Lake Federal Bank, FSB - Online Agreement & Disclosure

Welcome to Lake Federal’s Online Banking
You are about to transform your personal computer into your personal branch of Lake Federal. Your security is extremely important to us, especially when it comes to personal financial information. Complete privacy, which is controlled through 128-bit encryption and a password, ensures only authorized access to your accounts.

All Transactions are run during Central Standard Time and all time references included in this disclosure are according to Central Standard Time.

A personal computer with internet access, an email address, and a bank account is required to get started. For your internet browser, you will need either Internet Explorer 5.5 (or greater) from Microsoft Corp. or Netscape’s Navigator 6.0 (or greater). Upgrading your browser is required, regardless of whom your provider is. Keeping current with the latest version of your internet browser will help ensure secure transactions and prevent the error message “Your certificate has expired” from occurring.

Internet Banking Terms and Conditions Agreement

This Agreement describes your rights and obligations as a user of the Online Banking Service. It also describes the rights and obligations of Lake Federal. Please read this Agreement carefully. As an authorized account holder you must abide by the terms and conditions of this agreement, and those provided to you at account opening, in order to use this Service.

CUSTOMER DISCLOSURE AND AGREEMENT TO RECEIVE ELECTRONIC COMMUNICATIONS

By selecting the "I Accept" button below, you are (1) acknowledging your receipt of the information listed below, (2) agreeing that any contract you enter into with Lake Federal for the provision of certain Online Banking Services, may be in electronic form, and (3) agreeing that certain information that may be delivered in connection with the Services may also be in electronic form.

You are also acknowledging receipt of the following information and agree that:

You will check your e-mail regularly for notices from Lake Federal.
You are providing accurate, current and truthful registration and contact information (including your e-mail address) and that you will keep this information up-to-date with Lake Federal
We may provide you with this Agreement and any revisions and amendments thereto in electronic form, and that, if you choose to accept the Agreement, you are consenting to enter into and are entering into an agreement electronically that will govern all future transaction you conduct using the Service.
We may provide you revisions and amendments to the Agreement and such other information, including but not limited to information under Regulation E and under other applicable banking or financial services laws or regulations in connection with the Service, electronically as a part of the Agreement or otherwise as a part of the Services. While you may print and retain a copy of the Agreement or any information provided to you in relation to the Service, we only provide these documents electronically
You have a right at any time to withdraw, without service charges, your consent to receive information electronically. However, because the Agreement and the Information are provided only in electronic format, your withdrawal of consent will terminate all the Services.
If you wish to withdraw consent to receive information electronically, to terminate the Services, or to update your information such as a change of address, or email address, you may call Lake Federal at 1-219-845-0220, or write a letter and send it to:

Lake Federal
Attention: Electronic Banking
P.O Box 2277
Hammond, Indiana 46323
You are able to access information that is provided in the same manner as the information and the Services via the Internet.

DEFINITIONS

The following definitions apply in this Agreement.

"Online Banking" is the Internet-based service providing access to your account(s) under the terms set forth in this Internet Banking Terms and Conditions Agreement

"Online Account" is a Lake Federal account from which you will be conducting transactions using a Service.

"Business Day" refers to Monday through Friday, excluding holidays as determined by Lake Federal. All Online transaction requests received after 6:00 p.m. CST, or on a non-Business Day, will be processed immediately, but will not appear in the online history until the following Business Day.

"Password" is a series of numbers and/or letters that you select after the initial sign-on that establishes your connection to the Service. Lake Federal will provide you with a code for use during the initial sign-on process.

"Time of day" references are to Central Standard Time.

"We," "us" "our" or “Lake Federal” refer to Lake Federal Bank, FSB, which offers the Services provided under this Agreement and holds the accounts accessed by the Services.

ACCESS TO SERVICES

Lake Federal will provide online instructions describing how to use the Online Banking Service. To gain access to this Service you will need your Access ID and your Password.

HOURS OF OPERATION

The Services are generally available 24 hours-a-day, 7 days a week, except during special maintenance and upgrade periods, which routinely are scheduled between 12:00 a.m. and 5:00 a.m. Monday mornings.

USE OF YOUR SECURITY PASSWORD

The safety of our customers' accounts and account information is of paramount importance to Lake Federal. We go through great lengths to protect confidentiality and the security of your account, and urge you to do the same. You agree not to allow anyone to gain access to the Services or to let anyone know your Password used with the Services. You agree to assume responsibility for all transactions initiated through the Services with your Lake Federal User-ID, up to the limits allowed by applicable law. While Lake Federal continues to provide our customers with the level of online security we believe necessary and appropriate, customers who share their User-IDs and Passwords are giving up the full benefit of our security measures and legal protections to which they may be entitled. No Lake Federal representative will ever call and ask for your Access ID or User Password.

IF YOUR PASSWORD HAS BEEN LOST OR STOLEN

If your Password has been lost or stolen, call Lake Federal immediately. Telephone 1-219-845-0220, Monday thru Thursday 8 A.M. to 5 P.M, Friday 8 A.M. to 6 P.M. and Saturday, 9 A.M. to Noon. During closed hours, please leave a voice message and our support staff will retrieve the voice message on the next Business Day. Telephoning Lake Federal is the best way of minimizing your losses. You may also restore the security of your Service by immediately changing your Password. If you believe your Password has been lost or stolen and you notify us within two Business Days after you learn of the loss or theft, you can lose no more than $50.00 if someone uses your Password to conduct unauthorized electronic funds transfers without your permission. If you do NOT notify us within two business days after you learn of the loss or theft of your password, and we can prove we could have stopped someone from using your Password to conduct unauthorized electronic funds transfers without your permission if you had told us, you could lose as much as $500.00.

BANKING TRANSACTIONS WITH ONLINE BANKING

In addition to viewing account information, you may use Online Banking to conduct the following transactions:

Transfer funds among your linked checking, savings, money market, loan and line of credit accounts

NOTE: Because regulations require Lake Federal to limit pre-authorized transfers (including Online Banking transfers), the following limitations apply:
Statement Savings Accounts-- You can make no more than six (6) transfers per statement period by pre-authorized or automatic transfer, or by telephone or Online Banking.
Money Market Savings Account-- You can make no more than six (6) transfers per statement period by pre-authorized or automatic transfer or by telephone or Online Banking.
New services may be introduced for Online Banking from time to time. Lake Federal will notify you of the existence of these new services. By using these services when they become available, you agree to be bound by the rules that will be made available to you concerning these services.

STATEMENTS

You will continue to receive your regular account statement either monthly or quarterly, depending on the type of account.

IF YOUR STATEMENT SHOWS TRANSFERS THAT YOU DID NOT MAKE

If your statement shows transfers that you did not make, notify Lake Federal immediately at 1-219-845-0220, or write a letter and send it to:

Lake Federal
Attention: Electronic Banking
P.O Box 2277
Hammond, Indiana 46323

If you do not notify Lake Federal within sixty (60) days after the statement was mailed to you, you may not recover any money lost after the sixty (60) days which would not have been lost if Lake Federal had been notified in time.

ERRORS AND QUESTIONS

In case of errors or questions regarding an Online Banking transaction, you may call Lake Federal at 1-219-845-0220 or write a letter and send it to:

Lake Federal
Attention: Electronic Banking
P.O. Box 2277
Hammond, Indiana 46323

We must hear from you at the specified telephone number or address no later than sixty (60) calendar days after we sent you the first statement on which the problem or error appeared. We will need:

Your name and account number
A description of the error or the transfer in question, and an explanation concerning why you believe it is an error or need more information.
The dollar amount of the suspected error
The date on which it occurred.

If the report is made orally, we may require that you send the complaint or question in writing within ten (10) Business Days from your initial contact. We will notify you with the results of the investigation within ten (10) Calendar Days after you contact us and will correct any error promptly. If more time is needed, however, we may, at our sole discretion, take up to forty-five (45) calendar days to investigate a complaint or question. If this occurs, we will credit your account within ten (10) Calendar Days for the amount you think is in error. This will allow you to use the money during the time it takes us to complete our investigation. If your complaint or question is not received in writing within ten (10) Business Days from your original contact, we may not credit your account until the investigation is completed.

If we determined that no error occurred, we will send you a written notice within three (3) Business Days. You may request copies of the documents that were used in the investigation.

You agree that Lake Federal may respond to you by e-mail with regard to any claim of unauthorized electronic fund transfer related to the Service. Any such electronic mail sent to you by Lake Federal shall be considered received within three (3) Business Days of the date sent by Lake Federal, regardless of whether or not you sign on to the Service within that time frame.

LIMIT OF LAKE FEDERAL'S RESPONSIBILITY

Lake Federal agrees to make reasonable efforts to ensure full performance of Online Banking. Lake Federal will be responsible for acting only on those instructions sent through Online Banking which are actually received, and cannot assume responsibility for circumstances over which the bank has no direct control. This includes but not limited to, the failure or malfunctions in communication facilities, which may affect the accuracy or timeliness of messages you send. Lake Federal is not responsible for any losses should you give incorrect instructions, or if your payment instructions are not given sufficiently in advance to allow for timely payment or delays in mail service.

Any information you receive from Lake Federal is believed to be reliable. However, it can only be provided on a best-efforts basis for your convenience and is not guaranteed. Lake Federal is not liable for any deficiencies in the accuracy, completeness, availability, or timeliness of such information, or for any investment or other decision made using this information.

Lake Federal is not responsible for any fees incurred for Internet access, or for any computer virus or related problems that may be attributable to services provided by any Internet access service provider.

You are responsible for obtaining, installing, maintaining, and operating all computer hardware and software necessary for performing Online Banking. Lake Federal will not be responsible for any errors or failures from the malfunction or failure of your hardware or software.

The limit of Lake Federal's liability shall be as expressly set forth herein. Under no circumstances will Lake Federal be liable in contract, tort, or otherwise for any special, incidental, or consequential damages, whether or not foreseeable. By consenting to use the Services, you agree to waive any and all right to any of the aforesaid, and you acknowledge that the limit of your remedy is as otherwise expressly set forth herein.

LAKE FEDERAL'S RESPONSIBILITY

Lake Federal will be responsible for your actual losses if they were directly caused by our failure to:

Complete an Electronic Funds Transfer as properly requested
Cancel an Electronic Funds Transfer as properly requested.

However, we will not be responsible for your losses if:

Through no fault of Lake Federal, you do not have enough money in your account to make the transfer
Through no fault of Lake Federal, the transaction would have caused you to exceed your available credit
Circumstances beyond our control (e.g., fire, flood, power outage, mail delivery delays, equipment or technical failure or breakdown) prevent the transfer, despite reasonable precautions that we have taken
There is a hold on your account, or if access to your account is blocked in accordance with banking policy
Your funds are subject to legal process or other encumbrance restricting the transfer
Your transfer authorization terminates by operation of law
You believe someone has accessed your accounts without your permission and you fail to notify Lake Federal immediately
You have not properly followed the scheduling instructions, included in this Agreement, to make a transfer or the Payee refuses the Service.
For the failure of any payee to correctly account for or credit the payment in a timely manner
We have received incomplete or inaccurate information from you or a third party involving the account or transfer.
We have a reasonable basis for believing that unauthorized use of your Password or account has occurred or may be occurring, or if you default under this Agreement, the Deposit Account Agreement, a credit agreement, or any other agreement with us, or if we or you terminate this Agreement.

There may be other exceptions stated in this agreement and in other agreements with you. In no event shall we be liable for damages in excess of your actual loss due to our failure to complete a transfer, and we will not be liable for any incidental or consequential damages.

If any of the circumstances listed above shall occur, we shall assist you with reasonable efforts in taking appropriate corrective action to reprocess the transactions that may not have been completed or to correct incorrect transactions that have been processed.

ELECTRONIC MAIL (EMAIL)

If you send Lake Federal an electronic mail message through the Service, Lake Federal will be deemed to have received it on the following Business Day. Emails will be answered within a reasonable time frame.

You should not rely on electronic mail if you need to communicate with Lake Federal immediately (e.g., if you need to report an unauthorized transaction from one of your accounts, or if you need to stop a payment that is scheduled to occur).

You agree that Lake Federal may respond to you by electronic mail with regard to any matter related to the Service, including responding to any claim of unauthorized electronic funds transfer that you make. Any such electronic mail sent to you by Lake Federal shall be considered received within three (3) days of the date sent by Lake Federal, regardless of whether or not you sign on to the Service within that time frame.

OTHER AGREEMENTS

In addition to this Agreement, you and Lake Federal agree to be bound by and comply with the requirements of the agreements applicable to each of your Online Accounts. Your use of the Online Banking service is your acknowledgment that you have received these agreements and intend to be bound by them. You should review other disclosures received by you when you open your accounts at Lake Federal, including the charges that may be imposed for electronic funds transfers or the right to make transfers listed in the fee schedules accompanying those disclosures and the fee schedule at the end of this Agreement. All terms and conditions of the disclosures provided to you at account opening, including but not limited to, the Truth in Savings, Regulation E Disclosure, Depositor's Agreement and Terms and Conditions apply to this Service.

MODIFICATIONS TO THIS AGREEMENT

Lake Federal may modify the terms and conditions applicable to either Service from time to time upon mailing or delivering a notice of the modifications to you at the address shown on our account records, and the revised terms and conditions shall be effective at the earliest date allowed by applicable law. We may send any notice to you via electronic mail and you will have been deemed to have received it three (3) days after it is sent. We reserve the right to terminate this Agreement and your use of the Services in whole or in part at any time without prior notice.

DISCLOSURE OF INFORMATION TO THIRD PARTIES/ PRIVACY POLICY

A copy of Lake Federal's Privacy Statement is available upon request at any of our branches, or can be mailed to you upon request by calling 1-219-845-0220 or writing a letter and sending it to:

Lake Federal
Attention: Electronic Banking
P.O Box 2277
Hammond, Indiana 46323

You can also access our Policy online by clicking on the Privacy Policy icon on the Lake Federal Website.

INACTIVITY / TERMINATION

You are responsible for complying with all the terms of this Agreement and with the terms of the agreement governing the deposit accounts which you access using electronic banking services. We can terminate your Online Banking privileges under this Agreement without notice to you for any reason; or if you do not pay any fee required by this Agreement when due, if you do not comply with the Agreement governing your deposit or loan accounts, or your accounts are not maintained in good standing. We will promptly notify you if we terminate this Agreement or your use of the services for any other reason.

If you are not paying a monthly service charge for the Service, we may convert your account to inactive status if you do not sign on to the Service or have any transaction scheduled through the Service during any consecutive 90 day period. If your account is considered inactive, you must contact us to have the Service activated before you will be able to schedule any transaction through the Service.

To cancel the Online Banking, you must notify Lake Federal. Your notification should include your name, address and the effective date to stop the service(s). You may notify Lake Federal by one of the following methods:

By initiating a customer inquiry through our Web site
By calling 1-219-845-0220
By writing a letter and sending it to:

Lake Federal
Attention: Electronic Banking
P.O. Box 2277
Hammond, Indiana 46323

GOVERNING LAW

This Agreement is governed by the laws of Indiana and applicable federal law(s).

FEE SCHEDULE

Lake Federal offers the benefits and convenience of the Online Banking service to you at no monthly charge. Account research, stop payment charges and over draft charges will be assessed at the rates published in Lake Federal's Schedule of Fees Brochure and deducted from the account you hold at Lake Federal.

All fees are subject to change. Lake Federal will notify you in writing regarding any fee changes at least thirty (30) days in advance of the effective date of these changes.

TYPES AND LIMITATIONS OF TRANSFERS
Our services allow you to ask that recurring deposits which you designate, such as Direct Deposit of Wages, Social Security Benefits, Pension Payments, Dividend Payments and similar recurring payments be deposited directly into your:

Checking Accounts, Money Market Accounts, Passbook Savings Accounts and Statement Savings Accounts.
In addition, it may be possible to arrange with some merchants, insurance companies, banks, credit unions and other financial institutions, to have your recurring bills paid automatically with a preauthorized payment (a debit to your account) from your:
Checking Accounts, Money Market Accounts, and Statement Savings Accounts.
You may transfer funds and make payments using a password (code) via the use of our online or telephone banking services. Funds may be transferred between any of the accounts listed above.

Electronic Check/Draft Conversion: You may access your checking accounts(s) by electronic check or draft conversion. You may purchase goods or pay for services and authorize a merchant or service provider to convert your check into an electronic funds transfer.

There are no limitations on the dollar amount of any electronic funds transfers that you can make with us.

There is no limitation on the frequency of electronic funds transfers when they are deposits as listed above. There is no limitation on the frequency of electronic funds transfers when they are a transfer of funds out of an account (a debit) listed above, with the exceptions of third party transfers out of a Savings Account. You may make no more than six (6) electronic transfers of funds out of your Money Market account each monthly statement cycle period by means of preauthorized, automatic, telephone banking, online banking, other electronic transaction, or order or instruction to another account you maintain with us. Each check, draft or similar order drawn on your account to a third party, during your monthly statement cycle period will count to reduce the six (6) electronic transfers of funds that are permitted each monthly statement cycle period. Transfers from a Statement Savings Account to another account that you have with us or to a third party via preauthorized payment, telephone transfer, or online banking are limited to six (6) per monthly (statement) period.

ACCOUNT INFORMATION TO THIRD PARTIES

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

Where it is necessary for completing transfers, or
In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or
If you give us written permission, or
In order to comply with government or administrative agency summonses, subpoenas or orders, or court orders, or
On receipt of certification from a federal agency or department that a request for information is in compliance with the Right to Financial Privacy Act of 1978.

CONSUMER’S RIGHT TO RECEIVE DOCUMENTATION OF TRANSFERS

If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call at 1-219-845-0220 to find out whether or not the deposit has been made.

STATEMENT ACCOUNTS

If the Direct Deposit was made or if the electronic transfer was made to or from your statement account, the transactions will appear on your monthly statement.

PASSBOOK ACCOUNTS

If the Direct Deposit was made or if a transfer was made to your passbook account, you can bring us your passbook and we will record any electronic transactions that were made to your account since the last time your book was presented. You may also call us at 1-219-845-0220 to find out whether or not a transfer has been made to any of your accounts with us.

RIGHT TO STOP PAYMENT AND PROCEDURE FOR DOING SO

If you have told us in advance to make a regular payment out of your account, you can stop any of these payments. You must use the following procedure:

Notify us by telephone at 1-219-845-0220, in person, or by letter at P.O. Box 2277, Hammond, Indiana 46323 in time for us to receive your request three business days or more before the payment is scheduled to be made. If you call, we will also require you to put your request in writing and get it to us within 14 days after you call. If your written request is not received within this time frame, the stop payment will be nullified. For each stop payment that you give, we will charge you the same fee that is charged for a stop payment on a check.

If you issue a stop payment order on a recurring payment, this will in no way cancel the companies’ right to debit your account. You must contact the originator to cancel your authorization agreement.

NOTICE OF VARYING AMOUNTS

If these regular payments may vary in amount, the person you are going to pay will tell you 10 days before each payment, when it will be made and how much it will be. You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.

LIABILITY FOR FAILURE TO STOP PAYMENT OF PREAUTHORIZED TRANSFER

If you order us to stop one of these payments 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

CONSUMER LIABILITY FOR UNAUTHORIZED TRANSFERS AND ADVISABILITY OF PROMPT REPORTING

If your statement or passbook shows transfers that you did not make, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, or the transfer was recorded in your passbook, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason kept you from telling us, such as a long trip or hospital stay, we will extend the time periods.

Tell us AT ONCE if you believe your telephone or internet access password (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. If you believe that your code has been lost or stolen, and you tell us within two business days after you learn of the loss or theft, you can lose no more than $50 if someone used your code without your permission. If you do NOT tell us within two business days after you learn of the loss or theft of your code, and we can prove we could have stopped someone from using your code without your permission if you had told us, you could lose as much as $500.

ACCEPT

DECLINE