Disclosure Statement

Iron Workers Internet Banking Disclosure Statement

This Disclosure Statement advises you of your rights and responsibilities under the Electronic Funds Transfer Act. This Disclosure Statement applies only to consumer accounts established primarily for personal, family or household purposes that are accessed through the Iron Workers Website.

Availability Of Internet Banking Services

Iron Workers Internet Banking Services are available to anyone who maintains a checking account at Iron Workers Bank. All individual accounts and certain joint accounts are accounts “eligible” to access through the Iron Workers Website. To take advantage of these services and access the Website, you are required to have an “Access ID” and a “Password.” How you obtain your “Access ID” and “Password” is explained on the Website.
Consumer Liability

If you believe that your “Access ID” and/or “Password” have been lost or stolen, or that an unauthorized transaction has been made from any of the accounts you access through the Iron Workers Website, TELL US AT ONCE. Telephoning is the best way of keeping your possible losses at a minimum. You could lose all the money in your account, plus your maximum overdraft line of credit. If you tell us within two (2) business days after you learn of the loss or theft, or unauthorized transaction, you can lose no more than $50 if someone accessed the Iron Workers Website without your permission. If you do NOT tell us within two (2) business days after you learn of the loss or theft of your “Access ID” and “Password,” or the unauthorized transaction, and we can prove we could have stopped the unauthorized access to our Website if you had told us, you could lose as much as $500.

Also, if your monthly statement shows any transfer, payment or other transaction which you or an authorized person did not make, TELL US AT ONCE. If you do not tell us within sixty (60) days after the statement is mailed to you, you may not get any money you lost after the sixty (60) days if we can prove we could have prevented someone from taking your money if you had told us in time.

For all purposes stated in this disclosure statement,, you may contact Iron Workers by calling us at 610-497-1800 or writing us at:

Iron Workers Bank
3333 Concord Road
P.O. Box 2200
Aston, PA 19014

Business Days

For purposes of these Disclosures, our business days include every day other than Saturday, Sunday or one of the Federal Holidays.

Iron Workers Internet Banking Services

You may use the Iron Workers Website to perform the following transactions:

• Transfer funds between an “eligible” checking account, statement savings account, passbook savings account, money market account and/or loan account;
• Obtain balance and transaction information from these accounts;
• Set up the distribution of funds from your checking account to Payees that you designate to receive payment through Iron Workers Internet Banking Services. Payments may be scheduled on an individual basis, or to occur automatically on a recurring basis. You may also make payments to your Iron Workers loan accounts by transferring funds directly to these accounts from your checking account.

Procedures For Preauthorized Payments

Payments to any Payee may be made through Iron Workers Internet Banking Services by electronic means or by draft mailed to the Payee. Individual payments may be scheduled up to sixty (60) days in advance.

Regularly recurring payments for the same amount, such as your mortgage or car payments, may be scheduled for payment on the same day of each month. Regular payments in varying amounts may also be accommodated. If the regular payment day falls on a weekend or holiday, these payments will be made on the scheduled business day or the preceding business day.

Payments and other transactions conducted on a business day are posted as of that business day. Payments and other transactions conducted on a Saturday, Sunday or one of the Federal Holidays are posted the next business day. Recurring and future dated transactions will be posted to your account as of the business day such transactions are initiated. If your Iron Workers Internet Banking Services are cancelled, either by you or us, all recurring and future dated payments will also be cancelled.

PAYMENTS MADE THROUGH THE IRON WORKERS INTERNET BANKING SERVICES REQUIRE A MINIMUM OF THREE (3) BUSINESS DAYS FOR THE PAYEE TO CREDIT YOUR ACCOUNT. IT IS YOUR RESPONSIBILITY TO SCHEDULE A PAYMENT SUFFICIENTLY IN ADVANCE OF THE DUE DATE SO THAT THE PAYMENT IS RECEIVED AND PROCESSED IN A TIMELY MANNER. WE DO NOT GUARANTEE PROMPT RECEIPT AND PROCESSING OF PAYMENTS BY PAYEES. WE ARE NOT RESPONSIBLE FOR ANY FINANCE CHARGES OR LATE FEES IMPOSED, OR OTHER ACTION TAKEN, BY A PAYEE BECAUSE OF A LATE PAYMENT.

Limitations On The Use Of Iron Workers Internet Banking Services

You will be denied the use of Iron Workers Internet Banking Services if you (1) do not have adequate funds available in the applicable account or available overdraft protection, or (2) do not enter the correct “Access ID” or “Password”. There is a limit on the number of denials permitted and you will be denied access to the service if you exceed these limits. The number of attempts permitted is not revealed for security reasons. Assuming you have adequate funds, there is no limit of the dollar amount of any transaction you can conduct through the Iron Workers Website. Transfers from any Statement or Passbook savings account or Money Market account are limited to six (6) per month per account.

Charges

Fees for the Iron Workers Internet Banking services and Check stop payments are provided in our retail fee schedule. We will provide you with notice of changes in this policy as required by law.

Disclosure Of Account Information

We may and will disclose information to third parties about your account(s) or the transactions you make:

1. Where it is necessary to complete the requested transactions;
2. In order to verify the existence and standing of your account(s) with us upon the request of a third party, such as a credit bureau, or a merchant or other payee;
3. If you give us your written permission; or,
4. In order to comply with government agency or court orders or other process, including our agency examinations and escheat reports.

Your right to stop preauthorized Bill Payments and our liability for failure to stop payment

If you told us in advance to make regular payments out of your account, or even to make an individually scheduled payment, you may be able to stop payment if you can advise us you wish to stop payment in a timely manner. IN ALL CASES YOU MUST CONTACT US IN TIME FOR US TO RECEIVE YOUR REQUEST TO STOP PAYMENT THREE (3) BUSINESS DAYS OR MORE BEFORE THE SCHEDULED PAYMENT.

If you call us and make an oral stop payment request, we may also require you to confirm your request in writing and get it to us within fourteen (14) days after you call. Normal account charges for stop payments apply.

If you ordered us to stop a preauthorized payment three (3) business days or more before the scheduled payment and we do not stop payment, we may be liable for your losses or damages, unless we require and do not receive written confirmation of an oral stop payment request within the fourteen (14) days and the transfer takes place after the fourteen (14) days, or you fail to give us proper instructions that would enable us to stop the payment. Our liability for losses or damages may be limited to actual damages you have sustained if the failure to stop payment was due to a bona fide error, despite our procedures to avoid such errors.

Record Of Transaction

You will receive a monthly statement showing the status of your accounts, including transactions that occurred during the past month. Transactions you have authorized through the Iron Workers Website will be indicated on the statement.

Our liability for failure to complete an electronic fund transfer transaction

If we fail to complete a transaction on time or in the correct amount, when properly instructed by you, we will be liable for certain damages proximately caused by our failure unless:

1. If, through no fault of ours, you do not have enough funds in your account to complete the transaction;
2. If the transaction requested would exceed the credit limit on your overdraft line;
3. If the funds in you account are subject to legal process;
4. If your “Access ID” or “Password” has been reported lost or stolen and your Iron Workers Internet Banking privileges have been suspended for security reasons;
5. If we have reason to believe that the requested transaction is unauthorized;
6. If the failure is due to an equipment or system breakdown which you knew about when you started the transaction;
7. If the failure was caused by an act of God, by a fire or other catastrophe, by an electrical or computer failure or by any other cause beyond our control, despite our having taken reasonable precautions;
8. If you attempt to complete a transaction using the Iron Workers Internet Banking Services which is not a permissible transaction; or,
9. If the transaction would exceed security limitations on the use of the Iron Workers Internet Banking Services.

In any case, we shall only be liable for actual proven damages if the failure to make the transaction resulted from a bona fide error despite our procedures to avoid such errors.

In case of errors or questions on your monthly statement including your Internet Banking Transactions

If you think your statement is wrong or if you need more information about a transaction listed on the statement, contact us as soon as possible, remember, we must hear from you no later than sixty (60) days after we sent you the first statement on which the problem or error you are reporting appeared. When you contact us, you should provide us with the following information.

1. Tell us your name, account number and payee, if applicable;
2. Describe the error or the transaction about which you are unsure, and explain as clearly as you can why you believe it is an error or why you need more information; and
3. Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send your complaint or questions in writing within ten (10) business days.

After we receive your inquiry, we will determine whether an error or unauthorized transaction occurred within ten (10) business days. We will also correct the error or the unauthorized transaction. If we decide we need more time to investigate your complaint or question, however, we may take up to forty-five (45) days. If we decide to take the additional time, we will credit your account within 10 business days for the amount you think is the error so that you have the use of the money during the time it takes us to complete our investigation. If we have requested you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not credit your account.

We will tell you the results of our investigation within three (3) business days after its completion. If we decide there was no error or unauthorized transaction, we will send you a written explanation. You may ask for copies of the documents that we use in our investigation. If we have credited your account with funds while investigating an error, you must repay those funds to us if we conclude an error has not occurred.