Ready Reserve Protection

How We Will Calculate Your Balance: We use a method called the “daily balance (including current transactions)” as further described in this agreement.

Billing Rights.  Information on your rights to dispute transactions and how to exercise those rights is provided in this agreement and on the periodic monthly statements.

The following is the agreement between us, Hickory Point Bank and Trust, fsb (the Bank) and you covering your Hickory Point Ready Reserve Account (the Account), you and any joint account holders, by using or permitting others to use the Account, will be bound by this agreement. Any authorized users on your account will be bound by this agreement to the extent of their Ready Reserve advances. To induce the Bank to make Ready Reserve available to you under which the Bank will pay one or more of your checks drawn on your checking account, authorized transfers, of the authorized withdrawals not in excess of the maximum credit or such other amount as the Bank shall approve in writing, you promise to pay to the Bank, on or before the 21st day after the date of such billing (hereinafter called the Monthly Payment Date) regular consecutive monthly installments of the greater or $10 or 4% of the total amount owing Bank on the statement date (unless the total amount owing is $10 or less, in which event the total amount billed shall be due and payable) plus any amounts past due, it being understood that each such payment will be applied in the following order: (1) to interest charges computed at the rate of one and one half percent (1 1/2%) per month or fraction of a month on the daily outstanding balance of the amounts owing Bank during such monthly period, (We figure the interest charge on your account by applying the periodic rate to the “daily balance” of your account for each day in the billing cycle. To get the “daily balance” we take the beginning balance of your account each day, add any new advances, and subtract any unpaid interest or other finance charges and any payments or credits. This gives us the daily balance); (2) and then to the amount of the Ready Reserve Advance in the order paid.

You hereby authorize the Bank to obtain payment of the applicable minimum monthly payment by automatically deducting the amount thereof from the checking account that is linked to your Ready Reserve account on or after the date specified on the statement for payment to be made. If funds in the checking account will not cover the payment then due, the Bank, at its option, may advance or transfer funds from the Ready Reserve account in order to make the payment. Any payment in excess of the minimum monthly payment will reduce your outstanding balance, but a separate payment equal to or greater than the scheduled payment between the date of the last statement and the next scheduled date of the payment will stop the automatic payment from being deducted from the account automatically. You may prepay advances at anytime.

The periodic rate of the FINANCE CHARGE is one and one-half percent (1 1/2%) for each monthly billing cycle and accrued immediately upon an advance on your Ready Reserve Account. The ANNUAL PERCENTAGE RATE of the one and one-half percent (1 1/2%) periodic rate is eighteen percent (18%). A minimum charge of $.25 shall be imposed in any monthly billing cycle in which credit has been advanced by the Bank.

It is further agreed that: (a) the Bank will from time to time, prepare and mail to you a monthly Statement of Account setting forth the items credited and debited to the Account during the month immediately following the last prior Statement of Account and the amount then payable; (b) that each Statement of Account shall be considered correct by you unless you notify the Bank to the contrary by writing to the Bank at P.O. Box 2548, Decatur, Illinois 62525 within 60 days after the date of the Statement of Account giving your name, account number, the dollar amount and description of the suspected error, with the understanding that you do not have to pay any amount in question while we are investigating and that you cannot be reported as delinquent, but that you are still obligated to pay the parts of your bill that are not in question; (c) upon your failure to pay any amount as herein agreed, no further Ready Reserve Advances will at the option of the Bank, be paid by the Bank and if that option is exercised, the amount then remaining to be paid hereunder by you shall become immediately due and payable to the Bank; (d) upon your failure to pay any amount as herein agreed, the Bank reserves the right of setoff against any funds or property held by or on deposit with the Bank; (e) upon the Bank’s being informed of your insolvency or bankruptcy no further charges will be paid by the Bank and the amount then remaining for you to pay hereunder shall become immediately due and payable to the Bank; (f) you or the Bank may terminate your Ready Reserve Account at any time by written notice to the other, but such termination shall not affect your obligation to pay any outstanding balance or finance charge assessed thereon; (g) the Bank reserves the right to change the terms and conditions of this Agreement subject to 45 days prior written notice, at which time you will have the right and option to terminate your Ready Reserve Account and pay your then outstanding balance under the old terms, or to continue to use your Ready Reserve Account thereby agreeing to the new terms and conditions thereof, and (h) if this Agreement is signed by two or more persons, they shall be jointly and severally liable hereunder the word “you” wherever used along herein shall be considered to refer to each of such parties, all in the same manner and with the same effect as if each of them had signed separate Agreements. Your rights hereunder are not assignable.

Credit Reporting Notice. We may report information about your account to credit bureaus. Any late payments, missed payments, or other defaults on your account may be reflected in your credit report.

You shall be liable for and pay to the Bank all costs and disbursements, including reasonable attorney’s fees, incurred by the Bank in any legal proceedings to collect or enforce the debt in the event of your delinquency or in the event of your breach of any of the terms of this Agreement.

You authorize payment of any check or authorization properly drawn on your checking account (to the extent of any available credit on your account). If payment of the check results in a negative balance (overdraft), the Bank will transfer funds to such checking account in increments of $100 from your Ready Reserve Account. Such transfers will be charged to your Ready Reserve Account as advances.

Ready Reserve Fee: A monthly Ready Reserve Fee of $1.00 will be charged and automatically deducted/debited from the checking account that is linked to your Ready Reserve Account.

NOTICE OF PRIVACY PRACTICES

Our Privacy Commitment to You
We recognize, respect, and protect the personal privacy rights of all our customers. We realize that our customers entrust us with personal information and it is our policy to maintain our customers’ information in a confidential manner. We are committed to providing the highest level of security and privacy regarding the collection and use of our customers’ personal information, as well as personal information of all consumers who visit our institution and website.

Confidentiality and Security of Nonpublic Personal Information
We understand that the protection of your nonpublic personal information is of the utmost importance. Guarding your privacy is our obligation. Hickory Point Bank maintains strict procedures and policies to safeguard your privacy. We restrict employee access to customer information only to those who have a business reason to know such information, and we educate our employees about the importance of confidentiality and customer privacy. We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard your nonpublic personal information.

It is the policy of Hickory Point Bank to follow the rules of the Privacy of Consumer Financial Information in all cases except where Illinois Law prevails.

Nonpublic Personal Information We Collect
We collect nonpublic personal information about you from the following sources:

• Information we receive from you on applications or other forms
• Information about your transactions with us or others
• Information we receive from a consumer reporting agency

Nonpublic Personal Information We Disclose
We do not disclose nor do we reserve the right to disclose any nonpublic personal information about our customers or former customers to anyone, except to other nonaffiliated third parties as permitted by law. We may exchange such information with certain nonaffiliated third parties (under limited circumstances) to the extent possible under law to service your account, offer you products or services we believe you may find valuable, report to credit bureaus, manage risk, and other financial service related activities.

• We may, for example, disclose nonpublic personal information about you to others for purposes of servicing your account with us, processing transactions that you request or authorize, running credit or other verification checks, protecting against fraud, or complying with state/federal banking regulations. We may disclose information we receive from you, such as your name and address, to companies that perform marketing services on our behalf or to other financial institutions with whom we have joint marketing agreements. If you decide to close your account(s) or become an inactive customer, we will adhere to the privacy policies and practices as described in this notice.

Notify Us of Inaccurate Information We Report To Consumer Reporting Agencies. Please notify us if we report any inaccurate information about your account(s) to a consumer reporting agency. Your written notice describing the specific inaccuracy(ies) should be sent to us at the following address:  HICKORY POINT BANK & TRUST, fsb, P.O. BOX 2548, DECATUR, ILLINOIS 62525-2548

I(we) have read the Ready Reserve Agreement and Disclosure Statement, along with the Notice of Privacy Practices, and agree to be bound to the terms set forth therein.

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