Common use of Disclosure of Account Terms Clause in Contracts

Disclosure of Account Terms. When you open your deposit account, or upon request, you will receive a disclosure of account terms and a fee schedule, which are part of this Agreement. Your account disclosure will provide you with information pertaining to your account, such as the interest rate and applicable annual percentage yield, minimum balance requirements (if any) and method of compounding and crediting interest. If any information in this disclosure or the fee schedule changes, and that change adversely affects you, we will provide notice to you. When required by law, we will notify you in writing at least 30 days prior to the effective date of the change. Your deposit accounts at Salem Five are fully insured by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF). The basic insurance amount provided by the FDIC is $250,000 per depositor per deposit category. All deposits above this amount are insured by DIF. When you open a deposit account, you are required to certify the Taxpayer Identification Number (TIN) you provide us. You must also certify that you are not subject to backup withholding of federal income taxes. If you are a U.S. person and you fail to furnish us with a certified TIN, if the IRS notifies us that the TIN you gave us is incorrect, or if the IRS notifies you that you failed to report all your interest and dividends on your tax return, we may be required to close your account or withhold a percentage of your interest payments and provide it to the IRS. This is known as “backup withholding”. Consumer deposit accounts may only be opened for personal, family or household purposes. Deposit accounts will be considered open once the Bank has received and approved all required account opening documentation. We reserve the right to require additional signature or other verification documentation from you during your account relationship.

Disclosure of Account Terms. When you open your deposit account, or upon request, you will receive a disclosure of account terms and a fee schedule, which are part of this Agreement. Your account disclosure will provide you with information pertaining to your account, such as the interest rate and applicable annual percentage yield, minimum balance requirements (if any) and method of compounding and crediting interest. If any information in this disclosure or the fee schedule changes, and that change adversely affects you, we will provide notice to you. When required by law, we will notify you in writing at least 30 days prior to the effective date of the change. Your deposit accounts at Salem Five are fully insured by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF). The basic insurance amount provided by the FDIC is $250,000 per depositor per deposit category. All deposits above this amount are insured by DIF. When you open a deposit account, you are required to certify the Taxpayer Identification Number (TIN) you provide us. You must also certify that you are not subject to backup withholding of federal income taxes. If you are a U.S. person and you fail to furnish us with a certified TIN, if the IRS notifies us that the TIN you gave us is incorrect, or if the IRS notifies you that you failed to report all your interest and dividends on your tax return, we may be required to close your account or withhold a percentage of your interest payments and provide it to the IRS. This is known as “backup withholding”. Consumer deposit accounts may only be opened for personal, family or household purposes. Deposit accounts will be considered open once the Bank has received funding and approved all required account opening documentation. We reserve the right to require additional signature or other verification documentation from you during your account relationship.

Disclosure of Account Terms. When you open your deposit account, or upon request, you will receive a disclosure of account terms and a fee schedule, which are part of this Agreement. Your account disclosure will provide you with information pertaining to your account, such as the interest rate and applicable annual percentage yield, minimum balance requirements (if any) and method of compounding and crediting interest. If any information in this disclosure or the fee schedule changes, and that change adversely affects you, we will provide notice to you. When required by law, we will notify you in writing at least 30 days prior to the effective date of the change. Your deposit accounts at Salem Five are fully insured by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF). The basic insurance amount provided by the FDIC is $250,000 per depositor per deposit category. All deposits above this amount are insured by DIF. When you open a deposit account, you are required to certify the Taxpayer Identification Number (TIN) you provide us. You must also certify that you are not subject to backup withholding of federal income taxes. If you are a U.S. person and you fail to furnish us with a certified TIN, if the IRS notifies us that the TIN you gave us is incorrect, or if the IRS notifies you that you failed to report all your interest and dividends on your tax return, we may be required to close your account or withhold a percentage of your interest payments and provide it to the IRS. This is known as “backup withholding”. Consumer deposit accounts may only be opened for personal, family or household purposes. Deposit accounts will be considered open once the Bank has received funding and approved all required account opening documentation. We reserve the right to require additional signature or other verification documentation from you during your account relationship.

Disclosure of Account Terms. When you open your deposit account, or upon request, you will receive a disclosure of account terms and a fee schedule, which are part of this Agreement. Your account disclosure will provide you with information pertaining to your account, such as the interest rate and applicable annual percentage yield, minimum balance requirements (if any) and method of compounding com- pounding and crediting interest. If any information in this disclosure or the fee schedule changes, and that change adversely affects you, we will provide notice to you. When required by law, we will notify you in writing at least 30 days prior to the effective date of the change. Your deposit accounts at Salem Five are fully insured by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF). The basic insurance amount provided by the FDIC is $250,000 per depositor per deposit category. All deposits above this amount are insured by DIF. When you open a deposit account, you are required to certify the Taxpayer Identification Number (TIN) you provide us. You must also certify that you are not subject to backup withholding withhold- ing of federal income taxes. If you are a U.S. person and you fail to furnish us with a certified TIN, if the IRS notifies us that the TIN you gave us is incorrect, or if the IRS notifies you that you failed to report all your interest and dividends on your tax return, we may be required to close your account or withhold a percentage of your interest payments and provide it to the IRS. This is known as “backup withholding”. Consumer deposit accounts may only be opened for personal, family or household purposes. Deposit accounts will be considered consid- ered open once the Bank has received and approved all required account opening documentation. We reserve the right to require additional signature or other verification documentation docu- mentation from you during your account relationship. You may open your account in one or more names. Minors may not open accounts as sole owners. All owners must sign a permanent signature card and provide the required documentation of identity. Failure to provide us with this completed document may result in the Bank’s refusal to negotiate checks or payment orders against the account. For your convenience, we may allow you to establish a joint account, even if only one joint account owner signs the signa- ture card. If we allow you to do this, you agree to indemnify and hold us harmless from and against losses we may incur, or other harm arising from, or in any way relating to, establishing your joint account without having a signature card signed by another joint account owner. By transacting any business on the joint account, a joint account owner who has not signed the account’s signature card agrees to be bound by this Agreement, the Consumer Banking Fee Schedule, and any other applicable agreement. If any joint account owner has not provided us with a signed signature card, your joint account may not qualify as a joint account for purposes of Federal Deposit Insurance coverage under applicable law concerning inheritance or the transfer of property upon death. We reserve the right to refuse to pay or honor checks and other orders of withdrawal signed by a joint account owner who has not signed the account’s signature card. We may, in our sole dis- cretion, convert your joint account into an individual account. Each joint account owner hereby appoints each other joint owner as his or her agent for the purpose of requesting serv- ices relating to the account, such as ATM or debit cards, Online Banking, and telephone banking.