This policy statement applies to all deposit accounts.

Our general policy is to make funds from your deposits available to you on the day we receive your deposit. Electronic direct deposits will always be available on the day we receive the deposit. Once they are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written. The bank will assess a fee for processing checks that attempt to clear against unavailable funds. Please consult the general Fee Schedule for the current fee.

Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit.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 closing 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 closing or on a day we are not open (for example, through the night depository), we will consider that the deposit was made on the next business day we are open.

LONGER DELAYS MAY APPLY

In some cases, we will not make all of the funds that you deposit by check available to you on 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. However, the first $200 of your deposit will be available on the day you make your deposit.

If we are not going to make all of the funds from your deposit available on the day of your deposit, 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.

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 $5,000 on any one day.
• You redeposit a check that has been returned unpaid.
• You have overdrawn your account repeatedly in the last six months.
• There is an emergency, such as failure of communications or computer equipment.

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

If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.

If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.

DEPOSITS AT AUTOMATED TELLER MACHINES

Funds from deposits (cash or checks) made each business day before 12:00 noon at an Automated Teller Machine (ATM) owned or operated by us will be available the next business day. 

Funds from any deposits (cash or checks) made at ATMs we do not own or operate may not be available until the fifth business day after the day of your deposit. The addresses of all ATMs that we own or operate can be found on the ATM page.

SPECIAL RULES FOR NEW ACCOUNTS
If you are a new customer, the following special rules may apply during the first 30 days your account is open.

Funds from electronic direct deposits into your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,000 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 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 $5,000 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 $5,000 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 thirtieth business day after the day of your deposit.

ELECTRONIC FUNDS TRANSFER – YOUR RIGHTS AND RESPONSIBILITIES
The Electronic Funds Transfers we are capable of handling are indicated below, some of which may not apply to your account.  Please read this disclosure carefully because it tells you your rights and responsibilities for these transactions.  You should keep this notice for future reference.

PERSONAL IDENTIFICATION NUMBER (PIN)
The Automatic Teller Machine (ATM) PIN issued to you is for your security purposes.  The numbers are confidential and should not be disclosed to third parties or recorded on the card.  You are responsible for the safekeeping of your PIN.  You agree not to make your card or PIN available to anyone not authorized to sign on your accounts.

CONSUMER LIABILITY
Tell us AT ONCE if you believe your card or PIN 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 or PIN, you can lose no more than $50 if someone used your card or PIN without your permission.

If you do NOT tell us within 2 business days after you learn of the loss or theft of your card or PIN, and we can prove we could have stopped someone from using your card or PIN 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, PIN, 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.

CONTACT IN EVENT OF UNAUTHORIZED TRANSFER
If you believe your card or PIN has been lost or stolen, call or write:
765-742-1064 or 800-704-3084:
Lafayette Savings Bank – Operations Department
101 Main Street P.O. Box 1628
Lafayette, IN 47902-1628

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

BUSINESS DAYS
For purposes of these disclosures, our business days are Monday through Friday. Holidays are not included.

TRANSFER TYPES AND LIMITATIONS
Account access
You may use your card and personal identification number (PIN) to:

• Withdraw cash from your checking or savings account.
• Make deposits to your checking or savings account.
• Transfer funds between your checking and savings accounts whenever you request.
• Pay for purchases at places that have agreed to accept the card.
• Make certain specified payments from your deposit accounts.
• Obtain balance information on your deposit accounts.

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

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.
• Pay bills.

Limitations on frequency and dollar amounts of transfers

• You may withdraw up to $200 from our terminals each day you use the card.
• You may buy up to $500 worth of goods or services each day you use the card in our point-of-sale transfer service.
• You may transfer at least $50.00 to and from your various accounts by using the telephone banking Bankfone system.
• Statement Savings and Preferred Savings accounts are allowed no more than 4 withdrawals or transfers per month without charge.  These include ATM withdrawals and transfers, over-the-counter withdrawals, telephone transfers, and preauthorized transfer or withdrawal and transfers associated with overdraft protection.

 
FEES

• There is no charge for direct deposits to any type of account.
• There is no charge for pre-authorized withdrawals from any type of account.
• There is no charge for ATM transactions at machines owned by us.
• We may impose a fee for any ATM deposit or withdrawal made at an ATM that is not owned by Lafayette Savings Bank (see fee schedule)
• There is a fee for replacing a lost card (see fee schedule).
• For each Statement Savings or Preferred Savings withdrawal or transfer over 4 a fee will be assessed (see fee schedule).

ATM 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.

Fee for Non-Sufficient Funds ACH Return. This transaction occurs when a fee is assessed electronically by the payee for re-presentment of an ACH transaction originally returned due to non-sufficient funds.

ACCOUNT INFORMATION DISCLOSURE & 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
• If you give us your written permission.

DOCUMENTATION
Terminal transfers
You can get a receipt at the time you make any transfer to or from your account using one of our automated teller machines or point-of-sale terminals.

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, the person or company making the deposit will tell you every time they send us the money. You can call us at the telephone number referenced above to find out whether or not the deposit has been made.

Periodic statements
You will get a monthly account statement (unless there are no transfers in a particular month. In any case you will get the statement at least quarterly.)

Passbook accounts
If the only possible electronic fund transfers are preauthorized credits and you bring your passbook to us, we will record any electronic deposits that were made to your account since the last time you brought in your passbook.

PREAUTHORIZED PAYMENTS
Types of Preauthorized  Transfers
You may arrange for us to complete the following preauthorized transfers to and from your deposit account(s):

• Accept direct deposits from your employer, U.S. Treasury Department, or other financial institutions.
• Pay certain recurring bills.

Stop Payment and Revocation Rights
If you have arranged in advance to make regular electronic fund transfers out of your account(s) for money you owe others, you may stop payment of a single specific preauthorized transfer, or you may revoke all specific preauthorized transfers from your account(s).  Here’s how:  Call us at the telephone number or write us at the address referenced above, in time for us to receive your request three business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within fourteen (14) days after you call. We will charge you for each stop-payment order you give (see fee schedule).  If we do require written confirmation, the phoned stop payment or revocation request shall cease to be binding fourteen (14) days after it has been made if you do not provide the written confirmation.

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.

LAFAYETTE SAVINGS BANK LIABILITY
If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

• If, through no fault of ours, you do not have enough money in your account to make the transfer.
• If the transfer would go over the credit limit on your overdraft line.
• If the automated teller machine 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.

ERROR RESOLUTION NOTICE
In Case of Errors or Questions About Your Electronic Transfers - Telephone us at or write us at:
765-742-1064 or 800-704-3084
Lafayette Savings Bank – Operations Department
101 Main Street P.O. Box 1628
Lafayette, IN 47902-1628

Contact us 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 after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account.

For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.

We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

TERMINATION OF ELECTRONIC FUNDS TRANSFER SERVICES
You agree that we may terminate this Agreement and your use of the card and PIN, if:

• You or an authorized user of your card or PIN breaches this or any other agreement with Lafayette Savings Bank.
• We have reason to believe there has been unauthorized use of your card or PIN.
• We notify you or any other party authorized on your account that we have cancelled or will cancel this agreement.

TRUTH IN SAVINGS DISCLOSURE

Student Simply Checking

There is no minimum balance to open this account and no monthly fee. See the fees section for possible fees on other types of transactions. Please also see the fees section regarding transaction limitations that apply.  Interest is not paid on this account.  We reserve the right to require at least seven days' notice in writing before each withdrawal from this account.  Check printing fees: depends on style and quantity of checks ordered. 

Simply Checking

The minimum balance to open this account is $100. See the fees section for possible fees on other types of transactions. Please also see the fees section regarding transaction limitations that apply.  Interest is not paid on this account.  We reserve the right to require at least seven days' notice in writing before each withdrawal from this account.  Check printing fees: depends on style and quantity of checks ordered. 

Rewards Checking

The minimum balance to open this account is $100.  For the monthly service fee, consult the fees page of this Web site. The annual percentage yield (APY) as stated in the rate section of this Web site is accurate as of the date indicated. The minimum balance necessary to earn the APY is $2,500. The interest rate is variable and may be changed at our discretion. Interest will be compounded every day. Interest will be credited to your account every month. 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. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). We reserve the right to require at least seven days’ notice in writing before each withdrawal from this account. Check printing fees: depends on style and quantity of checks ordered. Fees could reduce earnings.

Distinct Checking

The minimum balance to open this account is $100. For the monthly service fee, consult the fees page of this Web site. The monthly service fee is waived with Direct Deposit or minimum balance of $5,000 or greater. The annual percentage yield (APY) as stated in the rate section of this Web site is accurate as of the date indicated. The minimum balance necessary to earn the APY is $2,500. The interest rate is variable and may be changed at our discretion. Interest will be compounded every day. Interest will be credited to your account every month. 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. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). We reserve the right to require at least seven days’ notice in writing before each withdrawal from this account. Check printing fees: depends on style and quantity of checks ordered. Fees could reduce earnings.

Advantage Checking

The minimum balance to open this account is $100. For the monthly service fee, consult the fees page of this Web site. The monthly service fee is waived with Direct Deposit or minimum balance of $5,000 or greater. The annual percentage yield (APY) as stated in the rate section of this Web site is accurate as of the date indicated. The minimum balance necessary to earn the APY is $2,500. The interest rate is variable and may be changed at our discretion. Interest will be compounded every day. Interest will be credited to your account every month. 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. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). We reserve the right to require at least seven days’ notice in writing before each withdrawal from this account. Check printing fees: depends on style and quantity of checks ordered. Fees could reduce earnings.

Health Savings Account

The annual percentage yield (APY) for rate tiers and their corresponding balances are stated in the rate section of this Web site and are accurate as of the date indicated. The minimum balance to open this account is $100. The interest rate is variable and may be changed at our discretion. Interest will be compounded every day. Interest will be credited to your account every month. 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. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Account holders must have a high deductable health plan in place before opening this account. An initial set up fee of $20 is assessed on this account. The monthly maintenance fee of $3 will be assessed. Fees may reduce earnings.

Access Plus

The annual percentage yield (APY) for rate tiers and their corresponding balances are stated in the rate section of this Web site and are accurate as of the date indicated. The minimum balance to open this account is $1,000. The interest rate is variable and may be changed at our discretion. Interest will be compounded every day. Interest will be credited to your account every month. 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. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). An unlimited number of withdrawals may be made in person, by mail, messenger, ATM, telephone (when you request a check be sent to you), and for automatic payment of a loan at Lafayette Savings Bank. See the fees section for possible fees on other types of transactions.  We reserve the right to require at least seven days' notice in writing before each withdrawal from this account. Fees could reduce earnings. Please also see the fees section regarding transaction limitations that apply.  A fee will be assessed if the minimum balance requirement is not met.  See Fee Schedule for current requirement and fee.

Statement Savings

The minimum balance to open this account is $100.  The annual percentage yield (APY) is stated in the interest rate section of this Web site and is accurate as of the date indicated. Interest will be compounded every day. Interest will be credited to your account every quarter. 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. There is no minimum balance necessary to earn the stated APY. The interest rate is variable and may be changed at our discretion. Fees could reduce earnings. Consult the general Fee Schedule for the current fees. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). We reserve the right to require at least seven days' notice in writing before each withdrawal from this account. Please also see the fees section regarding transaction limitations that apply.

Relationship Savings

There is no minimum balance required to open this account, but it must be linked to a checking account at LSB.  The annual percentage yield (APY) is stated in the interest rate section of this Web site and is accurate as of the date indicated. Interest will be compounded every day. Interest will be credited to your account every quarter. 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. There is no minimum balance necessary to earn the stated APY. The interest rate is variable and may be changed at our discretion. The account must remain linked to a checking account in order to avoid minimum balance fees.  Fees could reduce earnings. Consult the general Fee Schedule for the current fees. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). We reserve the right to require at least seven days' notice in writing before each withdrawal from this account. Please also see the fees section regarding transaction limitations that apply.

Preferred Savings

The annual percentage yield (APY) for rate tiers and their corresponding balances are stated in the interest rate section of this Web site and are accurate as of the date indicated.  The minimum balance to open this account is $10,000.  The interest rate is variable and may be changed at our discretion. Interest will be compounded every day. Interest will be credited to your account every month. 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. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). An unlimited number of withdrawals may be made in person, by mail, messenger, ATM, telephone (when you request a check be sent to you), and for automatic payment of a loan at Lafayette Savings Bank. See the fees section for possible fees on other types of transactions.  We reserve the right to require at least seven days' notice in writing before each withdrawal from this account. Fees could reduce earnings. Please also see the fees section regarding transaction limitations that apply.  A fee will be assessed if the minimum balance requirement is not met.  See Fee Schedule for current requirement and fee.

Christmas Club

The minimum balance to open this account is $25.  The annual percentage yield (APY) as stated in the interest rate section of this Web site is accurate as of the date indicated.  Simple interest will be paid yearly.  There is no minimum balance necessary to earn the stated APY.  The interest rate is variable and may be changed at our discretion.  Fees could reduce earnings.  Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).  We reserve the right to require at least seven days' notice in writing before each withdrawal from this account.  Early withdrawal from account automatically closes account with an early close-out fee of $25.

Transactions Limitations

Statement Savings and Preferred Savings accounts are allowed no more than four withdrawals or transfers per month without charge. These include ATM withdrawals and transfers, over-the-counter withdrawals, telephone transfers, any preauthorized transfer or withdrawal and transfers associated with overdraft protection. For each withdrawal or transfer beyond four, a fee of $1.00 will be assessed. Transfers from a Statement Savings or Preferred Savings account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per month with no transfers by check, draft, debit card or similar order to third parties. Access Plus account is allowed a total of six (6) pre-authorized withdrawals/transfers to third parties or another account per statement period, including checks without a charge. Transfers beyond these limits will be assessed a fee. Consult the general Fee Schedule for the current fee.

Certificates of Deposit

Minimum balance to open the account - A $25 minimum deposit is required to open the 18 month IRA.  On all other certificates, a minimum deposit of $500 is required.

Rate Information - The annual percentage yield (APY) as stated in the rate section of this Web site is accurate as of the date indicated. The minimum deposit and balance necessary to earn the stated APY is $500 on all certificates other than the 18 month variable-rate IRA account. For that account, the minimum balance is $25. There will be a penalty for early withdrawals from all certificates other than the 7-month certificate. There will be penalty for early withdrawal from the 7-month certificate if the withdrawal occurs within the first 6 days of deposit. The interest rate on the 18-month IRA certificate is variable and may change at our discretion on the first day of every month. Interest rates on all other certificates remain fixed for the term of the certificate.

Compounding frequency - 91 and 182 day at term, 7+ months quarterly.

Crediting frequency - 91 and 182 day at term, 7+ months quarterly.

Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies to 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 we receive credit for the deposit of noncash items (for example, checks).

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 any grace period mentioned below) or we receive written notice from you within any grace period mentioned below. We can prevent renewal if we mail notice to you at least 30 days before maturity. If either you or we prevent renewal, interest will continue to accrue after final maturity for up to 10 days. If you withdraw the funds before the end of the grace period, the interest rate you earn during the grace period will be the interest rate of the certificate during the term just ended. If you allow the certificate to renew automatically, the interest rate will be the then current rate in effect for new certificates of the same term. For Special Term CD’s, the interest rate will be the current rate in effect for the type of CD to which the original CD renews.  You will have a grace period of ten calendar days after maturity to withdraw all the funds without a penalty.

Transaction limitations - On the 7-month CD, you may make unlimited deposits into your account before maturity. However, funds must remain on deposit for at least six (6) days before they are available for withdrawal without penalty. After funds are available, you may make withdrawals of principal and interest from your account before maturity without penalty. Minimum transaction amounts need to be at least $500.  No payments to third parties are permitted on this account. On the 18-month IRA certificate, unlimited transactions of at least $25 may be made. For all certificate accounts other than the 7-month and the 18-month IRA certificates, you may not make any deposits into your account before maturity. You may make withdrawals of principal from your account before maturity, but a penalty may be imposed. You may only withdraw interest from an account without a penalty after the interest:

1. has been credited to the account, and
2. before the next maturity date. When the certificate renews, the interest earned in the previous term becomes part of the principal for the renewal term and may not be withdrawn without a penalty. Except on 91-day certificates, you may choose to withdraw interest by check or transfer to another Lafayette Savings Bank account monthly, quarterly, semiannually or annually.

Early Withdrawal Penalties - A penalty may be imposed for withdrawals before maturity.

For 91-day and 7-month certificates, the fee we may impose is the greater of: (a) 7 days interest, on the amount withdrawn subject to penalty, if the withdrawal is made within the first six days after deposit or (b) all interest on the amount withdrawn subject to penalty.

For 182-day, 9-month, and 12-month certificates, the fee we may impose will equal 90 days interest on the amount withdrawn subject to penalty. For certificates of terms greater than 12 months, the fee we may impose will equal 6 months interest on the amount withdrawn subject to penalty.

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

A change in APY - A change in interest disposition from the stated compounding frequency may change your annual percentage yield.

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