I (we) hereby authorize United Texas Credit Union, hereinafter called United Texas, to initiate debit withdrawal entries to my checking or savings account in the named depository institution, and I authorize this depository institution to accept and to debit the amount of such entries to my account.
This authority is to remain in full force until United Texas receives a completed termination request from me stating my intention to terminate this agreement. It is understood that United Texas must receive this termination request at least two weeks prior to the next pre-authorized debit transmittal date and in no event shall this termination request be effective with respect to entries processed by United Texas prior to receipt of the termination request.
Funds must be available at the depository institution named on the following form and if funds are returned as insufficient, a fee will be assessed as set forth in the Service Fee Schedule. For loan payments to United Texas, funds must be available at the named depository institution at least two business days prior to the loan payment due date in order for this pre-authorized debit transaction to be effective. It is understood that United Texas will in no way be held liable for delinquent loan payments if the above stated terms have not been met.
The undersigned hereby agrees that these initiated entries are to be governed by the rules of the National Automated Clearing House Association and agrees to be bound thereby.