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MEMBERSHIP AND ACCOUNT AGREEMENT GULF COAST EDUCATORS FEDERAL CREDIT UNION 5953 F

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MEMBERSHIP AND ACCOUNT AGREEMENT GULF COAST EDUCATORS FEDERAL CREDIT UNION 5953 F Powered By Docstoc
					








                                                 











     MEMBERSHIP AND ACCOUNT
           AGREEMENT




    GULF COAST EDUCATORS FEDERAL CREDIT UNION
    5953 FAIRMONT PARKWAY | PASADENA, TX 77505




             P: 281.487.9333 | F: 281.487.8537
            info@gcefcu.org | www.gcefcu.org
Table of Contents

I. General Account Information
          1. Membership Eligibility
          2. Individual Accounts
          3. Joint Accounts
          4. POD/Trust Accounts
          5. Accounts for Minors
          6. Uniform Transfer/ Gifts to Minors Account
          7. Convenience Account
          8. Deposit of Funds Requirements
          9. Funds Availability
          10. Account Access
          11. Account Rates & Fees
          12. Transaction Limitations
          13. Time Accounts
          14. Overdrafts
          15. Advantage Courtesy Pay Disclosure
          16. Postdated and Stale-dated Drafts
          17. Stop Payment Orders
II. Legal & Liabilities
          18. Credit Union Liability
          19. Member Liability
          20. Credit Union Lien and Security Interest
          21. Legal Process
          22. Account Information
          23. Notices
          24. TIN and Backup Withholding
          25. Statements
          26. Inactive Accounts
          27. Special Account Instructions
          28. Termination of Account
          29. Termination of Membership
          30. Death of Account Owner
          31. Severability
          32. Enforcement
          33. Governing Law

III. Electronic & Plastic Services
          34. EDIE/Voice Response
          35. ATM Card
          36. VISA Check Card
          37. Electronic Funds Transfers
          38. Preauthorized Transfers
          39. Internet Account Access
          40. Privacy Notice
Membership And Account Agreement
This Agreement covers your and our rights and
responsibilities concerning Account(s) offered to you by
the Credit Union (Credit Union). In this Agreement the
words "you" and "yours" means anyone who signs an
Account Card or Account Change Card (Account Card).
The words "we", "us", and "our" mean the Credit Union.
The word "account" means any one or more share or
other accounts you have with the Credit Union. The
classification and form of ownership of your account is
set forth on your Account Card. By signing an Account
Card, each of you, jointly and severally, agree to terms
and conditions in this Agreement and Account Card,
Funds Availability Policy Disclosure, the Truth in Savings
Rate and Fee Schedule (Rate and Fee Schedule), and any
Account Receipt, accompanying this Agreement, and the
Credit Union's Bylaws and policies, and any amendments
of these documents from time to time which collectively
govern your Membership and Accounts.

I. General Account Information

1. Membership Eligibility. To be eligible for membership
in the Credit Union you must be an individual or entity
qualifying within the Credit Union's field of membership
and must meet any other membership criteria set forth in
the Credit Union's Bylaws or established from time to
time by the Credit Union's Board of Directors. You
authorize us to check your account, credit and
employment history, and obtain a credit report from third
parties, including credit reporting agencies, to verify your
eligibility for the accounts and services you request.

2. Individual Accounts. An individual account is an
account owned by one member including any individual,
corporation, partnership, trust or other organization
qualified for credit union membership. If the account is a
single party account the interest of a deceased individual
owner will pass, subject to applicable law, to the
descendant's estate or Payable on Death (POD)
beneficiary, subject to other provisions of this
Agreement, governing our protection for honoring
transfer and withdrawal requests of an owner's or
owner's agent prior to notice of an owner's death.
3. Joint Accounts. An account owned by two or more
persons is a joint account.

       a. Rights of Survivorship. For a joint account with
rights of survivorship, upon the death of one party, all
sums in the account on the date of death vest in and
belong to the surviving party as his or her separate
property and estate. For a multiple party account without
rights of survivorship, the interest of a deceased owner
will pass to the descendant's estate. Unless otherwise
stated on the account card, a multiple party account is an
account with rights of survivorship, and the interest of a
deceased owner will pass to the surviving owners.

       b. Control of Joint Account Owners. Any joint
account owner is authorized and deemed to act for the
other owner(s) and the Credit Union may accept orders
and instructions regarding the account, requests for
future services, and any transaction from any other
account owner. Each joint account owner guarantees the
signature of the other owners. Any account owner may
withdraw funds in the account, stop payment on items
drawn on the account, transfer, or pledge to the Credit
Union all or any part of the shares of any account without
the consent of the other account owner(s) and the Credit
Union shall have no duty in such event to notify any
other account owner(s). The Credit Union reserves the
right at any time to require written consent of all account
owners for a change of ownership or termination of a
multiple party account. However, subject to a policy
adopted by the Credit Union's Board of Directors, a
member by written notice to the Credit Union may
change or cancel a designation, change the form of the
account, or stop or vary payment under the terms of the
account. If the Credit Union receives written notice of a
dispute between account owners or receives inconsistent
instructions from them, the Credit Union may suspend or
terminate the account, require a Court order to act or
require that all account owners agree in writing to any
transaction to the account.

         c. Joint Account Owner Liability. If any item
deposited in a joint account is returned unpaid, an
account is overdrawn, or if we do not receive final
payment on any transaction, each of the joint account
owners is jointly and severally liable to the Credit Union
for the amount of the returned item, overdraft, or unpaid
amount and any charges, regardless of who created the
overdraft, deposited or cashed the item or benefited
from the transaction. If any account owner is indebted to
the Credit Union, the Credit Union may enforce its rights
against any or all funds in the joint account regardless of
who contributed the funds to the account.

4. POD/Trust Accounts. A Payable on Death account or
trust account designation is an instruction to the Credit
Union that an account so designated is payable to the
owner or owners during their lifetimes, and upon the
death of the last account owner, payable to any named
and surviving POD or trust beneficiary are owned jointly
by such beneficiaries without rights of survivorship. Any
POD or trust beneficiary designation shall not apply to
Individual Retirement Accounts (IRAs), which shall be
governed by a separate beneficiary designation. The
Credit Union shall at no time have any obligation
whatsoever to notify any beneficiary of the existence of
any account or the vesting of the beneficiary's interest in
any account, except as otherwise provided by law.

5. Accounts for minors. For any account established by a
minor, the Credit Union reserves the right to require the
minor account to be a joint account with an owner who
has reached the age of majority under state law who shall
be jointly and severally liable to the Credit Union for any
returned item, overdraft, or unpaid charges or amounts
on such account. The Credit Union may make payments
of funds directly to the minor without regard to his or her
minority. Unless a guardian or parent is an account
owner, the guardian or parent shall not have any right to
access the account. The Credit Union has no duty to
inquire of the use or purpose of any transaction by the
minor or any account owner. The Credit Union shall not
change the account status when the minor reaches the
age of majority, unless authorized in writing by all
account owners.

6. Uniform Transfers/Gifts to minors account. A
Uniform transfers/ Gifts to Minors Account
(UTTMA/UGMA) is an individual account established
when a custodian deposits funds as an irrevocable gift to
a minor. The minor to whom the gift is made is the
owner and the beneficiary of the account. The custodian
has possession and control of the account for the
exclusive right and benefit of the minor, and barring a
court order otherwise, is the only party entitled to make
deposits to, withdrawals from, or close the account.
The Credit Union has no duty to inquire of the use or
purpose of any transaction by the custodian. In the event
of the custodian's death, the Credit Union may place an
administrative hold on the account, until it receives
instructions from any person authorized by law to
withdraw funds or a court order authorizing such
withdrawal.

7. Convenience Account. A convenience account is an
instruction to the Credit Union that the account owner
has authorized another person (Convenience Person) to
make transactions as agent for the account owner
regarding the accounts designated. A Convenience
Person has no ownership interest in the account or
Credit Union voting rights. The Credit Union has no duty
to inquire of the use or purpose of any transaction by
the Convenience Person.

8. Deposit of Funds Requirements. Funds may be
deposited to any account, in any manner approved by
the Credit Union in accordance with requirements set
forth on the Rate and Fee Schedule.

        a. Endorsements. You authorize the Credit Union,
in its discretion, to accept transfers, checks, drafts, and
other items for deposit into any of your accounts if they
are made payable to, or to the order of, any one or more
owners on the account, whether or not they are
endorsed by all payees. You authorize the Credit Union
to supply missing endorsements of any owners if the
Credit Union chooses to supply such endorsements. If
an insurance, government, or other check or draft
requires an endorsement as set forth on the back of the
check or draft, the Credit Union may require
endorsement as set forth on the item. Endorsements
must be placed in the space on the back of the share
draft or check between the top edge and 1.5 inches
from the top edge. The Credit Union may accept drafts
or checks with endorsements outside this space.
However, if any such endorsement or any other
markings you or any prior endorser has made on the
draft or check cause any delay or error in processing the
item for payment, you will be responsible for any loss
incurred by the Credit Union due to the delay or error.

      b. Collection of Items. The Credit Union shall not
be responsible for deposits made by mail or at an
unstaffed facility until the Credit Union actually receives
them. In handling items for deposit or collection, the
Credit Union only acts as your agent and assumes no
responsibility beyond the exercise of ordinary care. The
Credit Union will not be liable for the negligence of any
correspondent or for loss in transit, and each
correspondent will be liable for its own negligence. The
Credit Union reserves the right to send any item for
collection.

        c. Final Payment. All items or ACH (Automated
Clearing House) transfers credited to your account are
provisional and subject to our receipt of final payment. If
final payment is not received, we reserve the right to
charge your account for the amount of such items or
ACH transfers or both and impose a return item charge
on your account. If the Credit Union incurs any fee to
collect any item, the Credit Union may charge such fee
to your account. The Credit Union reserves the right to
refuse or to return all or any item or funds transfer. The
Credit Union shall have the right to charge back against
your account all previously deposited items or other
items endorsed by you that are returned to the Credit
Union unpaid, regardless of whether the amount of the
item has been available for your use. d. Direct Deposits.
The Credit Union may offer direct deposit options
allowing you to preauthorize deposits (i.e. payroll
checks, Social Security or retirement checks, or other
government checks) or preauthorize transfers from
other accounts at the Credit Union. You must authorize
any direct deposits to your account by a separate
authorization form. If applicable, you must notify the
Credit Union at least thirty (30) days prior to any direct
deposit or preauthorized transfer if you wish to cancel or
change the direct deposit or direct transfer option. Upon
filing bankruptcy, if you fail to cancel any direct deposit
authorization, you instruct your employer 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 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 accounts, unless prohibited by law.
        e. Crediting of Deposits. Deposits made after the
deposit cutoff time and deposits made on Credit Union
holidays and on days that are not business days of the
Credit Union will be credited to your account on the next
business day. Deposits received at unstaffed facilities
such as night depositories will be credited on the day
funds are removed and processed by the Credit Union.
Items drawn on an institution located outside the United
States are handled on a collective basis only. Amounts
will be credited to your account when we receive final
payment. You waive any notice of nonpayment,
dishonor, or protest regarding any items purchased or
received by Credit Union for credit to your account or for
collection.

9.Funds Availability. Our policy is to make funds from
your cash and check deposits available to you on the day
we receive your deposit. Electronic deposits will be
available on the 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 you have written. Please
remember that even after we have made funds available
to you, and you have withdrawn the funds, you are still
responsible for checks you deposit that are returned to us
unpaid and for any other problems involving your
deposit.

For determining the availability of your deposits, every
day is a business day, except Saturdays, Sundays, and
federal holidays. If you make a deposit before closing on
a business day that we are open, we will consider that
day to be the day of your deposit. However, if you make
a deposit after closing 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 same day of
your deposit. Depending on the type of check that you
deposit, funds may not be available until the fifth
business day after the day of your deposit. The first $100
of your deposits, however, may be available on the same
day.

If we are not going to make all of the funds from your
deposit available on the same 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 is 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 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:

     •    We believe a check you deposit will not be paid.
     •    You deposit checks totaling more than $5,000
          on any one day.
     •    You redeposit a check that has been returned
          unpaid.
     •    You have overdrawn your account repeatedly in
          the last six months.
     •    There is an emergency, such as failure of
          computer or communications 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 seventh business day after the
day of your deposit.

Special Rules for New Accounts

If you are a new member, the following special rules will
apply during the first 30 days your account is open.

Funds from cash, electronic direct deposits and wire
transfers to your account will be available on the day we
receive the deposit. Funds from deposits of the first
$5,000 of a day’s total deposits of cashier’s, certified,
teller’s, travelers, and federal, state and local government
checks will be available on the first business day after the
day of your deposit if the deposit meets certain
conditions. For example, the checks must be payable to
you. The excess over $5,000 will be available on the ninth
business day after the day of your deposit. If your deposit
of these checks (other than a U.S. Treasury check) is not
made in person to one of our employees, the first $5,000
will not be available until the second business day after
the day of your deposit.

Funds from all other check deposits will be available on
the 9th business day after the day of your deposit.
10. Account Access.

        a. Authorized Signature. In order to access any
account, the Credit Union must have an authorized
signature of yours on an Account Card. The Credit Union
is authorized to recognize your signature, but will not be
liable for refusing to honor any item or instruction of
yours if it believes in good faith that the signature on
such item or instruction is not genuine. If you authorized
the use of a facsimile signature, the Credit Union may
honor any draft that appears to bear your facsimile
signature even if it was made by an unauthorized person.
If you give your account number to a third person, you
authorize us to honor transactions initiated by the third
person even if you did not specifically authorize a
particular transaction.

       b. Access Options. You may make withdrawals or
transfers from your account in any manner which is
permitted by the Credit Union (i.e., check, draft,
automated teller machines (ATMs), in person, by mail,
automatic transfer, or telephone as applicable). If the
Credit Union accepts any draft that is not drawn on a
form provided by the Credit Union, you will be
responsible for any loss incurred by the Credit Union for
handling the draft. The Credit Union may return as
unpaid any draft that is not drawn on the form provided
by the Credit Union. The Credit Union has the right to
review and approve any form of power of attorney and
may restrict any withdrawals or transfers on your
accounts.

        c. ACH & Wire Transfers. If provided by the Credit
Union, you may initiate or receive credits or debits to
your account via wire transfer or ACH 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 an ACH 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 may identify either the recipient or 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 as the proper identification, even if it identifies a
different party or institution. Wire transfers are governed
by Federal Reserve Regulation J if the wire transfer is
cleared through the Federal Reserve. ACH transactions
are governed by the rules of the National Automated
Clearing House Association.

       d. Credit Union Examination. The Credit Union
may disregard information on any draft or check other
than the signature of the drawer, amount of the item and
any magnetic encoded information. You agree the Credit
Union does not fail to exercise ordinary care in paying an
item solely because its procedures do not provide for
sight examination of items.

11. Account Rates and Fees. The Credit Union's
payment of earnings on your account is subject to the
account rates and fees, payment and balance
requirements as set forth in the Rate and Fee Schedule.
The Credit Union may charge you fees for accounts and
services provided by the Credit Union. The fees and
charges that may be assessed against your account are
set forth on the Rate and Fee Schedule. You agree the
Credit Union may change the Rate and Fee Schedule at
any time, and you will be notified of such changes as
required by law.


Dividend Payment Policy. Dividends are computed on
the average daily balance. Minimum balance required to
earn a dividend is as follows:
          Savings........................ $500.00
          Checking................... $2,500.00
          IRA............................... $500.00
          Money Market……… $2,500.00

Any day the balance falls below the minimum required,
no dividends will be earned for that day. Deposits are
compounded and paid monthly.

12. Transaction Limitations.

       a. Withdrawal Restrictions. The Credit Union may
permit a withdrawal only if you have sufficient available
funds in your account to cover the full amount of the
withdrawal or have an established overdraft protection
plan. Drafts or other transfer or payment orders which are
drawn against insufficient funds will be subject to a
service charge, set forth in the Rate and Fee Schedule. If
there are sufficient funds to cover some but not all of
your withdrawal orders, the Credit Union may allow those
withdrawals for which there are sufficient funds in any
order at the Credit Union's discretion.

The Credit Union may also refuse to allow a withdrawal in
other cases; for example: any dispute between the
owners about the account (unless a court has ordered the
Credit Union to allow the withdrawal); a legal
garnishment or attachment is served; the account
secures any obligation to the Credit Union; any required
documentation has not been presented; or you fail to
repay a Credit Union loan on time. The Credit Union
reserves the right to require the members to give notice
in writing of any intended withdrawals from any account
of not less than seven (7) days and up to sixty (60) days in
accordance with applicable law before such withdrawal.

        b. Transfer Limitations. For share savings and
money market accounts, if applicable, you may make up
to six (6) preauthorized, automatic, telephonic, or audio
response transfers to another account of yours or to a
third party during the calendar month. A preauthorized
transfer includes any arrangement with the Credit Union
to pay a third party from the member's account upon oral
or written orders including orders received through the
automated clearing house (ACH). There is no limit on the
number of transactions you may make in the following
manner. (i) transfers to any loan account with the Credit
Union; or (ii) transfers to another Credit Union account of
yours or withdrawals when such transfer or withdrawal is
initiated in person, by mail, or at an ATM. If a transfer
request would exceed the transfer limitations set forth
above in any statement period, the Credit Union may
refuse or reverse the transfer, and your account may be
subject to suspension or closure by the Credit Union, and
the Credit Union may impose a charge.

13. Term Share Accounts. Any time deposit, term share,
share certificate, or certificate of deposit account allowed
by state law (Time Account), whichever is offered by the
Credit Union, is subject to the terms of this agreement
and the specific terms and disclosures set forth on the
Rate and Fee Schedule and Account Deposit Receipt for
each account which is incorporated herein by reference.
14. Overdrafts.
    a.       Overdraft Liability: If, on any day, the
             funds in your share draft account are not
             sufficient to cover drafts, fees or other
             items posted to your account, those
             amounts will be handled in accordance
             with our overdraft procedures or an
             overdraft protection plan you have with us.
             Our determination of an insufficient
             account balance may be made at any time
             between presentation of the item and the
             review of the account required. We have
             no duty to notify you of an insufficient
             funds draft. Your account will then be
             subject to a charge for the item, whether
             paid or returned, as set forth in the Rate
             and Fee Schedule. Except as otherwise
             agreed in writing, the Credit Union, by
             covering one or any overdraft, does not
             agree to cover overdrafts in the future and
             may discontinue covering overdrafts at any
             time without notice. In the event the
             Credit Union pays a draft or imposes a fee
             that would otherwise overdraw your
             account, you agree to pay the overdrawn
             amount immediately. We reserve the right
             to pursue collection of previously
             dishonored items at any time.
    b.       Overdraft Protection Plan: If we have
             approved an overdraft protection plan for
             you, we will honor drafts drawn on
             insufficient funds in your account by
             transferring the necessary funds from
             another account under this agreement or a
             loan account, as you have directed, or as
             required under the Credit Union’s
             overdraft protection policy. The fee for
             overdraft transfers, if any, is set forth on
             the Rate and Fee Schedule. Transfers from
             an account will be governed by this
             Agreement. Transfers from a loan account
             will be governed by the applicable loan
             agreement.


15. Courtesy Pay Disclosure
    Courtesy Pay is a feature of the Advantage Checking
    account. You can choose to have the Advantage
    checking account instead of the regular share draft
    account. Advantage Checking Accounts may allow
    you to have share draft transactions paid when you
    have insufficient funds in your share draft account
    and overdraft account. We generally pay your
    overdraft items up to $500 for GCEFCU Advantage
    checking accounts subject to the rules, criteria and
    limitations set forth in this disclosure. Advantage
    Checking account holders will be charged a fee per
    month for the account. Billing will occur on the first
    day of each month. Members who close their
    Advantage Checking Account within one month of
    the last check order will be billed for those checks.

    We do not authorize and pay overdrafts for the
    following types of transactions unless you ask us to
    (see below):

         •    Visa debit card clearings (Signature-based)

  We pay overdrafts at our discretion, which means we
   do not guarantee that we will always authorize and
   pay every type of transaction. If we do not authorize
   and pay an overdraft, your transaction will be
   declined.

    VISA Debit Card Transactions (Signature-based):
    Prior to accessing a fee for VISA debit card
    transaction overdrafts, the Credit Union will provide
    you with the right to opt in, or affirmatively consent
    to the Credit union’s overdraft service for debit card
    transactions. (Please note: The $500.00 courtesy pay
    limit does not apply to ATM and POS (PIN entered)
    transactions. These transactions will not authorize
    on the courtesy pay amount and will be declined if
    your account has insufficient funds.)

To open an Advantage Checking Account, members
must have the following:

         1.   Overdraft from another account, i.e.
              Savings, or another member number;

         2.   No record of returned deposit checks.

  Types of Transactions covered: Courtesy Pay fees
may be charged on all the items below.
      1.     Share draft clearings
      2.     ACH items
      3.     Automatic bill payments
      4.     VISA Debit card clearings (if opted in)
             – by definition, a signature-based Visa
             Debit Card transaction is one that
             processes through the Visa network
             without a PIN and in some cases, a
             signature is not required).
Advantage Checking Process:

      1.     Overdraft from a specified account may
      pay checks as presented; if there are no funds
      available, the account may be taken negative
      by the amount of the checks plus a courtesy
      pay fee for each paid item and the total amount
      may not exceed the $500.00 courtesy pay limit.

      2.   Failure to clear items: We are not
           obligated to pay any non-sufficient fund
           items nor will any item or items be
           guaranteed      for    payment.          Any
           discretionary payment by the Credit Union
           of any non sufficient fund items 1) does
           not obligate us to pay any additional or
           future non sufficient fund items and 2)
           does not obligate us to provide prior
           notice of our decision to refuse to pay any
           additional non sufficient fund items. We
           also have the right to discontinue this
           program at any given time.
 Transaction Clearing Process: Transactions may not
 be processed in the order in which they occurred,
 and the order in which transactions are received and
 processed can affect the total amount of overdrawn
 fees incurred. Usually, share drafts are cleared in the
 order we receive them, except when your account is
 already taken negative.        Once your account is
 negative, share drafts are cleared in the order of the
 smallest amount up to the largest amount.
 Depending on the number of items you might have
 clearing in one day; you may be responsible for
 multiple fees for each item trying to clear (NSF) or
 that did clear (Courtesy Pay).

 Daily Limits for Overdrawn NSF Fee: The daily
 maximum limit for fees for Courtesy Pay, NSFs and
 everyday VISA Debit card transaction overdrafts is a
 total of $300.00.
Opt-Out of Courtesy Pay Option: At any time if you
choose to “opt out” of our advantage checking
program please contact us. Please be advised that
once this service is removed that any payment
presented with non sufficient funds will be charged
as an NSF per item.

Opt-Out of VISA Debit Card Overdraft fees: At any
time if you choose to “opt-out” of the credit union’s
overdraft service for VISA debit card transactions,
you may do so by contacting us. Please be advised
that once your consent has been removed from this
service, your VISA debit card transactions will not
authorize on the $500 courtesy pay limit if there are
insufficient funds in your account, and therefore,
your VISA debit card transaction will be declined.

Negative Accounts: If your account is negative, and
a deposit is made, the deposit must cover any
negative amount first before any cash equivalent
items or cash is given back to you. All accounts
must be returned to a positive balance within 30
days of your account being negative. In the event
your account is not returned to a positive balance,
your account may be closed as an overdrawn share
draft and reported to Telecheck.

Notification of Courtesy Pay Usage: You will be
notified when you use your courtesy pay funds if it
causes your account to go into a negative status.

Notification of Negative Accounts: Letters are sent
out weekly for accounts that have had a negative
balance for a period of 15 days. A second notice
may be sent if your account remains negative for an
additional 10 days after the first notice.

Multiple Accounts: If you make a deposit and you
have multiple accounts with us, your deposit will
cover the account that is negative first and any
remaining amount may be applied to a different
account afterwards.

Inappropriate use of the Advantage Checking
Account: This account is not an account that should
be repetitively used for its courtesy pay funds. It is
your responsibility to remain aware of your account
status, conduct transactions appropriately, and
maintain appropriate funds for withdrawal. Failure
    to comply with this may result in your advantage
    checking account being closed, and you will be
    notified that you are no longer in good standing
    with us. Please note that we offer a variety of
    different services that may better suit your needs.

    Consent of members with directly deposited
    government payments: When opening an account,
    members who enroll in the Advantage Checking
    account must sign a disclosure included on the
    account card which authorizes the credit union to
    cover overdrafts and fees that are incurred on the
    account with those directly deposited government
    payments.

    Regular Share Draft Accounts: Items drawn on
    Regular or Business Share Draft Accounts may not be
    honored if it will take the account into a negative
    status. An NSF fee will be charged if sufficient funds
    are not available. If a share draft account remains
    negative for 30 days, the account may be closed as
    an overdrawn share draft and reported to Telecheck.

         Fees assessed to Advantage Checking
         account holders:

                  1.   $20.00 Courtesy Pay fee per
                       check item ,ACH item, or
                       automatic bill payment covered
                  2.   $20.00 NSF fee if over maximum
                       courtesy pay limit or not enough
                       advantage funds available to
                       cover item
                  3.   $5.00 Courtesy Pay fee per VISA
                       debit card transaction covered
                       (Signature-based)
                  4.   $6.00 monthly service fee for
                       advantage checking accounts


         Fees assessed to Regular Sharedraft account
         holders:

                  1.   $20.00 NSF fee per check item,
                       ACH item, or automatic bill
                       payment item

    Advantage checking disclosures are provided to you
at the time of account opening.
     Each monthly statement will summarize the total
     amount of overdraft and returned item fees
     assessed for each month, as well as the year-to-date
     totals.

     The credit union will place a $2.5 million dollar limit
     to this program. In the event that the total dollar
     amount of overdrafts the credit union will honor
     reaches $2.5 million, this program will be
     terminated

16. Postdated and Stale dated Drafts. You authorize us
to accept and pay any draft without regard to the date of
the draft even if the draft is presented for payment
before its date, unless you notify the Credit Union of the
postdating. Your notice will be effective only if the
Credit Union receives the notice in time for the Credit
Union to notify its employees and reasonably act upon
the notice and you accurately describe the draft,
including the number, date, and amount. You
understand that the exact information is necessary for
the Credit Union's computer to identify the draft. If you
give the Credit Union an incorrect, incomplete, or
untimely notice, the Credit Union will not be responsible
for paying the draft before the date stated and the
Credit Union may charge your account as of the date the
Credit Union pays the draft. You may make an oral notice
which will lapse within fourteen (14) calendar days
unless confirmed in writing within that time. A written
notice will be effective for six (6) months. A written
notice may be renewed in writing from time to time.
You may also agree not to deposit checks, drafts, or
other items before they are properly payable. The Credit
Union is under no obligation to you to pay a check or
draft drawn on your account which is presented more
than six (6) months after its date.

17. Stop Payment Orders.
a. Stop Payment Request. You may ask the Credit
Union to stop payment on any draft you or any account
owner draw upon your share draft account. You may
request a stop payment by mail or in person. An order is
binding upon the Credit Union only if it is in writing,
dated, signed, and describes the item with certainty. The
stop payment will be effective if the Credit Union
receives the order in time for the Credit Union to act
upon the order and you state the number of the
account, number of the draft, and its exact amount. You
understand that the exact information is necessary for
the Credit Union's computer to identify the draft. If you
give the Credit Union incorrect or incomplete
information, the Credit Union will not be responsible for
failing to stop payment on the draft. If the stop payment
order is not received in time for the Credit Union to act
upon the order, the Credit Union will not be liable to you
or any other party for payment of the draft. If we re-
credit your account after paying a draft over a valid and
timely stop payment order, you agree to sign a
statement describing the dispute with the payee, to
transfer all of your rights against the payee or other
holder of the draft to the Credit Union, and to assist the
Credit Union in legal action taken against the person.

b. Duration of Order. A written stop payment order will
be effective for six (6) months. A written stop payment
order may be renewed in writing from time to time. The
Credit Union is not obligated to notify you when a stop
payment order expires.

c. Liability. The Credit Union may charge a fee for each
draft for which a stop payment order is requested, as set
forth on the Rate and Fee Schedule. You may not stop
payment on any certified check, cashier's check, teller's
check, or any other check, draft, or payment guaranteed
by the Credit Union. You should be aware that while
payment of the item may be stopped, you may remain
liable to any person, including the Credit Union, who is
holder of the item despite the stop payment order. You
agree to indemnify and hold the Credit Union harmless
from all costs, including attorney's fees, damages or
claims related to the Credit Union's action in refusing
payment of an item, including claims of any multiple
party account owner, payee, or indorsee in failing to stop
payment of an item as a result of incorrect information
provided by you.

II. Legal & Liability

18. Credit Union Liability. If the Credit Union does not
properly complete a transaction according to this
Agreement, 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 enough
money 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; or (d) the
money in your account is subject to legal process or
other claim. The Credit Union will not be liable for
consequential damages, except liability for wrongful
dishonor. The Credit Union's actions will constitute the
exercise of ordinary care if such actions or non actions
are consistent with applicable state law, federal reserve
regulations and operating letters, clearinghouse rules,
and general banking practices followed in the area
served by the Credit Union.

You grant the Credit Union the right, in making
payments of deposited funds, to rely exclusively on the
form of the account and the terms of this Account
Agreement. Any conflict between oral representations
by you or Credit Union employees and any written form
will be resolved by reference to this Agreement and
applicable written form.

19. Member Liability. Tell us AT ONCE if you believe
your PIN has been used by an unauthorized party or
stolen. Telephoning is the best way of keeping your
possible losses down. You could lose all the money in
your account. If you tell us within two (2) business days,
you can lose no more than $0 if someone used your PIN
without permission. If you do not tell us within two (2)
business days after you learn of the loss or unauthorized
use of your PIN, and we can prove that we could have
stopped someone from using your PIN without your
permission if you had told us, you could lose as much as
the total amount withdrawn from your account. Also, if
your statement shows transfers that you did not make,
tell us AT ONCE. If you do NOT tell us within sixty (60)
days after the statement was mailed to you, you may not
get back any money you lost after thirty (30) days if we
can prove that we could have stopped someone from
taking your money if you had told us in time. If good
reason (such as long trip or hospital stay) kept you from
telling us, we will extend the time periods.

20. Credit Union Lien and Security Interest. To the
extent you owe the Credit Union money as a borrower,
guarantor, endorser or otherwise, the Credit Union has a
lien on any or all of the funds in any account in which you
have ownership interest, regardless of the source of the
funds, unless prohibited by law. The Credit Union may
apply these funds in any order to pay off your
indebtedness. If the Credit Union chooses not to
enforce its lien, the Credit Union does not waive its right
to enforce the lien at a later time. In addition, you grant
the Credit Union a consensual security interest in your
accounts and agree the Credit Union may use the funds
from your accounts to pay any debt or amount now or
hereafter owed the Credit Union, except for obligations
secured by your residence, unless prohibited by
applicable law. All accounts are non-assignable and
nontransferable to third parties.

21. Legal Process. If any legal action, such as levy,
garnishment, or attachment, is brought against your
account, the Credit Union may refuse to pay out any
money from your account until the dispute is resolved
or may pay out funds according to the terms of the levy.
If the Credit Union incurs any expenses or attorney 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.

22. Account Information. Upon your request, the Credit
Union will inform you of the name and address of each
credit reporting agency from which the Credit Union
obtains a credit report in connection with your account.
The Credit Union agrees not to disclose information to
third parties about your account regarding any
transaction or balances except when: (1) it is necessary
to complete the transaction; (2) the third party seeks to
verify the existence or condition of your account in
accordance with applicable law; (3) such disclosure is in
compliance with the law, government agencies or court
orders; (4) you give us your written permission.

23. Notices.
      a. Name or Address Changes. It is your
responsibility to notify the Credit Union upon a change
of address or change of name. The Credit Union is only
required to attempt to communicate with you at the
most recent address you have provided the Credit
Union. The Credit Union may accept oral notices of a
change in address and may require any other notice
from you to the Credit Union be provided in writing. If
the Credit Union attempts to locate you, the Credit
Union may impose a service fee as set forth on the Rate
and Fee Schedule.

        b. Notice of Amendments. Except as otherwise
prohibited by applicable law, the terms of this
agreement are subject to change at any time. The Credit
Union will notify you of any changes in terms, rates, or
fees as required by law. The Credit Union reserves the
right to waive any term in this Agreement. Any such
waiver shall not affect the Credit Union's right to enforce
any right in the future.

        c. Effect of Notice. Any written notice you give
the Credit Union is effective when it is actually received
by the Credit Union. Any written notice the Credit Union
gives to you is effective when it is deposited in the U.S.
Mail, postage prepaid and addressed to you at your
statement mailing address. Notice to any one account
owner is considered notice to all owners of the account.

24. Taxpayer Identification Numbers and Backup
Withholding. If your account is or becomes subject to
backup withholding, the Credit Union is required by law
to withhold and pay to the Internal Revenue Service (IRS)
a required percentage of payments of dividends,
interest, and certain other payments under certain other
conditions. Your failure to furnish a correct taxpayer
identification number (TIN) or meet other applicable
requirements may result in backup withholding. If you
fail to provide your TIN, the Credit Union may suspend
the opening of your account or you may request a non-
dividend or interest bearing account until a TIN is
provided.

25. Statements.
         a. Contents. If the Credit Union provides a
periodic statement for your account, you will receive a
periodic statement of transactions and activity on your
account during the statement period as required by
applicable law. If a periodic statement is provided, you
agree that only one statement is necessary for a
multiple account. For share drafts or checking accounts,
you understand and agree that your original draft, when
paid, becomes property of the Credit Union and may not
be returned to you, but copies may be retained by Credit
Union or payable through financial institutions and made
available upon your request. You understand and agree
that statements are made available to you on the date
they are mailed to you. You also understand and agree
that drafts or copies thereof are made available to you
on the date the statement is mailed to you, even if the
drafts do not accompany the statement.

        b. Examination. You are responsible for
examining each statement and reporting any
irregularities to the Credit Union. The Credit Union will
not be responsible for any forged, altered or
unauthorized items drawn on your account if:

        (1) you fail to notify the Credit Union within sixty
(60) days of the mailing date of the earliest statement
regarding any forgery, alteration or unauthorized
signature on any item described in the statement; or,
        (2) any items are forged or altered in a manner
not detectable by a reasonable person, including the
unauthorized use of a facsimile signature machine.

        c. Notice to Credit Union. You agree that the
Credit Union's retention of drafts does not alter or waive
your responsibility to examine your statements or the
time limit for notifying the Credit Union of any errors.
The statement will be considered correct for all
purposes and the Credit Union will not be liable for any
payment made or charge to your account unless you
notify the Credit Union in writing within the above time
limit for notifying the Credit Union of any errors.

26. Inactive Accounts. If your account falls below the
minimum applicable balance, and you have not made a
withdrawal from, deposit to, or transfer involving your
account for more than the period specified in the Rate
and Fee Schedule and the Credit Union has been unable
to contact you by regular mail during that period, the
Credit Union may classify your account as a dormant
account. Unless prohibited by applicable law, the Credit
Union may charge a service fee for continuing to
process your dormant account as set forth on the Rate
and Fee Schedule. You authorize us to transfer funds
from another account of yours to cover any service fees,
if applicable. To the extent allowed by law, the Credit
Union reserves the right to transfer the account funds to
an account payable and to suspend any further account
statements. If a deposit or withdrawal has not been
made on the account and the Credit Union has had no
other sufficient contact with you within the period
specified by state law, the account will be presumed to
be abandoned. Funds in abandoned accounts will be
reported and remitted in accordance with state law.
Once funds have been turned over to the state, the
Credit Union has no further liability to you for such funds
and if you choose to reclaim such funds, you must apply
to the appropriate state agency.

27. Special Account Instructions. You may request the
Credit Union to facilitate certain trust, will, or court-
ordered account arrangements. However, because the
Credit Union does not give legal advice, we cannot
counsel you as to which account arrangement most
appropriately meets the specific requirements of your
trust, will, or court order. If you ask the Credit Union to
follow any instructions that the Credit Union believes
might expose it to claims, lawsuits, expenses, liabilities,
or damages, whether directly or indirectly, the Credit
Union may refuse to follow your instructions or may
require you to indemnify the Credit Union or post a
bond or other protection. Account changes requested
by you, or any account owner, such as adding or closing
an account or service, must be evidenced by a signed
Account Change form and accepted by the Credit Union.

28. Termination of Account. The Credit Union may
terminate your account at any time without notice to
you or may require you to close your account and apply
for a new account if (1) there is a change in owners or
authorized signers; (2) there has been a forgery or fraud
reported or committed involving your account; (3) there
is a dispute as to the ownership of the funds in the
account; (4) any share drafts are lost or stolen; (5) if
there are excessive returned unpaid items not covered
by an overdraft protection plan; (6) if there has been any
misrepresentation or any other abuse of any of your
accounts; or (7) if the Credit Union reasonably deems it
necessary to prevent a loss to the Credit Union. You may
terminate any single party account at any time by
notifying the Credit Union in writing. The Credit Union
reserves the right to require the consent of all multiple
party account owners for termination of a multiple party
account. The Credit Union is not responsible for
payment of any draft, withdrawal, or other item after
your account is terminated, however, if the Credit Union
pays an item after termination, you agree to reimburse
the Credit Union for the payment.

29. Termination of Membership. You may terminate
your membership at the Credit Union after giving notice
of your intent to withdraw from membership. You may
be denied services or expelled from membership for
any reason allowed by applicable law, including causing a
loss to the Credit Union.

30. Death of Account Owner. The Credit Union may pay
drafts or honor other payments or transfer orders
authorized by the deceased member for a period of ten
(10) days after the date of death unless the Credit Union
receives instructions from any person claiming an
interest in the account to stop payment on the drafts or
other items. You agree the Credit Union can require that
anyone who claims funds in your account after your
death indemnify the Credit Union for any losses
resulting from honoring that claim. This agreement will
be binding upon any heirs or legal representative of any
account owner.

31. Severability. In the event that any portion of this
agreement is held by a court to be invalid or
unenforceable for any reason, the remainder of this
agreement shall not be invalid or unenforceable and will
continue in full force and effect.

32. Enforcement. You agree to be liable to the Credit
Union for any loss, cost or expense that the Credit Union
incurs as a result of your failure to follow this
Agreement. You authorize the Credit Union to deduct
any such loss, costs or expenses from your account
without prior notice to you. In the event the Credit
Union brings a legal action to enforce the Agreement or
collect any amount due under this Agreement, the
Credit Union shall be entitled, subject to applicable law,
to payment of its reasonable attorney's fees and costs,
including fees on an appeal, bankruptcy proceedings,
and any post-judgment collection actions.

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

34. EDIE/Voice Response. By completing and signing
the EDIE application, I apply for a Gulf Coast Educators
Federal Credit Union confidential Personal Identification
Number (PIN) for use with EDIE audio response system. I
understand that I cannot use EDIE without a PIN and that
I will receive my PIN by separate mail. It is my
understanding that my PIN may be used for transfers
between my accounts, information regarding my
accounts, check withdrawals made out in my name on
my accounts (except Individual Retirement Accounts
and Certificate of Deposit) and for such other
transactions as may become available, of which this
Agreement is made a part by reference. I am
responsible for the safekeeping of my PIN provided by
the Credit Union and for all transactions by use of EDIE. I
will notify the Credit Union immediately and send
written confirmation if my PIN is disclosed to anyone
other than a joint owner of my account. If I disclose my
PIN to anyone, however, I understand that I have given
them access to my account via EDIE and that I am
responsible for such transactions. I further understand
that my PIN is not transferable and I will not disclose the
PIN or permit unauthorized use thereof. If I default on
any amounts I owe under this agreement, I agree to pay
any and all attorney fees and collection costs incurred by
the Credit Union to the extent allowed by law.
MEMBER LIABILITY. See Section II. Subsection 18
If you believe your PIN has been lost or stolen or that
someone has withdrawn or may withdraw money from
your account without your permission, call (281) 487-
9333 or write: Gulf Coast Educators FCU, 5953 Fairmont
Parkway, Pasadena, Texas 77505. Our business hours are
Monday and Friday 8:30am- 5:00pm, Wednesday 9:00am
-5:00pm, and Tuesday and Thursday 8:00am-6:00pm,
holidays excluded. I understand that the Credit Union
reserves the right to discontinue access to EDIE without
notice and will not be liable for failure to honor any
transactions. Amendments to this Agreement may be
provided to me, in accordance with applicable laws,
without restatement of the terms. The use of EDIE is
subject to such terms, conditions and requirements as
the Credit Union may establish from time to time. Stop
payment orders will not be allowed on Credit Union
checks except in the case of loss and then may require
the purchase of a corporate indemnity bond by the
member in favor of the Credit Union. There is a ninety
(90) day waiting period before a stop payment order will
be accepted. I understand that the Credit Union must
give me 21 days notice if it makes any changes in the
agreement. Transactions made through EDIE are binding
on the Credit Union only after verification by the Credit
Union. Transactions after the normal business hours
each day may be posted to the appropriate accounts on
the next business day after the date of such
transactions. The total dollar amount of transactions via
EDIE is subject to limits set by the Credit Union, and
sufficient verified funds must be available to satisfy my
transaction. EDIE will be available for your convenience
24 hours a day, 365 days a year, with minor interruptions
for end-of-day in house processing. The Credit Union
will mail you a statement of your account at least once
every quarter even if you do not use EDIE. If you use EDIE
in a particular month or have a checking account or Share
Account, you will be mailed a monthly statement.
Information concerning your share or loan account will
be given to third parties only: a) in order to comply with
the order of a government agency or court, or b) if you
give us your written permission, or c) when it is
necessary to complete the electronic transfer into your
account. If we don't complete a transfer to your account
in time or for the correct amount according to our
agreement with you, we will be liable for your losses or
damages. However there are some exceptions. We will
not be liable for instance, a) if circumstances beyond our
control (such as fire or flood) prevent the transfer
despite reasonable precautions we have taken, b) if the
party sending us the deposit either fails to generate the
deposit or fails to generate the correct amount on time,
or c) if, through no fault of ours, you do not have enough
money in your account to make the transfer. There may
be other exceptions stated in our Agreement with you.
35. Plastics Service. The Gulf Coast Educators Federal
Credit Union, "Credit Union" has, upon my request
agreed to issue me a Plastic Card, "Plastic Card", as a
convenience for use in Automated Teller Machines and
other electronic devices. By accepting the Card,
retaining, using, or authorizing its use, I agree to all the
terms and conditions set forth in the Agreement and
understand that I am bound by all rules, regulations or
operating procedures of the Credit Union. I understand
that I am liable for all "unauthorized use" of my card as
that defined in the Agreement. This brochure, the
enclosed Plastic Card Disclosure Statement, my
application for this Plastic Card, my Credit Union
member's share and draft account agreement, and my
Line of Credit Agreement (if applicable) constitutes the
"Agreement" for use of my Plastic Card. I understand
that this "Agreement" may be modified from time to
time with notice to me of the changes but that these
changes, if any, do not alter the remaining provisions of
this "Agreement".

Definitions:
1. The word "I", "me", and "my" as used in the
Agreement means the Cardholder or Cardholders.
2. The words "your account" or "my account" refers to
my share account and my draft account with the Credit
Union. If I have more than one account with the Credit
Union, "your account" refers to the account I have
identified in my application for a Card.
3. "Authorize" or "Authorize Use" means I have
permitted another person to have access to my Card and
my personal identification number either voluntarily or
by knowingly making them available to another whether
or not I have expressly permitted the use.
4. Personal Identification Number (PIN) is the four (4)
digit number which I create for use with my Card to
provide me electronic access to my account.
5. Debit Card is a Card which accesses funds in an
account to the extent such funds are on deposit in the
account.
6. Credit Card is a card or other single credit devise that
may be used to obtain funds while deferring payment of
the debt created. I understand that the Card I have
applied for is a debit card. I further understand that if I
should obtain overdraft protection, or a line of Credit
with the Credit Union, my Card will be a Credit Card to
the extent of such overdraft protection or the extent of
my Line of Credit. I agree to surrender the Cards to you
upon demand. I agree, further, that the Cards shall at all
times remain your property and that you may cancel this
Agreement at any time, subject to such notification as
may be required by applicable law. I agree that you may
amend this Agreement and these disclosures, from
time to time, subject to such notification as may be
required by applicable law. I agree to keep my PIN strictly
confidential and I understand that if I keep my PIN with
my Card, it may be considered authorized use if
someone else should access my account.
MEMBER LIABILITY. See Section II. Subsection 18 I
understand that upon notification from me of loss, theft,
or unauthorized use of my Card or PIN, the Credit Union
will freeze my account to prevent all electronic access.
Upon proper execution of an affidavit of loss, theft or
unauthorized use, the Credit Union may, in its discretion,
open a new account for me. I agree to hold the Credit
Union harmless for any failure to honor my Card for any
reason. I understand that I have acquired no property
interest in the use of my Card and that the Credit Union
may terminate or amend this Agreement at any time
without notice to me and I understand that such
termination, if any, does not relieve me from my
responsibility to pay any charges or advances then
existing on my account. I agree to hold the Credit Union
harmless, if because of my default under this or any
other agreement with the Credit Union, my funds are
attached by the Credit Union pursuant to legal process,
pledge, offset or statutory lien. I agree to indemnify the
Credit Union for collection costs, including but not
limited to expenses, court costs, and reasonable
attorney's fees, in the event of my failure to perform my
duties and responsibilities under the Agreement. I
agree to notify the Credit Union in writing within three
days of any change in my address. I understand that any
notice given by the Credit Union shall be effective if sent
to the address I have provided to the Credit Union. I can
terminate this Agreement by either closing my
designated account(s) or by notifying the Credit Union in
writing and no longer using my Card or PIN at
Automated Teller Machines or Network Automated
Teller Machines. If more than one person is authorized
to use the Credit Union services on my designated
account(s), or if the person has my Card and PIN, I
understand that the Credit Union cannot stop that
person from making transactions on my account(s)
without terminating my Card services. I agree to allow
the Credit Union until midnight of its next business day
to terminate my Card services after I give the Credit
Union notice. I will remain responsible for any Card
transactions during this time, subject to any limitations
set forth in any law or regulation. I understand that if this
Agreement is terminated by one Cardholder as provided
herein, the Agreement is terminated as to all
Cardholders. I understand that joint use of the Card is
available upon written application to a joint owner of my
account. I further understand that, subject to the Credit
Union rules and regulations on establishment of joint
accounts, if I authorize joint use of my Card, I have also
made such joint user a joint owner of my share or share
draft account. I have read the Agreement and
acknowledge receipt of the disclosures contained
therein. This Agreement has been made and will be
performed in Pasadena, Harris County, Texas. I
understand that my signature on the application form
for a Card constitutes my agreement to all terms and
conditions set forth in the Agreement.

36. VISA Check Card.
(a) Account Access. You may use your VISA Check Card
to:
         1. Pay for purchases at places that have agreed
to accept the card.
         2. Withdraw cash from your Checking and Share
(savings) Accounts using your Card and PIN at
            Automated Teller Machines.
         3. Transfer funds between your Checking and
Share (savings) Accounts using your Card and
            PIN at Automated Teller Machines.
         4. Inquire as to the balance in your Checking and
Share (savings) Accounts using your Card and
            PIN at Automated Teller Machines. Some of
these services may not available at all terminals.
(b) Limitations on Frequency Transfers. You may make
an unlimited number of transfers using your
 VISA Check Card.
(c) Limitations on Dollar Amounts of Transfers. You
may purchase goods and services and you may
make withdrawals from PULSE and/or CIRRUS using your
VISA Check Card in any amount up to the balance of
available funds in your account at the time of any such
purchase or withdrawal.
(d) Limitations on Overdraft Protection. VISA
authorizations will not include overdraft protection
balances.

37. Electronic Fund Transfer (EFT). In compliance with
the Electronic Funds Transfer Act, we are providing you
with the following disclosure of terms and conditions of
Electronic Funds Transfers involving Gulf Coast Educators
Federal Credit Union. These disclosures are a part of your
Agreement with the Credit Union controlling your use
of a Plastic Card or their access device. An Electronic
Funds Transfer (EFT) is any means of transfer of funds,
other than a transaction originated by check, draft or
similar instrument that is initiated through an Electronic
Terminal, Telephone, computer, or magnetic tape for
the purpose of ordering, instructing, or authorizing a
financial institution to debit or credit an account. An
Electronic Funds Transfer may be initiated by your
"access device". An example of an access device is your
Pulse Card used in combination with your Personal
Identification Number (PIN), or other means of access to
your account that initiate an Electronic Funds Transfer.

MEMBER LIABILITY. See Section II. Subsection 18.
ADDRESS AND PHONE NUMBER. You agree to keep
your Cards and PINs in a place of safekeeping, to refrain
from disclosing your PINs to any third party and to refrain
from writing your PINs on your cards. You agree that the
use of the Cards or PINs by you, any other applicant, any
joint owner on any of your accounts which may be
accessed by the Cards, anyone you permit or authorize
to use your Cards or PINs, and anyone to whom you
disclose your PINs or give access to your Cards or PINs
shall be deemed an authorized user for which you will
be liable. You will be responsible for reporting the loss
or theft of your Cards or PINs to us as soon as possible
after the loss or theft. If you believe your Card or PIN has
been lost or stolen call Gulf Coast Educators Federal
Credit Union at (281) 487-9333 or (800) 683-3863
during business hours. Or if you believe that someone
has transferred or may transfer money from your
account without your permission, call or write Gulf Coast
Educators FCU at 281-487-9333 or 800-683-3863 or
write to GCEFCU, 5953 Fairmont Parkway, Pasadena,
Texas 77505.

For after hours plastics problems or on-line bill
payment problems , please call:
VISA credit card (Elan) 1(866) 951-8239
VISA debit card (Pulse) 1(800) 528-2273
On-line Bill Payment 1(866) 300-9558

Definition of a Business Day. Our business days and
hours are:
Monday and Friday 8:30am - 5:00pm
Tuesday and Thursday 8:00am – 6:00pm
Wednesday 9:00am - 5:00pm
Holidays are not included.

Card Issuance and Personal Identification Number. In
this Disclosure and Agreement, the words "you", "your"
and "party" refer to any person to whom a Gulf Coast
Educators Federal Credit Union ATM Card or VISA Check
Card (the "Cards") is issued, any person to whom a
Personal Identification Number (PIN) is issued in
connection with any such Card or the Credit Union's EDIE
automated response system, any person authorized to
use or given access to any such Card or PIN and any
owner on any Credit Union Account which may be
accessed by the Card, the PIN, or any other electronic
funds transfer. The words "we", "us", "our" and "Credit
Union" refer to Gulf Coast Educators Federal Credit
Union. You agree that the use of a Card or PIN by you
shall be governed by the terms of your account
Agreement with us as well as the terms and conditions
set forth in this Agreement and the Electronic Funds
Transfers Disclosures set forth below.
Overdrafts. You agree that you will not use your ATM
Card, VISA Check Card, or the EDIE Audio Response
System to withdraw or transfer funds from your account
in amounts exceeding the available balance in your
account at the time of any such transfer, and you agree
to maintain available funds on deposit in your account
sufficient to pay any preauthorized electronic fund
transfers. You agree that we will be under no obligation
to make any such withdrawal or transfer, or to pay any
such preauthorized transfer if there are insufficient
funds in your account. If your account has sufficient
funds to cover one or more, but not all of the checks,
withdrawal orders, or electronic fund transfers during
any given business day, we may honor those items,
allow those withdrawals or make any such electronic
fund transfers in any order that we may choose in our
sole discretion including any such checks, orders or
transfers payable to us, and dishonor or refuse any item,
order or transfer for which there are insufficient funds
available thereafter. You also agree that, at our option,
we may post all VISA Check Card transactions during any
day before posting any other checks, withdrawal orders
or electronic fund transfers presented or made.
Automatic overdraft protection is not available for
withdrawals or transfers made through the use of your
ATM Card, VISA Check Card, the EDIE audio response
system, or by way of preauthorized transfers.
Electronic Check Conversions/Electronic Returned
Check Fees. If you pay a merchant with a share draft,
you may be authorizing that merchant to convert the
share draft to an electronic fund transfer. You may also
be authorizing the merchant to electronically debit your
account for returned check fees. You are considered to
have authorized the electronic funds transfer if you
complete the transaction after being told (orally or by
posted notice) that the transfer may be processed
electronically or if you sign a written authorization.

Available Transactions and Limitations. You may use
your access device to:
        a) Withdraw cash from your Share or Share Draft
Accounts.
        b) Make transfers of funds between Share or
Share Draft Accounts.
        c) Make balance inquiries on Share or Share Draft
Accounts. There are no limitations on the
           number of transactions you may have in a
specified period of time.

Charges for Member Use. You will be charged $5.00
for your ATM Card. Each additional card you request is
$2.50.

Additional charges deducted at the time of the
transaction:
Seventy-five cents ($.75) per each transaction.
Fifty cents ($.50) per each balance inquiry.

These additional charges are deducted immediately
from the account on which you perform the transaction.
All above charges are subject to change.

Right to Receive Documentation.

a) Terminal Transfers. You can get a receipt at the time
you make any transfer to or from your Account using an
automated teller machine or point-of-sale terminal.
b) Periodic Statements. You will get a monthly account
statement for your checking account. In any case, you
will get a statement for your share (savings) account at
least quarterly.

Right to Stop Payment of Preauthorized Transfers,
Procedure for Doing So, Right to Receive Notice of
Varying Amounts, and Credit Union’s Liability for
Failure to Stop Payment.

(a) Right to Stop Payment and Procedure for Doing
So.
If you have told us in advance to make regular payments
out of your account, you can stop any of these
payments. Here's how: Call or write us at the telephone
number or address disclosed above in time for us to
receive your request three business days or more
before the payment is scheduled to be made. If you call,
we may also require you to put your request in writing
and to get it to us within 14 days after you call. There will
be a charge for each stop payment order you give.
Please refer to our Truth-in-Savings Fee Schedule which
accompanies this Agreement for fees in connection
with your stop payment orders.
(b) Notice of Varying Amounts. If these regular
payments may vary in amount, the person or company
you are going to pay will tell you, 10 days before each
payment, when it will be made and how much it will be.
You may choose instead to get this notice only when
the payment would differ by more than a certain
amount from the previous payment, or when the
amount would fall outside certain limits that you set.
(c) Liability for Failure to Stop Payment of
Preauthorized Transfer. If you order us to stop one of
these payments three business days or more before the
transfer is scheduled, and we do not do so, we will be
liable for your losses or damages.
Disclosure of Account Information to Third Parties.
We will disclose information to third parties about your
Account or the transfers you make:
         (a) Where it is necessary for completing
transfers, or
         (b) In order to verify existence and condition of
your account for a third party, such as a credit
            bureau or merchant, or
         (c) In order to comply with government agency
or court orders, or
         (d) If you give us your written permission.

Credit Union’s Liability for Failure to Make Transfers.
If we do not complete a transfer to or from your
Account on time or in the correct amount according to
our Agreement with you, we will be liable for your
losses or damages. However, there are some
exceptions. We will NOT be liable, for instance: If,
through no fault of ours, you do not have enough
money in your account to make the transfer. If the
Transfer would draw your Share (savings) Account below
the required minimum balance. If the Automated Teller
Machine where you are making the transfer does not
have enough cash. If the Automated Teller Machine or
system was not working properly and you knew about
the breakdown when you started the transfer. If your
card or PIN is reported lost or stolen, or we have reason
to believe there may be an unauthorized use. . If we
have suspended or terminated your ability to use your
card and/or your PIN. If technical or legal limitations
prevent us from performing the requested transaction.
If the failure to properly complete the transaction is
caused by erroneous information supplied by you or
your agent. If circumstances beyond our control (such as
fire or flood) prevent the transfer, despite reasonable
precautions that we have taken. There may be other
exceptions stated in our Agreement with you.

In Case of Errors or Questions About Your Electronic
Transfers.
Telephone us at (281)487-9333, or 1-800-683-3863 or
write us at 5953 Fairmont Parkway, Pasadena, TX 77505
as soon as you can, if you think your statement or receipt
is wrong or if you need more information about a
transfer listed on the statement or receipt. We must
hear from you no later than 60 days after we sent the
FIRST statement on which the problem or error
appeared.

(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.

(3) Tell us the dollar amount of the suspected error. If
you tell us orally, we may require that you 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 (20 business days for point-of-sale
transactions or transfers initiated outside of the United
States) after we hear from you and will correct any error
promptly. If we need more time, however, we may take
up to 45 days (90 days for point-of-sale transactions or
transfers initiated outside of the United States) to
investigate your complaint or question. If we decide to
do this, we will re-credit your account within 10
business days (20 business days for point-of-sale
transactions or transfers initiated outside of the United
States) 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 question in writing and we do not
receive it within 10 business days, we may not re-credit
your account. If we decide that there was no error, we
will send you a written explanation within three
business days after we finish our investigation. You may
ask for copies of the documents that we used in our
investigation.

38. Preauthorized Transfers. You may arrange with
third parties for certain recurring payments to be paid
automatically from your account, or for certain recurring
deposits to be automatically made to your account.

39. Internet Account Access.
(a) Account Access via the World Wide Web. You may
use your EDIE PIN to:
        1. Transfer funds between your Share (savings),
Club and Checking Accounts.
        2. Make loan payments from your Share (savings)
or Checking Accounts
(b) Limitations on Frequency of Transfers. You may
make an unlimited number of loan payment transfers
between your accounts.
(c) Limitations on Dollar amounts of transfers. There is
no limit on the dollar amount you may transfer between
accounts, provided that your available balances are
sufficient to cover those transfers, and your Share
(savings) Account does not fall below the minimum
balance required.

40. Privacy Notice.
Gulf Coast Educators Federal Credit Union is committed
to making financial products and services available that
will help you reach your financial needs and meet your
financial goals. When you provide personal information
in order to process your transaction(s), you fully expect
your data to be used only for its intended purpose and
to be kept confidential. Protecting your personal
information and using it in a manner consistent with
your expectations is a high priority for everyone
associated with our Credit Union.

As a member of Gulf Coast Educators Federal Credit
union, you also have a responsibility to safeguard your
financial information.
Gulf Coast Educators F.C.U. wants you to be able to rely
on the quality of products and services we offer;
therefore, we stand behind the following privacy policy:

CATEGORIES OF INFORMATION WE COLLECT:

We collect nonpublic personal information about you
from the following sources:

          •     Information we receive from you on
                applications or other forms;
          •     Information about your transactions with
                us, our affiliates, or others; and
          •     Information we receive from a consumer
                reporting agency

We will collect only the personal information that is
necessary to conduct our business, this means just taking
the steps that are needed to provide you with
competitive financial products and services – no more.

CATEGORIES OF INFORMATION WE DISCLOSE AND
PARTIES TO WHOM WE DISCLOSE:

We do not disclose any nonpublic personal information
about our members and former members to anyone,
except as permitted by law.

We may disclose all of the information we collect, as
described below to companies that perform marketing
services on our behalf or to other financial institutions
with whom we have joint marketing agreements:

      •       Information we receive from you on
              applications or other forms, such as your
              name, address, social security number, assets,
              and income;
      •       Information about your transactions with us,
              our affiliates, or others, such as your account
              balance, payment history, parties to
              transactions, and credit card usage; and
      •       Information we receive from a consumer
              reporting agency, such as your credit
              worthiness and credit history.


DISCLOSURE OF INFORMATION ABOUT FORMER
MEMBERS:
If you decide to close your account(s) with us and
terminate your membership, or become an inactive
member, we will not disclose any nonpublic personal
information we have collected about you, except as
permitted by law.

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

We value your membership and hope you will remain
with us for many years to come. If you ever have any
questions about the accuracy of your account
information or concerns with any other area of our
membership operations please do not hesitate to contact
us.
This communication, including attachments, may contain
information that is proprietary, confidential and/or
privileged. The information transmitted is intended only
for the person or entity to which it is addressed. If you are
not the intended recipient or you believe that you have
received this communication in error, please notify the
sender immediately by return e-mail and promptly delete
this e-mail, including attachments, without reading or
saving them in any manner. The unauthorized use,
dissemination, distribution, or reproduction of this e-mail,
including attachments, or the taking of any action in
reliance on the contents of the contained information, is
strictly prohibited and may be unlawful.


























                                                 



    5953 FAIRMONT PARKWAY | PASADENA, TX 77505
              281.487.933 | www.gcefcu.org

				
DOCUMENT INFO
Description: Gulf Coast Educators Federal Credit Union document sample