Electronic Funds Transfers

Your Rights and Responsibilities

Indicated below are types of Electronic Fund Transfers we are capable of handling, some of which may not apply to your account. Please read this disclosure carefully because it tells you your rights and obligations for the transactions listed. You should keep this notice for future reference.

Electronic Fund Transfers Initiated By Third Parties. You may authorize a third party to initiate electronic fund transfers between your account and the third party’s account. These transfers to make or receive payment may be one-time occurrences or may recur as directed by you. These transfers may use the Automated Clearing House (ACH) or other payments network. Your authorization to the third party to make these transfers can occur in a number of ways. For example, your authorization to convert a check to an electronic fund transfer or to electronically pay a returned check charge can occur when a merchant provides you with notice and you go forward with the transaction (typically, at the point of purchase, a merchant will post a sign and print the notice on a receipt). In all cases, these third party transfers will require you to provide the third party with your account number and bank information. This information can be found on your check as well as on a deposit or withdrawal slip. Thus, you should only provide your bank and account information (whether over the phone, the Internet, or via some other method) to trusted third parties whom you have authorized to initiate these electronic fund transfers. Examples of these transfers include, but are not limited to:

  • Preauthorized credits. You may make arrangements for certain direct deposits to be accepted into your checking or savings account(s).
  • Preauthorized payments. You may make arrangements to pay certain recurring bills from your checking or savings account(s).
  • Electronic check conversion. You may authorize a merchant or other payee to make a one-time electronic payment from your checking account using information from your check to pay for purchases or pay bills.
  • Electronic returned check charge. You may authorize a merchant or other payee to initiate an electronic funds transfer to collect a charge in the event a check is returned for insufficient funds.

Person to Person Telephone Transfers – types of transfers, dollar limitations, and charges – You may access your account by telephone using your account numbers, your social security number, and date and amount of last deposit, to:

  • transfer funds from checking to checking
  • transfer funds from checking to savings
  • transfer funds from savings to checking
  • transfer funds from savings to savings
  • transfer funds from line of credit to checking
    • you may transfer a minimum of $250.00
    • there is a charge of $25.00 if transfer is less than $250.00
  • transfer funds from line of credit to savings
    • you may transfer a minimum of $250.00
    • there is a charge of $25.00 if transfer is less than $250.00
  • make payments from checking to loan accounts with us
  • make payments from savings to loan accounts with us
  • get information about:
    • account balance of checking accounts
    • account balance of savings accounts

Touchtone Banking Telephone Transfers – types of transfers – You may access your account by telephone by calling (575) 234-2525, 24 hours a day, seven days a week, using your personal identification number, a touch tone phone, your account numbers, and your social security number, to:

  • transfer funds from checking to checking
  • transfer funds from checking to savings
  • transfer funds from savings to checking
  • transfer funds from savings to savings
  • make payments from checking to loan accounts with us
  • make payments from savings to loan accounts with us
  • get information about:
    • account balances (including CDs, IRAs, and loan accounts with us)
    • interest rates, maturity dates, and payments

ATM Transfers – NYCE and Pulse® Networks – types of transfers, frequency and dollar limitations, and charges – You may access your account(s) by using your ATM card and personal identification number or VISA® DebitCard and personal identification number, to:

  • make deposits to checking account(s)
  • make deposits to savings account(s)
  • get cash withdrawals from checking or savings account(s)
    • you may make no more than three withdrawals per day
    • you may withdraw no more than $500.00 per day
    • there is a charge of $2.00 at ATMs we do not own or operate
  • transfer funds from savings to checking account(s)
    • you may make no more than three transfers per day
  • transfer funds from checking to savings account(s)
    • you may make no more than three transfers per day
  • get information about:
    • the account balance of your checking account(s)
    • the account balance of your savings account(s)

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

Types of ATM Card Point-of-Sale Transactions – You may access your checking account(s) to purchase goods (in person) and pay for services (in person).

Point-of-Sale Transactions – dollar limitations – Using your card:

  • you may not exceed $2,500.00 in transactions per day unless pre-authorized by CNB Bank

Types of VISA® DebitCard Point-of-Sale Transactions – You may access your checking account(s) to purchase goods (in person or by phone), pay for services (in person or by phone), get cash from a merchant, if the merchant permits, or from a participating financial institution, and do anything that a participating merchant will accept.

Point-of-Sale Transactions – dollar limitations – Using your card:

  • you may not exceed $2,500.00 in transactions per day unless pre-authorized by CNB Bank

Currency Conversion and International Transactions.

(a) For point-of-sale (merchant) transactions. When you use your VISA® DebitCard for this type of transaction and it settles in a currency other than US Dollars, the charge will be converted into the US Dollar amount. The currency conversion rate used to determine the transaction amount in US Dollars is either a rate selected by Visa from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate Visa itself receives, or the government-mandated rate in effect for the applicable central processing date. The conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or posting date.

Visa USA charges us a .8% International Service Assessment on all international transactions if there is no currency conversion. If there is a currency conversion, the International Service Assessment is 1% of the transaction. As a result, we will charge you a .8% international transaction fee on all international transactions if there is no currency conversion. If there is a currency conversion, we will charge you an international transaction fee of 1% of the transaction. An international transaction is a transaction where the country of the merchant is outside the USA.

(b) For ATM transactions. When you use your VISA® DebitCard for this type of transaction and it settles in a currency other than US Dollars, MasterCard/Cirrus will convert the charge into a US Dollar amount. The MasterCard/Cirrus currency conversion procedure includes use of either a government-mandated exchange rate, or a wholesale exchange rate selected by MasterCard/Cirrus. The exchange rate MasterCard/Cirrus uses will be a rate in effect on the day the transaction is processed. This rate may differ from the rate in effect on the date of purchase or the date the transaction was posted to your account.

MasterCard/Cirrus charges us a Currency Conversion Assessment of 20 basis points (.2% of the transaction) for performing the currency conversion. In addition, MasterCard/Cirrus charges us an Issuer Cross-Border Assessment of 90 basis points (.9% of the transaction) on all cross-border transactions regardless of whether there is a currency conversion. As a result, we will charge you a currency conversion fee of .2% of the transaction if there is a currency conversion and a cross-border transaction fee of .9% of the transaction. The cross-border transaction fee is charged on all cross-border transactions regardless of whether there is a currency conversion. A cross-border transaction is a transaction processed through the Global Clearing Management System or the MasterCard Debit Switch in which the country of the merchant is different than the country of the cardholder.

Advisory Against Illegal Use. You agree not to use your card(s) for illegal gambling or other illegal purpose. Display of a payment card logo by, for example, an online merchant does not necessarily mean that transactions are lawful in all jurisdictions in which the cardholder may be located.

Internet Banking Computer Transfers – types of transfers and charges – You may access your account(s) by computer or mobile device at www.carlsbadnational.com and using your user name and password, to:

  • transfer funds from checking to checking
  • transfer funds from checking to savings
  • transfer funds from savings to checking
  • transfer funds from savings to savings
  • transfer funds from line of credit to checking
  • transfer funds from line of credit to savings
  • make payments from checking to loan accounts with us
  • make payments from checking to third parties with Bill Pay
  • transfer funds from checking to another financial institution
  • transfer funds from savings to another financial institution
    • you may not transfer more than $2,500.00 per day, to another financial institution, unless pre-authorized by Carlsbad National Bank
  • get information about:
    • the account balance of checking accounts
    • the last 18 months deposits to checking accounts, based on account opening
    • the last 18 months withdrawals from checking accounts, based on account opening
    • the account balance of savings accounts
    • the last 18 months deposits to savings accounts, based on account opening
    • the last 18 months withdrawals from savings accounts, based on account opening

Fees

  • We do not charge for direct deposits to any type of account.
  • We charge for preauthorized withdrawals. Please refer to your account disclosure.

Except as indicated elsewhere, we do not charge for these electronic fund transfers.

ATM Operator/Network Fees. When you use an ATM not owned by us, you may be charged a fee by the ATM operator or any network used (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer).

Documentation

  • Terminal transfers. You can get a receipt at the time you make a transfer to or from your account using an automated teller machine or point-of-sale terminal. However, you may not get a receipt if the amount of the transfer is $15 or less.
  • Preauthorized credits. If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call us at (575) 234-2500 to find out whether or not the deposit has been made.
  • Periodic statements.
    • You will get a monthly account statement from us for your checking accounts.
    • You will get a monthly account statement from us for your savings accounts, unless there are no transfers in a particular month. In any case, you will get a statement at least quarterly.

Preauthorized Payments

  • Right to stop payment and procedure for doing so. If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here is how:
    • Call or write us at the telephone number or address listed in this brochure in time for us to receive your request 3 business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call.
    • We will charge you $25.00 for each stop-payment order you give.
  • Notice of varying amounts. If these regular payments may vary in amount, the person you are going to pay will tell you, 10 days before each payment, when it will be made and how much it will be. (You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.)
  • Liability for failure to stop payment of preauthorized transfer. If you order us to stop one of these payments 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

Financial Institution’s Liability

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 you have an overdraft line and the transfer would go over the credit limit.
  • If the automated teller machine 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 circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
  • There may be other exceptions stated in our agreement with you.

Confidentiality

We will disclose information to third parties about your account or the transfers you make:

  • 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
  • as explained in the separate Privacy Disclosure.

Unauthorized Transfers

(a) Consumer liability.

  • Generally. Tell us AT ONCE if you believe your card and/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 your card and/or code, you can lose no more than $50 if someone used your card and/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 card and/or code, and we can prove we could have stopped someone from using your card and/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 periods.

  • Additional Limit on Liability for VISA® DebitCard. Unless you have been grossly negligent or have engaged in fraud, you will not be liable for any unauthorized transactions using your lost or stolen VISA® DebitCard. This additional limit on liability does not apply to ATM transactions outside of the U.S., to ATM transactions not sent over Visa or Plus networks, or to transactions using your Personal Identification Number which are not processed by VISA®. Visa is a registered trademark of Visa International Service Association.

(b) Contact in event of unauthorized transfer. If you believe your card and/or code has been lost or stolen, call or write us at the telephone number or address listed in this brochure. You should also call the number or write to the address listed in this brochure if you believe a transfer has been made using the information from your check without your permission.

Error Resolution Notice

In Case of Errors or Questions About Your Electronic Transfers, Call or Write us at the telephone number or address listed in this brochure, as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.

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

We will determine whether an error occurred within 10 business days (5 business days for VISA DebitCard point-of-sale transactions processed by Visa and 20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a new account, a point-of-sale transaction, or a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (5 business days for VISA DebitCard point-of-sale transactions processed by Visa and 20 business days if the transfer involved a new account) 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. Your account is considered a new account for the first 30 days after the first deposit is made, unless each of you already has an established account with us before this account is opened.

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.

CNB Bank
ELECTRONIC FUNDS DEPARTMENT
P.O. BOX 1359
CARLSBAD, NEW MEXICO 88221
Business Days: Monday through Friday
Excluding Federal Holidays
Phone: (575) 234-2500

MORE DETAILED INFORMATION IS AVAILABLE ON REQUEST

Your Ability to Withdraw Funds

This policy statement applies to all deposit accounts.

Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once the funds are available, you can withdraw them in cash and we will use the funds to pay checks that you have written.

Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving 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 3:00 P.M. 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 3:00 P.M. or on a day we are not open, we will consider that the deposit was made on the next business day we are open.
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.

Longer Delays May Apply

Case-by-case delays. 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 second business day after the day of your deposit. The first $225 of your deposits, however, will be available on the first business day.

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.

Safeguard exceptions. In addition, 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 $5,525 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 business day after the day of your deposit.

Special Rules for New Accounts

If you are a new customer, the following special rules will apply during the first 30 days your account is open.

Funds from electronic direct deposits to 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 first business day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you (and you may have to use a special deposit slip). The excess over $5,525 will be available on the ninth 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 ninth business day after the day of your deposit.

Overdraft Privilege Policy (Service Description)

(A Discretionary Overdraft Service)

It is the policy of CNB Bank to comply with applicable laws and regulations, and to conduct business in accordance with applicable safety and soundness standards. A non-sufficient funds (overdraft/negative) balance may result from: A) The payment of checks, electronic funds transfers, or other withdrawal requests you initiate; B) Payments authorized by you; C) The return, unpaid, of items deposited by you; D) Charging your account for applicable service charges and fees; or E) The deposit of items to your account which according to CNB Bank’s Funds Availability Policy, are treated as not yet “available” or finally paid. We are not obligated to pay any item initiated for payment if your account does not contain sufficient collected funds.

Rather than automatically returning, unpaid, any non-sufficient funds items that you may have, if your “eligible account type” (primarily used for personal and household purposes) has been open for at least sixty (60) days and thereafter you maintain your account in good standing, which includes at least: (A) Continuing to make deposits consistent with your past practices, and depositing at least $400 or more in your account within each thirty (30) day period, (B) You are not in default on any loan obligation to CNB Bank, (C) You bring your account to a positive balance (not overdrawn) at least once every thirty (30) days. You have no legal right to defer payment of your outstanding overdrafts including our fees, and (D) Your account is not the subject of any legal or administrative order or levy, such as bankruptcy or a tax lien, we will consider, without obligation on our part, approving your reasonable overdrafts up to your assigned Overdraft Privilege Limit. This discretionary* service will generally be limited to a $400 overdraft (negative) balance for Convenience Checking accounts or a $700 overdraft (negative) balance for Premier Checking, Interest Checking, Senior and Senior Plus Checking accounts. For all “eligible account types” with reoccurring direct deposit transactions an additional “$300 may be added to the overdraft (negative) balance allowance”. Our normal bank fees and charges, including without limitation our non-sufficient funds/overdraft fees as set forth in our fee schedules will be included in these limits and will be charged for each transaction presented for payment against non-sufficient funds creating an overdrawn balance of more than $10. We will charge our normal fee whether we approve the item for payment or not, however, we will not charge for more than four (4) items either as overdraft or non-sufficient funds for any one account on any one banking day.

We may refuse to pay an overdraft for you at any time, even though your account is in good standing and even though we may have previously paid overdrafts for you. You will be notified by mail of any non-sufficient funds items paid or returned that you may have; however, we have no obligation to notify you before we pay or return any item. The amount of any overdrafts including our fees that you owe us shall be due and payable immediately. If there is an overdraft paid by us on an account with more than one (1) owner on the signature card, each owner, and agent if applicable, drawing/presenting the item creating the overdraft, shall be jointly and severally liable for such overdrafts including fees.

Ineligible Accounts and Limitations: Available only for eligible checking accounts that are maintained in good standing as defined above. Savings Accounts, Money Management Accounts, Public Fund/Charitable Organization Accounts, Certain Trust Accounts, accounts used primarliy for commerical purposes, and any Minor Accounts not of legal age are not eligible for this service. We may, at our sole option and discretion, limit the number of your accounts eligible for the Overdraft Privilege Service to one account per household and/or one account per taxpayer identification number.

Eligible Account Types: The account types that are eligible for the Overdraft Privilege Service are: Convenience Checking, Premier Checking, Interest Checking, Senior Checking and Senior Plus Checking.

Eligible Account Transaction Types: NSF transactions initiated for payment against your checking account(s) may be approved/paid by us using, and up to, your assigned Overdraft Privilege Service Limit, including our fees. The eligible transaction types will include, without limitation: Checks, ACH, ATM**, POS**, Internet Banking or Internet Bill Payment and Transfers, and Telephone Banking Payments and Transfers.

You May Always OPT OUT: You may choose at any time to not participate in the Overdraft Privilege Service by notifying in person or by phone any customer service representative.

If You Need Help: Of course, overdrafts should not be used to pay ordinary or routine expenses and you should not rely on overdrafts as a means to cover these expenses. If at any time you feel you need help with your financial obligations please contact one of our customer service representatives at 575-234-2500.

The Senior Operations Officer of the bank is responsible for accountability of the OVERDRAFT PRIVILEGESM SERVICE.

*The Overdraft Privileges Service does not constitute an actual or implied agreement between you and CNB Bank. Nor does it constitute an actual or implied obligation of or by CNB Bank. This service represents a purely discretionary courtesy or privilege that CNB Bank may provide to you from time to time and which may be withdrawn by us at any time without prior notice or reason or cause. ** We do not authorize and pay overdrafts for ATM transactions and everyday debit card transactions unless you ask us to.

_____________________________________________   _________
Approved: CNB Bank – Carlsbad, NM                                                       Date

Terms and Conditions

Terms and Conditions of your Account

IMPORTANT ACCOUNT OPENING INFORMATION – Federal law requires us to obtain sufficient information to verify your identity. You may be asked several questions and to provide one or more forms of identification to fulfill this requirement. In some instances we may use outside sources to confirm the information. The information you provide is protected by our privacy policy and federal law.

AGREEMENT – This document, along with any other documents we give you pertaining to your account(s), is a contract that establishes rules which control your account(s) with us. Please read this carefully and retain it for future reference. If you sign the signature card or open or continue to use the account, you agree to these rules. You will receive a separate schedule of rates, qualifying balances, and fees if they are not included in this document. If you have any questions, please call us.
This agreement is subject to applicable federal laws, the laws of the state of New Mexico and other applicable rules such as the operating letters of the Federal Reserve Banks and payment processing system rules (except to the extent that this agreement can and does vary such rules or laws). The body of state and federal law that governs our relationship with you, however, is too large and complex to be reproduced here. The purpose of this document is to:
(1) summarize some laws that apply to common transactions;
(2) establish rules to cover transactions or events which the law does not regulate;
(3) establish rules for certain transactions or events which the law regulates but permits variation by agreement; and
(4) give you disclosures of some of our policies to which you may be entitled or in which you may be interested.

If any provision of this document is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect. We may permit some variations from our standard agreement, but we must agree to any variation in writing either on the signature card for your account or in some other document. Nothing in this document is intended to vary our duty to act in good faith and with ordinary care when required by law.
As used in this document the words “we,” “our,” and “us” mean the financial institution and the words “you” and “your” mean the account holder(s) and anyone else with the authority to deposit, withdraw, or exercise control over the funds in the account. However, this agreement does not intend, and the terms “you” and “your” should not be interpreted, to expand an individual’s responsibility for an organization’s liability. If this account is owned by a corporation, partnership or other organization, individual liability is determined by the laws generally applicable to that type of organization. The headings in this document are for convenience or reference only and will not govern the interpretation of the provisions. Unless it would be inconsistent to do so, words and phrases used in this document should be construed so the singular includes the plural and the plural includes the singular. “Party” means a person who, by the terms of an account, has a present right, subject to request, to payment from the account other than as a beneficiary or agent.

LIABILITY – You agree, for yourself (and the person or entity you represent if you sign as a representative of another) to the terms of this account and the schedule of charges. You authorize us to deduct these charges, without notice to you, directly from the account balance as accrued. You will pay any additional reasonable charges for services you request which are not covered by this agreement.
Each of you also agrees to be jointly and severally (individually) liable for any account shortage resulting from charges or overdrafts, whether caused by you or another with access to this account. This liability is due immediately, and we can deduct any amounts deposited into the account and apply those amounts to the shortage. You have no right to defer payment of this liability, and you are liable regardless of whether you signed the item or benefited from the charge or overdraft.
You will be liable for our costs as well as for our reasonable attorneys’ fees, to the extent permitted by law, whether incurred as a result of collection or in any other dispute involving your account. This includes, but is not limited to, disputes between you and another joint owner; you and an authorized signer or similar party; or a third party claiming an interest in your account. This also includes any action that you or a third party takes regarding the account that causes us, in good faith, to seek the advice of an attorney, whether or not we become involved in the dispute. All costs and attorneys’ fees can be deducted from your account when they are incurred, without notice to you.

DEPOSITS – We will give only provisional credit until collection is final for any items, other than cash, we accept for deposit (including items drawn “on us”). Before settlement of any item becomes final, we act only as your agent, regardless of the form of indorsement or lack of indorsement on the item and even though we provide you provisional credit for the item. We may reverse any provisional credit for items that are lost, stolen, or returned. Unless prohibited by law, we also reserve the right to charge back to your account the amount of any item deposited to your account or cashed for you which was initially paid by the payor bank and which is later returned to us due to an allegedly forged, unauthorized or missing indorsement, claim of alteration, encoding error, counterfeit cashier’s check or other problem which in our judgment justifies reversal of credit. You authorize us to attempt to collect previously returned items without giving you notice, and in attempting to collect we may permit the payor bank to hold an item beyond the midnight deadline. Actual credit for deposits of, or payable in, foreign currency will be at the exchange rate in effect on final collection in U.S. dollars. We are not responsible for transactions by mail or outside depository until we actually record them. We will treat and record all transactions received after our “daily cutoff time” on a business day we are open, or received on a day we are not open for business, as if initiated on the next business day that we are open. At our option, we may take an item for collection rather than for deposit. If we accept a third-party check or draft for deposit, we may require any third-party indorsers to verify or guarantee their indorsements, or indorse in our presence.

WITHDRAWALS – Generally Unless clearly indicated otherwise on the account records, any of you, acting alone, who signs to open the account or has authority to make withdrawals may withdraw or transfer all or any part of the account balance at any time. Each of you (until we receive written notice to the contrary) authorizes each other person who signs or has authority to make withdrawals to indorse any item payable to you or your order for deposit to this account or any other transaction with us.
Postdated checks – A postdated check is one which bears a date later than the date on which the check is written. We may properly pay and charge your account for a postdated check even though payment was made before the date of the check, unless we have received written notice of the postdating in time to have a reasonable opportunity to act. Because we process checks mechanically, your notice will not be effective and we will not be liable for failing to honor your notice unless it precisely identifies the number, date, amount and payee of the item.
Checks and withdrawal rules – If you do not purchase your check blanks from us, you must be certain that we approve the check blanks you purchase. We may refuse any withdrawal or transfer request which you attempt on forms not approved by us or by any method we do not specifically permit. We may refuse any withdrawal or transfer request which is greater in number than the frequency permitted by our policy, or which is for an amount greater or less than any withdrawal limitations. We will use the date the transaction is completed by us (as opposed to the date you initiate it) to apply any frequency limitations. In addition, we may place limitations on the account until your identity is verified.
Even if we honor a nonconforming request, we are not required to do so later. If you violate the stated transaction limitations (if any), in our discretion we may close your account or reclassify your account as another type of account. If we reclassify your account, your account will be subject to the fees and earnings rules of the new account classification.
If we are presented with an item drawn against your account that would be a “substitute check,” as defined by law, but for an error or defect in the item introduced in the substitute check creation process, you agree that we may pay such item.
Cash withdrawals – We recommend you take care when making large cash withdrawals because carrying large amounts of cash may pose a danger to your personal safety. As an alternative to making a large cash withdrawal, you may want to consider a cashier’s check or similar instrument. You assume full responsibility of any loss in the event the cash you withdraw is lost, stolen, or destroyed. You agree to hold us harmless from any loss you incur as a result of your decision to withdraw funds in the form of cash.
Multiple signatures, electronic check conversion, and similar transactions – An electronic check conversion transaction is a transaction where a check or similar item is converted into an electronic fund transfer as defined in the Electronic Fund Transfers regulation. In these types of transactions the check or similar item is either removed from circulation (truncated) or given back to you. As a result, we have no opportunity to review the signatures or otherwise examine the original check or item. You agree that, as to these or any items as to which we have no opportunity to examine the signatures, you waive any requirement of multiple signatures.

UNDERSTANDING AND AVOIDING OVERDRAFT AND NONSUFFICIENT FUNDS (NSF) FEES –
Generally – The information in this section is being provided to help you understand what happens if your account is overdrawn. Understanding the concepts of overdrafts and nonsufficient funds (NSF) is important and can help you avoid being assessed fees or charges. This section also provides contractual terms relating to overdrafts and NSF transactions.
An overdrawn account will typically result in you being charged an overdraft fee or an NSF fee. Generally, an overdraft occurs when there is not enough money in your account to pay for a transaction, but we pay (or cover) the transaction anyway. An NSF transaction is slightly different. In an NSF transaction, we do not cover the transaction. Instead, the transaction is rejected and the item or requested payment is returned. In either situation, we can charge you a fee.
If you use our Overdraft Protection Program and we cover a transaction for which there is not enough money in your account to pay, we will consider that an overdraft. We treat all other transactions for which there is not enough money in your account as an NSF transaction, regardless of whether we cover the transaction or the transaction is rejected.
Determining your available balance – We use the “available balance” method to determine whether your account is overdrawn, that is, whether there is enough money in your account to pay for a transaction. Importantly, your “available” balance may not be the same as your account’s “actual” balance. This means an overdraft or an NSF transaction could occur regardless of your account’s actual balance.
Your account’s actual balance (sometimes called the ledger balance) only includes transactions that have settled up to that point in time, that is, transactions (deposits and payments) that have posted to your account. The actual balance does not include outstanding transactions (such as checks that have not yet cleared and electronic transactions that have been authorized but which are still pending). The balance on your periodic statement is the ledger balance for your account as of the statement date.
As the name implies, your available balance is calculated based on the money “available” in your account to make payments. In other words, the available balance takes transactions that have been authorized, but not yet settled, and subtracts them from the actual balance. In addition, when calculating your available balance, any “holds” placed on deposits that have not yet cleared are also subtracted from the actual balance. For more information on how holds placed on funds in your account can impact your available balance, read the subsection titled “A temporary debit authorization hold affects your account balance.” If you opt-in to the Overdraft Protection Program, payment decisions are made by using your available balance plus your overdraft limit. Check and Debit card authorizations are determined by the combined available balance and overdraft limit. For instance, if you have an available balance of $100.00, and an overdraft limit of $1,000.00, you may be able to authorize a transaction of up to $1,100.00; however, NSF or Overdraft fees may be assessed if you spend more than your available balance.
Overdrafts – You understand that we may, at our discretion, honor withdrawal requests that overdraw your account. However, the fact that we may honor withdrawal requests that overdraw the account balance does not obligate us to do so later. So you can NOT rely on us to pay overdrafts on your account regardless of how frequently or under what circumstances we have paid overdrafts on your account in the past. We can change our practice of paying, or not paying, discretionary overdrafts on your account without notice to you. You can ask us if we have other account services that might be available to you where we commit to paying overdrafts under certain circumstances, such as an overdraft protection line-of-credit or a plan to sweep funds from another account you have with us. You agree that we may charge fees for overdrafts. For consumer accounts, we will not charge fees for overdrafts caused by ATM withdrawals or one-time debit card transactions if you have not opted-in to that service. We may use subsequent deposits, including direct deposits of social security or other government benefits, to cover such overdrafts and overdraft fees.
Nonsufficient funds (NSF) fees – If an item drafted by you (such as a check) or a transaction you set up (such as a preauthorized transfer) is presented for payment in an amount that is more than the amount of money available in your account, and we decide not to pay the item or transaction, you agree that we can charge you an NSF fee for returning the payment. Be aware that such an item or payment may be presented multiple times and that we do not monitor or control the number of times a transaction is presented for payment. You agree that we may charge you an NSF fee each time a payment is presented if the amount of money available in your account is not sufficient to cover the payment, regardless of the number of times the payment is presented. However, at no time will you be charged for more than four (4) NSF or Overdraft fees in one day.
Payment types – Some, but not necessarily all, of the ways you can access the funds in your account include debit card transactions, automated clearing house (ACH) transactions, and check transactions. All these payment types can use different processing systems and some may take more or less time to post. This information is important for a number of reasons. For example, keeping track of the checks you write and the timing of the preauthorized payments you set up will help you to know what other transactions might still post against your account. For information about how and when we process these different payment types, see the “Payment order of items” subsection below.
Balance information – Keeping track of your balance is important. You can review your balance in a number of ways including reviewing your periodic statement, reviewing your balance online, accessing your account information by phone, or coming into one of our branches.
Funds availability – Knowing when funds you deposit will be made available for withdrawal is another important concept that can help you avoid being assessed fees or charges. Please see our funds availability disclosure for information on when different types of deposits will be made available for withdrawal. For those accounts to which our funds availability policy disclosure does not apply, you can ask us when you make a deposit when those funds will be available for withdrawal. An item may be returned after the funds from the deposit of that item are made available for withdrawal. In that case, we will reverse the credit of the item. We may determine the amount of available funds in your account for the purpose of deciding whether to return an item for insufficient funds at any time between the times we receive the item and when we return the item or send a notice in lieu of return. We need only make one determination, but if we choose to make a subsequent determination, the account balance at the subsequent time will determine whether there are insufficient available funds.
Payment order of items – The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. The payment order can affect the number of items overdrawn or returned unpaid and the amount of the fees you may have to pay. To assist you in managing your account, we are providing you with the following information regarding how we process those items.
Our policy is to process forced pay items first, by dollar amount – smallest to largest on the day they are processed. We process checking withdrawals second, by dollar amount – smallest to largest on the day they are processed. We process returned items third, by dollar amount – smallest to largest on the day they are processed. We process telephone banking and phone transfers fourth, by dollar amount – smallest to largest on the day they are processed. We process PIN-based debit card items fifth, by dollar amount – smallest to largest on the day they are processed. We process signature-based debit card items sixth, by dollar amount – smallest to largest on the day they are processed. We process ATM withdrawals seventh, by dollar amount – smallest to largest on the day they are processed. We process ACH items eighth, by dollar amount – smallest to largest on the day they are processed. We process savings withdrawals ninth, by dollar amount – smallest to largest on the day they are processed. We process on-us checks tenth, by dollar amount – smallest to largest on the day they are processed. We process Federal Reserve checks eleventh, by dollar amount – smallest to largest on the day they are processed. We process service charges and transaction fees twelfth, by dollar amount – smallest to largest on the day they are processed.
If a check, item or transaction is presented without sufficient funds in your account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item for insufficient funds (NSF). We will not charge you a fee for paying an overdraft of an ATM or everyday debit card transaction if this is a consumer account and you have not opted-in to that service. The amounts of the overdraft and NSF fees are disclosed elsewhere, as are your rights to opt in to overdraft services for ATM and everyday debit card transactions, if applicable. We encourage you to make careful records and practice good account management. This will help you to avoid creating items without sufficient funds and potentially incurring the resulting fees.

OWNERSHIP OF ACCOUNT AND BENEFICIARY DESIGNATION – These rules apply to this account depending on the form of ownership and beneficiary designation, if any, specified on the account records. We make no representations as to the appropriateness or effect of the ownership and beneficiary designations, except as they determine to whom we pay the account funds.

  • Single-Party Account – Such an account is owned by one party.
  • Multiple-Party Account – Parties own account in proportion to net contributions unless there is clear and convincing evidence of a different intent.

RIGHTS AT DEATH – Single-Party Account – At the death of a party, ownership passes as part of the party’s estate.
Multiple-Party Account With Right of Survivorship – At death of party, ownership passes to surviving parties. If two or more parties survive and one is the surviving spouse of the deceased party, the amount to which the deceased party, immediately before death, was beneficially entitled by law belongs to the surviving spouse. If two or more parties survive and none is the spouse of the decedent, the amount to which the deceased party, immediately before death, was beneficially entitled by law belongs to the surviving parties in equal shares, and augments the proportion to which each surviving party, immediately before the deceased party’s death, was beneficially entitled under law, and the right of survivorship continues between the surviving parties.
Multiple-Party Account Without Right of Survivorship – At death of party, deceased party’s ownership passes as part of deceased party’s estate.

  • Single-Party Account With Pay-on-Death Designation – At death of the party, ownership passes to the designated pay-on-death beneficiaries and is not part of the party’s estate.
  • Multiple-Party Account With Right of Survivorship and Pay-on-Death Designation – At death of last surviving party, ownership passes to the designated pay-on-death beneficiaries and is not part of the last surviving party’s estate.

BUSINESS, ORGANIZATION AND ASSOCIATION ACCOUNTS – Earnings in the form of interest, dividends, or credits will be paid only on collected funds, unless otherwise provided by law or our policy. You represent that you have the authority to open and conduct business on this account on behalf of the entity. We may require the governing body of the entity opening the account to give us a separate authorization telling us who is authorized to act on its behalf. We will honor the authorization until we actually receive written notice of a change from the governing body of the entity.

STOP PAYMENTS – The rules in this section cover stopping payment of items such as checks and drafts. Rules for stopping payment of other types of transfers of funds, such as consumer electronic fund transfers, may be established by law or our policy. If we have not disclosed these rules to you elsewhere, you may ask us about those rules.
We may accept an order to stop payment on any item from any one of you. You must make any stop-payment order in the manner required by law and we must receive it in time to give us a reasonable opportunity to act on it before our stop-payment cutoff time. Because stop-payment orders are handled by computers, to be effective, your stop-payment order must precisely identify the number, date, and amount of the item, and the payee. You may stop payment on any item drawn on your account whether you sign the item or not. Generally, if your stop-payment order is given to us in writing it is effective for six months. Your order will lapse after that time if you do not renew the order in writing before the end of the six-month period. If the original stop-payment order was oral your stop-payment order will lapse after 14 calendar days if you do not confirm your order in writing within that time period. We are not obligated to notify you when a stop-payment order expires.
If you stop payment on an item and we incur any damages or expenses because of the stop payment, you agree to indemnify us for those damages or expenses, including attorneys’ fees. You assign to us all rights against the payee or any other holder of the item. You agree to cooperate with us in any legal actions that we may take against such persons. You should be aware that anyone holding the item may be entitled to enforce payment against you despite the stop-payment order.

TELEPHONE TRANSFERS – A telephone transfer of funds from this account to another account with us, if otherwise arranged for or permitted, may be made by the same persons and under the same conditions generally applicable to withdrawals made in writing. Limitations on the number of telephonic transfers from a savings account, if any, are described elsewhere.

AMENDMENTS AND TERMINATION – We may change any term of this agreement. Rules governing changes in interest rates are provided separately in the Truth-in-Savings disclosure or in another document. For other changes, we will give you reasonable notice in writing or by any other method permitted by law. We may also close this account at any time upon reasonable notice to you and tender of the account balance personally or by mail. Items presented for payment after the account is closed may be dishonored. When you close your account, you are responsible for leaving enough money in the account to cover any outstanding items to be paid from the account. Reasonable notice depends on the circumstances, and in some cases such as when we cannot verify your identity or we suspect fraud, it might be reasonable for us to give you notice after the change or account closure becomes effective. For instance, if we suspect fraudulent activity with respect to your account, we might immediately freeze or close your account and then give you notice. If we have notified you of a change in any term of your account and you continue to have your account after the effective date of the change, you have agreed to the new term(s).

NOTICES – Any written notice you give us is effective when we actually receive it, and it must be given to us according to the specific delivery instructions provided elsewhere, if any. We must receive it in time to have a reasonable opportunity to act on it. If the notice is regarding a check or other item, you must give us sufficient information to be able to identify the check or item, including the precise check or item number, amount, date and payee. Written notice we give you is effective when it is deposited in the United States Mail with proper postage and addressed to your mailing address we have on file. Notice to any of you is notice to all of you.

STATEMENTS – Your duty to report unauthorized signatures, alterations and forgeries – You must examine your statement of account with “reasonable promptness.” If you discover (or reasonably should have discovered) any unauthorized signatures or alterations, you must promptly notify us of the relevant facts. As between you and us, if you fail to do either of these duties, you will have to either share the loss with us, or bear the loss entirely yourself (depending on whether we used ordinary care and, if not, whether we substantially contributed to the loss). The loss could be not only with respect to items on the statement but other items with unauthorized signatures or alterations by the same wrongdoer.
You agree that the time you have to examine your statement and report to us will depend on the circumstances, but will not, in any circumstance, exceed a total of 30 days from when the statement is first sent or made available to you.
You further agree that if you fail to report any unauthorized signatures, alterations or forgeries in your account within 60 days of when we first send or make the statement available, you cannot assert a claim against us on any items in that statement, and as between you and us the loss will be entirely yours. This 60-day limitation is without regard to whether we used ordinary care. The limitation in this paragraph is in addition to that contained in the first paragraph of this section.
Your duty to report other errors or problems – In addition to your duty to review your statements for unauthorized signatures, alterations and forgeries, you agree to examine your statement with reasonable promptness for any other error or problem – such as an encoding error or an unexpected deposit amount. Also, if you receive or we make available either your items or images of your items, you must examine them for any unauthorized or missing indorsements or any other problems. You agree that the time you have to examine your statement and items and report to us will depend on the circumstances. However, this time period shall not exceed 60 days. Failure to examine your statement and items and report any errors to us within 60 days of when we first send or make the statement available precludes you from asserting a claim against us for any errors on items identified in that statement and as between you and us the loss will be entirely yours.
Errors relating to electronic fund transfers or substitute checks – For information on errors relating to electronic fund transfers (e.g., on-line, mobile, debit card or ATM transactions) refer to your Electronic Fund Transfers disclosure and the sections on consumer liability and error resolution. For information on errors relating to a substitute check you received, refer to your disclosure entitled Substitute Checks and Your Rights.
Duty to notify if statement not received – You agree to immediately notify us if you do not receive your statement by the date you normally expect to receive it. Not receiving your statement in a timely manner is a sign that there may be an issue with your account, such as possible fraud or identity theft.

ACCOUNT TRANSFER – This account may not be transferred or assigned without our prior written consent.

DIRECT DEPOSITS – If we are required for any reason to reimburse the federal government for all or any portion of a benefit payment that was directly deposited into your account, you authorize us to deduct the amount of our liability to the federal government from the account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability.

TEMPORARY ACCOUNT AGREEMENT – If the account documentation indicates that this is a temporary account agreement, each person who signs to open the account or has authority to make withdrawals (except as indicated to the contrary) may transact business on this account. However, we may at some time in the future restrict or prohibit further use of this account if you fail to comply with the requirements we have imposed within a reasonable time.

SETOFF – We may (without prior notice and when permitted by law) set off the funds in this account against any due and payable debt any of you owe us now or in the future. If this account is owned by one or more of you as individuals, we may set off any funds in the account against a due and payable debt a partnership owes us now or in the future, to the extent of your liability as a partner for the partnership debt. If your debt arises from a promissory note, then the amount of the due and payable debt will be the full amount we have demanded, as entitled under the terms of the note, and this amount may include any portion of the balance for which we have properly accelerated the due date. This right of setoff does not apply to this account if prohibited by law. For example, the right of setoff does not apply to this account if: (a) it is an Individual Retirement Account or similar tax-deferred account, or (b) the debt is created by a consumer credit transaction under a credit card plan (but this does not affect our rights under any consensual security interest), or (c) the debtor’s right of withdrawal only arises in a representative capacity. We will not be liable for the dishonor of any check when the dishonor occurs because we set off a debt against this account. You agree to hold us harmless from any claim arising as a result of our exercise of our right of setoff.

AGENCY (Power of Attorney) DESIGNATION (Single-Party Accounts only) – A single individual is the owner. The agent is merely designated to conduct transactions on the owner’s behalf. The owner does not give up any rights to act on the account, and the agent may not in any manner affect the rights of the owner or beneficiaries, if any, other than by withdrawing funds from the account. The owner is responsible for any transactions of the agent. We undertake no obligation to monitor transactions to determine that they are on the owner’s behalf.
The owner may terminate the agency at any time, and the agency is automatically terminated by the death of the owner. However, we may continue to honor the transactions of the agent until: (a) we have received written notice or have actual knowledge of the termination of the agency, and (b) we have a reasonable opportunity to act on that notice or knowledge. We may refuse to accept the designation of an agent.

RESTRICTIVE LEGENDS OR INDORSEMENTS – The automated processing of the large volume of checks we receive prevents us from inspecting or looking for restrictive legends, restrictive indorsements or other special instructions on every check. For this reason, we are not required to honor any restrictive legend or indorsement or other special instruction placed on checks you write unless we have agreed in writing to the restriction or instruction. Unless we have agreed in writing, we are not responsible for any losses, claims, damages, or expenses that result from your placement of these restrictions or instructions on your checks. Examples of restrictive legends placed on checks are “must be presented within 90 days” or “not valid for more than $1,000.00.” The payee’s signature accompanied by the words “for deposit only” is an example of a restrictive indorsement.

FACSIMILE SIGNATURES – Unless you make advance arrangements with us, we have no obligation to honor facsimile signatures on your checks or other orders. If we do agree to honor items containing facsimile signatures, you authorize us, at any time, to charge you for all checks, drafts, or other orders, for the payment of money, that are drawn on us. You give us this authority regardless of by whom or by what means the facsimile signature(s) may have been affixed so long as they resemble the facsimile signature specimen filed with us, and contain the required number of signatures for this purpose. You must notify us at once if you suspect that your facsimile signature is being or has been misused.

CHECK PROCESSING – We process items mechanically by relying solely on the information encoded in magnetic ink along the bottom of the items. This means that we do not individually examine all of your items to determine if the item is properly completed, signed and indorsed or to determine if it contains any information other than what is encoded in magnetic ink. You agree that we have exercised ordinary care if our automated processing is consistent with general banking practice, even though we do not inspect each item. Because we do not inspect each item, if you write a check to multiple payees, we can properly pay the check regardless of the number of indorsements unless you notify us in writing that the check requires multiple indorsements. We must receive the notice in time for us to have a reasonable opportunity to act on it, and you must tell us the precise date of the check, amount, check number and payee. We are not responsible for any unauthorized signature or alteration that would not be identified by a reasonable inspection of the item. Using an automated process helps us keep costs down for you and all account holders.

CHECK CASHING – We may charge a fee for anyone that does not have an account with us who is cashing a check, draft or other instrument written on your account. We may also require reasonable identification to cash such a check, draft or other instrument. We can decide what identification is reasonable under the circumstances and such identification may be documentary or physical and may include collecting a thumbprint or fingerprint.

INDORSEMENTS – We may accept for deposit any item payable to you or your order, even if they are not indorsed by you. We may give cash back to any one of you. We may supply any missing indorsement(s) for any item we accept for deposit or collection, and you warrant that all indorsements are genuine.To ensure that your check or share draft is processed without delay, you must indorse it (sign it on the back) in a specific area. Your entire indorsement (whether a signature or a stamp) along with any other indorsement information (e.g. additional indorsements, ID information, driver’s license number, etc.) must fall within 11/2” of the “trailing edge” of a check. Indorsements must be made in blue or black ink, so that they are readable by automated check processing equipment. As you look at the front of a check, the “trailing edge” is the left edge. When you flip the check over, be sure to keep all indorsement information within 11/2” of that edge.

Example of a check showing the front and back side and where your endorsement must be within the top area on the back of the check.

It is important that you confine the indorsement information to this area since the remaining blank space will be used by others in the processing of the check to place additional needed indorsements and information. You agree that you will indemnify, defend, and hold us harmless for any loss, liability, damage or expense that occurs because your indorsement, another indorsement or information you have printed on the back of the check obscures our indorsement.
These indorsement guidelines apply to both personal and business checks.

DEATH OR INCOMPETENCE – You agree to notify us promptly if any person with a right to withdraw funds from your account(s) dies or is adjudicated (determined by the appropriate official) incompetent. We may continue to honor your checks, items, and instructions until: (a) we know of your death or adjudication of incompetence, and (b) we have had a reasonable opportunity to act on that knowledge. You agree that we may pay or certify checks drawn on or before the date of death or adjudication of incompetence for up to ten (10) days after your death or adjudication of incompetence unless ordered to stop payment by someone claiming an interest in the account.

FIDUCIARY ACCOUNTS – Accounts may be opened by a person acting in a fiduciary capacity. A fiduciary is someone who is appointed to act on behalf of and for the benefit of another. We are not responsible for the actions of a fiduciary, including the misuse of funds. This account may be opened and maintained by a person or persons named as a trustee under a written trust agreement, or as executors, administrators, or conservators under court orders. You understand that by merely opening such an account, we are not acting in the capacity of a trustee in connection with the trust nor do we undertake any obligation to monitor or enforce the terms of the trust or letters.

CREDIT VERIFICATION – You agree that we may verify credit and employment history by any necessary means, including preparation of a credit report by a credit reporting agency.

LEGAL ACTIONS AFFECTING YOUR ACCOUNT – If we are served with a subpoena, restraining order, writ of attachment or execution, levy, garnishment, search warrant, or similar order relating to your account (termed “legal action” in this section), we will comply with that legal action. Or, in our discretion, we may freeze the assets in the account and not allow any payments out of the account until a final court determination regarding the legal action. We may do these things even if the legal action involves less than all of you. In these cases, we will not have any liability to you if there are insufficient funds to pay your items because we have withdrawn funds from your account or in any way restricted access to your funds in accordance with the legal action. Any fees or expenses we incur in responding to any legal action (including, without limitation, attorneys’ fees and our internal expenses) may be charged against your account. The list of fees applicable to your account(s) provided elsewhere may specify additional fees that we may charge for certain legal actions.

ACCOUNT SECURITY – Duty to protect account information and methods of access – It is your responsibility to protect the account numbers and electronic access devices (e.g., an ATM card) we provide you for your account(s). Do not discuss, compare, or share information about your account number(s) with anyone unless you are willing to give them full use of your money. An account number can be used by thieves to issue an electronic debit or to encode your number on a false demand draft which looks like and functions like an authorized check. If you furnish your access device and grant actual authority to make transfers to another person (a family member or coworker, for example) who then exceeds that authority, you are liable for the transfers unless we have been notified that transfers by that person are no longer authorized.
Your account number can also be used to electronically remove money from your account, and payment can be made from your account even though you did not contact us directly and order the payment.
You must also take precaution in safeguarding your blank checks. Notify us at once if you believe your checks have been lost or stolen. As between you and us, if you are negligent in safeguarding your checks, you must bear the loss entirely yourself or share the loss with us (we may have to share some of the loss if we failed to use ordinary care and if we substantially contributed to the loss).
Positive pay and other fraud prevention services – Except for consumer electronic fund transfers subject to Regulation E, you agree that if we offer you services appropriate for your account to help identify and limit fraud or other unauthorized transactions against your account, and you reject those services, you will be responsible for any fraudulent or unauthorized transactions which could have been prevented by the services we offered. You will not be responsible for such transactions if we acted in bad faith or to the extent our negligence contributed to the loss. Such services include positive pay or commercially reasonable security procedures. If we offered you a commercially reasonable security procedure which you reject, you agree that you are responsible for any payment order, whether authorized or not, that we accept in compliance with an alternative security procedure that you have selected. The positive pay service can help detect and prevent check fraud and is appropriate for account holders that issue: a high volume of checks, a lot of checks to the general public, or checks for large dollar amounts.

TELEPHONIC INSTRUCTIONS – Unless required by law or we have agreed otherwise in writing, we are not required to act upon instructions you give us via facsimile transmission or leave by voice mail or on a telephone answering machine.

MONITORING AND RECORDING TELEPHONE CALLS AND CONSENT TO RECEIVE COMMUNICATIONS – Monitoring and Recording Telephone Calls and Consent to Receive Communications – Subject to federal and state law, we may monitor or record phone calls for security reasons, to maintain a record and to ensure that you receive courteous and efficient service. You consent in advance to any such recording.
To provide you with the best possible service in our ongoing business relationship for your account we may need to contact you about your account from time to time by telephone, text messaging or email. However, we first obtain your consent to contact you about your account in compliance with applicable consumer protection provisions in the federal Telephone Consumer Protection Act of 1991 (TCPA), CAN-SPAM Act and their related federal regulations and orders issued by the Federal Communications Commission (FCC).

  • Your consent is limited to your account, and as authorized by applicable law and regulations.
  • Your consent is voluntary and not conditioned on the purchase of any product or service from us.

With the above understandings, you authorize us to contact you regarding your account throughout its existence using any telephone numbers or email addresses that you have previously provided to us by virtue of an existing business relationship or that you may subsequently provide to us.
This consent is regardless of whether the number we use to contact you is assigned to a landline, a paging service, a cellular wireless service, a specialized mobile radio service, other radio common carrier service or any other service for which you may be charged for the call. You further authorize us to contact you through the use of voice, voice mail and text messaging, including the use of pre-recorded or artificial voice messages and an automated dialing device.
If necessary, you may change or remove any of the telephone numbers or email addresses at any time using any reasonable means to notify us.

CLAIM OF LOSS – The following rules do not apply to a transaction or claim related to a consumer electronic fund transfer governed by Regulation E (e.g., an everyday consumer debit card or ATM transaction). The error resolution procedures for consumer electronic fund transfers can be found in our initial Regulation E disclosure titled, “Electronic Fund Transfers.” For other transactions or claims, if you claim a credit or refund because of a forgery, alteration, or any other unauthorized withdrawal, you agree to cooperate with us in the investigation of the loss, including giving us an affidavit containing whatever reasonable information we require concerning your account, the transaction, and the circumstances surrounding the loss. You will notify law enforcement authorities of any criminal act related to the claim of lost, missing, or stolen checks or unauthorized withdrawals. We will have a reasonable period of time to investigate the facts and circumstances surrounding any claim of loss. Unless we have acted in bad faith, we will not be liable for special or consequential damages, including loss of profits or opportunity, or for attorneys’ fees incurred by you.
You agree that you will not waive any rights you have to recover your loss against anyone who is obligated to repay, insure, or otherwise reimburse you for your loss. You will pursue your rights or, at our option, assign them to us so that we may pursue them. Our liability will be reduced by the amount you recover or are entitled to recover from these other sources.

EARLY WITHDRAWAL PENALTIES (and involuntary withdrawals) – We may impose early withdrawal penalties on a withdrawal from a time account even if you don’t initiate the withdrawal. For instance, the early withdrawal penalty may be imposed if the withdrawal is caused by our setoff against funds in the account or as a result of an attachment or other legal process. We may close your account and impose the early withdrawal penalty on the entire account balance in the event of a partial early withdrawal. See your notice of penalty for early withdrawals for additional information.

ADDRESS OR NAME CHANGES – You are responsible for notifying us of any change in your address or your name. Unless we agree otherwise, change of address or name must be made in writing by at least one of the account holders. Informing us of your address or name change on a check reorder form is not sufficient. We will attempt to communicate with you only by use of the most recent address you have provided to us. If provided elsewhere, we may impose a service fee if we attempt to locate you.

RESOLVING ACCOUNT DISPUTES – We may place an administrative hold on the funds in your account (refuse payment or withdrawal of the funds) if it becomes subject to a claim adverse to (1) your own interest; (2) others claiming an interest as survivors or beneficiaries of your account; or (3) a claim arising by operation of law. The hold may be placed for such period of time as we believe reasonably necessary to allow a legal proceeding to determine the merits of the claim or until we receive evidence satisfactory to us that the dispute has been resolved. We will not be liable for any items that are dishonored as a consequence of placing a hold on funds in your account for these reasons.

WAIVER OF NOTICES – To the extent permitted by law, you waive any notice of non-payment, dishonor or protest regarding any items credited to or charged against your account. For example, if you deposit an item and it is returned unpaid or we receive a notice of nonpayment, we do not have to notify you unless required by federal Regulation CC or other law.

ACH AND WIRE TRANSFERS – This agreement is subject to Article 4A of the Uniform Commercial Code – Fund Transfers as adopted in the state in which you have your account with us. If you originate a fund transfer and you identify by name and number a beneficiary financial institution, an intermediary financial institution or a beneficiary, we and every receiving or beneficiary financial institution may rely on the identifying number to make payment. We may rely on the number even if it identifies a financial institution, person or account other than the one named. You agree to be bound by automated clearing house association rules. These rules provide, among other things, that payments made to you, or originated by you, are provisional until final settlement is made through a Federal Reserve Bank or payment is otherwise made as provided in Article 4A-403(a) of the Uniform Commercial Code. If we do not receive such payment, we are entitled to a refund from you in the amount credited to your account and the party originating such payment will not be considered to have paid the amount so credited. Credit entries may be made by ACH. If we receive a payment order to credit an account you have with us by wire or ACH, we are not required to give you any notice of the payment order or credit.

If your account is a checking account, it is a master deposit account which will consist of two subaccounts: a transaction account and a nontransaction account. The maintenance of the two subaccounts and the transfer between them as described below is for the purpose of improving our efficiency and will have no effect on your account or your ability to use it. The amount of interest you earn (if your account is interest bearing), the amount of charges you incur (if any), and your monthly checking statement will not be affected. We will maintain separate information on each subaccount for regulatory purposes, but information reported to you will be consolidated.
At the beginning of each month we will allocate the balance in your account between the two subaccounts based on an allocation formula which we may change from time to time. All checks, withdrawals, debits and other charges against your account will be presented against the funds in your transaction account. If additional funds are needed to cover your transactions, we will automatically transfer, without charge, available funds in your nontransaction subaccount to your transaction account. If excess funds accumulate in the transaction account, we may automatically transfer funds to the nontransaction subaccount. Federal regulations limit preauthorized transfers from your nontransaction account to six during a monthly statement period. Upon the sixth transfer from the nontransaction account to the transaction account during a monthly statement period, the entire balance in the nontransaction account will be transferred to the transaction subaccount for the remainder of the statement period. At all times, the combined collected balance in the two subaccounts will be available to pay items presented for payment.

NOTICE OF NEGATIVE INFORMATION
Federal law requires us to provide the following notice to customers before any “negative information” may be furnished to a nationwide consumer reporting agency. “Negative information” includes information concerning delinquencies, overdrafts or any form of default. This notice does not mean that we will be reporting such information about you, only that we may report such information about customers that have not done what they are required to do under our agreement.
After providing this notice, additional negative information may be submitted without providing another notice.
We may report information about your account to credit bureaus. Late payments, missed payments or other defaults on your account may be reflected in your credit report.

ELECTRONIC FUND TRANSFERS – YOUR RIGHTS AND RESPONSIBILITIES
Indicated below are types of Electronic Fund Transfers we are capable of handling, some of which may not apply to your account. Please read this disclosure carefully because it tells you your rights and obligations for the transactions listed. You should keep this notice for future reference.
Electronic Fund Transfers Initiated By Third Parties. You may authorize a third party to initiate electronic fund transfers between your account and the third party’s account. These transfers to make or receive payment may be one-time occurrences or may recur as directed by you. These transfers may use the Automated Clearing House (ACH) or other payments network. Your authorization to the third party to make these transfers can occur in a number of ways. For example, your authorization to convert a check to an electronic fund transfer or to electronically pay a returned check charge can occur when a merchant provides you with notice and you go forward with the transaction (typically, at the point of purchase, a merchant will post a sign and print the notice on a receipt). In all cases, these third party transfers will require you to provide the third party with your account number and bank information. This information can be found on your check as well as on a deposit or withdrawal slip. Thus, you should only provide your bank and account information (whether over the phone, the Internet, or via some other method) to trusted third parties whom you have authorized to initiate these electronic fund transfers. Examples of these transfers include, but are not limited to:

  • Preauthorized credits. You may make arrangements for certain direct deposits to be accepted into your checking or savings account(s).
  • Preauthorized payments. You may make arrangements to pay certain recurring bills from your checking or savings account(s).
  • Electronic check conversion. You may authorize a merchant or other payee to make a one-time electronic payment from your checking account using information from your check to pay for purchases or pay bills.
  • Electronic returned check charge. You may authorize a merchant or other payee to initiate an electronic funds transfer to collect a charge in the event a check is returned for insufficient funds.

Person to Person Telephone Transfers – types of transfers, dollar limitations, and charges – You may access your account by telephone using your account numbers, your social security number, and date and amount of last deposit, to:

  • transfer funds from checking to checking
  • transfer funds from checking to savings
  • transfer funds from savings to checking
  • transfer funds from savings to savings
  • transfer funds from line of credit to checking
    • you may transfer a minimum of $250.00
    • there is a charge of $25.00 if transfer is less than $250.00
  • transfer funds from line of credit to savings
    • you may transfer a minimum of $250.00
    • there is a charge of $25.00 if transfer is less than $250.00
  • make payments from checking to loan accounts with us
  • make payments from savings to loan accounts with us
  • get information about:
    • account balance of checking accounts
    • account balance of savings accounts

TOUCHTONE BANKING TELEPHONE TRANSFERS – types of transfers – You may access your account by telephone by calling (575) 234-2525, 24 hours a day, seven days a week, using your personal identification number, a touch tone phone, your account numbers, and your social security number, to:

  • transfer funds from checking to checking
  • transfer funds from checking to savings
  • transfer funds from savings to checking
  • transfer funds from savings to savings
  • make payments from checking to loan accounts with us
  • make payments from savings to loan accounts with us
  • get information about:
    • account balances (including CDs, IRAs, and loan accounts with us)
    • interest rates, maturity dates, and payments

ATM Transfers – NYCE and Pulse® Networks – types of transfers, frequency and dollar limitations, and charges – You may access your account(s) by using your ATM card and personal identification number or VISA® DebitCard and personal identification number, to:

  • make deposits to checking account(s)
  • make deposits to savings account(s)
  • get cash withdrawals from checking or savings account(s)
    • you may make no more than three withdrawals per day
    • you may withdraw no more than $500.00 per day
    • there is a charge of $2.00 at ATMs we do not own or operate
  • transfer funds from savings to checking account(s)
    • you may make no more than three transfers per day
  • transfer funds from checking to savings account(s)
    • you may make no more than three transfers per day
  • get information about:
    • the account balance of your checking account(s)
    • the account balance of your savings account(s)

Some of these services may not be available at all terminals.
Types of ATM Card Point-of-Sale Transactions – You may access your checking account(s) to purchase goods (in person) and pay for services (in person).
Point-of-Sale Transactions – dollar limitations – Using your card:

  • you may not exceed $2,500.00 in transactions per day unless pre-authorized by CNB Bank

Types of VISA® DebitCard Point-of-Sale Transactions – You may access your checking account(s) to purchase goods (in person or by phone), pay for services (in person or by phone), get cash from a merchant, if the merchant permits, or from a participating financial institution, and do anything that a participating merchant will accept.
Point-of-Sale Transactions – dollar limitations – Using your card:

  • you may not exceed $2,500.00 in transactions per day unless pre-authorized by CNB Bank

Currency Conversion and International Transactions.
(a) For point-of-sale (merchant) transactions. When you use your VISA® DebitCard for this type of transaction and it settles in a currency other than US Dollars, the charge will be converted into the US Dollar amount. The currency conversion rate used to determine the transaction amount in US Dollars is either a rate selected by Visa from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate Visa itself receives, or the government-mandated rate in effect for the applicable central processing date. The conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or posting date.
Visa USA charges us a 1% International Service Assessment on all international transactions regardless of whether there is a currency conversion. As a result, we will charge you a 1% international transaction fee on all international transactions. An international transaction is a transaction where the issuer of the card used is not located in the transaction country. This means an international transaction can occur even though the transaction is made when you are not in a foreign country. For example, a transaction made online with a foreign merchant is an international transaction even though made while you are physically in the United States.
(b) For ATM transactions. When you use your VISA® DebitCard for this type of transaction and it settles in a currency other than US Dollars, Mastercard/Cirrus will convert the charge into a US Dollar amount. The Mastercard/Cirrus currency conversion procedure is based on rates observed in the wholesale market or, where applicable, on government-mandated rates. The currency conversion rate Mastercard/Cirrus generally uses is the rate for the applicable currency that is in effect on the day the transaction occurred. However, in limited situations, particularly where Mastercard/Cirrus transaction processing is being delayed, Mastercard/Cirrus may instead use the rate for the applicable currency in effect on the day the transaction is processed.
Mastercard/Cirrus charges us a Currency Conversion Assessment of 20 basis points (.2% of the transaction) for performing the currency conversion. In addition, Mastercard/Cirrus charges us an Issuer Cross-Border Assessment of 90 basis points (.9% of the transaction) on all cross-border transactions regardless of whether there is a currency conversion. As a result, we will charge you a currency conversion fee of .2% of the transaction if there is a currency conversion and a cross-border transaction fee of .9% of the transaction. The cross-border transaction fee is charged on all cross-border transactions regardless of whether there is a currency conversion. A cross-border transaction is a transaction that occurs at a card acceptance location in a different country from the country in which the card was issued. This means a cross-border transaction can occur even though the transaction is made when you are not in a foreign country. For example, a transaction made online with a foreign merchant is a cross-border transaction even though made while you are physically in the United States.
Advisory Against Illegal Use. You agree not to use your card(s) for illegal gambling or other illegal purpose. Display of a payment card logo by, for example, an online merchant does not necessarily mean that transactions are lawful in all jurisdictions in which the cardholder may be located.

INTERNET BANKING COMPUTER TRANSFERS – types of transfers and charges – You may access your account(s) by computer or mobile device at www.ourcnb.bank and using your user name and password, to:

  • transfer funds from checking to checking
  • transfer funds from checking to savings
  • transfer funds from savings to checking
  • transfer funds from savings to savings
  • transfer funds from line of credit to checking
  • transfer funds from line of credit to savings
  • make payments from checking to loan accounts with us
  • make payments from checking to third parties with Bill Pay
  • transfer funds from checking to another financial institution
  • transfer funds from savings to another financial institution
    • you may not transfer more than $2,500.00 per day, to another financial institution, unless pre-authorized by CNB Bank
  • get information about:
    • the account balance of checking accounts
    • the last 18 months deposits to checking accounts, based on account opening
    • the last 18 months withdrawals from checking accounts, based on account opening
    • the account balance of savings accounts
    • the last 18 months deposits to savings accounts, based on account opening
    • the last 18 months withdrawals from savings accounts, based on account opening

FEES

  • We do not charge for direct deposits to any type of account.
  • We charge for preauthorized withdrawals. Please refer to your account disclosure.

Except as indicated elsewhere, we do not charge for these electronic fund transfers.
ATM Operator/Network Fees. When you use an ATM not owned by us, you may be charged a fee by the ATM operator or any network used (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer).

DOCUMENTATION

  • Terminal transfers. You can get a receipt at the time you make a transfer to or from your account using an automated teller machine or point-of-sale terminal. However, you may not get a receipt if the amount of the transfer is $15 or less.
  • Preauthorized credits. If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call us at (575) 234-2500 to find out whether or not the deposit has been made.
  • Periodic statements.

You will get a monthly account statement from us for your checking accounts.
You will get a monthly account statement from us for your savings accounts, unless there are no transfers in a particular month. In any case, you will get a statement at least quarterly.

PREAUTHORIZED PAYMENTS

Right to stop payment and procedure for doing so. If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here is how:
Call or write us at the telephone number or address listed in this disclosure in time for us to receive your request 3 business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call.

We will charge you $25.00 for each stop-payment order you give.

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

Liability for failure to stop payment of preauthorized transfer. If you order us to stop one of these payments 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

FINACIAL INSTITUTION’S LIABILITY – 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:

(1) If, through no fault of ours, you do not have enough money in your account to make the transfer.
(2) If you have an overdraft line and the transfer would go over the credit limit.
(3) If the automated teller machine where you are making the transfer does not have enough cash.
(4) If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.
(5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
(6) There may be other exceptions stated in our agreement with you.

CONFIDENTIALITY – We will disclose information to third parties about your account or the transfers you make:

(1) where it is necessary for completing transfers; or
(2) in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; or
(3) in order to comply with government agency or court orders; or
(4) as explained in the separate Privacy Disclosure.

UNAUTHORIZED TRANSFERS

(a) Consumer liability.

  • Generally. Tell us AT ONCE if you believe your card and/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 your card and/or code, you can lose no more than $50 if someone used your card and/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 card and/or code, and we can prove we could have stopped someone from using your card and/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 periods.
  • Additional Limit on Liability for VISA® DebitCard. Unless you have been negligent or have engaged in fraud, you will not be liable for any unauthorized transactions using your lost or stolen VISA® DebitCard. This additional limit on liability does not apply to ATM transactions outside of the U.S., to ATM transactions not sent over Visa or Plus networks, or to transactions using your Personal Identification Number which are not processed by VISA®. Visa is a registered trademark of Visa International Service Association.
    (b) Contact in event of unauthorized transfer.
  • If you believe your card and/or code has been lost or stolen, call or write us at the telephone number or address listed in this disclosure. You should also call the number or write to the address listed in this disclosure if you believe a transfer has been made using the information from your check without your permission.

ERROR RESOLUTION NOTICE – In Case of Errors or Questions About Your Electronic Transfers, Call or Write us at the telephone number or address listed in this disclosure, as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.

(1) Tell us your name and account number (if any).
(2) Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.
(3) Tell us the dollar amount of the suspected error.
If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.

We will determine whether an error occurred within 10 business days (5 business days for VISA DebitCard point-of-sale transactions processed by Visa and 20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a new account, a point-of-sale transaction, or a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (5 business days for VISA DebitCard point-of-sale transactions processed by Visa and 20 business days if the transfer involved a new account) 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. Your account is considered a new account for the first 30 days after the first deposit is made, unless each of you already has an established account with us before this account is opened. 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.

CNB BANK
ELECTRONIC FUNDS DEPARTMENT
P.O. BOX 1359
CARLSBAD, NEW MEXICO 88221
Business Days: Monday through Friday
Excluding Federal Holidays
Phone: (575) 234-2500

MORE DETAILED INFORMATION IS AVAILABLE ON REQUEST

YOUR ABILITY TO WITHDRAW FUNDS – This policy statement applies to all deposit accounts.
Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once the funds are available, you can withdraw them in cash and we will use the funds to pay checks that you have written.
Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving 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 3:00 P.M. 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 3:00 P.M. or on a day we are not open, we will consider that the deposit was made on the next business day we are open.
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.

LONGER DELAYS MAY APPLY
Case-by-case delays. 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 second business day after the day of your deposit. The first $225 of your deposits, however, will be available on the first business day.
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.
Safeguard exceptions. In addition, 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 $5,525 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 business day after the day of your deposit.

SPECIAL RULES FOR NEW ACCOUNTS – If you are a new customer, the following special rules will apply during the first 30 days your account is open. Funds from electronic direct deposits to 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 first business day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you (and you may have to use a special deposit slip). The excess over $5,525 will be available on the ninth 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 ninth business day after the day of your deposit.

SUBSTITUTE CHECKS AND YOUR RIGHTS –
As our customer we think it’s important for you to know about substitute checks. The following Substitute Check Disclosure provides information about substitute checks and your rights. So you will recognize substitute checks when you receive them, we have included a copy of the front side of a substitute check along with an explanation of the substitute check’s components.
What is a substitute check?
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. The front of a substitute check states: “This is a legal copy of your check. You can use it the same way you would use the original check.” You may use a substitute check as proof of payment just like the original check.
Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions.
What are my rights regarding substitute checks?
In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees).
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 your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law.
If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 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:

CNB Bank
202 West Stevens
P.O. Box 1359
Carlsbad, New Mexico 88221
575-234-2500

You must contact us within 60 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 or the following information to help us identify the substitute check: the check number, the amount of the check, the date of the check, and the name of the person to whom you wrote the check.

SUBSTITUTE CHECK IMAGE

Below is an image of a sample substitute check. The numbers listed below the image correspond with the numbers on or near the substitute check image and the corresponding text explains the various components of a substitute check.

Substitute check with six markers indicating what they are and explaining each number below

These numbers correspond with the numbers on the Substitute Check Image:

  1. An image of the original check appears in the upper right-hand corner of the substitute check.
  2. A substitute check is the same size as a standard business check.
  3. The information in asterisks relates to the “reconverting bank”—the financial institution that created the substitute check.
  4. The information in brackets (appears sideways facing check image) relates to the “truncating bank”—the financial institution that took the original check out of the check processing system.
  5. The Legal Legend states: This is a LEGAL COPY of your check. You can use it the same way you would use the original check.
  6. The MICR lines at the bottom of the image of the original and at the bottom of the substitute check are the same except for the “4” at the beginning of the MICR line on the substitute check, which indicates that it is a substitute check being moved forward for collection purposes. It is also possible for the MICR line on the substitute check to begin with a “5” if the item is being returned. The rest of the MICR line is the same as the original check to ensure that it is processed as though it were the original.

TRUTH-IN-SAVINGS DISCLOSURE -Your account is a master deposit account which consists of two subaccounts: a transaction account and a nontransaction account. We will make internal transfers between these two subaccounts however that will have no effect on your account or your ability to use it. See your account agreement for additional information.

CONVENIENCE CHECKING ACCOUNT
Minimum balance to open the account – You must deposit $100.00 to open this account.
Minimum balance to avoid imposition of fees – If your balance falls below $200.00 on any day in the statement cycle we will impose a maintenance fee of $5.00 once during the statement cycle.
Check limitations: 10 free checks per statement cycle there after each additional check will be $0.40 each.
Fees:
We will charge you an early account closure fee of $25.00 if the account is closed within 90 days of opening.

PREMIER CHECKING ACCOUNT
Minimum balance to open the account – You must deposit $100.00 to open this account.
Minimum balance to avoid imposition of fees – If your balance falls below $900.00 on any day in the monthly statement cycle we will impose a maintenance fee of $9.00 once during the statement cycle.
Fees:
The maximum fee that will be charged to this account is $9.00.
We will charge you an early account closure fee of $25.00 if the account is closed within 90 days of opening.

SENIOR CHECKING ACCOUNT
(For persons over age 60)
Minimum balance to open the account – You must deposit $100.00 to open this account.
Fees:
We will charge you an early account closure fee of $25.00 if the account is closed within 90 days of opening.

SENIOR PLUS CHECKING ACCOUNT
(To open this account you must also have the
Senior Plus Savings account and be age 60 or better)
Rate Information – Your interest rate and annual percentage yield may change. Frequency of rate changes – We may change the interest rate on your account at any time.
Determination of rate – At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency – Interest will be compounded every month. Interest will be credited to your account every month.
Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account – You must deposit $1,000.00 to open this account.
Minimum balance to obtain the annual percentage yield disclosed – You must maintain a minimum balance of $1,000.00 in the account each day to obtain the disclosed annual percentage yield.
Minimum balance to avoid imposition of fees – A maintenance fee of $10.00 will be imposed every month if the balance in the account falls below $1,000.00 any day of the month.
Daily 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.
Accrual of interest on noncash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

E – ACCOUNT
Minimum balance to open the account – You must deposit $100.00 to open this account.

  • No monthly maintenance fee
  • Free Visa Debit Card
  • Electronic withdrawals only
  • Free online Banking, Bill Payment and In-network ATM Transactions

Fees:
We will charge you an early account closure fee of $25.00 if the account is closed within 90 days of opening.

SENIOR PLUS SAVINGS ACCOUNT
(To open this account you must also have the
Senior Plus Checking account and be age 60 or better)
Rate Information – Your interest rate and annual percentage yield may change. Frequency of rate changes – We may change the interest rate on your account at any time.
Determination of rate – At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency – Interest will be compounded every quarter. Interest will be credited to your account every quarter.
Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account – You must deposit $5,000.00 to open this account.
Minimum balance to avoid imposition of fees – A maintenance fee of $5.00 will be imposed every month if the balance in the account falls below $5,000.00 any day of the month.
Daily 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.
Accrual of interest on noncash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
Transaction limitations:
Transfers from a Senior Plus Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle.

Fees:
An excess withdrawal fee of $3.00 will be charged for each withdrawal other than ATM withdrawals in excess of two during a monthly cycle.
We will charge you an early account closure fee of $25.00 if the account is closed within 90 days of opening.

INTEREST CHECKING ACCOUNT
Rate Information – Your interest rate and annual percentage yield may change. Frequency of rate changes – We may change the interest rate on your account at any time.
Determination of rate – At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency – Interest will be compounded every month. Interest will be credited to your account every month.
Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account – You must deposit $100.00 to open this account.
Minimum balance to avoid imposition of fees – If your balance falls below $1,500.00 on any day in the monthly statement cycle we will impose a maintenance fee of $12.00 once during the statement cycle.
Minimum balance to obtain the annual percentage yield disclosed – You must maintain a minimum balance over $1,000.00 in the account each day to obtain the disclosed annual percentage yield.
Daily 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.
Accrual of interest on noncash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
Fees: We will charge you an early account closure fee of $25.00 if the account is closed within 90 days of opening.

MONEY MANAGEMENT ACCOUNT
Rate Information – Your interest rate and annual percentage yield may change. Frequency of rate changes – We may change the interest rate on your account at any time.
Determination of rate – At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency – Interest will be compounded every month. Interest will be credited to your account every month.
Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account – You must deposit $100.00 to open this account.
Minimum balance to avoid imposition of fees – A maintenance fee of $14.00 will be imposed every statement cycle if the balance in the account falls below $2,500.00 any day of the cycle.
Minimum balance to obtain the annual percentage yield disclosed – You must maintain a minimum balance over $1,000.00 in the account each day to obtain the disclosed annual percentage yield.
Daily 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.
Accrual of interest on noncash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
Transaction limitations:
Transfers from a Money Management account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or by debit card or similar order to third parties are limited to six per statement cycle.
Fees:
A transaction fee of $10.00 will be charged for each check or draft in excess of six during a statement cycle.
We will charge you an early account closure fee of $25.00 if the account is closed within 90 days of opening.

SAVINGS ACCOUNT
Rate Information – Your interest rate and annual percentage yield may change. Frequency of rate changes – We may change the interest rate on your account at any time.
Determination of rate – At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency – Interest will be compounded every quarter. Interest will be credited to your account every quarter.
Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account – You must deposit $100.00 to open this account.
Minimum balance to avoid imposition of fees – A maintenance fee of $3.00 will be imposed every month if the balance in the account falls below $200.00 any day of the month.
Daily 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.
Accrual of interest on noncash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
Transaction limitations:
Transfers from a Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle.
Fees:
An excess withdrawal fee of $3.00 will be charged for each withdrawal other than ATM withdrawals in excess of two during a month.
We will charge you an early account closure fee of $25.00 if the account is closed within 90 days of opening.

HIGH FIVE SAVINGS ACCOUNT
Rate Information – Your interest rate and annual percentage yield may change. Frequency of rate changes – We may change the interest rate on your account at any time.
Determination of rate – At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency – Interest will be compounded every quarter. Interest will be credited to your account every quarter.
Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account – You must deposit $5,000.00 to open this account.
Minimum balance to avoid imposition of fees – A maintenance fee of $10.00 will be imposed every month if the balance in the account falls below $5,000.00 any day of the month.
Daily 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.
Accrual of interest on noncash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
Transaction limitations:
Transfers from a High Five Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle.
Fees:
A teller withdrawal fee of $5.00 will be charged for each teller withdrawal in excess of two during a month.
We will charge you an early account closure fee of $25.00 if the account is closed within 90 days of opening.

YOUTH SAVINGS ACCOUNT
(For age 18 and under)
Rate Information – Your interest rate and annual percentage yield may change. Frequency of rate changes – We may change the interest rate on your account at any time.
Determination of rate – At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency – Interest will be compounded every quarter. Interest will be credited to your account every quarter.
Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account – You must deposit $25.00 to open this account.
Minimum balance to avoid imposition of fees – A maintenance fee of $3.00 will be imposed every month if the balance in the account falls below $25.00 any day of the month.
Daily 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.
Accrual of interest on noncash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
Transaction limitations:
Transfers from a Youth Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle.
Fees: A withdrawal fee of $3.00 will be charged for each withdrawal in excess of two during a month.
We will charge you an early account closure fee of $25.00 if the account is closed within 90 days of opening.

CERTIFICATE OF DEPOSIT
Rate Information (fixed rate account) – The interest rate on your account is —————% with an annual percentage yield of —————%. You will be paid this rate until first maturity.
Rate Information (variable rate account) – The interest rate on your account is —————% with an annual percentage yield of —————%. Your interest rate and annual percentage yield may change. Frequency of rate changes – We may change the interest rate on your account and it will be subject to change on the first business day of each month. Determination of rate – At our discretion, we may change the interest rate on your account.

Compounding frequency – Interest will be compounded every ————————
——————————————————————————————————————— .
Crediting frequency – Interest will be credited to your account every —————
——————————————————————————————————————— .
Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account – You must deposit $————————— to open this account.
Daily 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.
Accrual of interest on noncash deposits – Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Transaction limitations:
The minimum amount you can deposit is $500.00.
You may make withdrawals of principal from your account before maturity.
You can only withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest any time during the term of crediting after it is credited to your account.
Time requirements – Your account will mature ————————————————
——————————————————————————————————————— .
Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity) –

  • If your account has an original maturity of one year or less:
    The fee we may impose will equal 30 days interest on the amount withdrawn subject to penalty.
  • If your account has an original maturity of more than one year but less than 42 months:
    The fee we may impose will equal 90 days interest on the amount withdrawn subject to penalty.
  • If your account has an original maturity of 42 months or more, but less than 48 months:
    The fee we may impose will equal 180 days interest on the amount withdrawn subject to penalty.
  • If your account has an original maturity of 48 months or more:
    The fee we may impose will equal 270 days interest on the amount withdrawn subject to penalty

In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. Other exceptions may also apply, for example, if this is part of an IRA or other tax-deferred savings plan.
For any time deposit which earns an interest rate that may vary from time to time during the term, the interest rate we will use to calculate this early withdrawal penalty will be the interest rate in effect at the time of the withdrawal.

  • Withdrawal of interest prior to maturity – The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
  • Automatically renewable time account – This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within ten calendar days after maturity) or we receive written notice from you within the ten calendar day grace period. If you prevent renewal, interest will not accrue after final maturity.
  • Variable Rate – Each renewal term will be the same as the original term, beginning on the maturity date. Interest will be calculated on the same basis as during the original term.
  • Fixed Rate – Each renewal term will be the same as the original term, beginning on the maturity date. The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features as the original time deposit.

You will have ten calendar days after maturity to withdraw the funds without a penalty.

  • Non-automatically renewable time account – This account will not automatically renew at maturity. If you do not renew the account, interest will not accrue after maturity.
  • There will be an IRA set up fee of $30.00.
  • There will be an IRA transfer fee of $30.00.
  • There will be an IRA close out fee of $30.00.

COMMON FEATURES
Please refer to our separate service and fee schedule for additional information about charges.

YOUR ACCOUNT
These are the accounts you have opened or inquired about. Further details about these accounts are inside this disclosure. If the figures are not filled in, please see the insert that is with this disclosure or your periodic statement.

  • CONVENIENCE CHECKING ACCOUNT
  • PREMIER CHECKING ACCOUNT
  • SENIOR CHECKING ACCOUNT (For persons over age 60)
  • E – ACCOUNT
  • SENIOR PLUS CHECKING ACCOUNT
    • The interest rate for your account is —————%
    • with an annual percentage yield of —————%.
  • SENIOR PLUS SAVINGS ACCOUNT
    • Tier 1 – If your daily balance is $5,000.00 or more, the interest rate paid on the entire balance in your account will be —————% with an annual percentage yield of —————%.
    • Tier 2 – If your daily balance is $4,999.99 or less, the interest rate paid on the entire balance in your account will be —————% with an annual percentage yield of —————%.
  • INTEREST CHECKING ACCOUNT
    • Tier 1 – If your daily balance is $50,000.00 or more, the interest rate paid on the entire balance in your account will be —————% with an annual percentage yield of —————%.
    • Tier 2 – If your daily balance is more than $24,999.99, but less than$50,000.00, the interest rate paid on the entire balance in your account will be —————% with an annual percentage yield of —————%.
    • Tier 3 – If your daily balance is more than $9,999.99, but less than$25,000.00, the interest rate paid on the entire balance in your account will be —————% with an annual percentage yield of —————%.
    • Tier 4 – If your daily balance is more than $1,000.00, but less than$10,000.00, the interest rate paid on the entire balance in your account will be —————% with an annual percentage yield of —————%.
  • MONEY MANAGEMENT ACCOUNT
    • Tier 1 – If your daily balance is $100,000.00 or more, the interest rate paid on the entire balance in your account will be —————% with an annual percentage yield of —————%.
    • Tier 2 – If your daily balance is more than $49,999.99, but less than$100,000.00, the interest rate paid on the entire balance in your account will be —————% with an annual percentage yield of —————%.
    • Tier 3 – If your daily balance is more than $24,999.99, but less than$50,000.00, the interest rate paid on the entire balance in your account will be —————% with an annual percentage yield of —————%.
    • Tier 4 – If your daily balance is more than $1,000.00, but less than$25,000.00, the interest rate paid on the entire balance in your account will be —————% with an annual percentage yield of —————%.
  • SAVINGS ACCOUNT
    • The interest rate for your account is —————%with an annual percentage yield of —————%.
  • HIGH FIVE SAVINGS ACCOUNT
    • Tier 1 – If your daily balance is $5,000.00 or more, the interest rate paid on the entire balance in your account will be —————% with an annual percentage yield of —————%.
    • Tier 2 – If your daily balance is $4,999.99 or less, the interest rate paid on the entire balance in your account will be —————% with an annual percentage yield of —————%.
  • YOUTH SAVINGS ACCOUNT (For age 18 and under)
    • The interest rate for your account is —————% with an annual percentage yield of —————%.

202 WEST STEVENS
Hours:
Monday through Friday

Office:
9:00 A.M. – 5:00 P.M.

Drive Up:
Monday through Friday: 8:00 A.M. – 6:00 P.M.
Saturday: 9:00 A.M. – 12:00 P.M.

NORTHGATE SHOPPING CENTER
Hours:
Monday through Friday

Office:
9:00 A.M. – 5:00 P.M.

Drive Up:
Monday through Thursday
8:00 A.M. – 5:00 P.M.
Friday:8:00 A.M. – 6:00 P.M.

SOUTH BRANCH
Hours:
Monday through Friday

Lobby:
9:00 A.M. – 5:00 P.M.

Drive Up:
Monday through Thursday: 8:00 A.M. – 5:00 P.M.
Friday:8:00 A.M. – 6:00 P.M.

Rev. 9/1/2021
201824283-020
© 2019 Wolters Kluwer Financial Services, Inc. All rights reserved.
AIB-TIS 8/1/2019 9a,3q,8d Custom TCM-34y,2bm,4v

Truth-in-Savings Disclosure

Your account is a master deposit account which consists of two subaccounts: a transaction account and a nontransaction account. We will make internal transfers between these two subaccounts however that will have no effect on your account or your ability to use it. See your account agreement for additional information.

Convenience Checking Account

Minimum balance to open the account – You must deposit $100.00 to open this account.

Minimum balance to avoid imposition of fees – If your balance falls below $200.00 on any day in the statement cycle we will impose a maintenance fee of $5.00 once during the statement cycle.

Check limitations: 10 free checks per statement cycle there after each additional check will be $0.40 each.


Premier Checking Account

Minimum balance to open the account – You must deposit $100.00 to open this account.

Minimum balance to avoid imposition of fees – If your balance falls below $900.00 on any day in the monthly statement cycle we will impose a maintenance fee of $9.00 once during the statement cycle.

Fees:
The maximum fee that will be charged to this account is $9.00.


Senior Checking Account
(For persons over age 60)

Minimum balance to open the account – You must deposit $100.00 to open this account.


Senior Plus Checking Account
(To open this account you must also have the
Senior Plus Savings account and be age 60 or better)

Rate Information – Your interest rate and annual percentage yield may change. Frequency of rate changes – We may change the interest rate on your account at any time.

Determination of rate – At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency – Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account – You must deposit $100.00 to open this account.

Minimum balance to obtain the annual percentage yield disclosed – You must maintain a minimum balance of $1,000.00 in the account each day to obtain the disclosed annual percentage yield.

Daily 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.

Accrual of interest on noncash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).


E-Account

Minimum balance to open the account – You must deposit $100.00 to open this account.

  • No monthly maintenance fee
  • Free Visa Debit Card
  • Electronic withdrawals only
  • Free online Banking, Bill Payment and ATM transactions

Senior Plus Savings Account
(To open this account you must also have the
Senior Plus Checking account and be age 60 or better)

Rate Information – Your interest rate and annual percentage yield may change. Frequency of rate changes – We may change the interest rate on your account at any time.

Determination of rate – At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency – Interest will be compounded every quarter. Interest will be credited to your account every quarter.

Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account – You must deposit $5,000.00 to open this account.

Minimum balance to avoid imposition of fees – A maintenance fee of $5.00 will be imposed every month if the balance in the account falls below $5,000.00 any day of the month.

Daily 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.

Accrual of interest on noncash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Transaction limitations:
Transfers from a Senior Plus Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle.

Fees:
An excess withdrawal fee of $3.00 will be charged for each withdrawal other than ATM withdrawals in excess of two during a monthly cycle.


Interest Checking Account

Rate Information – Your interest rate and annual percentage yield may change.

Frequency of rate changes – We may change the interest rate on your account at any time.

Determination of rate – At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency – Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account – You must deposit $100.00 to open this account.

Minimum balance to avoid imposition of fees – If your balance falls below $1,500.00 on any day in the monthly statement cycle we will impose a maintenance fee of $12.00 once during the statement cycle.

Minimum balance to obtain the annual percentage yield disclosed – You must maintain a minimum balance over $1,000.00 in the account each day to obtain the disclosed annual percentage yield.

Daily 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.

Accrual of interest on noncash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).


Money Management Account

Rate Information – Your interest rate and annual percentage yield may change.

Frequency of rate changes – We may change the interest rate on your account at any time.

Determination of rate – At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency – Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account – You must deposit $100.00 to open this account.

Minimum balance to avoid imposition of fees – A maintenance fee of $14.00 will be imposed every statement cycle if the balance in the account falls below $2,500.00 any day of the cycle.

Minimum balance to obtain the annual percentage yield disclosed – You must maintain a minimum balance over $1,000.00 in the account each day to obtain the disclosed annual percentage yield.

Daily 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.

Accrual of interest on noncash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Transaction limitations:
Transfers from a Money Management account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or by debit card or similar order to third parties are limited to six per statement cycle.

Fees:
A transaction fee of $10.00 will be charged for each check or draft in excess of six during a statement cycle.


Savings Account

Rate Information – Your interest rate and annual percentage yield may change.

Frequency of rate changes – We may change the interest rate on your account at any time.

Determination of rate – At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency – Interest will be compounded every quarter. Interest will be credited to your account every quarter.

Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account – You must deposit $100.00 to open this account.

Minimum balance to avoid imposition of fees – A maintenance fee of $3.00 will be imposed every month if the balance in the account falls below $200.00 any day of the month.

Daily 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.

Accrual of interest on noncash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Transaction limitations:
Transfers from a Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle.

Fees:
An excess withdrawal fee of $3.00 will be charged for each withdrawal other than ATM withdrawals in excess of two during a month.


High Five Savings Account

Rate Information – Your interest rate and annual percentage yield may change.

Frequency of rate changes – We may change the interest rate on your account at any time.

Determination of rate – At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency – Interest will be compounded every quarter. Interest will be credited to your account every quarter.

Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account – You must deposit $5,000.00 to open this account.

Minimum balance to avoid imposition of fees – A maintenance fee of $10.00 will be imposed every month if the balance in the account falls below $5,000.00 any day of the month.

Daily 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.

Accrual of interest on noncash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Transaction limitations:
Transfers from a High Five Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle.

Fees:
A teller withdrawal fee of $5.00 will be charged for each teller withdrawal in excess of two during a month.
We will charge you a closeout fee of $5.00 if the account is closed within five months.


Youth Savings Account
(For age 18 and under)

Rate Information – Your interest rate and annual percentage yield may change.

Frequency of rate changes – We may change the interest rate on your account at any time.

Determination of rate – At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency – Interest will be compounded every quarter. Interest will be credited to your account every quarter.

Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account – You must deposit $25.00 to open this account.

Minimum balance to avoid imposition of fees – A maintenance fee of $3.00 will be imposed every month if the balance in the account falls below $25.00 any day of the month.

Daily 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.

Accrual of interest on noncash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Transaction limitations:
Transfers from a Youth Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle.

Fees:
A withdrawal fee of $3.00 will be charged for each withdrawal in excess of two during a month.

Rate Information (fixed rate account) – The interest rate on your account is ___________________% with an annual percentage yield of ___________________%. You will be paid this rate until first maturity.

Rate Information (variable rate account) – The interest rate on your account is ___________________% with an annual percentage yield of ___________________%. Your interest rate and annual percentage yield may change.

Frequency of rate changes – We may change the interest rate on your account and it will be subject to change on the first business day of each month.

Determination of rate – At our discretion, we may change the interest rate on your account.

Compounding frequency – Interest will be compounded every ___________________________________________________ .

Crediting frequency – Interest will be credited to your account every ___________________________________________________ .

Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account – You must deposit $_______________________ to open this account.

Daily 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.

Accrual of interest on noncash deposits – Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Transaction limitations:
The minimum amount you can deposit is $500.00.
You may make withdrawals of principal from your account before maturity.
You can only withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest any time during the term of crediting after it is credited to your account.
Time requirements – Your account will mature ______________________________________________.
Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity) –

  • If your account has an original maturity of one year or less:
    The fee we may impose will equal 30 days interest on the amount withdrawn subject to penalty.
  • If your account has an original maturity of more than one year but less than 42 months:
    The fee we may impose will equal 90 days interest on the amount withdrawn subject to penalty.
  • If your account has an original maturity of 42 months or more, but less than 48 months:
    The fee we may impose will equal 180 days interest on the amount withdrawn subject to penalty.
  • If your account has an original maturity of 48 months or more:
    The fee we may impose will equal 270 days interest on the amount withdrawn subject to penalty.

In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. Other exceptions may also apply, for example, if this is part of an IRA or other tax-deferred savings plan.

For any time deposit which earns an interest rate that may vary from time to time during the term, the interest rate we will use to calculate this early withdrawal penalty will be the interest rate in effect at the time of the withdrawal.

Withdrawal of interest prior to maturity – The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.

Automatically renewable time account – This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within ten calendar days after maturity) or we receive written notice from you within the ten calendar day grace period. If you prevent renewal, interest will not accrue after final maturity.

Variable Rate – Each renewal term will be the same as the original term, beginning on the maturity date. Interest will be calculated on the same basis as during the original term.

Fixed Rate – Each renewal term will be the same as the original term, beginning on the maturity date. The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features as the original time deposit.

You will have ten calendar days after maturity to withdraw the funds without a penalty.

Non-automatically renewable time account – This account will not automatically renew at maturity. If you do not renew the account, interest will not accrue after maturity.

There will be an IRA set up fee of $30.00.
There will be an IRA transfer fee of $30.00.
There will be an IRA close out fee of $30.00.
Please refer to our separate service and fee schedule for additional information about charges.
_____________________________________________________


YOUR ACCOUNT

These are the accounts you have opened or inquired about. Further details about these accounts are inside this brochure. If the figures are not filled in, please see the insert that is with this disclosure or your periodic statement.

CONVENIENCE CHECKING ACCOUNT

PREMIER CHECKING ACCOUNT

SENIOR CHECKING ACCOUNT (For persons over age 60)

E-ACCOUNT

SENIOR PLUS CHECKING ACCOUNT
The interest rate for your account is ___________________%
with an annual percentage yield of ___________________%.

SENIOR PLUS SAVINGS ACCOUNT
Rate Information:

  • Tier 1 – If your daily balance is $5,000.00 or more, the interest rate paid on the entire balance in your account will be ___________________% with an annual percentage yield of ___________________%.
  • Tier 2 – If your daily balance is $4,999.99 or less, the interest rate paid on the entire balance in your account will be ___________________% with an annual percentage yield of ___________________%.

INTEREST CHECKING ACCOUNT
Rate Information:

  • Tier 1 – If your daily balance is $50,000.00 or more, the interest rate paid on the entire balance in your account will be ___________________% with an annual percentage yield of ___________________%.
  • Tier 2 – If your daily balance is more than $24,999.99, but less than $50,000.00, the interest rate paid on the entire balance in your account will be ___________________% with an annual percentage yield of ___________________%.
  • Tier 3 – If your daily balance is more than $9,999.99, but less than $25,000.00, the interest rate paid on the entire balance in your account will be ___________________% with an annual percentage yield of ___________________%.
  • Tier 4 – If your daily balance is more than $1,000.00, but less than $10,000.00, the interest rate paid on the entire balance in your account will be ___________________% with an annual percentage yield of ___________________%.

MONEY MANAGEMENT ACCOUNT
Rate Information:

  • Tier 1 – If your daily balance is $100,000.00 or more, the interest rate paid on the entire balance in your account will be ___________________% with an annual percentage yield of ___________________%.
  • Tier 2 – If your daily balance is more than $49,999.99, but less than $100,000.00, the interest rate paid on the entire balance in your account will be ___________________% with an annual percentage yield of ___________________%.
  • Tier 3 – If your daily balance is more than $24,999.99, but less than $50,000.00, the interest rate paid on the entire balance in your account will be ___________________% with an annual percentage yield of ___________________%.
  • Tier 4 – If your daily balance is more than $1,000.00, but less than $25,000.00, the interest rate paid on the entire balance in your account will be ___________________% with an annual percentage yield of ___________________%.

SAVINGS ACCOUNT

The interest rate for your account is ___________________%
with an annual percentage yield of ___________________%.

HIGH FIVE SAVINGS ACCOUNT
Rate Information:

  • Tier 1 – If your daily balance is $5,000.00 or more, the interest rate paid on the entire balance in your account will be ___________________% with an annual percentage yield of ___________________%.
  • Tier 2 – If your daily balance is $4,999.99 or less, the interest rate paid on the entire balance in your account will be ___________________% with an annual percentage yield of ___________________%.

YOUTH SAVINGS ACCOUNT (For age 18 and under)

The interest rate for your account is ___________________%
with an annual percentage yield of ___________________%.
_________________________ CERTIFICATE OF DEPOSIT

Substitute Checks and Your Rights

As our customer we think it’s important for you to know about substitute checks. The following Substitute Check Disclosure provides information about substitute checks and your rights. So you will recognize substitute checks when you receive them, we have included a copy of the front side of a substitute check along with an explanation of the substitute check’s components.

What is a substitute check?
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. The front of a substitute check states: “This is a legal copy of your check. You can use it the same way you would use the original check.” You may use a substitute check as proof of payment just like the original check.

Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions.

What are my rights regarding substitute checks?
In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounced check fees).

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 your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law.

If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 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:

CNB Bank
202 West Stevens
P.O. Box 1359
Carlsbad, New Mexico 88221

575-234-2500

You must contact us within 60 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 or the following information to help us identify the substitute check: the check number, the amount of the check, the date of the check, and the name of the person to whom you wrote the check.

Substitute Check Image

Below is an image of a sample substitute check. The numbers listed below the image correspond with the numbers on or near the substitute check image and the corresponding text explains the various components of a substitute check.

Substitute check with six markers indicating what they are and explaining each number below
These numbers correspond with the numbers on the Substitute Check Image:
  1. An image of the original check appears in the upper right-hand corner of the substitute check.
  2. A substitute check is the same size as a standard business check.
  3. The information in asterisks relates to the “reconverting bank”—the financial institution that created the substitute check.
  4. The information in brackets (appears sideways facing check image) relates to the “truncating bank”—the financial institution that took the original check out of the check processing system.
  5. The Legal Legend states: This is a LEGAL COPY of your check. You can use it the same way you would use the original check.
  6. The MICR lines at the bottom of the image of the original and at the bottom of the substitute check are the same except for the “4” at the beginning of the MICR line on the substitute check, which indicates that it is a substitute check being moved forward for collection purposes. It is also possible for the MICR line on the substitute check to begin with a “5” if the item is being returned. The rest of the MICR line is the same as the original check to ensure that it is processed as though it were the original.
Mobile Policy Disclosure

WHAT DOES CNB BANK DO WITH YOUR PERSONAL INFORMATION FROM THE MOBILE APPLICATION


The mobile application requests access to information stored on your device such as location, camera, contacts, or other features you are enrolled in to enrich and simplify your own user experience and improve our services, as well as provide additional security to protect your account.

It is important for you to understand that:

  • Before granting access to this information, you will be prompted to give the application that permission.
  • If you do not wish to grant that permission, you may decline.
  • If you later change your mind, those permissions can be updated in your device’s settings.

Some examples of information your app will request access to are:

  • Location
  • Contacts
  • Camera

To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.

The application information is retained in accordance with state and federal record retention laws. Please contact us to determine specific timeframes for your personal stored information and if that information may be deleted.


Please contact CNB Bank at 575-234-2500 regarding questions about the information included in this Mobile Privacy Disclosure or questions about this application.

Touchtone Banking

575-234-2525

For a Lost or Stolen Debit or ATM Card

In the event you have lost or had your ATM/Debit Card stolen, you may call the following numbers to remedy:

During normal business hours:
575-234-2500 and ask for Customer Service

After normal business hours:
VISA Debit Cards – 1-800-236-2442
ATM Cards – 1-800-236-2442

Since 1924, CNB Bank has been a community-owned bank. “Community Minded Just Like You” is the philosophy and slogan of the bank. The bank is committed to being a visible and contributing member of the bank. Our goal is to help strengthen the community in which we do business by supporting the organizations and community projects in our market area.

CNB Bank believes that individuals and businesses are responsible for finding ways to improve the community. Bank employees are important stakeholders in the bank and are encouraged to be involved with charitable organizations. The bank supports its employees in their commitment to helping local organizations in need. Furthermore, as a leader in the community, the bank must provide an example of charitable giving. The bank has established the Community Giving Policy:

CNB Bank strives to adhere to core standards that comply with the Community Reinvestment Act (CRA). Donations that help attain community development credit will be considered on a priority basis.

Programs supported by CNB Bank’s Community Giving Policy should strive to develop community growth, strengthen families, improve the quality of life, and provide programs for youth that teach integrity, accountability and responsibility. Our desire is to help as many people and programs as possible within the bank’s marketing budget constraints.

Requests are limited to organizations that operate in Eddy County and support youth an financial literacy programs, quality-of-life initiatives, and health and human services for the underprivileged. No requests for political purposes, sponsorships of individual competitions, religious organizations, or advertisements inside private businesses will be granted.

Bank contributions are generally at most $250, however, exceptions can be made in certain situations.

If you or your organization would like to request a donation from CNB Bank, please fill out a donation request form here.

CNB Bank has been serving the citizens of Carlsbad and Eddy County since 1924. We are a Community Minded Bank located in Southeast New Mexico. Are you ready to join our team?

Our Benefits include: Health, Vision, Dental and Life Insurance, 401k/Profit Sharing Plan, Tuition Assistance, Professional Development, Paid Vacation and Sick Days, 11 Paid Holidays and more!

For employment inquiries please contact Human Resources at 202 W. Stevens or human.resources@ourcnb.com.

Open positions will be posted here on Indeed and ZipRecruiter

 

Current Open positions:

Loan Officer 

Teller

Insurance Administrative Assistant 

Commercial Loan Servicer

Credit Officer

Equal Opportunity Employer

Exterior shot of the main bank branch
Main Bank

202 W Stevens Street
Carlsbad, NM 88220

Lobby Hours | Drive-Thru Hours

Lobby: M-F 9am – 5pm
Drive Thru: M-F 8am – 6pm
Drive Thru Saturday: 9am – 12pm

Phone

575-234-2500

Exterior shot of the North Gate branch
Northgate Shopping Center

1509 W Pierce Street
Carlsbad, NM 88220

Lobby Hours | Drive-Thru Hours

Lobby: M-F 9am – 5pm
Drive Thru: M-TH 8am – 5pm
Drive Thru Friday: 8am – 6pm

Phone

575-234-2588

Exterior shot of the South branch
South Branch

3518 National Parks Highway
Carlsbad, NM 88220

Lobby Hours | Drive-Thru Hours

Lobby: M-F 9am – 5pm
Drive Thru: M-TH 8am – 5pm
Drive Thru Friday: 8am – 6pm

Phone

575-234-2570

Chat with a representative