Agreement and Truth-in-Savings Disclosure

February 2004

Agreement and Truth-in-Savings Disclosure for Savings, Checking, Money Market, Club, Certificate, and IRA Accounts

In this Agreement and Truth-in-Savings Disclosure, the words "I," "Me," "Mine," "My," "Us," and "Our" mean each and all of those (whether one or more persons) who sign the applicable account's signature card. The words "You," "Your," and "Yours" mean Xceed Financial Credit Union.

You may change terms, conditions, requirements or amend this disclosure from time to time without notice. However, before any change or fee is increased or added, I will receive advance notice.

Important Information About Procedures for Opening a New Account

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.

What this means for me: When I open an account, I will be asked for my name, address, date of birth, and other information that will allow you to identify me.

I may also be asked to show my driver's license or other identifying documents.

1. DIVIDEND RATES:
Dividends on all accounts are paid as permitted by the Federal Credit Union Act and Regulations and in accordance with the Bylaws of this Credit Union.

NOTICE: FEDERAL LAW PROHIBITS THE GUARANTEE OF DIVIDENDS AS DIVIDENDS ARE BASED UPON AVAILABLE EARNINGS, AFTER ANY REQUIRED TRANSFERS TO RESERVES, AT THE END OF A DIVIDEND PERIOD.

2. Terms and Conditions Applicable to REGULAR SAVINGS ACCOUNTS:
Dividend rates are established by the Board of Directors quarterly. For this account type, the dividend period is quarterly; for example, the beginning date of the first dividend period of the calendar year is January 1 and the ending date of such dividend period is March 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the ending date of a dividend period, and for the example is March 31. Dividends are calculated daily on whole dollar balances in regular savings (provided the daily balance is $100.00 or more) and are paid quarterly on the last day of the quarter (March, June, September, December). If the account owner is a minor, dividends are calculated daily on whole dollar balances in regular savings (provided the daily balance is $50.00 or more) and are paid quarterly on the last day of the quarter (March, June, September, December). The minimum savings balance which is permitted is $5.00. Statements will be mailed annually for those accounts on which there is no activity other than dividend payments and the balance is $125 or less and unless otherwise provided by law. If I close my Regular Savings Account before dividends are credited, I will not receive accrued dividends.

3. Terms and Conditions Applicable to CHECKING ACCOUNTS:

All Checking Accounts:
A $100 minimum opening deposit is required unless direct deposit of net paycheck is selected.

You may, at your discretion, but are not obligated to (nor shall you be liable for refusal to), pay funds from this account:

1. When such payment would draw the account below the minimum balance as established from time to time by you ("overdrafts");
2. If drawn by means not authorized in advance by you; or
3. Against checks presented over 6 months past their dates.

You may pay and charge to my Checking Account, checks drawn by and payable to any persons, organization, association or corporation whom I have authorized by providing sample MICR encoded information for my account. I agree that your rights in respect to such checks shall be the same as if it were drawn and signed by me personally. This authority shall remain in effect until revoked by me in writing. I agree that you shall be fully protected in honoring such checks. I further agree that if any such check be dishonored, whether with or without cause, and whether intentionally or inadvertently, you shall be under no liability whatsoever even though such dishonor results in the forfeiture of insurance, loss or damage to me of any kind.

If you have made good faith payments to a holder, you may charge my account according to:

1. The original tenor of my check; or
2. The tenor of my completed check unless you have notice that any such completion is improper.

Provided such request is timely, so that you shall have reasonable opportunity to act upon it under your policies, I may order stop payment of any check payable against my account. You may, but shall not be obligated to, receive such order orally. In such event the order shall be valid for only seventy-two (72) hours thereafter unless confirmed in writing. Written orders shall be valid no longer than six (6) months. I have the burden of establishing the fact and amount of loss resulting from payment contrary to a binding stop payment.

Death, dissolution or incompetence of me (or any of us) shall not revoke your authority to accept, pay or collect a check or to account for proceeds of its collection until you know of the fact of death or adjudication of incompetence, have been provided with sufficient documentation, and have the reasonable opportunity to act on it. Even with knowledge, you may for ten (10) days after the date of death, dissolution or incapacity, pay or guarantee checks drawn on or prior to that date unless ordered in writing to stop payment by a person claiming an interest in the account under policies established by you. We shall notify you if any of us die, become incapacitated, or our organization is dissolved.

If you have paid a check under circumstances giving a basis for objection by me, you shall be subrogated to the rights of:

1. Any holder in due course on the check against the drawer or maker; and
2. The payee or any other holder of the check against the drawer or maker either on the item or under the transaction out of which the item arose; and
3. The drawer or maker against the payee or any other holder of the check with respect to the transaction out of which the check arose.

You may, without liability, accept, pay, guarantee or charge checks to the account in any order convenient to you.

In event of wrongful dishonor which occurs by mistake, liability shall be limited to actual damages. The measure of damages for failure to exercise ordinary care on a check is the amount of the item reduced by an amount which could not have been realized by the use of ordinary care.

You are neither given notice nor otherwise affected by a restrictive endorsement of any person or entity except your immediate transferor.

You may, but shall not be required to, pay overdrafts to the Checking Account by transferring funds to cover such overdrafts from my PowerLine of Credit. Overdrafts, if paid, in excess of funds in any loan account are payable on demand. I understand, however, that overdraft privileges do NOT apply to my Prime Money Market Checking Account.

I authorize you to transfer funds from my Regular Savings Account on my written or oral request to my Checking Account. Overdrafts, if paid in excess of funds available in any Savings Account are payable on demand. I understand that no more than three (3) transfers (whether these transfers are (a) automatic, (b) pre-authorized, or (c) done through Xceed On-Call) are permitted in any calendar month, and that a separate request is required for each additional transfer. You may, but are not required to, pay any check less than $1000 against insufficient funds. Overdrafts, if paid in excess of funds available in my checking account are payable on demand.

I shall pay you all costs and charges incident to the Checking Account according to the schedule established by you from time to time. You shall debit such charges against the Checking Account without prior notice, except where there are insufficient funds available and then such charges shall be treated as overdrafts, and due upon demand.

You may recognize the signature of anyone who signed the signature card as authorized to transact any business on this account including, but not limited to, the causing or making of overdrafts (for which all of us shall be liable) and endorsement of checks payable to any signer of this account.

If the signature card is signed by more than one person, all of us further agree as between ourselves and you:

1. All amounts now and hereafter in this account, regardless of source, are owned by us jointly and equally regardless of our net contributions, with right of survivorship, and are subject to withdrawal(s) and/or receipts of or by any of us and payment to any of us or any of the survivors of us shall be valid and discharge you from any liability for such payment.
2. No amounts in this account may be pledged by any or all of said owners as collateral security on any loan(s).
3. We hereby appoint each other as agents and attorneys in fact to overdraft any of our savings or loan accounts.

I understand and agree that my checks are truncated, I will not receive the originals, you do not inspect the checks for signatures, and I have a responsibility to inspect my monthly statement and report any discrepancies to you within thirty (30) days from the date the statement is mailed to the address of record. When paid, checks become the property of the Credit Union and will not be returned. If this is an ORGANIZATION account, the persons authorized to sign on this account certify that they are duly authorized officers of said corporation, partnership, organization or club and have the authority to transact business of any character whatsoever in connection with this account.

I will notify you immediately if my checks are lost or stolen. The use of the Checking Account is subject to such other terms, conditions and requirements as the Credit Union may establish from time to time.

1. Basic Checking Account:
   No dividends will be calculated or paid on this account. No monthly maintenance fee will be charged on this account.

 

2. Checking Plus Account:
   Dividend rates are established weekly. For this account type, the dividend period is monthly; for example, the beginning date of the first dividend period of the calendar year is January 1 and the ending date of such dividend period is January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the ending date of a dividend period, and for the example is January 31. Dividends will be calculated daily on whole dollar balances of $50.00 and above and will be paid monthly on the last day of the month. A monthly maintenance fee may be charged if the balance falls below the minimum balance amount set on Fee Schedule. If I close my Checking Plus Account before dividends are credited, I will not receive accrued dividends.

4. Terms and Conditions Applicable to MONEY MARKET ACCOUNTS:

All Money Market Accounts: Dividends at the weekly dividend rate are accrued daily and are paid weekly. For this account type, the dividend period is weekly; for example, the beginning date of the first dividend period of the calendar year could be January 3 and the ending date of such dividend period is January 9. All other dividend periods follow this same pattern of dates. The dividend declaration date follows the ending date of a dividend period, and for the example is January 10. Dividends will be calculated on the whole dollar amount and for each day funds are in the account, provided that dividends will be paid only if the account remains open through the end of the dividend period for balances of $1,000 or above. Paid dividends remaining in the account will become part of the account balance. If I close my Money Market Account before dividends are credited, I will not receive accrued dividends. Federal regulation limits the number of withdrawals and/or transfers from a Money Market account. A combined number of six withdrawals and/or transfers can be made per month by Xceed On-Call, Xceed On-Line Web Banking, and pre-authorized transfers.

My account may be closed by you under certain circumstances and the balance, if any, transferred to the Savings Account of the member whose signature appears first on the applicable signature card.

I may not pledge any of the amounts on deposit in the account as collateral security to any loan(s).

The Credit Union bylaws authorize the Board of Directors to request members give up to seven (7) days' notice of member's intention to withdraw savings from these accounts.

These accounts are not mutual funds or investment securities; they are special savings accounts and are insured by the National Credit Union Administration.

1. Prime Money Market Account:
   Dividends will be paid only if the account remains open through the end of the dividend period for daily balances of $1,000 or above.

   For the Prime Money Market, three of the six limited withdrawals/transfers may be by check. These withdrawals and transfers may be in any dollar amount not to exceed the account balance. You reserve the right to return any check drawn in excess of the above limitations.

   Deposits of any number and any dollar amount may be made to this account. I can have my check deposited each pay period or establish pre-authorized transfers to this account.

    

2. Capital Money Market Account:
   Dividends will be paid only if the account remains open through the end of the dividend period for daily balances of $15,000 or above.

    

3. Executive Money Market Account:
   Terms and conditions for the Executive Money Market Account are the same as those applicable to all other Money market Accounts, with the exception of dividend period.
   • Dividends are accrued daily and paid monthly.
   • Dividends are calculated on the following tiers:
     • $.01 to $49,999.99
     • $50,000 and above
   • Minimum Opening Deposit is $50,000
   • Three of the six limited withdrawals/transfers may be by check. These withdrawals/transfers may be in any dollar amount not to exceed the account balance. You reserve the right to return any check drawn in excess of the above limitations.
   • Deposits of any number and dollar amount may be made to this account. I can have my check deposited each pay period or establish pre-authorized transfers to this account.

5. Terms and Conditions Applicable to CLUB ACCOUNTS:

The minimum savings balance which is permitted is $5.00. Dividends are declared and paid on the same terms as Regular Savings.

Withdrawals are limited to one per quarter. Withdrawals in excess of this limitation will be subject to fees imposed from time to time by the Credit Union.

6. Terms and Conditions Applicable to CERTIFICATE ACCOUNTS:

Certificate rates are established by the Board of Directors weekly on Wednesday. Certificate rates start the day of deposit and hold for the term I select for the certificate. Dividends are paid and compounded quarterly and may be withdrawn without penalty. Withdrawal penalties are the lesser of all dividends earned or 90 days loss of dividends (for certificates with a maturity of 365 days or less), or 180 days loss of dividends (for certificates with a maturity greater than 365 days), with 7 days minimum of simple interest on withdrawals during the first 6 days. Certificates will automatically be renewed at maturity at rates and terms current on that date, unless I notify you otherwise in writing. If I close my Certificate Account before maturity, accrued dividends will be paid, offset by applicable penalty rates. If I exercise the option to do a one-time rate upgrade, I will get the rate currently offered for the same term.

1. Bronze Certificate:
   Minimum deposit is $1000; term for 6 months.

    

2. Silver Certificate:
   Minimum deposit $2500; term for 12 months. Additional deposits of $500 or more may be made to this account during the term of the certificate once per calendar quarter.

    

3. Millennium Certificate:
   Minimum deposit $2000; term for 15 months. Additional deposits of $500 or more may be made to this account during the term of the certificate once per calendar quarter. A one-time rate upgrade can be implemented by me orally notifying you, to be followed by written confirmation to you of this request.

    

4. Sterling Certificate:
   Minimum deposit $2500; term for 18 months. Additional deposits of $500 or more may be made to this account during the term of the certificate once per calendar quarter. A one-time rate upgrade can be implemented by me orally notifying you at your branch office, to be followed by written confirmation to you of this request.

    

5. Gold Certificate:
   Minimum deposit $2500; term for 24 months. Additional deposits of $500 or more may be made to this account during the term of the certificate once per calendar quarter. A one-time rate upgrade can be implemented by me orally notifying you at your branch office, to be followed by written confirmation to you of this request.

    

6. Platinum Certificate:
   Minimum deposit $2500; term for 36 months. Additional deposits of $500 or more may be made to this account during the term of the certificate once per calendar quarter. A one-time rate upgrade can be implemented by me orally notifying you at your branch office, to be followed by written confirmation to you of this request.

    

7. FlexibleFive Certificate:
   Minimum deposit $2500; term for 60 months. Additional deposits of $500 or more may be made to this account during the term of the certificate once per calendar quarter. A one-time rate upgrade can be implemented by me orally notifying you at your branch office, to be followed by written confirmation to you of this request.

    

8. Jumbo Certificate:
   Minimum deposit $50,000; terms for 30, 90, and 180 days. Minimum deposit $100,000; term for 12 months.

7. Terms and Conditions Applicable to IRA ACCOUNTS:
IRA accounts include Traditional IRAs, Roth IRAs, and Coverdell Education Savings Accounts (ESA's).

Certain Federal and State penalties apply to all IRA accounts. These are set forth in the Credit Union Custodial Account Agreement for each IRA type and is incorporated herein by reference.

I may not pledge any of the IRA savings on deposit as collateral security to any loan(s).

1. IRA Accumulator Account:
   Dividend rates are established quarterly, calculated daily and paid quarterly on the last day of the quarter (March, June, September, December). For this account type, the dividend period is quarterly; for example, the beginning date of the first dividend period of the calendar year is January 1 and the ending date of such dividend period is March 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the ending date of a dividend period, and for the example is March 31. Account may be accumulated for the calendar year by payroll deduction deposits. If I close my IRA Accumulator Account before dividends are credited, I will not receive accrued dividends. However, qualifying funds may be transferred to Credit Union IRA Certificates at any time without penalty.

    

2. IRA Certificate:
   Rates are declared weekly. Minimum deposits and terms are the same as Certificate Accounts.

8. Terms and Conditions Applicable to Individual and Joint Accounts:
If there is more than one owner, we all agree with each other and with you that all sums now paid in on savings or hereafter paid in on savings by any one or all account owner(s) including all dividends thereon, if any, are and shall be owned by all account owner(s) 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 owner(s) or the survivor(s) of any of the account owner(s). Any such payment shall be valid and shall discharge the credit union from any liability.

You are not required 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.

I may pledge any of the savings on deposit in the account as collateral security to any loan(s) subject to then current loan policies, except those funds on deposit in Checking, Money Market, IRA, Custodial or Trust Accounts. Further, that a pledge of savings by any one of us shall be binding on all of us. The right of survivorship arising from express terms of a joint account cannot be changed by will.

9. Terms and Conditions Applicable to Pay-On-Death (P.O.D.) Designations:
If I have made a pay-on-death (P.O.D.) designation, all sums are payable on request to me during my lifetime and upon my death to my designated P.O.D. payee(s) or if the account is jointly owned, to one or more account owner(s) during their lives and on the death of all of them to one or more payees then surviving in equal and individual shares. As between P.O.D. payees, there is no right of survivorship.

10. Terms and Conditions Applicable to REVOCABLE LIVING TRUST ACCOUNTS:
You will recognize our authority to open and maintain a Revocable Living Trust account in our capacity as Trustee(s). The account will be administered as any other share or other Credit Union account, as applicable, except that upon the death, incapacity, or incompetence of all Trustees, you will only pay the sums on deposit to a duly authorized successor Trustee. Revocable Living Trusts are further governed by your separate agreement with us on the Application for Membership and Revocable Living Trust Signature Card to establish an account in our name as Trustee.

11. Terms and Conditions Applicable to TRUST ACCOUNTS (Totten Trust):
The trustee(s) declare that the account is, and any and all sums credited to such savings account are and shall be, held by me (as joint tenants and equally regardless of our net contributions with right of survivorship if there is more than one trustee) in trust for the Beneficiary(ies) named on the signature card, reserving to me the right (1) to have dividends declared on such share account paid to me; and (2) to revoke such trust in whole or in part, at any time or times by executing and delivering to you a request for withdrawal or pledge of savings of the whole or part of such savings account, and such trust shall be revoked as to the whole or part to which such request relates.

In the event of my death or, if the account is held by more than one person, the death of my survivor, then and only then, you shall pay such savings 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 my death or the death of my survivor), but if no survivor, you shall pay such savings account amount to my estate or the estate of my survivor. There is no right of survivorship between Beneficiaries. I may not pledge any or all of the savings on deposit in the account.

A right of survivorship or a beneficiary designation in a trust account cannot be changed by will.

12. Terms and Conditions Applicable to All CUSTODIAL ACCOUNTS:
The transferor/custodian is opening an account as custodian for the minor named on the signature card under the Uniform Transfers to Minors Act. The transfer of money to the minor named on the signature card, which transfer shall be deemed to include all dividends and any future additions thereto, is irrevocable and is made in accordance with and to include all provisions of the said statute of the State of California now in effect or hereinafter amended.

I acknowledge that by signing the signature card, I have received the funds deposited to the account as custodian for the minor named herein under the Uniform Transfers to Minors Act.

I may not pledge any of the savings on deposit in the account as collateral security for any loan(s) subject to then current loan policies.

The successor custodian named in the signature card shall serve if I should be unable to act as custodian because I resign, die, or become legally incapacitated.

13. Terms and Conditions Applicable to All FIDUCIARY ACCOUNTS:
I am duly appointed and acting in the capacity of Executor/Executrix, Administrator/Administratrix, Guardian or Conservator. By the authority vested in me, I am acting individually or jointly, authorized and empowered to transact business of any character.

I may pledge any regular savings on deposit in the account as collateral security to any loan(s) subject to then current loan policies.

If a Checking Account is opened with you, I agree that the account shall be governed by the terms of this Agreement and Truth-in-Savings Disclosure as well as the terms of the Checking Agreement.

If the account is blocked, I understand that I shall file with the court a written receipt including the agreement with the credit union that the money in the account, including any earnings thereon, shall not be withdrawn except upon court order.

I agree that you are a mere depository for business transacted with respect to this account and are not acting in a fiduciary capacity.

14. Terms and Conditions Applicable to All SOLE PROPRIETORSHIP ACCOUNTS:
I affirm that I am the sole proprietor of the sole proprietorship named on the signature card. You may pay out of funds with my signature. You may accept and/or endorse checks made payable to me or the sole proprietorship named on the signature card which you receive for deposit.

I may pledge any regular savings on deposit in the account as collateral security for any loan(s) subject to then current loan policies.

If a Checking Account is opened with you, I agree that the account shall be governed by the terms of this Agreement and Truth-in-Savings Disclosure as well as the terms of the Checking Agreement.

15. Terms and Conditions Applicable to All CORPORATE PARTNERSHIPS and UNINCORPORATED ASSOCIATIONS:
The persons named on the signature card duly authorized to make the certification, certify that at a regularly held meeting the person(s) named were elected or appointed officers of said corporation or organization or are duly acting partners of said partnership and that by virtue of the authority vested in me by the constitution, bylaws or otherwise, any one (1) of the signatories, as named on the signature card, is authorized and empowered to transact business of any character whatsoever on connection with the account. I certify that the signature(s) appearing on the signature card are the genuine signature(s) of said authorized person(s); and that my authority shall continue in force until written notice to the contrary is received by you.

I may pledge any regular savings on deposit in the account as collateral security for any loan(s) subject to then current loan policies.

Further, that a pledge of Savings by any one of us shall be binding on all of us.

If a Checking Account is opened with you, I agree that the account shall be governed by the terms of this Agreement and Truth-in-Savings Disclosure.

16. Terms and Conditions Applicable to ALL ACCOUNTS:
All accounts are subject to Xceed Financial Credit Union's Fee Schedule of service charges which are incorporated into this Agreement and Truth-in-Savings Disclosure by reference.

I must be and remain a member in good standing to maintain any account. Accounts other than Checking are not transferable except as defined in Regulation D.

Accounts may be subject to fees, which are disclosed in the current Fee Schedule.

You reserve the right to change any provision of this Agreement and Truth-in-Savings Disclosure or any other account agreement. You can also reserve the right to establish from time to time rules and regulations concerning any account which will be available for inspection upon request.

All deposits to the account received prior to 2 P.M. on any business day will be credited to the account on the day of receipt. Deposits received after 2 P.M. may be credited as of the next business day. Any deposit made prior to noon of any business day through a remote ATM or other off-site facility will be credited to the account on the day of receipt. Deposits at a remote ATM or other off-site facility made after noon may be credited on the next business day. All non-cash payments received to this account are subject to final payment and in accordance with your Funds Availability Policy disclosed in this document.

You may endorse checks or drafts for me which you receive for deposit.

You are not responsible for items lost while not in your possession.

You will mail all statements and other notices only to the person whose signature appears first on the Account Signature Card. I shall exercise reasonable care and promptness and in all cases after thirty (30) days after mailing of my statement, I am precluded from raising any objection against you. It is my responsibility to keep you informed of my current mailing and street address.

The par value of a Regular Share in this Credit Union is $5.00. I understand that no dividends will be paid on amounts under $100 unless the account owner is a minor, in which case no dividends will be paid on amounts under $50. Dividends will begin to accrue on the business day I deposit non-cash items (e.g., checks) to my account.

You or I may terminate an account at any time. I understand, however, that your authority may not be changed or terminated except by written notice to you which will not affect prior transactions. You may recognize the signature of anyone who signed an Account Signature Card as authorized to transact business on an account.

The bylaws of Xceed Financial Credit Union authorize the Board of Directors to request the members to give up to sixty (60) days written notice of the member's intention to withdraw savings from the account, except Checking.

In addition, for all Money Market and Certificate Accounts, the Federal Reserve Board regulations require an early withdrawal penalty of seven (7) days interest on amounts withdrawn within the first six (6) days after deposit.

I understand that Individual, Joint, and Trust Accounts may be subject to Multiple Party Accounts Law, Division 5 of the California Probate Code, as now in effect or hereafter amended.

The word owner(s) on an Account Signature Card means the owner in the case of an individual account and it means the joint owners (both as individual and as a group) in the case of a joint account.

Owner(s) agree that any and all sums heretofore or hereafter paid on deposits shall be subject to withdrawal or receipt of any owner and any such payment shall be valid and discharge the Credit Union from any liability.

The law provides that you may take funds on deposit in my account to satisfy a debt I owe you which is not paid when due. This is called right of setoff. If you exercise this right of setoff, you shall comply with all applicable laws and regulations and you will notify us promptly of the action taken. All sums in any deposit account are subject to your right of setoff for any liabilities owed to you by any or all of the account holders to the fullest extent permitted by law. If you exercise your right of setoff against an account that is subject to an early withdrawal penalty, the account will be assessed the applicable early withdrawal penalty.

The Unclaimed Property Law requires that inactive account balances be remitted to the State Controllers office in my state if I have not:

1. Increased or decreased the amount of the account or presented an appropriate record for crediting of interest or dividends; or
2. Corresponded in writing with you concerning the account; or
3. Otherwise indicated an interest in the account as evidenced by a memorandum on file with you.

Information regarding my state's Unclaimed Property Law can be obtained by calling the State Controller's Office or visiting their website.

The Credit Union will make an effort to notify me in writing at the address on your records before any such transfer takes place. After such transfer, my funds can be reclaimed from the State Controller's Office upon presentation of adequate identification and proof of ownership.

The Credit Union reserves the right to charge a reasonable fee in its attempt to locate me.

Cash Transactions:

Pursuant to applicable law and regulation, I understand and agree that you are required to report large transactions in cash, coin or its equivalent.

Funds Transfers (Fedwire):

I agree that certain Funds Transfers sent from or received for my account may be completed by means of Fedwire. Such transfers are subject to federal law, Regulation J, as now in effect or hereafter amended. You are not my agent for purposes of receiving payment orders and you are under no duty to accept any payment order not required by regulation or as a result of your express agreement with me.

For purposes of establishing receipt of Fedwire Funds Transfers for processing, you have established a regular business day cut-off time of 2:00 P.M. Funds received after the cut-off time will be deemed received the next business day. Automated Clearing House (ACH) credits applied to my account are provisional until payment is actually received by the credit union. Notice of ACH payments received will be provided only on my member's periodic statement of account.

If I request a Funds Transfer to a beneficiary on the basis of a name and I.D. or account number, you may make payment relying solely on the I.D. or account number even if the number identifies a different beneficiary. If I request a payment order through you and provide you with the name and routing/transfer or other identifying number of a bank, a receiving bank may rely on that number even if it identifies a different bank.

I agree that notice of receipt of Funds Transfers to my account will only be provided in my member's periodic statement of account from you.

DISCLOSURE OF FUNDS AVAILABILITY POLICY

My Ability to Withdraw Funds at Xceed Financial Credit Union

I understand the Credit Union may place a hold for uncollected funds on an item I deposit. This could delay my ability to withdraw such funds.

Your general policy is to make funds from my deposits available to me on the first business day after the day you receive my deposit. At that time, I can withdraw funds in cash and you will use the funds to pay checks or transactions that I have written/authorized.

For determining the availability of my deposits, every day is a business day, except Saturdays, Sundays, and Federal Holidays. If I make a deposit before 2:00 PM on a business day that you are open, I will consider that to be the day of my deposit. However, if I make a deposit after 2:00 PM, or on a day you are not open, you may consider that the deposit was made on the next business day you are open.

LONGER DELAYS MAY APPLY

In some cases, you will not make all of the funds that I deposit by check available to me on the first business day after the day of my deposit, depending on the type of check that I deposit. However, the first $100 of my deposit will be available on the first business day.

If you are not going to make all of the funds from my deposit available on the first business day, you will notify me at the time I make my deposit. You will also tell me when the funds will be available. If my deposit is not made directly to one of your associates, or if you decide to take this action after I have left the premises, you will mail me the notice by the business day after you receive my deposit.

If I need the funds from a deposit right away, I should ask you when the funds will be available.

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

• You believe a check I deposited will not be paid.
• I deposit checks totaling more than $5000 in any one day.
• I redeposit a check that has been returned unpaid.
• I have overdrawn my account repeatedly in the last six months.
• There is an emergency, such as a failure of communications or computer equipment.

You will notify me if you delay my ability to withdraw funds for any of these reasons, and you will tell me when the funds will be available. They will generally be available no later than the eleventh (11th) business day after the day of my deposit.

DEPOSITS AT AUTOMATED TELLER MACHINES

Funds from any deposits (cash or checks) made at automated teller machines (ATMs) you do not own or operate will not be available until the fifth (5th) business day after the banking day of my deposit. This rule does not apply at ATMs that you do own or operate. All ATMs that you own or operate are identified as your machines.

SPECIAL RULES FOR NEW ACCOUNTS

If I open a new account, the following special rules will apply during the first 30 days my account is open.

The first $5000 from a deposit of U.S. Treasury checks will be available on the first business day after the day of my deposit. The excess of $5000 will be available on the ninth (9th) business day after the day of my deposit. Funds from wire transfers into my account will be available on the first business day after the day you receive the transfer. Funds from deposits of cash and the first $5000 of day's total deposits of cashier's, certified, teller's, traveler's, and state and local government checks will be available on the first business day after the day of my deposit if the deposit meets certain conditions; for example, the checks must be payable to me. The excess over $5000 will be available on the ninth (9th) business day after the day of my deposit.

Funds from all other check deposits will be available on the 30th business day after the day of my deposit.