Terms and Conditions Disclosure

CONSUMER DEPOSIT ACCOUNT AGREEMENT AND DISCLOSURES

DEFINITIONS: Throughout this Agreement, these terms have the following meaning: 
  • "You," "your," “account owner” and “party” refer to the depositor (whether joint or individual) named on the account.
  • “We," “our,” and "us" refer to the financial institution. 
  • The acronym “NOW” means Negotiable Order of Withdrawal. 
  • “Item” or “items,” as defined by Article 4 of the Uniform Commercial Code (UCC), means an instrument or a promise or order to pay money handled by a financial institution for collection or payment. The term includes a check but does not include a payment order governed by Article 4A of the UCC or a credit or debit card slip.
  • “Debit transactions,” “debit,” or “debits” refer to funds that are taken out of your account. Common types of debits may include: checks or drafts that you have written, ACH payments, wire transfers, PIN-based debit card transactions, and signature-based debit card transactions.
  • “Credit transactions,” “credit,” or “credits” refer to deposits of funds into your account. Common types of credits include: cash deposits, direct deposits, check deposits, and ACH and wire transfers made payable to you. Credits are generally added to your account and are made available to you in accordance with our funds availability schedule.

GENERAL AGREEMENT.  You understand the following Account Agreement (“Agreement") governs your account with us.  Your account is also governed by other applicable documents, such as the Truth in Savings Account Disclosure and Privacy Policy, and where applicable, the Funds Availability Policy and Electronic Fund Transfer (Agreement) and Disclosure ("Disclosures"), which are incorporated by reference.  By providing a written or electronic signature on the Account Information document or other agreement to open your account, or by using any of our deposit account services, you and any identified account owners agree to the terms contained in this Account Agreement.

GENERAL RULES. The following rules apply to all types of accounts:

  1. DEPOSITS. Deposits may be made in person, by mail, or in another form and manner as agreed by us in our sole discretion. We are not responsible for transactions mailed until we actually receive and record them.  We may, at our sole discretion, refuse to accept particular items as deposits.  Cash deposits are credited to your account according to this Agreement.  Other items you deposit are handled by us according to our usual collection practices.  If an item you deposit is returned unpaid, we will debit your account and adjust any interest earned.  You are liable to us for the amount of any item you deposit to your account that is returned unpaid.  In addition, you are liable to us for all costs and expenses related to the collection of any or all of that amount from you.  Funds deposited to your account are available in accordance with the Disclosures.

  2. COLLECTION OF DEPOSITED ITEMS. In receiving items for deposit or collection, we act only as your agent and assume no responsibility beyond the exercise of ordinary care. All items are credited subject to final settlement in cash or credits.  We shall have the right to forward items to correspondents including all Federal Reserve Banks, and we shall not be liable for default or neglect of said correspondents for loss in transit, nor shall any correspondent be liable except for its own negligence.  You specifically authorize us or our correspondents to utilize Federal Reserve Banks to handle such items in accordance with provisions of Regulation J (12 CFR Part 210), as revised or amended from time to time by the Federal Reserve Board.  In the event we are subject to local clearinghouse rules, you specifically authorize us to handle such items in accordance with the rules and regulations of the clearinghouse.

    If we permit you to withdraw funds from your account before final settlement has been made for any deposited item, and final settlement is not made, we have the right to charge your account or obtain a refund from you.  In addition, we may charge back any deposited item at any time before final settlement for whatever reason.  We shall not be liable for any damages resulting from the exercise of these rights.  Except as may be attributable to our lack of good faith or failure to exercise ordinary care, we will not be liable for dishonor resulting from any reversal of credit, return of deposited items or for any damages resulting from any of those actions.
  1. SET-OFFS AND Security Interest. If you ever owe us money as a borrower, guarantor or otherwise, and it becomes due, we have the right under the law, (called “set-off”) and under this Agreement (by which you grant us security interest in your deposit account and any other accounts held by you) to use your account funds to pay the debt, where permitted by law. If your account is held jointly, that is, if there is more than one account owner, we may offset funds for the debt of any one of the joint owners. Similarly, we may also set-off funds from the individual accounts of any one of the joint owners to satisfy obligations or debts in the joint account. The security interest granted by this Agreement is consensual and is in addition to our right to set-off.

  2. CLAIMS. In response to any garnishment, attachment, restraining order, injunction, levy, citation to discover assets, judgment, reclamation, other order of court or other legal process ("Claim(s)”), we have the right to place a hold on, remove from your account(s) and/or remit to the designated third-party(ies) any amount on deposit in your account as set forth in and required by such Claim(s). If the account(s) is/are held jointly, we may place the hold, remove from the account(s) and/ or remit the amounts from the account(s) arising from any Claim(s) relating to any one or more of the account holders.  In addition, we may charge against your account(s) any fee authorized by law in connection with the Claim(s) or as otherwise set forth in the Disclosures.

  3. EXPENSES. You agree to be liable to us for any loss, costs or expenses that we incur as a result of any dispute involving your account, including reasonable attorneys' fees to the extent permitted by law, and you authorize us to deduct such loss, costs or expenses from your account without prior notice to you. This obligation includes disputes between yourself and us involving the account and situations where we become involved in disputes between you and an authorized signer, another joint owner, or a third-party claiming an interest in the account. It also includes situations where you, an authorized signer, another joint owner, or a third-party takes action with respect to the account that causes us, in good faith, to seek the advice of counsel, whether or not we actually become involved in a dispute.

  4. DORMANT/INACTIVE ACCOUNTS. You understand that if your account is dormant or inactive, you may be charged the fee specified in the Disclosures and we may stop paying interest to the extent permitted by law. You understand that your account balance may be escheated (that is, turned over to the state) in accordance with state law.

  5. JOINT, TRUST, FIDUCIARY AND CUSTODIAL ACCOUNTS - You acknowledge that if your account is set up as a joint, trust, fiduciary or custodial account, it is your sole responsibility to determine the legal effects of opening and maintaining an account of this nature.

  6. INDIVIDUAL ACCOUNT - The named party in an individual account owns the account and may withdraw all or some of the account. On the death of the party, ownership passes as part of the party’s estate. If we are uncertain of who should receive a payment under this Agreement or if we have actual knowledge of a dispute between you and any other person claiming an interest in the account, we may refuse to make a payment to you. If we do so, we will notify you and all other persons claiming an interest in writing for the basis of our refusal, and we may continue to refuse the payment until we receive consent from all interested parties or we make a payment pursuant to a court order. We will not be liable if we refuse to make a payment to you from your account.

  7. JOINT ACCOUNT. If this is a joint account, all deposits are the property of the person(s) indicated on the account and we may release all or any part of the amount in the account to honor checks,  orders or other items or withdrawals or requests from any person named on this account. Any person named on the account is liable for the amount of any overdraft fees regardless of whether he or she signed the item or benefited from the proceeds of the item.  Upon receiving written notice from any person named on the account, we may freeze the account.  The account may be frozen until we receive written notice, signed by all parties named in the account, as to the disposition of funds.  We may use the funds to satisfy a debt or judgment of any person named on this account if ordered to do so by a court of law.

  8. JOINT ACCOUNT WITH RIGHT OF SURVIVORSHIP. If this is a joint account with right of survivorship, on the death of one of the account holders, that person's interest in the account immediately vests in the surviving joint account holder(s) as their separate property.

  9. IN TRUST FOR ACCOUNT. If this account is noted as an In Trust For account, the trustee(s) may change the named beneficiary(ies) at any time by a written direction to us. The trustee(s) reserves the right to withdraw all or part of the deposit at any time.  Such payment or withdrawal shall constitute a revocation of the trust agreement as to the amount withdrawn.  The beneficiary(ies) acquires the right to withdraw only if: (i) all of the trustees die, and (ii) the beneficiary is then living.  The beneficiary(ies) is only entitled to the amount that is in the trust after all of the trustee's(s') outstanding checks and debits have been paid.  If all of the beneficiaries predecease the trustee(s), the named beneficiary's(ies') death shall terminate the trust and title to the money that is credited to the trust shall vest in the trustee(s).  If two or more beneficiaries are named and survive the death of all of the trustees, such beneficiaries will own this account in equal shares without right of survivorship, unless otherwise indicated.  If the primary beneficiary predeceases the owner(s), when two or more contingent beneficiaries are named and survive the death of the owner(s), such beneficiaries will own this account in equal shares without the right of survivorship, unless otherwise indicated.  Named beneficiaries are assumed to be primary unless indicated as contingent.

  10. CUSTODIAL ACCOUNT. A custodial account is subject to applicable law as adopted by the state in which the account is opened. The documents that authorize the custodianship may be required for the account.  An account opened under the Uniform Transfers/Gifts to Minors Act must be opened in the name of a custodian "as custodian for (name of minor) under the Uniform Transfer to Minors Act".  There may be only one custodian and one minor as beneficiary for each minor account.

  11. POWER OF ATTORNEY. If you wish to name another person to act as your attorney in fact or agent in connection with your account, we must approve the form of appointment.

  12. PAYMENT OF INTEREST. For interest bearing accounts, interest will be calculated and paid in accordance with the Disclosures provided to you at the time you opened the account.

  13. FEES, SERVICE CHARGES AND BALANCE REQUIREMENTS . You agree you are responsible for any fees, charges, balance, or deposit requirements as stated in the Disclosures.

  14. NON-SUFFICIENT FUNDS AND OVERDRAFTS .If your account lacks sufficient funds to pay a check, preauthorized transfer, or other debit activity presented for payment, as determined by your available account balance or current (ledger) balance, we may (1) return the item, or (2) pay the item at our discretion.       

    Available Balance. The available balance reflects deposits and transactions that have been posted to your account and transactions that have not posted to your account, including the following: checks you have written, if applicable, deposit holds, and holds on debit card transactions that have been authorized but not yet posted (i.e., preauthorization holds). These pending transactions and holds reduce your available balance. For example, you have $100 in your account and a pending transaction of $30. Your available balance is $70 because the $30 transaction reduces your available account balance.

    Current (Ledger) Balance. The current (ledger) balance method calculates your account balance only based on transactions that have settled, and it does not reflect pending transactions or checks, if applicable, that have not posted to your account. For example, you have $100 in your account and spend $30. Your current (ledger) balance is $100 because the pending $30 transaction does not reduce your current (ledger) balance until it posts to your account.

    Fees. If there are insufficient funds to pay an item based on your current (ledger) balance, we may either: 1) return the item or 2) pay the item at our discretion. We may charge you fees if we return the item or pay the item on your behalf.

    Return Item For Non-Sufficient Funds. If we do not pay the debit transaction or item on your behalf and return the debit or item, we may charge you non-sufficient funds fees (overdraft fee- returned). Pursuant to National Automated Clearing House Association (Nacha) Operating Rules and Guidelines and other applicable laws, a debit or item may be presented for payment more than one time. We may charge you non-sufficient funds fees for each resubmission of an debit or item or representation of a check, which means you may incur multiple non-sufficient funds fees if an item is returned more than one time. For example, you write a check from your account with us. The check is returned for non-sufficient funds, and we may charge you a non-sufficient fund fee. The same check is then re-presented to us for payment, and the check is returned again for non-sufficient funds. We may charge you a non-sufficient fund fee the second time the check is presented for payment and returned for non-sufficient funds.

    Overdrafts. If we pay the debit transaction or item on your behalf, you will be responsible for the overdrawn balance, and we may charge you overdraft fees(overdraft fee-paid).

    Our policy may be that we use an available balance to determine if we will pay a debit or item and use a current (ledger) balance to assess fees. If this is the case, the applicable rules described above will apply.

    If applicable, overdrafts may be covered by our standard overdraft practice that comes with your account or an overdraft protection plan, such as a link to an account or a line of credit. As part of our offered standard overdraft practice, we do not authorize and pay overdrafts on ATM or everyday debit card transactions unless you request us to do so. Please refer to the Occasional Overdraft Privilege Service Policy for more information about overdrafts and our standard overdraft policies.

  15. PROCESSING ORDER.  We will process debit and credit transactions in accordance with our processing order policy. The processing order of these debits and credits is important because if your account balance has insufficient funds to pay for the debits and credits in the order that they are processed, we may charge you non-sufficient funds (overdraft fee- returned) fees if we return the debit or charge you overdraft fees (overdraft fee-paid) if we pay the debit on your behalf.

  16. AMENDMENTS AND ALTERATIONS.  Except as prohibited by law, we may amend this Agreement by adding, removing, or changing terms at any time. We will notify you of amendments as required by applicable law. Your continued use of the account evidences your agreement to any amendments. Notices will be sent to the most recent address shown on the account records, or in your bank statement. Only one notice will be given in the case of joint account holders.

  17. NOTICES. You are responsible for notifying us of any address or name changes, the death of an account holder or other information affecting your account. Notices must be in a form and manner acceptable to us with enough information to allow us to identify the account.  Notice sent by you to us is not effective until we have received it and have a reasonable opportunity to act on it.  Written notice sent by us to you is effective when mailed to the last address supplied.

  18. CERTIFIED BENEFICIAL OWNER INFORMATION. If you are obligated to certify beneficial owner information at the time the account is opened, you are responsible for notifying us of any changes to the certified beneficial ownership information that was provided to us. Notice should be made to us as soon as practical upon a change to the beneficial ownership information in a form and manner acceptable to us.

  19. UNLAWFUL INTERNET GAMBLING. Restricted transactions are prohibited from being processed through your account with us as required by the Unlawful Internet Gambling Enforcement Act of 2006 and Regulation GG. A restricted transaction is a transaction or transmittal involving any credit, funds, instrument, or proceeds in connection with the participation of another person in unlawful internet gambling. You will notify us if your business practices regarding Internet gambling change in the future.

  20. TELEPHONE AND ELECTRONIC COMMUNICATION. You agree that we may call or send text messages to you at the telephone numbers that you provide to us, including a cell phone number, which may result in charges to you, for informational purposes regarding your account(s) with us. These calls and text messages may be made from an automatic telephone dialing system (i.e., an autodialer) or from an artificial or prerecorded voice message system.  Additionally, you agree that we may send electronic communication to you at the email addresses you provide to us.  You may contact us at any time if you no longer want to receive these communications from us. You also agree that we may monitor and record telephone and electronic communications that affect your account(s) with us to the extent permitted by law. We need not provide further notice to you or receive additional approval.

  21. ONLINE OR MOBILE SERVICES. If you open an account or obtain a product or service from us using our online or mobile services, we may record your personal information from a scan or a copy of your driver's license or other personal identification card, or we may receive an image or make a copy of your driver's license or other personal identification card. We may store or retain this information to the extent permitted by law.

  22. CLOSING ACCOUNT. We may close the account at any time, with or without cause, after sending you notice if advanced notice is required by law. If applicable, a notice may be sent to you that specifies when the account will be closed. At our discretion, we have the authority to pay an otherwise properly payable item, which is presented after the closing of your account. Such termination will not release you from any fees or other obligations incurred before the termination. We will send a check for the balance in our possession to which you are entitled.

  23. TRANSFERS AND ASSIGNMENTS. We may assign or transfer any or all of our interest in this account. You cannot assign or transfer any interest in your account unless we agree in writing.

  24. APPLICABLE LAWS AND REGULATIONS. You understand that this Agreement is governed by the laws of the state in which the account is opened unless federal law controls. Changes in these laws may change the terms and conditions of your account.  We will notify you of any changes as required by law.

    If any of the terms of this Agreement come into conflict with the applicable law and are declared to be invalid or unenforceable, those terms will be nullified to the extent that they are inconsistent with the law and the applicable law will govern. However, this shall not affect the validity of the remaining provisions.

  25. ACH AND WIRE TRANSFERS. This Agreement is subject to Article 4A of the Uniform Commercial Code - Funds Transfers as adopted by the state in which the account is opened. If you send or receive a wire transfer, you agree that Fedwire® Funds Service may be used. Federal Reserve Board Regulation J is the law that covers transactions made over Fedwire® Funds Service. When you originate a funds transfer for which Fedwire® Funds Service is used, and you identify by name and number a beneficiary financial institution, an intermediary financial institution or a beneficiary, we and every receiving or beneficiary institution may rely on the identifying number to make payment. We may rely on the number even if it identifies a financial institution, person or account other than the one named. If you are a party to an Automated Clearing House ("ACH") entry, you agree that we may transmit an entry through the ACH, and you agree to be bound by the Nacha Operating Rules and Guidelines, the rules of any local ACH, and the rules of any other systems through which the entry is made.

    Provisional Payment. Credit we give you is provisional until we receive final settlement for that entry.  If we do not receive final settlement, you agree that we are entitled to a refund of the amount credited to you in connection with the entry, and the party making payment to you via such entry (i.e., the originator of the entry) shall not be deemed to have paid you in the amount of such entry.

    Notice of Receipt. We will not provide you with notice of our receipt of the order, unless we are so requested by the transfer originator in the order.  However, we will continue to notify you of the receipt of payments in the periodic statements we provide to you.

    Choice of Law. We may accept on your behalf payments to your account which have been transmitted, that are not subject to the Electronic Fund Transfer Act, and your rights and obligations with respect to such payments shall be construed in accordance with and governed by the laws of the state where we are located.

    International ACH Transactions. If your transaction originates from a financial agency that is outside of the territorial jurisdiction of the United States, it may be subject to additional review for compliance with the rules of the Office of Foreign Assets Control (OFAC).  If additional review is required, the International ACH transaction will not be available to you until it passes final verification.

  26. REAL-TIME PAYMENTS.   We may offer real-time payment services for you to send or receive certain payments or payment-related messages through a real-time payments system. Real-time payments are credit transfers that enable you to send and receive funds with near immediacy twenty-four (24) hours a day, seven (7) days a week, and fifty-two (52) weeks a year. These transfers are subject to transaction value limits (e.g.$100,000) and settlement is final and irrevocable. Real-time payments are intended for domestic payments only. Payments sent or received by a person outside of the United States are prohibited. Transfers using a real-time payments system are subject to the applicable operating or governing rules of the real-time payments system used, as well as the Uniform Commercial Code 4A in effect in the state in which we are located, the Electronic Fund Transfer Act (Regulation E), and the rules of OFAC.

     
  27. Stop Payments: Stop Payments On Checks. If you request us to stop payment on a check you have written, you will give written or other confirmation as allowed by us within 14 days of making the request. If you fail to confirm an oral stop payment request within the 14 days, unless our policy provides otherwise we reserve the right to cancel the request. Your stop payment request must describe the check or account with reasonable certainty and we must receive the request in a time and way that gives us a reasonable opportunity to act on it. A stop payment on a check you have written will remain in effect until the earlier of 1) six months or other time period not less than six months as specified in the Stop Payment Order, or 2) until we receive written revocation of the stop payment, If the item on which a Stop Payment Order has been placed has not yet cleared or been returned to you by the payee, you may renew the Stop Payment Order for an additional six months by providing a request to us in a record or writing within the time period the Stop Payment Order is in effect. Our acceptance of a stop payment request does not constitute a representation by us that the item check has not already been paid or that we have had a reasonable opportunity to act on the request. We may accept a stop payment request on lost or stolen checks, whether a single check or series, unless our policy requires we open a new account for you to ensure your security. Written communication includes communication by electronic record.

    Stop Payments on ACH Debits. A Stop Payment Order may be placed on either a one-time debit transfer or on a multiple debit entry transfer. If you request a Stop Payment Order on an Electronic Check Conversion or other one-time debit transfer, we must receive the request, orally or in a record or writing, in a period of time that provides us a reasonable opportunity to act on it prior to acting on the debit entry, otherwise the Stop Payment Order shall be of no effect. If you requested a stop payment on a multiple or future debit entry transfer, we must receive the Stop Payment Order, orally or in a record or writing, at least three business days before a scheduled debit entry. Requests to stop all future payments on an ACH debit transfer may require additional documentation to be supplied to us. Oral stop payment orders are binding on us for 14 calendar days only, unless our policy provides otherwise, and must be confirmed by you in a record or writing within that period. A Stop Payment Order on an ACH debit will remain in effect until the earlier of 1) your withdrawal of the Stop Payment Order, or 2) the return of the debit entry, or, where a Stop Payment Order is applied to more than one debit entry under a specific authorization involving a specific payee (Originator), the return of all such debits. When a stop is placed on a multiple or future debit entry transfer, we may require your confirmation in a record or writing stating that you have canceled your authorization for the transfer with the payee (a Stop Payment Order does not revoke authorization). Written communication includes communication by electronic record.

    The Stop Payment Order shall be governed by the provisions of Article 4A of the Uniform Commercial Code as adopted by the state in which the account is opened, the Electronic Fund Transfer Act (Regulation E) Nacha Operating Rules and any applicable state law

    You may be charged a fee every time you request a stop payment and for each Stop Payment Order renewal you make. You understand that we may accept the stop payment request from any of the joint owners of the account regardless of who signed the check or authorized the transfer. A release of the Stop Payment Order may be made only by the person who initiated the stop payment request.

  28. CHECKS.  All negotiable paper ("checks") presented for deposit must be in a format that can be processed and we may refuse to accept any check that does not meet this requirement. All endorsements on the reverse side of any check deposited into your account, or on any check issued by you, must be placed on the left side of the check when looking at it from the front, and must be placed so as to not go beyond an area located 1-1/2 inches from the left edge of the check when looking at it from the front.  It is your responsibility to ensure that this requirement is met.  You are responsible for any loss incurred by us for failure of an endorsement to meet this requirement.

  29. ELECTRONIC CHECKS AND ELECTRONICALLY-CREATED ITEMS. Pursuant to Regulation CC, electronic checks may be treated the same as paper checks for check collection and processing purposes. See the Substitute Checks section for more information. Electronically-created items ("ECI") are check-like items created in electronic form that never existed in paper form. For example, you set up automatic bill payments with us to pay your utility bill. From your account information, we create an ECI that is sent to your utility company for payment. An ECI cannot be used to create a substitute check since it never existed in paper form.

  30. SUBSTITUTE CHECKS. To make check processing faster, federal law permits financial institutions to replace original checks with "substitute checks." These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: "This is a legal copy of your check.  You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check.  Some or all of the checks that you receive back from us may be substitute check(s). An electronic check can be used to create a substitute check since the electronic image and electronic information was derived from its paper form.

  31. REMOTE DEPOSIT CAPTURE. Remote deposit capture ("RDC") allows you to make deposits to your account from remote locations by electronically transmitting digital images of your original paper checks, which are drawn on or payable through United States financial institutions in United States dollars to us. We may then use the digital image to create an electronic check or substitute check for collection. If you use our RDC services, if applicable, we may require you to endorse the back of the paper check to indicate that it has been remotely deposited. For example, "for mobile deposit only."

  32. PREAUTHORIZED CHECKS OR DRAFTS. You should guard information about your account (such as your routing number and your account number) as carefully as you would guard blank checks. If you voluntarily give such information about your account to a party which is seeking to sell you goods or services, without physically delivering a check to it, any debit to or withdrawal from your account it initiates will be deemed authorized by you.

  33. STALE OR POSTDATED CHECKS . We reserve the right to pay or dishonor a check more than 6 months old without prior notice to you. If you can write checks on your account, you agree not to postdate any check drawn on the account.  If you do and the check is presented for payment before the date of the check, we may pay it or return it unpaid.  We are not liable for paying any stale or postdated check.  Any damages you incur that we may be liable for are limited to actual damages not to exceed the amount of the check.

  34. VERIFYING FUNDS AVAILABILITY FOR CHECK. You authorize us to release funds availability information about your account to individuals or merchants who represent to us that they have received a check or other item from you.

  35. CHECK SAFEKEEPING. If you can write checks on your account and utilize a check safekeeping or any other system offered by us for the retention of your checks, you understand that the canceled checks will be retained by us and destroyed after a reasonable time period, or as required by law. At your request, we will provide without charge up to 25 canceled instruments or legible copies of the fronts and backs thereof per calendar year.  Additional copies may be subject to a fee, as indicated in the Schedule of Fees or Disclosures.  If for any reason we cannot provide you with a copy of a check, our liability will be limited to the lesser of the face amount of the check or the actual damages sustained by you.

  36. REMOTELY CREATED CHECKS.  A remotely created check, as defined in Regulation CC, means a check that is not created by the paying bank and that does not bear a signature applied, or purported to be applied, by the person on whose account the check is drawn. By having a deposit account with us, you certify that all remotely created checks deposited to your account(s) will be expressly and verifiably authorized by the payor. And we reserve the rights to refuse for deposit any such remotely created check if we have any reason to believe that the item is fraudulent in any manner, and to obtain from you the payor’s express, verifiable authorization for any such check.

  37. STATEMENTS. If your account is a Checking, NOW, Money Market, or Statement Savings account, we will provide you with a periodic statement showing the account activity. The last address you supply us in writing will be deemed the proper address for mailing this statement to you.

    The account holder who receives this statement is the agent for his/ her co-account holder(s) for purposes of receiving the statement and items. You must exercise reasonable care in reviewing your statement and reasonable promptness in notifying us of any discrepancies, such as alterations or forged or unauthorized signatures, even if by the same wrongdoer. You must notify us within 30 days after we mail or otherwise make the statement available to you of any discrepancies, except for transfers governed by the Wire Transfer Agreement. If you fail to notify us with reasonable promptness, you will have no claim against us to the extent permitted by law.

    Additionally, you agree that we will not be liable for discrepancies reported to us after one year after we mail or otherwise make the statement or items available to you, even if we failed to exercise reasonable care. However, if the discrepancy is the result of an electronic fund transfer, the provisions of our Disclosures will control its resolution. If you do not receive a statement from us because you have failed to claim it, or have supplied us with an incorrect address, we may stop sending your statements until you specifically make written request that we resume sending your statements and you supply us with a proper address.

  38. ELECTRONIC STATEMENTS AND NOTICES. You may have the option to have statements and notices regarding this account provided to you in an electronic form, including to a designated e-mail address, through an online banking portal, or other electronic method, upon your authorization. The authorization may be withdrawn at any time to return to a mailed paper form by providing written notice to us at the address provided. The fees for receiving in either form, and for receiving paper copies, are described in your Disclosures. In order to receive your account information in an electronic form, the receiving system may have to meet specific requirements. We will keep you informed of any change to the minimum hardware or software requirements

  39. SIGNATURES - Your signature on the Account Information form is your authorized signature. You authorize us, at any time, to charge you for all checks, drafts, orders, or other items for the payment of money, that are drawn on us regardless of by whom or by what means (including facsimile signature(s)) may have been affixed so long as they resemble the signature specimen in our files.  For withdrawal and for other purposes relating to any account you have with us, we are authorized to recognize your signature and we will not be liable to you for refusing to honor signed instruments or instructions if we believe in good faith that one or more of the signatures appearing on the instrument or instruction is not genuine.

    If your items are signed using any facsimile signature or non-manual form of signature, you acknowledge that it is solely for your benefit and convenience.  You agree that no facsimile signature you have authorized us to honor may be considered a forgery or an unauthorized signature, and that every authorized facsimile signature shall be effective as the signatory's own original, manual signature.  You accept sole responsibility for maintaining security over any device affixing the signature as such signature will be effective regardless of whether the person affixing it was authorized to do so.  Your authorization notwithstanding, we are not obligated to accept or pay any items bearing facsimile signatures.

    Further, most checks, drafts, orders and other items are processed automatically, i.e., without individual review of each item. Therefore, unless we agree in a separate writing, in our sole discretion, upon your request and due to unique circumstances to conduct individual review of checks, drafts, orders or other items for more than one signer, you agree that we are acting within common and reasonable banking practices by automatically processing these items. You agree to indemnify, defend, and hold us harmless from and against all loss, costs, damage, liability, and other injury (including reasonable attorney fees) that you or we may suffer or incur as a result of this practice.

  40. RESTRICTIVE LEGENDS. We are not required to honor any restrictive legend on checks you write unless we have agreed to the restriction in a writing signed by an officer of the financial institution. Examples of restrictive legends are "two signatures required", "must be presented within 90 days" or "not valid for more than $1,000.00."

  41. OUR WAIVER OF RIGHTS. You understand and agree that no delay or failure on our part to exercise any right, remedy, power or privilege available to us under this Agreement shall affect or preclude our future exercise of that right, remedy, power or privilege.

  42.  YOUR WAIVER OF NOTEICE.  By signing the signature card/Account Information form, you waive any notice of non-payment, dishonor or protest regarding any items credited to or charged against your deposit account to the extent permitted by law. For example, if a check that you deposited is dishonored and returned to us, we are not required to notify you of the dishonor.

  43. DEATH OR INCOMPENTENCY. Neither your death or a legal adjudication of incompetence revokes our authority to accept, pay, or collect items until we know of the fact of death or of an adjudication of incompetence and have a reasonable opportunity to act on it. To the extent permitted by law, even with knowledge, we may for 10 days after the date of death, pay checks drawn on or before the date of death unless ordered to stop payment by a person claiming an interest in the account.

©TruStage Compliance Solutions 1994-2023 ITEM 640MAL6 (243/2023)


ACCOUNT SPECIFIC PROVISIONS - In addition to the General Rules, the following rules apply to specific types of accounts:


CHECKING AND NOW ACCOUNTS

CHECKING ACCOUNTS - If your account is a checking account, it will be either non-interest bearing or interest bearing as defined in the Truth in Savings Disclosure.

WITHDRAWALS - Deposits will be available for withdrawal consistent with the terms of our Disclosures.  Withdrawals may be subject to a service charge.

WITHDRAWAL NOTICE REQUIREMENTS - If your account is a NOW account or a non-demand deposit checking account, we have the right to require seven (7) days prior written notice from you of your intent to withdraw any funds from your account.


MONEY MARKET AND SAVINGS ACCOUNTS

WITHDRAWALS - We have the right to require seven (7) days prior written notice from you of your intent to withdraw any funds from your account.  Withdrawals may be subject to a service charge.


SAVINGS ACCOUNTS

PASSBOOKS - If your account is a passbook account and you wish to make a withdrawal without your passbook, we can refuse to allow the withdrawal.  If your passbook is lost or stolen, you will immediately notify us in writing.


CERTIFICATES OF DEPOSIT/CERTIFICATE OF DEPOSIT ACCOUNTS

ACCOUNT TERMS - The Certificate bears interest at the rate and basis as set forth on the Certificate.  The terms of the Certificate, such as the interest rate(s), Annual Percentage Yield ("APY"), length of term period, renewability, and date of maturity are specified on the Certificate and in the Disclosures provided to you at the time of account opening.   Interest will not be compounded unless noted and will be paid to you at the frequency and in the method noted.  If interest compounds during the term of the Certificate and may be withdrawn prior to maturity, the withdrawal of interest prior to maturity will affect the APY.

WITHDRAWAL PRIOR TO MATURITY - You have contracted to keep the account funds on deposit from the issue date until the maturity date.  We may accept a request by you for withdrawal of some or all of the account funds prior to the maturity date at our discretion or as otherwise described in the Disclosures.   

ADDITIONAL DEPOSITS DURING THE TERM - No additional deposits will be allowed to this account during its term unless otherwise described in the Disclosures.

EARLY WITHDRAWAL PENALTY - Unless provided otherwise in the Disclosures, we will assess an early withdrawal penalty on any withdrawal, either partial or in whole, that we allow you to make from your account prior to the account's maturity date.  The method for determining that penalty is described in the Disclosures.

RENEWAL - Automatic Renewal Certificates will renew automatically on the stated maturity date of its term.  Such renewal will be for a time period equal or similar to the original term and subject to these terms and conditions.  Interest for that renewal term will be paid at the interest rate then in effect at this financial institution for similar accounts.  If you close the Certificate within the grace period following the maturity date, we will not charge an early withdrawal penalty for that withdrawal.  The grace period following a maturity date is described in the Disclosures.

SINGLE MATURITY - Single Maturity Certificates will not automatically renew at maturity.  The Disclosures describe our policy concerning the account's status following the maturity date.  To ensure a continuation of interest earning, you must arrange for a new investment of the account balance.

©TruStage Compliance Solutions 1994 - 2023 ITEM 640MAL6 (243/2023)


ELECTRONIC FUND TRANSFER DISCLOSURE AND AGREEMENT

For purposes of this disclosure and agreement the terms "we", "us" and "our" refer to Florence Bank.  The terms "you" and "your" refer to the recipient of this disclosure and agreement.   

The Electronic Fund Transfer Act and Regulation E require institutions to provide certain information to customers regarding electronic fund transfers (EFTs).  This disclosure applies to any EFT service you receive from us related to an account established primarily for personal, family or household purposes.  Examples of EFT services include direct deposits to your account, automatic regular payments made from your account to a third party and one-time electronic payments from your account using information from your check to pay for purchases or to pay bills.  This disclosure also applies to the use of your Florence Bank Visa® Debit Card (hereinafter referred to collectively as "Debit Card") at automated teller machines (ATMs) and any networks described below.

TERMS AND CONDITIONS - The following provisions govern the use of EFT services through accounts held by Florence Bank which are established primarily for personal, family or household purposes.  If you use any EFT services provided, you agree to be bound by the applicable terms and conditions listed below.  Please read this document carefully and retain it for future reference.

DEFINITION OF BUSINESS DAY - Business days are Monday through Friday excluding holidays.


ELECTRONIC FUND TRANSFER SERVICES PROVIDED

DEBIT CARD SERVICES - The services available through use of your debit card are described below.

DEBIT CARD SERVICES:

  • You may withdraw cash from your checking account(s), money market account(s), and statement savings account(s).
  • You may make deposits into your checking account(s), money market account(s), and statement savings account(s).
  • You may transfer funds between your checking, money market and statement savings account(s).
  • You may make balance inquiries on your checking account(s), statement savings account(s), and money market account(s).
  • You may use your card at any merchant that accepts Visa® debit cards for the purchase of goods and services.

ATM SERVICES

NETWORK - Your ability to perform the transactions or access the accounts set forth above depends on the location and type of ATM you are using and the network through which the transaction is being performed.  A specific ATM or network may not perform or permit all of the above transactions.

You may access your Debit Card through the following network(s): NYCE, Cirrus, Pulse, PLUS, and additional VISA®,  MC®, Discover® and Amex® networks.

ATM FEES - When you use an ATM not owned by us, you may be charged a fee by the ATM operator or any network used, and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer.

POINT OF SALE TRANSACTIONS - Listed below is the card you may use to purchase goods and services from merchants that have arranged to accept your card as a means of payment (these merchants are referred to as "Participating Merchants").  Some Participating Merchants may permit you to receive cash back as part of your purchase.  Purchases made with your card, including any purchase where you receive cash, are referred to as "Point of Sale" transactions and will cause your "designated account" to be debited for the amount of the purchase.  We have the right to return any check or other item drawn against your account to ensure there are funds available to pay for any Point of Sale transaction.  We may, but do not have to, allow transactions which exceed your available account balance or, if applicable, your available overdraft protection.  If we do, you agree to pay an amount equal to the overdrawn balance plus any overdraft fees.

The following card and the corresponding designated account(s) may be used for Point of Sale transactions:

  • Florence Bank Visa® Debit Card: checking account and in certain cases your statement savings or money market account.

Your Debit card may also be used to obtain cash from your designated account(s) at participating financial institutions when so authorized under the terms of your Account Agreement.

AUTHORIZATION HOLDS - An authorization hold is a temporary hold that is placed on your account for certain debit card transactions.  The amount of the temporary hold may be more than the actual amount of the transaction, so your available account balance will temporarily be reduced by the amount of the temporary hold.  If the authorization hold or the processing of subsequent transactions causes your account to have non-sufficient funds to pay the transaction, your account may be subject to a non-sufficient fund fee or subject to our Overdraft policy, and if applicable, any overdraft protection plan.

CURRENCY CONVERSION - Visa® - When you use your card with the Visa® logo at a merchant that settles in currency other than US dollars, the charge will be converted into the US dollar amount. The currency conversion rate used to determine the transaction amount in US dollars is a rate selected by Visa® from a range of rates available in wholesale currency markets for the applicable transaction date, which rate may vary from the rate Visa® itself receives, or the government-mandated rate in effect for the applicable transaction date, in each instance, plus or minus any adjustment determined by the issuer. The conversion rate in effect on the transaction date may differ from the rate in effect on the transaction central processing date or the posting date.

IMPORTANT ADDITIONAL FEE NOTICE - Visa® charges an International Service Assessment Fee on all international transactions.  Therefore, you will be charged 1% of the dollar amount of the transaction for each international transaction completed with your Visa® card when the country of the merchant or machine is different than your country as cardholder.  

SERVICES PROVIDED THROUGH USE OF 24-HOUR ACCOUNT ACCESS LINE - You may perform the following functions through use of 24-Hour Account Access Line:

  • You may initiate transfers of funds between your checking, money market and statement savings.
  • You may make balance inquiries on your checking account(s), savings account(s), and money market account(s).
  • You may make payments on consumer loans, home mortgage loans, and home equity loans that you have with us.

PREAUTHORIZED TRANSFER SERVICES

  • You may arrange for the preauthorized automatic deposit of funds to your checking account(s), savings account(s), and money market account(s).
  • You may arrange for the preauthorized automatic payments or other transfers from your checking account(s), money market account(s), and statement saving account(s).

SERVICES PROVIDED THROUGH USE OF ONLINE BANKING AND MOBILE BANKING - Florence Bank offers its customers use of our Online Banking and Mobile Banking service.  You may access your account(s) by computer, smart phone, or tablet through the internet by logging onto our website at florencebank.com and using your user identification, your password and your multifactor authentication to:

  • transfer funds between checking, money market, or statement saving(s)
  • transfer funds from your checking, money market, or statement savings to account(s) at another bank,
  • make payments from your checking, money market, or statement savings to loan account(s) with us,
  • make payments from checking to third parties.
  • get information about the account balance of checking, money market, or savings account(s)
  • get information about the last 180 days or more deposits, withdrawals and other activity from checking, savings and money market account(s).

ELECTRONIC CHECK CONVERSION - You may authorize a merchant or other payee to make a one-time electronic payment from your checking or money market account using information from your check to pay for purchases or to pay bills.


LIMITATIONS ON TRANSACTIONS

TRANSACTION LIMITATIONS – FLORENCE BANK VISA® DEBIT CARD

CASH WITHDRAWAL LIMITATIONS - You may withdraw up to $500.00 through use of ATMs in any one day.   There is a daily limit for all ATM withdrawal transactions.  For security reasons, specific dollar limits are disclosed at the time the Debit Card is issued.  Florence Bank reserves the right to change dollar amount limits at any time upon prior notification.

POINT OF SALE LIMITATIONS - You may buy up to $2,500.00 worth of goods or services in any one day through use of our Point of Sale service.

OTHER WITHDRAWAL LIMITATIONS - You may not exceed the daily transaction limit unless you notify us to request a higher limit.

OTHER LIMITATIONS -

  • We reserve the right to impose limitations for security purposes at any time.


NOTICE OF RIGHTS AND RESPONSIBILITIES

The use of any electronic fund transfer services described in this document creates certain rights and responsibilities regarding these services as described below.


RIGHT TO RECEIVE DOCUMENTATION OF YOUR TRANSFERS

TRANSACTION RECEIPTS - Depending on the location of an ATM, you may not be given the option to receive a receipt if your transaction is S15.00 or less.  Upon completing a transaction of more than $15.00, you will receive a printed receipt documenting the transaction (unless you choose not to get a paper receipt).  These receipts (or the transaction number given in place of the paper receipt) should be retained to verify that a transaction was performed.  A receipt will be provided for any transaction of more than $15.00 made with your Debit Card at a Participating Merchant.  If the transaction is $15.00 or less, the Participating Merchant is not required to provide a receipt.

PERIODIC STATEMENTS - If your account is subject to receiving a monthly statement, all EFT transactions will be reported on it.  If your account is subject to receiving a statement less frequently than monthly, then you will continue to receive your statement on that cycle, unless there are EFT transactions, in which case you will receive a monthly statement.  In any case you will receive your statement at least quarterly.

PREAUTHORIZED DEPOSITS - If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company:

  • you can call us at 888-372-2228 to find out whether or not the deposit has been made.

PASSBOOK ACCOUNTS - If the only type of electronic fund transactions are preauthorized deposits you will not receive a statement for your Passbook account.  If you bring your Passbook to us, we will record any electronic deposits that were made to your account since the last time you brought in your Passbook.  You will not receive a periodic statement noting these transactions on your Passbook account.

USING YOUR CARD AND PERSONAL IDENTIFICATION NUMBER ("PIN") - In order to assist us in maintaining the security of your account and the terminals, the Debit Card remains our property and may be revoked or canceled at any time without giving you prior notice.   You agree not to use your Debit Card for a transaction that would cause your account balance to go below zero, or to access an account that is no longer available or lacks sufficient funds to complete the transaction, including any available line of credit.   We will not be required to complete any such transaction, but if we do, we may, at our sole discretion, charge or credit the transaction to another account; you agree to pay us the amount of the improper withdrawal or transfer upon request.

Certain transactions involving your Debit Card require use of your PIN.   Your PIN is used to identify you as an authorized user.   Because the PIN is used for identification purposes, you agree to notify Florence Bank immediately if your Debit Card is lost or if the secrecy of your PIN is compromised.  You also agree not to reveal your PIN to any person not authorized by you to use your Debit Card or to write your PIN on your Debit Card or on any other item kept with your Debit Card.  We have the right to refuse a transaction on your account when your Debit Card or PIN has been reported lost or stolen or when we reasonably believe there is unusual activity on your account.

The security of your account depends upon your maintaining possession of your Debit Card and the secrecy of your PIN. You may change your PIN if you feel that the secrecy of your PIN has been compromised. You may change your PIN at an ATM or via the telephone


RIGHTS REGARDING PREAUTHORIZED TRANSFERS

RIGHTS AND PROCEDURES TO STOP PAYMENTS - If you have instructed us to make regular preauthorized transfers out of your account, you may stop any of the payments.  To stop a payment,

Call us at:  (413) 586-1300

Or

Write to:   Florence Bank

                        Attn: Customer Service Center

                        85 Main Street            

                        Florence MA 01062

We must receive your call or written request at least three (3) business days prior to the scheduled payment.  If you call, please have the following information ready: your account number, the date the transfer is to take place, to whom the transfer is being made and the amount of the scheduled transfer.  If you call, we will require you to put your request in writing and deliver it to us within fourteen (14) days after you call.

NOTICE OF VARYING AMOUNTS - If you have arranged for automatic periodic payments to be deducted from your checking or savings account and these payments vary in amount, you will be notified by the person or company you are going to pay ten (10) days prior to the payment date of the amount to be deducted.  You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.

OUR LIABILITY FOR FAILURE TO STOP PRE-AUTHORIZED TRANSFER PAYMENTS - If you order us to stop one of the payments and have provided us with the information we need at least three (3) business days prior to the scheduled transfer, and we do not stop the transfer, we will be liable for your losses or damages.

YOUR RESPONSIBILITY TO NOTIFY US OF LOSS OR THEFT - If you believe your Debit Card or PIN or internet banking access code has been lost or stolen, call us by:

Phone at:                          413-586-1300 or 1-800-644-8261 (Monday through Friday 8:00 am to 5:00 pm, Saturday -12pm excluding Federal Holidays), or

Mail at:                               Florence Bank

                                                85 Main Street

                                                Florence MA 01062,

Or email at customerservice@florencebank.com

You should also call the number or write to the address listed above if you believe a transfer has been made using the information from your check without your permission.

CONSUMER LIABILITY - Tell us at once if you believe your Debit Card or PIN or internet banking access code has been lost or stolen or used without permission or if you believe that an electronic fund transfer has been made without your permission using information from your check.  Telephoning is the best way of keeping your possible losses down.  You could lose all the money in your account (plus your maximum overdraft line of credit, if applicable).

Your liability shall not exceed $50.00 for any unauthorized electronic fund transfer or a series of transfers arising from a single loss or theft of your Debit Card or PIN.   Also, if your statement shows transfers you did not make, including those made by card, code, or other means, tell us at once.  If you do not tell us within 60 days after the statement was transmitted to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time.  If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.

CONSUMER LIABILITY FOR UNAUTHORIZED TRANSACTIONS INVOLVING FLORENCE BANK VISA® DEBIT CARD - The limitations on your liability for unauthorized transactions described above generally apply to all electronic fund transfers.  However, different limitations apply to certain transactions involving your card with the Visa® logo.  These limits apply to unauthorized transactions processed on the Visa® or Plus Network.   If you notify us about an unauthorized transaction involving your card with the Visa® logo and the unauthorized transaction took place on the Visa® or Plus Network, zero liability will be imposed on you for the unauthorized transaction.  We may increase the limit of your liability for such unauthorized transactions if we reasonably determine, based on substantial evidence, that you were negligent or fraudulent in the handling of your account or your card with the Visa® logo, you were proven to have participated in the transaction, or both.  The zero liability provisions do not apply to PIN-based debit transactions not processed by the Visa® or Plus Network, including ATM transactions outside of the United States.   Your liability for unauthorized transactions with your card with the Visa® logo that involve PIN-based debit transactions not processed by the Visa® or Plus Network, including ATM transactions, are described under "Consumer Liability'" above.

ILLEGAL USE OF DEBIT CARD - You agree not to use your Debit Card for any illegal transactions, including internet gambling and similar activities.

IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR TRANSACTIONS - In case of errors or questions about your electronic fund transfers,

call us by:

Phone at:                           413-586-1300 or 1-800-644-8261 (Monday-Friday 8 a.m. to 5 p.m., Saturday 9 a.m. to 12 p.m., excluding Federal Holidays), or

Mail at:                               Florence Bank

                                                85 Main Street

                                                Florence MA 01062, or

Email at:                            customerservice@florencebank.com

Notification should be made as soon as possible if you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement or receipt.  You must contact Florence Bank no later than 60 days after we sent you the first statement on which the problem or error appears.  You must be prepared to provide the following information:

  • Your name and account number.
  • A description of the error or transaction you are unsure about along with an explanation as to why you believe it is an error or why you need more information.
  • The dollar amount of the suspected error.

If you provide oral notice, you will be required to send in your complaint or question in writing within ten (10) business days.

We will determine whether an error occurred within ten (10) business days (twenty (20) business days for new accounts) after we hear from you and will correct any error promptly.  If we need more time, however, we may take up to forty-five (45) days (ninety (90) days for new accounts and foreign initiated or Point of Sale transfers) to investigate your complaint or question.  If we decide to do this, we will credit your account within ten (10) business days (twenty (20) business days for new accounts) for the amount which you think is in error, so that you will have use of the money during the time it takes to complete our investigation.  If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not credit your account.  The extended time periods for new accounts apply to all electronic fund transfers that occur within the first thirty (30) days after the first deposit to the account is made, including those for foreign initiated or Point of Sale transactions.  Visa's® cardholder protection policy requires that we provide provisional credit for losses from unauthorized Visa® Check Card use within five (5) business days of notification of the loss, unless we determine that additional investigation is warranted and allowed by applicable laws or regulations.

We will tell you the results within three (3) business days after completing our investigation.  If we decide that there was no error, we will send you a written explanation.   You may ask for copies of the documents that we used in our investigation.

LIABILITY FOR FAILURE TO COMPLETE A TRANSACTION - If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages as provided by law.  However, there are some exceptions.  We will NOT be liable, for instance:

  • If through no fault of ours, you do not have enough money in your account to make the transfer.
  • If the transfer would result in your exceeding the credit limit on your line of credit, if you have one.
  • If the electronic terminal was not working properly and you knew about the breakdown before you started the transfer.
  • If circumstances beyond our control (such as fire or flood, computer or machine breakdown, or failure or interruption of communications facilities) prevent the transfer, despite reasonable precautions we have taken.
  • If we have terminated our Agreement with you.
  • When your Debit Card has been reported lost or stolen or we have reason to believe that something is wrong with a transaction.
  • If we receive inaccurate or incomplete information needed to complete a transaction.
  • In the case of preauthorized transfers, we will not be liable where there is a breakdown of the system which would normally handle the transfer.
  • If the funds in the account are subject to legal action preventing a transfer to or from your account.
  • If the electronic terminal does not have enough cash to complete the transaction.

There may be other exceptions provided by applicable law.

CHARGES FOR TRANSFERS OR THE RIGHT TO MAKE TRANSFERS.

Fee Schedule: The fee schedule referred to above is being provided separately and is incorporated into this document by reference. Additional copies of the schedule may be obtained from Florence Bank upon request.

DISCLOSURE OF ACCOUNT INFORMATION - You agree that merchant authorization messages transmitted in connection with Point of Sale transactions are permissible disclosures of account information, and you further agree to release Florence Bank and hold it harmless from any liability arising out of the transmission of these messages.   

We will disclose information to third parties about your account or electronic fund transfers made to your account:

  1. Where necessary to complete a transfer or to investigate and resolve errors involving the transfer(s); or
  2. In order to verify the existence and condition of your account for a third party such as a credit bureau or merchant; or
  3. In order to comply with government agency or court orders; or
  4. If you give us your permission in a record or writing.

AMENDING OR TERMINATING THE AGREEMENT - We may change this agreement from time to time.  You will be notified at least 30 days before a change will take effect if it will cause you an increase in costs or liability or it will limit your ability to make electronic fund transfers.  No notice will be given if the change is necessary for security reasons.  We also have the right to terminate this agreement at any time.

SAFETY PRECAUTIONS FOR ATM TERMINAL USAGE - Please keep in mind the following basic safety tips whenever you use an ATM:

  • Have your Debit Card ready to use when you reach the ATM. Have all of your forms ready before you get to the machine.  Keep some extra forms (envelopes) at home for this purpose.
  • If you are new to ATM usage, use machines close to or inside a financial institution until you become comfortable and can conduct your usage quickly.
  • If using an ATM in an isolated area, take someone else with you if possible. Have them watch from the car as you conduct your transaction.
  • Do not use ATMs at night unless the area and machine are well-lighted. If the lights are out, go to a different location.
  • If someone else is using the machine you want to use, stand back or stay in your car until the machine is free. Watch out for suspicious people lurking around ATMs, especially during the times that few people are around.
  • When using the machine, stand so you block anyone else's view from behind.
  • If anything suspicious occurs when you are using a machine, cancel what you are doing and leave immediately. If going to your car, lock your doors.
  • Do not stand at the ATM counting cash. Check that you received the right amount later in a secure place, and reconcile it to your receipt then.
  • Keep your receipts and verify transactions on your account statement. Report errors immediately.  Do not leave receipts at an ATM location.


ADDITIONAL PROVISIONS

Your account is also governed by the terms and conditions of other applicable agreements between you and Florence Bank. Please refer to Truth in Savings Disclosures for further information on accounts accessible through Electronic Fund Transfers.

©2007-2023 Compliance Systems, LLC  e9e3587e-23082b0e -2023.3.0.2 Electronic Fund Transfer Disclosure And Agreement - DD8108


FUNDS AVAILABILITY POLICY DISCLOSURE

PERSONAL DEPOSIT ACCOUNTS

PURPOSE OF THIS DISCLOSURE - Our general policy is to allow you to withdraw funds deposited in an account by the second Business Day after the day of deposit. Funds from electronic direct deposits will be available on the day we receive the deposit. In some cases we may delay your ability to withdraw funds beyond the second Business Day after the day of deposit. Our complete policy is summarized below.

For purposes of this disclosure, the terms "you”/”your" refer to the customer and the terms "our”/”we”/”us" refer to Florence Bank. The term "account" includes any demand deposit, negotiable withdrawal order account, savings deposit or other asset account.

 

DETERMINING THE AVAILABILITY OF YOUR DEPOSIT - The length of the delay varies depending on the type of deposit and is explained below.  When we delay your ability to withdraw funds from a deposit, you may not withdraw the funds in cash, and we will not pay checks you have written on your account by using these funds.  Even after we have made funds available to you and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.   When we delay your ability to withdraw funds, the length of the delay is counted in Business Days from the day of your deposit.  The term "Business Day" means any day other than a Saturday, Sunday or federally declared legal holiday, and the term "Banking Day" means that part of any Business Day on which we are open to the public for carrying on substantially all of our banking functions.   If you make a deposit before the close of business on a Business Day that we are open, we will consider that day to be the day of your deposit.  However, if you make a deposit after the close of business or on a day that we are not open, we will consider the deposit made on the next Business Day we are open.


AVAILABILITY SCHEDULE

SAME DAY AVAILABILITY - Funds from deposits of:

  • electronic direct deposits 
  • cash*
  • wire transfers
  • US Treasury checks**
  • US Postal Service money orders**
  • Federal Reserve Bank or Federal Home Loan Bank checks**
  • State or Local Government checks **
  • Cashier’s, Certified, or Teller's checks** 
  • checks drawn on us 

will also be available on the day of deposit.

OTHER CHECK DEPOSITS - Funds from all other check deposits will be available by the second Business Day after the day of your deposit.  The first $225.00 of your deposits, however, will be available on the same day that we receive your deposit.

*Cash deposits. If the cash deposits are made in person to an employee of Florence Bank, then the funds are available on the day we receive your deposit. If they are not made in person to an employee, then the funds will be available no later than the next Business Day after the day of your deposit.
** Check Deposits. Check Deposits include U.S. Treasury Checks; U.S.Postal Service money orders; Federal Reserve Bank or Federal Home Loan Bank checks; State or Local Government checks; and Cashier’s, Certified, or Teller’s checks. In order for theses check deposits to be made available according to the funds availability schedule above, the following conditions are required;
U.S. Treasury Checks. These checks must be payable to you and deposited into your account.
U.S. Postal Service Money Orders; Federal Reserve Bank or Federal Home Loan Bank Checks; State or Local Government Checks; or Cashier’s, Certified, or Teller’s Checks. These checks must be payable to you, made in person to one of our employees, and deposited into your account.
If any of these conditions are not satisfied, then the funds from these check deposits will be made available no later than the second Business Day after the day of your deposit.

LONGER DELAYS MAY APPLY - In some cases, we will not make all of the funds that you deposit by check available to you according to the previously stated availability schedule.  Depending on the type of check that you deposit, funds may not be available until the second Business Day after the day of your deposit.  The first $225.00 of your deposits, however, may be available on the day of deposit.   If we are not going to make all of the funds from your deposit available to you according to the previously stated availability' schedule, we will notify you at the time you make your deposit.  We will also tell you when the funds will be available.  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 mail you the notice by the day after we receive your deposit.  If you will need the funds from a deposit right away, you should ask us when the funds will be available.

Funds you deposit by check may be delayed for a longer period under the following circumstances:

  1. if we believe a check you deposit will not be paid;
  2. if you deposit checks totaling more than $5,525.00 on any one day;
  3. if you redeposit a check that has been returned unpaid;
  4. if you have overdrawn your account repeatedly in the last six months; or
  5. if an emergency condition arises that would not enable us to make the funds available to you, such as the failure of computer or communications equipment.

We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available.  They will generally be available no later than the seventh Business Day after the day of your deposit.  If you will need the funds from a deposit right away, you should ask us when the funds will be available.

HOLDS ON OTHER FUNDS FOR CHECK CASHING - If we cash a check for you that is drawn on another financial institution, we may withhold the availability of a corresponding amount of funds that are already in your account.  Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.

HOLDS ON OTHER FUNDS IN ANOTHER ACCOUNT - If we accept for deposit a check that is drawn on another financial institution, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us.  The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.

SPECIAL RULES FOR NEW ACCOUNTS - If you are a new customer, the following special rules will apply during the first 30 days your account is open.

SAME DAY AVAILABILITY - Funds from electronic direct deposits, cash*, wire transfers and checks drawn on us made to your account will be available on the day we receive the deposit. In addition, the first $5,525.00 of a day’s total deposits of:

  • US Treasury checks**
  • US Postal Service money orders**
  • Federal Reserve Bank or Federal Home Loan Bank checks**
  • State or Local Government checks** 
  • Cashier’s, Certified, or Teller's checks**
  • Traveler's Checks**

will also be available the day of deposit.

Funds Exceeding $5,525. The excess over $5,525 of a day’s total check deposits will be available by the fifth Business Day after the day of your deposit.
Other Check Deposits. Funds from all other check deposits will be available by the fifth Business Day after the day of deposit.
*Cash Deposits. Funds from cash deposits (whether or not they are made in person to an employee of Florence Bank) are made available on the same Business Day that we receive your deposit.
**Check Deposits. Check Deposits include U.S. Treasury Checks; U.S.Postal Service money orders; Federal Reserve Bank or Federal Home Loan Bank checks; State or Local Government checks; and Cashier’s, Certified, or Teller’s checks. In order for theses check deposits to be made available according to the funds availability schedule above, the following conditions are required;
U.S. Treasury Checks. These checks must be payable to you and deposited into your account.
U.S. Postal Service Money Orders; Federal Reserve Bank or Federal Home Loan Bank Checks; State or Local Government Checks; or Cashier’s, Certified, or Teller’s Checks. These checks must be payable to you, made in person to one of our employees, and deposited into your account.
If any of these conditions are not satisfied, then the first $5,525 of a day’s total check deposits will be made available no later than the second Business Day after the day of your deposit.

DEPOSITS AT AUTOMATED TELLER MACHINES - If you make a deposit at an automated teller machine (ATM) that is owned and operated by us before 6:00 PM on a Business Day that we are open, we will consider the deposit made that day.  However, if you make a deposit at an ATM that is owned and operated by us after 6:00 PM or on a day that we are not open, we will consider the deposit made on the next Business Day we are open.

 

ADDITIONAL DEPOSIT INFORMATION

DEPOSITS MADE THROUGH MOBILE REMOTE DEPOSIT SERVICE - Funds from any deposits made using Mobile Remote Deposit Capture will be subject to a system hold as disclosed in the Mobile Remote Deposit Service agreement.

HOLDS ON OTHER FUNDS FOR CHECK CASHING. If we cash a check for you that is drawn on another financial institution, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.

HOLDS ON OTHER FUNDS IN ANOTHER ACCOUNT. If we accept for deposit a check that is drawn on another financial institution, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check you deposited.

©2007-2021 Compliance Systems. LLC 595ec348-88aad54f-2022.210.0.3 Funds Availability Policy Disclosure - DD8107


SUBSTITUTE CHECK POLICY DISCLOSURE

IMPORTANT INFORMATION ABOUT YOUR ACCOUNT
Substitute Checks and Your Rights

WHAT IS A SUBSTITUTE CHECK? To make check processing faster, federal law permits banks to replace original checks with "substitute checks." These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check.  The front of a substitute check states: "This is a legal copy of your check.  You can use it the same way you would use the original check." You may use a substitute check as proof of payment just like the original check.   Some or all of the checks that you receive back from us may be substitute checks.  This notice describes rights you have when you receive substitute checks from us.  The rights in this notice do not apply to original checks or to electronic debits to your account.  However, you have rights under other law with respect to those transactions.

WHAT ARE MY RIGHTS REGARDING SUBSTITUTE CHECKS? In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check).  The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees).   The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less.  You also are entitled to interest on the amount of your refund if your account is an interest-bearing account.  If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law.   If you use this procedure, you may receive up to $2,500.00 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim.  We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account.

HOW DO I MAKE A CLAIM FOR A REFUND? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us by:

Phone at:                           413-586-1300 or 1-800-644-8261 (Monday through Friday 8:00 am to 5:00 pm excluding Federal Holidays), or

Mail at:                               Florence Bank

                                                85 Main Street

                                                Florence MA 01062, or

Email at:                            customerservice@florencebank.com

You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later.  We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances.

Your claim must include:

  • A description of why you have suffered a loss (for example, you think the amount withdrawn was incorrect);
  • An estimate of the amount of your loss;
  • An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss; and
  • A copy of the substitute check and/or the following information to help us identify the substitute check such as the check number, the name of the person to whom you wrote the check, the amount of the check.

© 2004-2020 Compliance Systems LLC 8038b301-dc2b2092-2020.340.0.7 Substitute Check Policy Disclosure-DD8027

                                                                                             TRUTH IN SAVINGS

Tell A Friend Account Bonus Promotion Limited time offer.  This $25 bonus offer is available to new and existing Florence Bank personal checking customers.  The person making the referral must have a personal Florence Bank checking account; is limited to one $25 bonus per referred customer.  The person being referred must deposit a minimum of $10 to open a personal checking account and must not have held a Florence Bank checking account in the last 180 days.  The referral form or online entry must be presented at the time the account is opened.  By participating in this program, each party may be aware that the other is a Florence Bank customer.  Florence Bank employees are not eligible.  $25 bonus may take up to 30 days from the date of account opening to appear in both the referring customer’s account and the referred customer’s account.  Each bonus will be considered interest for tax purposes and is subject to 1099 reporting. This offer may be withdrawn at any time. 

Checking Account Bonus Promotion - Limited time offer. This $350 bonus offer is available to new and existing Florence Bank mortgage customers who open a personal Florence Bank checking account online using promo code “Mortgage”. Earn $250 when you set up and have at least one direct deposit post to your new Florence Bank checking account. Earn an additional $100 when you enroll your mortgage in eDocuments. Conditions must be met within 60 days of opening your new Florence Bank checking account. Each cash bonus will post to your new checking account within 14 days after each condition is met. A minimum opening deposit of $10 is required to open the new personal checking account. Current or former customers who have held a Florence Bank checking account in the last 180 days are not eligible. If multiple accounts are opened by the same signer, only one account will be eligible for the bonuses. Each bonus will be considered interest for tax purposes and is subject to 1099 reporting. This offer may be withdrawn at any time. 

FREE CHECKING

MINIMUM BALANCE REQUIREMENTS - You must deposit $10.00 to open this account.

PROCESSING ORDER - Our policy is to process ATM withdrawals, Online Banking transfers, Withdrawals, and Over the Counter Checks processed at our branches and PIN based debit and signature based debit card transactions, on the day they are received.  We process checks in numerical order (by check number) on the day they are received.  Online Banking bill payments are processed as ACH debits or checks drawn on your account in the same manner described above.  The processing order of these items is important because if there is not enough money in the account to pay for the items in the order they are processed in accordance with the processing order, there may be an overdraft on your account which may result in overdraft or non-sufficient funds fees or an increase in the amount of these fees.

TRANSACTION LIMITATIONS - No transaction limitations apply to this account.

FEES AND CHARGES - Please refer to the separate fee schedule provided to you with this disclosure for information about fees and charges associated with this account.  A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.

©2007-2020 Compliance Systems, LLC 99df901a-ac047a3b  - 2020.340.0.7 Truth In Savings DD8016


REWARDS CHECKING

ELIGIBILITY REQUIREMENTS - To qualify for the Rewards interest rate and annual percentage yield, you must:

  • make at least 12 debit card purchase transactions (not including ATM transactions) that post to your account during each monthly statement cycle; and Debit card transactions processed by merchants and received by the bank as ATM transactions do not count towards qualifying debit card transactions. Only debit card transactions processed by merchants and received by the bank as POS transactions count towards qualifying debit card transactions.
  • have at least 1 ACH third-party automatic debit or credit transaction (including direct deposits) post to your account during each monthly cycle; and
  • agree to receive your monthly statement electronically, and access and view your statement online.

To obtain electronic statements you must register for Online Banking at florencebank.com and provide the bank with your consent to receive electronic statements.  The consent form will provide you with the terms and conditions for this service. You must view your statement to complete the electronic statement sign up process. If you do not qualify because you did not meet the requirements during the statement cycle, you will not receive refunds of any foreign ATM fees charged to your account. 

Debit card transactions processed by merchants and received by the bank as ATM transactions do not count towards qualifying debit card transactions.  Only debit card transactions processed by merchants and received by the bank as POS transactions count towards qualifying debit card transactions.

Monthly Statement Cycle - To qualify for the Rewards interest rate and annual percentage yield, transaction activity will be measured for items posted to your account for the monthly period beginning on the first day of the statement cycle through to the last day of the current statement cycle. Statement cycles fall on the calendar month schedule, except when the last day of the calendar month falls on a Saturday, a Sunday or a federal holiday, your statement cycle will begin on the last business day before the last calendar day of the month.

STATEMENT CYCLE CUTOFF DATE - Your statement cycle cutoff day is the last calendar day of the month.  If the last calendar day of the month falls on a Saturday, a Sunday or a federal holiday, your statement cycle cutoff day will be the last business day before the last calendar day of the month.

RATE INFORMATION - The interest rate listed in a tier will be paid for only that portion of your daily balance range that is equal to or greater than the low balance amount but less than the high balance amount within that tier.


Tier

Daily Balance Range

Interest Rate

Depending on the balance in your account the Annual Percentage Yield (APY) will:

1

Equal to or greater than $.01 but less than $25,000.01

0.25%

equal 0.25%

2

Equal to or greater than $25,000.01

0.10%

range from 0.25% to 0.21%*

*Assumes a principal balance of $35,000. APY earned depends on the actual principal balance.
Your interest rate and annual percentage yield may change.

DETERMINATION OF RATE - At our discretion, we may change the interest rate on your account.

If you do not meet the eligibility requirements during the qualification cycle, the rate paid in your account on the entire balance will be 0.01% with an annual percentage yield of 0.01%.

FREQUENCY OF RATE CHANGES - We may change the interest rate on your account at any time.

LIMITATIONS ON RATE CHANGES - There are no maximum or minimum interest rate limits for this account.

COMPOUNDING AND CREDITING - Interest will compound monthly and will be credited to your account monthly.  If you close your account before interest is credited, you will not receive the accrued interest, nor will you receive a refund of foreign ATM fees charged to your account.

MINIMUM BALANCE REQUIREMENTS - You must deposit S10.00 to open this account. 

You must deposit $10 to open this account.  You must maintain a minimum daily balance of $0.01 in the account each day to obtain the disclosed annual percentage yield.  You will earn interest for every day during the period that your account equals or exceeds the minimum daily balance requirement.  If you do not qualify for the Rewards interest rate and annual percentage yield because you fail to meet the minimum Rewards requirements during the qualification period, you will not receive a refund of any foreign ATM fees charged to your account.

PROCESSING ORDER - Our policy is to process ATM withdrawals, Online Banking transfers.  Withdrawals and Over the Counter Checks processed at our branches and PIN based Debit and Signature Based Debit Card transactions on the day they are received.  We process ACH debits in the early morning of the business day they are received, and in additional batches throughout the day.  We process Online Banking Bill Payments in batches throughout the day on the business day they are received.  We process checks in numerical order (by check number) on the day they are received.  The processing order of these items is important because if there ls not enough money in the account to pay for the items in the order they are processed in accordance with the processing order, there may be an overdraft on your account which may result in overdraft or non-sufficient funds fees or an increase in the amount of these fees.

BALANCE COMPUTATION METHOD - We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL ON NONCASH DEPOSITS - Interest begins to accrue on the calendar day you deposit non-cash items (for example, checks).

TRANSACTION LIMITATIONS - No transaction limitations apply to this account.

FEES AND CHARGES - Please refer to the separate fee schedule provided to you with this disclosure for information about fees and charges associated with this account.  A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.  The bank does not charge a monthly service charge, maintenance fee or activity fee on the Rewards Checking Account.  Fees for other bank services may apply.  Please refer to our separate Fee Schedule for information about fees and charges

FOREIGN (NON-FLORENCE BANK) ATM FEE REFUNDS - Providing you qualify for the Rewards interest rate and annual percentage yield by meeting or exceeding the minimum Rewards requirements during the qualification period, you will automatically receive a refund of all foreign ATM fees charged nationwide to your account.   If you do not qualify for the Rewards interest rate and annual percentage yield because you fail to meet the minimum Rewards requirements during the qualification period, you will not receive a refund of any foreign ATM fees charged to your account.

OTHER FEES – The bank does not charge a monthly service charge, maintenance fee or activity fee on the Rewards Checking Account. Fees for other bank services may apply. Please refer to our separate Fee Schedule for information about fees and charges.

18/65 LAW - If you are 18 years of age or younger, or 65 years of age or older, you will not be eligible for a reduction or a waiver of other bank service fees charged in connection with the Rewards Checking Account.

© 2007-2020 Compliance Systems, LLC 99df901a-d0494dc2 – 2020.340.0.7 Truth In Savings DD8106

 

CASHBACK CHECKING

ELIGIBILITY REQUIREMENTS - If you have met the requirements detailed below, during the monthly statement cycle, you will receive 2.00% cash back, up to an aggregate amount of $10.00 per cycle, on everyday debit card purchases that post to your account during the statement cycle.  The Cashback Reward will be credited to your account on the last day of the statement cycle.

In addition, if you meet the requirements detailed below, you will automatically receive a refund of foreign (Non-Florence Bank) ATM fees charged nationwide to your account on the last day of your statement cycle.

  • Debit Cards: Make at least 12 debit card purchase transactions (not including ATM transactions) that post to your account during the monthly statement cycle. Debit card transactions processed by merchants and received by the bank as ATM transactions do not count towards qualifying debit card transactions.  Only debit card transactions processed by merchants and received by the bank as point of sale (POS) transactions count towards qualifying debit card transactions.
  • Electronic Statements: Be enrolled and receive your monthly account statement electronically.

To obtain electronic statements you must register for Online Banking at florencebank.com and provide the bank with your consent to receive electronic statements.  The consent form will provide you with the terms and conditions for this service. 

You must view your statement to complete the electronic statement signup process.

  • Deposit: One deposit of any type must post to your account during the monthly statement cycle.

Please note that transactions MUST post to your account during the monthly statement cycle.  They may not be in a pending state to count as one of the qualification requirements.  Transactions may take one or more banking days from the date the transaction is made to post to an account.  If you do not qualify because you did not meet the requirements during the statement cycle, you will not receive a Cashback Reward or refunds of any foreign ATM fees charged to your account.

MONTHLY STATEMENT CYCLE - The period beginning on the first day of the current statement cycle through the close of the current statement cycle. 

STATEMENT CYCLE CUTOFF DATE - Your statement cycle cutoff day is the last calendar day of the month.  If the last calendar day of the month falls on a Saturday, a Sunday or a federal holiday, your statement cycle cutoff day will be the last business day before the last calendar day of the month.

MINIMUM BALANCE REQUIREMENTS - You must deposit S10.00 to open this account.

PROCESSING ORDER - Our policy is to process ATM withdrawals.  Online Banking transfers, Withdrawals and Over the Counter Checks processed at our Branches, and PIN Based Debit and Signature Based Debit Card transactions, on the day they are received.  We process ACH Debits in the early morning of the business day they are received and in additional batches throughout the day.  We process Online Banking Bill Payments in batches throughout the day on the business day they are received.  We process checks in numerical order (by check number) on the day they are received.  The processing order of these items is important because if there is not enough money in the account to pay for the items in the order they are processed in accordance with the processing order, there may be an overdraft on your account which may result in overdraft or non-sufficient funds fees or an increase in the amount of these fees.

TRANSACTION LIMITATIONS - No transaction limitations apply to this account.   

CHECKING ACCOUNT WITH SUBACCOUNTS - This provision only applies to Checking and Negotiable Order of Withdrawal ("NOW") accounts.  Your account consists of two subaccounts; a checking subaccount and a savings subaccount.  The checking subaccount is your transaction account.   If the amount of money in your checking subaccount exceeds a certain threshold amount, we will transfer the amount above the threshold amount into your savings subaccount.  We will make the transfer at the beginning of each monthly statement period.  We determine the threshold amount in our sole discretion.  If on any day the daily beginning balance in your checking subaccount is less than the total of the new debits (such as checks and other withdrawals), then money will be automatically transferred from your savings subaccount back to your checking subaccount.  The amount transferred back to the checking subaccount will be the total of the debits minus the daily beginning balance, but will not exceed the amount of money in the savings subaccount.  If six transfers from the savings subaccount to the checking subaccount occur during any statement period, then the entire balance of the savings subaccount will be transferred to your checking subaccount for the remainder of that statement period.

FEES AND CHARGES - Please refer to the separate fee schedule provided to you with this disclosure for information about fees and charges associated with this account.  A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.   The bank does not charge a monthly service charge, maintenance fee or activity fee on the Cashback Checking Account.  Fees for other bank services may apply.  Please refer to our separate Fee Schedule for information about fees and charges.   ATM fee rebates may be taxable.  A 1099 MISC will be issued to taxpayers if the threshold of $600.00 is exceeded.

© 2007-2017 Compliance Systems.  Inc el555c5c-2a58bd9d- 2017.36.0.2 Truth In Savings –DD8106

 

EZ $AVE

ELIGIBILITY REQUIREMENTS - A personal checking account is required to open an EZ $ave Account.

RATE INFORMATION - The interest rate on your account is 0.05% with an annual percentage yield of 0.05%.  Your interest rate and annual percentage yield may change.

DETERMINATION OF RATE - At our discretion, we may change the interest rate on your account.

FREQUENCY OF RATE CHANGES - We may change the interest rate on your account at any time.

LIMITATIONS ON RATE CHANGES - There are no maximum or minimum interest rate limits for this account.

COMPOUNDING AND CREDITING - Interest will be compounded every month and will be credited to the account every month.  If you close your account before interest is credited, you will not receive the accrued interest.

MINIMUM BALANCE REQUIREMENTS - You must deposit $10.00 to open this account.   You must maintain a minimum daily balance of $10.00 in the account each day to obtain the disclosed annual percentage yield.  You will earn interest for every day during the period that your account equals or exceeds the minimum daily balance requirement.

BALANCE COMPUTATION METHOD - We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL ON NONCASH DEPOSITS - Interest begins to accrue on the calendar day you deposit noncash items (for example, checks).

FEES AND CHARGES - Please refer to the separate fee schedule provided to you with this disclosure for information about fees and charges associated with this account.  A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.

© 2007-2020 Compliance Systems, LLC 99df901a-1bf12869 – 2020.340.0.7 Truth In Savings -DD8106


STATEMENT SAVINGS

RATE INFORMATION - The interest rate on your account is 0.05% with an annual percentage yield of 0.05%.  Your interest rate and annual percentage yield may change.

DETERMINATION OF RATE - At our discretion, we may change the interest rate on your account.

FREQUENCY OF RATE CHANGES - We may change the interest rate on your account at any time.

LIMITATIONS ON RATE CHANGES - There are no maximum or minimum interest rate limits for this account.

COMPOUNDING AND CREDITING - Interest will compound every month and will be credited to the account every month.  If you close your account before interest is credited, you will not receive the accrued interest.

MINIMUM BALANCE REQUIREMENTS - You must maintain a minimum daily balance of $10.00 in the account each day to obtain the disclosed annual percentage yield.  You will earn interest for every day during the period that your account equals or exceeds the minimum daily balance requirement. You must maintain a minimum daily balance of $200 in the account each day to avoid the monthly service charge.

BALANCE COMPUTATION METHOD - We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL ON NONCASH DEPOSITS - Interest begins to accrue on the calendar day you deposit noncash items (for example, checks).

FEES AND CHARGES -  A monthly service charge of $2 will be imposed every statement cycle if the balance in the account falls below the minimum required in any day of the cycle.  Please refer to the separate fee schedule provided to you with this disclosure for information about additional fees and charges associated with this account.  A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.  

©2007-2020 Compliance Systems, LLC. 99df901a-5cbfde9b - 2020.340.0.7 Truth In Savings DD8106


MONEY MARKET ACCOUNT

RATE INFORMATION - The interest rate listed in each tier will be paid on the entire balance in your account.

Tier

Daily Balance Range

Interest Rate

Annual Percentage Yield (APY)

1

 Equal to or greater than $10.00 but less than $1,000.00

0.05%

0.05%

2

 Equal to or greater than $1,000.00

0.15%

0.15%

Your interest rate and annual percentage yield may change.

DETERMINATION OF RATE - At our discretion, we may change the interest rate on your account.

FREQUENCY OF RATE CHANGES - We may change the interest rate on your account at any time.

LIMITATIONS ON RATE CHANGES - There are no maximum or minimum interest rate limits for this account.

COMPOUNDING AND CREDITING - Interest will compound every month and will be credited to the account monthly.  If you close your account before interest is credited, you will not receive the accrued interest.  

MINIMUM BALANCE REQUIREMENTS -   You must deposit $1,000.00 to open this account. You must maintain a minimum daily balance of $10.00 in the account each day to obtain the disclosed annual percentage yield.  You will earn interest for every day during the period that your account equals or exceeds the minimum daily balance requirement.  You must maintain a minimum daily balance of $1,000 in the account each day to avoid the monthly service charge.

BALANCE COMPUTATION METHOD - We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL ON NONCASH DEPOSITS - Interest begins to accrue on the calendar day you deposit noncash items (for example, checks).

FEES AND CHARGES - A monthly service charge of $5 will be imposed every statement cycle if the balance in the account falls below the minimum required in any day of the cycle. Please refer to the separate fee schedule provided to you with this disclosure for information about additional fees and charges associated with this account. A fee schedule will be provided to you at the time you open an account. periodically when fees or charges change, and upon request.

© 2007-2020 Compliance Systems, LLC. 99df901a-27620171 – 2020.340.0.7 Truth In Savings-DD8106

 

PERFORMANCE MONEY MARKET ACCOUNT

ELIGIBILITY REQUIREMENTS - A personal checking account is required to open the Performance Money Market account. 

RATE INFORMATION - The interest rate listed in each tier will be paid on the entire balance in your account.

Tier

Daily Balance Range

Interest Rate

Annual Percentage Yield (APY)

1

 Equal to or greater than $10.00

but less than $10,000.00

0.05%

0.05%

2

 Equal to or greater than $10,000.00

but less than $25,000.00

0.15%

0.15%

3

 Equal to or greater than $25,000.00

but less than $50,000.00

0.20%

0.20%

4

 Equal to or greater than $50,000.00

but less than $100,000.00

0.30%

0.30%

5

 Equal to or greater than $100,000.00

0.40%

0.40%

Your interest rate and annual percentage yield may change.

DETERMINATION OF RATE - At our discretion, we may change the interest rate on your account.

FREQUENCY OF RATE CHANGES - We may change the interest rate on your account at any time.

LIMITATIONS ON RATE CHANGES - There are no maximum or minimum interest rate limits for this account.

COMPOUNDING AND CREDITING - Interest will compound every month and will be credited to the account every month.  If you close your account before interest is credited, you will not receive the accrued interest.

MINIMUM BALANCE REQUIREMENTS - You must deposit $1,000.00 to open this account.  You must maintain a minimum daily balance of $10.00 in the account each day to obtain the disclosed annual percentage yield.  You will earn interest for every day during the period that your account equals or exceeds the minimum daily balance requirement.

BALANCE COMPUTATION METHOD - We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL ON NONCASH DEPOSITS - Interest begins to accrue on the calendar day you deposit noncash items (for example, checks).

FEES AND CHARGES - Please refer to the separate fee schedule provided to you with this disclosure for information about fees and charges associated with this account.  A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.

© 2007-2020 Compliance Systems, LLC 99df901a-d13bffb0 – 2020.340.0.7 Truth In Savings -DD8106


3 MONTH CERTIFICATE OF DEPOSIT

RATE INFORMATION - The interest rate on your account is 1.00% with an annual percentage yield of 1.00%.  You will be paid this interest rate until maturity.

COMPOUNDING AND CREDITING - Interest will be compounded monthly and will be paid to the account monthly.  The annual percentage yield assumes interest will remain on deposit until maturity.  A withdrawal will reduce earnings.  If interest is credited to another account or paid to you by check, this may reduce earnings and may negate the effect of interest compounding.

MINIMUM BALANCE REQUIREMENTS - You must deposit $500.00 to open this account.  You must maintain a minimum daily balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.  A maximum of $1,000,000.00 is allowed per account.

BALANCE COMPUTATION METHOD - We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL ON NONCASH DEPOSITS - Interest begins to accrue on the business day you deposit noncash items (for example, checks). 

TRANSACTION LIMITATIONS - You may not make deposits into or withdrawals from your account until the maturity date.

MATURITY DATE - Your account will mature 3 months from the date the account is opened.                

EARLY WITHDRAWAL PROVISIONS - We may impose a penalty if you withdraw any or all of the principal before the maturity date.  The fee imposed will equal 91 days of interest.  In certain circumstances, such as death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.  Other exceptions may apply, for example, if this is part of an IRA or other tax-deferred savings plan.

RENEWAL POLICIES - Your account will automatically renew at maturity.  You will have a grace period of 10 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.   Each renewal term will be the same as the original term beginning on the maturity date.  The interest rate will be the same we offer on new Certificate of Deposit on the maturity date which have the same term, minimum balance (if any) and other features of the original Certificate of Deposit.

FEES AND CHARGES - Please refer to the separate fee schedule provided to you with this disclosure for information about fees and charges associated with this account.  A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.

© 2007-2020 Compliance Systems, LLC  99df901a-31453ba1 - 2020.340.0.7 Truth In Savings –DD8106

6 MONTH CERTIFICATE OF DEPOSIT

RATE INFORMATION - The interest rate on your account is 1.49% with an annual percentage yield of 1.50%.  You will be paid this interest rate until maturity.

COMPOUNDING AND CREDITING - Interest will be compounded monthly and will be paid to the account monthly.  The annual percentage yield assumes interest will remain on deposit until maturity.  A withdrawal will reduce earnings.  If interest is credited to another account or paid to you by check, this may reduce earnings and may negate the effect of interest compounding.

MINIMUM BALANCE REQUIREMENTS - You must deposit $500.00 to open this account.  You must maintain a minimum daily balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.  A maximum of $1,000,000.00 is allowed per account.

BALANCE COMPUTATION METHOD - We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL ON NONCASH DEPOSITS - Interest begins to accrue on the business day you deposit noncash items (for example, checks). 

TRANSACTION LIMITATIONS - You may not make deposits into or withdrawals from your account until the maturity date.

MATURITY DATE - Your account will mature 3 months from the date the account is opened.                

EARLY WITHDRAWAL PROVISIONS - We may impose a penalty if you withdraw any or all of the principal before the maturity date.  The fee imposed will equal 91 days of interest.  In certain circumstances, such as death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.  Other exceptions may apply, for example, if this is part of an IRA or other tax-deferred savings plan.

RENEWAL POLICIES - Your account will automatically renew at maturity.  You will have a grace period of 10 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.   Each renewal term will be the same as the original term beginning on the maturity date.  The interest rate will be the same we offer on new Certificate of Deposit on the maturity date which have the same term, minimum balance (if any) and other features of the original Certificate of Deposit.

FEES AND CHARGES - Please refer to the separate fee schedule provided to you with this disclosure for information about fees and charges associated with this account.  A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.

© 2007-2020 Compliance Systems, LLC  99df901a-31453ba1 - 2020.340.0.7 Truth In Savings –DD8106

7 MONTH CERTIFICATE OF DEPOSIT

RATE INFORMATION - The interest rate on your account is 3.78% with an annual percentage yield of 3.85%.  You will be paid this interest rate until maturity.

COMPOUNDING AND CREDITING - Interest will be compounded monthly and will be paid to the account monthly.  The annual percentage yield assumes interest will remain on deposit until maturity.  A withdrawal will reduce earnings.  If interest is credited to another account or paid to you by check, this may reduce earnings and may negate the effect of interest compounding.

MINIMUM BALANCE REQUIREMENTS - You must deposit $500.00 to open this account.  You must maintain a minimum daily balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.  A maximum of $1,000,000.00 is allowed per account.

BALANCE COMPUTATION METHOD - We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL ON NONCASH DEPOSITS - Interest begins to accrue on the business day you deposit noncash items (for example, checks). 

TRANSACTION LIMITATIONS - You may not make deposits into or withdrawals from your account until the maturity date.

MATURITY DATE - Your account will mature 7 months from the date the account is opened.                

EARLY WITHDRAWAL PROVISIONS - We may impose a penalty if you withdraw any or all of the principal before the maturity date.  The fee imposed will equal 91 days of interest.  In certain circumstances, such as death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.  Other exceptions may apply, for example, if this is part of an IRA or other tax-deferred savings plan.

RENEWAL POLICIES - Your account will automatically renew at maturity.  You will have a grace period of 10 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.   The renewal term is for 6 months beginning on the maturity date. The interest rate will be the same we offer on new time deposits on the maturity date which have the same term.

FEES AND CHARGES - Please refer to the separate fee schedule provided to you with this disclosure for information about fees and charges associated with this account.  A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.

 

© 2007-2020 Compliance Systems, LLC  99df901a-31453ba1 - 2020.340.0.7 Truth In Savings –DD8106


7 MONTH EASY-OUT CERTIFICATE OF DEPOSIT

RATE INFORMATION. The interest rate on your account is 3.93% with an annual percentage yield of 4.00%.

You will be paid this interest rate until maturity.

COMPOUNDING AND CREDITING. Interest will compound monthly and will be credited to the account monthly. The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. If interest is credited to another account or paid to you by check, this may reduce earnings and may negate the effect of interest compounding. If you close your account before interest is credited, you will receive the accrued interest.

MINIMUM BALANCE REQUIREMENTS. You must deposit $5,000.00 to open this account.

You must maintain a minimum daily balance of $500.00 in the account each day to obtain the disclosed annual percentage yield. You will earn interest for every day during the period that your account equals or exceeds the minimum daily balance requirement. A maximum balance of $1,000,000 is allowed per account.

BALANCE COMPUTATION METHOD. We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL ON NONCASH DEPOSITS. Interest begins to accrue on the business day you deposit noncash items (for example, checks).

TRANSACTION LIMITATIONS. You may not make deposits into your account until the maturity date. After the first six days of the account term you can make a withdrawal of the principal balance, and we will waive the penalty. Providing you maintain the minimum balance of $500.00 you can make partial withdrawals of principal during the term of the CD. Six days following each partial withdrawal, you can make an additional withdrawal and we will waive the penalty. We reserve the right to require at least seven days prior written notice of your intended withdrawal.

MATURITY DATE. Your account will mature 7 months from the date the account is opened.

EARLY WITHDRAWAL PROVISIONS. We may impose a penalty if you withdraw any or all of the principal before the maturity date. The fee imposed will equal 91 days of interest. In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.

RENEWAL POLICIES. Your account will automatically renew at maturity. You will have a grace period of 10 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty. 

ADDITIONAL INFORMATION REGARDING YOUR ACCOUNT. Each renewal term will be the same as the original term beginning on the maturity date. The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features as the original time deposit. The renewal term is for 6 months beginning on the maturity date.  The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features of the original Certificate of Deposit.

©2007-2020 Compliance Systems, LLC 99df901a-131d5346 – 2020.340.0.7 Truth In Savings DD8106



12 MONTH CERTIFICATE OF DEPOSIT

RATE INFORMATION - The interest rate on your account is 0.20% with an annual percentage yield of 0.20%.  You will be paid this interest rate until maturity.

COMPOUNDING AND CREDITING - Interest will be compounded monthly and will be paid to the account monthly.  The annual percentage yield assumes interest will remain on deposit until maturity.  A withdrawal will reduce earnings.  If interest is credited to another account or paid to you by check, this may reduce earnings and may negate the effect of interest compounding.

MINIMUM BALANCE REQUIREMENTS - You must deposit $500.00 to open this account.  You must maintain a minimum daily balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.  A maximum of $1,000,000.00 is allowed per account.

BALANCE COMPUTATION METHOD - We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL ON NONCASH DEPOSITS - Interest begins to accrue on the business day you deposit noncash items (for example, checks). 

TRANSACTION LIMITATIONS - You may not make deposits into or withdrawals from your account until the maturity date.

MATURITY DATE - Your account will mature 12 months from the date th account is opened.                

EARLY WITHDRAWAL PROVISIONS - We may impose a penalty if you withdraw any or all of the principal before the maturity date.  The fee imposed will equal 182 days of interest.  In certain circumstances, such as death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.  Other exceptions may apply, for example, if this is part of an IRA or other tax-deferred savings plan.

RENEWAL POLICIES - Your account will automatically renew at maturity.  You will have a grace period of 10 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.   Each renewal term will be the same as the original term beginning on the maturity date.  The interest rate will be the same we offer on new Certificate of Deposit on the maturity date which have the same term, minimum balance (if any) and other features of the original Certificate of Deposit.

FEES AND CHARGES - Please refer to the separate fee schedule provided to you with this disclosure for information about fees and charges associated with this account.  A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.

© 2007-2020 Compliance Systems, LLC 99df901a-f254b16a – 2020.340.0.7 Truth In Savings –DD8106

14 MONTH CERTIFICATE OF DEPOSIT

RATE INFORMATION - The interest rate on your account is 4.31% with an annual percentage yield of 4.40%.  You will be paid this interest rate until maturity.

COMPOUNDING AND CREDITING - Interest will be compounded monthly and will be paid to the account monthly.  The annual percentage yield assumes interest will remain on deposit until maturity.  A withdrawal will reduce earnings.  If interest is credited to another account or paid to you by check, this may reduce earnings and may negate the effect of interest compounding.

MINIMUM BALANCE REQUIREMENTS - You must deposit $500.00 to open this account.  You must maintain a minimum daily balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.  A maximum of $1,000,000.00 is allowed per account.

BALANCE COMPUTATION METHOD - We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL ON NONCASH DEPOSITS - Interest begins to accrue on the business day you deposit noncash items (for example, checks). 

TRANSACTION LIMITATIONS - You may not make deposits into or withdrawals from your account until the maturity date.

MATURITY DATE - Your account will mature 14 months from the date the account is opened.                

EARLY WITHDRAWAL PROVISIONS - We may impose a penalty if you withdraw any or all of the principal before the maturity date.  The fee imposed will equal 182 days of interest.  In certain circumstances, such as death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.  Other exceptions may apply, for example, if this is part of an IRA or other tax-deferred savings plan.

RENEWAL POLICIES - Your account will automatically renew at maturity.  You will have a grace period of 10 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.   The renewal term is for 12 months beginning on the maturity date.  The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features of the original Certificate of Deposit.

FEES AND CHARGES - Please refer to the separate fee schedule provided to you with this disclosure for information about fees and charges associated with this account.  A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.

© 2007-2020 Compliance Systems, LLC 99df901a-f254b16a – 2020.340.0.7 Truth In Savings –DD8106


17 MONTH EASY-OUT CERTIFICATE OF DEPOSIT

RATE INFORMATION - The interest rate on your account is 0.15% with an annual percentage yield of 0.15%.   

You will be paid this interest rate until maturity.

COMPOUNDING AND CREDITING - Interest will compound monthly and will be credited to the account monthly.  The annual percentage yield assumes interest will remain on deposit until maturity.  A withdrawal will reduce earnings.  If interest is credited to another account or paid to you by check, this may reduce earnings and may negate the effect of interest compounding. If you close your account before interest is credited, you will receive the accrued interest.

MINIMUM BALANCE REQUIREMENTS - You must deposit $5,000.00 to open this account.  You must maintain a minimum daily balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.  You will earn interest for every day during the period that your account equals or exceeds the minimum daily balance requirement.  A maximum balance of $1,000,000.00 is allowed per account.

BALANCE COMPUTATION METHOD - We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL ON NONCASH DEPOSITS - Interest begins to accrue on the business day you deposit noncash items (for example, checks).

TRANSACTION LIMITATIONS - You may not make deposits into your account until the maturity date.  After the first six days of the account term you can make a withdrawal of the principal balance, and we will waive the penalty.  Providing you maintain the minimum balance of $500.00 you can make partial withdrawals of principal during the term of the CD. Six days following each partial withdrawal, you can make an additional withdrawal and we will waive the penalty. We reserve the right to require at least seven days prior written notice of your intended withdrawal.

MATURITY DATE - Your account will mature 17 months from the date the account is opened.

EARLY WITHDRAWAL PROVISIONS - We may impose a penalty if you withdraw any or all of the principal before the maturity date.  The fee imposed will equal seven (7) days of interest.  In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.

RENEWAL POLICIES - Your account will automatically renew at maturity.  You will have a grace period of 10 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.  

ADDITIONAL INFORMATION REGARDING YOUR ACCOUNT - Each renewal term will be the same as the original term beginning on the maturity date.  The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features as the original time deposit.

FEES AND CHARGES - Please refer to the separate fee schedule provided to you with this disclosure for information about fees and charges associated with this account.  A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.

©2007-2020 Compliance Systems, LLC 99df901a-131d5346 – 2020.340.0.7 Truth In Savings DD8106

18 MONTH CERTIFICATE OF DEPOSIT

RATE INFORMATION - The interest rate on your account is 0.20% with an annual percentage yield of 0.20%.  You will be paid this interest rate until maturity.

COMPOUNDING AND CREDITING - Interest will be compounded monthly and will be paid to the account monthly.  The annual percentage yield assumes interest will remain on deposit until maturity.  A withdrawal will reduce earnings.  If interest is credited to another account or paid to you by check, this may reduce earnings and may negate the effect of interest compounding.

MINIMUM BALANCE REQUIREMENTS - You must deposit $500.00 to open this account.  You must maintain a minimum daily balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.  A maximum of $1,000,000.00 is allowed per account.

BALANCE COMPUTATION METHOD - We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL ON NONCASH DEPOSITS - Interest begins to accrue one business day you deposit noncash items (for example, checks). 

TRANSACTION LIMITATIONS - You may not make deposits into or withdrawals from your account until the maturity date.

MATURITY DATE - Your account will mature 18 months from the date the account is opened.                 

EARLY WITHDRAWAL PROVISIONS - We may impose a penalty if you withdraw any or all of the principal before the maturity date.  The fee imposed will equal 182 days of interest.  In certain circumstances, such as death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.  Other exceptions may apply, for example, if this is part of an IRA or other tax-deferred savings plan.

RENEWAL POLICIES - Your account will automatically renew at maturity.  You will have a grace period of 10 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.   Each renewal term will be the same as the original term beginning on the maturity date.  The interest rate will be the same we offer on new Certificate of Deposit on the maturity date which have the same term, minimum balance (if any) and other features of the original Certificate of Deposit.

FEES AND CHARGES - Please refer to the separate fee schedule provided to you with this disclosure for information about fees and charges associated with this account.  A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.

© 2007-2017 Compliance Systems, Inc.  e1555c5c-31453ba1 - 2017.36.0.2 Truth In Savings –DD8106


24 MONTH CERTIFICATE OF DEPOSIT

RATE INFORMATION - The interest rate on your account is 0.30% with an annual percentage yield of 0.30%.  You will be paid this interest rate until maturity.

COMPOUNDING AND CREDITING - Interest will be compounded monthly and will be paid to the account monthly.  The annual percentage yield assumes interest will remain on deposit until maturity.  A withdrawal will reduce earnings.  If interest is credited to another account or paid to you by check, this may reduce earnings and may negate the effect of interest compounding.

MINIMUM BALANCE REQUIREMENTS - You must deposit $500.00 to open this account.  You must maintain a minimum daily balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.  A maximum of $1,000,000.00 is allowed per account.

BALANCE COMPUTATION METHOD - We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL ON NONCASH DEPOSITS - Interest begins to accrue on the business day you deposit noncash items (for example, checks). 

TRANSACTION LIMITATIONS - You may not make deposits into or withdrawals from your account until the maturity date.

MATURITY DATE - Your account will mature 24 months from the date the account is opened.                

EARLY WITHDRAWAL PROVISIONS - We may impose a penalty if you withdraw any or all of the principal before the maturity date.  The fee imposed will equal 182 days of interest.  In certain circumstances, such as death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.  Other exceptions may apply, for example, if this is part of an IRA or other tax-deferred savings plan.

RENEWAL POLICIES - Your account will automatically renew at maturity.  You will have a grace period of 10 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.   Each renewal term will be the same as the original term beginning on the maturity date.  The interest rate will be the same we offer on new Certificate of Deposit on the maturity date which have the same term, minimum balance (if any) and other features of the original Certificate of Deposit.

FEES AND CHARGES - Please refer to the separate fee schedule provided to you with this disclosure for information about fees and charges associated with this account.  A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.

© 2007-2017 Compliance Systems, Inc.  e1555c5c-31453ba1 - 2017.36.0.2 Truth In Savings –DD8106

25 MONTH CERTIFICATE OF DEPOSIT

RATE INFORMATION - The interest rate on your account is 3.20% with an annual percentage yield of 3.25%.  You will be paid this interest rate until maturity.

COMPOUNDING AND CREDITING - Interest will be compounded monthly and will be paid to the account monthly.  The annual percentage yield assumes interest will remain on deposit until maturity.  A withdrawal will reduce earnings.  If interest is credited to another account or paid to you by check, this may reduce earnings and may negate the effect of interest compounding.
 
MINIMUM BALANCE REQUIREMENTS - You must deposit $500.00 to open this account.  You must maintain a minimum daily balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.  A maximum of $1,000,000.00 is allowed per account.

BALANCE COMPUTATION METHOD - We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL ON NONCASH DEPOSITS - Interest begins to accrue on the business day you deposit noncash items (for example, checks). 

TRANSACTION LIMITATIONS - You may not make deposits into or withdrawals from your account until the maturity date.
 
MATURITY DATE - Your account will mature 24 months from the date the account is opened.                

EARLY WITHDRAWAL PROVISIONS - We may impose a penalty if you withdraw any or all of the principal before the maturity date.  The fee imposed will equal 365 days of interest.  In certain circumstances, such as death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.  Other exceptions may apply, for example, if this is part of an IRA or other tax-deferred savings plan.

RENEWAL POLICIES - Your account will automatically renew at maturity.  You will have a grace period of 10 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.   The renewal term is for 24 months beginning on the maturity date.  The interest rate will be the same we offer on new Certificate of Deposit on the maturity date which have the same term, minimum balance (if any) and other features of the original Certificate of Deposit.

FEES AND CHARGES - Please refer to the separate fee schedule provided to you with this disclosure for information about fees and charges associated with this account.  A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.

© 2007-2017 Compliance Systems, Inc.  e1555c5c-31453ba1 - 2017.36.0.2 Truth In Savings –DD8106
30 MONTH CERTIFICATE OF DEPOSIT


30 MONTH CERTIFICATE OF DEPOSIT

RATE INFORMATION - The interest rate on your account is 0.35% with an annual percentage yield of 0.35%.  You will be paid this interest rate until maturity.

COMPOUNDING AND CREDITING - Interest will be compounded monthly and will be paid to the account monthly.  The annual percentage yield assumes interest will remain on deposit until maturity.  A withdrawal will reduce earnings.  If interest is credited to another account or paid to you by check, this may reduce earnings and may negate the effect of interest compounding.

MINIMUM BALANCE REQUIREMENTS - You must deposit $500.00 to open this account.  You must maintain a minimum daily balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.  A maximum of $1,000,000.00 is allowed per account.

BALANCE COMPUTATION METHOD - We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL ON NONCASH DEPOSITS - Interest begins to accrue on the business day you deposit noncash items (for example, checks). 

TRANSACTION LIMITATIONS - You may not make deposits into or withdrawals from your account until the maturity date.

MATURITY DATE - Your account will mature 30 months from the date the account is opened.                

EARLY WITHDRAWAL PROVISIONS - We may impose a penalty if you withdraw any or all of the principal before the maturity date.  The fee imposed will equal 182 days of interest.  In certain circumstances, such as death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.  Other exceptions may apply, for example, if this is part of an IRA or other tax-deferred savings plan.

RENEWAL POLICIES - Your account will automatically renew at maturity.  You will have a grace period of 10 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.   Each renewal term will be the same as the original term beginning on the maturity date.  The interest rate will be the same we offer on new Certificate of Deposit on the maturity date which have the same term, minimum balance (if any) and other features of the original Certificate of Deposit.

FEES AND CHARGES - Please refer to the separate fee schedule provided to you with this disclosure for information about fees and charges associated with this account.  A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.

© 2007-2017 Compliance Systems, Inc.  e1555c5c-31453ba1 - 2017.36.0.2 Truth In Savings –DD8106

36 Month CD

RATE INFORMATION - The interest rate on your account is 0.40% with an annual percentage yield of 0.40%.
You will be paid this interest rate until maturity.

COMPOUNDING AND CREDITING - Interest will be compounded monthly and will be paid to the account monthly. The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. If interest is credited to another account or paid to you by check, this may reduce earnings and may negate the effect of interest compounding.

MINIMUM BALANCE REQUIREMENTS - You must deposit $500.00 to open this account.
You must maintain a minimum daily balance of $500.00 in the account each day to obtain the disclosed annual percentage yield. You will earn interest for every day during the period that your account equals or exceeds the minimum daily balance requirement. A maximum of $1,000,000.00 is allowed per account.

BALANCE COMPUTATION METHOD - We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL ON NONCASH DEPOSITS - Interest begins to accrue on the business day you deposit noncash items (for example, checks).

TRANSACTION LIMITATIONS - You may not make deposits into or withdrawals from your account until the maturity date.

MATURITY DATE - Your account will mature 36 months from the date the account is opened.

EARLY WITHDRAWAL PROVISIONS - We may impose a penalty if you withdraw any or all of the principal before the maturity date. The fee imposed will equal 182 days of interest. In certain circumstances, such as death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. Other exceptions may apply, for example, if this is part of an IRA or other tax-deferred savings plan.

RENEWAL POLICIES - Your account will automatically renew at maturity. You will have a grace period of 10 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.
Each renewal term will be the same as the original term, beginning on the maturity date. The interest rate will be the same we offer on new tune deposits on the maturity date which have the same term, minimum balance (if any) and other features of the original time deposit.

FEES AND CHARGES - Please refer to the separate fee schedule provided to you with this disclosure for information about fees and charges associated with this account. A fee schedule will be provided to you at the tune you open an account, periodically when fees or charges change, and upon request.

©2007-2020 Compliance Systems, LLC 99df901a-f254b16a-2020.340.0.7 Truth In Savings-DD8016

48 MONTH CD

RATE INFORMATION - The interest rate on your account is 0.75% with an annual percentage yield of 0.75%.   You will be paid this interest rate until maturity.

COMPOUNDING AND CREDITING - Interest will be compounded monthly and will be paid to the account monthly.  The annual percentage yield assumes interest will remain on deposit until maturity.  A withdrawal will reduce earnings.  If interest is credited to another account or paid to you by check, this may reduce earnings and may negate the effect of interest compounding.

MINIMUM BALANCE REQUIREMENTS - You must deposit $500.00 to open this account.  You must maintain a minimum daily balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.  You will earn interest for every day during the period that your account equals or exceeds the minimum daily balance requirement.  A maximum of $1,000,000.00 is allowed per account.

BALANCE COMPUTATION METHOD - We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL ON NONCASH DEPOSITS - Interest begins to accrue on the business day you deposit noncash items (for example, checks). 

TRANSACTION LIMITATIONS - You may not make deposits into or withdrawals from your account until the maturity date.

MATURITY DATE - Your account will mature 48 months from the date account is opened.

EARLY WITHDRAWAL PROVISIONS - We may impose a penalty if you withdraw any or all of the principal before the maturity date.  The fee imposed will equal 182 days of interest.  In certain circumstances, such as death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.  Other exceptions may apply, for example, if this is part of an IRA or other tax-deferred savings plan.

RENEWAL POLICIES - Your account will automatically renew at maturity.  You will have a grace period of 10 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.   Each renewal term will be the same as the original term, beginning on the maturity date.  The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features of the original time deposit.

FEES AND CHARGES - Please refer to the separate fee schedule provided to you with this disclosure for information about fees and charges associated with this account.  A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.

©2007-2020 Compliance Systems, LLC 99df901a-f254b16a-2020.340.0.7 Truth In Savings-DD8016


60 MONTH CD

RATE INFORMATION - The interest rate on your account is 1.00% with an annual percentage yield of 1.00%.   You will be paid this interest rate until maturity.

COMPOUNDING AND CREDITING - Interest will be compounded monthly and will be paid to the account monthly.  The annual percentage yield assumes interest will remain on deposit until maturity.  A withdrawal will reduce earnings.  If interest is credited to another account or paid to you by check, this may reduce earnings and may negate the effect of interest compounding.

MINIMUM BALANCE REQUIREMENTS - You must deposit $500.00 to open this account.  You must maintain a minimum daily balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.  You will earn interest for every day during the period that your account equals or exceeds the minimum daily balance requirement.  A maximum of $1,000,000.00 is allowed per account.

BALANCE COMPUTATION METHOD - We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL ON NONCASH DEPOSITS - Interest begins to accrue on the business day you deposit noncash items (for example, checks). 

TRANSACTION LIMITATIONS - You may not make deposits into or withdrawals from your account until the maturity date.

MATURITY DATE - Your account will mature 60 months from the date the account is opened.

EARLY WITHDRAWAL PROVISIONS - We may impose a penalty if you withdraw any or all of the principal before the maturity date.  The fee imposed will equal 182 days of interest.  In certain circumstances, such as death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.  Other exceptions may apply, for example, if this is part of an IRA or other tax-deferred savings plan.

RENEWAL POLICIES - Your account will automatically renew at maturity.  You will have a grace period of 10 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.   Each renewal term will be the same as the original term, beginning on the maturity date.  The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features of the original time deposit.

FEES AND CHARGES - Please refer to the separate fee schedule provided to you with this disclosure for information about fees and charges associated with this account.  A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.

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Florence Bank, Member FDIC, Member DIF
Revised March 15, 2024