Each Trustor/Trustee certifies to the Credit Union the following terms of authority and account conditions:
- A valid living Trust has been established under applicable law and currently exists.
- At least one Trustor of a Revocable Trust must be a member of the Credit Union. All Trustors or all named beneficiaries of an Irrevocable Trust must be members of the Credit Union.
- The Credit Union may rely on the authority of any Trustee until it receives written notice of revocation of the Trust or termination of Trustee's authority. The Credit Union may release funds or rely on the direction of any one Trustee acting alone unless the Credit Union agrees in writing that consent of more than one Trustee is required.
- Trustee(s) agree the Credit Union shall not be responsible for verifying whether any transactions conducted by Trustees on the Trust's accounts at the Credit Union are permissible under the express powers of the trust agreement. Trustee(s) agree to indemnify and hold the Credit Union harmless against any claim, liability or damage that may arise out of any actions the Credit Union takes pursuant to my/our request or instruction with respect to the account, including but not limited to closing the account, withdrawing funds from the account, accepting items for deposit and paying items drawn on the account and any amounts which the Credit Union expends in defending any claim to the funds or in paying or settling with other rightful claimants to the funds in the account. Amounts expended by the Credit Union shall include the amount of funds paid to Trustees or any amounts paid as damages by the Credit Union to other rightful claimants to the account and attorneys' fees and costs incurred by the Credit Union in resolving any dispute concerning the Credit Union's payment of the funds.
- All accounts held in the name of the Trust will be governed by the terms of this Certification, the Membership Application and Account Card, and by the terms of the Credit Union's Membership and Account Agreement and Disclosures as amended from time to time. Trustee has received a copy of the Agreement and Disclosures pertaining to the account(s) requested.
- If this is a Revocable Trust and the Credit Union receives any garnishment, levy, or other form of execution against the Trustor(s), or if the Trustor(s) owes money to the Credit Union, the Credit Union may treat all accounts held by or on behalf of the Trust as if they were held by the Trustor(s) individually.
- Each Trustee of the Trust and is duly authorized to act on behalf of the Trust in the manner described in this Certification. Each Trustee is familiar with the purpose of the Trust and the relationship with the Credit Union. The Trustee(s) agrees to promptly notify the Credit Union in writing at the prior to any (a) change in the Trust's name, (b) change in the Trust's assumed business name(s), (c) change in the Trustees of the Trust, (d) change in the authorized signer(s), or (e) change in any other aspect of the Trust that directly or indirectly relates to any agreements between the Trust and the Credit Union.
- No change in the Trust's name will take effect until after Credit Union has been notified. The Trustee(s) further agree that the Credit Union shall bear no responsibility whatsoever for monitoring or ensuring that trust assets are allocated or distributed in compliance with the Trust, or for any and all matters bearing on the Trustees' administration of the Trust.
- THIS AGREEMENT AFFECTS YOUR LEGAL RIGHTS. IF YOU DESIRE ASSISTANCE OR ADVICE CONCERNING THIS AGREEMENT, YOU SHOULD SEEK THE ADVICE OF AN ATTORNEY OR OTHER PROFESSIONAL PERSON. THE CREDIT UNION CANNOT GIVE LEGAL ADVICE REGARDING EITHER THIS AGREEMENT OR THE TRUST.