Notice of Revised Membership, Accounts and Account Services Agreement

Overview: Periodically, the Credit Union revises the Accounts & Services Membership Agreement (Agreement) to ensure the content is aligned with service offerings, disclosure requirements, and changes to the rules and regulations that govern us.

What this means to you: The Agreement will be updated in the sections noted below. You may obtain a copy of the revised Agreement by visiting a branch or by calling the Credit Union and requesting a copy be mailed to you.

Effective date: The revised Agreement will be effective May 1, 2008.

In the second Paragraph of the Membership, Account and Account Services Agreement section, text has been modified to define “Agreement” as it relates to other governing third party requirements and rules, such as the National Automated Clearing House Association. Paragraph 3.a now includes a disclosure relating to state and/or federal laws limiting or prohibiting transactions related to gambling. The title for Paragraph 5 now reads “Credit Reports, Membership Eligibility and Future Services.” No changes were made to the text within this section. Paragraph 6.c clarifies information with regard to an E-Check. Paragraph 8.h informs you of temporary holds that may be placed by merchants for purchases made by you. The title for Paragraph 26 now reads “Statutory Consensual Liens on Shares”. No changes were made to the text in this section. Paragraph 29, Status Quo-Collateral Preservation is new. This paragraph states that shares on deposit constitute collateral and the Credit Union reserves the right to preserve the collateral if risk exists from default or other breach. In Paragraph 2.h the Electronic Funds Transfer Agreement and Disclosures section has been updated to clarify “cross-border transaction fees” as they apply to foreign credit and debit card transactions. Paragraphs 8.a, b, and c of the Uniform Commercial Code Funds Transfers Agreement and Disclosure provides notification timeframes for making a claim under the Check 21 Act and for non-receipt of a periodic statement. Accounts under fiduciary control are also subject to these timeframes. The Home Banking Services Agreement section has been removed from the Agreement because it is provided when you establish online banking services.

Please refer to the revised Accounts & Services of Arizona Federal Membership Agreement, available May 1, 2008 for the specific terms and conditions in these revised sections.

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