account.

Dividends and Variable Rate Information: The Money Market Savings Account is a variable rate Account and the Dividend Rate and Annual Percentage Yield applicable to each "balance tier" can change weekly as determined by the Credit Union’s Board of Directors, or its designees, without prior notice to you. Your Account statement will reflect the Annual Percentage Yield Earned and the dividends paid on your Money Market Savings Account each statement period.

Money Market Savings Account Dividend Periods are monthly. For example, the beginning date of the first dividend period of the calendar year is January 1 and the ending date is January 31. All other dividend periods follow the same monthly pattern of dates. The dividend declaration (payment) date follows the ending date of each dividend period and is the last day of the month (and for the example, would be January 31). Dividends are paid from current income and available earnings, after required transfers to reserves have been made by the Credit Union at the end of each dividend period.

Dividends are earned daily and are credited and compounded monthly on the last day of each month. The Credit Union uses the daily balance method of computing dividends, which applies a periodic rate to the entire balance in the Account each day. Dividends begin to accrue from the date of deposit of all cash and non‐cash items and continue to accrue until the day the funds are withdrawn. Dividends are paid in whole cents. If you close/convert your Account at any time during the month we will pay you any earned dividends up to the date of Account closure.

Dividend Rates Are Based On Your Account Balance: The Dividend Rate applicable to your Money Market Savings Account depends on the balance in the

Account each day. The Credit Union has established "balance tiers", which consist of six separate ranges of balances. The Balance Tiers are:

$ .01 ‐ $ 2,499.99

$ 2,500.00 ‐ $24,999.99

$ 25,000.00 ‐ $49,999.99

$ 50,000.00 ‐ $74,999.99

$ 75,000.00 ‐ $99,999.99

$100,000.00 and Over

Dividends are earned each day on the entire balance in the Account at the Dividend Rate corresponding to the "balance tier" to which your daily Account balance applies. For example, if your Account balance was $12,500.00 you would receive the Dividend Rate applicable to the "$2,500.00 ‐ $24,999.99" balance tier on the entire $12,500.00 balance for that day. Similarly, if your Account balance was $1,950.00 the following day, you would receive the Dividend Rate applicable to the “$ .01 ‐ $2,499.99" balance tier on the entire $1,950.00 balance for that day. The same methodology follows for balances between $25,000.00 ‐ $49,999.99, balances between $50,000.00 ‐ $74,999.99, balances between $75,000.00 and $99,999.99, and balances of $100,000.00 and over. Each separate "balance tier" may offer a different Dividend Rate and Annual Percentage Yield. The same Dividend Rate may also be applied to two or more balance tiers. Balance tiers are subject to change as determined by the Board of Directors or its designee.

Excessive Transaction Fee: We understand that there may be instances in which you inadvertently initiate a transaction or write a check (or a check you have written clears) against your Money Market Savings Account in excess of the three checks/drafts/ACH debits per statement period “Transaction Limitations” as set forth above. In these instances, and solely at the discretion of the Credit Union, we may honor the transaction by paying the check, draft or ACH debit. If we honor any such transaction, we will charge you a fee of $10.00 for each item paid.

If you exceed the Money Market Savings Account three checks/drafts/ACH debits per statement period transaction limitation as set forth above on more than an inadvertent and occasional basis (as determined solely by the Credit Union), we reserve the right to convert your Money Market Account to a Checking Account. If you already maintain a Checking Account we will transfer the remaining funds into that account and close your Money Market Savings Account.

Low Balance Fee ($2,500 Minimum Balance Requirement): You must maintain a minimum actual daily balance of at least $2,500.00 in the Money Market Savings Account to avoid the assessment of a Low Balance Fee. If, on any day during the statement period, your Account balance falls below $2,500.00, your Account will be assessed a $10.00 Low Balance Fee for that period. This fee is charged to your Money Market Savings Account.

Other Fees and Charges: In addition to the Low Balance Fee, other fees and charges may be assessed against your Money Market Savings Account. Fees and charges for special services, such as stop payment fees, fees for checks returned unpaid, and fees for copies of checks, may also be imposed in connection with your Account. You agree to pay all fees and charges assessed by the Credit Union in connection with the Money Market Savings Account. You acknowledge receipt of the current Fee Disclosure, and that the Fee Disclosure and any subsequent amendments thereto, are considered part of this Agreement. Please refer to the Fee Disclosure for the most current fee information.

Other Account Restrictions:

(1) There is no access to the Money Market Savings Account at ATMs at this time;

(2) There is no overdraft protection to or from the Money Market Savings Account;

(3) The Credit Union’s Courtesy Pay Program is not available on the Money Market Savings Account;

(4) Electronic Bill Pay payments cannot be made directly from the Money Market Savings Account; and,

(5) Debit Card (POS) transactions cannot be charged/debited directly to the Money Market Savings Account.

CHECKING ACCOUNTS:

PERFORMANCE CHECKING ACCOUNT:

Minimum Deposit and Balance Requirements: There is a $25.00 minimum deposit required to open the Performance Checking Account. There is no minimum balance requirement to maintain the Performance Checking Account.

Minimum Balance Required to Earn Dividends: You must maintain a minimum average daily balance of $1,000.00 each statement period to earn dividends on the Performance Checking Account and obtain the disclosed Annual Percentage Yield.

Dividend Rate and Annual Percentage Yield: Please refer to our current Rate Sheet for the Dividend Rate and Annual Percentage Yield in effect for the Performance Checking Account.

Monthly Service Charges and Ways to Avoid the Monthly Service Charge: There is a monthly service charge of $7.95on the Performance Checking Account. The monthly service charge is waived if you maintain an average daily balance of $1,000.00 in the account for the month, OR if you maintain an average daily balance of $250.00 in the account for the month AND you are either enrolled in our eStatement Service or receive a monthly electronic Direct Deposit to the account for the monthly statement period.

Dividends and Variable Rate Information: Performance Checking Accounts are variable rate accounts and the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union’s Board of Directors, or its designee, without prior notice to you. However, the Credit Union reserves the right to change Dividend Rates at any time. There is no limit on how much the Dividend Rate can change each month. Your account statement will reflect the Dividend Rate and corresponding Annual Percentage Yield, as well as the Annual Percentage Yield Earned and the dividends paid each statement period.

Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for the statement period. The average daily balance is calculated by adding the balance in the account for each day of the statement period and dividing that figure by the number of days in the period. Dividends begin to accrue from the date of deposit of all cash and non‐cash items. If you close/convert your account at any time during the month before dividends are paid/credited (prior to the end of a Dividend Period), we will not pay you any accrued dividends.

eChecking ACCOUNT:

Account Requirements: You must be enrolled in eStatements, and constantly maintain a valid email address as all correspondence, periodic statements, and disclosures will be sent to your email address. A failure to maintain a valid email address will result in a conversion of your eChecking account to a Performance checking account as a result of not meeting the account requirements for an eChecking1.

Minimum Deposit and Balance Requirements: There is a $25.00 minimum deposit required to open the eChecking Checking Account. There is no minimum balance requirement to maintain the eChecking Account.

Minimum Balance Required to Earn Dividends: The eChecking account does not earn dividends.

Monthly Service Charges and Ways to Avoid the Monthly Service Charge: The eChecking Account does not have a monthly service charge.

Notable Account Limitations and Fees:

Non‐SAFCU ATM Deposits – Four (4) free deposits per monthly statement cycle, $2.00 each deposit made thereafter.
Check Writing Fee – Five (5) free written checks per monthly statement cycle, .50 cents each check written thereafter.
Bad Email (Returned Email) Fee ‐ $2.95

1 A 30‐day notice will be sent to the mailing address on file requiring updated contact information. A failure to update the contact information within the 30 days will result in a conversion from the eChecking to a Performance Checking.

SENIOR CHECKING ACCOUNT:

Account Requirements: (1) You must have a monthly direct deposit originating from the Social Security Administration or a Pension Plan AND (2) at least one, the primary or joint account owner, must be at least 62 years or older. A failure to maintain a monthly direct deposit will result in a conversion of your Senior Checking account to a Performance checking account as a result of not meeting the account requirements for a Senior Checking3.

Minimum Deposit and Balance Requirements: There is a $25.00 minimum deposit required to open the Senior Checking Account. There is no minimum balance requirement to maintain the Senior Account.

Minimum Balance Required to Earn Dividends: The Senior Checking account does not earn dividends.

Monthly Service Charges and Ways to Avoid the Monthly Service Charge: The Senior Checking Account does not have a monthly service charge.

Notable Account Limitations and Fees:

Non‐SAFCU ATM Deposits – Four (4) free deposits per monthly statement cycle, $2.00 each deposit made thereafter.
Check Writing Fee – Ten (10) free written checks per monthly statement cycle, .50 cents each check written thereafter.

TEEN PERFORMER CHECKING ACCOUNT:

Minimum Deposit and Balance Requirements: There is a $25.00 minimum deposit required to open a Teen Performer Checking Account. There is no minimum balance requirement to maintain the Teen Performer Checking Account.

Minimum Balance Required to Earn Dividends: The Teen Performer account does not earn dividends.

Monthly Service Charges and Ways to Avoid the Monthly Service Charge: There is no monthly service charge on the Teen Performer Checking Account.

TEEN PERFORMER CHECKING ACCOUNT

This section sets forth the terms and conditions of the Teen Performer Checking Account. The Teen Performer product is intended to serve as a vehicle for adults to manage the financial affairs of young performers (minors). The Teen Performer Account can be opened and are available for use during the performer’s adolescent years. Once the young performer reaches the age of 18 you will be notified and to convert the Teen Performer Checking account to any one of our other accounts intended for adults. If the account is not converted within 45 days of the notice, the account will automatically be converted. The Teen Performer accounts will be converted to an eChecking account.

Who Can Open and Request Services on These Accounts: Teen Performer Account can only be opened by request of an adult (a person 18 years of age or older) who is the parent or legal guardian of the minor, and who will also be a Joint Account Owner on the account(s) (referred to herein, as the “adult Joint Account Owner”). Similarly, only the adult Joint Account Owner may request a Visa Debit/ATM Card or other services on these accounts. To open a Teen Performer Account, the minor must be at least 12 years of age.

Account Owner’s Liability – Important Information: The Teen Performer Account are NOT blocked accounts. By opening a Teen Performer Checking Account the adult Joint Account Owner understands that he or she is responsible for any and all activity on the Account(s) and use of the Account(s) and agrees to indemnify and hold SAG‐AFTRA Federal Credit Union harmless from and against any and all losses and/or liability arising from any transaction and/or use of the Visa Debit Card on the Teen Performer Account by the minor, except as prohibited by law.

Nature of Account: When you open a Teen Performer Checking Account, you are requesting that we open the account on your behalf. At the time of account opening we will also open a regular share account to satisfy credit union membership. (Refer to the PRIMARY AND ADDITONAL REGULAR SHARE SAVINGS ACCOUNTS section for additional information on regular share accounts.) Share Certificates are also available under this account type. Teen Performer Accounts are established as Joint Tenancy ownership, with the name of the minor appearing first. All dividends earned on the account are reported under the minor’s Social Security Number or Taxpayer Identification Number. The adult Joint Account Owner serves as the second Joint Account Owner on the account. Teen Performer Account may also be established under an Incorporated Individual ownership, provided the Authorized Signer is an adult (a person 18 years of age or older). If the account is established as an Incorporated Individual account, it will not be a Joint Tenancy ownership account. To be eligible for a Teen Performer Account the minor Joint Account Owner must be at least 12 years of age. When requested by the adult Joint Account Owner and upon our approval, we will open a Teen Performer Account on behalf of the minor Joint Account Owner.

Visa Debit/ATM Cards: Visa Debit/ATM Cards are available on Teen Performer Checking Accounts and can only be issued to the adult Joint Account Owner..

The minor can access the Teen Performer Account funds in the following manner:

In Person: The minor can access the account to make deposits or withdrawals in person at any one of our branch locations when the minor presents valid identification or is accompanied by the adult Joint Account Owner.

3 A notice will be generated and sent to the mailing address on file at the end of the statement cycle. A failure to establish/re‐establish direct deposit by the end of the following month’s statement cycle will result in a conversion from the Senior Checking to a Performance Checking.

Visa Debit/ATM Card: Upon the adult Joint Account Owner’s request and our approval, minors 12‐18 years of age will be issued a Visa Debit/ATM Card. The Visa Debit/ATM Card has a combined daily limit for purchases (POS transactions) and ATM cash withdrawals of $2,550.00, of which the maximum daily ATM cash withdrawal limit is $500.00; including any transaction fees and service charges, regardless of whether you use your PIN or your signature to authenticate the transaction. Other terms, conditions and disclosures applicable to Visa Debit Cards are set out in our Visa Debit/ATM Card Agreement and Disclosure and are incorporated herein by this reference.

ADDITIONAL TERMS AND CONDITIONS ON CHECKING ACCOUNTS,

MONEY MARKET SAVINGS ACCOUNTS AND HEALTH SAVINGS ACCOUNTS

SAG‐AFTRA Federal Credit Union offers Checking Accounts, Money Market Savings Accounts and Health Savings Accounts that provide check‐writing privileges. For purpose of this specific section, the word “Account” shall apply to Checking Accounts, Money Market Savings Accounts and Health Savings Accounts.

You authorize us to recognize any of the signatures subscribed to the Membership Application or other designated signature card for the payment of funds or the transaction of any business for the Account.
Only SAG‐AFTRA Federal Credit Union checks or other instruments or methods approved by us may be used to withdraw or transfer funds from your Account.
Except for negligence, we are not liable for any action we take regarding the payment or non‐payment of any item drawn against the Account.
You should write the current date on checks you issue. However, regardless of the date on a check you have written, we may pay it whenever it is presented for payment. The Credit Union may, at its option, but is under no obligation to you to pay any check drawn on your Account which is presented before its date, or more than six months after its date. The Credit Union shall not be liable for honoring or failing to honor any stale dated or post dated check, or conditionally endorsed check. The Credit Union may charge your Account as of the date the Credit Union pays the item. If you do not wish a check to be paid, you must place a Stop Payment on the check.
All requests that payment of a check be stopped must be provided to us in such form as we may require as permitted by law. A fee may be charged in accordance with our Fee Disclosure.
We will charge your Account for check printing costs at the time the charge is received from the printer. If there are not sufficient funds in the account, we may charge any other share account held by any of the named Account Owner(s) of the Account.
You understand and agree that all paid checks on your Account are the property of the Credit Union and will not be returned with your periodic statement. Copies of paid checks may also be viewed at no cost by using our Internet Banking Service.
You shall be liable for any and all charges and fees we may impose for returned items written against insufficient or non‐sufficient funds, uncollected funds, closed account, returned deposited items and for any other service in accordance with our Fee Disclosure.
We are authorized to deduct any account charge or fee from your Account or any other of your Share accounts without prior notice to you. Please refer to our Fee Disclosure for all fees and charges that apply to the Accounts.
The Credit Union may pay and charge to your Account, any check, paper draft, electronic debit or other item drawn by and payable to any person, organization, association or corporation that you have authorized by the provision of the MICR encoding information on your personal checks. You agree that the Credit Union's rights in respect to such checks shall be the same as if it were a check drawn and signed by you personally and that the Credit Union shall be fully protected in honoring any such check. It is further agreed that if any such check is dishonored, whether with or without cause, and whether intentionally or inadvertently, the Credit Union shall be under no obligation whatsoever, even though such dishonor results in the forfeit of insurance or loss or damage of any kind.
ELECTRONIC CHECK / DRAFT CONVERSION: You may authorize a merchant or other payee to make a one‐time electronic payment from your checking account using information from your check to pay for purchases and to pay bills. This is referred to as an Electronic Check Conversion. When you provide information on your personal check (such as the MICR encoded routing, account and serial numbers) to a merchant or other payee, regardless of whether the check is in blank, partially completed, or fully completed and signed, and regardless of whether the check is presented in person or mailed to the merchant or other payee or sent to a lockbox or whether the check is retained by the merchant or other payee or returned to you, if the information from that check is converted to an electronic funds transfer (or “EFT”) to debit the funds from your account, that electronic fund transfer is covered under the provisions and protections of the Electronic Fund Transfers Act. Merchants who make use of electronic check conversion are required to notify you of their intention to do so at the time you give them your check. When we receive these items in electronic form, we will debit them against your account the same as if we had received the actual paper check.
SUBSTITUTE CHECKS: A substitute check is an electronic image of the original paper check or draft. The check image is then electronically transferred for collection purposes. These electronic images are known as “substitute checks”. The electronic conversion from paper to “substitute check” permits quicker processing of checks by sending them electronically from financial institution to financial institution for collection. This means that substitute checks will clear faster than did your paper checks or drafts. We accept and process incoming substitute checks to your account, and generate substitute checks from original paper checks and drafts for outgoing collection. This means that checks that you write and checks that you deposit may be converted to substitute checks.

NSF RETURNED ITEM AND OVERDRAFT ITEM PAYMENT

This NSF Returned Item and Overdraft Item Payment section sets forth SAG‐AFTRA Federal Credit Union’s Returned Item and Overdraft Item Payment policies, procedures and services and supersedes any SAG‐AFTRA Federal Credit Union agreement and disclosure pertaining to these matters and is the governing agreement until further notice. “You” means each member account owner and/or legal or authorized signer on the account.

General: The Credit Union may receive items (“items” means paper checks, electronic checks [electronic check conversions and/or substitute checks], electronic ACH debits, preauthorized automatic internal loan payment, or Bill Pay payment) payable against your SAFCU Checking Account which are drawn or payable against non‐ sufficient funds, uncollected funds, or unavailable funds (collectively referred to herein as “NSF items”). The Credit Union may also receive merchant requests for authorization to pay Visa Debit Card purchase or payment transactions or receive the actual Visa Debit Card debit transaction payable against non‐sufficient funds, uncollected funds, or unavailable funds (collectively referred to herein as “NSF Visa Debit Card transactions”). The Credit Union may return such NSF items and NSF Visa Debit Card transactions unpaid and charge you a fee, or the Credit Union may pay NSF items and NSF Visa Debit Card transactions and charge you a fee, depending on this agreement and disclosure, any overdraft product or service you may have with us, or your written authorization and instruction to us as reflected on our Returned Item and Overdraft Item Payment Selection & Consent Form, initialed and signed by you.

Other Accounts: If any NSF item is presented against any other of your Credit Union accounts that provide check writing services, such as the Money Market Account or Health Savings Account the item will be returned unpaid by the Credit Union and we will charge you a fee. Visa Debit Card transactions cannot be performed on Money Market Accounts or Health Savings Accounts.

Our Policy on Returning and Paying Items: Our policy is to return all NSF items and NSF Visa Debit Card transactions unpaid on your Checking Account and charge you a fee. This means that we do not automatically pay these items. However, and in this order:

If you qualify and are approved for our Overdraft Protection Line of Credit, and if the line of credit has been established on your account, you are in good standing and there is sufficient credit/funds available on your Overdraft Protection Line of Credit to cover the amount of the item, we will transfer funds from your Overdraft Protection Line of Credit to cover the amount of the NSF item or NSF Visa Debit Card transaction and pay the item. This overdraft protection transfer of funds from your Overdraft Protection Line of Credit supersedes, preempts and overrides any contrary selection on your Returned Item and Overdraft Payment Item Selection & Consent Form.

If you give us your written authorization and if you have sufficient collected and available funds in your Primary Regular Share Savings Account, we will transfer funds from your Primary Regular Share Savings Account to your Checking Account to cover the amount of the NSF item or NSF Visa Debit Card transaction and we will pay the item and charge you a fee for this service. This is referred to as Overdraft Protection Transfer From Share.

If you give us your written authorization and you qualify for our Overdraft Item Payment – Courtesy Pay program, we will pay the NSF item or NSF Visa Debit

Card transaction, charge you a fee for this service, and overdraw your account to pay the item and the fee.

Fees and Charges:

NSF Item Paid – Courtesy Pay (each item) - $25.00
NSF Returned Item Unpaid* - $30.00
Overdraft Protection Transfer from Share (each transfer) - $3.00
Overdraft Transfer Fee from Line of Credit (system generated – each transfer) - $5.00
Debit Card NSF Decline Fee (per transaction) - $10.00

Your Written Authorization and Instruction: We require that you complete, initial and sign our Returned Item and Overdraft Item Payment Selection & Consent Form to authorize and instruct us as to how you want us to handle your NSF items and NSF Visa Debit Card transactions. Members may select from Option One “Do NOT Pay Items on My Account Drawn Against Non‐Sufficient or Uncollected Funds”, or Option Two “Pay Items on My Account Drawn Against Non‐Sufficient or Uncollected Funds”. Members can also instruct us to pay NSF Visa Debit Card transactions that may overdraw their Checking Account by initialing the Debit Card Opt‐In section. Your authorization to pay NSF Visa Debit Card transactions will overdraw your account if paid through our Overdraft Item Payment – Courtesy Pay program. Because you have the right to revoke this consent, you can also instruct us not to pay NSF Visa Debit Card transactions that would overdraw your account. The written authorization and instruction of any one account owner or legal or authorized signatory on the account shall constitute binding consent and authorization for us to comply with the Returned Item and Overdraft Item Payment Selection & Consent selection(s) regardless of whether the account has multiple account owners or signers.

If you do not provide us with your authorization and instruction, or if we are not able to honor your authorization and instruction to pay NSF items or NSF Visa Debit Card transactions because another agreement we have with you preempts this instruction, if you do not have sufficient funds or available credit to cover the NSF item or NSF Visa Debit Card transaction, or if you are no longer in good standing with us, we will return the NSF item or NSF Visa Debit Card transaction unpaid and charge you a fee for this service.

Overdraft Protection Transfer Amount: Any overdraft protection transfer from your Overdraft Protection Line of Credit or Overdraft Protection Transfer by Transfer from Share will be in the amount necessary to cover the amount of the item and any applicable fee. Overdraft protection transfers are conducted on a per transaction basis.

Determination of Account Balance: A determination of your Checking Account balance for purposes of making a decision whether to dishonor and return unpaid any NSF item or NSF Visa Debit Card transaction for insufficiency of available funds may be made at any time between presentation and the Credit Union’s return deadline, with only one review of the checking account balance being required.

Funds from Direct Deposits of Governmental Benefits: We may transfer funds from your Primary Regular Share Savings Account or from another of your accounts in connection with these overdraft protection procedures, regardless of the original source of the funds or subsequent deposits, including but not limited to direct deposits of Social Security and Supplemental Security Income governmental benefits, except as prohibited by law.

Notification: We are not obligated to notify you before we decide to either pay an NSF item or NSF Visa Debit Card transaction that creates an overdraft or to return an item drawn against insufficient or unavailable/uncollected funds. We reserve the right to refuse to pay any item against your Checking Account if it would create an overdraft in the account, even though we may have previously established a pattern of honoring such items.

Monthly Limit on Overdraft Protection Transfers from Regular Share Savings Accounts: Overdraft protection transfers from Regular Share Savings Accounts are limited to a combined maximum of six(6) per calendar month (including preauthorized electronic funds transfers and transfers initiated via our telephone banking and Internet banking services).

Excessive NSF Items: The Credit Union reserves the right to close any account due to, in our opinion, excessive NSF items or excessive NSF Visa Debit Card transactions.

Overdraft Item Payment‐ Courtesy Pay Program: Overdraft Item Payment ‐ Courtesy Pay (“Courtesy Pay”) is a program whereby the Credit Union may honor and pay NSF items and Visa Debit Card transactions (you must specifically authorize us in writing to pay NSF Visa Debit Card transactions) drawn against non‐sufficient funds, or uncollected funds or unavailable funds in your Checking Account so that these items are not returned unpaid. Courtesy Pay is ONLY available on regular checking account products and is not available on Money Market Accounts, Health Savings Account, Teen Performer Accounts or any other Credit Union account.

The Overdraft Item Payment ‐ Courtesy Pay program is made available only to members in good standing, meeting specific qualifying criteria. Not all members may qualify. Not all members may qualify at all times. The Credit Union reserves the right to limit the number and dollar amount of items that are paid under Courtesy Pay and does NOT guarantee payment of any item drawn against non‐sufficient funds, uncollected funds or unavailable funds. The Overdraft Item Payment ‐ Courtesy Pay program may be discontinued by the Credit Union at any time without prior notice.

Courtesy Pay Criteria: All of the following constitute the required criteria which must be met at the time an NSF item or NSF Visa Debit Card transaction is received in order to be eligible to participate in the Overdraft Item Payment – Courtesy Pay program:

At least one account holder is at least 18 years of age;
The checking account is not classified by us as dormant or inactive (having no transaction activity for the last 12 months);
The checking account has a valid mailing address (no mail has been returned undeliverable or otherwise indicating “Bad Address”);
The checking account does not have an existing overdrawn balance exceeding $525.00;
The checking account is not currently overdrawn more than 15 calendar days;
The Credit Union has not sustained a loss by the account owner / member;
No loan is in default per the Loan Agreement, Note, Deed of Trust, Disclosure, or Security Agreement;
No loan payment is currently ten (10) or more days past the Payment Due Date;
The member is not currently on a “Minimum Loan Payment Plan”;
The Credit Union has not received a notification of bankruptcy in the name of the account owner / member.

Courtesy Pay Maximum Overdraft Limit: The maximum amount you can be overdrawn in your Checking Account is $525.00 not including any fees charged under the Overdraft Item Payment ‐ Courtesy Pay program.

Courtesy Pay Fees

We will charge you a fee of $25.00 each time we pay an overdraft.
We will charge a maximum of two (2) courtesy pay fees per account per day.
Courtesy Pay fee(s) will not be assessed if your account’s overdrawn negative balance is below $5.01. The fee waived transaction(s) will not count toward the maximum of two (2) courtesy pay fees per day

Account Overdrafts: Members are required to repay the Credit Union for all account overdrafts resulting from our decision to pay any item under the Overdraft Item Payment ‐ Courtesy Pay program, resulting from us charging you a fee, or otherwise, in a timely manner. Account overdrafts are subject to collection and/or other legal remedy if funds to rectify the account overdraft status are not received within ten (10) calendar days. The Credit Union reserves the right to transfer available funds from your other Credit Union accounts to cover any account overdraft. If at any time the balance in any of your Credit Union accounts is overdrawn (has a negative balance) for any reason, you will be responsible to cover the overdraft in a timely manner. You agree to pay the overdraft immediately, without notice or demand from us. Each account owner is jointly and severally responsible for paying any overdraft amount created by any authorized signer or party to the account, regardless of whether an account owner signed the check or received any direct or indirect benefit from the paper check, other paper item, electronic check conversion or substitute check, electronic ACH debit, Visa Debit Card transaction, preauthorized loan payment transfer, Bill Pay payment, or any other paper or electronic debit. Overdrawn accounts are subject to the federal statutory lien right, collection, and/or other legal remedy.

Other Overdrafts: Incidental to the general operation of accounts, the credit union may pay any share or share draft account into overdraft as a result of reversing returned deposited or cashed items, of‐line ATM transactions, and the assessment of service charges and/or service related fees. In these instances, “Other Overdrafts” are generally unavoidable by the credit union.

Notice of What You Need to Know about Overdrafts and Overdraft Fees

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

We have standard overdraft practices that come with your account.
We also offer overdraft protection plans, such as a link to a savings account (for transfers), which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.

This Notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

Provided you have instructed us to do so, we do authorize and pay overdrafts for the following types of transactions:

Checks and other transactions made using your Checking Account number
Electronic ACH Debits
Automatic Bill Pay Payments

Unless you instruct us to do so, we do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below**):

ATM (Point of Sale) card purchase and payment transactions
Visa Debit Card purchase and payment transactions

We may pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined. What fees will I be charged if SAG‐AFTRA Federal Credit Union pays my overdraft under the standard overdraft practices?

Under our standard overdraft practices:

We will charge you a fee of $25.00 each time we pay an overdraft.
There is no limit on the total fees we can charge you for overdrawing your account
We do not assess other types of overdraft fees if your account is overdrawn for 5 or more consecutive business days; however, you are obligated to cover your account overdraft as soon as possible. If you do not cover your account overdraft timely, we can eliminate any further overdraft protection service and may even close your account.

*What if I want SAG‐AFTRA Federal Credit Union to authorize and pay overdrafts on Visa Debit Card purchase and payment transactions?

If you want to authorize the credit union to pay overdrafts on Visa Debit Card purchase and payment transactions, simply indicate your desire to Opt‐In by initialing the “Option Two” category AND the Debit Card Opt‐In section on our Returned Item and Overdraft Item Payment & Selection Form, and sign and return the form to us. Completed Returned Item and Overdraft Item Payment Selection & Consent Forms must be sent to:

SAG‐AFTRA Federal Credit Union, PO Box 11419 Burbank, CA 91510

HOLDS AND DEPOSITED FUNDS AVAILABILITY

Our policy is to make funds from your check deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits, cash deposits made in a branch, incoming wire transfers, and ACH deposits will be available on the same day we receive the deposit. Once they are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written.

Business Days ‐ For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and Federal holidays. If you make a deposit in person to one of our employees at a branch before closing time on a business day that we are open, we will consider that day to be the day of deposit. If you make a deposit in the Credit Union’s lobby “Quick Deposit” or 24‐hour (outdoor) night depository prior to 5:00 p.m. Pacific Time, we will consider that day to be the day of your deposit. However, if you make a deposit after those times or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

Longer Delays May Apply ‐ In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the second business day after the day of your deposit. However, the first $225.00 of each day’s total deposits will be available on the same day of your deposit.

If we are not going to make all of the funds from your deposit available on the first business day, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit was not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the first business day after we receive your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available.

In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:

(1) We believe the check you deposit will not be paid;

(2) You deposit checks totaling more than $5,000.00 on any one day;

(3) You or we redeposit a check that has been returned unpaid;

(4) You have overdrawn your account repeatedly in the last six months; or,

(5) There is an emergency, such as failure of communications or computer equipment.

We will notify you if we delay your ability to access the funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the fourth business day after the day of your deposit.

Special Rules for New Accounts: If you are a new member, the following special rules may apply during the first 30 days your account is open. Funds from electronic direct deposits, incoming wire transfers, cash, and ACH deposits to your account will still be available on the same day we receive the deposit. However, funds from a day’s total deposits of cashier’s, certified, teller’s, traveler’s, and federal, state and local government checks after the first $225 is made available on the same day, will be available on the second business day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you. Funds from all other check deposits will be available no later than the fourth business day after the day of your deposit.

Holds on Other Funds (Check Cashing): If we cash a check for you that is drawn on another financial institution, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.

Holds on Other Funds (Other Account): If we accept for deposit a check that is drawn on another financial institution, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.

Collection Items: The credit union accepts foreign items such as checks, cashier’s checks, and money orders. Due to the various international laws, clearing times, and limited recourse, and the heighten awareness of fraud; foreign items are subject to collection. Additionally, domestic items may be sent for collection on occasion. Collection items can take an extended amount of time for the funds to clear as the funds from the item must be collected from the issuing financial institution (domestic or foreign) before they are made available into your account. You will be notified of the estimated hold time at the time of your deposit or within one business day from receiving your deposit. When you are notified of your item being sent to collection you will have the option to proceed with the collection process or have the item returned to you. If you proceed with having your item sent to collection there fee associated with the process of at cost plus $30.00, per item.

HOLDS AND DEPOSITED FUNDS AVAILABILITY

‐ ATM DEPOSITS ‐

Deposits can be made at SAG‐AFTRA Federal Credit Union‐owned ATMs (“SAFCU ATMs”) and at other non‐Credit Union‐owned ATM locations displaying the "CO‐OP Network Deposit", “STAR Shared Deposit”, and “NYCE Shared Deposit” network symbols. SAFCU ATMs are easily identifiable as they display the SAG‐ AFTRA Federal Credit Union name and logo at the ATM location.

Funds from deposits made at SAFCU ATMs and at non‐Credit Union‐owned ATMs displaying the network symbols stated above, are subject to verification, may not be available for immediate withdrawal, and will generally be available for withdrawal the following business day. Longer delays may apply in accordance with this Policy (see below).

For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. Generally, if you make an ATM deposit after 12:00 p.m. (noon) Pacific Time on any day, we will consider that the deposit was made on the next business day we are open.

Cash deposits made at the ATM: If you make cash deposit at the ATM, the funds from the deposit will be available the next business day. Our ATM technology currently does not recognize cash deposits and we cannot guarantee the ATMs that accept deposits in our network will recognize cash deposits. As a result, all cash deposits conducted through the ATM are processed and made available the next business day.

If we are not going to make all of the funds from your deposit available on the first business day following the date of deposit we will mail you a notice by the first business day after we receive your deposit and tell you when the funds will be available. If you will need the funds right away, you should ask us when the funds will be available.

In addition, funds you deposit by check may be delayed for a longer period under the following circumstances: (1) We believe the check you deposit will not be paid; (2) You deposit checks totaling more than $5,000.00 on any one day; (3) You or we redeposit a check that has been returned unpaid; (4) You have overdrawn your account repeatedly in the last six months; or, (5) There is an emergency, such as failure of communications or computer equipment. We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the fourth business day after the day of your deposit.

DIRECT DEPOSITS AND PREAUTHORIZED CREDITS

DIRECT DEPOSITS: The Credit Union may offer Direct Deposit options allowing you to preauthorize deposits (i.e., residual checks, payroll checks, Social Security or retirement checks, or other recurring government or other benefit payments to your Credit Union account(s)). You must authorize any Direct Deposits to your account(s) by written instruction and authorization. If applicable, you must notify the Credit Union at least thirty (30) days prior to any Direct Deposit if you wish to cancel or change the Direct Deposit option. Upon filing of a bankruptcy, if you fail to cancel any Direct Deposit authorization, you instruct your employer or other depositor and the Credit Union to make and apply Direct Deposits in accordance with your authorization on file with the Credit Union. If the Credit Union is required to reimburse the U.S. Government or any government agency for any benefit payment directly deposited into your account for any reason, you agree the Credit Union may deduct the amount returned from any of your checking, savings or loan accounts, unless prohibited by law.

PREAUTHORIZED CREDITS: If you have arranged to have Direct Deposits made to your account at least once every 60 days from the same source and you do not receive a receipt (such as a pay stub), you can call us at (800) 826‐6946 to find out whether or not the deposit has been made. You may also confirm your Direct Deposits through our Telephone Banking Service or our Internet Banking Service.

STOP PAYMENTS

Overview: You have the right to request stop payment of a check or preauthorized electronic funds transfer against your account. Please refer to the telephone numbers listed on the back of this brochure to contact a Credit Union representative. You may request a stop payment by telephone, mail, online, or in person. At your request and risk, the Credit Union will, without responsibility on its part, accept a stop payment order on your account subject to the charges in effect at the time such a stop payment order is received. A stop payment order will be in effect if all required information is accurately provided and the information is received in sufficient time to enable us to act on it. Please note that if we are able to stop payment on your check or electronic funds transfer, you may still be liable to the payee or to a third party for the amount.

Stop Payment Orders on Checks:

Stop Payment Orders on checks provided in writing, orally, online, or mail are effective for six (6) months from the date received, unless otherwise canceled or renewed by you. Stop Payment Orders can be renewed after the six (6) month period has expired. An additional stop payment fee will apply.

If we inadvertently pay a check when a stop payment should have been effective, we will reverse any Credit Union charges that result, including the Stop Payment fee. In addition, we will reimburse you for your losses, up to the amount of the check, so long as you are able to prove that you do not owe the money to the person to whom you wrote the check. However, if you are unable to prove that you do not owe the money, we will not be obligated to reimburse you for the check amount.

Stop Payment Orders on Preauthorized Electronic Funds Transfers and ACH Debits: If you have made arrangements in advance to allow the Credit Union or a third party to make regular electronic fund transfers out of your account(s) (such as via ACH Debit), you may request stop payment of these preauthorized transfers. You must notify the Credit Union orally or in writing at any time up to three (3) business days before the scheduled date of the preauthorized transfer in order to enable the Credit Union to act on it. You can elect to place a “one‐time” stop payment, which is effective from the time the Stop Payment Order is placed and expires 21 calendar days following the scheduled payment date of the transfer. This type of “one‐time” stop payment order on electronic funds transfers and ACH debits applies only to the next scheduled transfer/payment. If you wish to terminate all future electronic transfers or ACH debits, you can elect an “ACH Block” which is an indefinite stop payment of all further debits from the originating institution or company. If you order us to stop one of these payments three business days or more before the scheduled transfer date and we do not do so, we will be liable for your losses or damages to the extent provided by law.

Fees: If made via the home banking: $10.00 (per item or range of items). If made in writing or orally: $20.00 (per item or range of items).

OTHER TERMS AND CONDITIONS FOR ALL ACCOUNTS (As Applicable)

PERIODIC ACCOUNT STATEMENTS: We issue or make available to you periodic account statements that reflect all account activity for the statement period. The Credit Union issues combined account statements that contain information on the activity and balances of each account established within the account number structure (for example, the activity on a savings, checking and certificate account all established within a specific account number structure would be reflected on a combined periodic account statement). If you have a checking account or money market savings account you will receive an account statement monthly, otherwise you will receive a statement quarterly; however, if in any month there is an electronic fund transfer to or from the account, such as a Debit Card, ATM, Telephone Banking, Internet Banking, Bill Pay Service, ACH, or electronic Direct Deposit transaction, you will receive a periodic statement for the month in which the electronic fund transfer occurred. Some loan accounts may have separate periodic billing statements and may not be included in the combined account statement even if established within the same account structure.

Periodic account statements are sent to the mailing address you have provided to us, which should be kept current at all times. If you have enrolled in eStatements, we will notify you by email that your statement is available to you on our secure website. You should keep your email address current with us at all times.

It is your duty and you agree to exercise reasonable care and promptness in the examination of all periodic account statements submitted to you by us, to discover any errors, unauthorized transactions or alterations on any items charged to your account, and to notify the Credit Union promptly after discovery. Your failure to discover and/or report errors or unauthorized transactions within the time limitations set forth below will constitute a breach of your duty hereunder and preclude any claims for loss resulting from such failure:

Paper Checks and Drafts – no later than 30 calendar days after we sent or made available the statement on which the transaction is first reflected.

Electronic Check/Draft Conversions – no later than 60 calendar days after we sent or made available the statement on which the transaction is first reflected; however, if the transaction was originally processed as a paper check or draft, was returned unpaid, and subsequently re‐presented as an electronic check conversion, the period is not later than 30 calendar days after we sent or made available the statement on which the transaction is first reflected.

Substitute Checks – no later than 40 calendar days after we sent or made available the statement on which the transaction is first reflected, whichever is later.

ACH Debit Entries – Personal Ownership Accounts ‐ no later than 60 calendar days following the original date of the transaction; Business Ownership Accounts – no later than one (1) business day following the original date of the transaction.

ATM, POS and Other Electronic Fund Transfers – no later than 60 calendar days after we sent or made available the statement on which the transaction is first reflected.

The Credit Union's retention of your checks does not alter or waive your responsibility to examine your statements or the time limits for notifying us of any errors. The statement will be considered correct for all purposes and we will not be liable for any payment made or charged to your account unless you notify us in writing within the above time limitations. If you fail to receive a periodic statement you agree to notify us within 14 days of the time you regularly receive a statement.

MEMBER LIABILITY FOR ELECTRONIC FUNDS TRANSFERS: Tell us AT ONCE if you believe that an unauthorized electronic fund transfer has been made using information from your check. Telephoning is the best way of keeping your losses down. You could lose all the money in your account (plus the maximum of any overdraft line of credit). If you tell us within two business days after you learn that someone has used information from your check to initiate an electronic funds transfer against your account without your permission you can lose no more than $50.00. If you do NOT tell us within two business days after you learn that someone has used information from your check to initiate an electronic funds transfer against your account without your permission, and we can prove we could have stopped the unauthorized electronic funds transfer had you told us, you can lose as much as $500.00.

Also, if your statement shows electronic funds transfers that you did not make, such as VISA Debit Card transactions, Electronic Check Conversion transactions, ACH debit transactions, Telephone Banking Service transactions, and Internet Banking Service transactions, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money (by us preventing the transactions) if you had told us in time. If a good reason (such as a long trip or hospital stay) kept you from telling us, we will extend the time periods.

In the event of an unauthorized electric funds transfer call us at: (800) 826‐6946 toll free, or write us at: SAG‐AFTRA Federal Credit Union, PO Box 11419, Burbank, CA 91510. You should also call us at this number or write to us at this address if you believe a transfer has been made using the information from your check without your permission.

LOST OR STOLEN CHECKS: You agree to notify us immediately if your checks are lost or stolen. For security reasons, we may close your applicable account and return checks marked “Refer to Maker” or otherwise. If it is necessary to close your account we may require you to sign a new Membership Application.

DEPOSITED AND CASHED ITEMS: All items deposited or cashed will be handled by the Credit Union as agent for you and are subject to charge‐back or refund if for any reason final payment is not received in a form acceptable to the Credit Union (for example, the item is returned to us unpaid for reasons such as insufficient funds or refer to maker). We will charge you a Dishonored / Returned Deposit Item Fee for each item, if we receive and charge‐back any deposited or cashed item against your account. Please refer to our current Fee Disclosure for the Dishonored / Returned Deposit Item Fee amount.

The Credit Union assumes no responsibility beyond the exercise of ordinary care in handling items on your behalf. Further, the Credit Union will not be liable for default or negligence of any correspondent or for loss in transit, and each correspondent will only be liable for its own negligence. The Credit Union reserves the right to send any item for collection.

If a claim is made with respect to any items subsequent to final payment on the grounds that such item was altered or bore a forged or unauthorized endorsement or was otherwise not properly payable, the Credit Union may withhold the amount thereof from the account until final determination of such claim. We have the right to refuse to accept any item for deposit and we specifically reserve the right to refuse to accept checks for deposit that have more than one endorsement or bear a conditional endorsement.

ENDORSEMENTS: You authorize the Credit Union, at its discretion, to accept transfers, checks, drafts, and other items for deposit into your account(s), whether or not they are endorsed by all payees. You authorize the Credit Union to supply missing endorsements if the Credit Union chooses to supply such endorsements. All endorsements, stamps or other information must be placed within the area on the back of the check that is the first 1 ½ inch space from the “trailing edge” (the left edge of the check when it is facing you).

We will not be responsible for any damages incurred in the event you deposit an item which is subsequently returned unpaid by the paying bank and that return is “late” due to markings on the check caused by you or a prior endorser on the back of the check. Also, in the event that you draw a check on your checking or loan account with us, you are responsible for any delay or misrouting of the check caused by markings placed on the check by you that obscure any depository endorsements placed by us or our agent and you agree to hold us harmless and indemnify us from any liability due to such delay or misrouting.

CHECK PROCESSING AND VERIFICATION: We may process checks mechanically, based on the information encoded on the items. This means that we may not visually examine each of your checks to determine if they are currently dated, properly completed and endorsed. Although we may review checks, you understand and agree that reasonable commercial standards do not require us to do so. You agree to review all statements and imaged checks (if provided) as soon as you receive them and to notify us immediately of any discrepancy.

ORDER OF PAID ITEMS: We may process and pay any check, other paper item, electronic ACH debit, and/or any other paper or electronic debit received against your account in any order we choose.

LOST ITEMS: The Credit Union acts only as your collecting agent when receiving items for deposit or collection. We reserve the right to reverse the credit for any deposited items lost while in the process of collection. We will record for you the amount of the item, identity of the bank on which it is drawn and date of handling. We are not responsible for items lost while not in our possession.

ACH AND WIRE TRANSFERS: You may initiate or receive credits or debits to your account via wire transfer or ACH (Automated Clearing House) transfer. You agree that if you receive funds by a wire or ACH transfer, the Credit Union is not required to notify you at the time the funds are received. Instead, the transfer will be shown on your periodic statement. The Credit Union may provisionally credit your account for an ACH transfer before it receives final settlement for the transfer. You agree that if the Credit Union does not receive final settlement for a transfer, we may reverse the provisional credit to your account, or you will refund the amount to the Credit Union. When you initiate a wire transfer, you must identify the recipient and any financial institution by name and by account or identifying number. The Credit Union (and other institutions) may rely on the account or other identifying number you give as the proper identification number, even if it identifies a different party or institution. Wire transfers are governed by Federal Reserve Regulation J if the transfer is cleared through the Federal Reserve. ACH transactions are governed by the rules of the National Automated Clearing House Association.

NOTICE OF VARYING ELECTRONIC FUNDS TRANSFER AMOUNTS: If you have arranged with us to initiate preauthorized electronic funds transfers/payments from your account at another financial institution to your Credit Union loan(s) or other accounts, we will tell you at least 10 days before each payment, when it will be made and how much it will be. You agree that such notification will be satisfied by providing you with the date and amount due on the loan billing notice or periodic statement associated with the loan to which the preauthorized electronic funds transfer loan payment will be made.

LEGAL PROCESS: If any legal action, such as a levy, garnishment, attachment or other legal lien is brought against your account, the Credit Union may refuse to pay out any money from your account until the dispute is resolved. If the Credit Union incurs any expenses or attorneys' fees in responding to legal process, such expenses may be charged against your account without prior notice to you, unless prohibited by law. Any legal process against your account is subject to the Credit Union’s lien and security interest on all accounts.

ACCOUNT RESEARCH: Fees may apply for various account research services and copies. Refer to the fee disclosure for detailed information on these fees. Please be aware that the Credit Union may only have access to research up to seven (7) years on most items.

CREDIT UNION’S LIABILITY FOR ERRORS: If the Credit Union does not properly complete a transaction according to this Agreement and Disclosure, the Credit Union will be liable for your losses or damages not to exceed the amount of the transaction, except as otherwise provided by law. The Credit Union will not be liable if: (a) through no fault of the Credit Union, your account does not contain sufficient funds to make the transaction; (b) circumstances beyond the Credit Union’s control prevents the transaction; (c) your loss is caused by your negligence or the negligence of another financial institution; (d) the funds in your account are subject to legal process or other claim; and/or (e) the Credit Union is not responsible for items lost while not in its possession. Except for its own negligence, the Credit Union is not liable for any payment or nonpayment of a check.

The Credit Union’s actions will constitute the exercise of ordinary care if such actions or nonactions are consistent with applicable state law, Federal Reserve regulations and operating letters, clearing house rules, and general financial institution practices followed in the areas serviced by the Credit Union. Any conflict between oral representations by you or Credit Union employees and any written form will be resolved by reference to this Agreement and Disclosure and the applicable written form.

BAD ADDRESS: After 90‐days, if we receive returned mail with an undeliverable/bad address notice, we will charge a $3.00 fee per month until the member’s account is updated with a current address. (See notification of name and address change below)

NOTIFICATION OF NAME AND ADDRESS CHANGES: It is your responsibility to notify the Credit Union promptly upon a change of name or of address. The Credit Union is only required to attempt to communicate with you at the most recent address you have provided to us. Change of addresses requests must be made in writing using the credit unions “Request for Address Change” from. We do not accept oral requests for address changes. In the event you fail to inform us of any name or address change we may charge your account for the actual cost of a necessary locator service paid to a person or concern normally engaged in providing such service.

NOTIFICATION AND EFFECT OF NOTICE: Any required or appropriate written notice the Credit Union gives you is considered delivered and effective when it is deposited into the U.S. Mail, postage prepaid and addressed to you at your last statement mailing address known to us, or if you have elected our eStatement Service, at the time the email is sent by us to you to the last email address known to us and is not returned to us as undeliverable within 48 hours. Notice to any one Account Owner is considered notice to all owners of the account. Any written notice you give to the Credit Union is effective when it is actually received by the Credit Union.

ACCOUNT TERMINATION: We may close and terminate your account(s) at any time by giving you notice of termination. Your account(s) may also be terminated or closed by us at any time without prior notification if it has a zero balance, there being no funds on deposit in the account, for a period greater than six months. The Credit Union also reserves the right to close your account without prior notification if: (1) there has been a forgery or fraud reported or committed involving your account; (2) there is a dispute as to the ownership of the funds in the account; (3) your account checks are lost or stolen; (4) there are excessive returned unpaid items not covered by an overdraft protection plan; or, (5) if there has been any misrepresentation or any abuse of your account.

You may terminate any account at any time by notifying us orally, by writing to us at the Credit Union, or by informing us in person at one of our branches, but such notice will not affect any prior transactions on any account. The Credit Union is not responsible for payment of any check, withdrawal or other item once any account is terminated; however, if the Credit Union pays any item after termination, or if any account is terminated due to overdraft, you agree to reimburse the Credit Union for any payment or overdraft. You understand that as long as you have an outstanding loan balance, you may not close out your share account and terminate membership with us.

CHANGES TO FEES, CHARGES OR OTHER TERMS: We reserve the right to change the fees, charges or other terms described in this Agreement and Disclosure, any other agreement or disclosure we may have with you, and our Fee Disclosure. When changes are made to charges, fees or dividend computations that may adversely affect you, we shall send a notice to you at your address shown on our records in accordance with the requirements of applicable state and/or federal law or regulation. We also reserve the right, in our business judgment, to waive, reduce, or reverse charges or fees in individual situations. No notification will be provided to you for changes in the Dividend Rate and Annual Percentage Yield for variable rate accounts other than the subsequent notice contained in your periodic statement.

SEVERABILITY: In the event any paragraph of this Agreement and Disclosure or any portion thereof is held by a court to be invalid or unenforceable for any reason, the other paragraphs and portions of this Agreement and Disclosure shall not be invalid or unenforceable and will continue in full force and effect.

ENFORCEMENT: You agree to be liable to the Credit Union for any liability, loss, or expense, as provided in this Agreement and Disclosure, that the Credit Union incurs as a result of any dispute involving your account(s) or services. You authorize the Credit Union to deduct any such liability, loss, or expense from your account(s) without prior notice to you. In the event either party brings a legal action to enforce any provision of this Agreement and Disclosure or collect any overdrawn funds on account(s) accessed under this Agreement and Disclosure, the prevailing party shall be entitled, subject to applicable law, to payment by the other party of its reasonable attorneys’ fees and costs, including fees on any appeal, bankruptcy proceedings, and any post judgment collection actions, if applicable.

DORMANT ACCOUNTS: An account is considered dormant after 12 months of inactivity. A letter will be sent to the member’s current address on file on the 11th month of inactivity as required by the California unclaimed property law. If no response is given by the member and the account remains inactive after the 12th month, a fee of $5.00 per month will be charged until the account is reactivated. (See below for escheated information)

OTHER AGREEMENTS, TERMS AND CONDITIONS:

Except as otherwise prohibited by applicable law, the terms of this Agreement and Disclosure are subject to change at any time. We will give you any advance notice as required by law.
Accounts are not transferable, except on the books of the Credit Union. Shares may be transferred from one member to another only by written instrument in such form as the Credit Union may prescribe.
The Credit Union reserves the right, at any time, to require members to give 60 days written notice of intent to withdraw, in whole or in part, shares from their savings, money market and certificate accounts. Not more than 30 days notice will be required on Legal Service Trust Funds Accounts.
Withdrawal of any or all funds from your account(s) by you or your beneficiaries will discharge us from any liability for such payment.
You agree to be bound by the Bylaws, laws, regulations, policies, procedures and other practices and guidelines of the Credit Union now in effect and/or as amended or later adopted regarding your account(s).
The Credit Union reserves the right to waive any term of this Agreement and Disclosure. Any such waiver shall not affect the Credit Union’s right to enforce any right in the future.
California law requires that inactive account balances be turned over ("escheated”) to the state after a specified period of time (ask us what this time period is) if you have not:
a) Increased or decreased the amount of any of your account(s) with us or presented an appropriate record for crediting of dividends or cashed a dividend check from any of your accounts with us (if the account statements are sent to the same address); or

b) Corresponded in writing or electronically with us concerning any of your accounts with us; or

c) Otherwise indicated an interest in any of your accounts with us as evidenced by a memorandum on file with u

We may charge a fee for mailing an escheat notice. To recover funds turned over to the state, you must file a claim with the state. An account escheat fee of $2.00 will apply.
You agree that by signing the Membership Application or any other Credit Union‐designated signature card you are also subject to the terms and conditions of the form of account which you have selected. Any additional terms and conditions stated on the Membership Application or other signature card you sign are fully incorporated by reference herein.
Any payment made by us on your account in good faith and in reliance on the terms and conditions of this Agreement and Disclosure and Membership.
Application or other signature card shall be valid and discharge us from liability.
Ownership of your account(s) will be established by the most recent Membership Application or other designated signature card or other document(s).
evidencing such account ownership. A different form of ownership may be established by executing a new Membership Application.
We reserve the right to close any account(s) we believe to be deliberately manipulated to the detriment of SAG‐AFTRA Federal Credit Union and its membership. “Manipulation” includes, but is not limited to, kiting and repeated patterns of transactions that have no apparent business reason other than to take advantage of “float” to our detriment. An Account Abuse/Closure Fee may be imposed as stated on our Fee Disclosure.
12. 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 endorse
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.
Our delay in enforcing any of the terms and conditions of this Agreement and Disclosure shall not prohibit us from enforcing such terms and conditions at a later date.

GOVERNING LAW: This Agreement and Disclosure is made in California and shall be governed by the laws of the State of California to the extent that California Law is not inconsistent with controlling Federal Law. California’s “Choice of Law Rules” will not be applied if they would result in the application of non‐ California law. Under the California Uniform Commercial Code and for the purposes of this Agreement and Disclosure the term “bank” includes the Credit Union.

JURISDICTION AND VENUE: The jurisdiction and venue for any action against the Credit Union shall be in the Superior Court of California in the County of Los Angeles unless federal law supersedes this provision in which case the matter shall be brought in the United States District Court in the Central District of California.

EMAIL COMMUNICATION: You can communicate with us via email at services@sagaftrafcu.org. Email contact can be made through our website “Contact Us” link or simply by emailing us directly. Email transmissions sent through general or public email, including your Internet service provider and via our website “Contact Us” link are NOT secure. Therefore, you should never send us personal, financial or other sensitive information via email. Do not email us information such as your account number, social security number, birth date, User ID, Password or other Access Code, or specific account or transaction information. Also, be advised that we will NOT request or provide such information to you via email. We cannot act on transactional requests or instructions such as transfers, stop payments, requests for additional Visa Debit/ATM Cards or PINs or reports of lost or stolen cards or PINs sent by you to us via email. You cannot perform transactions on your account via email instruction. The Credit Union will not immediately receive and review email messages that you send to us and we reserve the right not to act on information or requests sent via email. We may require your written authorization, including your signature, before any action can be taken so that we can verify the authenticity of the request or instruction. The Credit Union can only take action based on these limited criteria and only once we have a reasonable opportunity to act. The best way to communicate with us regarding confidential personal and financial information or other sensitive information is to telephone us at (800) 826‐6946 during our business hours of Monday thru Friday 9:00 a.m. to 5:00 p.m. Pacific Time

In connection with credit union membership, the opening your SAG‐AFTRA Federal Credit Union account, and at other times we will request your email address so that we have it for our records. Your email may also be requested for other services and is required when signing up for our eStatement Service. It is important that you keep your email address current with us. You can add or update your email address with us by accessing our website logging onto your Internet Banking Service, selecting the “Update Email Address” link, and following the instructions.

We may send you email containing information on products and services that we believe may be of interest to you. You can discontinue receipt of these emails at any time without removing your email address from our records by simply unsubscribing using the link located at the bottom of the email we send to you.

TELEPHONE BANKING SERVICE

This Telephone Banking Service section sets forth the terms and conditions and informs you of your rights and responsibilities in connection with our telephone‐accessible audio response electronic funds transfer service.

WHAT IS THE TELEPHONE NUMBER AND WHEN IS IT AVAILABLE? The Telephone Banking Service number is (818) 260‐0609 or (800) 392‐9321. You can call our Telephone Banking Service 24 hours a day, seven (7) days a week, including holidays. If for any reason the Telephone Banking Service is not available, the System will provide a message that it is unavailable at that time.

ACCESS CODE AND SECURITY: You have either been assigned or selected an Access Code so that you may access your accounts through the Telephone Banking Service. You are personally responsible for the confidentiality of your Access Code and all of your Telephone Banking transactions. If you disclose your Access Code to anyone, you understand that you have given that person access to your accounts by way of any touch‐tone telephone and that you may be responsible for any subsequent transactions, subject to limitations provided by law. You must notify the Credit Union immediately and may be required to send written confirmation should your Access Code be disclosed to anyone other than a joint owner on your account. All transfer and withdrawal requests made by way of the Telephone Banking Service are binding on the Credit Union only after the Credit Union has verified that sufficient unencumbered funds are available to complete the transaction.

ACCESS BY JOINT OWNER TO INDIVIDUALLY‐HELD LOANS AND LINES: If the account(s) accessible via the Telephone Banking Service is a joint account and the joint account owner has been provided access to the account by requesting the Telephone Banking Service and obtaining an Access Code or you have provided the joint account owner with your Access Code, you understand and agree that the joint account owner will have access to funds and information on loans and lines of credit established under the joint account structure for which they may not be a joint borrower or obligor. You understand that you will be liable for any transfers or advances against your individually‐held loans/lines of credit requested by any joint account owner.

FEES: There is no fee for using the Telephone Banking Service.

SERVICES, TYPES OF TRANSFERS AND LIMITATIONS: The Telephone Banking Service, along with your account number and Access Code, may be used to:

Inquire about account and loan balances, transaction activity and other information;
Find out if a check you have written has cleared your account;
Transfer funds between your savings, checking and money market accounts;
Obtain your certificate account information;
Make loan payments from your accounts and obtain loan payoff information;
Request disbursement by check made payable to you from your savings, checking and money market accounts (checks will be issued in the account owner name(s) and sent to the address as reflected on our records); and,
Obtain dividends earned and interest paid information.

TRANSACTION LIMITATIONS – MINIMUM AND MAXIMUM AMOUNTS AND NUMBER OF TRANSFERS: There is no minimum or maximum transfer amount on funds transfers to or from your savings, checking, money market and loan accounts, subject to the availability of funds and there are no limits on the number of transactions you can initiate on checking accounts; however there are limits on the number of transfers you can make from your savings and money market accounts, as follows:

Limits on Savings and Money Market Account Transfers: During any monthly statement period no member may make more than a total of six (6) transfers from any Regular Share (savings) Account to another of their credit union accounts by means of a preauthorized electronic funds transfer, automatic transfer, overdraft protection transfer, telephone order or instruction, request received via facsimile machine, transfer initiated through the Telephone Banking Service, or electronic transfer initiated through our Internet Banking Service (cumulatively). Transfers to make payments on loans with the Credit Union and transfers conducted at ATMs, in person, by mail or messenger, or through a night or lobby depository are excluded from this limitation. Also excluded is any transfer into the account and requests for a withdrawal of funds by check made payable to and mailed to the member. These account limitations and restrictions are mandated by Federal Law.

If you attempt to exceed the transfer limitations set forth above in any calendar month the Telephone Banking Service will provide the response “Reg. D Limit Reached ‐ Transaction Not Allowed” and you will not be permitted to initiate the requested transfer.

BUSINESS AND PROCESSING DAYS: For purposes of Telephone Banking transaction posting dates and dividend and interest accruals, business days and processing days are actual calendar days, Monday through Sunday 12:01 a.m. to 12:00 midnight, Pacific Time.

RIGHT TO RECEIVE DOCUMENTATION OF TRANSFERS: You will not receive individual receipts for your individual transactions conducted via the Telephone Banking Service; however, you will get a monthly statement reflecting the Telephone Banking electronic funds transfer activity on your accounts unless there are no transfers in a particular month. In any case, you will get a statement at least quarterly. Telephone Banking Service activity information is included in your regularly scheduled account statement.

YOUR LIABILITY FOR UNAUTHORIZED ELECTRONIC FUNDS TRANSFERS: Tell us AT ONCE if you believe that your Access Code has been lost, stolen, or you believe that someone has transferred funds from your account without your permission. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account plus your maximum overdraft line of credit (if any). If you tell us within two (2) business days, you can lose no more than $50.00 if someone used your PIN without your permission. The Credit Union telephone number is (800) 826‐6946 (Toll‐Free). Our address is SAG‐ AFTRA Federal Credit Union, P.O. Box 11419 Burbank CA 91510. If you do NOT tell us within two (2) business days after you learn of the loss or theft of your Access Code, and we can prove the loss could have been prevented had you told us in time, you could lose as much as $500.00.

Also, if your statement shows transfers that you did not make, tell us AT ONCE. If you do NOT tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.

IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS: Call us or write us immediately at the telephone number or address described in the preceding section, if you think your statement is wrong (or shows transfers that you did not authorize) or if you need more information about a transfer. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared. If you do not tell us within 60 days after the statement was mailed to you, you may not recover funds lost after the 60‐day period if we can prove that the loss could have been prevented had you told us in time. In your letter: (1) Tell us your name and account number; (2) Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information; and, (3) Tell us the dollar amount of the suspected error and the date it occurred.

If you notify us verbally, we may require you to send us your complaint or question in writing within 10 business days. We will tell you the results of our investigation within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will provisionally credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or request in writing and we do not receive it within 10 business days, we may not recredit your account. If we determine there was no error, we will send you written explanation within three business days after we complete our investigation. You may ask for copies of the documents that we used in our investigation.

CREDIT UNION'S LIABILITY FOR FAILURE TO MAKE TRANSFERS: If we do not complete an electronic funds transfer to or from your account on time or in the correct amount according to our agreement with you, we may be liable for your losses and damages. However, there are some exceptions. We will NOT be liable, for example, if: (a) Through no fault of ours, you do not have enough available funds in your account to make the transfer; (b) The transfer would exceed any permitted overdraft line you have with us; (c) Circumstances beyond our control (such as fire, flood, water damage, power failure, labor dispute, computer breakdown, telephone line disruption or a natural disaster) prevent or delay the transfer despite reasonable precaution taken by us; (d) The funds in your account are subject to legal process, an uncollected funds hold, or are otherwise not available for withdrawal; (e) The information supplied by you or a third party is incorrect, incomplete, ambiguous or untimely; or, (f) The system was not working properly and you knew about the breakdown when you started the transfer. There may be other exceptions stated in our Agreement with you.

CHANGES IN TERMS OR CONDITIONS: This Telephone Banking Service Agreement and Disclosure is subject to change to conform to changes in federal regulation and/or SAG‐AFTRA Federal Credit Union policy, including changes in terms, conditions and fees. If such change(s) result in increased liability to you, a reduction in the Telephone Banking services, or stricter limitations on the frequency or dollar amount of transfers, we will notify you at least twenty‐one (21) calendar days before the effective date of such changes, or as otherwise permitted by law. Any notification, required or appropriate, will be mailed to you and will be considered given when placed in the United States mail, postage prepaid, and addressed to you at your current address as it appears on our records.

CANCELLATION OR TERMINATION: You can cancel the Telephone Banking Service by telephoning us or sending your request in writing to us. The Credit Union may terminate your Telephone Banking Service and this Agreement: (a) If you or any person authorized to use your Access Code breach the terms of this Agreement; (b) If you terminate your membership with the Credit Union; (c) If you notify us to cancel your Telephone Banking Service; (d) If the Credit Union has reason to believe that an unauthorized person has used or is about to use your Access Code; or, (e) If, with or without cause, the Credit Union notifies you that this Agreement has been or is about to be terminated. Termination of this Telephone Banking Service Agreement and Disclosure will not affect your rights and responsibilities under this Agreement for transactions initiated before termination.

CONFIDENTIALITY: We will disclose information to third parties about your account or the transfers you make: (1) Where it is necessary for completing transfers; (2) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; (3) In order to generate your periodic account statement; (4) In order to comply with government agency or court orders; or, (5) If you give us your permission.

GOVERNING LAW: This Agreement and Disclosure shall be governed by and construed in accordance with the laws of the State of California, United States of

America, without regard to its conflicts of laws provisions

PRIVACY POLICY

Rev. Date 01/2012
FACTS	What Does SAG-AFTRA Federal Credit Union Do With Your Personal Information?

Why?	Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
What?	The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balances and assets Credit history and credit scores When you are no longer our member, we will not continue to share your information as described in this notice, except permitted or required by law.
How?	All financial companies need to share members’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons SAG-AFTRA Federal Credit Union chooses to share; and whether you can limit this sharing.

Reasons we can share your personal information	Does SAG-AFTRA Federal Credit Union share?	Can you limit this sharing?
For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus	Yes	No
For our marketing purposes – to offer our products and services to you	Yes	No
For joint marketing with other financial companies	Yes	No
For our affiliates’ everyday business purposes – information about your transactions and experiences	No	We do not share
For our affiliates’ everyday business purposes – information about your creditworthiness	No	We do not share
For our nonaffiliates to market to you	No	We don't share

Questions?	Call (800)-826-6949 or go to www.sagaftrafcu.org

What we do
How does SAG-AFTRA Federal Credit Union protect my personal information?	To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. SAG-AFTRA Federal Credit Union regularly tests and assesses its information security measures, systematically trains employees, and implements upgrades and enhancements as necessary to protect your information.
How does SAG-AFTRA Federal Credit Union collect my personal information?	We collect your personal information, for example, when you open an account or apply for a loan make deposits or withdrawals from your account show your driver's license Other sources, to verify the information you provide on applications, such as account and loan balances at other financial institutions as well as income and employment.
Why can't I limit all sharing?	Federal law gives you the right to limit only sharing for affiliates’ everyday business purposes—information about your creditworthiness affiliates from using your information to market to you sharing for nonaffiliates' to market to you State law and individual companies may give you additional rights to limit sharing. [See below for more on your rights under state law.]

Definitions
Affiliates	Companies related by common ownership or control. They can be financial and nonfinancial companies. SAG-AFTRA Federal Credit Union has no affiliates.
Nonaffiliates	Companies not related by common ownership or control. They can be financial and nonfinancial companies. SAG-AFTRA Federal Credit Union does not share with nonaffiliates so they can market to you.
Joint marketing	A formal agreement between nonaffiliated financial companies that together market financial products or services to you. Our joint marketing partners include: Credit reporting agencies, consumer reporting agencies, insurance companies, check printers, data processing companies, companies that prepare and distribute our member account statements, and other financial service providers.

Other important information
For California Residents: In accordance with California law, we will not share information we collect about you with nonaffiliated third parties, except as permitted by California law, such as to process your transactions or to maintain your account. If you are a California resident, please read the entitled document "Important Privacy Choices for Consumers" which includes details on how you can limit our information sharing under California law. For a copy please contact the credit union or visit us online at www.sagaftrafcu.org

Other important information

For California Residents: In accordance with California law, we will not share information we collect about you with nonaffiliated third parties, except as permitted by California law, such as to process your transactions or to maintain your account.

If you are a California resident, please read the entitled document "Important Privacy Choices for Consumers" which includes details on how you can limit our information sharing under California law. For a copy please contact the credit union or visit us online at www.sagaftrafcu.org

SAG‐AFTRA Federal Credit Union

BRANCH LOCATIONS
Burbank	Wilshire	Sherman Oaks
3820 W. Riverside Drive	5757 Wilshire Blvd. Ste 124	14118 Magnolia Blvd
Burbank, CA 91505	Los Angeles, CA 90036	Sherman Oaks, CA 91423

Member Service Center:

(818) 562‐3400 or (800) 826‐6946 (Outside Los Angeles)

Telephone Banking

24‐Hour Bank by Phone

(818) 260‐0609 or (800) 392‐9321

Internet

Visit us on the Web at:

www.sagaftrafcu.org

Federally Insured by NCUA

Equal Housing Lender

D020‐0620