Notice to Members

This notice serves as a reminder to our Members about our Arbitration Agreement. If you have not previously received this notice, please carefully review and determine if any action is needed on your part. If you have previously received this notice, your choice to opt-out or accept the terms has already been documented and we will continue to respect your choice.

ARBITRATION AND CLASS ACTION WAIVER – THIS SECTION AFFECTS YOUR LEGAL RIGHTS. PLEASE REVIEW THIS PROVISION CAREFULLY. IT PROVIDES THAT EITHER YOU OR WE CAN REQUIRE THAT ANY DISPUTES BE RESOLVED BY BINDING ARBITRATION. ARBITRATION REPLACES THE RIGHT TO GO TO COURT, INCLUDING THE RIGHT TO A JURY TRIAL AND THE RIGHT TO PARTICIPATE IN A CLASS ACTION OR SIMILAR PROCEEDING:

For purposes of this arbitration provision, “claim” or “dispute” includes any demand, cause of action, complaint, claim, asserted right, or other request for relief, whether legal, monetary or equitable, which arises out of or is related to current or prior Centra membership agreement(s) or disclosures, your account(s), transactions involving your account(s), safe deposit box, any related services, or your status as a Member of Centra Credit Union, and includes any such claim or dispute based upon any legal or equitable theory, including contract, tort, fraud, statute, regulation, common law, or otherwise, and includes any and all such claims or disputes, whether they arose in the past, may currently exist or may arise in the future. Notwithstanding the foregoing, this arbitration provision does not apply to any individual action brought in small claims court (or your state court equivalent), if the claim proceeds on an individual basis.

a. ARBITRATION PROCEDURES.

1. Electing Arbitration. Except if you opt out as provided below, you or we may elect, without the other’s consent, to require that any “claim” or “dispute” as defined in the previous paragraph shall be resolved by binding arbitration. If arbitration is elected, any claim or dispute will be resolved by individual (and not class-wide) binding arbitration instead of a lawsuit or other resolution in court. In order to elect arbitration, the party electing arbitration must notify the other party by giving a written notice. Written notice to Centra Credit Union shall be sent to Centra Credit Union, Risk Management and clearly state “Notice of Arbitration.” Written notice to you shall be sent to the most recent principal address that we have for you in our records and shall be deemed effective upon mailing.
2. Arbitration Costs. We will reimburse the amount of filing, case management, administration, and arbitrator fees you are required to pay. Notwithstanding the foregoing, we will not reimburse you for any fees if the arbitrators determine that your claim or dispute was frivolous or groundless. Each party will be responsible for its own attorneys’ fees in any arbitration, except that the arbitrator is permitted to award attorneys’ fees to the prevailing party under applicable law or agreement.
3. Arbitrators and Arbitration Rules. The party electing arbitration must choose between one of two organizations: the American Arbitration Association (“AAA”); or Judicial Arbitration and Mediation Services (“JAMS”). The rules and codes of procedure of the chosen organization in effect when arbitration is elected will apply. Any arbitration hearing that you attend will take place in a location that we agree upon. If we cannot agree upon a location, the hearing shall take place in Bartholomew County, Indiana.
4. Effect of Arbitration Award. The arbitrators’ decision and award will be final and binding on all parties, except for any right to appeal provided by the Federal Arbitration Act, and may be entered in any court, state or federal, having jurisdiction. Any relief available in a court of law can be awarded by the arbitrators.

b. CLASS ACTION WAIVER.
Unless prohibited by applicable law, resolution of any claim or dispute between us by arbitration, will be solely brought in your individual capacity and be solely between you and us. YOU ACKNOWLEDGE THAT YOU AND WE AGREE THAT NO CLASS ACTION, CLASSWIDE ARBITRATION, PRIVATE ATTORNEY GENERAL ACTION, OR OTHER PROCEEDING WHERE SOMEONE ACTS IN A REPRESENTATIVE CAPACITY, MAY BE PURSUED IN ANY ARBITRATION OR IN ANY COURT PROCEEDING, REGARDLESS OF WHEN THE CLAIM OR CAUSE OF ACTION AROSE OR ACCRUED, OR WHEN THE ALLEGATIONS OR FACTS UNDERLYING THE CLAIM OR CAUSE OF ACTION OCCURRED. Neither you nor we have the right to participate as a representative or member in a class of claimants pertaining to a claim subject to arbitration under this agreement. Under no circumstances shall there be any class action in arbitration. No arbitrator shall have the authority to conduct any arbitration in violation of this provision or to issue any relief that applies to any person or entity other than you and/or Centra Credit Union individually.

c. RIGHT TO OPT OUT.
YOU MAY OPT OUT OF ALL TERMS OF THIS ARBITRATION PROVISION AND THE CLASS ACTION WAIVER BY SENDING A WRITTEN REQUEST TO US AT CENTRA CREDIT UNION, C/O RISK MANAGEMENT, P.O. BOX 789, COLUMBUS, INDIANA 47202, (WHICH MUST INCLUDE YOUR NAME, ADDRESS AND MEMBER OR ACCOUNT NUMBER). NOTICE MUST BE RECEIVED WITHIN THIRTY (30) DAYS AFTER THIS AGREEMENT WAS MAILED, E-MAILED OR OTHERWISE MADE AVAILABLE TO YOU. IF YOU FAIL TO OPT OUT WITHIN THIS THIRTY (30) DAY PERIOD, YOU WILL BE DEEMED TO HAVE PROVIDED YOUR CONSENT TO THIS PROVISION, INCLUDING THE RESOLUTION OF CLAIMS OR DISPUTES THROUGH BINDING INDIVIDUAL ARBITRATION.

d. INTERPRETATION.
This arbitration provision is to be broadly interpreted. If any portion of this provision is deemed or found to be unenforceable for any reason, the remainder shall be enforceable. Provided, you acknowledge that the class action waiver is essential to the arbitration of any claims and is non-severable from this provision. If the class action waiver is voided, found unenforceable, or limited with respect to any claim, the arbitration provision shall be null and void with respect to such claim, subject to right to appeal the limitation or invalidation of the waiver. Provided, the arbitration provision shall remain valid with respect to all other claims. This arbitration provision shall survive the termination of any relationship you have with Centra Credit Union and survive any bankruptcy to the extent consistent with applicable bankruptcy law.

e. RIGHT TO RESORT TO PROVISIONAL REMEDIES PRESERVED.
Nothing herein shall be deemed to limit or constrain our right to resort to self-help remedies, such as the right of set-off or the right to restrain funds in an account, to interplead funds in the event of a dispute, to exercise any security interest or lien we may hold in property, to comply with legal process, or to obtain provisional remedies such as injunctive relief, attachment, or garnishment by a court having appropriate jurisdiction; provided, however, that you or we may elect to arbitrate any dispute related to such provisional remedies.