A. A credit union has a lien on the share and deposit accounts and accumulated dividends of a member for any amount owed the credit union by the member and for any loan endorsed by the member. The credit union has a right of immediate setoff with respect to each share and deposit account on default of the owner of the account in an obligation owed to the credit union.
B. The credit union may waive its rights to a lien, to immediate setoff, to restrict withdrawals or to any combination of these rights with respect to any share or deposit account.