Membership Agreement

This agreement governs your membership with Southside Credit Union

1. Membership Eligibility

Membership in Southside Credit Union is available to individuals who meet our field of membership requirements. By opening an account, you certify that you meet these requirements and agree to comply with our Bylaws and policies.

2. Member Rights and Responsibilities

As a member, you have the right to:

  • Vote in the annual election of the Board of Directors (one vote per member)
  • Attend the Annual Meeting
  • Receive dividends as declared
  • Access all member services
  • Review our financial statements

You agree to:

  • Maintain at least one share account with a minimum balance
  • Keep your contact information current
  • Comply with all applicable account agreements
  • Conduct your account activity in a lawful manner

3. Share Accounts

Your primary savings (share) account establishes your membership. Federal law requires a minimum balance of $5.00 in this account to maintain membership.

4. Joint Ownership

You may add joint owners to your accounts. Joint owners have equal access to funds and share ownership rights. Any joint owner may transact on the account without consent of the other owners.

5. Account Ownership Disputes

In the event of a dispute over account ownership, we may:

  • Require all parties to resolve the dispute before disbursing funds
  • Place a hold on the account pending resolution
  • Require a court order for disbursement

6. Dividends

Dividends on share accounts are declared periodically by the Board of Directors based on financial performance. Dividends are not guaranteed and may vary.

7. NCUA Insurance

Your deposits are federally insured by the National Credit Union Administration (NCUA) to at least $250,000 per depositor, per insured credit union, for each account ownership category.

8. Expulsion and Termination

Membership may be terminated by:

  • Voluntary withdrawal (account closure)
  • Non-payment of amounts due
  • Fraud or illegal activity
  • Failure to maintain membership requirements
  • Expulsion by a two-thirds vote of the Board

9. Bylaws and Amendments

This agreement incorporates our Bylaws by reference. We may amend this agreement and our Bylaws as permitted by law and our regulatory requirements. You will receive notice of material changes.

10. Acknowledgment

By opening an account with Southside Credit Union, you acknowledge that you have received, read, and agree to be bound by this Membership Agreement and all applicable account agreements.

Questions? Call us at 1-800-SOUTHSIDE or visit any branch.