Primary Member

Joint Owner

ACCOUNT NOTES:

REGULAR SHARE (SAVINGS) ACCOUNT: This is the basic membership account, and all members must maintain a savings account to participate in any other services offered by the credit union. An initial deposit of $25 is required and is the minimum amount required to stay in the account. This money is on hold and not available for withdrawal as long as the account is open.

SHARE DRAFT (CHECKING) ACCOUNT: All checking accounts are verified through ChexSystems, a national account verification system. If there is a negative record on file for the member, the checking account may be denied. If opened, a checking account number (different from the "member" account number) will be assigned and the least expensive basic check style will be ordered. The charge (currently, $15.00 for this style) must be included with the application or be available for transfer from savings. Otherwise, checks will not be ordered until the account is funded; this includes the new account processing fee (if Regular Share Account not previously opened), minimum required deposit for savings, new ATM card fee (if applying for card), and amount for basic check order.

Certification - Under penalties of perjury, I certify that:

(1) The number shown on this form is my correct taxpayer identification number
(2) I am not subject to backup withholding either because I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or the IRS has notified me that I am no longer subject to backup withholding (does not apply to real estate transactions, mortgage interest paid, the acquisition or abandonment of secured property, contributions to an individual retirement account (IRA), and payments other than interest and dividends.)
(3) I am a U.S. person (including a U.S. resident alien).

Certification Instructions - Cross out item (2) above if you have been notified by the IRS that you are currently subject to backup withholding because of underreporting interest or dividends on your tax return. Cross out item 3 and complete a W-8 BEN if you are not a U.S. person.

I hereby make application for membership in the credit union named below, and agree to conform to its bylaws and amendments thereof, copies of which have been made available to me, and to subscribe for at least one (1) share. If Life Savings Insurance is carried in connection with my account, I agree, in consideration of the credit union carrying such insurance, that any designation or change of beneficiary made by me shall only be binding upon the credit union, if I have filed with the credit union prior to my death, such designation or change of beneficiary, in writing, signed by me, on the form supplied by the credit union; and, in the absence of so filing a designation of change of beneficiary, I agree on behalf of myself, my heirs, etc., to indemnify and save harmless the credit union from all loss or damage by reason of the payment of the proceeds of such insurance to such person as the credit union records show to be entitled thereto.

By applying for membership, you authorize the credit union to obtain credit reports in connection with this application for membership, services and/or credit, and for update, renewal or extension of the credit received, if applicable. If you request, the credit union will tell you the name and address of any bureau from which it received a credit report on you.

The Internal Revenue Service does not require your consent to any provision of this document other than the certifications required to avoid backup withholding.

JOINT SHARE ACCOUNT AGREEMENT (*NOT TRANSFERABLE)

HOSPITALITY FEDERAL CREDIT UNION (the "Credit Union") is hereby authorized to recognize any of the signatures subscribed in the payment of funds or the transaction of any business for this account. The joint owners of this account hereby agree with each other and with said Credit Union that all sums now paid in on shares, or heretofore or hereafter paid in on shares by any or all of said joint owners to their credit as such joint owners with all accumulations thereon, are and shall be owned by them jointly, with right of survivorship and be subject to the withdrawal or receipt of any of them, and payment to any of them or the survivor or survivors shall be valid and discharge said Credit Union from any liability for such payment. The joint owners also agree to the terms and conditions of the account as established by the Credit Union from time to time.
Any or all of said joint owners may pledge all or any part of the shares in this account as collateral security to a loan or loans from the Credit Union (IRA not applicable).

The right or authority of the Credit Union under this agreement shall not be changed or terminated by said owners, or any of them except by written notice to said Credit Union which shall not affect transactions theretofore made.

I/We hereby authorize HOSPITALITY FEDERAL CREDIT UNION to establish this Checking Account for me/us. The Credit Union is authorized to pay share drafts signed by me (or by any of us) and to charge all such payments against the shares in this Account. It is further agreed that:

(a) Only share drafts (and other methods) approved by the Credit Union may be used to make withdrawals from this Account.
(b) The Credit Union is under no obligation to pay a share draft that exceeds the fully paid and collected share balance in this Account. However, if any of the undersigned writes a share draft that would exceed such balance and result in this Account being overdrawn, the Credit Union may, but is not required to,
(1) Treat such share draft as a request to the Credit Union for an advance from a loan account identified for overdraft protection sufficient to permit the Credit Union to pay such share draft and credit the loan advance to this Account; and/or
(2) Pay such share draft and transfer shares to this Account in the amount of the resulting overdraft, plus a service charge, from any other share account from which any of the undersigned is then eligible to withdraw shares; and/or
(3) Initiate payroll deduction from my employer.
(c) I/We hereby authorize the Credit Union to initiate and my employer at the time to honor any payroll deduction request from the Credit Union necessary to cover any overdraft resulting from my (our) use of this account.
(d) The Credit Union may pay a share draft on whatever day it is presented for payment, notwithstanding the date (or any other limitation on the time of payment) appearing on the share draft.
(e) When paid, share drafts become the property of the Credit Union and will not be returned either with the periodic statement or otherwise.
(f) The Credit Union is not liable for any action it takes regarding the payment or nonpayment of a share draft.
(g) Any objection respecting any item shown on a periodic statement of this Account is waived unless made in writing to the Credit Union before the end of 60 days after the statement is mailed.
(h) This Account is subject to the Credit Union's right to require advance notice of withdrawal, as provided in its bylaws.
(i) This Account is also subject to such other terms, conditions and service charges as the Credit Union may establish and change from time to time, including any applicable transaction limitations.
(j) To the extent that state law is not preempted by federal law, this Agreement and the respective rights and obligations of the Credit Union and member shall be governed by the laws of the State of Tennessee.
(k) If this agreement is signed by more than one person, the persons signing as joint tenants shall be the joint owners of the Account which, in that event, shall be subject to the terms of this agreement and the additional conditions printed on this application.

MEMBERSHIP AGREEMENT

By signing/submitting this form, you agree to all terms and conditions outlined in the booklet "Important Account Information For Our Members" which will be sent to you.

We will begin processing this request immediately after we receive it. Thank you.