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Disclosure of Account Terms

Effective October 1, 2005

NOW CHECKING ACCOUNT

NOW checking accounts are accounts for which the bank may at any time require prior written notice of intent to withdraw, but until such notice is required, withdrawals may be made at any time. All NOW Accounts are limited to individuals, certain non-profit organizations and governmental units. The bank pays interest on these accounts.

Your annual percentage yield and interest rate may change on your account at our discretion at any time.

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. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items. Interest will be compounded and credited on a monthly basis. If you close your account before interest is credited, you will not receive the accrued interest.

*You must deposit $100.00 to open this account.

The annual percentage yield assumes interest will remain on deposit. A withdrawal will reduce earnings.

**A minimum balance fee of $15.00 will be imposed every statement period if the balance in the account falls below $1,000.00 any day of the statement period.

VALUE CHECKING

YOUR MINIMUM DEPOSIT, TIME AND BALANCE REQUIREMENTS:

To open this account, you must deposit at least $100.00.

ADDITIONAL FEES AND TERMS FOR THIS ACCOUNT:

A $ 6.00 service fee per statement cycle applies. To avoid the service fee you must have a monthly electronic direct deposit or maintain a deposit account or loan with a minimum average daily balance of at least $1,000.00. A $. 25 charge per check/in-house over the counter debit memo (item) will be assessed after 25 items clear in a statement period. Automated Clearing House (ACH) and Check Card transactions are not counted toward the 25 free items per statement cycle.

CHRISTMAS CLUB SAVINGS

Christmas Club Savings is an account you generally may -NOT- make withdrawals from. The balance plus the interest earned will be mailed to you or directly deposited each October. This account can remain open to allow continued deposits after each October disbursement.

Your annual percentage yield and interest rate may change on your account at our discretion at any time. 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. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items. Interest will be credited on the day the checks are issued in October.

The annual percentage yield assumes that interest will remain on deposit.

STATEMENT SAVINGS ACCOUNTS

YOUR MINIMUM DEPOSIT, TIME AND BALANCE REQUIREMENTS:

To open this account, you must deposit at least $100.00.

A minimum balance fee of $7.50 will be imposed every statement period if the daily balance in the account falls below $100.00 any day of the statement period.

If you are under the age of 18 (minor):

To open this account, you must deposit at least $20.00.

A minimum balance fee of $7.50 will be imposed every statement period if the daily balance in the account falls below $20.00 any day of the statement period.

HOW TRANSACTIONS ARE LIMITED:

You may make 4 withdrawals from your account each statement period in person. A fee of $2.50 will be imposed for each subsequent withdrawal during such period.

You may not make more than six (6) preauthorized (automatic) transfers and withdrawals from your account per calendar month including telephone and CFB Online Banking withdrawals.  A charge of $5.00 per item will be assessed after six (6) withdrawals in a statement cycle.

EASY ADVANTAGE INDIVIDUAL RETIREMENT ACCOUNT (IRA)

Easy Advantage IRA is a savings account for which the bank may at any time require prior written notice of intent to withdraw, but until such notice is required, withdrawals may be made at any time. The bank pays interest on this account.

Your annual percentage yield and interest rate may change on your account at our discretion at any time. Additional disclosures for your account with the current annual percentage yield (APY) and interest rate are included on the attached sheet.

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. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items. Interest will be compounded and credited on a monthly basis.

The APY assumes interest will remain on deposit. A withdrawal will reduce earnings. You must deposit $200.00 to open this account and obtain the stated APY.

* Withdrawals made before you attain the age of 59 ½ may incur IRS penalties.

MAXIMUM MONEY MARKET

The bank may at any time require prior written notice of intent to withdraw, but until such notice is required, withdrawals may be made at any time. The bank pays interest on this account.

Your annual percentage yield and interest rate may change on your account at our discretion at any time. 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. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items. Interest will be compounded and credited on a monthly basis. If you close your account before interest is credited, you will not receive the accrued interest. The annual percentage yield assumes interest will remain on deposit. A withdrawal will reduce earnings.

You must deposit $100.00 to open this account.

A minimum balance fee of $15.00 will be imposed every statement period if the balance falls below $1,000.00 any day of the statement period.

There are check writing limitations on this account. Under Federal Regulation, transfers from a Money Market Account to another account or to third parties by preauthorized, automatic or telephone transfer are limited to six per month . If this limitation is exceeded on a regular basis, we are required to convert your account to another account that permits unlimited check writing privileges. Withdrawals over 6 are subject to a $5.00 per withdrawal fee.

AGREEMENT AND DISCLOSURE FOR ELECTRONIC FUND TRANSFERS

1. Coverage . You have requested that we permit you to access an electronic funds transfer system and (if applicable) that we issue you an automated teller card, debit card, code or other device ("Card"). By requesting, receiving, signing, using, authorizing another to use or otherwise accepting the Card (including any replacement or substitute Card) or the electronic funds transfer system, you and any authorized users, agree to be bound by this Agreement. The electronic funds transfer system and the Card are collectively referred to in this Agreement as the "EFT System." This Agreement applies to all persons that are party to the accounts that are accessed through the EFT system. Every person who owns or is authorized to use the accounts is responsible for the use of the EFT system. In this Agreement, the terms "you" and "your" refer to each party to the account and to each authorized user, and the terms "us," "we," and "our" refer to the Bank. Transactions and accounts governed by this Agreement are also subject to applicable federal and Wisconsin laws and regulations and any other rules or agreements governing or referring to the transactions or accounts, including but not limited to account agreements, debit card rules, funds availability rules, depositor agreements and the Operating Rules of the National Automated Clearing House Association. Except as may be specifically indicated in this Agreement, in cases of inconsistency or conflict between the other rules or agreements and this Agreement, this Agreement shall control.

You authorize us to charge your account (s) for all authorized transactions resulting from the use of the EFT System or resulting from any other authorized transfers and you assume all responsibility and liability for all such transactions. All deposits, payments and transfers made through the use of the EFT System or by any other authorized transfer are subject to proof and verification by us. Deposits made after our cutoff time will be credited the following business day.

2. Authorized Use of Card and PIN. We will issue one or more personal identification number(s) ("PIN") to you for use in connection with the EFT System. You agree not to disclose the PIN to anyone other than authorized users of the EFT System. If anyone uses your Card or PIN with your permission, you will be responsible for any charges made to the account. You agree to safely keep the Card and PIN, not to record the PIN on the Card or otherwise disclose or make it available to anyone other than an authorized user, and to use the Card and PIN only at terminals that accept the Card and as instructed.

3. Liability Disclosure. Tell us AT ONCE if you believe your Card or PIN has been lost or stolen or if you believe there have been unauthorized transfers to or from your account. Telephoning is the best way of keeping your possible losses down. You can lose no more that $50 if someone used your Card and PIN without your permission to obtain money, property or services through an automatic teller machine or point of sale terminal, and in the case of Visa® or MasterCard® debit cards, your liability may be less pursuant to applicable Visa or MasterCard debit card rules. If there was any other unauthorized electronic funds transfer or series of transfers using the Card and if you tell us within two business days after you learn of the loss or theft of your Card, you can lose no more that $ 50.00 if someone used your card without your permission. If you do NOT tell us within two business days after you learn of the loss or theft of your Card and we can prove we could have stopped someone from using your Card without your permission if you had told us, you could lose as much as $ 500.00 . Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 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 will extend the time periods.

If you have a N/A debit card, then the following liability disclosures apply: N/A

4. Address and Telephone Number. If you believe your Card or PIN has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call 715-677-4523 or write:

Community First Bank 275 W GRAND AVE ROSHOLT WI 54473 .

5. Business Day Disclosure. For purposes of these disclosures, our business days are Monday through FRIDAY .

The following holidays are not included as business days: NEW YEARS DAY, MEMORIAL DAY, 4 TH OF JULY, LABOR DAY, THANKSGIVING, AND CHRISTMAS DAY .

6. Goods and Services Purchased. If a merchant accepts the Card in payment of goods or services, and you receive credit for goods returned or adjustments, the merchant will send us a credit slip. We will apply the credit slip as a credit to your account. We will not make cash refunds to you on purchases made with the Card. Unless your use of the Card results in a loan from us to you, you must raise any claim or defense with respect to goods or services purchased with your Card directly with the merchant who honored the Card.

7. Chargebacks. As to any transaction which (a) involves a sale of goods or services which is paid for directly through a terminal; (b) involves a transfer of $50 or more from a deposit account; and (c) does not involve a check or draft, we shall, upon receipt within three business days of the transmission of written or oral notice from you, reverse the transaction and recredit your account.

8. Terminal Malfunctions. Terminals and these services are available for your convenience and we are not liable for the unavailability or failure to operate of all or any part of a terminal. You release us from liability for personal injury or property damage incurred by you in connection with use of the Card or any terminal and consequential damages incurred in connection with the use of a card or terminal.

9. Termination. We may terminate your privilege of using the EFT System and we and/or Visa and/or MasterCard as applicable may withhold approval of any transaction at any time. The privilege of using the Card by any of you may be terminated by any one person who can use the accounts accessible with the Card. The Card is our property and shall be surrendered by you to us upon request and regardless of who terminates the Card privileges. Termination shall not affect the rights and obligations of the parties for transactions made with the EFT System before the privileges are terminated.

10. Account Access. You may make the following types of electronic funds transfers: (a) You may use your Card and PIN, when required, to accomplish the following transactions (some of these services may not be available at terminals.):

MAKE A DEPOSIT
MAKE A WITHDRAWAL
MAKE A PURCHASE
CHECK ACCOUNT BALANCE

(b) You may make the following other types of electronic funds transfers:

We permit electronic debit entries to your account originated by payees that convert a check drawn by you on your account into an automated clearing house debit.

11. Limitations on Transfers. (a) Under federal regulations you may make no more than 6 preauthorized, automatic or telephone (including data transmissions) transfers per month from each of your savings and money market deposit accounts and no more than three of the transfers and withdrawals may be payments by check, draft, debit card or similar order to third parties, including a transfer using a Card at a point-of-sale terminal. If a transfer from your account will cause you to exceed these limits, we may not execute the transfer. There are no other limitations on the amount or frequency of preauthorized transfers to or from your accounts. Transactions conducted with a Card at an automated teller machine do not count toward these limitations. Your account is subject to the following limitations, which may restrict your ability to make electronic funds transfers.

(b) The following specific limitations apply to the frequency and dollar amount of other types of transfers that you may make using your Card:

You may withdraw up to $300.00 from ATM terminals each day.

At point of sale terminals accepting your Card issued in connection with your deposit account, you may buy no more than $500.00 worth of goods or services each day.

Other terminals or terminal operators may have other limits on the amount and frequency of withdrawals or deposits.

(c) The following specific limitations apply to other types of electronic fund transfers that you may make:

For security reasons, there may be other limits on transfers you may make.

12. Overdrafts/Credit Account. Each withdrawal or transfer from an account is an order to us to pay from that account at that time, which we may charge against the account even though the charge creates an overdraft. The time required to charge or credit your account after you use your Card will depend on the location of the terminal and the type of transaction, however we reserve the right to charge your account immediately upon your request for the funds transfer. If you overdraw your account you agree to immediately pay us the overdrawn amount, together with any applicable fees. If the account is maintained in connection with an overdraft credit plan, any overdraft will be made in accordance with the agreement or rules governing that account rather than this Agreement. If any account is a credit account, such as a Visa card or MasterCard card account, you should refer to the agreement provided in connection with that account for your rights and responsibilities relating to transactions affecting that account in which the Card is used.

13. Charges for Transfers. We will charge you for electronic fund transfers the fees, if any, identified in our current fee schedule accompanying this Agreement, as may be amended from time to time. When you use a terminal not owned by us, you may be charged a fee by the terminal/network operator and you may be charged a fee for a balance inquiry even if you do not complete a funds transfer. You will be notified of any such fee when you use the terminal. You may also authorize a payee to electronically debit from your account a fee because a check you presented to the payee was returned for insufficient funds.

14. Terminal Transfers. You can get a receipt at the time you make any transfer to or from your account using an electronic terminal that accepts your Card.

15. Periodic Statements. Unless the only type of electronic transfer that you receive is a preauthorized deposit to your passbook account, you will get a monthly account statement. If there are no transfers in a particular month, you will get a statement at least quarterly.

16. Passbook Account Where the Only Possible Electronic Fund Transfers are Preauthorized Credits . If you bring your passbook to us, we will record any electronic deposits that were made to your account since the last time you brought in your passbook.

17. Preauthorized Credits. If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call us at 715-677-4523 to find out whether or not the deposit has been made.

18. Preauthorized Withdrawals.

(a) Right to Stop Payment and Procedure for Doing So. If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here's how:

Call us at 715-677-4523 or write us at Community First Bank

275 W GRAND AVE ROSHOLT WI 54473__ , in time for us to receive your request, 3 business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call. We will charge you for each stop payment order you give the charge for stopping payment identified in our current fee schedule accompanying this Agreement as may be amended from time to time.

(b) Notice of Varying Amounts . If these regular payments may vary in amount the person you are going to pay will tell you, 10 days before each payment, when it will be made and how much it will be. You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.

(c) Liability for Failure to Stop Payment of Preauthorized Transfer. If you order us to stop one of these payments 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

19. Our Liability For Failure to Make Transfers. If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

  • if, through no fault of ours, your account does not contain enough money to make the transfer.
  • if the money in your account is subject to legal process or other encumbrances restricting the transfer.
  • if the transfer would go over the credit limit on your overdraft credit plan, if any.
  • if the terminal where you are making the transfer does not have enoughcash.
  • if the terminal or transfer system was not working properly and you knew about the breakdown when you started the transfer.
  • if circumstances beyond our control (such as fire or flood) prevent the transfer despite reasonable precautions that we have taken.
  • if incomplete or inaccurate information is forwarded by the U.S.Treasury or through an automated clearing house.
  • as otherwise indicated in the Agreement.

20. Account Information Disclosure. We will disclose information to third parties about your account or the transfers you make: (a) to third parties where it is necessary for completing or tracing transfers or resolving errors or claims; or (b) to verify or disclose the existence, amount or condition of your accounts for third parties, such as credit bureaus, merchants or other financial institutions; or (c) pursuant to court orders and other legal process; or (d) to comply with subpoenas, summonses, search warrants or requests from government agencies; (e) to comply with state or federal laws requiring us to provide information regarding depositors and their accounts to governmental agencies; (f) to other companies affiliated with us, unless you have opted out of such disclosure in accordance with our Deposit Account Rules or privacy policy we provide to you; (g) to others with your consent; or (h) otherwise in accordance with our privacy policy we provide to you.

21. Foreign Currency Conversion. If you use your Card or account for a transaction in a foreign currency, the transaction amount will be converted to U.S. currency. Depending on whether you use a Visa or MasterCard debit card, Visa or MasterCard does the currency conversion using a rate it selects from the range of rates available in wholesale currency markets for the day prior to the central processing date of the transaction or the government-mandated rate in effect for the day prior to the central processing date of the transaction. This rate may vary from the rate Visa or MasterCard itself receives. You agree to pay charges and accept credits for the converted transaction in accordance with these terms, the Schedule of Fees and Charges and the then current applicable Visa or MasterCard rules.

22. Amendment . We may amend this Agreement upon giving you such notice as may be required by law, effective upon the date indicated in the notice.

23 . Additional Provisions.

Additional Provisions for EFT

IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS

Telephone us at 715-677-4523

or

Write us at COMMUNITY FIRST BANK, 275 W GRAND AVE ROSHOLT WI 54473

as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the problem or error appeared.

•  Tell us your name and account number (if any).

2. Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.

3. Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.

We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account.

For errors involving new accounts, point of sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.

We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

If a notice of error involves unauthorized use of your point of sale debit card with the Visa or MasterCard logo when it is used as a Visa or MasterCard point of sale debit card, then the applicable Visa or MasterCard rules on error resolution shall apply.

 

APPLlCANT NOTICE: All New Checking Accounts are subject to credit underwriting, Verification through Chexsystems, and require government issued picture I.D.

By selecting the “I Accept” button below, you indicate your consent to receive
the disclosures listed above and will be linked to the New Account Application.

 


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