ACH Draft Authorization

I (we) hereby authorize Cherokee County Teachers Federal Credit Union, hereinafter called Cherokee County Teachers FCU, to initiate a monthly debit entry to my (our) account indicated below and the financial institution below. I (we) acknowledge the origination of ACH transactions to my (our) account must comply with the provisions of U.S. law and the ACH rules promulgated by NACHA.

This authority is to remain in full force and effect until Cherokee County Teachers FCU has received written and/or verbal notification from me (or either of us) of its termination in such time and manner as to afford Cherokee County Teachers FCU and the below financial institution a reasonable opportunity to act on it.

We reserve the right to periodically evaluate your performance under this agreement, and to terminate or suspend this agreement upon non-performance, violations, US Law, or the ACH rules. Any credits to your account under this agreement are provisional until we receive final settlement through a federal reserve bank. If we do not receive such final settlement, we are entitled to a refund or the amount credits to you. We reserve the right to limit the immediate availability of funds transferred under this agreement.

“We may accept on your behalf payments to your account which have been transmitted through one or more Automated Clearing Houses (ACH) and which are not subject to the Electronic Fund Transfer Act and your rights and obligations with respect to such payments shall be construed in accordance with and governed by the laws of the state of Texas as provided by the operating rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving your account.”

You agree to maintain compliance with current ACH Rules. You may consult our ACH Rule book upon reasonable notice and during normal business hours.