Important Account Information & Disclosures

TERMS AND CONDITIONS OF YOUR ACCOUNT

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

When you open an account, we must ask you for your name, address, date of birth and other information that will identify you. We may also ask to see your driver's license or other identifying documents. We apologize for any inconvenience this may cause and appreciate your cooperation as we do our part to make the world safer for everyone.
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 lawregulates 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. Nothing in this document is intended to vary our duty to act in good faith and with ordinary care when required by law.
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 2 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. Unless prohibited by law, we also reserve the right to charge back to your account the amount of any item deposited to your account or cashed for you which was initially paid by the payor bank and which is later returned to us due to an allegedly forged, unauthorized or missing indorsement, claim of alteration, encoding error or other problem which in our judgment justifies reversal of credit. You authorize us to attempt to collect previously returned items without giving you notice, and in attempting to collect we may permit the payor bank to hold an item beyond the midnight deadline. 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. If you deliver a deposit to us and you will not be present when the deposit is counted, you must provide us an itemized list of the deposit (deposit slip). To process the deposit, we will verify and record the deposit, and credit the deposit to the account. If there are any discrepancies between the amounts shown on the itemized list of the deposit and the amount we determine to be the actual deposit, we will notify you of the discrepancy. You will be entitled to credit only for the actual deposit as determined by us, regardless of what is stated on the itemized deposit slip. 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 3 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. An item may be returned after the funds from the deposit of that item are made
available for withdrawal. In that case, we will reverse the credit of the item. 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.

A temporary debit authorization hold affects your account balance -
On debit card purchases, merchants may request a temporary hold on your account for a specified sum of money, which may be more than the actual amount of your purchase. When this happens, our processing system cannot determine that the amount of the hold exceeds the actual amount of your purchase. This temporary hold, and the amount charged to your account, will eventually be adjusted to the actual amount of your purchase, but it may be up to three days before the adjustment is made. Until the adjustment is made, the amount of funds in your account available for other transactions will be reduced by the amount of the temporary hold. If
another transaction is presented for payment in an amount greater than the funds left after the deduction of the temporary hold amount, that transaction will be a nonsufficient funds (NSF) transaction if we do not pay it or an overdraft transaction if we do pay it. You will be charged an NSF or overdraft fee according to our NSF or overdraft fee policy. You will be charged the fee even if you would have had sufficient funds in your account if the amount of the hold had been equal to the amount of your purchase.

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 4 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 demand 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 (18/65 ACCOUNTS) - Except as indicated in our Fee Schedule and as identified below, we do not intend to impose a fee, charge or other assessment against your savings or checking account 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. Notwithstanding this exemption, we may assess you a reasonable charge when payment has been refused because of insufficient funds on any check drawn on such account.

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.

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.

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. 5

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. 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.

TRANSFER LIMITATIONS - For savings and money market accounts you may make up to six transfers or withdrawals by means of a preauthorized, automatic, or telephonic transfer to another account of yours or to a third party or by check, debit card, or similar order to a third party during any calendar month (or statement cycle of at least four weeks). A preauthorized
transfer includes any arrangement with us to pay a third party from your account at (i) a predetermined time; (ii) on a fixed schedule or (iii) upon oral or written orders including orders received through the automated clearing house (ACH). If the transfer or withdrawal is initiated in person, by mail, or at an ATM then there is no limit on the number of payments that may be
made directly to you, directly to us for amounts you owe us, or transfers to other accounts you have with us. Withdrawals by phone are also unlimited if you are requesting that a check be mailed to you.

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. 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).

NOTICES - Any written notice you give us is effective when we actually receive it, and it must be given to us according to the specific delivery instructions provided elsewhere, if any. We must receive it in time to have a reasonable opportunity to act on it. If the notice is regarding a check or other item, you must give us sufficient information to be able to identify the check or item, including the precise check or item number, amount, date and payee. Written notice we give you is effective when it is deposited in the United States Mail with proper postage and addressed to your mailing address we have on file. Notice to any of you is notice to all of you.

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 6 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. In addition, if you receive or we make available either your items or images of your items, you must examine
them for any unauthorized or missing indorsements or any other problems. You agree that the time you have to examine your statement and items and report to us will depend on the circumstances. However, this time period shall not exceed 60 days. Failure to examine your statement and items and report any 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 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 any of you owe us now or in the future. If this account is owned by one or more of you as individuals, we may set off any funds in the account against a due and payable debt a partnership owes us now or in the future, to the extent of your liability as a partner for the partnership debt. If your debt arises from a
promissory note, then the amount of the due and payable debt will be the full amount we have demanded, as entitled under the terms of the note, and this amount may include any portion of the balance for which we have properly accelerated the due date.

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, or (d) setoff is prohibited by the Military Lending Act or its implementing regulations. We will not be liable for the dishonor of any check when the dishonor occurs because we set off a debt against this 7 account. You agree to hold us harmless from any claim arising as a result of our exercise of our right of setoff.

AUTHORIZED SIGNER (Individual Accounts only) - A single individual is the owner. The authorized signer is merely designated to conduct transactions on the owner’s behalf. The owner does not give up any rights to act on the account, and the authorized signer may not in any manner affect the rights of the owner or beneficiaries, if any, other than by withdrawing funds from the account. The owner is responsible for any transactions of the authorized signer. We undertake no obligation to monitor transactions to determine that they are on the owner’s behalf. The owner may terminate the authorization at any time, and the authorization is automatically terminated by the death of the owner. However, we may continue to honor the transactions of the authorized signer until: (a) we have received written notice or have actual knowledge of the termination of authority, and (b) we have a reasonable opportunity to act on that notice or knowledge. We may refuse to accept the designation of an authorized signer.

RESTRICTIVE LEGENDS OR INDORSEMENTS - The automated processing of the large volume of checks we receive prevents us from inspecting or looking for restrictive legends, restrictive indorsements or other special instructions 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.” The payee’s signature accompanied by the words “for deposit only” is an example of a restrictive indorsement. For this reason, we are not required to honor any restrictive legend or indorsement or other special instruction placed on checks you write unless we have agreed in writing to the restriction or instruction. Unless we have agreed in writing, we are not responsible for any losses, claims, damages, or expenses that result from your placement of these restrictions or instructions on your checks.

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.

RESERVE FOR TRANSACTION ACCOUNTS - This Account consists of a transaction sub account and a savings sub account. Funds not routinely needed to pay debits may be transferred to a savings sub account. We may periodically transfer funds between these two sub accounts. If your Account is a Plan on which interest is paid, your interest calculation will
remain the same. Otherwise, the savings sub account will be non interest bearing. The savings sub account will be governed by the rules governing our other savings accounts indicated within the Withdrawals Section of your Account Agreement. This process will not affect your available balance, the interest you may earn, FDIC insurance protection, your monthly statement, or any other features of this Account.

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 exercised ordinary care if our automated processing is consistent with general banking practice, even though we do not inspect each item. Because we do not inspect each item, if you write a check to multiple payees, we can properly pay the check regardless of the number of indorsements unless you notify us in writing that the check requires multiple indorsements. We must receive the notice in time for us to have a reasonable opportunity to act on it, and you must tell us the precise date of the check, amount, check number and payee. We are not responsible for any unauthorized signature or alteration that would 8 not be identified by a reasonable inspection of the item. 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.

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 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 11/2” of the “trailing edge” of a check. Indorsements must be made in blue or black ink, so that they are readable by automated check processing equipment.

As you look at the front of a check, the “trailing edge” is the left edge. Wheyou flip the check over, be sure to keep all indorsement information within 11/2” of that edge.
check.JPG

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 is adjudicated (determined by the appropriate official) incompetent. We may continue to honor your checks, items, and instructions until: (a) we know of your death or adjudication of 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 adjudication of incompetence for up to ten (10) days after your death or adjudication of 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. We are not responsible for the actions of a fiduciary, including the misuse of funds. 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 issue an electronic debit or 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, and 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).

Except for consumer electronic funds transfers subject to Regulation E, 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. If we offered you a commercially reasonable security procedure which you reject, you agree that you are responsible for any payment order, whether authorized or not, that we accept in compliance with an alternative security procedure that you have selected.

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.

MONITORING AND RECORDING TELEPHONE CALLS AND CONSENT TO RECEIVE COMMUNICATIONS - We may monitor or record phone calls for security reasons, to maintain a record and to ensure that you receive courteous and efficient service. You consent in advance to any such recording. We need not remind you of our recording before each phone conversation.

To provide you with the best possible service in our ongoing business relationship for your account we may need to contact you about your account from time to time by telephone, text messaging or email. However, we must first obtain your consent to contact you about your account because we must comply with the consumer protection provisions in the federal Telephone Consumer Protection Act of 1991 (TCPA), CAN-SPAM Act and their related federal regulations and orders issued by the Federal Communications Commission (FCC).

• Your consent is limited to this account, and as authorized by applicable law and regulations.
• Your consent does not authorize us to contact you for telemarketing purposes (unless you otherwise agreed elsewhere).

With the above understandings, you authorize us to contact you regarding this account throughout its existence using any telephone numbers or email addresses that you have previously provided to us or that you may subsequently provide to us.

This consent is regardless of whether the number we use to contact you is assigned to a landline, a paging service, a cellular wireless service, a specialized mobile radio service, other radio common carrier service or any other service for which you may be charged for the call. You further authorize us to contact you through the use of voice, voice mail and text
messaging, including the use of pre-recorded or artificial voice messages and an automated dialing device.

If necessary, you may change or remove any of the telephone numbers or email addresses at any time using any reasonable means to notify us. 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 11 funds) if it becomes subject to a claim adverse to (1) your own interest; (2) 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 - To the extent permitted by law, you waive any notice of non-payment, dishonor or protest regarding any items credited to or charged against your account. For example, if you deposit a check and it is returned unpaid or we receive a notice of nonpayment, we do not have to notify you unless required by federal Regulation CC or other law.

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. Credit entries may be made by ACH. 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.

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 checks paid first, by dollar amount - smallest to largest on the day they are processed. We process ACH transactions second, by dollar amount - smallest to largest on the day they are processed. We process POS/ATM transactions third, in the order they are received on the day they are processed.

If a check, item or 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). We will not charge you a fee for paying an overdraft of an ATM or everyday debit card transaction if this is a consumer account and you have not opted-in to that
service. 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.

PLEDGES - Each owner of this account may pledge all or any part of the
funds in it for any purpose to which we agree. Any pledge of this account
must first be satisfied before the rights of any surviving account owner or
account beneficiary become effective.

STALE-DATED CHECKS - We are not obligated to, but may at our option,
pay a check, other than a certified check, presented for payment more than
six months after its date. If you do not want us to pay a stale-dated check,
you must place a stop-payment order on the check in the manner we have
described elsewhere in this disclosure.

UNCLAIMED PROPERTY - The law establishes procedures under which
unclaimed property must be surrendered to the state. (We may have our
12 own rules regarding dormant accounts, and if we charge a fee for dormant
accounts it will be disclosed to you elsewhere.) Generally, the funds in your
account are considered unclaimed if you have not had any activity or
communication with us regarding your account over a period of three years.
Ask us if you want further information about the period of time or type of
activity that will prevent your account from being unclaimed. If your funds
are surrendered to the state, you may be able to reclaim them, but your
claim must be presented to the state. Once your funds are surrendered, we
no longer have any liability or responsibility with respect to the funds.

CASH TRANSACTION REPORTING - To help law enforcement agencies
detect illegal activities, the law requires all financial institutions to gather
and report information on some types of cash transactions. If the
information we need to complete the report is not provided, we are required
to refuse to handle the transactions.

LOST, DESTROYED, OR STOLEN CASHIER’S OR OFFICIAL CHECKS -
Under some circumstances you may be able to assert a claim for the
amount of a lost, destroyed, or stolen cashier’s or official check. To assert
the claim: (a) you must be the remitter (or drawer of a certified check) or
payee of the check, (b) we must receive notice from you describing the
check with reasonable certainty and asking for payment of the amount of
the check, (c) we must receive the notice in time for us to have a
reasonable opportunity to act on it, and (d) you must give us a declaration
(in a form we require) of your loss with respect to the check. You can ask
us for a declaration form. Even if all of these conditions are met, your claim
may not be immediately enforceable. We may pay the check until the
ninetieth day after the date of the check (or date of acceptance of a check).
Therefore, your claim is not enforceable until the ninetieth day after the
date of the check or date of acceptance, and the conditions listed above
have been met. If we have not already paid the check, on the day your
claim is enforceable we become obligated to pay you the amount of the
check. We will pay you in cash or issue another check.

At our option, we may pay you the amount of the check before your claim
becomes enforceable. However, we will require you to agree to indemnify
us for any losses we might suffer. This means that if the check is presented
after we pay your claim, and we pay the check, you are responsible to
cover our losses. We may require you to provide a surety bond to assure
that you can pay us if we suffer a loss.

BACKUP WITHHOLDING/TIN CERTIFICATION - Federal tax law requires
us to report interest payments we make to you of $10 or more in a year,
and to include your taxpayer identification number (TIN) on the report.
Interest includes dividends, interest and bonus payments for purposes of
this rule. Therefore, we require you to provide us with your TIN and to
certify that it is correct. The TIN is either a social security number (SSN) or
an employer identification number (EIN). For most organization or business
accounts other than sole proprietorships, the appropriate TIN is the EIN of
the organization or business entity. For sole proprietorships, either the SSN
or the EIN is appropriate. However, we must supply the IRS with both the
individual owner’s name and the business name of the sole proprietorship.
The appropriate TINs for various other types of accounts are:
Account type - TIN
Individual - SSN of the individual.
Joint Account - SSN of the owner named first on the account.
Uniform Gift/Transfer to Minor - SSN of the minor.
Informal (Revocable) Trust - SSN of the owner.
In some circumstances, federal law requires us to withhold and pay to the
IRS a percentage of the interest that is earned on funds in your accounts.
This is known as backup withholding. We will not have to withhold interest
payments when you open your account if you certify your TIN and certify
that you are not subject to backup withholding due to underreporting of
interest. We may subsequently be required to begin backup withholding if
the IRS informs us that you supplied an incorrect TIN or that you
underreported your interest income. If you do not have a TIN, we may defer
backup withholding if you certify that you do not have a TIN but have
applied for one. However, we must begin backup withholding if you do not
13 supply us with a certified TIN within 60 days. If you do not have a TIN
because you are a foreign person (either an individual who is a nonresident
alien or a foreign organization) you must certify your foreign status. If you
are an exempt payee (receiver of interest payments), you do not need to
certify your TIN, but you will have to certify your exempt status and supply
us with your TIN. The most common exempt payees are corporations,
organizations exempt from tax under Section 501(a), and an individual
retirement plan or a custodial account under Section 403(b)(7). If you do
not supply us with the appropriate TIN, we may refuse to open your
account.

CHANGING ACCOUNT PRODUCTS - We may change your account to
another product offered by us at any time by giving you notice that your
account will be changed to another product on a specified date. If your
account is a time account, the change will not occur before the next
maturity date of your account. If you do not close your account before the
date specified in the notice, we may change your account to that other
product on the date specified in the notice.

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. Receipts for such transactions will be mailed to you
only if a self-addressed stamped envelope is provided. Following your
deposit, examine your statement carefully or call us to ensure that we
received the item. Do not send cash through the mail for deposit. The Bank
can not be held liable if your deposit is lost via the normal US Postal mail
process. Transactions by mail are not tracked and are processed the same
day they are received at the bank.

TRUNCATION, SUBSTITUTE CHECKS, AND OTHER CHECK IMAGES -
If you truncate an original check and create a substitute check, or other
paper or electronic image of the original check, you warrant that no one will
be asked to make payment on the original check, a substitute check or any
other electronic or paper image, if the payment obligation relating to the
original check has already been paid. You also warrant that any substitute
check you create conforms to the legal requirements and generally
accepted specifications for substitute checks. You agree to retain the
original check in conformance with our internal policy for retaining original
checks. You agree to indemnify us for any loss we may incur as a result of
any truncated check transaction you initiate. We can refuse to accept
substitute checks that have not previously been warranted by a bank or
other financial institution in conformance with the Check 21 Act. Unless
specifically stated in a separate agreement between you and us, we do not
have to accept any other electronic or paper image of an original check.
—————————————
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.
—————————————
14
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:
• Preauthorized credits. You may make arrangements for certain
direct deposits (such as U.S. Treasury (Social Security)) to be
accepted into your checking or savings account(s).
• Preauthorized payments. You may make arrangements to pay
certain recurring bills from your checking or statement savings
account(s).
• Electronic check conversion. You may authorize a merchant or
other payee to make a one-time electronic payment from your
checking account using information from your check to pay for
purchases or pay bills.
• Electronic returned check charge. You may authorize a merchant
or other payee to initiate an electronic funds transfer to collect a
charge in the event a check is returned for insufficient funds.
Telephone Banking Transfers - types of transfers - You may access
your account by telephone 24 hours a day at 1-508-895-1900 using your
personal identification number, a touch tone phone, and your account
numbers, to:
transfer funds from checking to checking or statement savings or
money market
transfer funds from statement savings to checking or statement
savings or money market
transfer funds from money market to checking or statement savings
or money market
make payments from checking or statement savings or money
market to loan accounts with us
get information about:
- the account balance of checking, savings or money market
account(s)
- the last six deposits to checking, savings or money market
account(s)
- the last six withdrawals from checking, savings or money market
account(s)
Your Option to Limit Cash Withdrawals - In addition to dollar amount
limitations for withdrawals using your ATM card or debit card and/or code
that we may establish, you have the option to limit the amount of cash that
can be withdrawn by your ATM card or debit card and/or code to $50.00
per day or some other amount acceptable to us.
15
ATM Transfers - types of transfers and dollar limitations - You may
access your account(s) by ATM using your ATM card and personal
identification number (PIN) or debit card and personal identification number
(PIN), to:
make deposits to checking, statement savings or money market
account(s)
get cash withdrawals from checking, statement savings or money
market account(s)
- dollar limitations will be determined at card issuance
transfer funds from checking to checking, statement savings or
money market account(s)
transfer funds from statement savings to checking, statement savings
or money market account(s)
transfer funds from money market to checking or statement savings
or money market account(s)
get information about:
- the account balance of your checking, statement savings or money
market account(s)
Some of these services may not be available at all terminals.
Types of ATM Card Point-of-Sale Transactions - You may access your
checking, statement savings or money market 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 - Using your ATM card:
- You generally may withdraw up to $500 in cash and purchase up
to $500 in goods and services per day. To maintain the system,
we may reduce the daily cash/purchase limit in some
circumstances.
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 - dollar limitations - Using your Debit card:
- You generally may withdraw up to $500 in cash and purchase up
to $2,000 in goods and services per day. To maintain the system,
we may reduce the daily cash/purchase limit in some
circumstances.
Currency Conversion and International Transactions. When you use
your Debit Card at a merchant that settles in currency other than US
dollars, the charge will be converted into the US dollar amount. The
currency conversion rate used to determine the transaction amount in US
dollars is either a rate selected by Visa from the range of rates available in
wholesale currency markets for the applicable central processing date,
which rate may vary from the rate Visa itself receives, or the governmentmandated
rate in effect for the applicable central processing date. The
conversion rate in effect on the processing date may differ from the rate in
effect on the transaction date or posting date.
Visa USA charges us a .8% International Service Assessment on all
international transactions, regardless of whether there is a currency
conversion. If there is a currency conversion, the International Service
Assessment is 1% of the transaction. As a result, we charge you a 1%
international transaction fee on all international transactions regardless of
whether there is a currency conversion. An international transaction is a
transaction where the country of the merchant is outside the USA.
Advisory Against Illegal Use. You agree not to use your card(s) for illegal
gambling or other illegal purpose. Display of a payment card logo by, for
example, an online merchant does not necessarily mean that transactions
are lawful in all jurisdictions in which the cardholder may be located.
16
Non-Visa Debit Transaction Processing. We have enabled non-Visa
debit transaction processing. This means you may use your Debit Card on
a PIN-Debit Network* (a non-Visa network) without using a PIN.
The non-Visa debit network(s) for which such transactions are enabled are:
NYCE and MoneyPass Networks.
Examples of the types of actions that you may be required to make to initiate
a Visa transaction on your Debit Card include signing a receipt, providing a
card number over the phone or via the Internet, or swiping the card through a
point-of-sale terminal.
Examples of the types of actions you may be required to make to initiate a
transaction on a PIN-Debit Network include initiating a payment directly
with the biller (possibly via telephone, Internet, or kiosk locations),
responding to a logo displayed at a payment site and choosing to direct
payment through that network, and having your identity verified using
known information derived from an existing relationship with you instead of
through use of a PIN.
The provisions of your agreement with us relating only to Visa transactions
are not applicable to non-Visa transactions. For example, the additional
limits on liability (sometimes referred to as Visa’s zero-liability program) and
the streamlined error resolution procedures offered on Visa debit card
transactions are not applicable to transactions processed on a PIN-Debit
Network.
*Visa Rules generally define PIN-Debit Network as a non-Visa debit
network that typically authenticates transactions by use of a personal
identification number (PIN) but that is not generally known for having a card
program.
Internet & Mobile Banking - You may access your account(s) by
computer or Smart Phone 24 hours a day and using your password, to:
transfer funds from checking to checking, statement savings or money market
transfer funds from statement savings to checking, statement savings or money market
transfer funds from money market to checking, statement savings or money market
make payments from checking, statement savings or money market to loan account(s) with us
make payments from checking to third parties (available only via Internet)
deposit checks into checking, statement savings or money market (available only via Mobile Banking)
get information about:
- the account balance of checking, savings or money market account(s)
- the last 120 days of transactions for checking, savings or money market account(s)
Termination -
You may terminate the electronic fund transfer agreement by written notice to us.
We may terminate the electronic fund transfer agreement by written notice to you.
Minimum account balance -
We do not require you to maintain a minimum balance in any account
as a condition of using an access device (card or code) to
accomplish a transfer.
FEES
We do not charge for direct deposits to any type of account.
We do not charge for preauthorized payments from any type of account. Except as indicated elsewhere, we do not charge for these electronic fund transfers.17
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
• Terminal transfers. You can get a receipt at the time you make a
transfer to or from your account using an automated teller machine or
point-of-sale terminal. However, you may not get a receipt if the
amount of the transfer is $15 or less.
• 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 at (508) 895-1000 or 1-800-244-
7592 to find out whether or not the deposit has been made.
• Periodic statements.
You will get a monthly account statement from us for your
checking accounts.
You will get a monthly account statement from us for your
Statement, Passbook Savings or money market account, if the
account is set up to handle electronic transactions. In any case, you
will get a statement at least quarterly. If the account is a Passbook
Savings account and is not set up to handle electronic transactions,
your passbook will be updated upon presentation.
PREAUTHORIZED PAYMENTS
• 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 is how:
Call or write us at the telephone number or address listed in this
brochure in time for us to receive your request 3 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.
Please refer to our separate fee schedule for the amount we will
charge you for each stop-payment order you give.
• Notice of varying amounts. If these regular payments may vary in
amount, the person you are going to pay will tell you, 10 days before
each payment, when it will be made and how much it will be. (You
may choose instead to get this notice only when the payment would
differ by more than a certain amount from the previous payment, or
when the amount would fall outside certain limits that you set.)
• Liability for failure to stop payment of preauthorized transfer. If
you order us to stop one of these payments 3 business days or more
before the transfer is scheduled, and we do not do so, we will be
liable for your losses or damages.
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.
18
(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) if you give us your written permission (provided that such
permission shall expire after 45 days).
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.
• Generally. Tell us AT ONCE if you think your card and/or code has
been lost, stolen, used without your permission, or if you believe that an
electronic fund transfer has been made without your permission using
information from your check. Telephoning is the best way, if any, of
minimizing your possible losses. You can lose no more than $50 if you fail
to give us notice of your lost or stolen card and/or code and your card
and/or code is used without your permission.
• Additional Limit on Liability for Debit Card. Unless you have been
negligent or have engaged in fraud, you will not be liable for any
unauthorized transactions using your lost or stolen Debit Card. This
additional limit on liability does not apply to ATM transactions outside of the
U.S., to ATM transactions not sent over Visa or Plus networks, or to
transactions using your Personal Identification Number which are not
processed by VISA®. Visa is a registered trademark of Visa International
Service Association.
(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.
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 (5
business days for Debit Card point-of-sale transactions processed by Visa
and 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,
19
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 (5 business days for Debit Card
point-of-sale transactions processed by Visa and 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.
HARBORONE BANK
P.O. BOX 720
BROCKTON, MASSACHUSETTS 02303-0720
Business Days: Monday through Saturday
Business Hours: Monday through Friday 8:00 A.M. to 5:00 P.M.
Saturday 8:00 A.M. to 1:00 P.M.
Excluding Federal Holidays
Phone: (508) 895-1000 or 800-244-7592
MORE DETAILED INFORMATION IS AVAILABLE ON REQUEST
If your alleged error concerns a transaction to or from a third party (for
example, a Social Security payment) our investigation may be limited to a
review of our own records. If we decide that there was no error, you may
want to contact such third party to pursue the matter further.
—————————————
YOUR ABILITY TO WITHDRAW FUNDS
This policy statement applies to “transaction” accounts and savings
accounts. Transaction accounts, in general, are accounts which permit an
unlimited number of payments to third persons and an unlimited number of
telephone and preauthorized transfers to other accounts of yours with us.
Checking accounts are the most common transaction accounts. Feel free
to ask us whether any of your other accounts might also be under this
policy.
Our policy is to make funds from Cash, Payroll checks, state or local
government checks, Federal Home Loan Bank checks, Federal Reserve
checks, US Treasury Checks, Postal Money Orders, (provided the checks
are payable to you) and electronic direct deposits and Wire Transfers
available on the day we receive the deposit. Funds from all other check
deposits will be available to you by the first business day after the day we
receive your deposit.
Once the funds are available, you can withdraw them 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.
We will consider every day to be a business day except 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 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
20
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
Funds you deposit by check may be delayed for a longer period under
the following circumstances:
We believe a check you deposit will not be paid.
You deposit checks totaling more than $5,000 on any one day.
You redeposit a check that has been returned unpaid.
You have overdrawn your account repeatedly in the last six months.
There is an emergency, such as failure of computer or communications
equipment.
We will notify you if we delay your ability to withdraw funds for any of
these reasons, and we will tell you when the funds will be available. They
will generally be available no later than the seventh business day after the
day of your deposit.
SPECIAL RULES FOR NEW ACCOUNTS
If you are a new customer, the following special rules apply during the
first 30 days your account is open.
Funds from Cash, Wire Transfers and electronic direct deposits to your
account may be available on the day we receive the deposit. The first
$5,000 of a day's total deposits of checks (including Payroll checks, state
or local government checks, Federal Home Loan Bank checks, Federal
Reserve checks, US Treasury Checks, and Postal Money Orders) will be
available by the first business day after the day of your deposit if the
deposit meets certain conditions; for example, the checks must be payable
to you. The excess over $5,000 will be available by the ninth business day
after the day of your deposit.
Funds from all other check deposits will be available by the ninth
business day after the day of your deposit.
DEPOSITS MADE AT AN ATM
Deposits made at an ATM are subject to verification and will not be
available for immediate withdrawal. Cash and checks will be made
available by the second business day after the business day of the deposit.
Longer delays and Special Rules may apply. ATM deposits made after 5:30
P.M. or on a non-business day will be considered as deposited on the next
business day.
—————————————
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.
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
21
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:
HarborOne Bank
770 Oak Street
Brockton, MA 02303
(508) 895-1000
You must contact us within 40 calendar days of the date that we mailed (or
otherwise delivered by a means to which you agreed) the substitute check
in question or the account statement showing that the substitute check was
posted to your account, whichever is later. We will extend this time period if
you were not able to make a timely claim because of extraordinary
circumstances.
Your claim must include —
• A description of why you have suffered a loss (for example, you
think the amount withdrawn was incorrect);
• An estimate of the amount of your loss;
• An explanation of why the substitute check you received is
insufficient to confirm that you suffered a loss; and
• A copy of the substitute check or the following information to help
us identify the substitute check: the check number, the amount of
the check, the date of the check, and the name of the person to
whom you wrote the check.
—————————————
COMMON FEATURES
Please refer to the separate Truth-in-Savings disclosure for additional
terms and conditions regarding your account.
Please refer to our separate fee schedule for additional information about
charges and fees.

TRUTH-IN-SAVINGS DISCLOSURE

Checking Accounts

Advantage Gold 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 - Interest will be compounded every day. Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is paid, 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 $100.00 in the account each day to obtain the disclosed annual percentage yield.
Minimum balance to avoid imposition of fees - You must maintain a minimum average daily balance or a combined minimum average daily balance of $15,000.00 to avoid a maintenance service charge. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) to your account.

CheckIT Checking
Eligibility Requirements: You must meet the eligibility requirements in order to open and maintain this account.
  • You must be 15-21 years old, and, if less than 18 years old at the time of account opening, you must have your Parent or Guardian as a Joint Owner on your account.
  • You must provide a current and valid Student ID card.
  • At the 22nd birthday of the Student your account converts to a FreePlus Checking.
Minimum balance requirements: Minimum balance to open this account is $10.00.

FreePlus Checking

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

 
i Checking

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 - Interest will be compounded every month. Interest will be credited to your account every month. Alternately, you may choose to have interest paid to you or to another account every month rather than credited to this account.
Effect of closing an account - If you close your account before interest is paid, 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 $0.01 in the account each day to obtain the disclosed annual percentage yield.
Minimum balance to avoid imposition of fees - You must maintain a minimum average daily balance of $500.00 to avoid a maintenance service charge. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) to your account.
Eligibility requirements: You must meet the Eligibility Requirements each Qualification Cycle. Qualification Cycle means the period beginning the first day of the prior calendar month up to and including the last day of the prior calendar month.
  • Receive your account statement electronically AND
  • At least one direct deposit must post to your account OR
  • At least ten (10) debit card point of sale transactions must post and clear to your account.
If the Eligibility Requirements are not met for the Qualification Cycle, your account will be subject to our "Non-HarborOne ATM fee," if applicable, for that qualification cycle. HarborOne reserves the right to transfer this account to a non interest checking account if the Eligibility Requirements are not met for three (3) consecutive months. This account is available only for individuals; not for business or commercial purposes.

Money Smart Checking Account

Eligibility requirements: You must meet the eligibility requirements in order to open and maintain this account. To be eligible you must complete the Money Smart course at HarborOne U.
Minimum balance requirements: There is no minimum balance required to open this account.

The Works Checking Account

Eligibility requirements: You must meet the eligibility requirements in order to open and maintain this account. To be eligible you must be employed with a HarborOne Bank at Work Sponsored Company. You must have a direct deposit (post and clear) at least monthly into the account to maintain this account. If the Eligibility Requirements are not met, your account will be subject to our "Non-HarborOne ATM fee," if applicable. HarborOne reserves the right to transfer this account to a non interest checking account if eligibility requirements are not met.

Minimum balance requirements: There is no minimum balance required to open this account.

Money Market Accounts

Advantage Money Market 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 - Interest will be compounded every day. Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is paid, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $2,500.00 to open this account.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $2,500.00 in the account each day to obtain the disclosed annual percentage yield.
Minimum balance to avoid imposition of fees - You must maintain a minimum average daily balance of $1,000.00 to avoid a maintenance service charge. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you place noncash items (for example, checks) to your account.
Transaction limitations: During any calendar month, transfers from an Advantage Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or by check or similar order to third parties are limited to six per month (transactions that post and clear). If you exceed the transfer limitations, your account may be converted to a non-interest bearing checking account or an E-Transaction account.

I Money Market 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 $2,500.00 to open this account.
Minimum balance to avoid imposition of fees - You must maintain a minimum average daily balance of $1,000.00 to avoid a maintenance service charge. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
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.
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: During any calendar month, transfers from an I Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or by check or similar order to third parties are limited to six per month (transactions that post and clear). If you exceed the transfer limitations, your account may be converted to an E-Transaction account.

Investor Money Market 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 - 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 paid, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $2,500.00 to open this account.
Minimum balance to avoid imposition of fees - You must maintain a minimum average daily balance of $1,000.00 to avoid a maintenance service charge. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $2,500.00 in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) to your account.
Transaction limitations: During any calendar month, transfers from an Investor's Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or by check or similar order to third parties are limited to six per month (transactions that post and clear). If you exceed the transfer limitations, your account may be converted to a non-interest bearing checking account or an E-Transaction account.

 
Platinum Money Market 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 - 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 paid, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $25,000.00 to open this account.
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.
Minimum balance to avoid imposition of fees - You must maintain a minimum average daily balance of $25,000.00 to avoid a maintenance service charge. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
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 will begin to accrue on the business day you place noncash items (for example, checks) to your account.
Transaction limitations:  During any calendar month, transfers from a Platinum Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or by check or similar order to third parties are limited to six per month (transactions that post and clear). If you exceed the transfer limitations, your account may be converted to a non-interest bearing checking account.

 Savings Accounts

Savings Account (Statement/Passbook)
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 - Interest will be compounded every day. Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is paid, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $5.00 to open this account.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $25.00 in the account each day to obtain the disclosed annual percentage yield.
Minimum balance to avoid imposition of fees - You must maintain a minimum average daily balance of $200.00 or combined average daily balances of $2,000.00 to avoid a maintenance service charge. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) to your account.
Transaction limitations: During any calendar month, transfers from a Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or similar order to third parties are limited to six per month (transactions that post and clear). If you exceed the transfer limitations, your account may be converted to an E-Transaction account.

CheckIt Savings Account

Eligibility requirements: You must meet the eligibility requirements in order to open and maintain the HarborOne Student "CheckIT" Statement Savings account.
  • To be eligible, you must meet the eligibility requirements for the HarborOne Student "CheckIT" checking account and satisfactorily maintain that account.
  • If the eligibility requirements for your Student "CheckIT" Checking Account are not met, your Student "CheckIT" Savings account may be converted to a HarborOne 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 - Interest will be compounded every day. Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is paid, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $5.00 to open this account.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $25.00 in the account each day to obtain the disclosed annual percentage yield.
Minimum balance to avoid imposition of fees - There is no monthly maintenance fee on this account.
Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) to your account.
Transaction limitations: During any calendar month, transfers from a Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or similar order to third parties are limited to six per month (transactions that post and clear). If you exceed the transfer limitations, your account may be converted to an E-Transaction account.

Club Accounts (All Purpose & Holiday)

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 - 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 paid, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $1.00 to open this account.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $1.00 in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) to your account.
Transaction limitations: Withdrawals made from your account before the scheduled annual disbursement date are subject to an early withdrawal penalty. Please refer to our fee schedule for the Club Account Withdrawal Penalty.
During any calendar month, you may not make more than six withdrawals. If you exceed the transfer limitations set forth above, your account will be subject to closure by the bank.
Except for the annual distribution of funds, transfers to another bank account of yours or to a third party by means of a preauthorized, automatic, or computer transfer, telephonic order or instruction, or similar order are not allowed from this account.
Holiday Clubs - The balance in your account will be transferred to an account of your choice by November of each year.
All Purpose Clubs - At account opening, you designate when the account will end. Funds will be transferred to an account of your choice on that date.

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 - Interest will be compounded every day. Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is paid, you will not receive the accrued interest.
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 $25,000.00 in the account each day to obtain the disclosed annual percentage yield.
Minimum balance to avoid imposition of fees - You must maintain a minimum average daily balance of $200.00 or combined average daily balances of $2,000.00 to avoid a maintenance service charge. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) to your account.
Transaction limitations: During any calendar month, transfers from an I Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or similar order to third parties are limited to six per month (transactions that post and clear). If you exceed the transfer limitations, your account may be converted to a non-interest bearing checking account or an E-Transaction account.
Eligibility requirements: This account must receive eStatements. HarborOne reserves the right to transfer this account to a Statement Savings account if the monthly eStatement for the account has not been active for three (3) consecutive months. This account is available only for individuals; not for business or commercial purposes.

Money Smart Savings Accounts

Eligibility requirements: You must meet the eligibility requirements in order to open and maintain this account. To be eligible you must complete the Money Smart course at HarborOne U.
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 - Interest will be compounded every day. Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is paid, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $5.00 to open this account.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $0.01 in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) to your account.
Transaction limitations: During any calendar month, transfers from a Money Smart Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or similar order to third parties are limited to six per month (transactions that post and clear). If you exceed the limitations, your account may be converted to an E-Transaction account.

Certificate of Deposit

Rate Information - You will be paid the disclosed rate until first maturity.
Compounding frequency - Interest will be compounded every day.
Crediting frequency - Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is paid, you will receive the accrued interest up to closing date.
Minimum balance required to open this account - You must deposit $1,000.00 for a Regular CD and $500.00 for an IRA CD.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $0.01 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: You may not make any deposits into your account before maturity.
You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty.
You can only withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest anytime during the term of crediting after it is credited to your account.


Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity) -
  • If your account has an original maturity of less than one year:  The penalty we may impose will equal three months interest on the amount withdrawn subject to penalty.
  • If your account has an original maturity of one year but less than twenty four months: 
    The penalty we may impose will equal nine months interest on the amount withdrawn subject to penalty.
  • If your account has an original maturity of twenty four months but less than thirty six months: The penalty we may impose will equal twelve months interest on the amount withdrawn subject to penalty.
  • If your account has an original maturity of thirty six months or more: 
    The penalty we may impose will equal eighteen months interest on the amount withdrawn subject to penalty.
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 with a Required Minimum Distribution or other tax-deferred savings plan.
Withdrawal of interest prior to maturity - The annual percentage yield assumes that interest will remain on deposit until maturity. A withdrawal will reduce earnings.
Automatically renewable account - This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any) or we receive written notice from you within the grace period mentioned below, if any. If you prevent renewal, interest will not accrue after final maturity.
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 CD accounts on the maturity date which have the same term, minimum balance (if any) and other features as the original CD account. If we are not offering a CD with the term identical as your maturing term, we will renew your CD for one year at the current rate.
You will have ten calendar days after maturity to withdraw the funds without a penalty.

 
Bump Up Certificate

Bump Up Certificate Option Plan and Rate Information - The interest rate and annual percentage yield may change. We will not change the rate on your account during the term of the account. However, you have the option during the first term of this account to exchange this interest rate for a new interest rate. The new interest rate will be the interest rate we are then offering on a Bump Up account with the same term as the original term of this account. This exchange will be at no cost to you. If you make an exchange, the maturity date of this account will remain the same as originally scheduled. You may exercise this exchange option once during the first term, but not during any renewal term.
Compounding frequency - Interest will be compounded every day.
Crediting frequency - Interest will be credited to your account every month.
Minimum balance required to open this account - You must deposit $1,000.00 for a Regular CD and $500.00 for an IRA CD.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $0.01 in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you place noncash items (for example, checks) to your account.
Transaction limitations: You may not make any deposits into your account before maturity.
You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty.
You can only withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest anytime during the term of crediting after it is credited to your account.

Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity) -
  • If your account has an original maturity of less than one year:  The penalty we may impose will equal three months interest on the amount withdrawn subject to penalty.
  • If your account has an original maturity of one year but less than twenty four months: The penalty we may impose will equal nine months interest on the amount withdrawn subject to penalty.
  • If your account has an original maturity of twenty four months but less than thirty six months: The penalty we may impose will equal twelve months interest on the amount withdrawn subject to penalty.
  • If your account has an original maturity of thirty six months or more: The penalty we may impose will equal eighteen months interest on the amount withdrawn subject to penalty.

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 with a Required Minimum Distribution or other tax-deferred savings plan.
For any account 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 that interest will remain on deposit until maturity. A withdrawal will reduce earnings.
Automatically renewable account - This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any) or we receive written notice from you within the grace period mentioned below, if any. We can prevent renewal if we mail notice to you at least 30 calendar days before maturity. If either you or we prevent renewal, interest will not accrue after final maturity.
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 CD accounts on the maturity date which have the same term, minimum balance (if any) and other features as the original CD account. If we are not offering a CD with the term identical as your maturing term, we will renew your CD for one year at the current rate.
You will have a grace period of ten calendar days after maturity to withdraw the funds without being charged an early withdrawal penalty.

Further details about these accounts are located in the “Understanding Your Deposit Account” brochure. 



 
 REV05-17