Account Types

If you intend to own the account as an individual, as joint tenants with the right of survivorship, or as joint tenants-no survivorship, indicate your intent by checking the appropriate box on the membership application. If you intend to own this account in another way, choose a type of account from the following list and check the appropriate box on the membership application.

1. Joint Share Accounts
   Heartland Credit Union is authorized to recognize any of the signatures subscribed on the application 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 the credit union that all sums now paid in on shares, or heretofore or hereafter paid in on share by any or all of said joint owners to the credit union 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 the credit union from any liability for such payment. Any or all of the joint owners may pledge all or part of the shares in this account as collateral security to a loan or loans from the credit union. The right or authority of the credit union under this agreement shall not be changed or terminated by the joint owners, or any of them except by written notice to the credit union which shall not affect transactions theretofore made.
   

2. Gift to Minor Accounts
   If you are either the custodian for the account or the minor receiving the gift, we may accept money paid pursuant to our state's Gifts to Minors act for credit to an account in the name of the custodian(s). The account name should be in the name of the donor, the minor‘s guardian or another adult, followed by the words "as custodian for (insert name of minor) under the Minnesota Uniform Gifts to Minors Act."
    
3. Organization Accounts
   We may require you, as a representative of an organization, to provide us with a separate authorization telling us who may act on its behalf. We will honor it until we receive notice of a change from the governing body of the legal entity you list on your account application. If this account is owned by a partnership, you each certify that you are general partners.
   
   
4. Trust Account and Payable-On-Death Accounts
   By creating either of these account types you intend that any named beneficiary acquires the right to withdraw from this account only if (1) you die and (2) the beneficiary is then living. If more than one beneficiary survives your death, they will own this account in equal shares without any right of survivorship. You may (1) change beneficiaries; (2) change account types; and (3) withdraw all or part of the deposited funds at any time during your lifetime.