Money Market Accounts Disclosures

By submitting this application (via e-mail, fax, US Mail or in person) you acknowledge that you have read and agree to the following disclosures.

Disclosures

Money Market Plus Agreement

I/We hereby authorize the Island Federal Credit Union to establish this checking account for me/us. The Credit Union is authorized to pay checks signed by me (or any of us) and to charge all such payment against the balance in this Account. It is further agreed that:

(a) Only check blanks and other methods approved by the Credit Union may be used to make withdrawals from this Account.
(b) The Credit Union is under no obligation to pay a check that exceeds the available and collected balance in this Account.
(c) The Credit Union may pay a check on whatever day it is presented for payment notwithstanding the date or any limitation on the time of payment appearing on the check.
(d) When paid, checks become the property of the Credit Union and will not be returned either with the periodic statement of the Account or otherwise.
(e) Except for negligence, the Credit Union is not liable for any action it takes regarding the payment or nonpayment of a check.
(f) Any objection respecting any item shown on a periodic statement of this Account is waived unless made in writing to the Credit Union before the end of 60 days after the statement is mailed.
(g) This Account is subject to the Credit Union's right to require advance notice of withdrawal as provided in it bylaws.
(h) This Account is also subject to such other terms, conditions and service charges as the Credit Union may establish from time to time.
(i) If this Agreement is signed by more than one person, the persons signing below shall be joint owners of this Account which, in that event, shall be subject to the additional terms and conditions below.

Additional Terms for Joint Account

The Island Federal Credit Union is hereby authorized to recognize any of the signatures for this account in the payment of funds or the transaction of any business for this account. Joint owners of this account hereby agree with each other and with said credit union that all sums now paid in on shares, or heretofore or hereafter paid in on shares by any or all of said joint owners to their credit as such joint owners with all accumulations thereon, are and shall be owned by them jointly, with right of survivorship and be subject to the withdrawal or receipt of any of them, and payment to any of them or the survivor or survivors shall be valid and discharge said credit union from any liability for such payment. The joint owners also agree to the terms and conditions of the account as established by the credit union from time to time. The right or authority of the credit union under this agreement shall not be changed or terminated by said owners, or any of them except by written notice to said credit union which shall not affect transactions theretofore made.