Print

TERMS AND CONDITIONS OF YOUR ACCOUNT

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT - To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

AGREEMENT - This document, along with any other documents we give you pertaining to your account(s), is a contract that establishes rules which control your account(s) with us. Please read this carefully and retain it for future reference. If you sign the signature card or open or continue to use the account, you agree to these rules. You will receive a separate schedule of rates, qualifying balances, and fees if they are not included in this document. If you have any questions, please call us.

This agreement is subject to applicable federal laws, the laws of the state of Massachusetts and other applicable rules such as the operating letters of the Federal Reserve Banks and payment processing system rules (except to the extent that this agreement can and does vary such rules or laws). The body of state and federal law that governs our relationship with you, however, is too large and complex to be reproduced here. The purpose of this document is to:

  1. summarize some laws that apply to common transactions;
  2. establish rules to cover transactions or events which the law does not regulate;
  3. establish rules for certain transactions or events which the law regulates but permits variation by agreement; and
  4. give you disclosures of some of our policies to which you may be entitled or in which you may be interested.

If any provision of this document is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect. We may permit some variations from our standard agreement, but we must agree to any variation in writing either on the signature card for your account or in some other document.

As used in this document the words "we," "our," and "us" mean the financial institution and the words "you" and "your" mean the account holder(s) and anyone else with the authority to deposit, withdraw, or exercise control over the funds in the account. However, this agreement does not intend, and the terms "you" and "your" should not be interpreted, to expand an individual's responsibility for an organization's liability. If this account is owned by a corporation, partnership or other organization, individual liability is determined by the laws generally applicable to that type of organization. The headings in this document are for convenience or reference only and will not govern the interpretation of the provisions. Unless it would be inconsistent to do so, words and phrases used in this document should be construed so the singular includes the plural and the plural includes the singular.

LIABILITY - You agree, for yourself (and the person or entity you represent if you sign as a representative of another) to the terms of this account and the schedule of charges. You authorize us to deduct these charges, without notice to you, directly from the account balance as accrued. You will pay any additional reasonable charges for services you request which are not covered by this agreement.

Each of you also agrees to be jointly and severally (individually) liable for any account shortage resulting from charges or overdrafts, whether caused by you or another with access to this account. This liability is due immediately, and can be deducted directly from the account balance whenever sufficient funds are available. You have no right to defer payment of this liability, and you are liable regardless of whether you signed the item or benefited from the charge or overdraft.

You will be liable for our costs as well as for our reasonable attorneys' fees, to the extent permitted by law, whether incurred as a result of collection or in any other dispute involving your account. This includes, but is not limited to, disputes between you and another joint owner; you and an authorized signer or similar party; or a third party claiming an interest in your account. This also includes any action that you or a third party takes regarding the account that causes us, in good faith, to seek the advice of an attorney, whether or not we become involved in the dispute. All costs and attorneys' fees can be deducted from your account when they are incurred, without notice to you.

DEPOSITS - We will give only provisional credit until collection is final for any items, other than cash, we accept for deposit (including items drawn "on us"). Before settlement of any item becomes final, we act only as your agent, regardless of the form of indorsement or lack of indorsement on the item and even though we provide you provisional credit for the item. We may reverse any provisional credit for items that are lost, stolen, or returned. Actual credit for deposits of, or payable in, foreign currency will be at the exchange rate in effect on final collection in U.S. dollars. We are not responsible for transactions by mail or outside depository until we actually record them. We will treat and record all transactions received after our "daily cutoff time" on a business day we are open, or received on a day we are not open for business, as if initiated on the next business day that we are open. At our option, we may take an item for collection rather than for deposit. If we accept a third-party check for deposit, we may require any third-party indorsers to verify or guarantee their indorsements, or indorse in our presence.

WITHDRAWALS -

Generally - Unless clearly indicated otherwise on the account records, any of you, acting alone, who signs to open the account or has authority to make withdrawals may withdraw or transfer all or any part of the account balance at any time. Each of you (until we receive written notice to the contrary) authorizes each other person who signs or has authority to make withdrawals to indorse any item payable to you or your order for deposit to this account or any other transaction with us.

Postdated checks - A postdated check is one which bears a date later than the date on which the check is written. We may properly pay and charge your account for a postdated check even though payment was made before the date of the check, unless we have received written notice of the postdating in time to have a reasonable opportunity to act. Because we process checks mechanically, your notice will not be effective and we will not be liable for failing to honor your notice unless it precisely identifies the number, date, amount and payee of the item.

Checks and withdrawal rules - If you do not purchase your check blanks from us, you must be certain that we approve the check blanks you purchase. We may refuse any withdrawal or transfer request which you attempt on forms not approved by us or by any method we do not specifically permit. We may refuse any withdrawal or transfer request which is greater in number than the frequency permitted, or which is for an amount greater or less than any withdrawal limitations. We will use the date the transaction is completed by us (as opposed to the date you initiate it) to apply the frequency limitations. In addition, we may place limitations on the account until your identity is verified.

Even if we honor a nonconforming request, we are not required to do so later. If you violate the stated transaction limitations (if any), in our discretion we may close your account or reclassify it as a transaction account. If we reclassify your account, your account will be subject to the fees and earnings rules of the new account classification.

If we are presented with an item drawn against your account that would be a "substitute check," as defined by law, but for an error or defect in the item introduced in the substitute check creation process, you agree that we may pay such item.

See the funds availability policy disclosure for information about when you can withdraw funds you deposit. For those accounts to which our funds availability policy disclosure does not apply, you can ask us when you make a deposit when those funds will be available for withdrawal. We may determine the amount of available funds in your account for the purpose of deciding whether to return an item for insufficient funds at any time between the time we receive the item and when we return the item or send a notice in lieu of return. We need only make one determination, but if we choose to make a subsequent determination, the account balance at the subsequent time will determine whether there are insufficient available funds.

Overdrafts - You understand that we may, at our discretion, honor withdrawal requests that overdraw your account. However, the fact that we may honor withdrawal requests that overdraw the account balance does not obligate us to do so later. So you can NOT rely on us to pay overdrafts on your account regardless of how frequently or under what circumstances we have paid overdrafts on your account in the past. We can change our practice of paying overdrafts on your account without notice to you. You can ask us if we have other account services that might be available to you where we commit to paying overdrafts under certain circumstances, such as an overdraft protection line-of-credit or a plan to sweep funds from another account you have with us. You agree that we may charge fees for overdrafts. For consumer accounts, we will not charge fees for overdrafts caused by ATM withdrawals or one-time debit card transactions if you have not opted-in to that service. We may use subsequent deposits, including direct deposits of social security or other government benefits, to cover such overdrafts and overdraft fees.

Multiple signatures, electronic check conversion, and similar transactions - An electronic check conversion transaction is a transaction where a check or similar item is converted into an electronic fund transfer as defined in the Electronic Fund Transfers regulation. In these types of transactions the check or similar item is either removed from circulation (truncated) or given back to you. As a result, we have no opportunity to review the check to examine the signatures on the item. You agree that, as to these or any items as to which we have no opportunity to examine the signatures, you waive any requirement of multiple signatures.

Notice of withdrawal - We reserve the right to require not less than 7 days' notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D. (The law requires us to reserve this right, but it is not our general policy to use it.) Withdrawals from a time account prior to maturity or prior to any notice period may be restricted and may be subject to penalty. See your notice of penalty for early withdrawal.

CHAPTER 167D ACCOUNTS - Except as indicated below, we do not intend to subject your account to (i) a service, maintenance or similar charge, (ii) a minimum balance requirement, (iii) a charge for a check, deposit or withdrawal, or (iv) a fee for the initial order or subsequent refills of the basic line of checks offered by us if you qualify for the minor or senior citizen fee exemption under Chapter 167D of Massachusetts General Laws. You should notify us if you or your spouse qualify so that we may administer your account accordingly. Despite this exemption, we may assess a fee for certain services in accordance with our published service charge schedule, including stop payment orders, wire transfers, certified or bank checks, money orders and deposit items returned, transactions at electronic branches and through other electronic devices, and services not directly associated with the deposit, withdrawal or transfer of funds from any such account; and we may assess you a reasonable charge when payment has been refused because of insufficient funds on any check or other transaction on the account (as permitted by law).

OWNERSHIP OF ACCOUNT AND BENEFICIARY DESIGNATION - These rules apply to this account depending on the form of ownership and beneficiary designation, if any, specified on the account records. We reserve the right to refuse some forms of ownership on any or all of our accounts. We make no representations as to the appropriateness or effect of the ownership and beneficiary designations, except as they determine to whom we pay the account funds.

Individual Account - is an account in the name of one person.

Joint Account - With Survivorship (And Not As Tenants In Common) - is an account in the name of two or more persons. Each of you intend that when you die the balance in the account (subject to any previous pledge to which we have agreed) will belong to the survivor(s). If two or more of you survive, you will own the balance in the account as joint tenants with survivorship and not as tenants in common.

Revocable Trust Account - One or two of you (called trustees) may create such an account in trust for other persons. Payments may be made to the trustee, or if there are two trustees, to either or both of the trustees or the survivor. Upon the death of the trustee or the death of both trustees, payment may be made to the person or persons who survive the death of the last surviving trustee in an equal portion of the funds for whom the trust was made, or that person's legal representative.

BUSINESS, ORGANIZATION AND ASSOCIATION ACCOUNTS - Earnings in the form of interest, dividends, or credits will be paid only on collected funds, unless otherwise provided by law or our policy. You represent that you have the authority to open and conduct business on this account on behalf of the entity. We may require the governing body of the entity opening the account to give us a separate authorization telling us who is authorized to act on its behalf. We will honor the authorization until we actually receive written notice of a change from the governing body of the entity.

STOP PAYMENTS - Unless otherwise provided, the rules in this section cover stopping payment of items such as checks and drafts. Rules for stopping payment of other types of transfers of funds, such as consumer electronic fund transfers, may be established by law or our policy. If we have not disclosed these rules to you elsewhere, you may ask us about those rules.

We may accept an order to stop payment on any item from any one of you. You must make any stop-payment order in the manner required by law and we must receive it in time to give us a reasonable opportunity to act on it before our stop-payment cutoff time. Because stop-payment orders are handled by computers, to be effective, your stop-payment order must precisely identify the number, date, and amount of the item, and the payee. You may stop payment on any item drawn on your account whether you sign the item or not. Generally, if your stop-payment order is given to us in writing it is effective for six months. Your order will lapse after that time if you do not renew the order in writing before the end of the six-month period. If the original stop-payment order was verbal your stop-payment order will lapse after 14 calendar days if you do not confirm your order in writing within that time period. We are not obligated to notify you when a stop-payment order expires. A release of the stop-payment request may be made only by the person who initiated the stop-payment order.

If you stop payment on an item and we incur any damages or expenses because of the stop payment, you agree to indemnify us for those damages or expenses, including attorneys' fees. You assign to us all rights against the payee or any other holder of the item. You agree to cooperate with us in any legal actions that we may take against such persons. You should be aware that anyone holding the item may be entitled to enforce payment against you despite the stop-payment order.

TELEPHONE TRANSFERS - A telephone transfer of funds from this account to another account with us, if otherwise arranged for or permitted, may be made by the same persons and under the same conditions generally applicable to withdrawals made in writing. Unless a different limitation is disclosed in writing, we restrict the number of transfers from a savings account to another account or to third parties, to a maximum of six per month (less the number of "preauthorized transfers" during the month). Other account transfer restrictions may be described elsewhere.

AMENDMENTS AND TERMINATION - We may change any term of this agreement. Rules governing changes in interest rates are provided separately in the Truth-in-Savings disclosure or in another document. For other changes, we will give you reasonable notice in writing or by any other method permitted by law. We may also close this account at any time upon reasonable notice to you and tender of the account balance personally or by mail. Items presented for payment after the account is closed may be dishonored. When you close your account, you are responsible for leaving enough money in the account to cover any outstanding items to be paid from the account. Reasonable notice depends on the circumstances, and in some cases such as when we cannot verify your identity or we suspect fraud, it might be reasonable for us to give you notice after the change or account closure becomes effective. For instance, if we suspect fraudulent activity with respect to your account, we might immediately freeze or close your account and then give you notice. You agree to keep us informed of your current address at all times. Notice from us to any one of you is notice to all of you. If we have notified you of a change in any term of your account and you continue to have your account after the effective date of the change, you have agreed to the new term(s).

STATEMENTS - Your duty to report unauthorized signatures, alterations and forgeries - You must examine your statement of account with "reasonable promptness." If you discover (or reasonably should have discovered) any unauthorized signatures or alterations, you must promptly notify us of the relevant facts. As between you and us, if you fail to do either of these duties, you will have to either share the loss with us, or bear the loss entirely yourself (depending on whether we used ordinary care and, if not, whether we substantially contributed to the loss). The loss could be not only with respect to items on the statement but other items with unauthorized signatures or alterations by the same wrongdoer.

You agree that the time you have to examine your statement and report to us will depend on the circumstances, but will not, in any circumstance, exceed a total of 30 days from when the statement is first sent or made available to you.

You further agree that if you fail to report any unauthorized signatures, alterations or forgeries in your account within 60 days of when we first send or make the statement available, you cannot assert a claim against us on any items in that statement, and as between you and us the loss will be entirely yours. This 60-day limitation is without regard to whether we used ordinary care. The limitation in this paragraph is in addition to that contained in the first paragraph of this section.

Your duty to report other errors - In addition to your duty to review your statements for unauthorized signatures, alterations and forgeries, you agree to examine your statement with reasonable promptness for any other error - such as an encoding error. You agree that the time you have to examine your statement and report to us will depend on the circumstances. However, such time period shall not exceed 60 days. Failure to examine your statement and report any such errors to us within 60 days of when we first send or make the statement available precludes you from asserting a claim against us for any such errors on items identified in that statement and as between you and us the loss will be entirely yours.

Errors relating to electronic fund transfers or substitute checks - For information on errors relating to electronic fund transfers (e.g., computer, debit card or ATM transactions) refer to your Electronic Fund Transfers disclosure and the sections on consumer liability and error resolution. For information on errors relating to a substitute check you received, refer to your disclosure entitled Substitute Checks and Your Rights.

ACCOUNT TRANSFER - This account may not be transferred or assigned without our prior written consent.

DIRECT DEPOSITS - If we are required for any reason to reimburse the federal government for all or any portion of a benefit payment that was directly deposited into your account, you authorize us to deduct the amount of our liability to the federal government from the account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability.

SETOFF - We may (without prior notice and when permitted by law) set off the funds in this account against any due and payable debt you owe us now or in the future, by any of you having the right of withdrawal, to the extent of such persons' or legal entity's right to withdraw. If the debt arises from a note, "any due and payable debt" includes the total amount of which we are entitled to demand payment under the terms of the note at the time we set off, including any balance the due date for which we properly accelerate under the note.

This right of setoff does not apply to this account if prohibited by law. For example, the right of setoff does not apply to this account if: (a) it is an Individual Retirement Account or similar tax- deferred account, or (b) the debt is created by a consumer credit transaction under a credit card plan (but this does not affect our rights under any consensual security interest), or (c) the debtor's right of withdrawal only arises in a representative capacity. We will not be liable for the dishonor of any check when the dishonor occurs because we set off a debt against this account. You agree to hold us harmless from any claim arising as a result of our exercise of our right of setoff.

RESTRICTIVE LEGENDS - The automated processing of the large volume of checks we receive prevents us from inspecting or looking for special instructions or "restrictive legends" on every check. Examples of restrictive legends placed on checks are "must be presented within 90 days" or "not valid for more than $1,000.00." For this reason, we are not required to honor any restrictive legend placed on checks you write unless we have agreed in writing to the restriction. We are not responsible for any losses, claims, damages, or expenses that result from your placement of these or other special instructions on your checks.

PAYMENT ORDER OF ITEMS - The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. The payment order can affect the number of items overdrawn or returned unpaid and the amount of the fees you may have to pay. To assist you in managing your account, we are providing you with the following information regarding how we process those items.

Our policy is to process electronic transactions first - in the order in which they are received for the day on which they are processed. We process checks & similar items second - in the order in which they are received for the day on which they are processed.

If a check, item or transaction (other than an ATM or everyday debit card transaction) is presented without sufficient funds in your account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item for insufficient funds (NSF). The amounts of the overdraft and NSF fees are disclosed elsewhere, as are your rights to opt in to overdraft services for ATM and everyday debit card transactions, if applicable. We encourage you to make careful records and practice good account management. This will help you to avoid creating items without sufficient funds and potentially incurring the resulting fees.

CHECK PROCESSING - We process items mechanically by relying solely on the information encoded in magnetic ink along the bottom of the items. This means that we do not individually examine all of your items to determine if the item is properly completed, signed and indorsed or to determine if it contains any information other than what is encoded in magnetic ink. You agree that we have not failed to exercise ordinary care solely because we use our automated system to process items and do not inspect all items processed in such a manner. Using an automated process helps us keep costs down for you and all account holders.

CHECK CASHING - We may charge a fee for anyone that does not have an account with us who is cashing a check, draft or other instrument written on your account. We may also require reasonable identification to cash such a check, draft or other instrument. We can decide what identification is reasonable under the circumstances and such identification may be documentary or physical and may include collecting a thumbprint or fingerprint.

ACH AND WIRE TRANSFERS - This agreement is subject to Article 4A of the Uniform Commercial Code - Fund Transfers as adopted in the state in which you have your account with us. If you originate a fund transfer and you identify by name and number a beneficiary financial institution, an intermediary financial institution or a beneficiary, we and every receiving or beneficiary financial 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. You agree to be bound by automated clearing house association rules. These rules provide, among other things, that payments made to you, or originated by you, are provisional until final settlement is made through a Federal Reserve Bank or payment is otherwise made as provided in Article 4A-403(a) of the Uniform Commercial Code. If we do not receive such payment, we are entitled to a refund from you in the amount credited to your account and the party originating such payment will not be considered to have paid the amount so credited. If we receive a payment order to credit an account you have with us by wire or ACH, we are not required to give you any notice of the payment order or credit.

FACSIMILE SIGNATURES - Unless you make advance arrangements with us, we have no obligation to honor facsimile signatures on your checks or other orders. If we do agree to honor items containing facsimile signatures, you authorize us, at any time, to charge you for all checks, drafts, or other orders, for the payment of money, that are drawn on us. You give us this authority regardless of by whom or by what means the facsimile signature(s) may have been affixed so long as they resemble the facsimile signature specimen filed with us, and contain the required number of signatures for this purpose. You must notify us at once if you suspect that your facsimile signature is being or has been misused.

INDORSEMENTS - We may accept for deposit any item payable to you or your order, even if they are not indorsed by you. We may give cash back to any one of you. We may supply any missing indorsement(s) for any item we accept for deposit or collection, and you warrant that all indorsements are genuine.

To ensure that your check or share draft is processed without delay, you must indorse it (sign it on the back) in a specific area. Your entire indorsement (whether a signature or a stamp) along with any other indorsement information (e.g. additional indorsements, ID information, driver's license number, etc.) must fall within 1½" of the "trailing edge" of a check. Indorsements must be made in blue or black ink, so that they are readable.

As you look at the front of a check, the "trailing edge" is the left edge. When you flip the check over, be sure to keep all indorsement information within 1½" of that edge.

It is important that you confine the indorsement information to this area since the remaining blank space will be used by others in the processing of the check to place additional needed indorsements and information. You agree that you will indemnify, defend, and hold us harmless for any loss, liability, damage or expense that occurs because your indorsement, another indorsement or information you have printed on the back of the check obscures our indorsement.

These indorsement guidelines apply to both personal and business checks.

DEATH OR INCOMPETENCE - You agree to notify us promptly if any person with a right to withdraw funds from your account(s) dies or becomes legally incompetent. We may continue to honor your checks, items, and instructions until: (a) we know of your death or incompetence, and (b) we have had a reasonable opportunity to act on that knowledge. You agree that we may pay or certify checks drawn on or before the date of death or legal incompetence for up to ten (10) days after your death or legal incompetence unless ordered to stop payment by someone claiming an interest in the account.

FIDUCIARY ACCOUNTS - Accounts may be opened by a person acting in a fiduciary capacity. A fiduciary is someone who is appointed to act on behalf of and for the benefit of another. This account may be opened and maintained by a person or persons named as a trustee under a written trust agreement, or as executors, administrators, or conservators under court orders. You understand that by merely opening such an account, we are not acting in the capacity of a trustee in connection with the trust nor do we undertake any obligation to monitor or enforce the terms of the trust or letters.

CREDIT VERIFICATION - You agree that we may verify credit and employment history by any necessary means, including preparation of a credit report by a credit reporting agency.

LEGAL ACTIONS AFFECTING YOUR ACCOUNT - If we are served with a subpoena, restraining order, writ of attachment or execution, levy, garnishment, search warrant, or similar order relating to your account (termed "legal action" in this section), we will comply with that legal action. Or, in our discretion, we may freeze the assets in the account and not allow any payments out of the account until a final court determination regarding the legal action. We may do these things even if the legal action involves less than all of you. In these cases, we will not have any liability to you if there are insufficient funds to pay your items because we have withdrawn funds from your account or in any way restricted access to your funds in accordance with the legal action. Any fees or expenses we incur in responding to any legal action (including, without limitation, attorneys' fees and our internal expenses) may be charged against your account. The list of fees applicable to your account(s) provided elsewhere may specify additional fees that we may charge for certain legal actions.

SECURITY - It is your responsibility to protect the account numbers and electronic access devices (e.g., an ATM card) we provide you for your account(s). Do not discuss, compare, or share information about your account number(s) with anyone unless you are willing to give them full use of your money. An account number can be used by thieves to encode your number on a false demand draft which looks like and functions like an authorized check. If you furnish your access device and grant actual authority to make transfers to another person (a family member or coworker, for example) who then exceeds that authority, you are liable for the transfers unless we have been notified that transfers by that person are no longer authorized.

Your account number can also be used to electronically remove money from your account. If you provide your account number in response to a telephone solicitation for the purpose of making a transfer (to purchase a service or merchandise, for example), payment can be made from your account even though you did not contact us directly and order the payment.

You must also take precaution in safeguarding your blank checks. Notify us at once if you believe your checks have been lost or stolen. As between you and us, if you are negligent in safeguarding your checks, you must bear the loss entirely yourself or share the loss with us (we may have to share some of the loss if we failed to use ordinary care and if we substantially contributed to the loss).

You agree that if we offer you services appropriate for your account to help identify and limit fraud or other unauthorized transactions against your account, such as positive pay or commercially reasonable security procedures, and you reject those services, you will be responsible for any fraudulent or unauthorized transactions which could have been prevented by the services we offered, unless we acted in bad faith or to the extent our negligence contributed to the loss.

TRANSACTIONS BY MAIL - You may deposit checks by mail. You should indorse the check being sent through the mail with the words "For Deposit Only" and should include your correct account number underneath to ensure the check is credited to the correct account. You should use the pre-encoded checking deposit slips found behind your checks in your checkbook. If you do not use your deposit slip or provide us with instructions indicating how or where the check should be credited, we may apply it to any account or any loan balance you have with us or we may return the check to you.

REMOTELY CREATED CHECKS - Like any standard check or draft, a remotely created check (sometimes called a telecheck, preauthorized draft or demand draft) is a check or draft that can be used to withdraw money from an account. Unlike a typical check or draft, however, a remotely created check is not issued by the paying bank and does not contain the signature of the account owner (or a signature purported to be the signature of the account owner). In place of a signature, the check usually has a statement that the owner authorized the check or has the owner's name typed or printed on the signature line. For example, if a person provides an account number in response to a telephone solicitation, the telephone solicitor can use the account number to issue a remotely created check to withdraw money from that account.

You warrant and agree to the following for every remotely created check we receive from you for deposit or collection: (1) you have received express and verifiable authorization to create the check in the amount and to the payee that appears on the check; (2) you will maintain proof of the authorization for at least 2 years from the date of the authorization, and supply us the proof if we ask; and (3) if a check is returned you owe us the amount of the check, regardless of when the check is returned. We may take funds from your account to pay the amount you owe us, and if there are insufficient funds in your account, you still owe us the remaining balance.

TELEPHONIC INSTRUCTIONS - Unless required by law or we have agreed otherwise in writing, we are not required to act upon instructions you give us via facsimile transmission or leave by voice mail or on a telephone answering machine.

CLAIM OF LOSS - If you claim a credit or refund because of a forgery, alteration, or any other unauthorized withdrawal, you agree to cooperate with us in the investigation of the loss, including giving us an affidavit containing whatever reasonable information we require concerning your account, the transaction, and the circumstances surrounding the loss. You will notify law enforcement authorities of any criminal act related to the claim of lost, missing, or stolen checks or unauthorized withdrawals. We will have a reasonable period of time to investigate the facts and circumstances surrounding any claim of loss. Unless we have acted in bad faith, we will not be liable for special or consequential damages, including loss of profits or opportunity, or for attorneys' fees incurred by you.

You agree that you will not waive any rights you have to recover your loss against anyone who is obligated to repay, insure, or otherwise reimburse you for your loss. You will pursue your rights or, at our option, assign them to us so that we may pursue them. Our liability will be reduced by the amount you recover or are entitled to recover from these other sources.

EARLY WITHDRAWAL PENALTIES (and involuntary withdrawals) - We may impose early withdrawal penalties on a withdrawal from a time account even if you don't initiate the withdrawal. For instance, the early withdrawal penalty may be imposed if the withdrawal is caused by our setoff against funds in the account or as a result of an attachment or other legal process. We may close your account and impose the early withdrawal penalty on the entire account balance in the event of a partial early withdrawal. See your notice of penalty for early withdrawals for additional information.

ADDRESS OR NAME CHANGES - You are responsible for notifying us of any change in your address or your name. Unless we agree otherwise, change of address or name must be made in writing by at least one of the account holders. Informing us of your address or name change on a check reorder form is not sufficient. We will attempt to communicate with you only by use of the most recent address you have provided to us. If provided elsewhere, we may impose a service fee if we attempt to locate you.

RESOLVING ACCOUNT DISPUTES - We may place an administrative hold on the funds in your account (refuse payment or withdrawal of the funds) if it becomes subject to a claim adverse to (1) your own interest; (2) by others claiming an interest as survivors or beneficiaries of your account; or (3) a claim arising by operation of law. The hold may be placed for such period of time as we believe reasonably necessary to allow a legal proceeding to determine the merits of the claim or until we receive evidence satisfactory to us that the dispute has been resolved. We will not be liable for any items that are dishonored as a consequence of placing a hold on funds in your account for these reasons.

WAIVER OF NOTICES - You waive any notice of non-payment, dishonor or protest regarding any items credited to or charged against your account.

FUNDS TRANSFERS - The terms used in this section have the meaning given to them in Article 4A of the Uniform Commercial Code - Funds Transfers (UCC 4A). This section will generally not apply to you if you are a consumer. However, even if you are a consumer, this section will apply to that part of any funds transfer that is conducted by Fedwire. This section is subject to UCC 4A as adopted in the state in which you have your deposit with us. This agreement is also subject to all clearing house association rules, rules of the Board of Governors of the Federal Reserve System and their operating circulars. If any part of this agreement is determined to be unenforceable, the rest of the agreement remains effective. This agreement controls funds transfers unless supplemented or amended in a separate written agreement signed by us. This agreement does not apply to a funds transfer if any part of the transfer is governed by the Electronic Fund Transfer Act of 1978 (EFTA), except this agreement does apply to a funds transfer that is a remittance transfer as defined in EFTA unless the remittance transfer is an electronic fund transfer as defined in EFTA.

Funds transfer - A funds transfer is the transaction or series of transactions that begin with the originator's payment order, made for the purpose of making payment to the beneficiary of the order. A funds transfer is completed by the acceptance by the beneficiary's bank of a payment order for the benefit of the beneficiary of the originator's order. You may give us a payment order orally, electronically, or in writing, but your order cannot state any condition to payment to the beneficiary other than the time of payment.

Authorized account - An authorized account is a deposit account you have with us that you have designated as a source of payment of payment orders you issue to us. If you have not designated an authorized account, any account you have with us is an authorized account to the extent that payment of the payment order is not inconsistent with the use of the account.

Acceptance of your payment order - We are not obligated to accept any payment order that you give us, although we normally will accept your payment order if you have a withdrawable credit in an authorized account sufficient to cover the order. If we do not execute your payment order, but give you notice of our rejection of your payment order after the execution date or give you no notice, we are not liable to pay you as restitution any interest on a withdrawable credit in a non-interest-bearing account.

Cutoff time - If we do not receive your payment order or communication canceling or amending a payment order before our cutoff time on a funds transfer day for that type of order or communication, the order or communication will be deemed to be received at the opening of our next funds transfer business day.

Payment of your order - If we accept a payment order you give us, we may receive payment by automatically deducting from any authorized account the amount of the payment order plus the amount of any expenses and charges for our services in execution of your payment order. We are entitled to payment on the payment or execution date. Unless your payment order specifies otherwise, the payment or execution date is the funds transfer date we receive the payment order. The funds transfer is completed upon acceptance by the beneficiary's bank. Your obligation to pay your payment order is excused if the funds transfer is not completed, but you are still responsible to pay us any expenses and charges for our services. However, if you told us to route the funds transfer through an intermediate bank, and we are unable to obtain a refund because the intermediate bank that you designated has suspended payments, then you are still obligated to pay us for the payment order. You will not be entitled to interest on any refund you receive because the beneficiary's bank does not accept the payment order.

Security procedure - As described more fully in a separate writing, the authenticity of a payment order or communication canceling or amending a payment order issued in your name as sender may be verified by a security procedure. You affirm that you have no circumstances which are relevant to the determination of a commercially reasonable security procedure unless those circumstances are expressly contained in a separate writing signed by us. You may choose from one or more security procedures that we have developed, or you may develop your own security procedure if it is acceptable to us. If you refuse a commercially reasonable security procedure that we have offered you, you agree that you will be bound by any payment order issued in your name, whether or not authorized, that we accept in good faith and in compliance with the security procedure you have chosen.

Duty to report unauthorized or erroneous payment - You must exercise ordinary care to determine that all payment orders or amendments to payment orders that we accept that are issued in your name are authorized, enforceable, in the correct amount, to the correct beneficiary, and not otherwise erroneous. If you discover (or with reasonable care should have discovered) an unauthorized, unenforceable, or erroneously executed payment order or amendment, you must exercise ordinary care to notify us of the relevant facts. The time you have to notify us will depend on the circumstances, but that time will not in any circumstance exceed 14 days from when you are notified of our acceptance or execution of the payment order or amendment or that your account was debited with respect to the order or amendment. If you do not provide us with timely notice you will not be entitled to interest on any refundable amount. If we can prove that you failed to perform either of these duties with respect to an erroneous payment and that we incurred a loss as a result of the failure, you are liable to us for the amount of the loss not exceeding the amount of your order.

Identifying number - If your payment order identifies an intermediate bank, beneficiary bank, or beneficiary by name and number, we and every receiving or beneficiary bank may rely upon the identifying number rather than the name to make payment, even if the number identifies an intermediate bank or person different than the bank or beneficiary identified by name. Neither we nor any receiving or beneficiary bank have any responsibility to determine whether the name and identifying number refer to the same financial institution or person.

Record of oral or telephone orders - You agree that we may, if we choose, record any oral or telephone payment order or communication of amendment or cancelation.

Notice of credit - If we receive a payment order to credit an account you have with us, we are not required to provide you with any notice of the payment order or the credit.

Provisional credit - You agree to be bound by the automated clearing house association operating rules that provide that payments made to you or originated by you by funds transfer through the automated clearing house system are provisional until final settlement is made through a Federal Reserve Bank or otherwise payment is made as provided in Article 4A-403(a) of the Uniform Commercial Code.

Refund of credit - You agree that if we do not receive payment of an amount credited to your account, we are entitled to a refund from you in the amount credited and the party originating such payment will not be considered to have paid the amount so credited.

Amendment of funds transfer agreement - From time to time we may amend any term of this agreement by giving you reasonable notice in writing. We may give notice to anyone who is authorized to send payment orders to us in your name, or to anyone who is authorized to accept service.

Cancelation or amendment of payment order - You may cancel or amend a payment order you give us only if we receive the communication of cancelation or amendment before our cutoff time and in time to have a reasonable opportunity to act on it before we accept the payment order. The communication of cancelation or amendment must be presented in conformity with the same security procedure that has been agreed to for payment orders.

Intermediaries - We are not liable for the actions of any intermediary, regardless of whether or not we selected the intermediary. We are not responsible for acts of God, outside agencies, or nonsalaried agents.

Limit on liability - You waive any claim you may have against us for consequential or special damages, including loss of profit arising out of a payment order or funds transfer, unless this waiver is prohibited by law. We are not responsible for attorney fees you might incur due to erroneous execution of payment order.

Erroneous execution - If we receive an order to pay you, and we erroneously pay you more than the amount of the payment order, we are entitled to recover from you the amount in excess of the amount of the payment order, regardless of whether you may have some claim to the excess amount against the originator of the order.

Objection to payment - If we give you a notice that reasonably identifies a payment order issued in your name as sender that we have accepted and received payment for, you cannot claim that we are not entitled to retain the payment unless you notify us of your objection to the payment within 60 days of our notice to you.


NOTICE OF NEGATIVE INFORMATION

Federal law requires us to provide the following notice to customers before any "negative information" may be furnished to a nationwide consumer reporting agency. "Negative information" includes information concerning delinquencies, overdrafts or any form of default. This notice does not mean that we will be reporting such information about you, only that we may report such information about customers that have not done what they are required to do under our agreement.

After providing this notice, additional negative information may be submitted without providing another notice.

We may report information about your account to credit bureaus. Late payments, missed payments or other defaults on your account may be reflected in your credit report.


ELECTRONIC FUND TRANSFERS YOUR RIGHTS AND RESPONSIBILITIES

Indicated below are types of Electronic Fund Transfers we are capable of handling, some of which may not apply to your account. Please read this disclosure carefully because it tells you your rights and obligations for the transactions listed. You should keep this notice for future reference.

Electronic Fund Transfers Initiated By Third Parties. You may authorize a third party to initiate electronic fund transfers between your account and the third party's account. These transfers to make or receive payment may be one-time occurrences or may recur as directed by you. These transfers may use the Automated Clearing House (ACH) or other payments network. Your authorization to the third party to make these transfers can occur in a number of ways. For example, your authorization to convert a check to an electronic fund transfer or to electronically pay a returned check charge can occur when a merchant provides you with notice and you go forward with the transaction (typically, at the point of purchase, a merchant will post a sign and print the notice on a receipt). In all cases, these third party transfers will require you to provide the third party with your account number and bank information. This information can be found on your check as well as on a deposit or withdrawal slip. Thus, you should only provide your bank and account information (whether over the phone, the Internet, or via some other method) to trusted third parties whom you have authorized to initiate these electronic fund transfers. Examples of these transfers include, but are not limited to:

Please also see Limitations on frequency of transfers section regarding limitations that apply to savings accounts.

The Banking Connectionsm Telephone Transfers - types of transfers and dollar limitations - You may access your account by telephone 24 hours a day at (617) 354-2700 or 1-800-869-3423 using your personal identification number, a touch tone phone, your account numbers, and social security number, to:

Please also see Limitations on frequency of transfers section regarding limitations that apply to telephone transfers.

ATM Transfers - types of transfers, dollar limitations, and charges - You may access your account(s) by ATM using your ATM card and personal identification number or debit card and personal identification number, to:

Please refer to our separate fee schedule for information regarding charges at ATMs we do not own or operate.

Some of these services may not be available at all terminals.

Please also see Limitations on frequency of transfers section regarding limitations that apply to ATM transfers.

Types of ATM Card Point-of-Sale Transactions - You may access your checking or savings (if applicable) account(s), to purchase goods (in person), pay for services (in person), and get cash from a merchant, if the merchant permits, or from a participating financial institution.

Point-of-Sale Transactions - dollar limitations and charges - Using your card:

Types of Debit Card Point-of-Sale Transactions - You may access your checking account(s), to purchase goods (in person, online, or by phone), pay for services (in person, online, or by phone), get cash from a merchant, if the merchant permits, or from a participating financial institution, and do anything that a participating merchant will accept.

Point-of-Sale Transactions - frequency and dollar limitations and charges - Using your card:

Please also see Limitations on frequency of transfers section regarding limitations that apply to debit card transactions.

Currency Conversion and Cross-Border Transaction Fees. If you effect a transaction with your debit card in a currency other than US Dollars, MasterCard will convert the charge into a US Dollar amount. The MasterCard currency conversion procedure includes use of either a government-mandated exchange rate, or a wholesale exchange rate selected by MasterCard. The exchange rate MasterCard uses will be a rate in effect on the day the transaction is processed. This rate may differ from the rate in effect on the date of purchase or the date the transaction was posted to your account.

MasterCard charges us a Currency Conversion Assessment of 20 basis points (.2% of the transaction) for performing the currency conversion. In addition, MasterCard charges us an Issuer Cross-Border Assessment of 90 basis points (.9% of the transaction) on all cross-border transactions regardless of whether there is a currency conversion. As a result, we charge you a Currency Conversion fee of .2% and a Cross-Border Transaction fee of .9%. The Cross-Border Transaction fee is charged on all cross-border transactions regardless of whether there is a currency conversion. A cross-border transaction is a transaction processed through the Global Clearing Management System or the MasterCard Debit Switch in which the country of the merchant is different than the country of the cardholder.

Online Banking Computer Transfers - types of transfers - You may access your account(s) by computer using your user ID, password, and internet access to www.ecsb.com, to:

Please also see Limitations on frequency of transfers section regarding limitations that apply to computer transfers.

Mobile Banking Transfers - types of transfers - You may access your account(s) through the browser on your cell or mobile phone at www.ecsb.com and using your user identification, password, and multifactor authentication, to:

Please also see Limitations on frequency of transfers section regarding limitations that apply to computer transfers.

Limitations on frequency of transfers. In addition to those limitations on transfers elsewhere described, if any, the following limitations apply:

Termination -

Minimum account balance -

FEES

Except as indicated elsewhere, we do not charge for these electronic fund transfers.

ATM Operator/Network 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).

DOCUMENTATION

PREAUTHORIZED PAYMENTS

ADDITIONAL INFORMATION REQUIRED BY MASSACHUSETTS LAW

  1. Any documentation provided to you which indicates that an electronic fund transfer was made to another person shall be admissible as evidence of the transfer and shall constitute prima-facie proof that the transfer was made.
  2. The initiation by you of certain electronic fund transfers from your account will, except as otherwise provided in the agreement, effectively eliminate your ability to stop payment of the transfer.

Unless otherwise provided in this agreement, you (the consumer) may not stop payment of electronic fund transfers, therefore you should not employ electronic access for purchases or services unless you are satisfied that you will not need to stop payment.

FINANCIAL INSTITUTION'S LIABILITY

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. However, there are some exceptions. We will not be liable, for instance:

  1. If, through no fault of ours, you do not have enough money in your account to make the transfer.
  2. If you have an overdraft line and the transfer would go over the credit limit.
  3. If the automated teller machine where you are making the transfer does not have enough cash.
  4. If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.
  5. If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
  6. If the funds are subject to legal process or other encumbrance restricting such transfer.
  7. There may be other exceptions stated in our agreement with you.

CONFIDENTIALITY

In order that your privacy may be protected, we will not disclose any information about you or your account to any person, organization, or agency except:

  1. for certain routine disclosures necessary for the completion of a transfer; or
  2. for verification of the existence and condition of your account for a credit bureau or merchant; or
  3. to persons authorized by law in the course of their official duties; or
  4. to our employees, auditors, service providers, attorneys or collection agents in the course of their duties; or
  5. pursuant to a court order or lawful subpoena; or
  6. to a consumer reporting agency as defined in Chapter 93 of Massachusetts General Laws; or
  7. by your written authorization which shall automatically expire 45 days after our receipt of your authorization.

If an unauthorized disclosure has been made, we must inform you of the particulars of the disclosure within 3 days after we have discovered that an unauthorized disclosure has occurred.

UNAUTHORIZED TRANSFERS

(a) Consumer liability.

(b) Contact in event of unauthorized transfer. If you think your card and/or code has been lost, stolen or that someone has transferred or may transfer money from your account without your permission, for example, by using the information from your check, call or write us at the telephone number or address listed in this brochure.

PROTECTED CONSUMER USE

Chapter 167B of the Massachusetts General Laws was enacted to provide a means for financial institutions, businesses, and consumers to conduct their business relations more conveniently. Transferring funds electronically will supplement the use of checks, credit, and cash and will not replace these present methods of doing business. As a consumer, you should be aware of your rights if you choose to utilize this system.

  1. Prohibition of compulsory use. No person may:
    -require you to use a preauthorized electronic fund transfer as a condition of the extension of credit unless the credit is being extended in connection with an overdraft checking plan, or is being extended to maintain a specified balance in your account, or
    -require you either to accept a transfer service or to establish an account which is accessed electronically as conditions of employment or receipt of governmental benefit, or
    -require you to pay electronically for the purchase of goods or services.
    If your account is to be credited by a preauthorized transfer you may choose the financial institution to which the transfer may be made, if the institution is technically capable of receiving such preauthorized transfer.
  2. Waiver of rights. No writing or agreement signed by you can waive the rights conferred to you by Chapter 167B of the Massachusetts General Laws unless you decide to waive these rights in settlement of a dispute or action.
  3. Refunds. If it is the policy of a store or retail business to give cash refunds in return for an item purchased by cash, then this policy must also cover refunds for items purchased by electronic fund transfer unless it is clearly disclosed at the time the transaction is consummated that no cash or credit refunds are given for payments made by electronic fund transfers.
  4. Suspension of obligations. If a person agrees to accept payment by means of an electronic fund transfer and the system malfunctions preventing such a transfer, then the consumer's obligation is suspended until the transfer can be completed, unless that person, in writing, demands payment by other means.
  5. Prohibited means of identification. Your Social Security number cannot be used as the primary identification number although it can be used as secondary aid to identify you.
  6. Criminal liability. Procuring or using a card, code or other means of electronic access to an account with the intent to defraud is a basis for criminal liability.

ERROR RESOLUTION NOTICE

In Case of Errors or Questions About Your Electronic Transfers, Call or Write us at the telephone number or address listed in this brochure, as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.

  1. Tell us your name and account number (if any).

  2. Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.

  3. Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.

We will determine whether an error occurred within 10 business days (20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a new account, a point-of-sale transaction, or a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (20 business days if the transfer involved a new account) for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. Your account is considered a new account for the first 30 days after the first deposit is made, unless each of you already has an established account with us before this account is opened.

We will tell you the results within three 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.

EAST CAMBRIDGE SAVINGS BANK 292 CAMBRIDGE STREET
CAMBRIDGE, MASSACHUSETTS 02141
Business Days: Monday through Friday
Business Hours: Monday through Friday, 9:00 A.M. - 6:00 P.M.
Excluding Federal Holidays and days the bank is not open for business
Phone: (617) 354-7700

MORE DETAILED INFORMATION IS AVAILABLE ON REQUEST


YOUR ABILITY TO WITHDRAW FUNDS

This policy statement applies to all deposit accounts.

Our general policy is to make funds from your cash, check, and electronic direct deposits available to you on the same day we receive your deposit. At that time, you can withdraw the funds in cash and we will use the funds to pay checks that you have written.

Please remember that 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.

For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit before closing 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 closing or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

If you make a deposit at an ATM before 2:00 P.M. 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 at an ATM after 2:00 P.M. or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

Deposits confirmed received through Mobile Deposit before 4:30 P.M. Eastern Standard Time on a business day that we are open will be credited to your account the same day. However, deposits confirmed received after 4:30 P.M. Eastern Standard Time and any deposits confirmed received on a Saturday, Sunday or holiday will be credited to your account the following business day.

If we cash a check for you that is drawn on another bank, 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.

If we accept for deposit a check that is drawn on another bank, 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.

LONGER DELAYS MAY APPLY

Case-by-case delays. In some cases, we will not make all of the funds that you deposit by check available to you on the same day we receive your deposit. Depending on the type of check that you deposit, at least $200 of your deposit will be available no later than the business day following the day of your deposit.

If we are not going to make all of the funds from your deposit available on the same day we receive your deposit, 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.

Safeguard exceptions. In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:

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.

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.

Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from cash deposits made to one of our employees, other forms of electronic payments, and the first $5,000 of a day's total deposits of cashier's, certified, teller's, traveler's, and federal, state and local government checks, if made in person, will be available on the same day as the day of your deposit. The checks must be payable to you (and you may have to use a special deposit slip). The excess over $5,000 will be available on the seventh business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,000 will not be available until the second business day after the day of your deposit.

Funds from all other check deposits will be available on the seventh business day after the day of your deposit.

DEPOSITS AT AUTOMATED TELLER MACHINES

Funds from any deposits (cash or checks) made at automated teller machines (ATMs) will not be available until the second business day after the day of your deposit.

All ATMs that we own or operate are identified as our machines.

REMOTE DEPOSITS

Funds from your deposits made from a mobile or scanner device will not be available until the second business day after the day of your deposit.


SUBSTITUTE CHECKS AND YOUR RIGHTS

As our customer we think it's important for you to know about substitute checks. The following Substitute Check Disclosure provides information about substitute checks and your rights. So you will recognize substitute checks when you receive them, we have included a copy of the front side of a substitute check along with an explanation of the substitute check's components.

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 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 at:

You must contact us within 60 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.

These numbers correspond with the numbers on the Substitute Check Image:

  1. An image of the original check appears in the upper right-hand corner of the substitute check.
  2. A substitute check is the same size as a standard business check.
  3. The information in asterisks relates to the "reconverting bank"--the financial institution that created the substitute check.
  4. The information in brackets (appears sideways facing check image) relates to the "truncating bank"--the financial institution that took the original check out of the check processing system.
  5. The Legal Legend states: This is a LEGAL COPY of your check. You can use it the same way you would use the original check.
  6. The MICR lines at the bottom of the image of the original and at the bottom of the substitute check are the same except for the "4" at the beginning of the MICR line on the substitute check, which indicates that it is a substitute check being moved forward for collection purposes. It is also possible for the MICR line on the substitute check to begin with a "5" if the item is being returned. The rest of the MICR line is the same as the original check to ensure that it is processed as though it were the original.

TRUTH-IN-SAVINGS DISCLOSURE

BASIC CHECKING ACCOUNT
FREE CHECKING ACCOUNT
RELATIONSHIP CHECKING ACCOUNT
NO HIDDEN FEE CHECKING ACCOUNT

These accounts do not earn interest.

Minimum balance to open the account - You must deposit $10.00 to open any of these accounts.

Fees:

Please refer to our separate fee schedule for information regarding charges.

CONNECTION CHECKING ACCOUNT

Rate Information - Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.

Determination of rate - At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account - There is no minimum balance requirement to open this account.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $10.00 in the account each day to obtain the disclosed annual percentage yield.

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

Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Fees:

Please refer to our separate fee schedule for information regarding charges.

If you do not meet the requirements to avoid the monthly maintenance service charge (described in our separate fee schedule), your account may be closed.

NOW ACCOUNT

Rate Information - Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.

Determination of rate - At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account - You must deposit $10.00 to open this account.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $10.00 in the account each day to obtain the disclosed annual percentage yield.

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

Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Fees:

Please refer to our separate fee schedule for information regarding charges.

ADVANTAGE SAVINGS ACCOUNT

Tier 1 Rate Information - Your interest rate and annual percentage yield may change.

Frequency of rate changes - We may change the interest rate on tier 1 at any time.

Determination of rate - At our discretion, we may change the interest rate on tier 1.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $250,000.00 in the account each day to obtain the disclosed annual percentage yield.

Tier 2 Rate Information - Your interest rate and annual percentage yield may change.

Frequency of rate changes - We may change the interest rate on tier 2 at any time.

Determination of rate - At our discretion, we may change the interest rate on tier 2.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $100,000.00 in the account each day to obtain the disclosed annual percentage yield.

Tier 3 Rate Information - Your interest rate and annual percentage yield may change.

Frequency of rate changes - We may charge the interest rate on tier 3 at any time.

Determination of rate - At our discretion, we may change the interest rate on tier 3.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $10,000.00 in the account each day to obtain the disclosed annual percentage yield.

Tier 4 Rate Information - Your interest rate and annual percentage yield may change.

Frequency of rate changes - We may change the interest rate on tier 4 at any time.

Determination of rate - At our discretion, we may change the interest rate on tier 4.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $10.00 in the account each day to obtain the disclosed annual percentage yield.

Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.

Minimum balance to open the account - You must deposit $10.00 to open this account.

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

Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Transaction limitations:

Transfers from an Advantage Savings account to another account or to third parties by preauthorized, automatic, telephonic (including data transmission), or computer transfer or by check, draft, point-of-sale, or similar order to third parties are limited to six per statement cycle.

We may require a seven day notice, in writing, for withdrawals or an intended transfer of funds from your Advantage Savings account. If we exercise this right, we will apply the requirement equally to all other depositors owning this type of account.

Fees:

Please refer to our separate fee schedule for information regarding charges.

iSAVE ACCOUNT

Tier 1 Rate Information - Your interest rate and annual percentage yield may change.

Frequency of rate changes - We may change the interest rate on tier 1 at any time.

Determination of rate - At our discretion, we may change the interest rate on tier 1.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $10.00 in the account each day to obtain the disclosed annual percentage yield.

Tier 2 Rate Information - Your interest rate and annual percentage yield may change.

Frequency of rate changes - We may change the interest rate on tier 2 at any time.

Determination of rate - At our discretion, we may change the interest rate on tier 2.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $50,000.00 in the account each day to obtain the disclosed annual percentage yield.

Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account - You must deposit $10.00 to open this account.

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

Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Transaction limitations:

Transfers from an iSave Savings account to another account or to third parties by preauthorized, automatic, telephonic (including data transmission), or computer transfer or by check, draft, point-of-sale, or similar order to third parties are limited to six per statement cycle.

We may require a seven day notice, in writing, for withdrawals or an intended transfer of funds from your iSave account. If we exercise this right, we will apply the requirement equally to all other depositors owning this type of account. The Bank may require that an account owner be age 18 or younger to open and maintain this account.

Fees:

Please refer to our separate fee schedule for information regarding charges.

PASSBOOK SAVINGS ACCOUNT

Rate Information - Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.

Determination of rate - At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account - You must deposit $10.00 to open this account.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $10.00 in the account each day to obtain the disclosed annual percentage yield.

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

Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Transaction limitations:

Transfers from a Passbook Savings account to another account by preauthorized or telephonic (including data transmission) transfer are limited to six per statement cycle.

We may require a seven day notice, in writing, for withdrawals or an intended transfer of funds from your Passbook Savings account. If we exercise this right, we will apply the requirement equally to all other depositors owning this type of account.

Fees:

Please refer to our separate fee schedule for information regarding charges.

STATEMENT SAVINGS ACCOUNT

Rate Information - Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.

Determination of rate - At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account - You must deposit $10.00 to open this account.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $10.00 in the account each day to obtain the disclosed annual percentage yield.

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

Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Transaction limitations:

Transfers from a Statement Savings account to another account or to third parties by preauthorized, automatic, telephonic (including data transmission), or computer transfer or by point-of-sale, or similar order to third parties are limited to six per statement cycle .

We may require a seven day notice, in writing, for withdrawals or an intended transfer of funds from your Statement Savings account. If we exercise this right, we will apply the requirement equally to all other depositors owning this type of account.

Fees:

Please refer to our separate fee schedule for information regarding charges.

RELATIONSHIP SAVINGS ACCOUNT

Tier 1 Rate Information - Your interest rate and annual percentage yield may change.

Frequency of rate changes - We may change the interest rate on tier 1 at any time.

Determination of rate - At our discretion, we may change the interest rate on tier 1.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $1,000.00 in the account each day to obtain the disclosed annual percentage yield.

Tier 2 Rate Information - Your interest rate and annual percentage yield may change.

Frequency of rate changes - We may change the interest rate on tier 2 at any time.

Determination of rate - At our discretion, we may change the interest rate on tier 2.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $10.00 in the account each day to obtain the disclosed annual percentage yield.

Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account - You must deposit $10.00 to open this account.

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

Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Transaction limitations:

Transfers from a Relationship Savings account to another account or to third parties by preauthorized, automatic, telephonic (including data transmission), or computer transfer or by draft, point-of-sale, or similar order to third parties are limited to six per statement cycle.

We may require a seven day notice, in writing, for withdrawals or an intended transfer of funds from your Relationship Savings account. If we exercise this right, we will apply the requirement equally to all other depositors owning this type of account.

Fees:

Please refer to our separate fee schedule for information regarding charges.

SPECIAL HIGH YIELD SAVINGS ACCOUNT

Tier 1 Rate Information - Your interest rate and annual percentage yield may change.
Frequency of Rate Changes - We may change the interest rate on tier 1 at anytime.
Determination of rate - At our discretion, we may change the interest rate on tier 1.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $25,000.00 in the account each day to obtain the disclosed annual percentage yield.

Tier 2 Rate Information - Your interest rate and annual percentage yield may change.
Frequency of Rate Changes - We may change the interest rate on tier 2 at anytime.
Determination of rate - At our discretion, we may change the interest rate on tier 2.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $10,000.00 in the account each day to obtain the disclosed annual percentage yield.

Tier 3 Rate Information - Your interest rate and annual percentage yield may change.
Frequency of Rate Changes - We may change the interest rate on tier 3 at anytime.
Determination of rate - At our discretion, we may change the interest rate on tier 3.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $10.00 in the account each day to obtain the disclosed annual percentage yield.

Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.

Minimum balance to open the account - You must deposit $10,000.00 to open this account.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $10.00 in the account each day to obtain the disclosed annual percentage yield.

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

Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Transaction limitations:

Transfers from a Special High Yield Savings account to another account or to third parties by preauthorized, automatic, telephonic (including data transmission), or computer transfer or by check, draft, point-of-sale, or similar order to third parties are limited to six per statement cycle.

We may require a seven day notice, in writing, for withdrawals or an intended transfer of funds from your Special High Yield Savings account. If we exercise this right, we will apply the requirement equally to all other depositors owning this type of account.

Fees:

Please refer to our separate fee schedule for information regarding charges.

eACCESS ACCOUNTS

These accounts can only be opened online. The savings account can be opened separately or paired with the checking account. The checking account cannot be a stand alone account.

(eACCESS SAVINGS ACCOUNT)

Tier 1 Rate Information - Your interest rate and annual percentage yield may change.
Frequency of Rate Changes - We may change the interest rate on tier 1 at anytime.
Determination of rate - At our discretion, we may change the interest rate on tier 1.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $50,000.00 in the account each day to obtain the disclosed annual percentage yield.

Tier 2 Rate Information - Your interest rate and annual percentage yield may change.
Frequency of Rate Changes - We may change the interest rate on tier 2 at anytime.
Determination of rate - At our discretion, we may change the interest rate on tier 2.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $25,000.00 in the account each day to obtain the disclosed annual percentage yield.

Tier 3 Rate Information - Your interest rate and annual percentage yield may change.
Frequency of Rate Changes - We may change the interest rate on tier 3 at anytime.
Determination of rate - At our discretion, we may change the interest rate on tier 3.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $10.00 in the account each day to obtain the disclosed annual percentage yield.

Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.

Minimum balance to open the account - You must deposit $10.00 to open this account.

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

Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Transaction limitations:

Transfers from an eAccess Savings account to another account or to third parties by preauthorized, automatic, telephonic (including data transmission), or computer transfer or by point-of-sale, or similar order to third parties are limited to six per statement cycle.

We may require a seven day notice, in writing, for withdrawals or an intended transfer of funds from your eAccess Savings account. If we exercise this right, we will apply the requirement equally to all other depositors owning this type of account.

Fees:

Please refer to our separate fee schedule for information regarding charges.

(eACCESS CHECKING ACCOUNT)

This account does not earn interest.

Minimum balance to open the account - You must deposit $10.00 to open this account.

Account Requirement:

If you choose to open the eAccess Checking Account, you must set-up a monthly pre-authorized transfer from this account to your eAccess Savings Account. Anytime you discontinue this transfer, your account will be closed and your funds transferred to your eAccess Savings Account.

Fees:

Please refer to our separate fee schedule for information regarding charges.

If you do not meet the requirements to avoid the monthly service charge (described in our separate fee schedule), your account may be closed.

SPECIAL SELECT BANKING PACKAGE ACCOUNT

This product pairs a Savings Account with a Checking Account.

(SAVINGS ACCOUNT)

Tier 1 Rate Information - Your interest rate and annual percentage yield may change.
Frequency of Rate Changes - We may change the interest rate on tier 1 at anytime.
Determination of rate - At our discretion, we may change the interest rate on tier 1.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $50,000.00 in the account each day to obtain the disclosed annual percentage yield.

Tier 2 Rate Information - Your interest rate and annual percentage yield may change.
Frequency of Rate Changes - We may change the interest rate on tier 2 at anytime.
Determination of rate - At our discretion, we may change the interest rate on tier 2.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $25,000.00 in the account each day to obtain the disclosed annual percentage yield.

Tier 3 Rate Information - Your interest rate and annual percentage yield may change.
Frequency of Rate Changes - We may change the interest rate on tier 3 at anytime.
Determination of rate - At our discretion, we may change the interest rate on tier 3.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $10.00 in the account each day to obtain the disclosed annual percentage yield.

Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.

Minimum balance to open the account - You must deposit $10.00 to open this account.

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

Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Transaction limitations:

Transfers from a Special Select Banking Package Savings account to another account or to third parties by preauthorized, automatic, telephonic (including data transmission), or computer transfer or by point-of-sale, or similar order to third parties are limited to six per statement cycle.

We may require a seven day notice, in writing, for withdrawals or an intended transfer of funds from your Special Select Banking Package Savings account. If we exercise this right, we will apply the requirement equally to all other depositors owning this type of account.

Fees:

Please refer to our separate fee schedule for information regarding charges.

(CHECKING ACCOUNT)

This account does not earn interest.

Fees:

Please refer to our separate fee schedule for information regarding charges.

If you do not meet the requirements to avoid the monthly service charge (described in our separate fee schedule), your account may be closed.

MONEY MARKET MANAGEMENT ACCOUNT

This product pairs a Money Market Account with a Checking Account.

(MONEY MARKET ACCOUNT)

Tier 1 Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on tier 1 at any time.

Determination of rate - At our discretion, we may change the interest rate on tier 1.

Tier 2 Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on tier 2 at any time.

Determination of rate - At our discretion, we may change the interest rate on tier 2.

Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.

Minimum balance to open the account - You must deposit $1,000.00 to open this account.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $10.00 in the account each day to obtain the disclosed annual percentage yield.

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

Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Transaction limitations:

Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, telephonic (including data transmission), or computer transfer or by check, draft, point-of-sale, or similar order to third parties are limited to six per statement cycle.

We may require a seven day notice, in writing, for withdrawals or an intended transfer of funds from your Money Market account. If we exercise this right, we will apply the requirement equally to all other depositors owning this type of account.

Fees:

Please refer to our separate fee schedule for information regarding charges.

(CHECKING ACCOUNT)

This account does not earn interest.

Fees:

Please refer to our separate fee schedule for information regarding charges.

MONEY MARKET DEPOSIT ACCOUNT

Rate Information - Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.

Determination of rate - At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.

Minimum balance to open the account - You must deposit $10.00 to open this account.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $10.00 in the account each day to obtain the disclosed annual percentage yield.

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

Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Transaction limitations:

Transfers from a Money Market Deposit account to another account or to third parties by preauthorized, automatic, telephonic (including data transmission), or computer transfer or by check, draft, point-of-sale, or similar order to third parties are limited to six per statement cycle.

We may require a seven day notice, in writing, for withdrawals or an intended transfer of funds from your Money Market Deposit account. If we exercise this right, we will apply the requirement equally to all other depositors owning this type of account.

Fees:

Please refer to our separate fee schedule for information regarding charges.

CERTIFICATE OF DEPOSIT

Fixed Rate Information - The interest rate on your account is fixed. You will be paid this rate until first maturity.

Variable Rate Information - The interest rate and annual percentage yield may change. Frequency of rate changes - On the first day of each crediting period, the interest rate on your 18-month Variable Rate Certificate of Deposit will be set to the interest rate in effect on the last day of the prior crediting period for a new 1-year Fixed Rate Certificate of Deposit and will be no less than the interest rate paid on our Passbook Savings Account on that date. On the first day of each crediting period, the interest rate on your 3-year Variable Rate Certificate of Deposit will be set to the interest rate in effect on the last day of the prior crediting period for a new 3-year Fixed Rate Certificate of Deposit and will be no less than the interest rate paid on our Passbook Savings Account on that date. For example, if the interest rate in effect on March 30 for a new 3- year Fixed Rate Certificate of Deposit is 3.00%, then the interest rate that you will earn on your 3-year Variable Rate Certificate of Deposit for the crediting period from April 1 through April 30 will be 3.00%.

You have the option to convert your Variable Rate Certificate to a Fixed Rate Certificate. The Fixed Rate Certificate must have a maturity date later than the maturity date of your Variable Rate Certificate. You may exercise this option only once, and you must do it within 6 months after the date you open your Certificate or your most recent renewal. To exercise this option, we must receive your written request to exercise this option, and we must also receive your Certificate or Certificate passbook in which we will record the new interest rate and maturity date.

Compounding frequency - Interest will be compounded every month.

Crediting frequency - Interest will be credited to your account every month and at maturity.

Minimum balance to open the account -

You must deposit $1,000.00 to open a Fixed Rate Certificate of Deposit or a Variable Rate Certificate of Deposit.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $1,000.00 in a Fixed Rate Certificate of Deposit or a Variable Rate Certificate of Deposit each day, to obtain the disclosed annual percentage yield.

For IRAs and other tax qualified plans - The minimum balance to obtain the annual percentage yield disclosed will be $10.00 for any account from which scheduled distributions are made as part of an IRA or other tax qualified plan.

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

Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Transaction limitations:

You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal. A penalty may be imposed.

You can only withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest any time during the term of crediting after it is credited to your account.

Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity) -

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. Other exceptions may also apply, for example, if this is part of an IRA or other tax-deferred savings plan.

For any time deposit which earns an interest rate that may vary from time to time during the term, the interest rate we will use to calculate this early withdrawal penalty will be the interest rate in effect at the time of the withdrawal.

Withdrawal of interest prior to maturity - The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.

Automatically renewable time account - This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within any grace period mentioned below) or we receive written notice from you within any grace period mentioned below. We can prevent renewal if we mail notice to you at least 30 calendar days before maturity. If this Certificate of Deposit is not renewed for any reason, the balance will be transferred to a Passbook Savings account and the rate will be the rate in effect on that account.

Unless we notify you otherwise, 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.

Grace Period - You will have ten calendar days after maturity to withdraw the funds without a penalty. You can also transfer the funds to a different type of Certificate of Deposit or to another account during this period. You can also deposit additional funds during this period.


YOUR ACCOUNT

These are the accounts you have opened or inquired about. Further details about these accounts are inside this brochure. If the figures are not filled in, please see the insert that is with this disclosure or your periodic statement.

BASIC CHECKING ACCOUNT FREE CHECKING ACCOUNT

RELATIONSHIP CHECKING ACCOUNT

NO HIDDEN FEE CHECKING ACCOUNT

These accounts do not earn interest.

CONNECTION CHECKING ACCOUNT

The interest rate for your account is _ _ _ _ _ _ _% with an annual percentage yield of _ _ _ _ _ _ _%.

NOW ACCOUNT

The interest rate for your account is _ _ _ _ _ _ _% with an annual percentage yield of _ _ _ _ _ _ _%

iSAVE ACCOUNT

Rate Information:

PASSBOOK SAVINGS ACCOUNT

The interest rate for your account is _ _ _ _ _ _ _% with an annual percentage yield of _ _ _ _ _ _ _%.

STATEMENT SAVINGS ACCOUNT

The interest rate for your account is _ _ _ _ _ _ _% with an annual percentage yield of _ _ _ _ _ _ _%.

ADVANTAGE SAVINGS ACCOUNT

Rate Information:

RELATIONSHIP SAVINGS ACCOUNT

Rate Information:

SPECIAL HIGH YIELD SAVINGS ACCOUNT

Rate Information:

eACCESS ACCOUNTS

Rate Information:

If you receive direct deposits to the checking account (with direct deposits no less frequently than monthly), 25 basis points (1/4%) will be added to the above annual percentage yields beginning with the date of your first direct deposit.

SPECIAL SELECT BANKING PACKAGE ACCOUNT

Rate Information:

If you receive direct deposits to the checking account (with direct deposits no less frequently than monthly), 25 basis points (1/4%) will be added to the above annual percentage yields beginning with the date of your first direct deposit.

MONEY MARKET MANAGEMENT ACCOUNT

(MONEY MARKET ACCOUNT)

Rate Information:

MONEY MARKET DEPOSIT ACCOUNT

The interest rate for your account is _ _ _ _ _ _ _% with an annual percentage yield of _ _ _ _ _ _ _%.

FIXED RATE CERTIFICATE OF DEPOSIT

The interest rate for your account is _ _ _ _ _ _ _% with an annual percentage yield of _ _ _ _ _ _ _%.

VARIABLE RATE CERTIFICATE OF DEPOSIT

The interest rate for your account is _ _ _ _ _ _ _% with an annual percentage yield of _ _ _ _ _ _ _%.

ECSB Rev. 8/14
4188083-020
© 1988, 1992, 1995 Wolters Kluwer Financial Services - Bankers Systems™
Form AIB-TIS 8/4/95 8d,9a Custom TCM-23t,2bd,3o,4t



Bill Payment Terms and Conditions

EAST CAMBRIDGE SAVINGS BANK

Online Banking & Bill Payment User Agreement

Online Banking User Agreement
Terms and Conditions

This Online Banking User Agreement (this "Agreement") is entered into by and between East Cambridge Savings Bank ("ECSB", "Bank", "FI", "us," "our", "we") and you, a current ECSB customer ("customer", " users", "me", "I"). This Agreement governs the terms of our consumer online banking service. To use this service you must maintain a valid email address and you must agree to accept this Agreement.

Terms and Conditions: I understand that all account holders have their own User Identification and Password that enable them to use this service. I am responsible for the confidentiality and use of the Password. I understand I may access those accounts where I am listed as the Tax Reported Owner or accounts where I am listed as a Non Tax Owner. Use of this service constitutes agreement to the terms and conditions set forth in East Cambridge Savings Bank's Electronic Funds Transfer Disclosure and any other disclosures, as amended from time to time that may relate to this service.

Fund Transfer Agreement: As used herein, "Bank" refers to East Cambridge Savings Bank and "Customer" means a natural or legal person using a personal computer (PC) or mobile device, and Password as an accepted access device to initiate funds transfer transactions. By use of the PC or mobile device, and Password, Customer agrees to abide by the following rules and regulations.

The Bank may revoke this agreement at any time for any reason with or without notice. Closing an account immediately terminates the funds transfer services associated with that account.

The Bank is hereby authorized to debit or credit the accounts, as requested by Customer using this service. Customer will maintain sufficient available balances at all times to cover all such debit transactions. Customer may not use any line of credit service to cover debit transactions.

Customer hereby requests the funds transfer service for the accounts requested. Customer understands they must be a Tax Reported for Owner or Non Tax Owner on all of the accounts requested to qualify for this service. Customer agrees to immediately notify the Bank of any change in Tax Identification Number.

Customer shall establish a Password before performing a funds transfer transaction. Customer shall at all times, (1) safely keep the Password and not permit any other person to use it, (2) not disclose the Password or otherwise make it available to any person, (3) use the Password as instructed and only for purposes authorized by the Bank, and (4) not permit any unauthorized use of the Password. If, at any time Customer believes the security of the Password has been or may be compromised, Customer shall change it as soon as possible. Customer acknowledges that neither the Bank nor it's employees has access to any Password.

These rules and regulations supplement all other agreements between Customer and Bank, and the rules and regulations there under.

Customer may terminate this service by submitting a request in writing to the Bank. Prior to submitting a request to terminate this service, Customer shall give advance notice of such request to all other authorized signers (if any), and shall indemnify the Bank against any or all claims made by any person arising from such termination. Termination of this service, whether by Customer or Bank, does not extinguish the rights and responsibilities of Customer and Bank with respect to events occurring prior to termination.

This agreement must be signed by an authorized signer of the accounts requested. The authorized signer shall be deemed a Customer under this agreement. The signer certifies that they have all necessary and proper authority to apply for and use this service. The obligation and liabilities reside with the authorized signer.

Transfers from Passbook Savings, Certificates of Deposits, and Individual Retirement Accounts are not permitted.

Loan payments for the exact amount due, principal reduction, and escrow will be accepted on all types of Real Estate and Consumer Loans. Payments to Commercial Loans and advances on Home Equity Lines of Credit will not be permitted.

I agree to be bound by the Truth In Savings Disclosure, Electronic Funds Transfer Disclosure, and other disclosures as amended from time to time and any other agreements between me with the Bank.

Online Bill Payment
Terms and Conditions

East Cambridge Savings Bank ("we", "our", "us", or "the Bank") offers a bill payment service ("the Service") which allows you to pay your bills using Online Banking. You must enroll in ECSB Online Banking to have access to use this service.

This Terms and Conditions Disclosure Statement (should this read User Agreement) and any other disclosures and amendments thereto provided to you set forth your rights and responsibilities in connection with the use of the Service and other services, and together constitute a legally binding contract. By using or applying to use the Service, you and all parties to your designated account agree to comply with the terms of these documents.

The Service is provided on behalf of the Bank by one or more service providers chosen by the Bank from time to time. These service providers may or may not be owned or operated by the Bank. You authorize us to use service providers to provide the Service.

Other Terms and Conditions: Other terms and conditions applicable to the Service, including but not limited to your liability for unauthorized use of your User ID and/or Password, our telephone number and address for notification in the event of authorized use, our business days and office hours, applicable service charges, stopping payments and error resolution procedures are set forth in other disclosures and amendments thereto provided to you.

Subscription to the Service: To use the Service, you must first complete an application. Only your East Cambridge Savings Bank NOW Account or checking account designated on your application (your "designated account") can be used for the Service. Subject to certain limitations, you may make payment to any party that agrees to accept payment through the Service. Please note that you may not make a payment for alimony, child support, taxes, or other governmental fees or court-directed payments through this Service. Once your application is processed, you will be sent an e-mail advising you that the service has been activated.

Security Procedure: To access the Service, you will be required to signon to Online Banking. The Service will ask for and verify your User Identification (User ID) and Password. You agree that this verification of your User ID and Password is a reasonable security procedure, and you agree to safeguard this information. Notify the Bank AT ONCE if you believe your User ID or Password has been stolen or has been or may be used without your permission, or if in any way the security of this information or your use of the Service may be compromised.

Payment Processing: Payees can only be individuals or companies within the United States. While most payees can be paid using the Service, we reserve the right to refuse to pay certain payees.

Bill payments may not be made in excess of $9,999.99 per item and $19,999.99 in total per day and may not exceed the available balance in the designated checking account.

You must designate a date for each payment you initiate. This date is called the Payment Date. For each payee, the Service will suggest a Payment Date in advance of the date the payment is actually due to the payee. This suggested date may depend on whether or not the payee has agreed to accept Automated Clearing House "ACH" credits as a means of payment. If you choose a Payment Date other than that suggested and your payment is late, you will be liable for that portion of any late fees and other expenses incurred which are attributable to your Payment Date choice. If the Payment Date is not a business day, the Payment Date will be the next business day after that date.

After you initiate a payment, the Service will provide you with a confirmation number which you should record in your check register. If the Service does not provide you with a confirmation number, you have not successfully initiated a payment.

All payments will be deducted from your designated checking account by ACH debits. Payments will be made to payees by ACH credits for those payees that agree to accept ACH credits as a means of payment. For payees that do not agree to accept ACH credits, payments will be made by checks mailed to the payees.

The date the payee considers the payment to be effective depends on the payee's payment processing procedures. The Bank will not be responsible for any delay in crediting the payment resulting from the payee's payment processing procedures.

Insufficient Funds: If there are insufficient funds in your designated checking account on the payment date to process a payment, you will be assessed an Insufficient Funds service charge as stated in our Schedule of Charges. If the payment is returned unpaid, the Service will then attempt to process the payment on the following business day unless payment was made to the payee via a check greater than or equal to $500.00; in this case a stop payment will be placed on the check. For all ACH payments and check payments less than $500.00 processed on the following business day that again have insufficient funds in your designated account and are returned unpaid, you will be assessed additional service charges. The Service will make no further attempts to process the payment.

If a payment has been processed for which funds were not available in your designated checking account, and we are unable to recover the amount of the payment by ACH debit to the payee or by charging your designated checking account or other accounts with us, you agree to reimburse us the funds owed to us immediately upon our demand. In such cases, your use of the Service will be suspended and any future scheduled payments will not be processed.

Stopping Payments: UNLESS OTHERWISE PROVIDED IN THIS DISCLOSURE, YOU MAY NOT STOP PAYMENT OF ELECTRONIC FUNDS TRANSFERS, INCLUDING ONLINE BILL PAYMENTS; THEREFORE, YOU SHOULD NOT EMPLOY ELECTRONIC ACCESS FOR PURCHASES OR SERVICES UNLESS YOU ARE SATISFIED THAT YOU WILL NOT NEED TO REQUEST A STOP PAYMENT.

Documentation of Payments: You will be sent a monthly statement covering all electronic bill payments from your designated NOW or checking account. For each payment, your statement will indicate the dollar amount, the calendar date, and the payee name.

E-Bill: E-Bill is an optional feature of the Bill Payment Service that enables you to receive bills electronically from participating Payees. Participating Payees have sole discretion to accept or decline your request. We do not participate in this decision.

By your activation of e-Bill, you authorize us to use the login information you have registered with any Payee, including your password, in order to retrieve bill information on your behalf. We take no responsibility if a Payee does not provide the necessary data to forward an e-Bill in a timely manner. If you do not receive a bill, it is your responsibility to contact the Payee directly. We are not responsible for any late charges or other adverse consequences. Any questions regarding your bill details should be directed to your Payee. Some Payees will turn off paper billing when you activate e-Bill; others will not. If you receive a bill both electronically and in paper format and you pay both bills, we will not be liable for crediting your account the overpayment. You must contact the Payee directly to resolve the issue. All parties have the right to cancel the service at any time. We will notify you if the Bank discontinues e-Bills.

Limitation of Our Liability: If you have followed the proper procedures for initiating payments but are assessed a penalty or a late charge by a payee because your payment is late, we will reimburse you for your losses, including late charges, to the extent required by law. HOWEVER, IF THE SERVICE HAS NOT PROVIDED YOU WITH A CONFIRMATION NUMBER OR IF YOU HAVE BEEN NOTIFIED OF OUR INABILITY OR REFUSAL TO PROCESS A PAYMENT, WE SHALL NOT BE LIABLE FOR ANY FAILURE TO PROCESS A PAYMENT, INCLUDING ANY FINANCE CHARGES OR LATE CHARGES.

IN THE EVENT THAT YOU DO NOT ADHERE TO YOUR OBLIGATIONS IN THIS AGREEMENT, OR YOU SCHEDULE A PAYMENT FEWER THAN THE NUMBER OF BUSINESS DAYS SUGGESTED, YOU WILL BEAR FULL RESPONSIBILITY FOR ANY AND ALL RESULTING PENALTIES, LATE CHARGES, AND DAMAGES, AND WE WILL NOT BE LIABLE FOR ANY SUCH AMOUNTS.

In addition to those exceptions listed above and any exceptions disclosed elsewhere, we will not be liable for failure to process a payment if:

  1. The Service is not working properly and you know or have been advised by us about the malfunction before you attempt to initiate a payment; or

  2. You have not provided the correct information for those payees to which you wish to make payment; or

  3. The payee mishandles or delays crediting a payment sent by us on your behalf.

Cancellation: We reserve the right to refuse to process any payment, but will promptly notify you of any such refusal.

If you wish to no longer use the Service, you must provide us with at least thirty days advance notice. Notice of termination must be in writing. You will be responsible for all payments initiated prior to termination and for all other fees and charges you incur. We reserve the right to suspend or terminate your use of the Service without prior notification to you.