I hereby authorize Alaska USA Federal Credit Union (Alaska USA) to create an Automated Clearing House (ACH) withdrawal (debit) on my deposit account I have specified and apply this amount as my regularly scheduled loan payment. I understand that all funds transferred to the loan I have specified, will be disbursed per the terms disclosed on the Promissory Note & Security Agreement, or Retail Installment Sales Contract. I further understand that this transaction will occur on the effective date as listed in the transaction, and is a Single Payment Authorization.
I agree to have sufficient funds in my deposit account on the date the account is debited. If there are not sufficient funds in my deposit account on the day that the attempt is made to automatically draft funds to pay my loan, I understand that Alaska USA will not re-attempt to debit my account. I must arrange for an alternative method of payment for the payment that is due. I understand that my depository financial institution may charge a fee if the attempt to debit my deposit account is unsuccessful. I further acknowledge that I am the owner or an authorized signer on the deposit account I have designated for this Single Payment Authorization.
I understand and agree that this Single Payment Authorization is not intended to be an amendment to Alaska USA’s Master Account Agreement, Promissory Note & Security Agreement, or Retail Installment Sales Contract.
Alaska USA will transmit debit entries to the ACH processor as provided in the Operating Rules of the National Automated Clearing House Association (NACHA), in existence as of the date of this transaction, and as amended from time to time.
Alaska USA makes no claims or warranties with respect to the operation of the associated system(s) and shall not be liable for any system(s) failures or malfunction of the system(s), except as provided by law.