CUSTOMER AGREEMENT

Important Account Information

 

Upon approval by First Neighbor Bank, NA (the “Bank”) of your application, you shall be entitled to the services of the account.

 

Upon signing the application for membership in the account, you do hereby agree to accept the following terms and conditions.

  • You shall maintain a personal (not business) checking account with the Bank until such time as this agreement is terminated as herein provided.
  • You will pay and do hereby authorize the Bank to deduct from your personal checking account the monthly stated service fee.
  • You may cancel this agreement at any time upon seven days written notice to the Bank and surrender of your account membership cards and payment of all obligations hereunder to the Bank. However, if an account is closed within 90 days of account opening date, a fee may be charged.
  • The Bank may cancel this agreement at any time, without notice, if you fail to abide by the provisions and terms herein set forth, or if your personal checking account is garnished by legal process.
  • This agreement shall be subject to all applicable federal and state banking laws and regulations, the by-laws of the Bank, to all present and future amendments thereto, and all regulations, rules, and practices theretofore or hereafter adopted by the Bank. This agreement may be amended from time to time by the Bank, but no such amendment shall be effective until 30 days after written notice to you.
  • All notices, statements of account, demands and other communications by the Bank shall be mailed to you at your address set forth in your application, or such address the application is signed by one or more persons who have a joint personal checking account, each shall be jointly and severally liable for all sums payable hereunder.
  • Rate Information: For current rates, call your local branch. At our discretion, we may change the interest rate on your account periodically without prior notification.
    Compounding and Crediting: Interest on your account will be compounded and credited to your account monthly. If you close your account before interest is credited, you will not receive the accrued interest.
    Balance Computation Method: We use the daily balance method to calculate interest on your account. This method applies a periodic rate to the daily balance in the account for the period. The daily balance is calculated by adding the principal in the account each day of the period and dividing that figure by the number of days in the period.
    Accrual of Interest: Interest begins to accrue on the business day you deposit non-cash items (for example: checks).