Commercial Product Disclosure

Conditions, Regulations, and Funds Availability for Your Accounts With Us [Business Product Disclosure - Printable Version]

To Our Customers: This document explains the rules, regulations and conditions that apply to deposit accounts and other services at Androscoggin Bank. If you have any questions regarding any account we offer, please feel free to call any branch office. We look forward to serving all your banking needs. To reach any office please call (800) 927-3344.

Contents

Deposit Account Contract

General Conditions Applicable To Your Account With Us

Truth In Savings - Deposit Account Disclosures

Funds Availability At Androscoggin Bank

Substitute Checks And Your Rights

Electronic Funds Transfer Disclosure (Regulation E)

Privacy Policy

Complaint Procedure

DEPOSIT ACCOUNT CONTRACT

Terms and Conditions effective April 1, 2007.

This Deposit Account Contract is an agreement between Androscoggin Bank (hereinafter the Bank) and the depositor that sets forth the terms, conditions, rights, duties and obligations relating to deposit accounts. The Bank reserves the right to refuse a deposit relationship and will notify the depositor by mail to the last address of record.

Terms: You agree to abide by the State and Federal laws and the Rules and Regulations of the Bank and with any amendments and additions that hereafter may be made that govern regular and time deposits.

Account Type: An Account can be opened as an Individual, Joint (payable to either), Trust (trustee as owner payable upon trustee’s death to the beneficiary named), or as a Fiduciary Account (the fiduciary will file a copy of his/her appointment as a fiduciary or trust agreement with the Bank).

Ownership: Upon the death of any owner of a joint account, the account will belong to the survivor.

Schedule of Charges: You agree to pay the charges set forth in the Bank’s  Schedule of Charges. The Bank will publish notice of any new or increased charges thirty (30) days before their effective date.

Right of Set-off: If you owe the Bank money, the Bank can use any money in any account you have with us to pay the debt, subject to State and Federal laws.

Deposits: You agree that all parties named on the account may deposit cash or may endorse for deposit to said account and may authorize the Bank to accept and place to your credit any instrument payable to you. We reserve the right to limit your use of monies deposited until they become collected.

Withdrawals from Passbook Accounts: You may be required to present your passbook for withdrawals. All withdrawals must be accompanied by a written order of withdrawal.

Inactive Accounts: If your account is inactive for three years and we are not able to reach you by mail, Maine law requires us to transfer your account to the State as abandoned property. All time deposits (CDs) will be allowed five renewals before being declared inactive. Please see our Schedule of Charges for applicable charges on inactive accounts.

Legal Proceedings: If your account becomes involved in legal proceedings, your use of it may be restricted.

Non-sufficient Balance: The Bank may refuse payment of and return as unpaid to the presenting party any or all items drawn by a depositor on the depositor’s account and presented to the Bank on any banking day, when at the opening of business that day there is not sufficient collected funds in the account to pay the total amount of such items, unless the depositor has a Line of Credit Agreement or a linked deposit account with sufficient available balance. Overdraft charges apply to overdrafts created by check, in-person withdrawal, ATM withdrawal, or other electronic means, as applicable.

Suspension of ATM/Debit Card: If we block your card for reasons such as loan delinquency, negative balance or any other account situation, you will be assessed a service charge upon reactivation. Please see our  Schedule of Charges.

Stop Payment Requests: Depositor may request the Bank to stop payment on an item or items by (1) an initial oral request accepted by a Bank employee in person or over the telephone, and/or (2) a signed written request delivered to the Bank. Stop payment orders terminate in six (6) months, unless renewed in writing. Androscoggin Bank is bound only to exercise good faith and ordinary care in the observation in this matter. The Bank shall have reasonable time after the receipt of this order to notify all appropriate employees and also shall not assume responsibility for stopping payment if the check has already been paid.

The Bank shall be held harmless by depositor for all expenses and costs incurred by the Bank as a result of refusing payment of an item at the depositor’s request.

Deposited Items Limitations: Any accounts used for commercial deposits will be subject to commercial account charges.

Restrictive Signing Authorities: Signing authorities that are restrictive in nature are generally established to satisfy control requirements unique to the depositor. Should the Bank accept an account with restrictive signing authorities, the depositor agrees to hold the Bank harmless from any loss that may arise through its erroneous payment of an item that was not signed in a manner consistent with the restrictive signing instructions.

Statement of Account: Androscoggin Bank shall send to depositor at the close of each accounting period for any statement account (as determined by the Bank from time to time), a statement thereof for the preceding accounting period, together with the items or other evidence of charges against the account for that period.

The depositor is obligated to examine the same immediately and to report promptly to the Bank any dispute or difference of account for whatever reason. Unless the Bank receives written notice of any claimed dispute or difference of account within sixty (60) days after the statement date and items shall have been sent or made available to the depositor, depositor shall be precluded from asserting any dispute or difference as to the account as rendered.

Depositor shall not be relieved of the duty to examine and report the stated consequences thereof by reason of the fact that the statement or any item or items were not sent or made available, unless depositor notifies the Bank of that fact within thirty (30) days of the date upon which the same are customarily sent or made available.

Termination of Account Relationship: The Bank may close any deposit account at any time by sending the balance of funds therein to the depositor, following written notice of its intent to do so, and the Bank shall not be liable for dishonoring any item drawn on the account and presented for payment after such remittance or termination. The Bank may decline to collect any item or items deposited in the account after giving such notice to the depositor.

Address: All remittances, statements, items, notices and written communications given by the Bank to the depositor shall be deemed given when sent to the last postal or email address that the depositor shall have designated for that purpose to the Bank.

GENERAL CONDITIONS APPLICABLE TO YOUR ACCOUNT WITH US

These conditions, together with the disclosures contained in this brochure, constitute the agreement between you and us. “You” and “owner” means the account holder(s) and “we,” “us” and the “Bank” means Androscoggin Bank. We may change our agreement with you at any time upon prior written notice in form, substance and timing that conforms to any applicable regulatory requirements.

Ownership of Accounts and Right to Conduct Transactions

An Individual Account is an account in the name of only one person who has sole rights to the amounts therein.

Joint Accounts are accounts owned by more than one individual. Any owner of a joint account may unilaterally withdraw, transfer or otherwise dispose of all of the funds in the account at any time, unless arrangements requiring multiple signatures are in place. Joint accounts may take several legal forms, but unless otherwise clearly specified in the account documentation:

• All accounts are deemed to be Joint Accounts with Survivorship Rights; and
• All joint accounts will require only one signature and any of the owners has the unilateral right to withdraw or otherwise dispose of any or all of the funds in the account. It is your obligation to ensure that the ownership form properly reflects your intention. No one owner may change the form of ownership on a joint account without the agreement of all account owners.

Multiple signature requirements not established when the account is opened may only be established with the agreement of all owners. Similarly, multiple signature requirements established when the account is opened may only be changed with the agreement of all owners. An account may not be assigned or ownership transferred without our prior written consent.

Joint Accounts with Survivorship Rights are accounts, which, upon the death of one owner, are intended to pass to the other owners. If there is more than one other owner, it will pass to the other owners as joint tenants with survivorship rights.

Payable on Death Accounts are accounts that may only be established by a single owner who designates one or more beneficiaries who are to benefit from the account after the death of the account owner. The account owner has full rights to the account and may at any time withdraw any or all of the funds and otherwise modify the account type and/or ownership form. The owner may change or eliminate the beneficiary designation at any time. The term “owner” does not include the beneficiary. These accounts are payable to the beneficiary if the beneficiary is living and the owner of the account is deceased. If there is more than one beneficiary, the beneficiaries will share in the account after the death of all of the owners.

Conducting Transactions: We are not obligated to and generally will not question the motives or purpose with respect to any transaction. This is true whether an owner conducts the transaction, or one authorized to act on an owner’s behalf. However, we may decline or delay any transaction if we are not satisfied that the individual conducting the transaction can properly identify himself or herself or, if not an owner, that he or she is properly authorized to conduct the transaction.

Liability of Account Owners

All owners are jointly and severally liable for all charges and obligations with respect to the account, including without limitation, liability for overdrafts. This means that the Bank can seek the full amount owed to the Bank from any one of the owners. You authorize us to deduct directly from your account the amount of any charge. This includes charges for special services not listed on the Schedule of Charges.

Transaction Limitations and Requirements

Funds will be made available for deposited items in accordance with the enclosed Funds Availability Policy (page 16). Nevertheless, we reserve the right to charge the account for the amount of any item returned to the Bank together with applicable charges. We also reserve the right to refuse to accept an item for deposit or cashing where collectibility is doubtful, such as in the case of an altered check, a stale check, a check missing necessary signatures, a check which on its face has inconsistent or missing information, a check on a form which is likely to be rejected, etc.

• We reserve the right to refuse any transaction attempted in a form or in a manner not approved by us. Our willingness to allow such a transaction on one occasion does not obligate us to do so in the future.
• We reserve the right to refuse any transaction that may cause an overdraft. Our willingness to allow such a transaction on one occasion does not obligate us to do so in the future. If we allow an overdraft, you are required to pay us the amount of the overdraft and any charges that we may impose in connection therewith.
• We may pay a check prior to the date on the check unless we have received prior written notice to the contrary with respect to the specific item with enough time for us to act.
• We are not obligated to honor restrictive legends on checks written by you unless we have agreed in writing to do so.

Stop Payments: Any one owner of the account may make a stop payment on any item written on the account, regardless of which owner wrote the item. However, only the owner who makes a stop payment may release the stop payment.

A stop payment must be received by the Bank prior to its cashing, paying or certifying the item. The order must be made in a manner allowed by law and must clearly identify the payee, amount, number and date of the item. If we allow the stop payment to be initiated by phone, we reserve the right to release the item if we do not promptly receive a written stop order payment from you in accordance with any instructions that we may provide you on the phone.

Phone Transfers: We may allow phone transfers by any of the owners of the account. However, unless the transfer is the subject of a prior written authorization, we in our discretion may allow transfers only to another account owned by all of the same owners and with the same legal structure. We reserve the right not to allow any transfer unless we are satisfied as to the identity of the owner or caller.

Bank’s Right of Set-Off: Without prior notice (subject to any restriction or requirement provided by applicable law or regulation) we may set off any or all of the funds in your account (except for IRA accounts and other tax deferred accounts) against the obligation of any of you to the Bank that is then due and payable. We will not be liable to you or any third party for any loss or claim resulting from the dishonor of any check drawn on the account or your inability to pay others as a result of our exercise of the Right of Set-Off, and you agree to hold us harmless from any such claim.

Account Information Disclosure: We will disclose information to third parties about your account or the transfers you make under any of the following conditions:

• Where it is necessary for completing transfers; or
• In order to verify the existence and condition of our account for a third party such as a credit bureau or merchant; or
• In order to comply with government agency or court orders; or
• If you give us written permission.

Review of Account Statement: You should review your account statements carefully in a timely manner (but in no event later than sixty (60) days after the statement is made available to you) and promptly notify us of any unauthorized or altered transactions. This includes checks with forged signatures, checks with amounts or payees different from those authorized by you, or items you do not recall having written. If you fail to do so, you may be liable for some or all of the loss (depending on whether our own failure to exercise ordinary care contributed to the loss, and the nature of the transaction such as whether it is a debit card transaction) with respect to the items appearing in the statement as well as to future items reflecting wrongdoing by the same party.

Your responsibility for unauthorized electronic funds transfers is detailed in the Electronic Funds Transfer Disclosure (page 25).

Inactive Account Charge: Inactive is defined as no customer initiated activity or transaction on the account, excluding balance inquiries. If a checking account remains inactive for more than six months (90 days for Basic Plus checking account), then it is subject to a $4.00 monthly charge in lieu of any normal monthly service charge. This excludes Partners and Partners Plus accounts. If a savings account is inactive for more than two years, it is subject to a $1.00 monthly charge in lieu of any normal monthly service charge.

Automated Clearing House (ACH) Account Agreements

Provisional Payment Disclosure:   Credit given by the Bank to you with respect to an automated clearing house credit entry is provisional until the Bank receives final settlement for such entry through a Federal Reserve Bank.  If we do not receive such final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to you in connection with such entry, and the party making payment to you via such entry (i.e., the origination of the entry) shall not be deemed to have paid you in the amount of such entry.

Notice Disclosure: Under the Operating Rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving your account, the Bank is not required to give next day notice to you of receipt of an ACH item and we will not do so.  However, we will continue to notify you of the receipt of payments in the periodic statements we provide to you.

Choice of Law Disclosure: We may accept on your behalf payments to your account which have been transmitted through one or more Automated Clearing Houses (ACH) and which 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 of Maine as provided by the operating rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving your account.

TRUTH IN SAVINGS - DEPOSIT ACCOUNT DISCLOSURES

Checking Accounts

FreeStyle Business Checking

Rate Information:

• This is a non-interest bearing account.

Minimum Balance:

• There is a $25 minimum balance requirement to open this account.

Service Charge:

• There is no monthly service charge.

Per item Charge:

• During each statement cycle there is no charge for the first 200 combination of any cash deposit, item deposit, or item paid. After 200, the per item charge is 30 cents per each item.

Online Banking and Bill Pay:

• There is no monthly service charge for online banking access or for Bill Pay.

Please see our Schedule of Charges for additional charges that apply to this account.

MainStreet Business Checking

Rate Information:

• This is a non-interest bearing account.

Minimum Balance:

• There is a $25 minimum balance requirement to open this account.

Service Charge:

• There is no monthly service charge if a $5,000 minimum daily balance is kept, otherwise $8.

Per item Charge:

• During each statement cycle there is no charge for the first 400 combination of any cash deposit, item deposit, or item paid. After 400 the per item charge is 30 cents per each item.

Online Banking and Bill Pay:

• There is no monthly service charge for online banking access or for Bill Pay.

Please see our Schedule of Charges for additional charges that apply to this account.

Community NOW Checking

• This is an interest bearing account for Sole-Proprietors or IRS recognized non-profits.

Rate Information:

• Interest rates and annual percentage yields for all accounts are listed on the Androscoggin Bank  Rate Sheet.The annual percentage yield assumes that the interest will remain on deposit. Your interest rate and annual percentage yield may change.  At our discretion, we may change the interest rate on your account at any time.

Minimum Balance:

• There is a $25 minimum balance requirement to open this account.
• There is no minimum balance requirement to obtain the annual percentage yield.
• You must maintain a minimum daily balance of $100 in the account to avoid the imposition of a service charge of $6.00.  The charge will be assessed if the daily balance in the account falls below $100 for any day during the statement period.

Balance Computation Method:

• 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.

Compounding and Crediting:

• Interest for your account will be compounded monthly and credited to your account on the last day of each statement cycle.

Accrual of Interest on Deposits Other Than Cash:

• Interest begins to accrue no later than on the business day that we receive credit for non-cash items such as checks.

Service Charge:

• There is no monthly service charge if a $100 minimum daily balance is kept, otherwise $6.
• Deposit charge for each deposit made:  $0.10 
• First 20 deposits at no charge.
• Item charge for each check/item deposited:  $0.12
• First 100 checks deposited at no charge.
• Item charge for each check/item paid:  $0.16
• First 50 checks paid at no charge.

Please see our Schedule of Charges for additional charges that apply to this account.

Online Banking and Bill Pay:

• There is a $6 monthly service charge for online banking access.
• There is a monthly service charge of $6 for the first ten bill payment transactions, then 50 cents for each additional one.

Please see our Schedule of Charges for additional charges that apply to this account.

Corporate Checking

Rate Information:

• This is a non-interest bearing account.
• This account has an earnings credit that may offset any account charges.

Minimum Balance:

• There is a $25 minimum balance requirement to open this account.

Service Charge:

• There is a $6 monthly service charge.

Per item Charge:

• During each statement cycle there is a charge of 10 cents for each cash deposit, 12 cents for each item deposited, and 16 cents for each item paid. These charges may be offset by any earnings credit.

Online Banking and Bill Pay:

• There is a $6 service charge for online banking access.
• There is a monthly service charge of $6 for the first ten bill payment transactions, then 50 cents for each additional one.

Please see our Schedule of Charges for additional charges that apply to this account.

Savings Accounts

Business Partners Savings

Rate Information:

• This is a tiered rate account.
• If your daily balance is less than $5,000, one interest rate will be paid on the entire balance in your account; or
• If your daily balance is at least $5,000 but less than $25,000, another interest rate equal to or higher than the one for the tier above will be paid on the entire balance in your account; or
• If your daily balance is at least $25,000, but less than $50,000, another interest rate equal to or higher than the ones for the tiers above will be paid on the entire balance in your account; or
• If your daily balance is at least $50,000, but less than $75,000, another interest rate equal to or higher than the ones for the tiers above will be paid on the entire balance in your account; or
• If your daily balance is at least $75,000, but less than $100,000, another interest rate equal to or higher than the ones for the tiers above will be paid on the entire balance in your account; or
• If your daily balance is at least $100,000, another interest rate equal to or higher than the ones for the tiers above will be paid on the entire balance in your account. Please see the Androscoggin Bank  Rate Sheet  for the interest rates and annual percentage yields for these tiers.
• The annual percentage yield assumes that the interest will remain on deposit.
• Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rates on your account at any time.

Minimum Balance:

• There is a $2,500 minimum balance requirement to open this account.
• The minimum balance requirement to obtain the annual percentage yield associated with respect to each tier is listed above.
• You must maintain a minimum daily balance of $2,500 in the account to avoid the imposition of a service charge; otherwise you will be assessed $10.

Balance Computation Method:

• 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.

Compounding and Crediting:

• Interest for your account will be compounded monthly and credited to your account on the last day of each statement cycle.

Accrual of Interest on Deposits Other Than Cash:

• Interest begins to accrue on the business day that your deposited non-cash items, such as checks, become available for withdrawal according to our Funds Availability Policy.

Transaction Limitations:

• You may make up to six (6) electronic withdrawals per calendar month from your account.
• Withdrawals or transfers made in person at the Bank or at an ATM and all deposits are unlimited.
• Please see our Schedule of Charges for additional charges that apply to this account.

Business Money Market

Rate Information:

• This is a tiered rate account.
• If your daily balance is less than $5,000, one interest rate will be paid on the entire balance in your account; or
• If your daily balance is at least $5,000 but less than $25,000, another interest rate equal to or higher than the one for the tier above will be paid on the entire balance in your account; or
• If your daily balance is at least $25,000, but less than $50,000, another interest rate equal to or higher than the ones for the tiers above will be paid on the entire balance in your account; or
• If your daily balance is at least $50,000, but less than $75,000, another interest rate equal to or higher than the ones for the tiers above will be paid on the entire balance in your account; or
• If your daily balance is at least $75,000, but less than $100,000, another interest rate equal to or higher than the ones for the tiers above will be paid on the entire balance in your account; or
• If your daily balance is at least $100,000, another interest rate equal to or higher than the ones for the tiers above will be paid on the entire balance in your account. Please see the Androscoggin Bank Rate Sheet for the interest rates and annual percentage yields for these tiers.
• The annual percentage yield assumes that the interest will remain on deposit.
• Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rates on your account at any time.

Minimum Balance:

• There is a $25,000 minimum balance requirement to open this account.
• The minimum balance requirement to obtain the annual percentage yield associated with respect to each tier is listed above.
• You must maintain a minimum daily balance of $2,500 in the account to avoid the imposition of a service charge; otherwise you will be assessed $25.

Balance Computation Method:

• 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.

Compounding and Crediting:

• Interest for your account will be compounded monthly and credited to your account on the last day of each statement cycle.

Accrual of Interest on Deposits Other Than Cash:

• Interest begins to accrue on the business day that your deposited non-cash items, such as checks, become available for withdrawal according to our Funds Availability Policy.

Transaction Limitations:

• You may make up to three (3) electronic and three (3) check withdrawals per calendar month from your account. Each withdrawal that exceeds this limit is subject to a $25 service charge.
• Withdrawals or transfers made in person at the Bank or at an ATM and all deposits are unlimited.

Please see our Schedule of Charges for additional charges that apply to this account.

Premier Health Savings Account

(Subject to availability)

Rate Information:

• This is a tiered rate account.
• If your daily balance is less than $5,000, you will earn the basic savings tier 1 rate on the entire balance in your account.
• If your daily balance is at least $5,000, another interest rate equal to or higher than the one for the Basic Savings rate will be paid on the entire balance in your account. Please see the Androscoggin Bank  Rate Sheet  for the interest rates and annual percentage yields for these tiers.

Minimum Balance:

• There is no minimum balance requirement to open this account.
• There is no minimum balance requirement to obtain the annual percentage yield.

Balance Computation Method:

• 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.

Compounding and Crediting:

• Interest for your account will be compounded monthly and credited to your account on the last day of each statement cycle.

Accrual of Interest on Deposits Other Than Cash:

• Interest begins to accrue on the business day that your deposited non-cash items, such as checks, become available for withdrawal according to our Funds Availability Policy

Transaction Limitations:

• You may make up to six (6) electronic withdrawals per calendar month from your account.
• Withdrawals or transfers made in person at the Bank are unlimited.

Please see our Schedule of Charges for additional charges.

Certificates of Deposit

Rate Information:

• Interest rates and annual percentage yields for all accounts are listed on the Androscoggin Bank  Rate Sheet.We offer certificates for the terms listed on the Androscoggin Bank Rate Sheet. You will be paid the interest rate (corresponding to the term selected) which appears on the Rate Sheet on the day that you open the account. You will be paid this rate until the first renewal of the certificate.
• The annual percentage yield assumes that the interest will remain on deposit until your certificate of deposit matures.  Withdrawals will reduce earnings.
• For the 18-month Variable Rate IRA Certificate of Deposit, your interest rate and annual percentage yield may change. Your interest rate is equal to the 1-Year U.S. Treasury Bill Index, and is changed on the first Wednesday of each month.

Minimum Balance:

• The minimum balances to open an account are listed on the Androscoggin Bank Rate Sheet. You must maintain the required minimum balance in the account each day to obtain the annual percentage yield.

Balance Computation Method:

• 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.

Compounding and Crediting:

• Interest for your account will be compounded monthly and credited to your account on first of each month. You may withdraw credited interest from your account at any time.

Term and Automatically Renewable Feature:

• Your certificate will mature at the expiration of the initial term selected by you at the inception of the certificate from the terms available on our Rate Sheet. It will automatically renew for the same term (see Renewal Policy) unless otherwise specified.

Accrual of Interest on Deposits Other Than Cash:

• Interest begins to accrue on the business day that your deposited non-cash items, such as checks, become available for withdrawal according to our Funds Availability Policy.

Transaction Limitations:

• After the account is opened, you may not make deposits into the account until maturity (except for the 18-month variable rate IRA certificate). You may make withdrawals of interest that has been credited at any time prior to maturity of that term. 

Early Withdrawal Penalties:

• A penalty will be imposed for early withdrawal. The penalty, based on the original maturity of the certificate, will equal interest (at the rate payable on the account) on the funds withdrawn for the number of months indicated below. The penalty applies regardless of whether the amount of such interest has been earned and regardless of the amount of time that the funds have been in the account.

• A reduction in the principal sum of the account may be required if interest earned is less than the penalty assessed.
• In certain instances such as the death or judicially declared mental incapacity of an owner of the account; the law may permit or require the waiver of penalties for early withdrawal.

Renewal Policy:

• If your CD automatically renews at maturity, you have a grace period of ten (10) calendar days after the maturity date to withdraw the funds without being charged a penalty or to notify us not to renew the certificate.
• If your CD does not automatically renew, and you do not instruct us in writing to place the funds in another type of account offered by the Bank for which the funds qualify, you will earn the current tier 1 basic savings rate. Any renewal will be for the same term as the original renewal (if such a term is then offered) and at the rates offered by the Bank at the time of renewal for certificates of the same term and amount.
• We can prevent renewal if we mail notice to you at least ten (10) calendar days before maturity. If either you or we prevent renewal, interest will accrue after final maturity at the basic savings rate.

Additional Requirements:

• You may be required to present your certificate to conduct any transactions on this account.

FUNDS AVAILABILITY AT ANDROSCOGGIN BANK

Our policy is to make funds from your deposits available to you no later than the first business day after the day of your deposit. At that time, you can withdraw the funds in cash, and we will use the funds to pay checks you have written or to pay electronic charges presented against your account.

Determining the availability of a deposit: Every day is a business day except Saturdays, Sundays, and Federal holidays. If you make a deposit 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 we close or on a day we are not open, we will consider the deposit was made on the next business day we are open. If you make a deposit before 5:00 p.m. at one of our automated teller machines (ATMs), we will consider that day to be the day of your deposit. If you mail funds to us, the funds are considered deposited on the day we receive them. Funds placed in a night depository or lockbox are considered deposited on the day we remove them and they are available for processing.

Same Day Availability: Funds from the following deposits are made available on the same business day they become available to the bank.

• Funds received for deposit by an electronic payment;
• Cash deposits made at the Bank's teller stations;
• Wire transfers.

Case by Case Holds: In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the 5th business day after the day of your deposit. However, the first $100 of your deposit will be available on the first business day after the day of your deposit. If we are not going to make all of the funds from your deposit available on the first business day, 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.

Exception Holds: Funds you deposit by check may be delayed for a longer period under the following circumstances:

• We believe a check you deposit will not be paid;
• You deposit checks totaling more than $5,000 in one day;
• You redeposit a check that has been returned unpaid;
• You have overdrawn you account repeatedly in the last six (6) months;
• There is an emergency, such as failure of communications or computer equipment.

We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. Funds generally will be available no later than the ninth business day after the date of your deposit

Rules for New Account: If you are a new customer, the following special rules may apply during the first thirty (30) days your account is open. The first $5,000 from a deposit of U.S. Treasury checks will be available on the first business day after the day of your deposit. The excess over $5,000 will be available on the ninth business day after the day of your deposit. Funds from wire transfers into your account will be available on the first business day after we receive the transfer. Funds from deposits of cash and the first $5,000 of a day's total deposits of cashier's, certified, teller's, traveler's and state and local government checks will be available on the first business day after the day of your deposit if the checks are payable to you. The excess over $5,000 will be available on the ninth business day after the day of your deposit. If you do not make the deposit in person to one of our employees, the first $5,000 will not be available until the second business day after the day of your deposit.

Holds on Other Funds: If we cash a check for you that is drawn on another bank, 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.

Non-U.S. Financial Institutions: We reserve the right to send any checks drawn on a foreign financial institution (including Canadian institutions) for collection. For each item sent, we will assess a collection charge plus any collection charges charged to us by other financial institutions that process the item as listed in our most recent Schedule of Charges brochure. The funds represented by checks which are sent for collection are generally available within ten (10) to fifteen (15) days.

Checks Returned Subsequent to Funds Being Made Available: If a check you deposited to your account is returned to us unpaid after the funds have been made available to you, the amount of the check will be charged to your account. If there are non-sufficient funds in your account, we reserve the right to demand payment directly from you and to charge you for non-sufficient funds as posted in our most recent Schedule of Charges brochure.

Substitute Checks And Your Rights (Check 21)

To make check processing faster, federal law permits banks to replace original checks with “substitute checks.” These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check. A substitute check is the legal equivalent of an original check.

Rights regarding substitute checks:   In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer. This does not apply to checks drawn on non-consumer accounts or to checks drawn on credit card or Home Equity Line of Credit accounts. The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account plus  any charges that were charged as a result of the withdrawal; for example, overdraft charge. 

The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund if your account is an interest-bearing account.

If you use this procedure, you may receive up to $2,500 of your refund plus interest, if your account earns interest, within ten (10) business days after we received your claim and the remainder of your refund plus interest, if your account earns interest, not later than 45 calendar days after we received your claim.

We may reverse the refund including any interest on the refund if we later are able to demonstrate that the substitute check was correctly posted to your account. 

How do I make a claim for a refund?   If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us at 207-784-9164 or 1-800-966-9172. You must contact us within 40 calendar days of the date that we mailed or otherwise delivered by a means to which you agreed the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances. 

Your claim must include:

• A description of why you have suffered a loss for example, you think the amount withdrawn was incorrect; 
• An estimate of the amount of your loss; 
• An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss; and 
• A copy of the substitute check [and/or] the following information to help us identify the substitute check: identifying information, for example; the check number, the name of the person to whom you wrote the check,  and the amount of the check.

ELECTRONIC FUNDS TRANSFER DISCLOSURE (Regulation E)

1. Your Liability for Unauthorized Transfers

Tell us AT ONCE if you believe your card or code has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission using information from your check. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum overdraft line of credit). If you tell us within 2 business days after you learn of the loss or theft of you card or code, you can lose no more than $50 if someone used your card or code without your permission.

If you do NOT tell us within 2 business days after you learn of the loss or theft of your cad or code and we can prove we could have stopped someone from using your card or code without your permission if you had told us, you could lose as much as $500.

Also, if your statement shows transfers that you did not make, including those made by card, code or other means, 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 period.

2. Telephone Number and Address to Be Notified in Event of Unauthorized Transfer

If you believe your card or code has been lost or stolen, call:

(207) 784-9164 or 1-800-966-9172.

or write:

Androscoggin Bank EFT, Customer Service Representative,

P.O. Box 1407, Lewiston, ME 04243-1407.

You should also call the number or write to the address listed above if you believe a transfer has been made using the information from your check without your permission.

3. What Constitutes Business Days of Androscoggin Bank

Our business days are Monday through Friday, 8:00 a.m. to 5:00 p.m. Holidays are not included.

4. Account Information Disclosure

We will disclose information to third parties about your account or the transfers you make under any one of the following conditions:

• Where it is necessary for completing transfers; or
• In order to verify the existence and condition of your account for a third party such as a credit bureau or merchant; or
• In order to comply with government agency or court orders; or
• If you give us written permission.

5. Right to Receive Documentation of Transfers

Preauthorized Credits:

• If you have arranged to have direct deposits made to your account at least once every sixty (60) days from the same person or company, you can call us at (207) 784-9164 or 1-800-966-9172 to find out whether or not the deposit has been made.

Periodic Statements:

• You will get a monthly account statement.

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.

Notice of Varying Amounts:

• If a regular payment may vary in amount, the person you are going to pay will tell you ten (10) days before each payment when it will be made and how much it will be.

Terminal Transfers:

• You should get a receipt at the time you make any transfer to or from your account at our automated teller machines or point-of-sale terminals.

6. Rights and Procedures to Stop Payment of Preauthorized Transfers

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. Call us at (207) 784-9164 or 1-800-966-9172, or write: Androscoggin Bank, P.O. Box 1407, Lewiston, Maine 04243-1407, in time for us to receive your request three (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 fourteen (14) days after your call. We will charge our standard stop payment charge for each stop payment order you give.

Liability for Failure to Stop Payment of Preauthorized Transfer:

• If you order us to stop one of these payments three (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.

7. Androscoggin Bank’s 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, you do not have enough money in your account to make the transfer.
• If the transfer would go over the credit limit on your overdraft line.
• If the automated teller machine (ATM) where you are making the transfer does not have enough cash.
• If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.
• If the circumstances beyond our control (such as fire or flood) prevent the transfer despite reasonable precautions having been taken.
• If other exceptions are stated in our agreement with you.

8. Error Resolution Procedures Notice

If you have errors or questions about your electronic transfers, call or write: Androscoggin Bank EFT Customer Service Representative 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. Our telephone number is (207) 784-9164 or 1-800-966-9172; our mailing address is P.O. Box 1407, Lewiston, Maine 04243-1407. We must hear from you no later than sixty (60) days after we sent the FIRST statement on which the problem or error appeared.

• Tell us your name and account number.
• 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.
• 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 ten (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.

9. Charges for the Above Service

There may be a charge for each transfer of electronic funds. The Schedule of Charges currently in effect for the account will apply.

10. Types of Available Transfers

You may use your card or code to:

• Withdraw cash from your checking or savings account.
• Make deposits to your checking or savings account.
• transfer funds between your checking and savings accounts whenever you request.
• Pay for purchases at places that have agreed to accept the card or code.

Some of these services may not be available at all terminals.

11. Electronic Check Conversion

You may authorize a merchant or other payee to make a onetime electronic payment from your checking account using information from your check to:

• Pay for purchases
• Pay bills

12. Limitations on Cash Withdrawals

If you have a VISA® Check Card (Debit card), you may withdraw up to your daily limit of your available account balance as established when you opened your account. The standard daily limit is up to $500 in no more than two  ATM cash withdrawals and up to $1,000 in eight total daily transactions via a point-of-purchase device, for a limit of no more than $1,500. If you have an ATM card the standard daily limit is up to $500 in ATM cash withdrawals only. Your limit may be different. If you exceed your limit, we may cancel your Androscoggin bank card and/or overdraw your account and assess any applicable charges.

For security reasons, there are limits on the number of transfers you can make using our terminals or point-of-purchase transfer service.

13. Delays in Posting Transactions

There may be a delay between the time you transact and the time the transaction appears on your account. This delay may affect withdrawals, transfers, deposits, and/or loan payments. Transactions made at ATMs may be delayed by up to 24 hours.

14. Limitation of Disclosure

This disclosure applies only to electronic funds transfers and point-of-sale transactions. All other rights, responsibilities, and liabilities affecting any other account at Androscoggin Bank remain in full force.

PRIVACY NOTICE

Androscoggin Bank is committed to respecting the individual privacy of consumers. Since your privacy is a priority to us, Androscoggin Bank will not share non-public information about you with third parties, except as explained in our Privacy Policy.

Privacy Policy

Protecting your privacy is important to Androscoggin Bank. We want you to understand what information we may gather and how we may share it. This Privacy Policy explains Androscoggin Bank’s collection, use, retention and security of information about you.

How We Gather Information:   We may obtain non-public personal information about you from the following sources;

• Information we receive from you, such as information on applications or other forms, which may include your name, address, social security number, and income.
• Information about your transactions with us, our affiliates, or others, such as your account balances, account usage and payment history.
• Information we receive from consumer reporting agencies, motor vehicle dealers, credit references, employers, insurance companies, and insurance agencies, such as your credit history, credit score, and information that we obtain to verify employment history. At no time will we ever ask you via email to provide personal banking account information. If you receive such a solicitation, please forward it to customerservice@androscogginbank.com

Sharing Information

We restrict access to your information to those employees who need to provide information about you to third parties as permitted by law such as:

• To respond to a subpoena or court order, judicial process or regulatory authorities.
• To consumer reporting agencies.
• In connection with a proposed or actual sale, merger, or transfer of all or a portion of a business or an operating unit.
• To protect against fraud.

In addition, we may provide information about you to our employees and service providers to help us process your application or service your accounts. Our service providers may include billing service providers, mail and telephone service companies, insurers, loan settlement service providers, property inspection companies, attorneys and other professionals.

We may also provide information about you to our employees and service providers to help us perform marketing services. The information may include the categories of information described previously under “How We Gather Information”. Disclosure is limited to only that information which we deem appropriate for employees and service providers to carry out their functions.

Opt Out

Androscoggin Bank does not provide its customers with an opportunity to “opt out” of information sharing. The reason for this is because the information sharing arrangements of the bank with third parties as described in this policy under “Sharing Information”, are by law, information sharing arrangements for which “opt out” is not applicable or required; or, may not be allowed as in the case of subpoena’s or other requests by law enforcement agencies.

Our Former Customers

Even if you are no longer an Androscoggin Bank customer, our Privacy Policy will continue to apply to you.

Our Security Practices and Information Accuracy

We also take steps to safeguard customer information. We maintain physical, electronic, and procedural safeguards that comply with Federal standards to protect customer information. We also have internal controls to keep customer information as accurate and complete as we can.

If you believe that any information about you is not accurate, please let us know.

Visits to Our Internet Site

When you visit us on the Internet, we may place a “cookie” on your browser that records the number of visits made to our various web pages; however personal information is not collected. The information we do collect is; IP address, operating system, browser, the site from which you entered our site, the activity you performed while visiting our site, and the site you will be entering upon leaving our site.

Androscoggin Bank makes every effort to safeguard all of the important data it touches, and we strongly recommend that you keep your personal computer’s security up to date as much as possible. Upgrading your browser’s security is a critical step to safeguarding the personal data that resides on your computer.

This Privacy Policy applies to products or services provided by Androscoggin Bank. We reserve the right to change this Privacy Policy, and any of the policies described above, at any time.

If you have any questions regarding our Privacy Policy please contact us at P.O. Box 1407, Lewiston, ME 04243-1407 or call us at 1-800-966-9172.

COMPLAINT PROCEDURE

To Our Customers: The Maine Bureau of Financial Institutions has established the following procedure to resolve disputes over deposit account transactions:

“If you have a dispute with your financial institution regarding your deposit account, you may contact the financial institution and attempt to resolve the problem directly. If the financial institution fails to resolve the problem, communicate the problem and the resolution you are seeking by mail to: Bureau of Financial Institutions, 36 State House Station, Augusta, Maine 04333-0036. To file a complaint electronically, you may contact the Bureau of Financial Institutions at the following Internet address:

http://www.state.me.us/pfr/bkg/bkg_consumer.htm

The Bureau of Financial Institutions will acknowledge receipt of your complaint promptly and investigate your claim. You will be informed of the results of the investigation.

When your complaint involves a federally chartered financial institution, the Bureau of Financial Institutions will refer it to the appropriate federal supervisory agency and inform you to whom it has been referred.”