Account Disclosure

	Account Disclosure

	Introduction

	This brochure contains the Disclosures and Agreements ("Agreement" or "Disclosure and Agreement") which govern your account(s) with us. Please read this brochure carefully. You agree that by signing any account signature card or share certificate you are subject to the terms and conditions stated herein, our by-laws, and any by-law amendments. You authorize us to contact and inquire of your references, your spouse, and your employer(s), past, present and future, to verify any information you have provided and to obtain consumer reports on you. You also authorize us to release information regarding the status and history of any of your accounts to others such as credit bureaus, merchants, and other financial institutions. You agree to pay the reasonable fees we charge and you give us the right to collect any fees, as earned, directly from your account balance. You will receive a separate Schedule of Rates, qualifying balances and fees if they are not included in this brochure. These separate documents are incorporated by reference herein. If you have any questions, please call us. This Agreement is subject to applicable federal laws and the laws of the state of California (except to the extent that this Agreement can and does vary from such rules or laws). We may permit some variations from the standard Agreement, but any variations must be agreed to in writing either on our signature card for the account or in some other written form. The Credit Union may delay enforcing its rights under this Agreement without losing them. Any waiver by the Credit Union shall not be deemed to be a waiver of other rights or of the same rights at another time. In this brochure, the words "credit union", "we", "our," and "us" mean Toyota Federal Credit Union. The words "you" and "your" mean the owner(s) of the account(s) as referenced by the most recent signature card on file with us and any agent designated by you to act on your behalf with regard to transactions processed on the account. To become a member in Toyota Federal Credit Union you must open and maintain a primary savings account. You must be a member in order to use other existing Credit Union products and services. To open any account at the Credit Union, you must fill out an applicable information sheet, provide the required identification, sign all applicable account cards and other necessary documents, all of which are fully incorporated by reference herein.

	General Information

	Liability
	You agree (including agent you designate to represent you) to the terms of this Disclosure and Agreement and the Schedule of Rates and the Schedule of Fees that we impose. You authorize us to deduct these fees directly from your account balance. You also agree to pay reasonable additional charges we may impose for services you request whether or not covered by this Agreement. You also agree to be jointly and individually liable for any account deficit and our costs to collect the deficit including attorney's fees incurred in enforcing this Agreement whether or not the matter is litigated. You agree that, at our option, we may suspend services to you if you violate the terms of this Agreement. You, or any joint owner, may terminate your account(s) at any time. You understand that any authority you provided to us may not be changed or terminated except by written notice to us, which will not affect any transactions prior to our receipt of your notice. Removal of a joint owner from an account requires written consent from all signers on the account You agree that we may impress and enforce a lien on any or all of the shares on deposit (except IRA accounts) in any account held by you, whether individually or jointly, to the extent of any loan(s) with us, subject to current loan policies and for fees and charges due to us. Also, the law provides that under certain circumstances we may apply funds on deposit in your account(s) to satisfy a debt you owe us which is not paid when due. If we exercise this right, we will advise you and identify the account from which funds are transferred, the debt to which they were applied and the balance after the transfer in each of these accounts.[NS1] The provisions for bank deposits and collections in the California Uniform Commercial Code (UCC)) shall apply to transactions affecting this Account and the term "bank" shall include the Credit Union for the purpose of applying the UCC to this agreement.

	Membership Fee
	There is a one-time, nonrefundable membership fee, which is paid when you open your Share Account (See Fee Schedule). Once you become a member of Toyota Federal Credit Union, you may always remain a member; however, Toyota Federal Credit Union has the right to terminate the membership of anyone who fails to comply with our bylaws; causes a loss to the membership; causes willful destruction or damage to Credit Union property or acts without civility in all dealings with officers and employees.

	Deposits
	All non-cash items received for deposit to any account will be given provisional credit only until collection is final. We are not responsible for transactions initiated by mail or outside depository until we actually record them. We may endorse checks for you that we receive for deposit without your endorsement. Unless otherwise agreed, you waive any right to receive any original item after it is paid.

	Withdrawals
	We may pay out funds or transact business pertaining to any account upon the signature of any one of the account owners or upon the signature(s) of any designated agent(s). We may charge against your account a check, even though payment was made before the date of the check, unless you have given us written notice of the postdating in accordance with the California Uniform Commercial Code (UCC). The fact that we may honor withdrawal requests that overdraw the finally collected account balance does not obligate us to do so. Withdrawals will first be made from collected funds, and we may, unless prohibited by law or our written policy, refuse any withdrawal request against uncollected funds, even if our general practice is to the contrary. We reserve the right to refuse any withdrawal or transfer request that is attempted by any method not specifically permitted, which is for an amount less than any minimum withdrawal requirement, or which exceeds any frequency limitation. Even if we honor a nonconforming request, repeated abuse of the stated limitations (if any) may eventually force us to close your account. We will use the date a transaction is completed by us (as opposed to the day you initiate it) to apply the frequency limitations.

	Large Currency Transactions
	Federal law requires us to report to the Department of the Treasury, Internal Revenue Service, certain large transactions in currency. We may report other transactions at our discretion.

	Credit Union Official Checks
	Official Checks issued by any office or department of the Credit Union are good for 90 days from the date of issue. After that time, they are considered void. They can be exchanged for replacement checks. However, per California state law (Unclaimed Property Act), financial institutions are required to transfer to the state all monetary instruments that have not been negotiated after five years.

	Pledges
	Any pledge of shares/funds in an account must first be satisfied before the rights of any joint account survivor, pay-on-death beneficiary, or trust account beneficiary becomes effective.

	Telephone Transfers
	A telephone transfer of funds from one account to another account with us, if otherwise permitted or arranged for, may be made by the same persons and under the same conditions applicable to withdrawals made in writing.

	Amendments And Termination
	The Credit Union has the right to terminate any Agreement or change its terms, conditions, requirements, charges or fees at any time upon sending written notice to you at the primary accountholders address of record. We reserve the right to close your accounts if your membership in the Credit Union terminates. You agree to keep us informed about your current address at all times. Notice from us to any one of you is notice to all of you.

	Statements
	Statements on accounts with checking, strategic market accounts or any account with EFT activity will be mailed monthly to the primary address shown on the credit union records. Accounts with regular share accounts only, will be mailed quarterly to the primary address shown on the credit union records. You must examine your statement of account with "reasonable promptness." If you discover (or reasonably should have discovered) any unauthorized payments or alterations, you must promptly notify us of the relevant facts. If you fail to do either of these duties, you will have to either share the loss with us, or bear the loss entirely yourself (depending on whether we exercised ordinary care and, if not, whether we substantially contributed to the loss). The loss could be not only with respect to items on the statement but also other items forged or altered by a wrongdoer. You agree that the time you have to examine your statement and report to us will depend on the circumstances, but you must notify us of suspected errors within the time limits set forth in the "UCC" or you will be precluded from any action against us. You further agree that if you fail to report any unauthorized signatures, alterations, forgeries or any other errors in your account within 60 days of when we make the statement available, you cannot assert a claim against us on any items in that statement, and the loss will be entirely yours. This 60-day limitation is without regard to whether we exercised ordinary care.

	Account Transfer
	This account may not be transferred or assigned without our prior written consent.

	Direct Deposits
	If you authorize direct deposit to your account and we deposit an amount in your account which should need to be returned for any reason, you authorize us to deduct the amount of our liability from this account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability.

	ACH and Wire Transfers
	ACH and wire transfers you instruct us to make on your behalf are subject to Article 4A of the Uniform Commercial Code (UCC) - Funds Transfers, as adopted in California and Regulation J. If you originate a funds transfer for which Fedwire is used, and you identify by name and number a beneficiary financial institution, an intermediary financial institution or a beneficiary, we and every receiving or beneficiary financial institution may rely on the identifying number to make payment. We may rely on the number even if it identifies a financial institution, person or account other than the one named. You agree to be bound by Automated Clearing House (ACH) Rules. These Rules provide, among other things, that payment made to you, or originated by you, are provisional until final settlement is made through the Federal Reserve Bank or payment is otherwise as provided in Article 4 A-403 (a) of the UCC. If we receive a credit to an account you have with us by Fedwire or ACH, we are not required to give you any notice of the payment order or credit. We reserve the right to process checks electronically by transmitting the amount of the check, the routing number, account number and check serial number to your bank. If we choose to utilize this option, by submitting a check for payment or deposit you authorize Toyota Federal Credit Union to initiate an ACH (electronic) debit from your account.

	Dormant Accounts
	If no monetary activity or no contact from you occurs on an account for a period of 12 months, regardless of the aggregate balance, the account is considered dormant and will be locked-out while we make every attempt to contact you.

	Fictitious Business Name Accounts
	If the name in which the account is held is fictitious, each owner represents that one or more of the owners have the right to use that name and have fulfilled all legal requirements for using and/or doing business under that name. A DBA form must be on file with the Credit Union.

	Unclaimed Property
	Your shares and dividends may be sent to the State of California, Office of the State Controller, Division of Unclaimed Property, if there has been no activity (account transactions/member contact) on your account(s) for three (3) years. (Automatic posting of dividends and loan transactions are not considered an account transaction.) Any correspondence on any one of your accounts will stop the escheat process on all of your accounts. You may recover the escheated funds by writing to the California State Controller's Office. (California law governs this and all other applicable aspects of account regulation, regardless of the state of your residency, as the funds are considered to be housed in California.)

	Restrictive Legends
	We are not required to honor any restrictive legend on items you write unless we have agreed to the restriction in writing signed by an officer of the Credit Union. Examples of restrictive legends are "must be presented within 90 days" or "not valid for more that $1,000" or "loan paid in full."

	Facsimile Signatures
	You authorize us, at any time, to charge you for all checks, drafts, or other orders, for the payment of money, that are drawn on us regardless of by whom or by what means the facsimile signature(s) may have been affixed so long as they resemble the facsimile signature specimen on the signature card or that are filed separately with us.

	Credit Verification
	You agree that we may verify credit and employment history by any necessary means, including preparation of a credit report by a credit-reporting agency.

	Right To Repayment Of Indebtedness
	You agree that we may impress and enforce a lien on any or all of the shares on deposit (except IRA accounts) in any account on which you are an owner, whether individually or jointly, to the extent of any loan(s) with us, subject to current loan policies and for fees and charges due to us. Also, the law provides that under certain circumstances we may apply funds on deposit in your account(s) to satisfy a debt you owe us which is not paid when due. If we exercise this right, we will advise you and identify the account from which funds are transferred, the debt to which they were applied and the balance after the transfer in each of these accounts. We will not be liable for the dishonor of any check or draft when the dishonor occurs because we charge and deduct an amount you owe us from your account. You agree to hold us harmless from any claim arising as a result of our exercise of our right to repayment.

	Agents
	An agent is someone who you authorize to have access to your account on your behalf. (We have no duty or agreement whatsoever to monitor or insure that the acts of the agent are for your benefit.) This may be done by written notification from you allowing the agent to sign on the account as an authorized signer or by separate form (such as a power of attorney). An agent is not an owner of the account. We will allow agents to be appointed only on individual accounts unless each owner of a joint account agrees to the appointment in writing. We may refuse to accept an agent or an agency account.

	Levies/Withhold Orders/Judgements Attachments/Garnishments/Bankruptcy
	Based on the receipt of any of the above documents, financial institutions are required to surrender funds belonging to members in accordance with the amount and date specified. When we receive a levy or similar order, we will send a copy to you the same date it is received. If we do not receive a release or withdrawal from the levying agency (IRS, Franchise Tax Board, court, etc.) prior to the day the funds are to be remitted, we are obligated to surrender the funds from your account(s) and any accounts on which you may be a joint owner, to the levying agency. As we are merely the depository institution, and we make no decisions and have no information concerning the merits of the case, any disputes regarding such issues must be addressed to the levying agency, not to the Credit Union. Funds held in retirement accounts may also be subject to levy, unless the document contains language specifically exempting such accounts or law otherwise exempts the account. Additionally, any penalties or loss of dividends due to early certificate withdrawal will apply.

	Monitoring And Recording Telephone Calls
	We may monitor or record phone calls for security reasons and to ensure that you receive courteous and efficient service. You consent in advance to any such recording. We need not remind you of our recording before each phone conversation.

	Ownership Of Account And Beneficiary Designation
	The following terms and conditions govern the ownership of your accounts with your beneficiary designations, and us if any, on your accounts. We reserve the right to refuse some forms of ownership on any or all accounts with us.

	Individual Account
	This account is issued to one person who does not intend (merely by opening this account) to create any survivorship rights in any other person.

	Joint Account
	Every person signing the signature card is an owner of the account and the account is held in joint tenancy with right of survivorship. Upon the death of any owner, ownership of the account passes to the surviving joint tenant(s) named on the signature card. All owners agree that all sums now paid in or hereafter paid in by any one owner, including dividends, if any, are and shall be owned by all account owners jointly and equally, regardless of their net contributions, with right of survivorship. We may pay out funds upon the signature of any one of the account owners or upon the signature of any designated agent. We are not obligated to inquire as to the proposed use of any funds withdrawn for the purpose of establishing net contributions. The right of survivorship cannot be changed by a will.

	Payable on Death (P.O.D.) Beneficiary Designation
	If you have listed a pay-on-death payee on the signature card, all sums in the account are payable to you upon your request during your lifetime and upon your death, to your designated P.O.D. payee; or if your 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 amounts. As between P.O.D. payees, there is no right of survivorship[NS4]. The beneficiary cannot be changed by a will.

	Totten Trust Account
	This account is open "in trust" for the beneficiaries named on the signature card and there is no separate trust document for this type of account. If two or more of you open this account, you own the account jointly with right of survivorship during your lifetime regardless of your net contributions to the account. You have reserved the right to (1) change beneficiaries; (2) change account types or revoke the trust at any time by executing and delivering to us a new signature card; (3) withdraw any sums on deposit including dividends. In the event of your death or, if the account is held by more than one person, the death of your survivor, we shall pay the sums in such account to the beneficiary designated on the signature card, if then living (if more than one beneficiary is designated then equally to those beneficiaries living at the date of your death or the death of your survivor), but if there is no surviving beneficiary, we shall pay the sums to your estate or the estate of your survivor. There is no right of survivorship between beneficiaries. The right of survivorship or beneficiary designation cannot be change by a will.

	Trust Account
	A trustee in connection with a separate written trust document establishes this type of account. We may require you to provide us with a notarized trust certification, confirming your power as trustee, prior to opening the account. We are not required to request this certification and we have third party protection if we act in good faith and without actual knowledge that the trustee is exceeding his/her powers. We are not required to know, understand, interpret or enforce the terms of any trust document that may be provided to us.

	Uniform Transfer to Minors Act (UTMA) Account
	This account is utilized when transfers of property to a minor, supervised by an adult (usually a parent acting as a custodian) are made. The custodianship ends when the child reaches legal age. We are not required to administer, monitor or supervise activity on this account. The custodian is opening the account as custodian for the minor named on the signature card or share certificate under UTMA. The transfer of money to the minor named on the signature card or share certificate, which transfer shall be deemed to include all dividends and any future additions thereto, is irrevocable and is made in accordance with the laws of the State of California governing UTMA transfers. The successor custodian named on the signature card or share certificate shall serve if you become unable to act as custodian because you resign or become legally incapacitated.

	Fiduciary Accounts
	If you open this type of account, you are demonstrating to us that you are duly appointed and acting in the capacity of executor/executrix, administrator/administratrix, guardian or conservator. By the authority vested in you, you are acting individually or jointly, authorized and empowered to transact business of any character. You may pledge any or all shares on deposit in the account as collateral security to any loan(s) subject to then current loan policies.

	Organizational Account
	Such accounts are issued in the name of an organization rather than an individual such as a corporation, partnership, limited liability company, association (club or league). The persons named on the signature card or share certificate certify to us that at a regularly held meeting of the organization they were empowered to transact business of any nature in the account including the pledge of shares on deposit in the account as collateral security for any loans subject the current loan policies. We reserve the right to require the governing body of the organization to give us a separate authorization telling us who is authorized to act on its behalf.