Fee Updates:
The Excess Savings Transaction Fee has been eliminated.
You may now avoid the Dormant Account Fee by logging into Digital Banking. The full details of the fee are as follows:
Dormant Account Fee: $10/month. Account is “dormant” after 13 months with no withdrawals, no deposits (other than credited dividends), no loan payments, and no logins to Digital Banking.
The following changes to Orion’s Account Disclosures are effective 30 days from the date we send this notice to you:
The following is added to the “Power of Attorney (POA)” section:
If you grant power of attorney to multiple persons (referred to as "attorneys-in-fact"), you agree that any such attorney-in-fact may individually provide instructions with respect to the account, including to withdraw all funds, without signature or other verification from the other attorneys-in-fact. By opening or maintaining this account, you agree to hold Orion harmless for accepting instructions from any one attorney-in-fact and you agree to indemnify Orion against any losses incurred for accepting such instructions.
If you request access to an account as attorney-in-fact, you agree to be bound by the terms of this Account Agreement. You understand that the only recourse for loss due to a co-fiduciary’s breach of their fiduciary duties is against such co-fiduciary and their bond issued by a third party (if applicable). If there are additional attorneys-in-fact, you agree to hold Orion harmless for accepting instructions from any one attorney-in-fact and you agree to indemnify Orion against any losses incurred for accepting such instructions.
This section shall not be limited or altered by providing Orion with a document that indicates that your attorneys-in-fact may only act jointly or that omits the explicit provision that your attorney-in-fact may act independently or severally.
The first paragraph of the “Amendments & Termination” section is amended and restated in its entirety as follows:
We may change our bylaws and this agreement at any time by adding, deleting, or otherwise altering any term, clause, word, or syntax either in part or in entirety, regardless of whether the subject of such change appears in your original agreement. Rules governing changes in rates are provided separately. For other changes that require notice by law, we will give you reasonable notice in writing or by any other method permitted by law. You must keep us informed of your current address at all times. Notice from us to any one of you is notice to all of you.
A section titled “Fiduciary Accounts” is added. If you have an existing Fiduciary Account, the following terms apply:
This section applies if your Membership Application or other documentation indicates the account is one of the following account types, referred to collectively as “Fiduciary Accounts”: Trust; Conservatorship; Guardianship; Social Security Representative Payee; VA Fiduciary; Estate. Respectively, your signature on the Membership Application and any instructions to Orion regarding the Fiduciary Account will be as “Trustee”, “Conservator”, “Guardian”, “Representative Payee”, “VA Fiduciary”, or (depending on the type of Estate) “Administrator” or “Executor” (collectively, “fiduciaries”).
If a Fiduciary Account is selected, then the following terms apply:
Legal Title. The legal title of the Fiduciary Account is controlled by the most recent documentation accepted by Orion, not by abbreviated names in Orion’s system records.
PODs Void. Any POD beneficiary designation attempted for a Trust, Social Security Representative Payee, VA Fiduciary, or Estate account is void. Any POD beneficiary designation made for a personal account shall be made void by converting the account to a Trust account.
Multiple Fiduciaries. If multiple individuals share fiduciary responsibilities, you agree that any such fiduciary may individually provide instructions with respect to the account, including to withdraw all funds, without signature or other verification from the other fiduciaries. By opening this account, you agree to hold Orion harmless for accepting instructions from any one fiduciary and you (individually and on behalf of the persons to whom you owe a fiduciary duty) agree to indemnify Orion against any losses incurred for accepting such instructions. You understand that the only recourse against a co-fiduciary who has breached their fiduciary duties is against such co-fiduciary and their bond issued by a third party (if applicable). This provision shall not be limited or altered by providing Orion with a document that indicates that the fiduciaries may only act jointly or that omits the explicit provision that your attorney-in-fact may act independently or severally.
Agreement. You agree to all terms of the Account Agreement on behalf of you as a fiduciary and on behalf of the individuals to whom you owe a fiduciary duty.
No Overdrafts. Fiduciary accounts are not eligible for overdraft protection, except by transfer from linked accounts.
Death of Fiduciaries. Upon the death of all fiduciaries with current account access, Orion will distribute the funds to a new fiduciary providing adequate documentation to establish their status.
Changes to Fiduciaries. Any change in fiduciaries must be adequately established with appropriate documentation, which may include a death certificate, resignation letter, documentation of incapacity, or amendment to the documentation that created the fiduciary relationship. You authorize Orion to place all funds on hold until the change has reasonably been verified.
The ”Fiduciary Accounts” section contains additional terms that are relevant only at the time of establishing a Fiduciary Account, which are found in Orion’s Account Disclosures and are agreed to at the time such account is established.
The “EFT Types & Limitations” section is amended to update the Debit Card and ATM Card limitations as follows:
Debit card limitations:
- 15 purchase transactions per day
- 5 ATM withdrawals per day
- $5,000 in purchases per day
- $1,020 in ATM withdrawals per day
ATM card limitations:
- 15 purchase transactions per day
- 5 ATM withdrawals per day
- $2,000 in PIN-based purchases per day
- $410 in ATM withdrawals per day
The “Replacement of Lost Cards” section is amended and restated in its entirety as follows:
We reserve the right to deny your request for a replacement Card or Code for any reason not prohibited by law.
The last sentence of the second paragraph in the “Longer Delays May Apply” section is amended and restated as follows:
If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will send you notice as soon as practicable.
The ”Expulsion” section is amended to include the following additions:
We may terminate your membership in Orion in one of three ways. The first way is through a special meeting. Under this option, we may call a special meeting of the members, provide you an opportunity to be heard, and obtain a two-thirds vote of the members present at the special meeting in favor of your expulsion. The second way is under a nonparticipation policy given to each member that follows certain requirements. The third way is by a two-thirds vote of a quorum of Orion’s directors for cause.
Cause is defined as: (A) a substantial or repeated violation of the Account Agreement with Us; (B) a substantial or repeated disruption, including dangerous or abusive behavior, to Orion’s operations; or (C) fraud, attempted fraud, or a conviction of other illegal conduct that a member has been convicted of in relation to Us, including in connection with our employees conducting business on our behalf.
Before the board votes on an expulsion, We must provide written notice to your mailing address (or email, if applicable) on record or personally provide the written notice. We must provide the specific reasons for the expulsion and allow you an opportunity to rebut those reasons through a hearing if you choose. It is your responsibility to keep your contact information with Us up to date, and to open and read notices from Us. Unless We determine to allow otherwise, there is no right to an in-person hearing with the board. If you fail to request a hearing with 60 calendar days of receipt of the notice, you will be expelled. You may submit any complaints about your pending expulsion or expulsion to NCUA’s Consumer Assistance Center if the complaint cannot be resolved with Us.
We will confirm any expulsion with a letter with information on the effect of the expulsion and how you can request reinstatement. Expulsion or withdrawal from membership does not relieve a member of liability to Orion, and we may demand immediate repayment of any money you owe to us after expulsion, subject to any applicable contract terms and condition. For additional information on expulsion and a copy of our expulsion policy, see Article XIV of Orion’s Bylaws.