TERMS AND CONDITIONS OF YOUR ACCOUNT
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 you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
This document, along with any other documents we give you pertaining to your account(s), is a contract that establishes rules which control your account(s) with us. Please read this carefully. If you sign the signature card or open or continue to have your account with us, you agree to these rules. You will receive a separate schedule of rates, qualifying balances, and fees if they are not included in this document. If you have any questions, please call us.
This agreement is subject to applicable federal laws and the laws of the state of Wisconsin (except to the extent that this agreement can and does vary such rules or laws). The body of state and federal law that governs our relationship with you, however, is too large and complex to be reproduced here. The purpose of this document is to:
1) summarize some laws that apply to common transactions;
2) establish rules to cover transactions or events which the law does not regulate;
3) establish rules for certain transactions or events which the law regulates but permits variation by
4) give you disclosures of some of our policies to which you may be entitled or in which you may be
If any provision of this document is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect. We may permit some variations from our standard agreement, but we must agree to any variation in writing either on the signature card for your account or in some other document.
As used in this document the words "we," "our," and "us" mean the financial institution and the words "you" and "your"
mean the account holder(s) and anyone else with the authority to deposit, withdraw, or exercise control over the funds
in the account. The headings in this document are for convenience or reference only and will not govern the interpretation
of the provisions. Unless it would be inconsistent to do so, words and phrases used in this document should be construed
so the singular includes the plural and the plural includes the singular.
You agree, for yourself (and the person or entity you represent if you sign as a representative of another)
to the terms of this account and the schedule of charges. You authorize us to deduct these charges directly from
the account balance as accrued. You will pay any additional reasonable charges for services you request which are
not covered by this agreement.
Each of you also agrees to be jointly and severally (individually) liable for any account shortage resulting from
charges or overdrafts, whether caused by you or another with access to this account. This liability is due immediately,
and can be deducted directly from the account balance whenever sufficient funds are available. You have no right to
defer payment of this liability, and you are liable regardless of whether you signed the item or benefited from
the charge or overdraft. This includes liability for our costs to collect the deficit including, to the extent
permitted by law, our reasonable attorneys' fees.
We will give only provisional credit until collection is final for any items, other than cash, we accept
for deposit (including items drawn "on us"). Actual credit for deposits of, or payable in, foreign currency will
be at the exchange rate in effect on final collection in U.S. dollars. We are not responsible for transactions
by mail or outside depository until we actually record them. We will treat and record all transactions received
after our "daily cutoff time" on a business day we are open, or received on a day we are not open for business,
as if initiated on the next following business day that we are open.
We may require not less than 7 days' notice in writing before each withdrawal from an interest-bearing account
other than a time deposit, or from any other savings account as defined by Regulation D. Withdrawals from a time
account prior to maturity or prior to any notice period may be restricted and may be subject to penalty. See your
notice of penalty for early withdrawal.
Unless clearly indicated otherwise on the account records, any of you, acting alone, who signs in the space
designated for signatures on the signature card may withdraw or transfer all or any part of the account balance
at any time. Each of you (until we receive written notice to the contrary) authorizes each other person signing
the signature card to indorse any item payable to you or your order for deposit to this account or any other
transaction with us. We may charge your account for a check even though payment was made before the date of the
check, unless we have received written notice of the postdating in time to have a reasonable opportunity to act.
We may refuse any withdrawal or transfer request which you attempt on forms not approved by us, by any method we
do not specifically permit, which is greater in number than the frequency permitted, or which is for an amount
greater or less than any withdrawal limitations. Even if we honor a nonconforming request, we may treat continued
abuse of the stated limitations (if any) as your act of closing the account. We will use the date the transaction
is completed by us (as opposed to the date you initiate it) to apply the frequency limitations. The fact that
we may honor withdrawal requests that overdraw the available account balance does not obligate us to do so later.
See the funds availability policy disclosure for information about when you can withdraw funds you deposit.
For those accounts for which our funds availability policy disclosure does not apply, you can ask us when you
make a deposit when those funds will be available for withdrawal.
Earnings in the form of interest, dividends, or credits will be paid only on collected funds, unless otherwise
provided by law or our policy. We may require the governing body of the legal entity opening the account to give
us a separate authorization telling us who is authorized to act on its behalf. We will honor the authorization
until we actually receive written notice of a change from the governing body of the legal entity.
We will require a separate authorization document designating the person(s) authorized to make and conditions
required for withdrawals from any account in the name of a legal entity such as a partnership, corporation or
other organization. We will honor such authorization according to its terms until we receive written notice
that it is amended or terminated by the governing body of such organization. Generally, federal law limits the
availability of NOW accounts to individuals, sole proprietorships, nonprofit organizations operated primarily
for religious, philanthropic, charitable, educational, political or other similar purposes, governmental units
and funds held in fiduciary capacity. If you have requested such an account you represent to us that you satisfy
the eligibility requirements, and that you will not assign the account to any person who does not satisfy the
You must make any stop-payment order in the manner required by law and we must receive it in time to give us a
reasonable opportunity to act on it before our stop-payment cutoff time. To be effective, your stop-payment order
must precisely identify the number, date and amount of the item, and the payee.You may stop payment on any item drawn on your account whether you sign the item or not, if you have an equal or
greater right to withdraw from this account than the person who signed the item. A release of the stop-payment
request may be made only by the person who initiated the stop-payment order.
Our stop-payment cutoff time is one hour after the opening of the next banking day after the banking day on
which we receive the item. Additional limitations on our obligation to stop payment are provided by law (e.g.,
we paid the item in cash or we certified the item).
Official Bank Checks
If you ask us to stop payment on a lost, destroyed or stolen cashiers check, teller's check or certified check
on which you are the remitter or the payee or the drawer, we will require you to provide a written declaration of
loss describing the item with reasonable certainty. We must be given a reasonable time to act on the declaration
before the item is paid. Your claim is not enforceable until the 90th day after we issued or certified the check
and until that time will pay the check to any person entitled to enforce it. Our payment of a check to a person
entitled to enforce it discharges us of all liability with respect to the check. Such person may have a claim
against you after the 90th day and after we have paid you.
A telephone transfer of funds from this account to another account with us, if otherwise arranged for or
permitted, may be made by the same persons and under the same conditions generally applicable to withdrawals
made in writing. Unless a different limitation is disclosed in writing, we restrict the number of transfers
from a savings account to another account or to third parties, to a maximum of six per month (less the number
of "preauthorized transfers" during the month). Other account transfer restrictions may be described elsewhere.
Amendments and Termination
We may change any term of this agreement. Rules governing changes in interest rates are provided separately.
For other changes, we will give you reasonable notice in writing or by any other method permitted by law. We may
also close this account at any time upon reasonable notice to you and tender of the account balance personally or
by mail. Notice from us to any one of you is notice to all of you.
You must examine your statement of account with "reasonable promptness." If you discover (or reasonably
should have discovered) any unauthorized signatures or alterations, you must promptly notify us of the relevant
facts. As between you and us, 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 used 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
other items with unauthorized signatures or alterations by the same wrongdoer.You agree that the time you have to examine your statement and report to us will depend on the circumstances,
but will not, in any circumstance, exceed a total of 30 days from when the statement is first sent or made
available to you.
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 first send or make the statement available, you cannot assert a
claim against us on any items in that statement, and as between you and us the loss will be entirely yours.
This 60-day limitation is without regard to whether we used ordinary care. The limitation in this paragraph
is in addition to that contained in the first paragraph of this section.
This account may not be transferred or assigned without our prior written consent.
If, in connection with a direct deposit plan, we deposit any amount in an account which should have been
returned to the Federal Government for any reason, you authorize us to deduct the amount of our liability
to the Federal Government from the 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.
Temporary Account Agreement
If this option is selected, this is a temporary account agreement. Each person who signs in the space
designated for signatures on the signature card (except as indicated to the contrary) may transact business
on this account. However, we may at some time in the future restrict or prohibit further use of this account
if you fail to comply with the requirements we have imposed within a reasonable time.
We may (without prior notice and when permitted by law) set off the funds in this account against any due and
payable debt you owe us now or in the future, by any of you having the right of withdrawal, to the extent of
such persons' or legal entity's right to withdraw. If a joint or P.O.D. account requires the signatures of all
of the parties for purposes of withdrawal then the account shall be subject to setoff to the extent of the net
contributions of the debtor party to the account. If the debt arises from a note, "any due and payable debt"
includes the total amount of which we are entitled to demand payment under the terms of the note at the time
we set off, including any balance the due date for which we properly accelerate under the note.
This right of setoff does not apply to this account if: (a) it is an IRA or other tax-deferred retirement
account, or (b) the debt is created by a consumer credit transaction under a credit card plan (but this does
not affect our rights under any consensual security interest), or (c) the debtor's right of withdrawal only
arises in a representative capacity. We will not be liable for the dishonor of any check when the dishonor
occurs because we set off a debt against this account. You agree to hold us harmless from any claim arising
as a result of our exercise of our right of setoff.
We are not required to honor any restrictive legend on checks you write unless we have agreed in writing
to the restriction. Examples of restrictive legends are "must be presented within 90 days" or "not valid for
more than $1,000.00."
Payment Order of Items
If we accept a payment order you give us, we may receive payment by automatically deducting from any authorized account the amount of the payment order plus the amount of any expenses and charges for our services in execution of your payment order. We are entitled to payment on the payment or execution date. Unless your payment order specifies otherwise, the payment or execution date is the funds transfer date we receive the payment order. The funds transfer is completed upon acceptance by the beneficiary’s bank. Your obligation to pay your payment order is excused if the funds transfer is not completed, but you are still responsible to pay us any expenses and charges for our services. However, if you told us to route the funds transfer through an intermediate bank, and we are unable to obtain a refund because the intermediate bank that you designated has suspended payments, then you are still obligated to pay us for the payment order. You will not be entitled to interest on any refund you receive because the beneficiary’s bank does not accept the payment order.
We are not obligated to, but may at our option, pay a check, other than a certified check, presented for payment
more than six months after its date. If you do not want us to pay a stale-dated check, you must place a stop-payment
order on the check in the manner we have described elsewhere.
Post-Dated Check Notice
Fees for post-dated check notices are included in our fee schedules. We will not have a duty to act on a
post-dated check notice until you have given us both the number and the exact amount of the item as well as the
date it was written and the name of the payee and we have had a reasonable opportunity to take action prior to
payment of the item. All oral notices will expire after 14 calendar days from the date we receive the notice
unless you confirm the notice in writing to us at our address within the 14-day period. Written notices will be
effective for six months from the date of the written notice unless you renew the notice in writing to us at our
address for another six months.
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 filed with us, and contain the required number of signatures
for this purpose.
Truncation, Substitute Checks, and Other Check Images
If you truncate an original check and create a substitute check, or other paper or electronic image of the
original check, you warrant that no one will be asked to make payment on the original check, a substitute check
or any other electronic or paper image, if the payment obligation relating to the original check has already been
paid. You also warrant that any substitute check you create conforms to the legal requirements and generally
accepted specifications for substitute checks. You agree to retain the original check in conformance with our
internal policy for retaining original checks. You agree to indemnify us for any loss we may incur as a result
of any truncated check transaction you initiate. We can refuse to accept substitute checks that have not
previously been warranted by a bank or other financial institution in conformance with the Check 21 Act.
Unless specifically stated in a separate agreement between you and us, we do not have to accept any other
electronic or paper image of an original check.
The terms used in this section have the meaning given to them in Article 4A of the Uniform Commercial Code -
Funds Transfers (UCC 4A). This section will generally not apply to you if you are a consumer. However, even if
you are a consumer, this section will apply to that part of any funds transfer that is conducted by Fedwire.
This section is subject to UCC 4A as adopted in the state in which you have your deposit with us. This agreement
is also subject to all clearing house association rules, rules of the Board of Governors of the Federal Reserve
System and their operating circulars. If any part of this agreement is determined to be unenforceable, the rest
of the agreement remains effective. This agreement controls funds transfers unless supplemented or amended in a
separate written agreement signed by us.
A funds transfer is the transaction or series of transactions that begin with the originator's payment order,
made for the purpose of making payment to the beneficiary of the order. A funds transfer is completed by the
acceptance by the beneficiary's bank of a payment order for the benefit of the beneficiary of the originator's
order. Generally, a funds transfer does not include any transaction if any part of the transfer is covered by
the Electronic Fund Transfer Act of 1978, as amended from time to time. You may give us a payment order orally,
electronically, or in writing, but your order cannot state any condition to payment to the beneficiary other
than the time of payment.
An authorized account is a deposit account you have with us that you have designated as a source of payment of
payment orders you issue to us. If you have not designated an authorized account, any account you have with us is
an authorized account to the extent that payment of the payment order is not inconsistent with the use of the account.
Acceptance of Your Payment Order
We are not obligated to accept any payment order that you give us, although we normally will accept your payment
order if you have a withdrawable credit in an authorized account sufficient to cover the order. If we do not execute
your payment order, but give you notice of our rejection of your payment order after the execution date or give you
no notice, we are not liable to pay you as restitution any interest on a withdrawable credit in a
Payment of your order
If we do not receive your payment order or communication canceling or amending a payment order before our
cutoff time on a funds transfer day for that type of order or communication, the order or communication
will be deemed to be received at the opening of our next funds transfer business day.
If we accept a payment order you give us, we may receive payment by automatically deducting from any authorized
account the amount of the payment order plus the amount of any expenses and charges for our services in execution
of your payment order. We are entitled to payment on the payment or execution date. Unless your payment order
specifies otherwise, the payment or execution date is the funds transfer date we receive the payment order.
The funds transfer is completed upon acceptance by the beneficiary's bank. Your obligation to pay your payment
order is excused if the funds transfer is not completed, but you are still responsible to pay us any expenses
and charges for our services. However, if you told us to route the funds transfer through an intermediate bank,
and we are unable to obtain a refund because the intermediate bank that you designated has suspended payments,
then you are still obligated to pay us for the payment order. You will not be entitled to interest on any refund
you receive because the beneficiary's bank does not accept the payment order.
As described more fully in a separate writing, the authenticity of a payment order or communication
canceling or amending a payment order issued in your name as sender may be verified by a security procedure.
You affirm that you have no circumstances which are relevant to the determination of a commercially reasonable
security procedure unless those circumstances are expressly contained in a separate writing signed by us.
You may choose from one or more security procedures that we have developed, or you may develop your own security
procedure if it is acceptable to us. If you refuse a commercially reasonable security procedure that we have offered
you, you agree that you will be bound by any payment order issued in your name, whether or not authorized, that we
accept in good faith and in compliance with the security procedure you have chosen.
Duty to report unauthorized or erroneous payment
You must exercise ordinary care to determine that all payment orders or amendments to payment orders that we
accept that are issued in your name are authorized, enforceable, in the correct amount, to the correct beneficiary,
and not otherwise erroneous. If you discover (or with reasonable care should have discovered) an unauthorized,
unenforceable, or erroneously executed payment order or amendment, you must exercise ordinary care to notify us of
the relevant facts. The time you have to notify us will depend on the circumstances, but that time will not in any
circumstance exceed 14 days from when you are notified of our acceptance or execution of the payment order or amendment
or that your account was debited with respect to the order or amendment. If you do not provide us with timely notice
you will not be entitled to interest on any refundable amount. If we can prove that you failed to perform either of
these duties with respect to an erroneous payment and that we incurred a loss as a result of the failure, you are
liable to us for the amount of the loss not exceeding the amount of your order.
If your payment order identifies an intermediate bank, beneficiary bank, or beneficiary by name and number,
we and every receiving or beneficiary bank may rely upon the identifying number rather than the name to make
payment, even if the number identifies an intermediate bank or person different than the bank or beneficiary
identified by name. Neither we nor any receiving or beneficiary bank have any responsibility to determine
whether the name and identifying number refer to the same financial institution or person.
Record of oral or telephone orders
You agree that we may, if we choose, record any oral or telephone payment order or communication
of amendment or cancelation.
Notice of credit
If we receive a payment order to credit an account you have with us, we are not required to provide
you with any notice of the payment order or the credit.
You agree to be bound by the automated clearing house association operating rules that provide that
payments made to you or originated by you by funds transfer through the automated clearing house system
are provisional until final settlement is made through a Federal Reserve Bank or otherwise payment is made
as provided in Article 4A-403(a) of the Uniform Commercial Code.
Refund of credit
You agree that if we do not receive payment of an amount credited to your account, we are entitled to a
refund from you in the amount credited and the party originating such payment will not be considered to have
paid the amount so credited.
Amendment of funds transfer agreement
From time to time we may amend any term of this agreement by giving you reasonable notice in writing.
We may give notice to anyone who is authorized to send payment orders to us in your name, or to
anyone who is authorized to accept service.
Cancelation or amendment of payment order
You may cancel or amend a payment order you give us only if we receive the communication of cancelation or
amendment before our cutoff time and in time to have a reasonable opportunity to act on it before we accept the
payment order. The communication of cancelation or amendment must be presented in conformity with the same
security procedure that has been agreed to for payment orders.
We are not liable for the actions of any intermediary, regardless of whether or not we selected the
intermediary. We are not responsible for acts of God, outside agencies, or nonsalaried agents.
Limit on liability
You waive any claim you may have against us for consequential or special damages, including loss of profit
arising out of a payment order or funds transfer, unless this waiver is prohibited by law. We are not
responsible for attorney fees you might incur due to erroneous execution of payment order.
If we receive an order to pay you, and we erroneously pay you more than the amount of the payment order,
we are entitled to recover from you the amount in excess of the amount of the payment order, regardless of
whether you may have some claim to the excess amount against the originator of the order.
Objection to payment
If we give you a notice that reasonably identifies a payment order issued in your name as sender that we have
accepted and received payment for, you cannot claim that we are not entitled to retain the payment unless you
notify us of your objection to the payment within 60 days of our notice to you.