www.framinghambank.com

BUSINESS ACCOUNT DISCLOSURES

Table of Contents

Commercial Funds Availability…………………………………………………………...1

Commercial Account Agreement…………………………………………………………2

Examining Your Statement………………………………………………………………..3

Check 21…………………………………………………………………………………..4

Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 Reg GG……………...5

Debit Businesscard Disclosure……………………………………………………………5

Privacy…………………………………………………………………………………...9

Online Banking Agreement and Electronic Funds Transfer Disclosure…………………10

Overdraft Privilege……………………………………………………………………….18

Commercial Funds Availability

I. Your Ability to Withdraw Funds

Typically, our policy is to make funds from your deposits available to you on the following business day after the day of your deposit. However, the first $200 of your deposits will be immediately available on the first business day. Electronic direct deposits will 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.

For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit 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 on a day we are not open, we will consider that the deposit was made on the next business day we are open.

II. Exception Delays for Certain Specified Reasons

In addition, funds you deposit by check may be delayed for a longer period under the following circumstance:

• 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 6 months.
• There is an emergency, such as failure of computer or communications equipments.
• You deposit a double endorsed check.

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 5^th business day after the day of your deposit.

III. 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 $5,000 of a days total deposits of cashier’s, certified, teller’s, traveler’s and federal, state and local government, Federal Home Loan bank checks and U.S. Postal Money Orders may 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 $5,000 will be available on the 5^th 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 5^th business day after the day of your deposit.

Deposits Made at Automated Teller Machines

If you are depositing funds (cash or checks) at an automated teller machine (ATM), the funds from your deposit will typically be made available on the following business day. All deposits are subject to review. Please refer to section I, II and III if applicable.

Commercial Account Agreement

1. Right of Set-Off

If you have any debts due to us or amounts you owe us, then the Bank reserves the right of set-off, or to use funds in your deposit account to pay any debts or amounts you owe us, even if withdrawal results in an interest penalty or dishonor of subsequent checks. For joint accounts, we may exercise our rights against the entire balance to pay the individual debts of any one owner of the account. You and your joint account owners agree that the Bank may use the funds in your individual or joint accounts to satisfy obligations of the joint account. Any garnishment or other levy against your account(s) is subject to the Bank’s right to set-off and any security interest that Bank may have. To the extent not prohibited by the law, the Bank may exercise its right of set-off against any deposit regardless of its source, including deposits of social security, disability or other governmental benefits normally protected from creditors’ claims, and you expressly acknowledge and agree that such set-off is permissible and to waive your rights to such protections.

2. Expense Reimbursement

If you fail to pay any amount owed to us, then you will be liable to pay any expenses reasonably incurred by the Bank, including attorney’s fees, in seeking payment of the amount owed.

You also agree to be liable to the Bank for any loss, costs, or expenses, including, without limitation, administrative costs of responding to an attachment, garnishment or other levy, and reasonable attorney’s fees. This involves any fees that the Bank incurs as a result of any dispute involving your account, that causes the Bank, in good faith, to seek legal counsel. In addition, you authorize us to deduct any such loss, costs, or expenses from your account without notifying you. This obligation applies to disputes between you and the Bank involving your account and situations where the Bank becomes involved in disputes between you and an authorized signer, another joint owner, or a third party claiming an interest in the account.

3. Evidence of Transactions

If we institute legal action against you in connection with your account, we may introduce into evidence a copy, microfilm, or microfiche of any document evidencing a transaction under this Agreement and such copy, microfilm, or microfiche shall be deemed as valid as the original document.

4. Choice of Law and Choice of Venue

This Agreement, as well as the parties’ rights and obligations hereunder, shall be in all respects interpreted, enforced, and governed by and under the laws of the United States and the Commonwealth of Massachusetts. Any lawsuit between the Bank and you, arising under this Agreement or otherwise, shall be brought in a court located within the Commonwealth of Massachusetts.

5. Notices

Any notice sent by us shall be effective when mailed to you, unless otherwise noted, at your last address on record with us. To the extent allowed by law, notices from you to us must be in writing and shall be effective when received by us, unless otherwise noted.

6. Waiver of Rights by the Bank

We reserve the right to waive the enforcement of any of the terms of this Agreement with you with respect to any transaction or series of transactions. Any such waiver will not affect our right to enforce any of our rights with respect to other customers, or to enforce any of our rights with respect to future transactions with you. Please note that any waiver is not sufficient to modify the terms and conditions of this or any other agreement.

7. 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 for which Fedwire is used, and you identify by name and number a beneficiary financial institution, an intermediary financial institution or 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, 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. If we receive a credit to 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.

8. Amendment

We reserve the right to modify or amend this Agreement at any time, and we will notify you prior to any such changes that would adversely affect your account, as required by law. Any waiver of an Agreement term, or customer accommodation that is inconsistent with the terms of this Agreement, shall be deemed an amendment to this Agreement, and the terms of this Agreement shall remain in full force and effect.

Examining Your Statement

To ensure your account information is accurate, we ask that you promptly review your account statements. In the event that you discover the existence of unauthorized signatures, alterations, or other transactions or charges, you must notify us within 30 days of receipt of the statement. Your failure to do so may result in your having to bear some or all of the loss with respect to the items contained in the statement.

Check 21

Commonly referred to as “Check 21,” the Check Clearing for the 21^st Century Act is a new federal law designed to streamline check processing between financial institutions. The biggest impact for our customers is the introduction of “substitute checks,” a new legal document.

As you read about substitute checks, please keep in mind that we do not send any check information electronically. If you do receive a substitute check, it means your check was converted to an image elsewhere, and we received that image as a substitute check. If we receive a substitute check drawn on your account, we treat it just like a paper check.

Below is important information about your rights regarding substitute checks. If you have any questions, please visit one of our offices, or call (508) 820-4000 to speak with a customer service representative.

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 your 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 laws with respect to those transactions.

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 from 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 are also entitled to the 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 the 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.

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 (508) 820-4000. You must contact us within 40 calendar days of the date that we mailed (or otherwise delivered by 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 are 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: check number, name of the person to whom you wrote the check, amount of the check, and the date of the check. After receiving your claim, we will investigate the matter and get back to you. If warranted, we will recredit your account.

Because of the anticipated decrease in the time it will take for checks to clear, it is more important than ever that, when writing a check, you are sure there is enough money in your account to cover it.

Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 Reg GG

The UIGEA, signed into law in 2006, prohibits any person engaged in the business of betting or wagering (as defined in the Act) from knowingly accepting payments in connection with the participation of another person in unlawful internet gambling. The Dept of Treasury and the Federal Reserve Board have issued a joint final rule, Regulation GG, to implement this Act.

As defined in Regulation GG, unlawful Internet gambling means to “place, receive or otherwise knowingly transmit a bet or wager by any means which involves the use, at least in part, of the internet where such bet or wager is unlawful under any applicable Federal or State law in the State or Tribal lands in which the bet or wager is initiated, received or otherwise made”.

As a customer of the Framingham Co-operative Bank, these restricted transactions are prohibited from being processed through your account or banking relationship with us. If you do engage in an Internet gambling business and open a new account with us, we will ask that you provide evidence of your legal capacity to do so.

Debit Businesscard Disclosure

DEBIT BUSINESSCARD AGREEMENT

TERMS AND CONDITIONS

Introduction

This Debit BusinessCard Agreement (“Agreement”) contains contract terms and other important information relating to your Debit BusinessCard (“Card”). These terms govern the operation of this account unless varied or supplemented in writing. This Agreement also incorporates any other terms and conditions provided separately with your deposit account agreement as well as the terms of any disclosures you may have received. You should read this Agreement carefully and keep a copy for your records.

Applicable Law

This Agreement will be governed by the laws of Massachusetts as well as the federal laws and regulations. Normal banking customs and practices also apply.

Definitions

Unless inconsistent, words and phrases used in this document shall be construed so that the singular includes the plural and that the plural includes the singular. The words “we”, “our” and “us” refer to Framingham Co-operative Bank. The words “you” and “your” refer to the owner of the specific account for which Card transactions are permitted. The word “Cardholder” refers to any person authorized by you to use the Card.

Business Card Purpose

You and any Cardholder agree that this Card is for use by business owners and authorized signers. The Card can be used for business purpose point-of-sale and Automated Teller Machine (ATM) transactions only. The Card may not be used for personal purposes. You acknowledge and understand that the Card shall not be treated as a consumer card under the provisions of state and federal law. You agree to provide written instructions to all Cardholders that the Card shall not be used for consumer purposes.

Account Requirement, Payment Responsibility, Transferability, Enforceability

The services described in this Agreement will be available to you only as long as you maintain a business checking account with us. You are liable for the payment of Card transactions authorized by you or your agent or any Cardholder or their agent. This account may not be transferred or assigned.

If any terms of this Agreement cannot be legally enforced, it will be considered changed to the extent necessary to comply with applicable laws. If any part of this Agreement becomes unenforceable, it will not make any other part unenforceable.

How to Use the Business Card, Security Procedure

The Card allows Cardholders to directly access the business checking account specified in your Card Application. We will issue Cards and codes to you at your request. Each Card will identify your business as well as the Cardholder. Each Cardholder must sign their Card before it may be used. As a security procedure, you agree to require both a Card and a code to be used together to obtain cash at designated ATMs. Because your Card may be used at a MasterCard® merchant without a code, as a security feature you cannot use this card until it is activated at an ATM terminal.

Once a Card has been issued it cannot be transferred to another person. You agree to immediately notify us when you terminate a Cardholder’s rights and to promptly return the Card to us.

Termination and Amendments

• We may terminate this Agreement by written notice to you.

• You may terminate this Agreement by written notice to us.

We may make amendments to this Agreement in the same method as provided in the terms and conditions provided in your account agreement. Use of your Card after receipt of notice of an amendment constitutes your acceptance of the change.

Notices.

Any notices mailed to you under this Agreement will be mailed to the address we have for you in our records. You will keep us notified of your current mailing address.

Order of Payment

Our policy is to post and pay Card transactions in the order they are received. We reserve the right to pay Card transactions before checks and other items.

Overdraft Protection

If your account has an overdraft protection line of credit feature, unless otherwise agreed in writing, Card transactions that would otherwise overdraw your account will be covered by the overdraft protection line of credit feature.

Stop Payment

You may not stop payment of Card transactions; therefore, you should not employ electronic access for purchases or services unless you are satisfied that you will not need to stop payment of the transfer.

TYPES OF AVAILABLE TRANSFERS AND LIMITS ON TRANSFERS

You may use your Card and code at any Cirrus® or NYCE® terminal to:

• Check the balance in your designated accounts.

• Make withdrawals from your designated accounts.

• Make deposits or loan payments by depositing cash, check or money order along with a deposit ticket or payment coupon (only available at certain Framingham

Co-operative Bank terminals).

• Make transfers to and from your designated accounts.

• Conduct other transactions as we add services and features.

Some of these services may not be available at all terminals. You also may have chosen limited access by electronic means to one or more of your accounts.

You may pay for purchases wherever Debit MasterCard® is accepted using your Debit BusinessCard.

Limitations on Dollar Amounts of Transactions. You may use your card at Automated Teller Machines or at Point-Of-Sale (POS) terminals to withdraw cash or purchase goods up to a maximum of $510 per 24-hour period, per card as long as your available balance exceeds this limit.

You may also choose to have a limit lower that $510, you need only inform us.

You may use your Debit BusinessCard to make purchases up to $1,000 per day in addition to the ATM/POS limit listed above. Some cards may have lower limits assigned by us, due to account experience.

Our business days are Monday through Friday except holidays. Deposits and payments received through an ATM on a Sunday or federal holiday will be considered received and will be posted on the next business day.

CHARGES FOR ACCOUNTS, TRANSFERS, ACCOUNT MAINTENANCE AND OTHER ASSOCIATED CHARGES

Service charges for using your Debit BusinessCard at any of our Automated Teller Machines will follow the same schedule of charges associated with all Framingham Co-operative Bank accounts. Additional charges per transaction may apply. A complete listing of all current account charges will be made available to you upon request.

1. Charges For Transfers By Means Of Your Card. For transaction withdrawals, transfers and balance inquiries made at any Electronic Banking Terminal, the following charges may be imposed per transaction:

Framingham Co-operative Bank Terminal $0.00

Any other Terminal $0.50

Non-signature Point-Of-Sale (POS)

transaction $0.50

Notice Regarding ATM Fees by Others: If you use an Automated Teller Machine that is not operated by us, you may be charged a fee by the operator of the machine and/or by an automated transfer network.

2. Charge For Replacing Cards. The Bank will charge a fee of $5 for each card that must be replaced due to its being lost, stolen, destroyed or otherwise deemed unusable.

Non-Sufficient Funds (NSF) per item $29.00

Uncollected Funds (UCF) per item $29.00

PROCESSING OF INTERNATIONAL TRANSACTIONS

Purchases, cash withdrawals and cash advances made in foreign countries will be debited from your account in U.S. dollars. The exchange rate between the transaction currency and the billing currency used for processing international transactions is a rate selected by MasterCard from a range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate MasterCard itself receives, or the government mandated rate in effect for the applicable central processing date. The exchange rate used on the processing date may differ from the rate that would have been used on the purchase date or cardholder statement posting date.

A fee of 1% of the transaction amount posted to your account will be imposed on all foreign transactions, including purchases, cash withdrawals, cash advances and credits to your account. A foreign transaction is any transaction that you complete or a merchant completes on your card outside of the U.S., Puerto Rico or the U.S. Virgin Islands.

A devaluation of the U.S. dollar against the foreign currency in which the transaction was made will result in a higher than expected dollar amount charged to your account. This currency differential, along with any transaction fee for the foreign exchange could result in your account becoming overdrawn.

DOCUMENTATION

Terminal Transfers. You can get a receipt at the time you make any transfer to or from your account using one of our ATM terminals.

Retain Copies for Your Records. You should retain copies of all records including receipts, credit slips (for returned merchandise), and cancellation numbers (for cancelled reservations). You should also mark each transaction in your account record. You should review your periodic statement for accuracy and compare your account records against your periodic statement to reconcile balances.

Periodic Statements. You will get a monthly account statement from us for your checking account that will also include a record of transactions made using your Card.

LIMITATIONS ON OUR LIABILITY

We will not be liable if:

• You do not have enough money in your account to make the transfer.

• You have an overdraft line and the transfer would cause you to exceed your credit limit.

• An ATM does not have sufficient cash.

• A terminal or system is not working properly.

• Circumstances beyond our control (such as fire or flood) prevent the transfer.

• A merchant refuses to accept your Card.

• An ATM rejects your Card.

There may be other limitations on our liability.

UNAUTHORIZED TRANSFERS

Additional Risks Associated with Use of Business Purpose Cards. You will not have the benefit of any consumer law limiting liability with respect to the unauthorized use of your Card. This means your liability for the unauthorized use of your Card could be greater than the liability in a consumer debit card transaction. You accept and agree to undertake the additional risk and greater measure of liability associated with the use of business purpose cards as described in this Agreement.

Your Liability for Unauthorized Transfers. You are liable for Card transactions you do not authorize if we can prove that we processed the transaction in good faith and in compliance with a commercially reasonable security procedure to which we both agreed, unless otherwise required by law.

Tell us AT ONCE if you believe your Card and/or code has been lost or stolen. 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 your Card and/or code is lost, stolen, or used without your permission, you agree to notify us immediately and to promptly confirm such notice in writing. Your liability for transactions with your Card and/or code will continue until 2 business days after the day we receive such written notice. If you do not notify us within 60 days from when the periodic statement containing an unauthorized transaction was first mailed or made available to you, we will be entitled to treat the information in the periodic statement as correct, and you will be precluded from asserting otherwise.

Contact in Event of Unauthorized Transfer. If you believe your Card and/or code has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call or write us at the telephone number or address listed in this brochure.

Consequential Damages. We will not be liable for any consequential or incidental damages resulting from the unauthorized use of your Card.

ERROR RESOLUTION

You agree to examine your receipts and periodic statements using ordinary care and to report any errors or problems to us within a reasonable time. You agree that the time to examine your statement and report to us will depend on the circumstances, but will not, in any circumstances, exceed a total of 60 days from when the statement containing the error or problem was first mailed or made available to you. If you do not report within 60 days, we will be entitled to treat such information as correct and you will be precluded from asserting otherwise. You further agree that if you fail to report to us within 30 days from when the statement was first mailed or made available to you that we will not be required to pay interest on any refund to which you may be entitled. We will only recredit your account for errors or problems as required by law.

Call or write us immediately with errors or questions about your electronic transfers at the telephone number or address listed in this brochure. If you tell us orally, we may require your complaint or question in writing within 10 business days.

If you provide us with timely notice of an error or problem in your periodic statement, we will investigate the matter and notify you of the results as soon as reasonably possible under the circumstances.

You may ask for copies of the documents that we used in our investigation.

Framingham Co-operative Bank

828 CONCORD STREET

FRAMINGHAM, MA

Business Days: Monday - Friday

Excluding Federal Holidays

(508) 820-4000

Privacy

At Framingham Co-operative Bank, we are committed to providing you with financial products and services to meet your needs. The safekeeping of personal information, and the accuracy of that information, is critical to our relationship with you.

The customer information that you provide to us is used to deliver more effective and efficient service. Sharing information internally or with our business partners enables us to better understand our customers’ financial needs. It is also necessary to deliver basic conveniences, such as ATM access.

We want you to be aware of our policies with respect to the disclosure of nonpublic personal information about you that we have collected from you or others in connection with the financial products and services that we provide to you.

We recognize that the confidentiality of this information is extremely important to you and we hope that the information in this notice will assure you that we keep this information confidential as described herein.

We collect nonpublic personal information about you from the following sources:

1. Information we receive from you on application or other forms,
2. Information concerning your transaction with us or others, and
3. Information we receive from any consumer reporting agency.

We will not disclose any nonpublic personal information about you while you are our customer or thereafter, except (1) as required or permitted by law and (2) to non-affiliated third parties that perform marketing service on our behalf or to other financial institutions with whom we have a joint marketing agreement (which prohibits further disclosures by such non-affiliated third parties except in accordance with the law).

The information that we will share with such non-affiliated third parties includes the following:

1. Information we receive from you on applications or other forms, such as your name address, social security number, assets and income;
2. Information about your transactions with us or others, such as your account balance, transaction history, and the like.

Non-affiliated third parties and financial institutions to whom we may disclose your nonpublic personal information include the following types of third parties: insurance companies, investment advisors, and the like.

We restrict access to nonpublic personal information about you to those of our employees who need to know that information in order to provide financial products or services to you. We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard your nonpublic personal information.

We are available to answer any questions which you may have concerning our policies with respect to your nonpublic personal information. You may call our Customer Service Representative at (508) 820-4000.

Online Banking Agreement and Electronic Funds Transfer Disclosure

Online Banking Agreement

This Agreement and Disclosure contains the terms and conditions of Online Banking, the Internet banking service of Framingham Co-operative Bank, the disclosures required by Electronic Funds Transfer Act and additional information required by Massachusetts law. By using Online Banking, you indicate your agreement to the terms and conditions of Online Banking. Online Banking is a consumer electronic banking service that allows you to access your account information, check balances, transfer funds and, if you elect to register for the additional service (and are approved), to pay bills. You may access Online Banking using a personal computer through Framingham Co-operative Bank’s web page on the Internet. Our internet address is http://www.framinghambank.com/. For the purpose of this document, “you” and “your” shall refer to each depositor who signs up for Online Banking. “We”, “us”, “our”, and “Bank” shall refer to the Framingham Co-operative Bank. All references to the time of day in this agreement and disclosure refer to Eastern Standard Time.

General Information about Online Banking

You may use Online Banking any time, day or night, seven days a week. Online Banking, however, may occasionally be temporarily unavailable due to Bank record updating or technical problems. In addition, access to Online Banking is made available according to the terms of a service agreement between the Bank and Intuit financial Services. Intuit Financial Services created and owns software that makes Online Banking possible. Any interruption of service or access caused by Intuit Financial Services may prevent your use of Online Banking.

Services Available through Online Banking

Online Banking service allows you to:

· Transfer funds electronically between certain Framingham Co-operative Bank accounts.

· Schedule recurring transfers.

· Set up notifications for balances and certificates of deposits.

· Arrange reminders for loan payments.

· Utilize a personal reminder notification.

· Obtain account information and view checks online.

· See if a check has cleared.

· View online statements (eStatements).

· Export data to some versions of personal financial management packages such as Quicken, QuickBooks, and Microsoft Money.

Additional services within online banking that have their own Terms and Conditions to be accepted are:

· Text Message Banking

· Interbank Transfers

· POP Money

· eStatements

General Information about Online Banking Bill Payment

You may use Online Banking Bill Payment any time, day or night, seven days a week. Online Banking Bill Payment, however, may occasionally be temporarily unavailable due to technical problems. In addition, access to Online Banking Bill Payment service is made available according to the terms of a third party service agreement among Framingham Co-operative Bank, Intuit Financial Services and FIS. FIS processes all Bill Payment transactions. Any interruption of service or access caused by Intuit Financial Services or FIS may prevent your use of Online Banking Bill Payment.

Online Banking Bill Payment service allows you to:

· Access your primary checking account to pay most bills.

· Cancel or modify Future and Recurring Bill Payments.

Note: your ability to cancel payments is limited; see Canceling Online Banking Bill Payments below.

· Export Bill Payment data to some versions of personal financial management packages such as Quicken, QuickBooks, and Microsoft Money.

Equipment and Technical Requirements

To use Online Banking, you must have Internet access through an Internet Service Provider (ISP) and Internet browser software. The Bank does not make any warranties on equipment, hardware, software or ISP Service, or any part of them, expressed or implied, including, without limitation, warranties of merchantability or fitness for a particular purpose. The Bank is not responsible for any loss, injury or damages, whether direct, indirect, special or consequential, caused by the Internet Provider, any related software, Online Banking or the use of any of them or arising in any way out of the installation, use or maintenance of your personal computer hardware, software or other equipment.

Access

If two or more depositors are joint owners of the account accessed by Online Banking, each may have access to the account through Online Banking. When your Online Banking is linked to one or more joint accounts, we may act on the verbal, written, or electronic instructions of any authorized signer regarding your service for those accounts. Each person on a joint account will be liable for all transactions that are made on that account by all other joint account holders of that account. It is your responsibility to notify us if a signer should no longer be given access to the joint account through Online Banking. Notices sent to the address of one account holder are binding on all account holders.

We recommend that you print or store a copy of this Agreement for your records. You may also review this Agreement from time to time, and at your convenience on our website at www.framinghambank.com. If you are unable to print or store a copy of this Agreement or if you experience a computer or printer malfunctions, please call us and we will mail you a paper copy of this Agreement.

Email Use

We may, if you use any of the notification or alerts offered within any of the Online Banking services, send account information to the email address(es) you designate. Sensitive information such as account numbers will be only partially shown (masked). Other than these notices, we will not send to you, and we strongly suggest that you do not send to us, any confidential information regarding your accounts via the public Internet, as it is not necessarily secure.

We may, if you are have multiple bad logins or are locked out, email you at your designed email address, alerting you regarding the condition of your login status.

We will not send you email requesting confidential information such as account numbers, PINs, or passwords. If you receive such an email purportedly from us, do not respond to the email and notify us by calling (508) 820-4000.

Agreement and Acknowledgment

By using Online Banking or authorizing others to use Online Banking, you acknowledge that you have received and understand the terms of this Agreement and agree to be bound by the provisions of this Agreement and by the agreements incorporated herein by reference that also govern your account with us. These Agreements may be amended from time to time and notice of such changes will be provided to you by us as may be required by Applicable Law.

Business Day

Framingham Co-operative Bank’s Customer Service can be reached during normal business hours, Monday through Friday. Holidays are not included.

Transaction Procedures

Bill Payments: When you initiate a Bill Payment transaction, sufficient funds must be available in the account at the time you initiate the transaction. In the case of future or recurring payments, sufficient funds must be available in your account on those designated dates. The funds will not be withdrawn from your account until those dates.

All Bill Payments you make through Online Banking will be deducted from your designated checking account. Your payees must all be located within the United States and accept payment in U.S. dollars. Each payee must appear on the payee list you create, and the bill you are paying must be in your name. You may not use Online Banking to make payments to federal, state, or local governments. Some other categories of payees may also be restricted.

Some Bill Payments may be delivered electronically to your payee within three business days of the scheduled “Processing Date.” Some payees, however, are not set up to accept electronic payment. In these cases, a check will be sent, which may take up to ten business days to process and deliver to the payee.

You must allow sufficient time, up to ten business days to process the Bill Payments so that the funds can be delivered to the payee before the payment due date. If you do not allow sufficient time, you will be responsible for all late fees, finance charges or other actions taken by the payee. Framingham Co-operative Bank is not liable in any way for damages you incur if you do not have sufficient funds in your account to make the payment, if you do not allow sufficient time for delivery to the payee or if there have been delays in mail delivery, changes of merchant address or account number, the failure of any payment in a timely manner or for any other circumstances beyond the control of Framingham Co-operative Bank. In all cases, you are responsible for either making alternate arrangements for the payment or rescheduling the payment through Online Banking. We will not automatically resubmit a payment for you after the funds have become available.

Internal Account Transfers

You may transfer funds only from your checking account to a Framingham Co-operative Bank statement savings account or passbook savings account; from a statement savings account to another statement savings account, to a passbook savings account or to a checking account. You may make transfers from your checking or statement savings accounts to certain Framingham Co-operative Bank loan accounts. These transfers will be processed as loan payments according to the terms of the individual loan account affected. You may not transfer from a passbook savings account online. For Money Market Accounts and Statement Savings Accounts, you may not make more than six transfers from your account each statement period whether to accounts you maintain with us or to third parties. You cannot make transfers from or to Certificates of Deposit. All Bill Payments and Transfers are subject to the terms and conditions of the deposit account being accessed. All transfers are made on collected funds only.

Please note that not all account types are eligible for all types of transfers.

One Time Transfers

When transferring funds between two Framingham Co-operative Bank statement accounts between the hours of 6am and 8pm on a business day, the funds should be available immediately. If the transfer takes place after 8pm, the funds will not be available until the next business day. Sufficient funds must be collected and available for the transfer to occur.

Scheduled and Recurring Transfers

When scheduling a recurring transfer, the transfer takes place at 4am on the business day that the transfer was scheduled to occur. If the date of transfer is not a business day, the transfer will occur on the next business day. Sufficient funds must be collected and available for the transfer to occur.

Notifications

When requesting notifications, note that the information is valid as of 4am the day you receive the information. If requesting a Balance Greater Than or a Balance Lesser Than notification, you will not receive a notification if the amount is equal to the amount chosen.

Mobile Banking

Mobile Banking is an included service in Framingham Co-operative Bank’s Online Banking product. It is accessed by logging on to www.framinghambank.com on an internet enabled cell phone or tablet device. The same user name, password, and challenge questions are required to gain access to internet banking. Customers can view account balances, see account histories, transfer funds between Framingham Co-operative Bank accounts, and pay bills to existing payees.

Text Message Banking

Text Message Banking is a service available for Online Banking customers. The cell phone number must be registered within an online banking session. Two cell phone numbers per customer are permitted. The customer may deactivate either or both cell phone numbers at any time. Once a cell phone number is registered only one primary account is selected for balance inquiries, however balance information about accounts that are on online banking is available by texting a short message to 454545. The messages are BAL, LAST 5, BAL ALL, BAL CHK, BAL SAV, STOP, and HELP. Transfers from the preselected source account to the preselected primary account can be conducted by texting the short message TRANS and the dollar amount. Standard text messaging rates apply. Check with your provider.

Canceling or Modifying Online Banking Bill Payment

Payments can be canceled or modified only when they are found on the Pending Payment screen. You should not, therefore, employ Online Banking Bill Payment service for payment of purchases or services unless you are satisfied that you will not need to stop a payment.

Authorization to Charge Accounts

You authorize Framingham Co-operative Bank to debit the accounts you designate for all Online Banking transactions, including the amount of any Bill Payment or Transfer that you make plus any charges for that service. You authorize us to process Bill Payments and to transfer the funds according to your instructions. It is the responsibility of the End User to be certain that the Payee Address and Account Number are correct when scheduling a payment.

You also authorize Metavante to make those Bill Payments required by check even though you have not signed the check used to make the payment.

Account Information

You may check the balances of Framingham Co-operative Bank accounts that are accessed by Online Banking.

Other Fees

Monthly Service Fee: We may charge you a monthly service fee for use of Online Banking Bill Payment. Refer to our regularly published Fee Schedule for the applicable fees which you may be charged. We will automatically deduct any Bill Payment fees from your designated checking account beginning 30 days from the date of application, unless a different date is agreed to. We will continue to charge your account monthly on the same day (or the next business day if the due date falls on a weekend or holiday) until the service is discontinued.

Transaction Fees

The amount of transaction and other fees is listed in Framingham Co-operative Bank’s Fee Schedule. The Bank’s schedule of fees is available at all branches or may be requested by phone. Please refer to the most recent Fee Schedule and Truth in Savings Disclosure you were provided for important information regarding minimum balances and rates of interest paid. The Fee Schedule and Truth in Savings Disclosure is available at all branch locations and may be requested by phone.

Security Procedures

You must enter your Online Banking User ID and Password at the start of each Online Banking session. You will enter a Password to gain access to your account information. Your Password is confidential and you are responsible for keeping it confidential. You agree not to disclose or otherwise make your Password available to anyone not authorized to withdraw funds from your account. Online Banking software employs sophisticated encryption to ensure the secure transmission of data. To further insure that Online Banking transactions are kept confidential, Online Banking security system meets the requirements of the American National Standards Institute for Password security. By using Online Banking, you agree with us that Online Banking security procedures are commercially reasonable and sufficient to insure that Bill Payment and Transfer instructions or other communication we receive from you have in fact, been made by you. To determine this, you must consider the size, type and frequency of Bill Payments, transfers or other communications that you anticipate making. In short, by using Online Banking, you have determined Online Banking is secure for your purposes. If the size, type and frequency of your Bill Payments and transfers change, and because of these changes you determine that Online Banking security procedures cease to be commercially reasonable and sufficient, you must inform the Bank of this immediately. Such a determination necessarily means that you will no longer use Online Banking for any purposes. If you wish to learn more about Online Banking security, please ask us.

Documentation and Verification of Payments’ Confirmation Numbers

Upon completion of a Bill Payment using Online Banking, you will be given a confirmation number. You should record this number, along with the payee, scheduled date and transaction amount in your checkbook register (or other permanent record), because this will help in resolving any problems that may occur. No printed receipts are issued through Online Banking.

Periodic Statements

Information concerning Online Banking transactions will be shown on your regular monthly statement for the account to and from which transfers or payments are made.

We will deliver to you a statement of your account periodically. You must examine your statement promptly. If you discover or should have discovered any unauthorized withdrawal from funds in your account(s), you must immediately notify us of your discovery and provide us with all information necessary for us to determine whether the withdrawal was unauthorized. To the extent that you do not promptly notify us of any such unauthorized withdrawal, you may be liable for any loss, which is thereafter sustained which we could have prevented had you promptly notified us of the unauthorized withdrawal. You agree that you will not have acted promptly if you fail to examine your statement and report any unauthorized withdrawal to us within 60 calendar days of the date that the statement was sent to you or made available for your examination.

You agree that if you fail to provide notice to us of any unauthorized signature, alteration, forgery, or other error with respect to your account within 60 days of when we sent you the statement or made the statement available to you, you will not be able to assert a claim against us with respect to any item(s) reflected in such statement.

FinanceWorks & Purchase Rewards Offers Agreement In addition to the above content, if you decide to use either FinanceWorks or the Purchase Rewards Offers application, you acknowledge and agree to the following terms and conditions of service.

License Grant and Restrictions

You are granted a personal, limited, non-exclusive, non-transferable license, to electronically access and use the FinanceWorks Service (the “Service”) solely to manage your financial data, and the purchase rewards application (“Purchase Rewards Offers”) to benefit from your debit card purchases.

In addition to the FinanceWorks Service and the Purchase Rewards Offers, the terms "Service" and “Purchase Rewards Offers” also include any other programs, tools, internet-based services, components and any "updates" (for example, Service maintenance, Purchase Rewards information, help content, bug fixes, or maintenance releases, etc.) of the Service or Purchase Rewards Offers if and when they are made available to you by us or by our third party vendors. Certain Service and Purchase Rewards Offers may be accompanied by, and will be subject to, additional terms and conditions.

You are not licensed or permitted to do any of the following and you may not allow any third party to do any of the following: (i) access or attempt to access any other systems, programs or data that are not made available for public use; (ii) copy, reproduce, republish, upload, post, transmit, resell or distribute in any way the material from the FinanceWorks site or from the Purchase Rewards Offers program; (iii) permit any third party to benefit from the use or functionality of the Service or Purchase Rewards Offers, or any other services provided in connection with them, via a rental, lease, timesharing, service bureau, or other arrangement; (iv) transfer any of the rights granted to you under this license; (v) work around any technical limitations in the Service, use any tool to enable features or functionalities that are otherwise disabled in the Service, or decompile, disassemble, or otherwise reverse engineer the Service except as otherwise permitted by applicable law; (vi) perform or attempt to perform any actions that would interfere with the proper working of the Service or Purchase Rewards Offers or any services provided in connection with them, prevent access to or the use of the Service, Purchase Rewards Offers or any or services provided in connection with them by other licensees or customers, or impose an unreasonable or disproportionately large load on the infrastructure while using the Service; or (vii) otherwise use the Service, Purchase Rewards Offers or any services provided in connection with them except as expressly allowed under this Section 1.

Ownership

The Service and Purchase Rewards Offers are protected by copyright, trade secret and other intellectual property laws. You do not have any rights to the trademarks or service marks.

Your Information and Account Data with Us

You are responsible for (i) maintaining the confidentiality and security of your access number(s), password(s), security question(s) and answer(s), account number(s), login information, and any other security or access information, used by you to access the Service, Purchase Rewards Offers or any services provided in connection with them, and your accounts with us (collectively, "Licensee Access Information"), and (ii) preventing unauthorized access to or use of the information, files or data that you store or use in or with the Service, Purchase Rewards Offers or any services provided in connection with them (collectively, "Account Data"). You are responsible for providing access and assigning passwords to other users, if any, under your account for the Service, Purchase Rewards Offers or any services provided in connection with them, and ensuring that such authorized users comply with this Agreement. You will be responsible for all electronic communications, including account registration and other account holder information, email and financial, accounting and other data ("Communications") entered using the Licensee Access Information. It is assumed that any Communications received through use of the Licensee Access Information were sent or authorized by you. You agree to immediately notify us if you become aware of any loss, theft or unauthorized use of any Licensee Access Information. We reserve the right to deny you access to the Service, Purchase Rewards Offers or any services provided in connection with them (or any part thereof) if we reasonably believe that any loss, theft or unauthorized use of Licensee Access Information has occurred. You must inform us of, and hereby grant to us and our third party vendors permission to use, Licensee Access Information to enable us to provide the Service, Purchase Rewards Offers or any services provided in connection with them to you, including updating and maintaining Account Data, addressing errors or service interruptions, and to enhance the types of data and services we may provide to you in the future.

We may use anonymous, aggregate information, which we collect and store, or which is collected and stored on our behalf by third party vendors, to conduct certain analytical research and help us to create new offerings and services for our customers. As we make additional offerings and online banking services available to you, some of which may rely on banking information maintained in your accounts, you will have the opportunity to participate in the services if you choose. If you choose not to participate, you do not need to notify us. We may also use anonymous, aggregate information which we collect and store, or which is collected and stored on our behalf by third party vendors, to (i) conduct database marketing and marketing program execution activities; (ii) publish summary or aggregate results relating to metrics comprised of research data from time to time; and (iii) distribute or license such aggregated research data to third parties. Additionally, automated technology may be used to tailor messages or advertisements that best reflect your interest and needs.

Your Information and Account Data with Other Financial Institutions

Our financial management tools allow you to view accounts that you may have outside our financial institution (this is a process called “aggregation”). When you choose to use online financial services which are applicable to data that you have transacted with other financial institutions or card issuers, you are consenting to us accessing and aggregating your data from those outside financial institutions. That data includes your financial institution account access number(s), password(s), security question(s) and answer(s), account number(s), login information, and any other security or access information used to access your account(s) with other financial institutions, and the actual data in your account(s) with such financial institution(s) such as account balances, debits and deposits (collectively, "Financial Account Data"). In giving that consent, you are agreeing that we, or a third party vendor on our behalf, may use, copy and retain all non-personally identifiable information of yours for the following purposes: (i) as pertains to the use, function, or performance of the services which you have selected; (ii) as necessary or useful in helping us, or third parties on our behalf, to diagnose or correct errors, problems, or defects in the services you have selected; (iii) for measuring downloads, acceptance, or use of the services you have selected; (iv) for the security or protection of the services you have selected; (v) for the evaluation, introduction, implementation, or testing of the services you have selected, or their upgrade, improvement or enhancement; (vi) to assist us in performing our obligations to you in providing the services you have selected.

If we make additional online financial services available to you which are applicable to data that you have transacted with other financial institutions or card issuers, and which we will aggregate at this site, we will separately ask for your consent to collect and use that information to provide you with relevant offers and services. If you give us your consent, you will be agreeing to permit us to use Financial Account Data to help us suggest savings opportunities or additional products and services to you.

If you select services that are offered by third parties or merchants through such offers or on our behalf, you will be agreeing that we have your consent to give such third parties or merchants your geographic location, and other data, collected and stored in aggregate, as necessary for such third parties or merchants to make their offerings and services available to you and to permit us to use Financial Account Data to help us suggest savings opportunities or additional products and services to you. Except as specified here, we and the third parties or merchants acting on our behalf shall not use or keep any of your personally identifiable information.

Use, Storage and Access

We shall have the right, in our sole discretion and with reasonable notice posted on the FinanceWorks site and/or sent to your email address provided in the Registration Data, to establish or change limits concerning use of the Service and any related services, temporarily or permanently, including but not limited to (i) the amount of storage space you have available through the Service at any time, and (ii) the number of times (and the maximum duration for which) you may access the Service in a given period of time. We reserve the right to make any such changes effective immediately to maintain the security of the system or Licensee Access Information or to comply with any laws or regulations, and to provide you with electronic or written notice within thirty (30) days after such change. You may reject changes by discontinuing use of the Service and any related services to which such changes relate. Your continued use of the Service or any related services will constitute your acceptance of and agreement to such changes. Maintenance of the Service or any related services may be performed from time-to-time resulting in interrupted service, delays or errors in such Service or related services. Attempts to provide prior notice of scheduled maintenance will be made, but we cannot guarantee that such notice will be provided.

Third Party Services

In connection with your use of the Service, Purchase Rewards Offers, or any other services provided in connection with them, you may be made aware of services, products, offers and promotions provided by third parties, ("Third Party Services"). If you decide to use Third Party Services, you are responsible for reviewing and understanding the terms and conditions governing any Third Party Services. You agree that the third party is responsible for the performance of the Third Party Services.

Third Party Websites

The Service may contain or reference links to websites operated by third parties ("Third Party Websites"). These links are provided as a convenience only. Such Third Party Websites are not under our control. We are not responsible for the content of any Third Party Website or any link contained in a Third Party Website. We do not review, approve, monitor, endorse, warrant, or make any representations with respect to Third Party Websites, and the inclusion of any link in the Service, Purchase Rewards Offers or any other services provided in connection with them is not and does not imply an affiliation, sponsorship, endorsement, approval, investigation, verification or monitoring by us of any information contained in any Third Party Website. In no event will we be responsible for the information contained in such Third Party Website or for your use of or inability to use such website. Access to any Third Party Website is at your own risk, and you acknowledge and understand that linked Third Party Websites may contain terms and privacy policies that are different from ours. We are not responsible for such provisions, and expressly disclaim any liability for them.

Export Restrictions

You acknowledge that the Service may contain or use software that is subject to the U.S. Export Administration Regulations (15 CFR, Chapter VII) and that you will comply with these regulations. You will not export or re-export the Service, directly or indirectly, to: (1) any countries that are subject to US export restrictions; (2) any end user who has been prohibited from participating in US export transactions by any federal agency of the US government; or (3) any end user who you know or have reason to know will utilize them in the design, development or production of nuclear, chemical or biological weapons. You further acknowledge that this product may include technical data subject to export and re-export restrictions imposed by US law.

Purchase Rewards Offers

If you decide you wish to participate in the Purchase Rewards Offers application, you acknowledge and agree to the following terms and conditions of service.

Purchase Rewards. You will earn rewards for your participation in the Purchase Rewards Offers program based on total purchases. If you participate in the Purchase Rewards Offers, we will credit all cash or point rewards earned to your rewards balance and send you a lump sum of all rewards due to you. For any qualifying purchases during the current month, we will distribute the lump sum amount to you during the following calendar month. For example, if the payment date of all rewards end user disbursements is August 30, the applicable Measurement Period would be the calendar month ended July 31. Cash rewards will be deposited in the Purchase Rewards Offers deposit account which is associated with the Purchase Rewards Offers program.

Purchase Rewards Offers Account. You must use the debit card associated with the Purchase Rewards Offers account in order to receive the offers which qualify for the rewards. Rewards will not be earned for any portion of your purchase that you pay for with store credit, gift certificates or other payment types.

Purchases must be made as indicated in the offers made available under the Purchase Rewards Offers program. Each offer will specify whether the purchase can be made online, at a store location, or by telephone to be eligible for rewards. You must also comply with any guidelines included with the offer, such as offer expiration dates, minimum purchase amounts, purchase limits, etc. You must also pay using the debit card associated with the account that received the Purchase Rewards offer in order for the purchase to qualify.

While we and the merchants work hard to properly track and credit all eligible purchases, there may be times that we are unable to do so because of problems with your internet browser, the merchant's web site or our system. Please contact our support team if you believe you have made a qualifying purchase for which you did not receive Rewards.

Please note that you will not earn rewards as part of this program if you use a debit card not issued by us or do not have the designated deposit account opened with us at the time of disbursement.

You understand and agree that we make no warranties and have no liability as to:

● Any offers, commitments, promotions, money back, or other incentives offered by any of the merchants in the Purchase Rewards Offers program.

● The rewards information that we provide to you, which is provided “as is” and “as available”.

● (i) your inability to comply with offer guidelines, (ii) the accuracy, timeliness, loss or corruption, or mis-delivery, of any qualifying purchase information or any other information, (iii) unauthorized access to your account(s) or to your account information and any misappropriation, or alteration, of your account information or data, to the extent that the unauthorized access results from your acts or omissions, or (iv) your inability to access your account(s) including, but not limited to, failure of electronic or mechanical equipment, interconnect problems with telephone providers or internet service providers, acts of God, strikes, or other labor problems.

● Some states do not allow limitations on how long an implied warranty lasts, so that the above limitations may not apply to you, and that you may also have other rights, which vary from state to state.

The following highlighted section DOES NOT apply to business accounts, as this portion relates only to consumer accounts.

THE FOLLOWING SECTION CONTAINS DISCLOSURES REQUIRED BY FEDERAL AND STATE REGULATION

Liability for Unauthorized Use

You will notify the Bank immediately if you believe that your Password has become known to an unauthorized person.

Notifying us by phone is the best way of keeping possible losses to a minimum.

If you believe that an unauthorized transfer or payment may have occurred, we may require you to sign an affidavit.

Notification of Unauthorized Transaction or a Lost or Stolen Access Device

If you believe your Password has become known by an unauthorized person or that someone has transferred money or made payments without your permission, immediately call Customer Service at (508) 820-4000.

Liability for Failure to Make Payments

If we do not send a Payment or make a Transfer on time or in the correct amount according to your instruction and in accordance with this Agreement and Disclosure, we will be liable for damages caused. However, there are some exceptions. We will not be liable, for instance, if:

· Through no fault of ours, your account does not contain sufficient funds to make the payment or transfer.

· The equipment, ATM network, phone lines, or computer systems were not working properly or were temporarily unavailable.

· Circumstance beyond our control, such as fire or flood, prevented the Payment or Transfer, despite reasonable precautions that we have taken.

· A court order or legal process prevents us from making a transfer or payment.

· You have previously reported or if we have a reasonable basis for believing that an unauthorized use of your Password, or designated account have occurred or may be occurring or if you default under any agreement with us or if you or the Bank terminates this Agreement.

· The payee does not process a payment correctly or in a timely manner.

· There may be other exceptions stated in our other agreements with you.

· If any of the circumstances listed immediately above occur, we will make a reasonable effort to take appropriate corrective action or to reprocess the transactions that may not have been completed or to correct transactions that have incorrectly been processed.

Electronic Funds Transfer Disclosure

In Case of Errors or Questions about Your Electronic Transfers

You should telephone Framingham Co-operative Bank Customer Service at (508) 820-4000 or write Framingham Co-operative Bank, Attention: Customer Service, 828 Concord Street, Framingham, MA 01701, as soon as you can, if you think a statement is wrong or if you need more information about a Bill Payment or Transfer listed on the statement.

We must hear from you no later than 60 days after we sent you the FIRST statement on which the problem or error appeared.

1. Tell us your name and account number.

2. Describe the error or 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 calendar 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 recredit your account within 10 calendar days for the amount you think is in error, so that you will have use of the money during the time it take us to complete our investigation. If we ask you to put your request in writing and we do not receive it within 10 business days, we may not recredit your account.

We will tell you the results within 3 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 on our investigation.

Other Problems

If you believe an error other than an electronic funds transfer problem has occurred concerning a deposit account, please call Customer Service at (508) 820-4000.

Account Information Disclosure

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

· When it is necessary for verifying or completing payments or tranfers, or resolving a problem relating to a payment or transfer;

· In order to verify the existence and the condition of your account for a third party, such as a credit bureau or merchant;

· In order to comply with government agencies or court orders;

· To any subsidiary or affiliate;

· To any employee or other auditor of Framingham Co-operative Bank solely for the purpose of an official audit, accounting, or to any other person for the purpose of servicing the account relationship, including preparation of the periodic statement of account, but only to the extent actually necessary;

· To any attorney or collection agent of the Bank;

· If you give us your written permission; or

· As otherwise permitted by law, or as required by government regulations.

Recurring Deposits

If you have arranged to have deposits made to a deposit account at least once every 60 days from the same person or company, you can find out whether or not the deposit has been made through Online Banking, by logging onto www.framinghambank.com, through Telephone Banking by calling 1-888-415-9901, or by calling Customer Service at 508-820-4000.

Other Conditions

You are responsible for complying with all terms of this Agreement and Disclosure and the regulations governing the deposit accounts which you access using Online Banking. We can terminate your Online Banking privileges without notice to you if you do not pay any fee required in this Agreement and Disclosure when due or if you do not comply with any of the other terms and conditions of this Agreement. You may terminate Online Banking by providing the Bank with written notice of your desire to do so.

Change in Terms

We will mail or deliver a written notice to you at least 30 days before the effective date of any change in a term or condition disclosed in this Agreement and Disclosure, if the change would result in increased fees or charges, increased liability for you, fewer types of available electronic fund transfers or stricter limitations on the frequency or dollar amounts of transfers, unless prior notice is excused by law.

Virus Protection

You agree that we are not responsible for any electronic virus that you may encounter using Online Banking. We encourage you to routinely scan your computer and diskettes using any reliable virus protection product to detect and remove any viruses found. Undetected or unrepaired, a virus may corrupt and destroy your programs, files, and even your hardware.

Additional Information Required by Massachusetts Law

Any documentation provided to you which indicates that an electronic funds transfer was made shall be admissible as evidence of the transfer and shall constitute prima facie proof that the transfer was made.

The initiation by you of certain electronic funds transfers from your account will, except as otherwise provided in our Electronic Funds Transfer Disclosure, effectively eliminate your ability to stop payment of the transfer.

UNLESS OTHERWISE PROVIDED IN OUR ELECTRONIC FUNDS TRANSFER DISCLOSURE, YOU MAY NOT STOP PAYMENT OF ELECTRONIC FUNDS TRANSFERS; THEREFORE, YOU SHOULD NOT EMPLOY ELECTRONIC ACCESS FOR PURCHASES OR SERVICES, UNLESS YOU ARE SATISFIED THAT YOU WILL NOT NEED TO STOP PAYMENT.

Protected Consumer Use of Electronic Funds Transfers

Chapter 167B of the Massachusetts General Laws was enacted to provide a means for financial institutions, businesses, and consumers to conduct their business relations more conveniently. Transferring funds electronically will supplement the use of checks, credit, and cash and will not replace these present methods of doing business. As a consumer, you should be aware of your rights if you choose to utilize electronic funds transfers.

Overdraft Privilege

It is Framingham Co-operative Bank’s (“we, us, or our”) policy to comply with applicable laws, rules and regulations, and to conduct business in accordance with strict 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 our applicable service charges and fees;

(E) The deposit of items to your account which, according to our Funds Availability Policy, are treated as not yet “available” or “finally paid”.

We are not obligated to pay any item initiated for payment against your account if your account does not contain sufficient collected funds.

Rather than automatically returning, unpaid, all non-sufficient funds items that you may have, if your eligible account has been open for at least thirty (30) days and you maintain your account in good standing thereafter, we will consider, without obligation on our part, approving your reasonable overdrafts up to your assigned Overdraft Privilege Limit, including our fees. Maintaining your account in good standing includes at least:

(A) Making deposits totaling $400 or more in your account within the first thirty (30) day period,

(B) You are not in default on any loan obligation to us,

(C) We reserve the right to require you to pay your outstanding overdraft (negative) balance, including our fees, immediately or on demand, and

(D) Your account is not the subject of any legal or administrative order or levy, such as bankruptcy or a tax lien.

This discretionary service will generally be limited to a $750 overdraft (negative) balance for eligible personal checking account types, or a $1,200 overdraft (negative) balance for eligible business checking account types.

Our normal fees and charges including, without limitation, our non-sufficient funds (NSF) or overdraft (OD) fees; currently up to $29.00 per item, as set forth in our fee schedule, will be charged for each transaction initiated for payment from your checking account that does not have sufficient collected funds.

Typically, we will charge our normal NSF/OD fee whether we approve an overdraft item for payment or return it unpaid. Our NSF/OD fees will be included in and count against your assigned Overdraft Privilege Limit of $750 or $1,200. Whether your overdrafts will be paid or not is at our sole discretion and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing as described above.

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 our fees.

■ Optional Overdraft Protection Service: We offer an additional overdraft protection service that links your Framingham Co-operative Bank Statement Savings Account to your Framingham Co-operative Bank Checking Account to cover an occasional overdraft item. If you apply and are approved for this optional service, you may save money on the total fees you pay us for overdraft protection services.

■ Account Limitations: This service is available only for eligible checking accounts that are maintained in good standing as defined above. We may, in our sole discretion, limit the number of your accounts eligible for Overdraft Privilege to one account per household and/or one account per taxpayer identification number.

■ Eligible Account Types: The account types that are eligible for Overdraft Privilege are: Direct Deposit Checking, No Minimum Balance Checking, Free Checking for Seniors, Interest Checking, Apex Checking, Free Checking, Advantage Interest Checking, Commercial Checking, Free Business Checking and Premier Business Checking accounts.

■ Transactions That May Cause or Create Overdrafts Using Your Overdraft Privilege Limit: NSF transactions initiated for payment against your checking account may be paid by us using your assigned Overdraft Privilege Limit, including our fees. Our NSF/OD fee may be imposed for paying, or not paying, overdrafts you create by checks, ACH, or in-person (teller) withdrawals. For all consumer accounts, ATM withdrawals and everyday debit card transactions require a customer to “Opt-In” to the service. Please contact a Customer Service Representative for more information about the Opt-In process for ATM and everyday debit card transactions.

If you have questions concerning the Overdraft Privilege Service, please visit one of our offices.

■ You May Always Opt-Out: You may choose at any time to not participate in Overdraft Privilege by notifying one of our Customer Service Representatives who will explain what this (“Opt-Out”) means, and the potential consequences, for you.

■ 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 us at (508) 820-4000.

■ Always a Discretionary Service: Our Overdraft Privilege Service does not constitute an actual or implied agreement between you and us. Nor does it constitute an actual or implied obligation of or by us. Our Overdraft Privilege Service represents a purely discretionary courtesy or privilege that we may provide to you from time to time and which may be withdrawn or withheld by us at any time without prior notice or reason or cause.

YOU DESERVE CONSIDERATION…

Rather than automatically returning unpaid all insufficient funds items that you may have, we will consider, without obligation on our part, payment of your reasonable overdrafts created by checks, ACH, or in-person (teller) withdrawals up to your assigned Overdraft Privilege Limit.

You do not have to apply for this service and you do not need to sign any additional documents for the service. With some exceptions, most of our checking account types are eligible for this service. See “Eligible Account Types” in this brochure.

If you would like Overdraft Privilege Service expanded to include ATM withdrawals and everyday debit card transactions, you must Opt-In to this feature. A Customer Service Representative can provide information about how you can Opt-In for ATM and everyday debit card transactions.

If you do not use the Overdraft Privilege Service it costs you nothing. “Use” means you initiate insufficient funds transactions. If you do use the Overdraft Privilege Service you will be charged our customary fees set out in this brochure.

OVERDRAFT PRIVILEGE CAN MEAN

■ You may avoid high charges from merchants for returned checks.

■ You may avoid the embarrassment and inconvenience of denied purchases and dishonored checks.

■ Payment of your occasional and inadvertent overdrafts up to your assigned Overdraft Privilege Limit of $750 or $1,200 will normally be considered. These limits include our customary fees set out within this brochure. Our fees will be added to any outstanding overdrafts you may have and will be applied against your Overdraft Privilege limit.