TIAA-CREF TRUST COMPANY, FSB DEPOSIT ACCOUNT HANDBOOK

Transcription

1 TIAA-CREF TRUST COMPANY, FSB DEPOSIT ACCOUNT HANDBOOK

2 Table of Contents Account Terms and Conditions Page Terms and Conditions of Your Account 1 o Agreement 1 o Account Eligibility 2 o Deposits 3 o Withdrawals 4 o Overdrafts 4 o Transfer Limitations 6 o Early W ithdrawal Penalties 6 o Stop Payments 7 o Ownership Types 8 o Arbitration 11 Account Disclosures Electronic Fund Transfers 13 Your Ability to Withdraw Funds 17 Substitute Checks and Your Rights 18 Truth-In-Savings Disclosures 19 o Interest Checking 19 o High Yield Savings 20 o Money Market Account 20 o Certificate of Deposit 21 Remote Deposit Service Terms and Conditions 22 Mobile Banking Service Terms and Conditions 25 Bill Payment Service Terms and Conditions 30 Your Deposit Rate Disclosure and Fee Schedule are provided as separate documents. Please review and retain these documents for your records. TERMS AND CONDITIONS OF YOUR ACCOUNT 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. If you sign the signature card or open or continue to use the account, you agree to these rules. Separate schedules of 1

3 rates, qualifying balances, and fees are included with this document. If you have any questions, please call us. This agreement is subject to applicable federal laws and the laws of the state of Missouri (except to the extent that this agreement can and does vary such rules or laws). The body of state and federal law that governs our relationship with you, however, is too large and complex to be reproduced here. The purpose of this document is to: (1) summarize some laws that apply to common transactions; (2) establish rules to cover transactions or events which the law does not regulate; (3) establish rules for certain transactions or events which the law regulates but permits variation by agreement; and (4) give you disclosures of some of our policies to which you may be entitled or in which you may be interested. If any provision of this document is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect. We may permit some variations from our standard agreement, but we must agree to any variation in writing for your account or in some other document. As used in this document the words we, our, and us mean TIAA-CREF Trust Company, FSB 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. 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. CONSUMER REPORTS/INFORMATION REPORTING - You agree that in connection with your application for Deposit Accounts, we are permitted to obtain information about you from one or more consumer reporting agencies. You further agree that we are permitted to obtain additional consumer reports from time to time in connection with maintaining, reviewing, or collecting on your Deposit Accounts. We may report your performance under this Agreement to consumer reporting agencies and others, to the fullest extent permitted by law. ACCOUNT ELIGIBILITY - Our accounts are available to U.S. citizens and permanent resident aliens of the 50 United States and the District of Columbia who are at least eighteen (18) years old, who have a valid tax identification number and who agree to use the account only for personal and/or household purposes. We reserve the right to limit the number of accounts that you may establish with us and/or the amount of funds that you maintain in your account(s). We also reserve the right to decline to open an account for you, even if you have one or more existing accounts with us at the time, or had one or more accounts with us in the past. OPENING A CERTIFICATE OF DEPOSIT - If you apply for a Certificate of Deposit and your application is approved, the account will not be fully opened until your qualifying initial deposit is received and processed by us. This means that certain information about your new certificate of deposit, for example the interest rate, annual percentage yield and maturity date, will not be determined and confirmation thereof provided to you until the account is fully open. 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 accompanying schedule of charges. You authorize us to deduct these charges 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. 2

4 Each of you also agrees to be jointly and severally (individually) liable for any account shortage resulting from charges or overdrafts, whether caused by you or another with access to this account. This liability is due immediately, and can be deducted directly from the account balance whenever sufficient funds are available. You have no right to defer payment of this liability, and you are liable regardless of whether you signed the item or benefited from the charge or overdraft. You will also be liable for our costs to collect the deficit 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 including, but 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. DEPOSITS - You agree to present for deposit only items that are originally made payable to you and that we may return any item presented for deposit that is made payable to anyone other than you regardless of its endorsement. 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 endorsement or lack of endorsement 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. We are not responsible for transactions by mail or outside depository until we actually record them. We will treat and record all transactions received after our daily cutoff time on a business day we are open, or received on a day we are not open for business, as if initiated on the next business day that we are open. At our option, we may take an item for collection rather than for deposit. We do not accept deposits in foreign currency. ENDORSEMENTS - We may accept for deposit any item payable to you or your order, even if they are not endorsed by you. We may give cash back to any one of you. We may supply any missing endorsement(s) for any item we accept for deposit or collection, and you warrant that all endorsements are genuine. DEPOSIT DELIVERY AND PREPARATION - You may deliver deposits through various methods. The method and time of delivery determines when you receive credit for the deposit. If we credit your account for the amount shown on the deposit slip, the credit is subject to our subsequent verification, and our determination of the amount of your deposit is final and binding. You agree to prepare your deposit in accordance with our instructions which may include the use of an approved deposit envelope and deposit ticket, if required. You authorize us to open the deposit envelope in your absence and credit the contents to your account. We may treat the contents of the deposit envelope as not accepted for deposit until we have verified the contents. If your deposit includes items that we do not accept for deposit, we may return them to you. DIRECT DEPOSITS - If, in connection with a direct deposit plan, we deposit any amount in an account which should have been returned to the Federal Government for any reason, 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. TRANSACTIONS BY MAIL - You may deposit checks by mail. You should endorse 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 deposit slips found behind your checks in your checkbook if you have one. If you do not use your deposit slip or otherwise 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. We will not provide receipts for deposits that are mailed to us. We may charge you an account research fee for deposits made without a properly completed deposit slip. Following your deposit, examine your statement carefully or call us to ensure that we received the item. Do not send 3

5 cash through the mail for deposit. RETURNED ITEMS - If an item that is credited to your account is returned to us at any time for any reason by the bank on which it is drawn or by any collecting bank, you agree that we may accept that return and charge the item against your account without regard to whether the other bank had paid or returned the item in accordance with any applicable deadline or rule. You agree that we may debit your account for any interest that may have been calculated or paid on the item and that we may charge you a fee for the returned item in accordance with the account fee schedule. We may debit the returned item on the earlier of the business day it is returned to us or the business day that we receive notice that the item is being returned to us. In some cases the bank on which a returned item is drawn may send us an electronic notice of return, an indemnified copy of the original, or an image replacement document, rather than the original item. You agree that we may act on, and that you are bound by, these just as if the original item had been returned. You agree that we are not obligated to take any action or inaction to recover payment for an item that is returned to us. If there are not sufficient funds in your account to cover a returned item, we may overdraw your account and charge you a fee. We will not be liable if debiting a returned item to your account results in insufficient funds to cover any other items that may be presented for payment. You agree to immediately repay any overdraft caused by a returned item. WITHDRAWALS - 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 endorse any item payable to you or your order for deposit to this account or any other transaction with us. We may refuse any withdrawal or transfer request which you attempt on forms not approved by us, by any method we do not specifically permit, which is greater in number than the frequency permitted, or which is for an amount greater or less than any withdrawal limitations. We may refuse or delay any withdrawal or transfer request which appears to us to be illegal, fraudulent or that presents undue risk of damage to us. Even if we honor a nonconforming request, we may treat continued abuse of the stated limitations (if any) as your act of closing the account. We will use the date the transaction is completed by us (as opposed to the date you initiate it) to apply the frequency limitations. 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. We may require not less than seven (7) days notice in writing before each withdrawal from any savings account as defined by Regulation D. Additionally, withdrawals from a certificate of deposit prior to maturity or prior to any notice period may be restricted and may be subject to penalty. See the Your Ability to Withdraw Funds section below for information about when you can withdraw funds you deposit. OVERDRAFTS - When a transaction (for example a check or ATM withdrawal) is presented for payment against your account and its available balance is not sufficient to cover the transaction, one of three things will happen: The transaction may be declined and therefore not paid. We may choose to pay the transaction and create an overdraft negative balance in your account. Transactions that we may choose to pay include: checks, automated clearing house (ACH) transactions that we receive and/or automated payments that you originate using our bill pay service. We will not create an overdraft for ATM withdrawals or one-time debit card purchases. The fact that we may honor withdrawal requests that overdraw the available account balance does not obligate us to do so later. You agree that we may charge fees for overdrafts and use subsequent deposits, including direct deposits of social security or other government benefits, to cover such overdrafts and overdraft fees. You agree that if we honor a withdrawal request that creates a negative balance in your account, you will immediately repay the 4

6 negative amount. We may also charge a fee each time we create an overdraft. Please see the Fee Schedule for the amount of this fee. Funds, if available, may be swept into your checking account to cover the transaction if you have told us to use a different linked TIAA Direct deposit account for that purpose. See the Protecting Your Account From Overdrafts section. PROTECTING YOUR ACCOUNT FROM OVERDRAFTS - You can elect to protect your checking account from overdrafts by telling us to advance funds from a different deposit account that you have with us when a withdrawal transaction would otherwise be declined or create a negative balance in excess of ten dollars ($10.00) in your checking account if honored by us. Choosing to prevent an overdraft by using available funds from a different linked TIAA Direct deposit account may be less expensive than having a transaction declined or allowing us to create an overdraft in your account. If you choose this option, you authorize us to withdraw funds in increments of one hundred dollars ($100.00) from the account that you designate for this purpose and deposit those funds into your checking account. For example, if you need us to move one hundred and thirty-five dollars ($135.00) from the account that you have designated for overdraft protection into your checking account in order to avoid an overdraft, we will withdraw two hundred dollars ($200.00) from that account and deposit it into your checking account. You agree that if there is less than one hundred dollars ($100.00) or less than the necessary increment of one-hundred dollars in the account that you use for overdraft protection, we will not withdraw any amount and deposit it into your checking account for this purpose. For example, if you need us to move one hundred and thirty-five dollars ($135.00) from the account that you have designated for overdraft protection into your checking account in order to avoid an overdraft, and there is only one hundred and sixty-five dollars ($165.00) available in the account you have designated for this purpose, we will not withdraw any amount from that account even if there are sufficient funds available to cover the overdraft. PAYMENT ORDER OF ITEMS - The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. The payment order can affect the number of items overdrawn or returned unpaid and the amount of the fees you may have to pay. To assist you in managing your account, we are providing you with the following information regarding how we process those items. Our policy is to process electronic transactions, checks and similar items in the order in which they are received for the day on which they are processed. If a check, item or transaction (other than an ATM or everyday debit card transaction) is presented without sufficient funds in your account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item for insufficient funds (NSF). The amounts of the overdraft and NSF fees are disclosed in your fee schedule. TELEPHONE TRANSFERS - A telephone transfer of funds from one account to another account with us, if arranged for or permitted, may be made by the same persons and under the same conditions generally applicable to withdrawals made in writing. ACH AND WIRE TRANSFERS - This agreement is subject to Article 4A of the Uniform Commercial Code - Fund Transfers as adopted in the state in which you have your account with us. If you originate a fund transfer, and you identify by name and number a beneficiary financial institution, an intermediary financial institution or a beneficiary, we and every receiving or beneficiary financial institution may rely on the identifying number to make payment. We may rely on the number even if it identifies a financial institution, person or account other than the one named. You agree to be bound by automated clearing house association rules. These rules provide, among other things, that payments made to you, or originated by you, are provisional until final settlement is made through a Federal Reserve Bank or payment is otherwise made as provided in Article 4A-403(a) of the Uniform Commercial Code. If we do not receive such payment, we are entitled to a refund from you in the amount credited to your account and the party originating such payment will not be considered to have paid the amount so credited. If we receive a payment order to credit an account you have with us by wire or ACH, we are not required to give you any notice of the payment order or credit other than as is provided in your periodic statement. 5

7 ATM AND DEBIT CARDS - By opening a deposit account, other than a certificate of deposit, you are requesting that we provide either an ATM or a debit card for your use. You agree that any ATM or debit card that we provide to you remains the property of TIAA-CREF Trust Company, FSB and that we may at our discretion terminate your use of that card at any time. You agree that if we terminate your ability to use an ATM or debit card or if your account is closed, you will stop using the card and destroy it. CURRENCY CONVERSIONS AND CROSS-BORDER TRANSACTIONS - If you make a transaction using your Debit Card or ATM card in a currency other than U.S. Dollars, MasterCard will convert the charge into a U.S. Dollar amount. The MasterCard currency conversion procedure uses either a government-mandated exchange rate, or a wholesale exchange rate selected by MasterCard. The exchange rate MasterCard uses will be a rate in effect on the day the transaction is processed and may differ from the rate in effect on the date of purchase or the date the transaction was posted to your account. When you use your debit card or ATM card for a cross border transaction, whether or not it is necessary for MasterCard to make a currency conversion, we will charge you a fee. Please see the attached Fee Schedule for the amount of this fee. TRANSFER LIMITATIONS - W e are required by Federal regulations to limit certain transactions on our High Yield Savings and Money Market Accounts to no more than six (6) per statement cycle. These include 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, or similar order to a third party during any calendar month (or statement cycle of at least four weeks). Here are examples of the types of transactions that contribute to the six- transaction limit: Transfers to Interest Checking triggered by Overdraft Protection Transfers to another deposit account (e.g., checking) made online Transfers to another deposit account (e.g., checking) made via Mobile Banking Transfers to another deposit account (e.g., checking) made by phone Transfers to non-tiaa Direct accounts (i.e., accounts you own at another financial institution) made via the automated clearinghouse (ACH) or a wire transfer Pre-authorized or one-time withdrawals by a third party If you exceed the limit during any statement cycle, we will charge a fee for each transaction in excess of the limit. Please see the Fee Schedule. Additionally, if you exceed the limit, we may close your account or convert it to a checking account that is not subject to these transaction limits. You will be notified by mail if we close or convert your account. EARLY WITHDRAWAL PENALTIES (and involuntary withdrawals) - We may impose early withdrawal penalties on a withdrawal from a certificate of deposit 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 Truth in Savings Act Disclosure for additional information about early withdrawal penalties. POSTDATED, INCOMPLETE, OR CONDITIONAL CHECKS - You agree not to issue or present for deposit any postdated, incomplete, or restricted (for example a check with not valid for more than $500 written on it) checks. You agree that we are not liable for paying, refusing to pay, accepting for deposit, or rejecting and returning any check that is postdated, incomplete, or otherwise restricted. CHECK PROCESSING - We may process items mechanically by relying on the information encoded along the bottom of the items. This means that we may not individually examine all of your items to determine if the item is properly completed, signed and endorsed. You agree that we have not failed to exercise ordinary care solely because we use an automated system 6

8 to process items and do not inspect all items processed in such a manner. We reserve the right not to inspect each item because using an automated process helps us keep costs down for you and all account holders. 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. FACSIMILE SIGNATURE - If you create a draft against your account using a check writing service, a facsimile signature or any other method that does not result in your personal signature on the draft, you agree that you will maintain the security of any computer or other device by which a signature is affixed and that you are solely responsible for the risk of using any such service or device even if you are not negligent with regard to its use. You also agree that we may treat any draft that is presented for payment that includes a facsimile signature, even if it differs from any draft or signature that has been presented previously, as if it includes your personal signature. You agree to indemnify us for all claims and losses, including attorneys fees, that we may incur as a result of any misuse of such service or device by any person. TRUNCATION, SUBSTITUTE CHECKS, AND OTHER CHECK IMAGES - You agree that if we receive an indemnified copy of your original check, a substitute check, or an image of one of your checks rather than the original item, we may pay the item as if the original had been presented to us. 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 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. 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. Requests submitted after 8:00 P.M. ET any business day will become effective the next business day. 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. Failure to provide the correct information may result in the item being paid. We are not responsible for items being paid because of incorrect information. You agree to reimburse us for all expenses and loss resulting from refusing payment pursuant to this order, or if by reason of such stop payments other checks are returned unpaid because of insufficient funds. You may stop payment on any item drawn on your account whether you sign the item or not, if you have an equal or greater right to withdraw from this account than the person who signed the item. Generally, if your stop-payment order is given to us in writing it is effective for twelve (12) months. Your order will lapse after that time if you do not renew the order in writing before the end of the twelve (12)-month period. If the original stoppayment order was given to us verbally (including those made through the Telephone Banking System) or electronically (using our online banking system) your stop-payment order must be confirmed in writing in order to ensure that it remains in effect for twelve 7

9 (12) months. 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. Additional limitations on our obligation to stop payment are provided by law (e.g., we paid the item in cash or we certified the item). 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. LOST, DESTROYED, OR STOLEN OFFICIAL BANK CHECKS - Under some circumstances you may be able to assert a claim for the amount of a lost, destroyed, or stolen official bank check. To assert the claim: (a) you must be the remitter (or drawer) of an official bank 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. Wemay pay the check until the ninetieth day after the date of the check (or date of acceptance of an official bank 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 official bank check. At our option, we may pay you the amount of the check before your claim becomes enforceable. However, we may 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. 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 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 A Tenancy By The Entirety Or 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. Pay-On-Death - If two or more of you create such an account, you own the account as joint tenants with survivorship. Beneficiaries cannot withdraw unless: (1) all persons creating the account die, and (2) the beneficiary is then living. If two or more beneficiaries are named and survive the death of all persons creating the account, such beneficiaries will own this account in equal shares, without right of survivorship. The person(s) creating this account type reserves the right to: (1) change beneficiaries, (2) change account types, and (3) withdraw all or part of the account funds at any time. We do not allow beneficiaries to be designated for an interest checking account. UTMA Accounts - A Uniform Transfers to Minors ( UTMA ) Account is an account that is managed by a custodian for the sole benefit of the minor who owns the funds in the account. An UTMA account can have only one custodian and one minor owner. The custodian controls 8

10 the account and we will act only on instructions received from the custodian. We have no duty to monitor or ensure that the acts of the custodian are for the minor owner's benefit. The minor owner's tax identification number ( TIN )/social security number is used for IRSTIN certification and reporting. You may want to speak with a tax advisor before opening an UTMA account. BACKUP WITHHOLDING/TIN CERTIFICATION - Federal tax law requires us to report interest payments we make to you of ten dollars ($10) or more in a year, and to include your taxpayer identification number (TIN) on the report (the taxpayer identification number is your social security number if you are an individual). 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. 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. DORMANT ACCOUNTS - For any account other than a certificate of deposit, if there is no activity for twenty-four (24) months other than the crediting of interest, you agree that we may charge you a monthly dormant account fee as described in the Fee Schedule. You further agree that if we choose to delay when we start charging you this fee, we do not waive our right to begin charging it at a later date. You agree that we may, at our discretion, choose to close any account that you maintain with us that we have determined to be dormant. STATEMENTS - Your duty to report unauthorized signatures, alterations and forgeries - If you discover (or reasonably should have discovered) any unauthorized signatures or alterations, you must promptly notify us of the relevant facts. As between you and us, if you fail to do either of these duties, you will have to either share the loss with us, or bear the loss entirely yourself (depending on whether we used ordinary care and, if not, whether we substantially contributed to the loss). The loss could be not only with respect to items on the statement but also to 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 thirty (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 sixty (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 sixty (60) - day limitation is without regard to whether we used ordinary care. The limitation in this paragraph is in addition to that contained in the first paragraph of this section. Your duty to report other errors - In addition to your duty to review your statements for unauthorized signatures, alterations and forgeries, you agree to examine your statement with reasonable promptness for any other error - such as an encoding error. You agree that the time you have to examine your statement and report to us will depend on the circumstances. However, such time period shall not exceed sixty (60) days. Failure to examine your statement and report any such errors to us within sixty (60) days of when we first send or make the statement available precludes you from asserting a claim against us for any such errors on items identified in that statement and as between you and us the loss will be entirely yours. Errors relating to electronic fund transfers or substitute checks - For information on errors relating to electronic fund transfers (e.g., computer, debit card or ATM transactions) refer to your Electronic Fund Transfers disclosure and the sections on consumer liability and error resolution below. For information on errors relating to a substitute check you received, refer to 9

11 your disclosure entitled Substitute Checks and Your Rights. MASTERCARD ZERO LIABILITY PROTECTION - When your MasterCard debit card is used for point-of-sale transactions that do not require a personal identification number (PIN), you may not be responsible for unauthorized purchases provided that your account is in good standing, you have exercised reasonable care in safeguarding your card (for example, registering certain cards) from any unauthorized use, and you have not reported two (2) or more unauthorized events in the past twelve (12) months. Unauthorized use means that you did not provide, directly, by implication or otherwise, the right to use your card and you received no benefit from the unauthorized purchase. If any of the conditions set forth above are not met, you may be liable for the transaction to the extent set forth in the Electronic Fund Transfers disclosure included below. RESOLVING ACCOUNT DISPUTES - We may place an administrative hold on the funds in your account (refuse payment or withdrawal of the funds) if it becomes subject to a claim adverse to (1) your own interest; (2) 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. 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. ACCOUNT HOLDS - If we have reason to suspect that your account has been or is being used for any irregular or illegal activities, we may place a hold on the balance in the account and on the balances in any additional accounts you have with us without any liability to you while we investigate. If we place a hold on your account(s), we will notify you as required by law. 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. SETOFF - We may (without prior notice and when permitted by law) set off the funds in this account against any due and payable debt you owe us now or in the future, by any of you having the right of withdrawal, to the extent of such persons or legal entity s right to 10

12 withdraw. If the debt arises from a note, any due and payable debt includes the total amount of which we are entitled to demand payment under the terms of the note at the time we set off, including any balance the due date for which we properly accelerate under the note. This right of setoff does not apply to this account if prohibited by law. For example, the right of setoff does not apply to this account if: (a) it is an Individual Retirement Account or similar tax-deferred account, or (b) the debt is created by a consumer credit transaction under a credit card plan (but this does not affect our rights under any consensual security interest), or (c) the debtor s right of withdrawal only arises in a representative capacity. We will not be liable for the dishonor of any check or other withdrawal transaction when the dishonor occurs because we set off a debt against this account. You agree to hold us harmless from any claim arising as a result of our exercise of our right of setoff. AMENDMENTS AND TERMINATION - W e may change any term of this agreement. Rules governing changes in interest rates are provided separately. 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 by mail. Notice from us to any one of you is notice to all of you. 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 certificate of deposit, the change will not occur before the next maturity date of your certificate of deposit. 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. ACCOUNT TRANSFER - This account may not be transferred or assigned without our prior written consent. 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. MONITORING AND RECORDING TELEPHONE CALLS - We may monitor or record phone calls for security reasons 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. ARBITRATION - This Agreement contains a pre-dispute arbitration clause, which will survive the termination of this Agreement and the Account. By signing an arbitration agreement, you and TIAA-CREF Trust Company, FSB agree as follows: All parties to this Agreement are giving up the right to sue each other in court, including the right to a trial by jury, except as provided by the rules of the arbitration forum in which a claim is filed. Arbitration awards are generally final and binding; a party s ability to have a court reverse or modify an arbitration award is very limited. The ability of the parties to obtain documents, witness statements and other discovery is generally more limited in arbitration than in court proceedings. The arbitrators do not have to explain the reason(s) for their awards. The rules of some arbitration forums may impose time limits for bringing a claim in arbitration. In some cases, a claim that is ineligible for arbitration may be brought in court. The rules of the arbitration forum in which the claim is filed, and any amendments thereto, will be incorporated into this Agreement. The arbitrator shall have no authority to award punitive damages or any other kind of damages not measured by the prevailing party s actual damages. IT IS AGREED THAT ANY CONTROVERSY OR CLAIM ARISING OUT OF OR RELATING 11

13 TO THIS AGREEMENT, OR THE BREACH THEREOF, OR THE ACCOUNT WILL BE SETTLED BY ARBITRATION ADMINISTERED BY THE AMERICAN ARBITRATION ASSOCIATION ( AAA ). THE RULES OF THE ARBITRATION WILL BE THOSE IN GENERAL USE BY THE AAA, EXCEPT AS MODIFIED BY THIS SECTION OR OTHERW ISE AGREED TO BY THE PARTIES. JUDGMENT UPON THE AW ARD RENDERED BY THE ARBITRATOR MAY BE ENTERED IN ANY COURT HAVING JURISDICTION THEREOF. THE ARBITRATION WILL BE BEFORE A SINGLE ARBITRATOR AND W ILL BE HELD IN THE CITY OF ST. LOUIS, MISSOURI. THE PREVAILING PARTY WILL BE ENTITLED TO RECOVER ITS REASONABLE ATTORNEYS FEES AND EXPENSES OF LITIGATION, INCLUDING EXPERT COSTS, IN ANY SUCH ARBITRATION. 12

14 ELECTRONIC FUND TRANSFERS YOUR RIGHTS AND RESPONSIBILITIES Please read this disclosure carefully because it tells you your rights and obligations under the Electronic Fund Transfers Act for the transactions listed. You should keep this notice for future reference. ELECTRONIC FUND TRANSFER SERVICES - The following electronic fund transfer services are available to you when you open a deposit account with TIAA- CREF Trust Company, FSB. 1) Direct deposits of payments from the Federal Government such as social security, veteran s benefits, or other such payments that you receive. 2) Direct deposits of payroll to your account if your employer offers and you sign up for this service. 3) Other deposits to your account that are handled electronically such as an automated clearing house transaction that we receive from a third party or that we initiate on your behalf or a check image that we allow you to present to us using our remote deposit service if we make that service available to you. 4) W ithdrawals from your account that you authorize a third party to undertake on your behalf when we receive a properly completed request from the third party to transfer funds to them. 5) Transfers of funds from an account you have with us to a different deposit account or to a loan account that you have with us that you request either by telephone, our on-line banking service, our automated telephone banking service, an automated teller machine, or our mobile banking service if it is made available to you. You will be required to verify your identity to use any of these electronic fund transfer services. 6) Transfers of funds from an account you have with us to an account you have with a different bank once we have verified that you own that account, either by telephone or our on-line banking service. You will be required to verify your identity to use any of these electronic fund transfer services. 7) Transfers of funds from an Interest Checking Account you have with us to third parties using our bill pay service either by telephone, our on-line banking service, our automated telephone banking service, or our mobile banking service if it is made available to you. You will be required to verify your identity to use any of these electronic fund transfer services. 8) Transfers or withdrawals of funds as instructed by your use of a debit or ATM card if one is provided to you. FEES - There is no fee for most of the electronic fund transfer services that we make available to you. However, there are fees for the services described below. 1) If you use our bill pay service to request an expedited payment to a third party, there is a fee for that service. The current fee for an expedited payment is five dollars ($5.00) if the expedited payment can be completed electronically or twenty-five dollars ($25.00) if the expedited payment must be made by check. You will be told what the fee is at the time you request this service. 2) If you use an ATM card or debit card to withdraw cash in a foreign currency, we will charge you two dollars ($2.00) plus two-percent (2%) of the amount you withdraw once it is converted to U.S. Dollars. 3) If you use a debit card to make a purchase in a foreign currency or for any transaction that MasterCard classifies as a cross-border transaction (see the Terms and Conditions of Your Account above for more details about these 13

15 transactions), we will charge you a fee equal to two-percent (2%) of the transaction amount whether or not it is necessary to convert it into U.S. dollars. If the transaction requires a currency conversion, the fee will be based on the amount after it is converted to U.S. Dollars. 4) If you instruct us to stop payment of an electronic funds transfer that has already been processed, and it is possible for us to attempt to stop the payment, we may charge you a fee of twenty-five dollars ($25.00). LIMITATIONS ON ELECTRONIC FUND TRANSFERS - The following limitations apply to electronic fund transfers. 1) You may not instruct us to process more than $5,000 in ACH withdrawal transactions from any or all of your accounts with us in one business day. 2) You may not use an ATM or debit card to make cash withdrawals from an ATM totaling more than $500 per calendar day. 3) You may not use your debit card to make signature based transactions totaling more than $2,500 in any one calendar day. 4) You may not use your debit card to make PIN based transactions totaling more than $2,500 in any one calendar day. 5) You may not use our bill pay service to arrange for a single electronic fund transfer in excess of $10,000 or for total electronic fund transfers in any one day in excess of $10,000. You may not use the expedited payment feature of our bill pay service, if it is made available to you, to arrange for a single electronic fund transfer in excess of $2,500 or for total electronic fund transfers in any one day in excess of $5,000. Depending on your account status, we may allow you to arrange for transactions that exceed these limits, but doing so once does not obligate us to allow future transactions that exceed these limits. 6) For High Yield Savings Accounts, and Money Market Accounts, you may make up to six (6) 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. If you exceed these limits, we may close your account or convert it to a checking account. ATM OPERATOR AND NETWORK FEES - When you use an ATM, you may be charged a fee by the ATM operator or by any network used. You may be charged a fee for a balance inquiry even if you do not complete a fund transfer. In connection with certain promotions and/or for certain of our accounts, we may provide reimbursements, up to established limits, of such third-party ATM fees. If such ATM fee reimbursements are provided to you, you are responsible for any income tax consequences. In the event that your ATM fee reimbursements plus any other miscellaneous income that we paid to you totals $600 or more in a calendar year, we will report these collectively to the Internal Revenue Service on Form 1099-MISC, in the name of the primary accountholder. DOCUMENTATION Terminal transfers - You can get a receipt at the time you make a transfer from your account using an ATM or a point-of-sale terminal. However, you may not get a receipt if the amount of the transfer is fifteen dollars ($15) or less. Preauthorized credits - If you have arranged to have direct deposits made to your account at least once every sixty (60) days from the same person or company, you can call us at or use our on-line banking service to find out whether or not the deposit has been made. 14

16 Periodic statements - We will make a periodic statement for your deposit accounts available to you at least quarterly. Electronic fund transfers will be listed on your statement. BUSINESS DAYS - Our business days are Monday through Friday Excluding Federal Holidays. STOPPING PREAUTHORIZED PAYMENTS - If you have told us in advance to make regular payments out of your account, you can stop any of these payments by calling us at , by writing to us at TIAA-CREF Trust Company, FSB, P.O. Box, 2140, Cranberry Township, PA or by using our on-line banking service to instruct us to stop the payment. We must receive your request at least three (3) business days before the payment is scheduled to be made. If you call or use our on- line banking service, we may also require you to put your request in writing and get it to us within fourteen (14) days. We may charge you for each stop-payment order that we accept from you related to a payment that has already been processed. If you tell us to stop one of these payments at least three (3) business days before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages unless we required and did not receive written confirmation of a stop payment request that you made by telephone by using our on-line banking service within the fourteen (14) days, and the transfer takes place after the fourteen (14) day period. We will not be responsible for failing to act on your stop payment instructions if you do not give us precise and correct information about the payment that is to be stopped. NOTICE OF VARYING AMOUNTS - If you have arranged for regularly scheduled transactions that a third party will initiate for you and the amounts of those transactions may vary, the third party will tell you, ten (10) days before each transaction, the date and amount of the transaction. 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 unless: 1) through no fault of ours, you do not have enough money in your account to make the transfer; 2) the funds in your account are not yet available for withdrawal, or are otherwise appropriately held from withdrawal; 3) you have an overdraft line of credit and the transfer would exceed the credit limit; 4) the automated teller machine where you are making the transfer does not have enough cash; 5) the terminal or system was not working properly and you knew about the breakdown when you started the transfer; 6) circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken; or 7) an exception otherwise stated in our agreement with you would apply. CONFIDENTIALITY - We will disclose information to third parties about your account or the transfers you make: 1) where it is necessary for completing transfers; 2) in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; 3) in order to comply with government agency or court orders; or 4) as explained in the separate Privacy Disclosure. CONSUMER LIABILITY FOR UNAUTHORIZED TRANSFERS - Tell us AT ONCE if you believe that an unauthorized electronic fund transfer has occurred or if you believe that one 15

17 may occur because access to your account (for example your debit or ATM card or your personal identification information) may no longer be secure and may be used without your permission. Telephoning is the best way of keeping your possible losses down. If you do not tell us about an unauthorized fund transfer or fail to tell us that access to your account may no longer be secure, you could lose all the money in your account (plus your maximum overdraft line of credit). If you do notify us, your liability will be limited as follows. If you tell us within two (2) business days after you learn that access to your account may no longer be secure, you can lose no more than fifty dollars ($50.00) for unauthorized transfers out of your account. If you do NOT tell us within two (2) business days after you learn that access to your account may no longer be secure, and we can prove we could have stopped someone from accessing your account without your permission if you had told us, you could lose as much as five hundred dollars ($500). If your statement shows transfers that you did not make, tell us at once. If you do not tell us within sixty (60) days after the statement was mailed to you, you may not get back any money you lost after the sixty (60) days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we may extend this time period. RESOLVING ERRORS OR QUESTIONS ABOUT YOUR TRANSFERS - Call or write us at the telephone number or address listed below or through our on-line banking service 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 a statement or receipt. We must hear from you no later than sixty (60) days after we made the FIRST statement on which the problem or error appeared available to you. Provide us with the following information: 1) your name and account number (if any); 2) a description of 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) the dollar amount of the suspected error. If you tell us about an error by telephone or by using our on-line banking service, we may require that you send us your complaint or question in writing within ten (10) business days. We will determine whether an error occurred within ten (10) business days (twenty (20) business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days (ninety (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 ten (10) business days (twenty (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 ten (10) business days, we may not credit your account. Your account is considered a new account for the first thirty (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 (3) business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. If we credit your account while we investigate and later conclude that no error occurred we will debit your account for the amount that was credited. You may ask for copies of the documents that we used in our investigation. CONTACT US - Here is how to contact us with a question about an electronic fund transfer, to report an error with an electronic fund transfer, to tell us about an unauthorized transfer, or to tell us that access to your account may no longer be secure. Write us at: 16

18 TIAA-CREF Trust Company, FSB Customer Service P.O. Box 2134 Cranberry Township, PA Or Telephone us at: Or use our on-line banking service at: YOUR ABILITY TO WITHDRAW FUNDS Our policy is to delay the availability of certain deposits you make into any account you maintain with us. The length of this delay is counted in business days from the day the deposit is credited to your account. For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and Federal holidays. Our cutoff time for deposits you make by wire transfer is 4:00 P.M. Eastern Time (ET). Our cutoff time for all other types of deposits is 5:00 P.M. ET. If you make a deposit before the applicable cut off time described above on a business day, we will consider that day to be the day of your deposit. However, if you make a deposit after the applicable cut off time described above or on a non-business day, we will consider that the deposit was made on the next business day. Once the funds are available, you can withdraw them in cash and we will use the funds to pay checks that you have written and other withdrawal requests that you make. 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. The Following Rules Apply To High Yield Savings Accounts, Money Market Accounts, And Certificates Of Deposit: Funds from electronic deposits made by the payer (for example direct deposits of payroll or other payments like government benefits) and funds deposited by wire transfer will be made available on the day they are credited to your account. Funds from the deposit of a check that is drawn on TIAA-CREF Trust Company, FSB ("On Us Checks") will be made available on the first business day following the day the deposit is credited to a High Yield Savings Account, Money Market Account, or Certificate of Deposit. We may, at our sole discretion, choose to treat certain other deposited checks as On-Us Checks even though they are not drawn on TIAA- CREF Trust Company, FSB. Choosing to do so once does not obligate us to treat subsequently deposited checks in the same manner. Funds from all other deposits will be made available on the fifth business day following the day the deposit is credited to a High Yield Savings Account, Money Market Account, or Certificate of Deposit. The Following Rules Apply To Interest Checking Accounts: Our policy is to make funds from most check deposits available to you on the second business day after the day we credit your deposit, with the first $200 available on the first business day after the day of your deposit. Certain check deposits, as described below, will be made available before the second business day. Funds from electronic deposits initiated by the payer (for example direct deposits of payroll or other payments like government benefits) and funds deposited by wire transfer will be available on the day they are credited to your Interest Checking Account. Deposited funds from electronic fund transfers or automated clearing house transactions that we initiate on your behalf will be available on 17

19 the second business day following the day we credit the deposit to your Interest Checking Account. Next-Day Availability Funds from the following check deposits are available on the first business day after the day of your deposit: U.S. Treasury checks that are payable to you. Checks that are drawn on TIAA-CREF Trust Company, FSB ( On-Us Checks ). We may, at our sole discretion, choose to treat certain other deposited checks as On- Us Checks even though they are not drawn on TIAA-CREF Trust Company, FSB. Choosing to do so once does not obligate us to treat subsequently deposited checks in the same manner. Other Check Deposits Subject to Second-Day Availability The first $200 from a deposit of checks not described above will be available on the first business day after the day of your deposit. The remaining funds will be available on the second business day after the day of your deposit. For example, if you deposit a check of $700 on a Tuesday, $200 of the deposit is available on W ednesday. The remaining $500 is available on Thursday. 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. For Interest Checking accounts only, 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. 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 checks or to electronic debits to your account. However, you 18

20 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 ten (10) business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than fortyfive (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. Substitute Checks, Indemnified Copies, Images, and Image Replacement Copies - In some cases, we may receive an indemnified copy of your original check, a substitute check, or an image of your check, instead of the original item. We may act upon presentment of an indemnified copy, substitute check, or image of your check and pay these items against your account, just as if the original item had been presented. How do I make a claim for a refund? If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us at: You must contact us within forty (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. TRUTH-IN-SAVINGS DISCLOSURES INTEREST CHECKING ACCOUNT Rate Information - See the attached Deposit Rate Disclosure. 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 19