Common use of Holds on Other Funds Clause in Contracts

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. If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited. Deposits (cash or checks) made at automated teller machines (ATMs) we own or operate prior to 8:00 A.M. on a business day that we are open will be treated as deposited that day. Funds from deposits made after 8:00 A.M. or on a day we are not open will be treated as deposited on the next business day we are open. Deposits are only accepted at machines that we own or operate. All ATMs that we own or operate are identified as our machines. Deposits (checks) made by remote deposit capture through the North Brookfield Savings Bank Mobile Banking app prior to 3:00 P.M. on a business day that we are open will be treated as deposited that day. Funds from deposits made after 3:00 P.M. or on a non-business day will be treated as deposited on the next business day we are open. This Disclosure Statement sets forth certain terms relating to your Accounts with us. These terms are part of your contract with us and are binding upon both of us. These accounts do not earn interest. Accrual of interest on non-cash items (for example, checks) you deposit will begin on the business day you deposit such non-cash items. Certificates with terms of less than 12 months, interest is not compounded, interest is credited monthly on the last business day of the cycle, and at maturity. Certificates with terms of 12 months or more, interest is compounded daily. Interest is credited monthly on the last business day of the cycle, and at maturity. If you close your account before interest is credited, you will receive the accrued interest. Your interest rate and annual percentage yield may change. At our discretion we may change the interest rate on your account at any time. Accrual of interest on non-cash items (for example, checks) you deposit will begin on the business day you deposit such non-cash items. Interest is compounded daily and credited monthly on the last business day of the cycle. If you close your account before interest is credited, you will not receive the accrued interest.

Holds on Other Funds. If we cash a share draft or check for you that is drawn on another bankfinancial institution, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it. If we accept for deposit a check that is drawn on another bankfinancial institution, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited. Longer Delays May Apply. We may delay your ability to withdraw funds deposited by check into your account an additional number of days for these reasons: • We believe a check you deposited will not be paid. • You deposit checks totaling more than $5,000 on any one day. • You re-deposit a check that has been returned unpaid. • You have overdrawn your 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. They will generally be available no later than the seventh business day after the day of your deposit. Deposits (cash at Automated Teller Machines. Funds from any deposits, whether cash, share drafts, or checks) , made at automated teller machines (ATMs) we which your credit union does not own or operate prior to 8:00 A.M. on a will not be available until the second business day that we are open will be treated as deposited that dayafter the day of your deposit. A credit union owned ATM is indicated by the name displayed on the welcome screen. Funds from deposits any deposits, whether cash, share drafts, or checks, made after 8:00 A.M. or on a day we are not open at automated teller machines (ATMs) which your credit union owns will be treated as deposited available on the next business day we are open. Deposits are only accepted at machines that we own or operate. All ATMs that we own or operate are identified as our machines. Deposits (checks) made by remote deposit capture through the North Brookfield Savings Bank Mobile Banking app prior to 3:00 P.M. on a business day that we are open will be treated as deposited that day. Funds from deposits made after 3:00 P.M. or on a non-business day will be treated as deposited on the next business day we are open. This Disclosure Statement sets forth certain terms relating to your Accounts with us. These terms are part of your contract with us and are binding upon both of us. These accounts do not earn interest. Accrual of interest on non-cash items (for example, checks) you deposit will begin on the business day you deposit such non-cash items. Certificates with terms of less than 12 months, interest is not compounded, interest is credited monthly on the last business day of the cycle, and at maturity. Certificates with terms of 12 months or more, interest is compounded daily. Interest is credited monthly on the last business day of the cycle, and at maturity. If you close your account before interest is credited, you will receive the accrued interest. Your interest rate and annual percentage yield may change. At our discretion we may change the interest rate on your account at any time. Accrual of interest on non-cash items (for example, checks) you deposit will begin on the business day you deposit such non-cash items. Interest is compounded daily and credited monthly on the last business day of the cycle. If you close your account before interest is credited, you will not receive the accrued interest.

Holds on Other Funds. If we cash a check for you that is drawn on another bankfinancial institution, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it. If we accept for deposit a check that is drawn on another bankfinancial institution, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited. Deposits Funds from any deposits (cash or checks) made at automated teller machines (ATMs) or interactive teller machines (ITMs) we do not own or operate prior to 8:00 A.M. on a will not be available until the second business day that we are open will be treated as deposited that dayafter the day of your deposit. Funds from deposits made after 8:00 A.M. This rule does not apply at ATMs or on a day we are not open will be treated as deposited on the next business day we are open. Deposits are only accepted at machines ITMs that we own or operate. All ATMs that we own or operate are identified as our machines. Deposits Funds from deposits (cash or checks) made by remote at automated teller machines (ATMs) or interactive teller machines (ITMs) we own or operate will follow the same availability schedule as making a deposit capture in person to one of our employees, except that same day availability may not apply to the items noted. These deposits may be available the first day after the day of deposit. Cash deposited through an ITM(s) is available immediately. Funds from checks deposited through ITMs that we own or operate will follow the North Brookfield Savings Bank Mobile Banking app prior same availability schedule as deposits made through our ATM. If you are a new member, the following special rules will apply during the first 30 days your account is open. Funds from electronic direct deposits to 3:00 P.M. your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,525 of a day's total deposits of cashier's, certified, teller's, traveler's, and federal, state and local government checks will be available on the next business day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you. The excess over $5,525 will be available on the 9th business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $5,525 will not be available until the second business day after the day of your deposit. Funds from all other check deposits will be available on the 9th business day after the day of your deposit. For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit before 5:00 p.m. on a business day that we are open open, we will consider that day to be treated as deposited the day of your deposit. However, if you make a deposit after that day. Funds from deposits made after 3:00 P.M. time or on a non-business day we are not open, we will be treated as deposited consider that the deposit was made on the next business day we are open. This Disclosure Statement sets forth certain terms relating International ACH Transactions (IAT) that are transmitted to your Accounts with us. These terms are part or from any of your contract with accounts may be identified and designated by us for review and are binding upon both examination under the Office of usForeign Assets Control Rules and Regulations (OFAC Rules). These accounts do not earn interestIn such a case, settlement of the IAT may be delayed or suspended, and may be terminated under applicable OFAC Rules. Accrual You also acknowledge that we may be required to place an indefinite hold on funds covered by the IAT if the IAT is required to be terminated under OFAC Rules. You agree that any such delay is permissible under the laws applicable to the availability of interest funds held in deposit accounts. In the event an IAT is delayed or terminated, we will provide you such notice as may be required by applicable law. Checks drawn on non-cash items financial institutions located outside the U.S. (for example, foreign checks) you deposit cannot be processed the same as checks drawn on U.S. financial institutions. Foreign checks are exempt from the policies outlined in this disclosure. Generally, the availability of funds for deposits of foreign checks will begin on be delayed for the business day you deposit such non-cash items. Certificates with terms of less than 12 months, interest time it takes us to collect the funds from the financial institutions upon which it is not compounded, interest is credited monthly on the last business day of the cycle, and at maturity. Certificates with terms of 12 months or more, interest is compounded daily. Interest is credited monthly on the last business day of the cycle, and at maturity. If you close your account before interest is credited, you will receive the accrued interest. Your interest rate and annual percentage yield may change. At our discretion we may change the interest rate on your account at any time. Accrual of interest on non-cash items (for example, checks) you deposit will begin on the business day you deposit such non-cash items. Interest is compounded daily and credited monthly on the last business day of the cycle. If you close your account before interest is credited, you will not receive the accrued interestdrawn.

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. If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited. Deposits (cash or checks) made at automated teller machines (ATMs) In some cases, we own or operate prior will not make all of the funds that you deposit by check available to 8:00 A.M. you on a the first business day after the day of your deposit. Depending on the type of check that we are open will you deposit, funds may not be treated as deposited that available until the second business day after the day of your deposit. The first $200 of your deposits, however, may be available on the first business day. Funds from deposits made after 8:00 A.M. or on a day If we are not open 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 treated as deposited on 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 next business premises, we will mail you the notice by the day after we are openreceive your deposit. Deposits are only accepted at machines that we own or operate. All ATMs that we own or operate are identified as our machines. Deposits (checks) made by remote If you will need the funds from a deposit capture through right away, you should ask us when the North Brookfield Savings Bank Mobile Banking app prior to 3:00 P.M. on a business day that we are open funds will be treated as deposited that dayavailable. Funds from deposits made after 3:00 P.M. or on In addition, funds you deposit by check may be delayed for a non-business day will be treated as deposited on longer period under the next business day we are open. This Disclosure Statement sets forth certain terms relating to your Accounts with us. These terms are part of your contract with us and are binding upon both of us. These accounts do not earn interest. Accrual of interest on non-cash items (for example, checks) following circumstances:  We believe a check you deposit will begin not be paid.  You deposit checks totaling more than $5,000 on any one day.  You redeposit a check that has been returned unpaid.  You have overdrawn your account repeatedly in the last six months.  There is an emergency, such as failure of computer or communications 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. They will generally be available no later than the seventh (7th) business day you deposit such non-cash items. Certificates with terms of less than 12 months, interest is not compounded, interest is credited monthly on after the last business day of the cycle, and at maturity. Certificates with terms of 12 months or more, interest is compounded daily. Interest is credited monthly on the last business day of the cycle, and at maturity. If you close your account before interest is credited, you will receive the accrued interest. Your interest rate and annual percentage yield may change. At our discretion we may change the interest rate on your account at any time. Accrual of interest on non-cash items (for example, checks) you deposit will begin on the business day you deposit such non-cash items. Interest is compounded daily and credited monthly on the last business day of the cycle. If you close your account before interest is credited, you will not receive the accrued interestdeposit.

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 is already in your accountaccount . Those funds will be available at the time funds from the fromthe check we cashed would have been available cashedwould havebeenavailable if you had deposited it. If INTEREST ON DEPOSITS‌ Interest Rates‌ Interest rates paid on our accounts are determined by our management, based on market conditions and other business factors . Except for certificates of deposit (which earn the same interest rate through maturity), the interest rate and Annual Percentage Yield on deposits can change as often as daily, at our discretion, without prior notice to you . On tiered-rate accounts, interest is calculated by the daily balance method, which applies a daily periodic rate to the principal in the account each day, based on the rate tier applicable to that day’s account balance . For current rates, please visit one of our branch offices or contact us at 000-000-XXXX (2262) . See the account-specific disclosure(s) for further information . The Annual Percentage Yield stated for time deposits that earn compounded interest (but which permit interest to be withdrawn prior to maturity) assumes that interest remains on deposit until maturity . A withdrawal of interest will reduce earnings . Interest Calculations‌ Interest is calculated on an actual/365 day basis (366 days for leap years), except for certain public fund accounts where interest is calculated on an actual/360 day basis. Interest begins to accrue no later than the Business Day we accept receive credit for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited. Deposits (cash or checks) made at automated teller machines (ATMs) we own or operate prior to 8:00 A.M. on a business day that we are open will be treated as deposited that day. Funds from deposits made after 8:00 A.M. or on a day we are not open will be treated as deposited on the next business day we are open. Deposits are only accepted at machines that we own or operate. All ATMs that we own or operate are identified as our machines. Deposits (checks) made by remote deposit capture through the North Brookfield Savings Bank Mobile Banking app prior to 3:00 P.M. on a business day that we are open will be treated as deposited that day. Funds from deposits made after 3:00 P.M. or on a non-business day will be treated as deposited on the next business day we are open. This Disclosure Statement sets forth certain terms relating to your Accounts with us. These terms are part of your contract with us and are binding upon both of us. These accounts do not earn interest. Accrual of interest on non-cash noncash items (for example, checks) you deposit will begin . 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. We reserve the right not to pay interest on any deposited item that is returned to us unpaid . Payment of Interest‌ Depending on the business day you deposit such non-cash items. Certificates with terms of less than 12 monthsaccount, interest is not compoundedmay be credited to your account at the end of your monthly, interest is credited monthly on the last business day of the quarterly, or annual cycle, or at maturity . See the account-specific disclosure and at maturity. Certificates with terms of 12 months or more, interest is compounded dailyFee Schedule for details . Interest is credited monthly on paid to the last business day of each payment period, the cycledate of withdrawal, and/or the maturity date . Interest may be lost on some accounts if the account is closed prior to the end of the statement period or the regular interest crediting date . Matured Time Deposits‌ At maturity, certain time deposit accounts will automatically renew for a new term at the rate then in effect for accounts of the same type, amount and duration. You have a ten calendar day grace period after maturity during which a withdrawal can be made without penalty. We reserve the right to change the rate of interest for automatically renewable accounts at each renewal period. If we elect not to permit the renewal of an automatically renewable time deposit, we will notify you in advance. Unless specifically stated otherwise, any bonus or special promotion we are offering will not apply to automatically renewing time deposits. Time deposit accounts which do not automatically renew will stop earning interest at maturity. If you close your account before interest is credited, you will receive the accrued interest. Your interest rate and annual percentage yield may change. At our discretion we may change the interest rate on your account at any time. Accrual of interest on non-cash items (for example, checks) you deposit will begin on the business day you deposit such non-cash items. Interest is compounded daily and credited monthly on the last business day of the cycle. If you close your account before interest is credited, you will not receive the accrued interest.

Holds on Other Funds. If we cash a share draft or check for you that is drawn on another bankfinancial institution, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the share draft or check we cashed would have been available if you had deposited it. If we accept for deposit a share draft or check that is drawn on another bankfinancial institution, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with usthe Credit Union. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of share draft of check that you deposited. Longer Delays May Apply: We may delay your ability to withdraw funds deposited by check into your account an additional number of days for these reasons: Deposits (cash at Automated Teller Machines: Funds from any deposits, whether cash, share drafts or checks) , made at automated teller machines (ATMs) we own or operate prior to 8:00 A.M. on a not owned by NDFCU will not be available until the second business day after the day of your deposit. Deposits to NDFCU owned ATMs that we are open accept deposits will be treated given immediate credit. Special Rules for New Accounts: If you are a new member, the following special rules will apply during the first 90 days your account is open: Foreign Checks: Checks drawn on financial institutions located outside the US (foreign checks) cannot be processed the same as deposited that daychecks drawn on US financial institutions. Funds Foreign checks are exempt from the policies outlined in this disclosure. Generally, the availability of funds for deposits made after 8:00 A.M. or on a day we are not open of foreign checks will be treated as delayed for the time it takes us to collect the funds from the financial institution upon which it is drawn. The final settlement amount of the check may be affected by currency exchange rates. Any difference will be deposited on the next business day we are openor withdrawn from your account. Deposits are only accepted at machines that we own or operate. All ATMs that we own or operate are identified as our machines. Deposits (checks) made by remote deposit capture Electronic and Remote Access for Accounts Enrollment: Self-enrollment in online/electronic services is provided through the North Brookfield Savings Bank Mobile Banking app prior to 3:00 P.M. on a business day that we are open will be treated as deposited that day. Funds from deposits made after 3:00 P.M. or on a non-business day will be treated as deposited on the next business day we are open. This Disclosure Statement sets forth certain terms relating to your Accounts with us. These terms are part of your contract with us credit union website and are binding upon both of us. These accounts do not earn interest. Accrual of interest on non-cash items (for example, checks) you deposit will begin on the business day you deposit such non-cash items. Certificates with terms of less than 12 months, interest is not compounded, interest is credited monthly on the last business day of the cycle, and at maturity. Certificates with terms of 12 months or more, interest is compounded daily. Interest is credited monthly on the last business day of the cycle, and at maturity. If you close your account before interest is credited, you will receive the accrued interest. Your interest rate and annual percentage yield may change. At our discretion we may change the interest rate on your account at any time. Accrual of interest on non-cash items (for example, checks) you deposit will begin on the business day you deposit such non-cash items. Interest is compounded daily and credited monthly on the last business day of the cycle. If you close your account before interest is credited, you will not receive the accrued interestmobile app.

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. If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately immediately, but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited. Deposits INTEREST ON DEPOSITS Interest Rates. Interest rates paid on our accounts are determined by our management, based on market conditions and other business factors. Except for time deposits (cash which earn the same interest rate through maturity), the interest rate and Annual Percentage Yield on deposits can change as often as daily, at our discretion, without prior notice to you. On tiered-rate accounts, the entire balance is subject to the interest rate for the balance tier of your end-of-day balance. For current rates, please call or checks) made visit one of our offices or contact us at automated teller machines 0-000-000-0000. Interest Calculations. Interest is calculated on an actual/365 day basis (ATMs) we own or operate prior 366 days for leap years), except for certain public fund accounts where interest is calculated on an actual/360 day basis. Interest begins to 8:00 A.M. on a business day that we are open will be treated as deposited that day. Funds from deposits made after 8:00 A.M. or on a day we are not open will be treated as deposited on accrue no later than the next business day we are open. Deposits are only accepted at machines that we own or operate. All ATMs that we own or operate are identified as our machines. Deposits (checks) made by remote receive credit for the deposit capture through the North Brookfield Savings Bank Mobile Banking app prior to 3:00 P.M. on a business day that we are open will be treated as deposited that day. Funds from deposits made after 3:00 P.M. or on a non-business day will be treated as deposited on the next business day we are open. This Disclosure Statement sets forth certain terms relating to your Accounts with us. These terms are part of your contract with us and are binding upon both of us. These accounts do not earn interest. Accrual of interest on non-cash noncash items (for example, checks) you deposit will begin ). 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. Payment of Interest. Depending on the business day you deposit such non-cash items. Certificates with terms of less than 12 monthsaccount, interest is not compounded, interest is may be credited to your account at the end of your monthly on the last business day of the or quarterly cycle, and at maturity, or when your account is closed. Certificates with terms of 12 months or more, interest is compounded dailySee your account disclosure for details. Interest is credited monthly on paid to the last business day of each payment period, the cycledate of withdrawal, and the maturity date. Interest may be lost on some accounts if the account is closed prior to the end of the statement period or the regular interest payment date. Matured Time Deposits. At maturity, certain time deposit accounts will automatically renew for a new term at the rate then in effect for accounts of the same type, amount and duration. You have a 10-calendar day grace period after maturity during which a withdrawal can be made without penalty. We reserve the right to change the rate of interest for automatically renewable accounts at each renewal period. If we elect not to permit the renewal of an automatically renewable time deposit, we will notify you in advance. Unless specifically stated otherwise, any bonus or special promotion we are offering will not apply to automatically renewing time deposits. Time deposit accounts which do not automatically renew will stop earning interest at maturity. If you close your account before interest is credited, you will receive the accrued interest. Your interest rate and annual percentage yield may change. At our discretion we may change the interest rate on your account at any time. Accrual of interest on non-cash items (for example, checks) you deposit will begin on the business day you deposit such non-cash items. Interest is compounded daily and credited monthly on the last business day of the cycle. If you close your account before interest is credited, you will not receive the accrued interest.

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. If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited. Deposits (cash or checks) made at automated teller machines (ATMs) we own or operate prior to 8:00 A.M. on a business day that we are open will be treated as deposited that day. Funds from deposits made after 8:00 A.M. or on a day we are not open will be treated as deposited on the next business day we are open. Deposits are only accepted at machines that we own or operate. All ATMs that we own or operate are identified as our machines. Deposits (checks) made by remote deposit capture through the North Brookfield Savings Bank Mobile Banking app prior to 3:00 P.M. on a business day that we are open will be treated as deposited that day. Funds from deposits made after 3:00 P.M. or on a non-business day will be treated as deposited on the next business day we are open. This Disclosure Statement sets forth certain terms relating to your Accounts with us. These terms are part of your contract with us and are binding upon both of us. These accounts do not earn interest. Accrual of interest on non-cash items (for example, checks) you deposit will begin on the business day you deposit such non-cash items. Certificates with terms of less than 12 months, interest is not compounded, interest is credited monthly on the last business day of the cycle, and at maturity. Certificates with terms of 12 months or more, interest is compounded daily. Interest is credited monthly on the last business day of the cycle, and at maturity. If you close your account before interest is credited, you will receive the accrued interest. Your interest rate and annual percentage yield may change. At our discretion we may change the interest rate on your account at any time. Accrual of interest on non-cash items (for example, checks) you deposit will begin on the business day you deposit such non-cash items. Interest is compounded daily and credited monthly on the last business day of the cycle. If you close your account before interest is credited, you will not receive the accrued interest.