Anheuser‐Busch Employees’ Credit Union American Eagle Credit Union and Purina Credit Unions (divisions of Anheuser‐Busch Employees’ Credit Union)
Checking Agreement: For checking agreement purposes, “I”, “we”, and “me” mean account owner(s) and “Credit Union” means Anheuser‐Busch Employees’ Credit Union or American Eagle Credit Union. I/we hereby authorize the Credit Union to establish a Checking Account. The Credit Union is authorized to pay checks signed by me or any joint owner as identified on my Membership Agreement and charge the Checking Account and to debit my/our account for other authorized transactions. It is agreed that: 1. Only blank checks and other methods approved by the Credit Union may be used to withdraw funds from this Checking Account. 2. The Credit Union is under no obligation to pay a check or debit the account when it exceeds the balance in the Checking Account. If an item is returned for non‐sufficient funds (NSF), an NSF fee will be assessed. 3. Overdrafts created in the Checking Account can be offset from funds in any other Savings or Checking Account from which the primary or joint account holder is entitled to withdraw funds. 4. The Credit Union is under no obligation to pay a check on which the date is more than six (6) months old. 5. Except for negligence on behalf of the Credit Union, the Credit Union is not liable for any action it takes regarding the payment or nonpayment of a check or other authorized debit. 6. All non‐cash items deposited to the Checking Account will be credited subject to final payment. 7. This agreement is subject to the other items and conditions as the Credit Union may establish from time to time for Checking Accounts. This agreement is subject to any additional terms and conditions of any Savings Account agreements that apply to a Saving Account held in my name or in joint names. In order to avoid NSF fees, a transfer of funds from the Primary Savings Account will be made if funds are available as Overdraft Protection. Additional Overdraft Protection may be available via a Line of Credit (LOC). I/we understand I/we must apply for a LOC and it is subject to approval based upon the current underwriting criteria of the Credit Union. If the Checking Account qualifies for the Paid NSF Program, the check/debit may be paid and assessed a paid NSF fee. See further information related to the Paid NSF Program below. Paid NSF Program: Depending on qualifying conditions described herein, a check, ACH, or debit card withdrawal drawn on your credit union checking account may be paid in the event it overdrafts your account. Checks presented to a Credit Union teller are not eligible for the Paid NSF Program. For Paid NSF Program purposes, “you” and “your” mean account owner(s) and ”Credit Union” means Anheuser‐Busch Employees’ Credit Union or American Eagle Credit Union. Alternatives – Your least costly method of assuring funds will be available for payment is for you to diligently record all transactions and balances in your records. The Credit Union does offer Overdraft Protection via a transfer arrangement from your Credit Union Savings Account or Line of Credit Account. This arrangement can protect you from account overdrafts and is normally a lower cost solution. As a final protection, if you qualify, the Paid NSF Program may pay your item. The Paid NSF Program requires no accountholder action. Accounts meeting the qualifying conditions described herein automatically participate in the Program. No agreement needs to be signed, and it costs nothing unless the Program is used – by initiating checks, electronic funds transfers or other payment or withdrawal requests for more than is on deposit in your account and/or Overdraft Protection Accounts. This Program is at the discretion of the Credit Union and the Program can be terminated at any point in time without given advance notice to you.
Qualifying Conditions – To qualify for the Paid NSF Program, your account must have been open at least 30 days, had negative balance no longer than 10 days, had no more than 20 paid NSFs, month to date, and have no loans past due over 15 days. The negative balance, after payment of the item, will not be allowed to exceed $750 for members earning No Benefits in the Member Merits Program, $1,000 for those members earning Silver Benefits and $1,500 for those members earning the Gold Benefits. (Member Merits Program is a household relationship program based on combined loan and deposit balance. See Member Merits brochures for complete reward and program details.) Fee assessment and notice ‐ If the Credit Union pays the overdrawn check, transfer or withdrawal, you will be charged a fee for the insufficient funds and cost of our processing the overdraft , but you will avoid any merchant or other third party returned item fees. You will be notified by mail of any non‐sufficient funds items paid or returned and the amount need to correct the negative balance. Refer to our separate service charge schedule for additional information about charges. Repayment –If you have a negative balance, the Credit Union expects you to bring the account to a positive balance quickly. If the negative balance is left unresolved for 30 days, account access limitations will be imposed. Payment order – The Credit Union pays electronic items presented against your account in the order received. Checks received each day are posted to your account to pay the smallest item first. Suspension from Paid NSF – You may be suspended from the Program if you fail to meet the qualifying conditions, described herein, or if your account is negative, you filed for bankruptcy protection, or the account has suspicious activity, such as check kiting. Opt‐Out – You may decide that you do not want to participate in the Paid NSF Program. If you receive a direct deposit of social security or other federal benefit check, you must opt‐out if you do not want the Credit Union to apply those funds to repay an overdraft. After notifying the Credit Union, it will take 3 business days after receipt of your notice to process your request to opt‐out. After your account is so marked, all subsequent overdraft items will be returned unpaid to the payee. This opt‐out procedure does not apply to individual items on which you may decide to “stop payment”. At your request, the Credit Union can place a stop payment on individual items without impacting an opt‐out on your entire account. To opt‐out of the Program, call or write your local Credit Union branch office or call (314) 771‐7700 or (800) 325‐9905 extension 8842. Anheuser‐Busch Employees’ Credit Union & Division 1001 Lynch Street, St. Louis, MO 63118 www.abecu.org www.ameaglecu.org www.purinauc.org 07/15
