Funds Transfer Disclosure

The purpose of this Disclosure Statement is to make you aware of your rights and responsibilities when using our Electronic Funds Transfer Services.

Services Offered

• If you specifically authorize us to electronically accept deposits or honor withdrawals we will provide such services.
• Deposits. You can arrange to have certain recurring payments automatically deposited to your account. Examples of this service include the direct deposit of Social Security payments, other government payments and the direct deposit of your wages or salary.
• Withdrawals. You can arrange to have certain recurring withdrawals automatically paid from your account. One example of this is the payment of life insurance premiums.
• Transfers. You can arrange to transfer funds and make payments between your accounts at our bank by using a touch-tone telephone and personal identification number or a personal computer, user ID and password.
• Electronic Check Conversions. A transfer via ACH where a consumer has provided a check to enable the merchant or other payee to capture the routing, account and serial numbers to initiate the transfer. A payment made by a bill payer under a bill payment service available to a consumer via computer or other electronic means.

1. Consumer liability

• If you fail to report within sixty (60) days of the transmittal of your statement any unauthorized transfers that appear on the statement, your liability will not exceed:
• Whichever is less, $50.00 or the amount of unauthorized transfers that appear on the statement or that occur during the sixty- (60) day period plus...
• The amount of unauthorized transfers that occur after the sixty (60) days and before you notify us, if we can prove that we could have stopped someone from taking the money if you had told us in time.
• If a good reason, such as a long trip or a hospital stay, kept you from telling us, we will extend the time periods.

2. How to Notify Us

• If you believe that someone has transferred or may transfer money from your account without your permission, call: (609) 927-7722

3. Business Days

• Our business days are Monday through Friday. Holidays are not included.

4. Types of Automatic Transfers

• You may have deposits made to your Checking or Savings Accounts.
• You may have payments made from your Checking Account.
• You may transfer funds between your Checking and Savings Accounts.

5. Charges For Transfers

• There are no charges for these services at the present time, however we reserve the right to impose a service charge in the future. Notification of service charge will be given in advance.

6. Documentation of Transfers

• Preauthorized credits. If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call us to find out whether or not the deposit has been made.
• Periodic statements. You will get a monthly account statement.
• Passbook account where the only possible electronic fund transfers are preauthorized credits. If you bring your passbook to us, we will record any electronic deposits that were made to your account since the last time you brought in your passbook.

7. Stop payments and Notice of Varying Amounts

• Right to stop payment and procedure for doing so. If you have told us in advance to make regular payments out of your account you can stop any of these payments. Here's how: Call us or write us in time for us to receive your request three business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call. We will charge you our normal fee for each stop-payment order you give according to our current fee schedule.
• Notice of varying amounts. If these regular payments may vary in amount, the person you are going to pay should tell you, 10 days before each payment, when it will be made and how much it will be. If you wish to verify a preauthorized transfer, you may call us.

8. Liability for Failure to Stop Payment

• If you order us to stop one of these payments three business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

9. Account Information Disclosure

• We will disclose information to third parties about your account or the transfers you make: Where it is necessary for completing transfers.
  Or:
• In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant.
  Or:
• In order to comply with government agency or court orders. Or:
• If you give us your written permission.

10. Liability for Failure to Make Transfers

• 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 If, through no fault of ours, you do not have enough money in your account to make the transfer.
• If circumstances beyond our control, such as fire or flood, prevent the transfer, despite reasonable precautions that we have taken. There may be other exceptions stated in our agreement with you.

Change in Terms

We may change the terms of this agreement governing electronic fund transfers by giving you written notice of the change at least 21 days prior to the effective date of the change. However, if the change is made for security purposes we can make a change without giving you prior notice.

Error - Resolution Notice

In case of errors or questions about your Electronic Transfer:

• Telephone or write us immediately, at the phone number or address shown elsewhere in this disclosure, 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 you the FIRST statement on which the problem or error appeared.
  • (A) Tell us your name and account number (if any)
  • (B) 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
  • (C) 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 after we hear from you and will correct any errors promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is the 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.
• If we decide that there was no error, we will send you a written explanation within three business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation