December 2015 BUSINESS DISCLOSURE. Business Account Agreement

Transcription

1 December 2015 BUSINESS DISCLOSURE Business Account Agreement

2 Table of Contents BUSINESS INFORMATION Services 2 Deposit Account Information 3 ACCOUNT DESCRIPTIONS Basic Business Checking 4 Business Plus Checking 4 Business Analysis Checking 4 NPO & IOLTA Checking 4 Statement Savings 5 Business Money Market 5 Cash Management Services 5 Fee Schedule 6 DISCLOSURES Business Deposit Account Agreement 7 Business Debit Card Terms & Conditions 11 Funds Availability Policy Disclosure 11 OTHER SERVICES Asset Management & Trust Services 14 Investment Services 14 Advisory Services 14

3 BUSINESS INFORMATION Welcome to Your New Account. We understand that you may have questions about your account requirements, benefits, and fees. To help you avoid unexpected fees, this Schedule explains when fees may be charged. Account Information Account information pages summarize the features and fees related to each of our business deposit accounts. Fees In addition to potential fees listed for each account in the account information pages, the Business Fee Schedule section of this document lists other fees associated with services you may use. Fees may vary based on the account you have with ESSA Bank & Trust and how you use your account. Where fees vary, we have noted the differences, so you can determine if you will be charged a fee. If you have a question about a fee that this document does not cover, please contact a Customer Service Representative at your local branch or call (570) (if out of the area, call toll-free (800) ). Services Online Banking ibank@essa (ibank), our online banking service, provides convenient, secure access to your account information. With ibank you can view account balances and history, transfer funds between accounts, set up account alerts, download your data to Quicken/QuickBooks using Express WebConnect on your computer, and sign up for estatements (electronic statements). To sign up for free access to ibank, visit and click on the Enroll in Online Banking link in the ibank@essa login box in the upper left corner of the page, or contact one of our Cash Management team members at (570) (if out of the area, call toll-free (800) ) to sign up for our business online banking product. ESSA Online Bill Pay 1 Bill Pay is an easy and flexible way to manage and pay bills online. It s fast electronic payments can reach people in two days or less, it s easy set up payments in advance for one-time or recurring bills, and it s convenient no envelopes, stamps or hassles. To start using Bill Pay, sign in to your ibank account and click on the Bill Pay tab. Popmoney (Pay Other Person) is an innovative personal payment service that eliminates the hassle of checks and cash. It makes sending and receiving funds as easy as ing and texting. Standard fees per transaction are as follows: Sending Money $ $ $0.50 $ $ $0.75 $1,000 and more $1.50 Receiving Money $ $ $0.50 $ $ $0.75 $1,000 and more $1.50 A2A (Account to Account Transfer) allows you to easily transfer money between your accounts at multiple financial institutions. Standard fees per transaction are as follows: Sending Money $1.00 Receiving Money No Charge To start using these features, sign in to your ibank account and click on the Bill Pay tab. estatements ESSA s electronic statements are safe and secure, available before paper statements, environmentally friendly, and free! If you are already an ibank user, you can enroll by clicking on the estatements tab once you ve signed into your account. If you are not an ibank user but would like to receive your statements electronically simply visit to enroll. 1 Not available with all accounts. 2

4 Telephone Banking ESSA TeleBank offers a fast, convenient and simple way of obtaining information on your accounts at ESSA. You can dial in from any touch-tone phone anytime, anywhere. To access TeleBank, simply call (570) (if out of the area, call toll-free (800) ). Automated Clearing House (ACH) Receive debit and credit transactions electronically using the Automated Clearing House at no charge or for a low minimum transaction fee. Fees are based on the product you choose (see below for product descriptions and per item fees). For more information, contact a Customer Service Representative at any of our branch locations or call (570) (if out of the area, call toll-free (800) ). Credit Cards ESSA offers Visa business credit cards to meet your needs. Become a card member and enjoy a wide range of benefits such as extended protection on purchases and management reports. To apply, visit click on the Business Banking tab, and select the credit card link. Overdraft Protection Overdraft Protection is available for checking accounts. Please refer to the Business Service Fees section for Overdraft Transfer fees. Deposit Account Information Fees and Charges Please refer to the separate fee schedule provided on page 7 of this disclosure for information about fees and charges associated with your accounts. A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request. Current Rate Information To obtain current rate and annual percentage yield information, please visit our website or call (570) (if out of the area, call toll-free (800) ). Tiered Variable Rate Information If you have an account with a variable rate, your interest rate and APY may change. At our discretion, we may change the interest rate on your account at any time. There are no maximum or minimum interest rate limits for your account. If you have a tiered account you will earn the applicable rate on your total balance for each day it exceeds the set tier. Processing Order Checking and Money Market Accounts: All credit transactions are processed first. Debits, or withdrawals, from your account will be processed as follows: in person, electronic items such as ATM and POS transactions, then Automated Clearing House (ACH) and checks. ACH/checks are processed lowest to highest. Savings Account transactions are processed in the order they are received. 3

5 ACCOUNT DESCRIPTIONS Basic Business Checking Minimum Balance Requirements A $ minimum deposit is required to open this account. The minimum daily balance to avoid a monthly service charge is $ If the balance falls below $ any day during the month, a $10.00 fee will be charged for servicing the account. Transaction Limitations This account includes up to 250 transaction items (combination of deposit tickets posted, checks paid, and/or ACH transactions posted) per statement cycle at no charge. There is a $.20 per item charge for each item over 250. Additional Account Information Bill Pay service may be available with this account. The monthly fee for Bill Pay is waived if this account is enrolled in estatements. Business Plus Checking Minimum Balance Requirements A $ minimum deposit is required to open this account. Interest is earned on the collected balance anytime the minimum daily balance is $1, or more. Transaction Limitations This account includes up to 500 transaction items (combination of deposit tickets posted, checks paid, and/or ACH transactions posted) per statement cycle at no charge. There is a $.20 per item charge for each item over 500. Additional Account Information Bill Pay service may be available with this account. The monthly fee for Bill Pay is waived if this account is enrolled in estatements. Business Analysis Checking Minimum Balance Requirements A $ minimum deposit is required to open this account. There is no minimum daily balance requirement. Analysis Checking Accounts receive an earnings credit based on the average daily collected balance. This credit is used to offset, or partially offset, fees associated with the account. There is a $15 per month maintenance fee. Transaction Limitations Deposit tickets posted, checks paid, and items deposited are $.20 per item. ACH transactions posted are $.05 per item. Additional Account Information Bill Pay service may be available with this account. The monthly fee for Bill Pay is waived if this account is enrolled in estatements. NPO & IOLTA Checking This account is offered to not-for-profit (NPO) organizations and attorneys needing to open an Interest On Lawyer Trust Account (IOLTA). Not-for-profit organizations may have received IRS designation as a nonprofit or they may be an informal organization, such as a club, church, property owners association, etc. Minimum Balance Requirements A $50.00 minimum deposit is required to open this account. There is no minimum daily balance requirement. Transaction Limitations NPO/IOLTA Checking accounts are permitted an unlimited number of transactions each statement cycle without incurring additional fees. Additional Account Information Bill Pay service may be available with this account. The monthly fee for Bill Pay is waived if this account is enrolled in estatements. 4

6 Statement Savings Minimum Balance Requirements A $ deposit is required to open this account. There is a $1.00 fee if the balance falls below $ any day of the statement cycle. Credited and compounded monthly. The interest rate on your account is variable. Transaction Limitations During any statement cycle you may not make more than six (6) withdrawals or transfers to another account of yours or to a third party by means of a preauthorized/automatic transfer, telephone transfer, online banking transfer, debit card, or similar transfer. Business Money Market 1 Minimum Balance Requirements A $10, deposit is required to open this account. A charge of $10.00 for servicing the account will be imposed every statement cycle if the daily balance in the account falls below $10, any day of the statement cycle. The interest rate on your account is variable based on your daily balance. The following tiers apply: $10, to $24, $25, to $99, $100, to $499, $500, to $999, $1,000, and over Interest will be credited and compounded monthly. Transaction Limitations During any statement cycle you may not make more than six (6) withdrawals or transfers to another account of yours or to a third party by means of a preauthorized/automatic transfer, telephone transfer, online banking transfer, check, draft, debit card, or similar transfer. Cash Management Services ESSA offers Cash Management 2 services that help you run your business more efficiently. We offer the following services: ACH Origination Remote Deposit Capture (edeposit@essa,) Merchant Processing Wire Transfers Zero Balance Accounts NOTE: ESSA is an Equal Opportunity Lender and FDIC Insured. Please see the Conversion Information Booklet for additional information. 1 This account may not be available in all areas. 2 Cash Management customers must be enrolled in our business online product for ACH Origination and/or Remote Deposit Capture (edeposit) 5

7 Fee Schedule Fee for Insufficient Funds created by check, in-person withdrawals, ATM withdrawals, or other electronic means: Return Check Overdraft Non-Sufficient OD/NSF NSF Attempt to Post Fee Up to $35.00 Stop Payment Fee $35.00 Deposited Item Return Fee (per item) $12.00 Wire Transfer Fee: Incoming Domestic and International Outgoing Domestic Outgoing International $10.00 $10.00 $85.00 Overdraft Transfer Fee (per transfer) $10.00 Charge for Dormancy (per month, after 24 months with no customer-initiated activity) $3.00 After 3 years without customer-initiated activity Business Debit Card: Monthly Card Fee (per card, per statement cycle) 1 Card Reissue Fee (per card) Debit Card Activity Charge (per transaction) 2 : Signature-based Transactions (debit card only) PIN-based Transactions At ESSA ATM At non-essa ATM (other bank fees may apply) $75.00 charge & Escheat to state $1.00 $5.00 N/C $.25 N/C $1.50 Cashier s Check (per item) $5.00 Early Account Closure (closed within 60 days of opening) $10.00 Research Fee (includes check and statement copies) Coin Handling $25.00 per hour (pro-rated to the nearest 1/4 hour) 5% of coins counted Levy Fee Collected $ ibank@essa Online Banking Bill Pay (per month, after first three months) 3 Popmoney Transactions (per transaction) 4 A2A Transactions (per transaction) 4 Free $5.00 See page 3 See page 3 Excessive Electronic Fund Transfer Fee 5 (per transfer and/or POS over 6) $ Fee waived for Business Analysis Checking and Statement Savings 2 ESSA Transaction Fees waived for Business Money Market Account. Other banks fees may apply 3 Some business checking accounts are eligible to have the monthly bill pay fee waived when enrolled in estatements 4 Not available with all accounts 5 Fee applies to Statement Savings and Money Market accounts. (see account information above) 6

8 DISCLOSURES Business Deposit Account Agreement General Agreement. The terms you and your refer to the depositor and the terms we, us and our refer to the financial institution. The acronym NOW means Negotiable Order of Withdrawal, if you are an entity eligible to open such account. You understand that the following Account Agreement ( Agreement ) governs your account with us, along with any other documents applicable to your account, such as our Funds Availability Policy or Privacy Policy ( Disclosures ), which are incorporated herein by reference. General Rules The following rules apply to your account: 1. Deposits. Deposits may be made in person or by mail at any time. We are not responsible for transactions initiated by mail until we actually receive and record them. We may refuse to accept particular checks or similar instruments as a deposit to your account at our discretion. The terms of our Disclosures will control the determination of the banking day deposits are deemed received by us and when they will be available for withdrawal. If any check or similar instrument you deposit to your account is returned unpaid, we have the right to debit your account for the amount of such item and adjust any related interest earned. You will, in any event, be liable to us for the amount of any check or similar instrument you deposit to your account that is returned unpaid, plus our costs and expenses associated with collection of all or any part of such amount from you, including reasonable attorney fees. Deposits may be subject to a service charge. 2. Collection of Deposited Items. In receiving items for deposit or collection, we act only as your agent and assume no responsibility beyond the exercise of ordinary care. All items are credited subject to final settlement in cash or credits. We shall have the right to forward items to correspondents including all Federal Reserve Banks, and we shall not be liable for default or neglect of said correspondents for loss in transit, nor shall any correspondent be liable except for its own negligence. You specifically authorize us or our correspondents to utilize Federal Reserve Banks to handle such items in accordance with provisions of Regulation J (12 CFR Part 210), as revised or amended from time to time by the Federal Reserve Board. In the event we are subject to local clearinghouse rules, you specifically authorize us to handle such items in accordance with the rules and regulations of the clearinghouse. If we permit you to withdraw funds from your account before final settlement has been made for any deposited item, and final settlement is not made, we have the right to charge your account or obtain a refund from you. In addition, we may charge back any deposited item at any time before final settlement for whatever reason. We shall not be liable for any damages resulting from the exercise of these rights. Except as may be attributable to our lack of good faith or failure to exercise ordinary care, we will not be liable for dishonor resulting from any reversal of credit, return of deposited items or for any damages resulting from any of those actions. This provision also applies to any remotely created check that you may deposit into your account. A remotely created check, as defined in Regulation CC, means a check that is not created by the paying bank and that does not bear a signature applied, or purported to be applied, by the person on whose account the check is drawn. By having a deposit account with us, you certify that all remotely created checks deposited to your account(s) will be expressly and verifiably authorized by the payor. And we reserve the rights to refuse for deposit any such remotely created check if we have any reason to believe that the item is fraudulent in any manner, and to obtain from you the payor s express, verifiable authorization for any such item. 3. Unlawful Internet Gambling. Restricted transactions are prohibited from being processed through your account with us as required by the Unlawful Internet Gambling Enforcement Act of 2006 and Regulation GG. A restricted transaction is a transaction or transmittal involving any credit, funds, instrument, or proceeds in connection with the participation of another person in unlawful internet gambling. 4. Set-offs and Liens. We may set-off funds in your account and any other accounts held by you to pay any debt you may owe us. In addition, you grant to us a security interest in your deposit accounts to secure any debt you may owe us in any non-consumer transaction. 5. Claims. In response to any garnishment, attachment, restraining order, injunction, levy, citation to discover assets, judgment, reclamation, other order of court or other legal process ( Claim(s) ), we have the right to place a hold on, remove from your account(s) and/or remit to the designated third-party(ies) any amount on deposit in your account(s) as set forth in and required by such Claim(s). In addition, we may charge against your account(s) any fee authorized by law in connection with the Claim(s) or as otherwise set forth in the fee schedule. 6. Expenses. You agree to be liable to us for any loss, cost or expense that we incur as a result of any dispute, attachment, garnishment, levy or subpoena of records involving your account, including reasonable attorneys fees to the extent permitted by law, and you authorize us to deduct such loss, cost or expense from your account without prior notice to you. 7. Dormant Accounts. You understand that if your account is dormant, you may be charged the fee specified in the Fee Schedule and we may stop paying interest to the extent permitted by law and your account balance maybe escheated (that is, turned over to the state) in accordance with state law. If your account balance is escheated, you agree that we are relieved of all responsibility for the balance escheated. 7

9 8. Escrow, Trust, Fiduciary, and Custodial Accounts. When your account is set up as an escrow, trust, fiduciary, or custodial account, it is your sole responsibility to determine the legal effects of opening and maintaining an account of this nature. We have no obligation to act as trustee or to inquire into your powers or responsibilities over this account. We reserve the right to require the documentation necessary under applicable law to establish, maintain, manage, and close this account. There may be additional terms and conditions that apply to this account that are governed by a separate agreement. 9. Additional Documents to Open Account. You agree to supply us with a separate authorization informing us of the authorized signer(s), if requested to do so, and to provide any other related document requested by us. 10. Signatures. Your signature on the Account Information form is your authorized signature. You authorize us, at any time, to charge you for all checks, drafts, or other orders for the payment of money that are drawn on us regardless of by whom or by what means (including facsimile signature(s) may have been affixed so long as they resemble the signature specimen in our files. For withdrawal and for other purposes relating to any account you have with us, we are authorized to recognize your signature; and we will not be liable to you for refusing to honor signed instruments or instructions if we believe in good faith that one or more of the signatures appearing on the instrument or instruction is not genuine. If your items are signed using any facsimile signature or non-manual form of signature, you acknowledge that it is solely for your benefit and convenience. You agree that no facsimile signature you have authorized us to honor may be considered a forgery or an unauthorized signature, and that every authorized facsimile signature shall be effective as the signatory s own original, manual signature. You accept sole responsibility for maintaining security over any device affixing the signature as such signature will be effective regardless of whether the person affixing it was authorized to do so. Your authorization notwithstanding, we are not obligated to accept or pay any items bearing facsimile signatures. Further, most checks and other items are processed automatically, i.e., without individual review of each check or item. Therefore, unless we agree in a separate writing, in our sole discretion, upon your request and due to unique circumstances to conduct individual review of checks or other items for more than one signer, you agree that we are acting within common and reasonable banking practices by automatically processing checks and other items, i.e., without individual review of each check or item. You agree to indemnify, defend, and hold us harmless from and against all loss, costs, damage, liability, and other injury (including reasonable attorney fees) that you or we may suffer or incur as a result of this practice. 11. Restrictive Legends. We are not required to honor any restrictive legend on checks you write unless we have agreed to the restriction in a writing signed by an officer of the financial institution. Examples of restrictive legends are two signatures required, must be presented within 89 days or not valid for more than $1, Fees, Service Charges and Balance Requirements. You agree to pay us and are responsible for any fees, charges or balance/deposit requirements as provided in the Fee Schedule or Disclosures. We also reserve the right to impose a service charge for cashing checks drawn on your account if the person cashing the check is not a customer of this financial institution. 13. Amendments and Alterations. Notice will be given to you if we change the terms of this Agreement at any time by mailing notice to your address shown on our records, by posting a notice of any such changes at our main office, or by whatever notice requirements that may be required by law. 14. Notice. You are responsible for notifying us of any address change or other information affecting your account. Notices must be in a form and manner acceptable to us with enough information to allow us to identify the account. Notice sent by you to us is not effective until we have received it and have a reasonable opportunity to act on it. Written notice sent by us to you is effective when mailed to the last address supplied to us. 15. Closing Account. We may close your account at any time, with or without cause, by sending you notice and a check for the balance in our possession to which you may be entitled. At our discretion, we have the authority to pay an otherwise properly payable check, which is presented after the closing of your account. 16. Notices, Transfers, and Assignments. You cannot assign or transfer any interest in your account unless we agree in writing. 17. Effective Applicable Laws and Regulations. You understand that this Agreement is governed by the laws of the state where this account is opened except to the extent that federal law is controlling and includes, but is not limited to, Article 4A of the Uniform Commercial Code. Changes in these laws and regulations may modify the terms and conditions of your account. We do not have to notify you of these changes unless required to do so by law. If any of the terms of this Agreement conflict with applicable law and are declared to be invalid or unenforceable, those terms will be ineffective to the extent of the conflict and the applicable law will govern. The remaining provisions will remain unaffected. 18. ACH and Wire Transfers. This Agreement is subject to Article 4Aof the Uniform Commercial Code-Funds Transfers as adopted by the state in which the account is opened. If you send or receive a wire transfer, you agree that Fedwire Funds Service may be used. Federal Reserve Board Regulation J is the law that covers transactions made over Fedwire Funds Service. When you originate a funds transfer for which Fedwire Funds Service is used, and you identify by name and number a beneficiary financial institution, an intermediary 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. If you are a party to an Automated Clearing House ( ACH ) entry, you agree to be bound by the rules and regulations of the National Automated Clearing House Association ( NACHA ) Operating Rules, the Rules of any local ACH, and the Rules of any other system through which the entry is made. 8

10 Provisional Payment. Credit we give you is provisional until we receive final settlement for that entry. If we do not receive final settlement, you agree that we are entitled to a refund of the amount credited to you in connection with the entry, and the party making payment to you via such entry (i.e., the originator of the entry), shall not be deemed to have paid you in the amount of such entry. Notice of Receipt. We will not provide you with notice of your receipt of the order, unless we are so requested by the transfer originator in the order. However, we will continue to notify you of the receipt of payments in the periodic statements we provide to you. Choice of Law. We may accept on your behalf payments to your account which have been transmitted, that are not subject to the Electronic Fund Transfer Act, and your rights and obligations with respect to such payments shall be construed in accordance with and governed by the laws of the state where we are located. International ACH Transactions. If your transaction originates from a financial agency that is outside of the territorial jurisdiction of the United States, it may be subject to additional review for compliance with the rules of the Office of Foreign Assets Control (OFAC). If additional review is required, the International ACH transaction will not be available to you until it passes final verification. 19. Checks. All negotiable paper ( checks ) presented for deposit must be in a format that can be processed, and we may refuse to accept any check that does not meet this requirement. All endorsements on the reverse side of any check deposited into your account must be placed on the left side of the check when looking at it from the front, and the endorsement must be placed so as to not go beyond an area located 1-1/2 inches from the left edge of the check when looking at it from the front. It is your responsibility to ensure that these requirements are met, and you are responsible for any loss incurred by us for failure of an endorsement to meet this requirement. 20. Substitute Checks. To make check processing faster, federal law permits financial institutions 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 check(s). 21. Non-Sufficient Funds. If your account lacks sufficient available funds to pay a check, preauthorized transfer, or other debit activity presented for payment, we may return any such item for non-sufficient funds and may charge you a fee as provided in the Fee Schedule subject to our Over draft Policy, and, if applicable, to any overdraft protection plan you have consented to in writing with us. Regardless, our handling of the item may subject your account to a fee. We will process checks and other debit items in the order provided to you at account opening. 22. Stop Payments. If you request us to stop payment on a check you have written, or on a preauthorized transfer, you will give written or other confirmation as allowed by us within fourteen (14) days of making the request. If you fail to confirm an oral stop payment request within the fourteen (14) days, we reserve the right to cancel the request. Your stop payment request must describe the item or account with reasonable certainty and we must receive the request in a time and way that gives us a reasonable opportunity to act on it. Stop payments are effective for six (6) months. You may be charged a fee every time you request a stop payment even if it is a continuation of a previous stop payment request. You understand that we may accept the stop payment request from any of the authorized signers of the account regardless of who signed the check or authorized the transfer. Our acceptance of a stop payment request does not constitute a representation by us that the item has not already been paid or that we have had a reasonable opportunity to act on the request. We may accept a stop payment request on lost or stolen checks, whether a single check or a series, unless our policy requires we open a new account for you to ensure your security. 23. Statements. We will provide you with a periodic statement showing the account activity. You must notify us within thirty (30) days after we mail or otherwise make the statement available to you of any discrepancies. If you fail to notify us, you will have no claim against us. If you do not receive a statement from us because you have failed to claim it or have supplied us with an incorrect address, we may stop sending your statements until you specifically make written request that we resume sending your statements, and you supply us with a proper address. 24. Stale or Postdated Checks. We reserve the right to pay or dishonor a check more than six (6) months old without prior notice to you. You agree not to postdate any check drawn on the account. If you do and the check is presented for payment before the date of the check, we may pay it or return it unpaid. We are not liable to you for paying any stale or postdated check, and you agree to reimburse us for any loss we might suffer as long as we acted in good faith or exercised ordinary care. Any damages that you incur, and which we may be liable for, are limited to actual damages not to exceed the amount of the check. 25. Check Safekeeping. If you can write checks on your account and utilize check safekeeping or any other system offered by us for the retention of your checks, you understand that the canceled checks will be retained by us and destroyed after a reasonable time period or as required by law. If for any reason we cannot provide you with a copy of a check, our liability will be limited to the lesser of the face amount of the check or the actual damages sustained by you. When you request a copy of a check it may be subject to a fee as defined in the Fee Schedule. 26. No Waiver. You understand and agree that no delay or failure on our part to exercise any right, remedy, power or privilege available to us under this Agreement shall affect or preclude our future exercise of that right, remedy, power, or privilege. 9

11 CHECKING AND NOW ACCOUNTS In addition to the General Rules, your Checking Account and Negotiable Order of Withdrawal (NOW) Account will be subject to the following rules: 1. Checking Accounts. If your account is a checking account, it will be either non-interest bearing or interest bearing as defined in accordance with the product terms and conditions. 2. Withdrawals. Deposits will be available for withdrawal consistent with the terms of our Disclosures. Withdrawals may be subject to a service charge. 3. Withdrawal Notice Requirements. If your account is a NOW account or interest bearing checking account (rather than a non-interest bearing checking account), we have the right to require seven (7) days prior written notice from you of your intent to withdraw any funds from your account. MONEY MARKET ACCOUNTS In addition to the General Rules, your Money Market Account will be subject to the following rules: 1. Withdrawals. We have the right to require seven (7) days prior written notice from you of your intent to withdraw any funds from your account. Withdrawals may be subject to a service charge. 2. Access Limitations. You understand that we will not allow more transactions (check, draft, debit card or similar order) or preauthorized transfers than the maximum number permitted by Reg. D per designated period. A preauthorized transfer is a transfer of funds from this account to make payments to a third party by means of a preauthorized or telephone agreement, order or instruction. Federal regulations require compliance with these restrictions. We may be required to close your account, take away any ability to transfer and write checks, or convert the account to a checking or other transaction account if these restrictions are violated. SAVINGS ACCOUNTS In addition to the General Rules, your Savings Account will be subject to the following rules: 1. Withdrawals. We have the right to require seven (7) days prior written notice from you of your intent to withdraw any funds from your account. Withdrawals may be subject to a service charge. 2. Access Limitations. You understand that we will not allow more transactions (check, draft, debit card or similar order) or preauthorized transfers than the maximum number permitted by Reg. D per designated period. A preauthorized transfer is a transfer of funds from this account to make payments to a third party by means of a preauthorized or telephone agreement, order or instruction. Federal regulations require compliance with these restrictions. We may be required to close your account, take away any ability to transfer and write checks, or convert the account to a checking or other transaction account if these restrictions are violated. CERTIFICATES OF DEPOSIT/TIME DEPOSIT ACCOUNTS In addition to the General Rules, your Certificate of Deposit ( Certificate ) may be subject to the following: 1. Account Terms. The Certificate bears interest at the rate and basis as set forth on the Certificate. The terms of the Certificate, such as the interest rate(s), Annual Percentage Yield ( APY ), length of term period, renew-ability, and date of maturity are specified on the Certificate and as indicated at the time of account opening. Interest will not be compounded unless noted and will be paid to you at the frequency and in the method noted. Withdrawal of interest prior to maturity will affect the APY. 2. Withdrawal Prior to Maturity. You have contracted to keep the account funds on deposit from the issue date until the maturity date. We may accept a request by you for withdrawal of some or all of the account funds prior to the maturity date at our discretion. 3. Additional Deposits during the Term. No additional deposits will be allowed to this account during its term unless indicated at the time of account opening. 4. Early Withdrawal Penalty. We may assess an early withdrawal penalty on any withdrawal, either partial or in whole, that we allow you to make from your account prior to the account s maturity date as indicated at account opening. 5. Renewal. Automatic Renewal Certificates will renew automatically on the stated maturity date of its term. Such renewal will be for a time period equal or similar to the original term and subject to these terms and conditions. Interest for that renewal term will be paid at the interest rate then in effect at this financial institution for similar accounts. If you close the Certificate after the maturity date or within the grace period following the maturity date, we will not charge an early withdrawal penalty for that withdrawal. 6. Single Maturity. Single Maturity Certificates will not automatically renew at maturity. To ensure a continuation of interest earning, you must arrange for a new investment of the account balance. 10

12 Business Debit Card Terms & Conditions 1. Accounts and Uses of Card. I understand that I may use the Card at any retail establishment ( Merchant ) where the Card is accepted to purchase goods and services ( Purchase ). If I use the Card to make a Purchase, I shall be requesting you to withdraw funds in the amount of such Purchase from the checking account associated with the card and directing or ordering you to pay such funds to the Merchant. I request that you provide to me such other service or networks using the Card which you make available and which you advise me are offered in connection with my account(s) associated with the card. I also understand that from time to time I may request in writing that you provide access to additional accounts of mine through the Card you have issued to me. I agree that the uses of the Card described in the Agreement shall be subject to the rules and regulations of each account which is accessed by such Card. 2. Liability for Unauthorized Transactions. I agree to contact you at once if I believe the Card(s) issued to me or my PIN has been lost or stolen or money is missing from my account(s). I also agree that if my monthly statement shows transactions which I did not make, and I do not contact you within thirty (30) days after the statement was mailed to me, I may not get back any money lost after that time. I agree that if the Card and/or PIN is given to someone other than the individual named on the card, they are authorized to act on behalf of the company and the company will be responsible for any use of the Card(s) by them. 3. How to Contact You. I agree to contact your Customer Service Center immediately if I believe the Card issued or the PIN has been lost or stolen or that an unauthorized purchase from any of my accounts has occurred or might occur by phoning a local branch during business hours or by phoning and confirming such information in writing (within seven (7) days) to you at: ESSA Bank & Trust Debit Card Dept. 200 Palmer Street, PO Box L Stroudsburg, PA (570) (if out of the area, call toll-free (800) ) 4. Charges. I agree to pay the charges and/or transaction fees which are charged by you for these services or for services which may later be offered as such fees or charges may be imposed or changed from time to time. 5. Card Restrictions. Any financial service provided by ESSA Bank & Trust may be used for any transaction permitted by law. I agree not to use my Card for any transaction that is illegal under applicable federal, state, or local law. I agree that illegal use of any financial service will be deemed an action of default or breach of contract. Use of any financial service in a manner not permitted by law may cause that service or related services to be terminated at ESSA Bank & Trust s discretion. I further agree, should illegal use occur, to waive any right to sue ESSA Bank & Trust for such illegal use or any activity directly or indirectly related to it. Additionally, I agree to indemnify and hold ESSA Bank & Trust harmless from any suits or other legal action or liability, directly or indirectly, resulting from such illegal use. 6. Amendment of this Agreement. I agree that from time to time you may amend or change the terms of this Agreement including amendments or changes to add further Card services or to amend or change the charges for these services. You may do so by notifying me in writing of such amendments or changes and my use of the Card after the effective date of any such amendment or change shall constitute my acceptance of and agreement to such amendment or change. 7. Ownership and Closed Accounts. I agree that the Card is your property, and I will surrender it to you upon your request. I agree that the Card is non-transferable. Closing my accounts may cause you to place a temporary hold on some of the remaining funds in my/our account. I understand that you do not reveal the length of the hold period for security reasons. Funds Availability Policy Disclosure Purpose of this Disclosure The information here describes our policy of holding deposited items in an account before funds are made available to you for withdrawal. This is our Funds Availability Policy. In summary, our policy is to make your funds available on the first Business Day after the day of deposit. Please refer to the section DETERMINING THE AVAILABILITY OF YOUR DEPOSIT for the complete policy. For purposes of this disclosure, the terms you / your refer to the customer and the terms our / we / us refer to ESSA Bank & Trust. The term account includes any demand deposit, negotiable order of withdrawal account, savings deposit, money market account or other non-time deposit account. Determining the Availability of Your Deposit The length of the delay varies depending on the type of deposit and is explained below. When we delay your ability to withdraw funds from a deposit, you may not withdraw the funds in cash, and we will not pay checks you have written on your account by using these funds. 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. 11

13 When we delay your ability to withdraw funds, the length of the delay is counted in Business Days from the day of your deposit. The term Business Day means any day other than a Saturday, Sunday or federally declared legal holiday, and the term Banking Day means that part of any Business Day on which we are open to the public for carrying on substantially all of our banking functions. If you make a deposit before the close of business on a Business Day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after the close of business or on a day that we are not open, we will consider the deposit made on the next Business Day we are open. Availability Schedule Same Day Availability. Funds from electronic direct deposits to your account will be available on the day we receive the deposit. In addition, funds from deposit of cash (if made in person to an employee of ESSA Bank & Trust*), wire transfers, U.S. Treasury checks (if payable to you and deposited into your account), and checks drawn on us will also be available on the day of deposit. Next Day Availability. Funds from deposits of U.S. Postal Service Money Orders (if payable to you and deposited into your account, and the deposit is made in person to an employee of ESSA Bank & Trust*), Federal Reserve Bank or Federal Home Loan Bank checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of ESSA Bank & Trust*), State or Local Government checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of ESSA Bank & Trust 1 ), and Cashier s, Certified, or Teller s checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of ESSA Bank & Trust*) are available on the first Business Day after the day of your deposit. Other Check Deposits. Funds from all other check deposits will be available on the first Business Day after the day of the deposit. Holds on Other Funds for Check Cashing If we cash a check for you that is drawn on another financial institution, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it, and we decided to delay availability on the deposit. Holds on Other Funds in Another Account If we cash a check for you that is drawn on another financial institution, 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, and we decided to delay availability on the deposit. Longer Delays May Apply In some cases, we will not make all of the funds that you deposit by check available to you according to the previously stated availability schedule. Depending on the type of check that you deposit, funds may not be available until the first Business Day after the day of your deposit. The first $5, of your deposits, however, may be available on the first Business Day after the day of deposit. If we are not going to make all of the funds from your deposit available to you according to the previously stated availability schedule, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice by the day after we receive your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available. Funds you deposit by check may be delayed for a longer period under the following circumstances: (a) if we believe a check you deposit will not be paid; (b) if you deposit checks totaling more than $5, on any one day; (c) if you redeposit a check that has been returned unpaid; (d) if you have overdrawn your account repeatedly in the last six (6) months; or (e) if an emergency condition arises that would not enable us to make the funds available to you, such as the failure of computer or communications equipment. We will notify you if we delay your availability 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 fifth Business Day after the day of your deposit. If you will need the funds from a deposit right away, you should ask us when the funds will be available. Special Rules for New Accounts If you are a new customer, the following special rules will apply during the first thirty (30) days your account is open. Same Day Availability. Funds from electronic direct deposits, cash (if made in person to an employee of ESSA Bank & Trust*) and wire transfers made to your account will be available on the day we receive the deposit. In addition, the first $5, of a day s total deposits of U.S. Treasury checks (if payable to you and deposited into your account), Traveler s Checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of ESSA Bank & Trust*), and checks drawn on us will also be available on the day of deposit. 1 If you do not make your deposit in person to one of our employees (for example, if you mail the deposit), funds from these deposits will be available no later than the second Business Day after the day of your deposit. 12

14 Next Day Availability. Funds from the first $5, of a day s total deposits of U.S. Postal Service Money Orders (if payable to you and deposited into your account, and the deposit is made in person to an employee of ESSA Bank & Trust*), Federal Reserve Bank or Federal Home Loan Bank checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of ESSA Bank & Trust 1 ), State or Local Government checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of ESSA Bank & Trust*), and Cashier s, Certified, or Teller s checks (if payable to you and deposited into your account, and the deposit is made in person to an employee of ESSA Bank & Trust*) are available on the first Business Day after the day of your deposit. Funds from all other check deposits will be available on the ninth Business Day after the day of your deposit. Foreign Checks Checks drawn on financial institutions outside of the U.S. (foreign checks) cannot be processed the same as checks drawn on U.S. financial institutions. Foreign checks are exempt from the policies outlined in this disclosure. Generally, the availability of funds from deposits of foreign checks will be delayed for the time it takes us to collect the funds from the financial institutions upon which they are drawn. 1 If you do not make your deposit in person to one of our employees (for example, if you mail the deposit), funds from these deposits will be available no later than the second Business Day after the day of your deposit. The excess over $5, will be available on the ninth Business Day after the day of deposit. 13

15 OTHER SERVICES (products/services are not FDIC insured) Asset Management & Trust Services 1 ESSA offers the following Asset Management & Trust Services: Investment Management IRA Rollovers/Transfers Trusts (Revocable, Charitable, Endowment, Under Will) Guardianships Agency for Executors/Trustees To speak with a Trust Officer, please call (570) or visit our website at and click on the Trust Officer link under the Trust Services tab. Investment Services ESSA Investment Services 2 offer the following: IRA Rollovers/Transfers Fixed Annuities Variable Annuities General Securities -Stocks -Bonds (Municipal, Government & Corporate CDs) -CMOs (Collateralized Mortgage Obligations) -Immediate Annuities Life Insurance Money Funds Mutual Funds Advisory Services To speak with an Investment Advisor, please call (570) or visit our website at and click on the Financial Consultants link under the Investment tab. Advisory Services 3 ESSA Advisory Services offer the following: Group and Individual Medical Plans Group Dental and Vision Plans Group Life, Short- and Long-Term Disability Section 125 Plans Retirement Plans - Pension, Profit Sharing, SEP, 401K, Deferred Comp Voluntary Benefits Corporate-Paid Long-Term Care Keyman Insurance Business Succession Planning Estate Planning COBRA Administration Health Reimbursement Arrangements To speak with a benefits consultant, please call (484) or visit our website at and click on the Advisory Services Team link under the Advisory Services tab. 1 Products offered by Asset Management & Trust Not FDIC insured May go down in value Not financial institution guaranteed Not a deposit Not insured by any federal government agency. 2 Cetera Investment Services LLC is an independent, registered broker-dealer member FINRA/SIPC Securities and insurance products offered by Cetera Investment Services are: Not FDIC insured May go down in value Not Bank guaranteed Not a Bank deposit Not insured or guaranteed by any government agency. Advisory services may only be offered by Investment Advisor Representatives in connection with an appropriate Cetera Investment Services Agreement and disclosure brochure as provided. 3 ESSA Advisory Services, LLC is a subsidiary of ESSA Bank & Trust. Products offered by ESSA Advisory Services are not a deposit, not FDIC insured, not insured by any federal government agency and not guaranteed by ESSA Bank & Trust. Investment products may go down in value. 14

16 200 Palmer Street PO Box L Stroudsburg, PA (570) (800) ESSA Bank & Trust All rights reserved.