Welcome to the Granite Branch!

Transcription

1 Welcome to the Granite Branch! Cape Ann Savings Bank 247 Main Street Lighting your way to a snug harbor GRANITE BRANCH IMPORTANT INFORMATION ABOUT THE BANK MERGER, CONVERSION AND YOUR ACCOUNTS

2 TABLE OF CONTENTS Welcome Letters from Bank Presidents... 1 Conversion & What You Need to Know... 3 Conversion Weekend... 5 Office Locations & Hours... 7 ATM Locations... 8 Full Banking Services... 9 Retail Loan Products Retail Deposit Products Business Banking Department Trust & Financial Services Department Fee Schedules If you require further information, please visit our website at capeannsavingsbank.com or call and ask the receptionist for assistance.

3 Welcome Letter from Cape Ann Savings Bank President & CEO Welcome Letter from Granite Savings Bank President & CEO Dear Granite Savings Bank Customers, Dear Granite Savings Bank Customers, Harold J. Rogers, II First and foremost, I would like to welcome you to the Cape Ann Savings Bank, which was established in Our main office is located at 109 Main Street, Gloucester, MA , and we presently have one branch located at 17 Beach Street, Manchester-by-the-Sea, MA We look forward to our consolidation with Granite Savings Bank, whereby Granite s main office located at 247 Main Street, Rockport, MA will become a full service branch of the Cape Ann Savings Bank and will be called the Granite Branch to memorialize the Bank s name. Cape Ann Savings Bank has assets totaling $477 million as of September 30, 2014, and our surplus as a percentage of total assets, as of September 30, 2014 was 24.29%, which was the highest of all Mutual Savings Banks in Massachusetts. Both Cape Ann and Granite have been sources of strength in our respective communities for many years, and therefore, we feel that the combination of the two banks will be very beneficial to both of our banks and communities. Customers of Granite Savings Bank will benefit from the consolidation by having a wider range of loan and deposit services available to them, including online banking, mobile banking, telephone banking, business banking, and trust and financial services. It is the intent of this booklet to provide you with valuable information concerning the activities that will take place over the weekend of January 17-19, 2015, as we go forward with our conversion and to provide you more information about the Cape Ann Savings Bank and our full range of products and services. I want to assure you that both Banks have worked very hard on this consolidation to ensure a smooth transition and to better serve you, our customers. Please do not hesitate to contact us at or visit our website at should you have any questions concerning the conversion or your account. Thank you, Very truly yours, This booklet will provide helpful information concerning activities that will take place over the weekend of January 17-19, 2015, as we complete our consolidation with Cape Ann Savings Bank. We have made every effort to insure that the conversion of our data processing, internet banking, bill payment services and debit card program will take place with a minimum of inconvenience. The booklet provides a guide with dates to keep you informed of the services that will be available during the conversion weekend. Granite Savings Bank has a rich tradition of providing loan and deposit services to our customers in Rockport and Cape Ann. We are very pleased to continue this tradition with Cape Ann Savings Bank. When we re-open on Tuesday, January 20, 2015, as a full-service branch of Cape Ann Savings Bank, you will be able to access new services including enhanced internet banking and bill payment, electronic statements and check images, mobile banking, telephone banking, convenient access to business lending, and trust and wealth management services. While some of our employees will be based in Gloucester, you will still see many of our Granite Savings employees in Rockport. Please do not hesitate to contact us at if you have any questions concerning this event. Thank you for your support and continued confidence in Granite Savings Bank. With our consolidation, two local well-known and well-capitalized banks have become one in order to better serve you in the coming years. Very truly yours, Norman Seppala Norman S. Seppala Harold J. Rogers, II President & Chief Executive Officer, Granite Savings Bank 1 President & Chief Executive Officer, Cape Ann Savings Bank 2

4 CONVERSION & WHAT YOU NEED TO KNOW: WHAT HAPPENS WITH MY ACCOUNTS? Conversion Day Monday, January 19, 2015 All Granite Savings Bank accounts will be converted to Cape Ann Savings Bank on Conversion Day, January 19, Please refer to the Conversion weekend timeline on page 6. Passbook Deposit Accounts All Passbook accounts will require a Cape Ann Savings Bank passbook to be issued. Please visit one of our office locations in Rockport, Gloucester, or Manchester-by-the-Sea to receive your new Passbook after January 19, Account Numbers The following Granite Savings Bank accounts will be assigned new Cape Ann Savings Bank account numbers: All Savings Account Products All NOW & Checking Account Products All Mortgage Loan Accounts All Home Equity Lines of Credit Loans* All Consumer Installment Loans All Automobile Loans *Notice: Home Equity Lines of Credit checks will NOT be issued new account numbers. New checks will not be mailed out for this product. Please continue to use your current Home Equity Line of Credit checks. ADDITIONAL INFORMATION YOU NEED TO KNOW: VISA Debit Cards & ATM Cards New Cape Ann Savings Bank VISA debit cards & ATM cards will be mailed out in early January, Instructions for activation and use will be included in the mailing. Please destroy your old Granite Savings Bank MasterCard debit cards or ATM cards after activating your new cards. Electronic / Direct Deposits & Withdrawals In the days following the conversion you will need to provide your new Cape Ann Savings Bank account numbers and Cape Ann Savings Bank Routing Number ( ) to any service providers or businesses that you are signed up with for this service. Online Banking & Bill Pay A letter will be sent out prior to the January 19, 2015 conversion date detailing how to use Cape Ann Savings Bank s Online Banking and Bill Pay system. For instructions please refer to this letter or go to Cape Ann Savings Bank s website, or call for assistance. Loan Payments As of Tuesday, January 20, 2015, loan payments will be made payable to Cape Ann Savings Bank. Payments will be accepted at the Cape Ann Savings Bank, Granite Branch, as well as any other Cape Ann Savings Bank office location. Replacement Documents for NOW Checking & Money Market Accounts Replacement documents with your new Cape Ann Savings Bank account number will be mailed out in early January, You may begin using your new documents on January 17, Please destroy any remaining, unused Granite Savings Bank checks as of that date. Certificate of Deposit & IRA Certificate Term Deposit Accounts All existing terms on Granite Savings Bank Certificates of Deposit and IRA Certificate Term Deposit Accounts will be honored. Upon maturity, please refer to Cape Ann Savings Bank s Certificates of Deposit and IRA products for renewal. 3 4

5 Thursday, January 15, 2015 at 12:00 pm: Outgoing Wire Transfers will be unavailable until Tuesday, January 20, Thursday, January 15, 2015 Monday, January 19, 2015: Exterior signage will be changed from Granite Savings Bank to Cape Ann Savings Bank, Granite Branch. Friday, January 16, 2015: Granite Savings Bank s customers will conduct business as usual until 4:00 pm (closing). Friday, January 16, 2015, at 12:00 pm: Your Granite Savings Bank MasterCard debit cards and ATM cards will no longer be active. Friday, January 16, 2015: You may activate your new Cape Ann Savings Bank VISA debit cards and ATM cards at any ATM, using the new PIN mailed to you. Note: To activate your new card and change the PIN, you must go to any Cape Ann Savings Bank ATM location or visit a Cape Ann Savings Bank office location (see office locations & hours, page 7). CONVERSION WEEKEND JANUARY 15-20, (Thursday) 16 (Friday) 17 (Saturday) 18 (Sunday) 19 (Monday) 20 (Tuesday) Outgoing Wire Transfers Unavailable until Tuesday Exterior Signs Changed Business As Usual 12:00 pm: Granite debit cards & ATM cards no longer active New VISA debit cards & ATM cards can be activated Granite closed for all business Granite closed for all business MARTIN LUTHER KING, JR. DAY CONVERSION DAY Both Banks Closed Friday 12:00 pm through Monday 10:00 am: o All newly issued VISA debit cards and ATM cards will have offline limits (see below) CAPE ANN SAVINGS BANK, GRANITE BRANCH OPENS Friday, January 16, Monday, January 19, 2015: Beginning at 12:00 pm on January 16, 2015, your Granite Savings Bank debit and ATM cards will no longer be active. From this point forward you must activate and begin using your newly issued Cape Ann Savings Bank debit and ATM cards. Please note that during conversion weekend, stand in off line limits will be in effect. This means that from 12:00 pm on Friday through approximately 10:00 am on Monday, you will have access to $250 per day, in cash, via ATM (pinned) transactions and $250 per day via debit card Point of Sale (credit) transactions. Once the conversion is complete and your new cards are online, your ATM cash limits will increase to $1,000 per day and your Point of Sale transactions will increase to $2,000 per day. Saturday, January 17, 2015: Granite Savings Bank will be closed for all business. Monday, January 19, 2015: Conversion date for all Granite Savings Bank accounts. Granite Savings Bank and Cape Ann Savings Bank are both closed this day in honor of Martin Luther King, Jr. Day. Tuesday, January 20, 2015, 8:00 am: Granite Savings Bank opens as Cape Ann Savings Bank, Granite Branch. Conversion is Complete. 5 6

6 Cape Ann GRANITE BRANCH OFFICE LOCATIONS & HOURS ATM LOCATIONS Main Office Main Street Entrance 109 Main Street, Gloucester Parking available, entrance off Main Street Main Office Main Street 109 Main Street, Gloucester (978) or 1 (888) MON TUE WED THU FRI SAT 8:30 am - 7:00 pm 8:30 am - 5:00 pm 8:30 am - 12:00 pm Walk-up Window MON-FRI 8:00 am - 8:30 am Main Office Rogers Street 38 Rogers Street, Gloucester (978) MON TUE WED THU FRI SAT 8:30 am - 7:00 pm 8:30 am - 5:00 pm 8:30 am - 12:00 pm Cape Ann Savings Bank GRANITE BRANCH Main Office Rogers Street Entrance 38 Rogers Street, Gloucester Parking available, entrance off Rogers Street Granite Branch 247 Main Street, Rockport Drive-Thru ATM Manchester Branch 17 Beach Street, Manchester-by-the-Sea Parking available Magnolia 14 Lexington Avenue, Magnolia ATM Service Only Savings Bank Blackburn Industrial Park 1 Blackburn Center, Gloucester ATM Service Only Manchester Branch 17 Beach Street, Manchester-by-the-Sea MON TUE WED THU FRI SAT Granite Branch 247 Main Street, Rockport (978) (978) :30 am - 6:00 pm 8:30 am - 5:00 pm 8:30 am - 12:00 pm MON 8:00 am - 4:00 pm TUE 8:00 am - 4:00 pm WED 8:00 am - 4:00 pm THU 8:00 am - 7:00 pm FRI 8:00 am - 5:00 pm SAT 8:00 am - 12:00 pm Drive-Thru Teller Open Same Hours CASH DISPENSE ONLY ATM S: Braga Management Building 132 Washington Street, Gloucester Lanesville Package Store 1080 Washington Street, Lanesville American Legion Post 113 of Manchester 14 Church Street, Manchester-by-the-Sea Members & Guests Only Whistlestop Mall Railroad Avenue, Rockport Bearskin Neck 2 Old Harbor Road, Rockport Rockport Market 21 Broadway, Rockport HOLIDAYS CLOSED TELEPHONE BANKING Elks at Bass Rocks New Years Day, Martin Luther King, Jr. Day, President s Day, Memorial Day, 97 Atlantic Road, Gloucester (978) or Independence Day, Labor Day, Columbus Day, Veteran s Day, Thanksgiving Members & Guests Only 1 (866) Day, Christmas Day 8

7 FULL BANKING SERVICES NOW Accounts VISA Debit Cards ATM Cards Savings Accounts Business Accounts Business Lending Mortgage Loans Home Improvement Loans Home Equity Lines of Credit Automobile Loans Personal Loans Retirement Accounts Certificates of Deposit OTHER SERVICES Online Banking & Bill Pay estatements Mobile Banking Telephone Banking Coin Counting Machine Automated Teller Machines Safe Deposit Boxes Traveler s Checks Treasurer s Checks Money Orders Wire Transfers Night Depository ACH Direct Deposit Cape Ann Savings Trust & Financial Services Department A Department of Cape Ann Savings Bank - Investments purchased through the Cape Ann Savings Trust & Financial Services Department are not FDIC insured, not Bank guaranteed and may lose principal value. Saving Makes Cents Elementary School Program RETAIL LOAN PRODUCTS MORTGAGE LOANS When you are looking for mortgage banking services, it pays to choose a provider who will have your best interests in mind. At Cape Ann Savings Bank we understand that our customers have unique needs and goals with regard to home ownership and property ownership. That is why we offer a choice of mortgage loans and other loan products so everyone who chooses us for mortgage banking services in Cape Ann can get the financing they need at terms that work for them. It s easy to apply online at Mortgage Loan Products: Adjustable Rate Mortgage Loans In House Fixed Rate Mortgage Loans Construction Loans First Time Home Buyer Program Reverse Mortgage Loans Equity Loans: Home Equity Loans Home Equity Lines of Credit We employ a staff of mortgage specialists who are on hand to answer your questions and who can work with you to find a mortgage or loan option that makes you feeling confident and satisfied. CONSUMER LOANS Automobile Loans Personal Loans Passbook Loans Call to speak to one of our Loan Officers for further information about our loan products, terms, and to get our current loan rates. 9 10

8 RETAIL DEPOSIT PRODUCTS Cape Ann Savings Bank offers a variety of deposit products to fit your needs. For additional information and to see our current rates, please visit our website or call PASSBOOK SAVINGS ACCOUNT* $10 minimum to open $10 minimum balance to earn interest No monthly fees No withdrawal or deposit fees Direct deposit available STATEMENT SAVINGS ACCOUNT* $10 minimum to open $10 minimum balance to earn interest No monthly fees No withdrawal or deposit fees Direct deposit available estatements available through Online Banking ATM card available. See fee schedule. (optional) MONEY MARKET DEPOSIT ACCOUNT* $1,000 minimum to open If balance falls below $1,000, interest rate reverts to the current NOW Account rate. estatements available FREE through Online Banking Limit of 6 checks or transfers per month at no less than $250 each ATM/VISA debit card available. See fee schedule. (optional) CHRISTMAS CLUB ACCOUNT* No minimum to open $10 minimum balance to earn interest No monthly fees Receive your Christmas Club check in mid-october. CERTIFICATES OF DEPOSIT ACCOUNTS** Competitive interest rates Terms from 6 months to 4 years A ¼% more interest for CDs of $50,000 or greater with terms from 1 to 4 years ONLINE BANKING & BILL PAY FREE Online Banking Account balances and history accessed online. Transfer money from one Cape Ann Savings Bank account to another. (Transfers available to and from: NOW, Statement Savings, and Money Market Accounts. Rules may apply. Refer to account descriptions.) FREE Bill Pay Pay anyone you normally pay by check, change, edit, or stop pending payments, and manage all your payments from one location *This account is a variable rate account. The interest rate may change after the account is opened. IRA ACCOUNTS Traditional, Roth, SEP IRA s IRA Savings Account available* Terms from 6 months to 4 years. A ¼% more interest for IRA CDs of $50,000 or greater with terms from 1 to 4 years. Note: Any fee(s) assessed could reduce earnings on such an account. NOW ACCOUNTS* $10 minimum to open $10 minimum balance to earn interest No monthly service charge Unlimited check writing No per-check charges Direct deposit and electronic fund transfers available Check imaging for easier storage estatements available FREE through Online Banking Nominal fee for checks ordered Free basic checks for customers under 18 and over 65 years of age VISA debit card available. See fee schedule. (optional) VISA DEBIT CARD No fees for use at any Cape Ann Savings Bank ATM location Access to ATMs 24 hours a day / 7 days a week (fees may apply) Use your card at any ATM with the NYCE or Cirrus Logo (fees may apply) Cape Ann Savings Banks is a member of the SUM Network. Use your card at no charge at any machine displaying the SUM logo. Use your VISA debit card anywhere VISA is accepted worldwide (Please notify us when travelling.) Purchases made with your VISA debit card are deducted directly from your corresponding account. $1,000 per day limit on ATM (pinned) transactions $2,000 per day limit on POS (signature based) transactions Temporary limit increases available for larger purchases (For security purposes please visit our ATM coordinator for prior approval.) ATM CARD No fees for use at any Cape Ann Savings Bank ATM location Access to ATMs 24 hours a day / 7 days a week (fees may apply) Use your card at any ATM with the NYCE or Cirrus Logo (fees may apply) $1,000 per day limit on ATM (pinned) transactions Cape Ann Savings Banks is a member of the SUM Network. Use your card at no charge at any machine displaying the SUM logo. *This account is a variable rate account. The interest rate may change after the account is opened. **A penalty may be assessed for early withdrawals

9 BUSINESS BANKING DEPARTMENT TRUST & FINANCIAL SERVICES DEPARTMENT Why choose Cape Ann Savings Bank for your business banking needs? Cape Ann Savings Bank has been serving the Cape Ann area since We work hard to be sure you will find all the accounts and services needed in managing your business. Cape Ann Savings Bank s experienced Business Banking Team provides the quality service in growing business relationships. Whether you are running a commercial business, investing in industrial property, or managing a small business, we have the products and services for you. Engrained in the community, Cape Ann Savings Bank prides itself on local decision making, accessibility, fast turnaround, and offers a variety of business services to meet all your needs. BUSINESS DEPOSIT PRODUCTS & SERVICES: Business Checking Business Savings Account Business Sole Proprietor Checking Business Money Market / Non-Profit Checking Business Internet Banking ATM / Debit Card (optional) Merchant Services Cape Ann Savings Bank offers its business account holders the ease of online banking. Business clients can check account balances and make transfers between accounts. Business Internet Banking also allows Bill Pay and ACH origination (subject to approval). Several security layers are available allowing multiple users with varying security access. BUSINESS LOAN PRODUCTS: Business Lines of Credit Business Term Loans Construction Loans Commercial Real Estate Mortgages Industrial Use Loans U.S. Small Business Administration Participating Lender Cape Ann Savings Bank is an accredited Small Business Administration Lender (SBA). There are a variety of SBA-structured loans available. Let our lending team help you choose the appropriate one. Capital Access Program Cape Ann Savings Bank is proud to participate in the Massachusetts Business Development Corporation s Capital Access Program SM (CAP). Our business banking team will help to see if the CAP program fits your business needs. The Trust & Financial Services Department of the Cape Ann Savings Bank was founded in 1986 when the Bank was granted fiduciary powers by the Commonwealth of Massachusetts. The Department now manages nearly $300 million dollars in client assets, held in trust, in retirement accounts, and investment accounts. A fiduciary is one who holds a fiduciary duty to another. A fiduciary duty is the duty of utmost loyalty in which one party (the fiduciary) must put the interests of the beneficiary of that duty ahead of its own. For example, fiduciary duty is the duty will executors owe to will beneficiaries. A fiduciary duty is the duty trustees of trusts owe the beneficiaries of trusts. What does this mean? This means that for all customers of the Granite Savings Bank there is a Department designed to help them cut through the noise and jargon of the investment and estate planning world. Too often these important and intimidating topics are neglected because potential customers feel lost in a fast moving financial world where even the experts can seem confused. If you need help with: Estate planning (Wills and Trusts) Retirement planning Investments Financial planning Schedule an appointment with a Trust Officer by calling Consultations are always free. There is never obligation to buy or invest in anything. It is your opportunity to talk with a banker with expertise in solving complicated personal finance problems. It all starts with a conversation. A DEPARTMENT OF CAPE ANN SAVINGS BANK CONTACT ONE OF OUR BUSINESS LENDING TEAM MEMBERS TODAY. Robert J. Gillis, Jr., Senior Vice President Investments purchased through the Cape Ann Savings Trust & Financial Leo E. Bergeron, V.P. / Commercial Loan Officer Services Department are not FDIC insured, not FDIC guaranteed, not 13 Michael J. Luster, V.P. / Commercial Loan Officer bank guaranteed and may lose principal value. 14

10 CAPE ANN SAVINGS BANK FEE SCHEDULES GENERAL FEES Abandoned Property Fee $50 Account Research (per hour or any part thereof) $30 ATM Fees* ATM Debit Card Replacement $10 Balance Inquiries $0.50 Point of Sale (POS) Transactions ATM Service Charge $1 Withdrawals at Non-CASB ATMs Terminal Surcharge $1 Collection Items $15 Counter Checks (per check) $1 Deposited Item Return Unpaid** IRA Annual Maintenance Fees IRA/SEPS $15 KEOGH $35 EXIT FEE $35 Lost Passbook $10 Money Order $2 Stop Payment $20 Photocopy $15 Notice of Levy $50 Photocopy of Statement $5 Reconciliation Fee (per hour or any part thereof) $25 Charge to Return Check $25 ACH Insufficient Funds Charge to Return Check $25 Stop Payment $10 Traveler s Checks (per $100) $2 Treasurer s Check $4 Wire Transfers Incoming $15 Outgoing Domestic $30 BUSINESS ACCOUNT GENERAL FEES ATM/Debit Card Replacement $15 Copy of Account Statement $7 Copy of Check $7 Deposited Item Returned Unpaid $10 Charge to Return Check $30 Research (per hour) $30 Stop Payment $25 Telephone Transfer $5 Treasurer s Check $4 Wire Transfers Incoming $15 Outgoing Domestic $30 SAFE DEPOSIT BOX FEES (Check availability of size with your Branch Representative) BOX SIZE ANNUAL FEE 2 x 5 $40 3 x 5 $45 5 x 5 $65 3 x 10 $80 5 x 10 $ x 10 $175 Replacement Key $25 Drill Box $200 Contents of safe deposit boxes are not FDIC or Bank insured. Note: Reduced charges may apply for account holders 65 years of age or older and account holders 18 years of age or younger. *No charge for Cape Ann Savings Bank customers using a Cape Ann Savings Bank ATM. **Subject to MA REG 167D SEC 3 CHAP 171 SEC 41A 15 16

11 capeannsavingsbank.com Member FDIC - Member DIF - Equal Housing Lender