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TERMS AND CONDITIONS OF YOUR ACCOUNT
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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.
AGREEMENT
- 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:
- summarize some laws that apply to common transactions;
- establish rules to cover transactions or events which the law does not regulate;
- establish rules for certain transactions or events which the law regulates but permits
variation by agreement; and
- give you disclosures of some of our policies to which you may be entitled or in which you may be interested.
- 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. "Party" means a person who, by the terms of
an account, has a present right, subject to request, to payment from the account other than as an agent.
A beneficiary of a P.O.D. account is a party only after the account becomes payable to them by reason
of their surviving the original payee. A minor may be a party to an account, subject to withdrawal
restrictions of Wisconsin law. Unless the context indicates otherwise, "party" includes a guardian,
conservator, personal representative, or assignee, including an attaching creditor, of a party.
LIABILITY
- 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.
DEPOSITS
- 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.
WITHDRAWALS
- 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.
- 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.
OWNERSHIP OF ACCOUNT AND BENEFICIARY DESIGNATION
- These rules apply to this account depending on the form of ownership and beneficiary designation, if any,
specified on the account records. We make no representations as to the appropriateness or effect of the
ownership and beneficiary designations, except as they determine to whom we pay the account funds.
Single-Party Account
- Such an account is owned by one party.
Joint Survivorship Account (Not As Tenants In Common)
- Such an account is issued in the name of two or more persons. Each of you intend that upon your death the balance
in the account (subject to any previous pledge to which we have consented) will belong to the survivor(s). If two or more
of you survive, you will own the balance in the account as joint tenants with survivorship and not as tenants in common.
Marital Account
- Is an account established without the right of survivorship by two parties who claim to be husband and wife and is payable on request to either or both parties.
Joint Account - No Survivorship (As Tenants In Common)
- Is an account, other than a Marital Account or Joint Survivorship Account, owned by two or more parties and payable
on request to one of two or more parties. The parties do not intend (merely by opening this account) to create any
right of survivorship in any other party. We encourage the parties to agree and tell us in writing of the percentage
of the deposit contributed by each of you. This information will not, however, affect the "number of signatures"
necessary for withdrawal.
Single Account or Joint Survivorship Account with P.O.D. Beneficiaries
- Pay-on-death beneficiaries acquire the right to withdraw only if: (1) all parties creating the account die,
and (2) the beneficiary is then living. If two or more beneficiaries are named and survive the death of all persons
creating the account, such beneficiaries will own this account in equal shares, without right of survivorship.
The person(s) creating this account type reserve the right to: (1) change beneficiaries, (2) change account types,
and (3) withdraw all or part of the deposit at any time.
MARITIAL ACCOUNT WITH P.O.D. BENEFICIARIES
- Upon the death of either party, 50% of the funds on deposit are owned by the survivor and 50% are owned by the P.O.D.
beneficiary(ies) named by the deceased party. If two or more beneficiaries are named by a party and survive the death
of the party, they shall equally share the 50% that they own, without right of survivorship. The persons creating this
account type reserve the right to: (1) change beneficiaries, (2) change account types, and (3) withdraw all or part of
the deposit at any time.
BUSINESS ACCOUNTS
- 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.
ORGANIZATION ACCOUNT
- 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
eligibility requirements.
STOP PAYMENTS
- 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.
TELEPHONE TRANSFERS
- 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.
STATEMENTS
- 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.
ACCOUNT TRANSFER
- account may not be transferred or assigned without our prior written consent.
DIRECT DEPOSITS
- 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.
SETOFF
- 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.
AUTHORIZED AGENT
- An authorized agent is a person who by the terms of the account, has a present right, subject to request,
to payment from the account on behalf of all of the parties to the account.
RESTRICTIVE LEGENDS
- 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
- The law permits us to pay items (such as checks or drafts) drawn on your account in any order. To assist you in
handling your account with us, we are providing you with the following information regarding how we process the items
that you write. When processing items drawn on your account, our policy is to pay them according to the dollar amount.
We pay the largest items first. The order in which items are paid is important if there is not enough money in your
account to pay all of the items that are presented. Our payment policy will cause your largest, and perhaps more
important, items to be paid first (such as your rent or mortgage payment), but may increase the overdraft or NSF
fees you have to pay if funds are not available to pay all of the items. If an item is presented without sufficient
funds in your account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item
(NSF). The amounts of the overdraft and NSF fees are disclosed elsewhere. We encourage you to make careful records and
practice good account management. This will help you to avoid writing checks or drafts without sufficient funds and
incurring the resulting fees.
STALE-DATED CHECKS
- 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.
ACH AND WIRE TRANSFERS
- This agreement is subject to Article 4A of the Uniform Commercial Code - Fund Transfers as adopted in the state
in which you have your account with us. If you originate a fund 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 association rules. These rules provide, among other things, that payments made to you, or
originated by you, are provisional until final settlement is made through a Federal Reserve Bank or payment is otherwise
made as provided in Article 4A-403(a) of the Uniform Commercial Code. If we do not receive such payment, we are entitled
to a refund from you in the amount credited to your account and the party originating such payment will not be considered
to have paid the amount so credited. If we receive a credit to an account you have with us by wire or ACH, we are not
required to give you any notice of the payment order or credit.
NOTICE OF NEGATIVE INFORMATION
- Federal law requires us to provide the following notice to customers before any "negative information"
may be furnished to a nationwide consumer reporting agency. "Negative information" includes information
concerning delinquencies, overdrafts or any form of default. This notice does not mean that we will be
reporting such information about you, only that we may report such information about customers that have
not done what they are required to do under our agreement.
- After providing this notice, additional negative information may be submitted without providing another notice.
- We may report information about your account to credit bureaus. Late payments, missed payments
or other defaults on your account may be reflected in your credit report.
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