Guide to Accounts and Services

Transcription

1 Guide to Accounts and Services Including: Account Agreement and Disclosure Terms and Conditions Arbitration Provision Funds Availability Policy Electronic Funds Transfer Service Disclosure and Agreement Effective January 1, 2013

2 Table of Contents Introduction...1 Changes To Agreement...1 Account Agreement and Disclosure...2 CONSUMER SERVICES...2 Checking Accounts...2 Value Checking...2 Regular Checking...2 Interest Checking...3 Investor s Money Market Checking...3 Regular Savings Accounts...4 Gold Money Market Savings...5 BUSINESS SERVICES...7 Business Checking Accounts...7 Checking for Small Business...7 Business Checking...7 Interest Checking for Businesses and Non-profits...7 Analyzed Business Checking (Account Analysis)...8 Addendum for Checking Accounts...9 Regular Savings for Business...9 Business Money Market Savings...10 CD S AND RETIREMENT PLANS...11 Certificates of Deposit / Jumbo Certificates Month Retirement Plans...13 Profit Sharing / Money Purchase / Traditional IRA / Roth IRA / Education IRA / IRA Rollover / Simplified Employee Pension Plans (SEP)...13 Ownership of Accounts...14 Individual Accounts...14 Multiple Party Accounts...14 Individual and Joint Trustee Accounts...15 Fiduciary Accounts...15 Uniform Transfer to Minor Accounts...15 Business Accounts...16 Notice of Withdrawal...16 Payment of Interest...16 Account Terms and Conditions...16 Account Conversions...16 Adverse Claims...16 Application of Deposits Including Government Benefit Payments...17 Cash Transactions...17 Cashier s Checks...18 Change of Address, Name and Authorized Signer...18 Checks Bearing limiting Notations...18

3 Checks Containing Contradictory Terms...19 Checks More Than Six Months Old...19 Claim of Loss...19 Closing or Suspending Accounts...20 Cutoff Hour for Legal Process and Stop Payments...20 Death or Incompetence...20 Demand Drafts...21 Deposits to Accounts...21 Digital Check Images...21 Dormant Accounts and Escheat...22 Early Account Closure...22 Electronic Re-Presentment...22 Endorsements/Back of Check...23 Examining Checks and Other Statement Entries...23 Facsimile Transmission of Information...24 Federal Deposit Insurance...24 Foreign Checks...24 Identification of Presenter...25 Items Resulting from Voluntary Disclosure of Account Information...25 Joint Accounts...25 Legal Process...25 Lost Items...26 Multiple Signature Accounts...26 Non-Sufficient Funds (NSF), Overdrafts and Uncollected Funds (Standard Overdraft Practices)...26 Opt-in for Every Day Debit Card and ATM Overdraft Consideration...27 Postdated Checks...28 Power of Attorney...28 Preauthorized Savings Transfer to Cover Overdrafts...28 Printed Checks / Deposit Slips...29 Privacy...29 Processing of Items and Transactions...30 Refusal of Checks...30 Returned Items...30 Right of Setoff...32 Safeguarding Checks...32 Schedule of Fees and Charges...32 Severability...33 Signatures...33 Statements...33 Stop Payment Order...34 Taxpayer information...35 Third-Party Endorsements...37 Transferring Ownership...37

4 Unlawful Internet Gambling Enforcement Act...37 Waiver...37 Arbitration Provision for Our Account Agreement...38 Your Ability to Withdraw Funds...41 Longer Delays May Apply on a Case-by-Case Basis...41 Extended Exceptions...42 Special Rules for New Accounts...42 Electronic Fund Transfer Service...43 Gold Miner Card /Visa Check Card...43 ATM Networks...44 Point of Sale and VISA Purchase Transactions...44 Electronic Check Conversions...45 Personal Identification Number (PIN)...46 Customer Liability for Lost Card,PIN,Check Information or for an Unauthorized EFT...46 Documentation of ATM Transactions...47 ATM Safety...47 Gold Miner /VISA Check Card Fees...48 VISA Check Card Foreign Currency Transactions...48 Unlawful Card Use...49 Inactive Gold Miner and VISA Check Cards Hour Telephone Banking...49 Transferring Funds with the 24 Hour Telephone Banking Services...50 To Block Your Account from Telephone Access Hour Telephone Banking Service Charges & Privileges...50 Internet Banking...50 Mobile Banking...51 Preauthorized Electronic Payments and Deposits...51 Your Right to Stop Payment of Preauthorized ACH Transfers...52 Service Charges For Preauthorized Payments and Deposits...53 Our Liability To Complete Transactions...53 Disclosure of Account Information to Third Parties...54 Errors Or Questions About Your Electronic Transfers...54 Wire Transfer Service...55 Fedwire...56 Fees and Charges...56 Outgoing Wire Transfer Payment Orders...56 Payment Order Initiation and Authorized Representatives...57 Incoming Wire Transfers...58 El Dorado Savings Bank Business Days...58

5 Introduction Welcome to El Dorado Savings Bank and thank you for opening an account. Please read this Guide to Accounts and Services carefully and keep it for your records. The Guide to Accounts and Services and the Schedule of Fees and Charges are part of the contract between you and us for your deposit relationship with us (Agreement). When you open an account and sign our Signature Card, you and each authorized signer on your account agree that the account and any other personal accounts you have with us are subject to this Agreement, to related fees and service charges, and to our policies and practices. This Agreement supersedes all previous Agreements. Your rights and obligations under this Agreement are governed by the laws of the State of California, the State of Nevada if your account is with a Nevada Branch, and federal law. If state and federal law are inconsistent, federal law governs. Throughout this Agreement, the words you, your, and yours refer to each account owner, El Dorado Savings Bank, Bank, we, us, and our refer to El Dorado Savings Bank. We provide a copy of this Agreement to you when you open your account. You may obtain additional copies at our branch offices or by calling our Customer Service Department at Changes To Agreement We may change this Agreement at any time. For example, we may add new terms and conditions and we may delete or amend existing terms and conditions. We generally send advance notice to you of the change. If a proposed change is favorable to you, however, we may make the change at any time without advance notice. Your continued use of your account or your permitting it to remain open is indication of your acceptance of the change. 1

6 Account Agreement and Disclosure C O N S U M E R S E R V I C E S Checking Accounts Value Checking Minimum balance to open this account is $50. There is no minimum balance fee imposed on this account. This is a non-interest bearing account. This account provides electronic delivery of your monthly statement through our Internet Banking Service. If you want a monthly paper statement on this account with digital images of your checks, there will be a monthly fee of $3 as indicated in our Schedule of Fees and Charges. If there is no activity on your Value Checking account for any monthly statement cycle and your minimum balance for the cycle is less than $300 your account will be charged a $3 inactivity fee. To avoid this fee you must maintain a minimum balance of more than $300 or make sure that there is some activity on the account such as any deposit or withdrawal or any debit card or Gold Miner ATM card transaction. Additional disclosures for your account are included in the other documents provided to you along with this Guide to Accounts and Services. Regular Checking Minimum balance to open this account is $100. A minimum balance fee of $7 will be imposed every statement cycle if the balance in the account falls below $500 any day of the cycle. There is no minimum balance fee when you maintain the direct deposit of your payroll payments into your Regular Checking account. This is a non-interest bearing account. Additional disclosures for your account are included in the other documents provided to you along with this Guide to Accounts and Services. 2

7 Interest Checking Minimum balance to open this account is $100. Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account daily without notice. Interest begins to accrue on the day of deposit if the deposit is made on a business day. Saturday is not considered a business day for the purpose of interest accrual on a deposit. Interest is payable up to but not including the day of withdrawal. Interest will be compounded every month and will be credited to your account every month. You must maintain a minimum balance of $500 in the account each day to obtain the disclosed annual percentage yield. No interest is earned for any day in which the balance of the account falls below $500. A minimum balance fee of $8 will be imposed every statement cycle if the account falls below $1,000 any day of the cycle. Seniors (aged 55 and over) pay no minimum service charge regardless of balance. There is a limit of one account per senior. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Additional disclosures for your account are included in the other documents provided to you along with this Guide to Accounts and Services. Investor s Money Market Checking Minimum balance to open this account is $5,000. Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account daily without notice. Interest begins to accrue on the day of deposit if the deposit is made on a business day. Saturday is not considered a business day for the purpose of interest accrual on a deposit. Interest is payable up to but not including the day of withdrawal. 3

8 Interest will be compounded every month and will be credited to your account every month. The interest rate and annual percentage yield are variable and tiered according to the following structure: Rate tier 1:...$5,000 - $14,999 Rate tier 2:...$15,000 - $24,999 Rate tier 3:...$25,000 - $49,999 Rate tier 4:...$50,000 - $99,999 Rate tier 5:...$100,000 and above Your account will earn at the rate and annual percentage yield in effect for the rate tier in which your balance falls at the close of each business day. No interest is paid on balances below $5,000. We use the minimum daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. A minimum balance fee of $15 will be imposed for every statement cycle if the average daily balance of the account falls below $5,000 any day of the cycle. This account offers the following benefits: El Dorado Savings Bank will waive the fees we normally charge for withdrawals and inquiries at other institutions ATMs. Surcharge reimbursement up to $10 per monthly cycle. El Dorado Savings Bank will credit your account up to $10 for surcharges assessed by other financial institutions when you use their ATMs. Additional disclosures for your account are included in the other documents provided to you along with this Guide to Accounts and Services. Regular Savings Accounts Minimum balance to open this account is $100. Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account daily without notice. Interest begins to accrue on the day of deposit if the deposit is made on a business day. Saturday is not considered a business day for the purpose of interest accrual on a deposit. Interest is payable up to but not including the day of withdrawal. 4

9 Interest will be compounded every month and will be credited to your account every month. You must maintain a minimum balance of $300 in the account each day to obtain the disclosed annual percentage yield. No interest is earned for any day in which the balance of the account falls below $300. A minimum balance fee of $3 will be imposed every month if the balance of the account falls below $300 any day during the month (This fee will be waived for minors and on accounts held in trust for minors). You must maintain a minimum balance of $10 in your account or the account may be closed. An early closure fee, if applicable, will be charged as indicated in our Schedule of Fees and Charges. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Cash withdrawals, and transfers from your regular savings account, may be made at any time, without limitation, at any branch location, ATM or shared network ATM as long as you have sufficient available funds in your account. A Consumer Regular Savings account may be linked to a consumer checking account with the same ownership to cover overdrafts. See the Preauthorized Savings Transfer to Cover Overdrafts section and the Opt-In for Everyday Debit Card and ATM Overdraft Consideration (Consumer Accounts only) section in this Guide to Accounts and Services for details. Additional disclosures for your account are included in the other documents provided to you along with this Guide to Accounts and Services. Gold Money Market Savings Minimum balance to open this account is $5,000. Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account daily without notice. Interest begins to accrue on the day of deposit if the deposit is made on a business day. Saturday is not considered a business day for the purpose of interest accrual on a deposit. Interest is payable up to but not including the day of withdrawal. 5

10 The interest rate and annual percentage yield are variable and tiered according to the following structure: Rate tier 1:...$5,000 - $14,999 Rate tier 2:...$15,000 - $24,999 Rate tier 3:...$25,000 - $49,999 Rate tier 4:...$50,000 - $99,999 Rate tier 5:...$100,000 and above Your account will earn at the rate and annual percentage yield in effect for the rate tier in which your balance falls at the close of each business day. No interest is paid on balances below $5,000. Interest will be compounded every month and will be credited to your account every month. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Cash withdrawals, and transfers from your Gold Money Market Savings Account, may be made at any time, without limitation, at any branch location, ATM or shared network ATM as long as you have sufficient available funds in your account. A minimum balance fee of $15 will be imposed every month if the average daily balance in your Gold Money Market Savings Account falls below $5,000. A Gold Money Market Savings account may be linked to a consumer checking account with the same ownership to cover overdrafts. See the Preauthorized Savings Transfer to Cover Overdrafts section and the Opt-In for Everyday Debit Card and ATM Overdraft Consideration (Consumer Accounts only) section in this Guide to Accounts and Services for details. Additional disclosures for your account are included in the other documents provided to you along with this Guide to Accounts and Services 6

11 B U S I N E S S S E R V I C E S Business Checking Accounts Checking for Small Business Minimum balance to open this account is $100. A minimum balance fee of $8 plus a fee of $0.25 for each check processed in excess of 50 will be imposed every statement cycle if the balance in the account falls below $1,500 any day of the cycle. This is a non-interest bearing account. Additional disclosures for your account are included in the other documents provided to you along with this Guide to Accounts and Services. Business Checking Minimum balance to open this account is $100. A minimum balance fee of $10 plus a fee of $0.25 for each check processed in excess of 100 will be imposed every statement cycle if the balance in the account falls below $2,000 any day of the cycle. This is a non-interest bearing account. Additional disclosures for your account are included in the other documents provided to you along with this Guide to Accounts and Services. Interest Checking for Businesses and Non-profits This account is restricted to non-profits, sole proprietors and government agencies. Minimum balance to open this account is $100. Your interest rate and annual percentage yield may change at our discretion; we may change the interest rate on your account daily without notice. Interest begins to accrue on the day of deposit if the deposit is made on a business day. Saturday is not considered a business day for the purpose of interest accrual on a deposit. Interest is payable up to but not including the day of withdrawal. Interest will be compounded every month and credited to your account every month. You must maintain a minimum balance of $2,500 each day to obtain the disclosed annual percentage yield. No interest is earned for any day in which the balance of the account falls 7

12 below $2,500. A minimum balance fee of $15 plus a fee of $0.25 per check processed in excess of 100 will be imposed every statement cycle if the balance in the account falls below $2,500 any day of the cycle. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Additional disclosures for your account are included in the other documents provided to you along with this Guide to Accounts and Services. Analyzed Business Checking (Account Analysis) Minimum balance to open this account is $100. This is a non-interest bearing account. A monthly maintenance fee of $15 plus standard analysis charges apply to your account. Standard analysis charges are outlined in the Business Banking brochure provided to you upon the opening of your account or notification that your account has become subject to Account Analysis. The maintenance fee plus standard analysis charges may be offset by an earnings credit based upon the collected balance in your account. An earnings credit is calculated if the average daily collected balance in a statement cycle period is $1,000 or more. See the Account Analysis disclosure brochure for details regarding the earnings credit calculation. If an earnings credit is calculated for your account in a statement cycle, it is not interest and will not be posted to your account. The earnings credit is used only to offset the maintenance fee and standard analysis charges accrued in that statement cycle. Any excess earning credit may not be carried forward to subsequent statement cycles. Additional disclosures for your account are included in the other documents provided to you along with this Guide to Accounts and Services. 8

13 Addendum for Checking Accounts Checking accounts consist of a checking sub account and a savings sub account. The Bank may periodically transfer funds between these two sub accounts. If your account is a type on which interest is paid, your interest calculation will remain the same. Otherwise, the savings sub account will be non-interest bearing. The savings sub account will be governed by the rules governing our other savings accounts. This process will not affect your available balance, the interest you earn, FDIC insurance, or your monthly statement. Regular Savings for Business Minimum balance to open this account is $100. Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account daily without notice. Interest begins to accrue on the day of deposit if the deposit is made on a business day. Saturday is not considered a business day for the purpose of interest accrual on a deposit. Interest is payable up to but not including the day of withdrawal. Interest will be compounded every month and will be credited to your account every month. You must maintain a minimum balance of $300 in the account each day to obtain the disclosed annual percentage yield. No interest is earned for any day in which the balance of the account falls below $300. A minimum balance fee of $3 will be imposed every month if the balance of the account falls below $300 any day during the month (This fee will be waived for minors and on accounts held in trust for minors). You must maintain a minimum balance of $10 in your account or the account may be closed. An early closure fee, if applicable, will be charged as indicated in our Schedule of Fees and Charges. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. You are permitted six preauthorized or third-party transfers from your regular savings account each month. Three of these may be Point-of-Sale transactions or similar orders. 9

14 Telephone transfers using a customer service representative, and electronic transfers initiated through our Internet Banking Service or 24 Hour Telephone Banking Service are included in the six transfers per month limit. Preauthorized transfers to cover an overdraft in your linked checking account are also subject to the six per month limit and a per transfer fee (See our Schedule of Fees and Charges). Preauthorized transfers from your regular savings account to pay debts owed to the bank are permitted without limitation. Cash withdrawals, and transfers from your regular savings account, may be made at any time, without limitation, at any branch location, ATM or shared network ATM as long as you have sufficient available funds in your account. Additional disclosures for your account are included in the other documents provided to you along with this Guide to Accounts and Services. Business Money Market Savings Minimum balance to open this account is $5,000. Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account daily without notice. Interest begins to accrue on the day of deposit if the deposit is made on a business day. Saturday is not considered a business day for the purpose of interest accrual on a deposit. Interest is payable up to but not including the day of withdrawal. Interest will be compounded every month and will be credited to your account every month. The interest rate and annual percentage yield are variable and tiered according to the following structure: Rate tier 1:...$5,000 - $14,999 Rate tier 2:...$15,000 - $24,999 Rate tier 3:...$25,000 - $49,999 Rate tier 4:...$50,000 - $99,999 Rate tier 5:...$100,000 and above Your account will earn at the rate and annual percentage yield in effect for the rate tier in which your balance falls at the close of each business day. No interest is paid on balances below $5,000. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the 10

15 principal in the account each day. A minimum balance fee of $15 will be imposed every statement cycle if the average daily balance of the account falls below $5,000 any day of the cycle. You are permitted six preauthorized transfers from your Business Money Market Savings Account each month. Telephone transfers using a customer service representative, and electronic transfers initiated through our 24 Hour Telephone Banking Service are included in the six transfers per month limit. For each transaction that exceeds these limits we will charge you an Excess Transaction Fee of $15. Preauthorized transfers to cover an overdraft in your linked checking account are also subject to the six per month limit and a per transfer fee (See our Schedule of Fees and Charges). Preauthorized transfers from your Business Money Market Savings account to pay debts owed to the bank are permitted without limitation. Cash withdrawals, and transfers from your Business Money Market Savings account, may be made at any time, without limitation, at any branch location, ATM or shared network ATM as long as you have sufficient available funds in your account. Additional disclosures for your account are included in the other documents provided to you along with this Guide to Accounts and Services. CDS A N D R E T I R E M E N T P L A N S Certificates of Deposit / Jumbo Certificates A Certificate of Deposit is not transferable. El Dorado Savings Bank offers Certificates of Deposit and Jumbo Certificates of Deposit for terms ranging from one month to five (5) years. The provisions of this disclosure apply to both Certificates of Deposit and Jumbo Certificates of Deposit. The minimum balances to open requirements associated with Certificates of Deposit are set forth in the accompanying Savings Rate Sheet. Jumbo Certificates of Deposit require a minimum balance to open of $99,000. You must maintain at least the minimum balance set forth in the Savings Rate Sheet, for the term selected, to keep the account open. 11

16 Your account will mature at the end of the term as disclosed to you in your Certificate of Deposit. Interest begins to accrue on the day of deposit if the deposit is made on a business day. Saturday is not considered a business day for the purpose of interest accrual on a deposit. You will be paid the disclosed interest rate until the maturity date of your account. Interest will be compounded every month and will be credited to your account monthly and upon maturity. Interest is payable up to but not including the day of withdrawal. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. This account will automatically renew at maturity. You will have seven calendar days from the maturity date to withdraw your funds without being charged a penalty. After the account is opened, you may not make deposits into, or withdraw principal from, the account until the maturity date. In the event of any withdrawal of principal from this account prior to the maturity date, you will forfeit an amount equal to the following, regardless of the length of time the funds withdrawn have remained in the account: Term Early Withdrawal Penalty Less than 3 months All interest paid, credited or accrued on the amount withdrawn from the most recent of the date of deposit or the date of renewal. 3 to 12 months Three months interest, whether earned or not, on the amount withdrawn at the nominal interest rate being paid on the account. More than one year Six months interest, whether earned or not, on the amount withdrawn at the nominal interest rate being paid on the account. If you make a withdrawal from the account, which reduces the balance below the minimum balance requirement, the account will be closed and the penalty will be imposed on the entire balance. 12

17 Any annual percentage yield disclosed assumes the interest remains on deposit until maturity and that you always satisfy the minimum balance requirements. Additional disclosures for your account are included in the Certificate of Deposit and other documents provided to you along with this Guide to Accounts and Services. 18 Month Retirement Plans Profit Sharing / Money Purchase / Traditional IRA / Roth IRA / Education IRA / IRA Rollover / Simplified Employee Pension Plans (SEP) Minimum balance to open this account is $250. You will be paid the disclosed interest rate until the maturity date of your account. Interest will be compounded annually, and will be credited to your account at year end and at maturity. Interest begins to accrue on the day of deposit if the deposit is made on a business day. Saturday is not considered a business day for the purpose of interest accrual on a deposit. Interest is payable up to but not including the day of withdrawal. You may make deposits into this account. Minimum deposit amount is $10. You may not make withdrawals from this account until the maturity date. This account will automatically renew at maturity. You will have seven calendar days from the maturity date to withdraw your funds without being charged a penalty. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. If any of the deposit is withdrawn before the maturity date, a penalty of an amount equal to six months of interest, whether earned or not will be imposed. This penalty will not be imposed for a withdrawal following the death, or adjudication of incompetence of the account holder, or for periodic distribution if the account holder has attained the age of 59 1/2 or is disabled. In addition, if there is a premature distribution from your account before you reach the age of 59 1/2 you may be subject to a penalty tax by the federal and/or state government. You should check with your accountant before you take a premature distribution from your retirement 13

18 account. Additional disclosures for your account are included in the other documents provided to you along with this Guide to Accounts and Services. Ownership of Accounts Individual Accounts An individual account is an account in the name of one depositor only. Only that person may write checks against the account or withdraw money, regardless of who actually owns the funds. Multiple Party Accounts Joint Tenants With Right of Survivorship If your account is a joint account with right of survivorship, upon the death of one of the joint account holders, that person s ownership interest in the account will immediately pass to the other joint account holder(s). Joint as Tenants in Common If your account is a multiple party account without right of survivorship, upon the death of one of the account holders, that person s ownership interest will pass to the estate of the deceased account holder. Unless that account record reflects otherwise, each account holder will be deemed to own an equal percentage of the funds in the account. Community Property Account If your account is a community property account, the funds in your account are specified to be the community property of the named parties, who must be husband and wife. The ownership during the lifetime and after the death of a spouse is determined by state community property law and may be affected by a will. Each multiple party account holder, without the consent of any other account holder, may and hereby is authorized by every other account holder, to make any transaction permitted under the terms of the Signature Card and Guide to Accounts and Services. Each multiple party account holder is authorized to act for the other account holder(s) and we may accept orders and instructions regarding the account from any account holder, subject to the signature requirements on the Signature Card. Your obligations under the terms of the Signature Card and Guide to Accounts and Services are joint and several. 14

19 This means that each account holder is fully and personally obligated under the terms of the Signature Card and Guide to Accounts and Services, including liability for overdrafts and debit balances Further, the account is subject to the right of setoff. Individual and Joint Trustee Accounts ( Totten Trusts ) A trust account is an account payable to the account holder(s) (trustee(s)) during their lifetime(s) and to a designated beneficiary(ies) upon the trustee(s) death. As the trustee(s) of the account, you may withdraw money from the account and may, by written direction to us, change the beneficiary under the account. When the trustee(s) dies, the account is owned by the beneficiary. If the account is held by more than one trustee, the rules pertaining to ownership as Joint Tenants set forth above, will apply. If there is no surviving beneficiary upon the death of the last trustee, state law will determine the ownership of the funds in the account. Fiduciary Accounts Fiduciary accounts are opened by a person acting in a fiduciary capacity. This account may be opened and maintained only by a person or persons named as trustee(s) under written trust agreements or as executors, administrators, conservators and guardians under court orders. You will be asked to complete a Trust Certification, which gives the Bank the specifications under which to open the account. Other documentation may be required. Uniform Transfer to Minor Accounts If you have established the account as a custodian for a minor beneficiary under the California or Nevada version of the Uniform Transfer to Minors Act or the Uniform Gifts to Minors Act, your rights and duties are governed by the Act. You will not be allowed to pledge the account as collateral for any loan to you. Deposits in the account will be held by us for the exclusive right and benefit of the minor. 15

20 Business Accounts If the account is owned by a corporation, partnership, sole proprietorship, unincorporated association, etc. then the account owner must provide us with evidence to our satisfaction of the authority of the individuals who sign the signature card to act on behalf of the account owner. Notice of Withdrawal El Dorado Savings Bank reserves the right to require at least seven (7) days advanced notice in writing prior to each withdrawal from an interest bearing account other than a Certificate of Deposit. Payment of Interest As an alternative to having interest credited to your account as stated, you may request that interest be payable monthly, quarterly, semiannually or annually by transfer to an El Dorado Savings Bank Checking Account or Savings Account. The disclosed annual percentage yield assumes that principal and interest remain on deposit until maturity. A withdrawal of interest reduces the annual percentage yield earned on the account. Account Terms and Conditions Account Conversions We may either close or convert your account to another type of account when we consider it appropriate or necessary to do so. For example, we may close your account, revoke privileges, or convert your account to another account type if you make frequent transactions on a money market account, if your account has excessive deposit activity or if you use a personal account for business purposes. If we convert your account, we will send you information about your new account. Adverse Claims If a dispute arises over any person s authority to give us instructions concerning your account, we may require the signatures of all authorized signers on any checks and other instructions. Whether the dispute involves authorized signers, account holders, or third parties, we may also freeze the account until we receive evidence satisfactory 16