Lumbee Guaranty Bank

Personal Savings Account

*Minor Deposit Accounts and Student Accounts
Minimum Balance and maintenance Fees are Waived.
*We reserve the right, at any time, to require not less than 7 days notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D.

TRUTH-IN-SAVINGS DISCLOSURE

PERSONAL 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 you account.
Compounding and crediting frequency - Interest will be compounded every day. Interest will be credited to your account every month.
Minimum balance to open the account - You must deposit $100.00 to open this account.
Minimum balance to avoid Imposition of fees - A monthly maintenance fee of $4.00 will be imposed every statement cycle if balance in the account falls below minimum $200.00 on 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 Personal Savings account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per statement cycle with no transfers by check, debit card, or similar order to third parties.
Fees:
A withdrawal fee of $2.00 will be changed for each withdrawal in excess of two during a month.
For minor deposit accounts and student accounts, the minimum balance and maintenance fees will be waived.

Temporary Changes to FDIC Deposit Insurance Coverage

The standard insurance amount of $250,000 per depositor is in effect through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except IRAs and other certain retirement accounts, which will remain at $250,000 per depositor.

The FDIC�s temporary Transaction Account Guarantee Program provides depositors with unlimited coverage for noninterest-bearing transaction accounts at participating FDIC-insured institutions. Noninterest-bearing checking accounts include Demand Deposit Accounts (DDAs) and any transaction account that has unlimited withdrawals and that cannot earn interest.

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