Member Services Agreement - NASA Federal Credit Union

the primary account holder, however, we reserve the right in our discretionto require the consent of all joint account owners for termination of ajoint account; or for Business Accounts, any authorized signer. Closing anaccount does not release the owner(s) from the obligation to pay accruedfees or from liability for orders. Accounts may not be closed if there are anyaccounts pledged as collateral and/or unpaid loans owed to us until securitysatisfactory to us has been arranged. We are not responsible for paymentof any order after an account is closed. We may but are not required to givenotice to you requiring you to withdraw the entire amount on deposit in youraccount(s) because we plan to close your account(s). Such notice shall alsoadvise you that we reserve the right after the date specified in our noticenot to make payment on any order drawn on your account. After the datespecified, we will not be obligated to make any payment from such accountexcept for the purpose of closing your account(s). If you are a member ofthe Credit Union and all of your accounts are closed, you will cease to be amember.Members (including joint owners and co-signers) may lose their goodstanding, and may be denied benefits for certain infractions, including butnot limited to: default on a loan; causing any monetary loss to the CreditUnion; or abusive or inappropriate behavior in a Credit Union office or whileconducting business with a Credit Union employee. We reserve the right tosuspend Services and/or terminate accounts of members, including theirduly authorized representative(s), when they lose their good standing orotherwise misuse or abuse such Services or accounts. We also may suspendaccount activity if you do not provide account documentation or newmembership applications as requested by us.Members may be expelled by majority vote of a quorum of the Board ofDirectors of the Credit Union for non-participation, which includes, but isnot limited to, failure to use share, loan or other Services for a prolongedperiod. Members, joint owners, authorized signers, and co-signers also maybe expelled from the Credit Union if they default on a loan or cause a loss tothe Credit Union for unpaid fees or other charges. A Special Meeting of themembership will be held at the discretion of the Board of Directors to expelmembers who have caused a monetary loss to the Credit Union. Approvalto expel members requires a two-thirds vote of the members present atthe meeting. A notice of the Special Meeting will be sent by U.S. mail tomembers identified for expulsion from the Credit Union. Members may avoidexpulsion by repaying their obligations to the Credit Union.In addition, membership in the Credit Union will be terminated if a memberfails to complete payment of one share within 30 days of admission tomembership, does not make a deposit sufficient to cover any increase in thevalue of one share, or the member’s share balance is reduced below the par21