From eloan to Popular Direct. Welcome! Customer Transition Guide

Transcription

1 From eloan to Popular Direct. Welcome! Customer Transition Guide i

2 Welcome Message We are delighted to welcome you to Popular Direct. 1 Effective May 15, 2017, your current eloan 2 accounts will be converted to Popular Direct accounts. Popular Direct is the direct online channel owned and operated by Banco Popular North America ( BPNA ), the same banking institution that maintains your eloan accounts. It is very important to us that this transition is smooth and seamless for you. The contents of this Customer Transition Guide allow you to get acquainted with Popular Direct. Keep it for reference during the transition period, as it includes important information regarding what to expect during this transition period, key dates, and steps to follow. It also contains Popular Direct s Privacy Policy, Funds Availability Policy, Error Resolution Process, Fee Schedules and Personal Banking Disclosure and Agreement. Rest assured that during the transition, we will continue to deliver the highest level of service you deserve from your banking partner. As a Popular Direct customer, you will get: Access to your accounts via your desktop and mobile devices Mobile deposits for your Savings accounts 3 24 hours a day, 7 days a week customer support Telephone banking FDIC-backed products The Popular Direct team invites you to navigate and explore our website and discover the new look and feel to your online deposit experience. Should you have any questions about the transition process, contact one of our Customer Care Representatives: Until Friday, May 12, 2017, please contact eloan Customer Care Representatives at from 9:00 a.m. until 9:00 p.m. ET. During conversion weekend on Saturday, May 13 Sunday, May 14, and after Monday, May 15, 2017, please contact Popular Direct Customer Care Representatives at , 24 hours a day, 7 days a week. Since the systems conversion will occur between Friday, May 12, 2017 and Sunday, May 14, 2017, Popular Direct Care Center Representatives will not have access to account information but are available to answer questions related to the conversion events. We deeply value your business and are committed to innovating through ongoing website enhancements and by strengthening existing products and services. Your overall satisfaction is our top priority. Sincerely, Manuel Chinea Chief Operating Officer Banco Popular North America 1. All Popular Direct deposit products are offered by, and will be opened through, BPNA. BPNA is a Member FDIC institution and a New York state chartered bank. Processing services for all Popular Direct deposit products are provided by BPNA. All deposits with BPNA (including deposits through Popular Direct deposit products) are insured by the FDIC up to the applicable maximum amount allowed by law for each deposit ownership category. All balances for Popular Direct and BPNA deposits would be combined for purposes of determining FDIC coverage eligibility. For more information about FDIC Insurance coverage of deposit accounts, visit 2. All deposit products offered through E-LOAN, Inc. (E-LOAN) will be opened through BPNA, a FDIC-member institution and a New York state chartered bank insured by the FDIC that is the direct parent company of E-LOAN (i.e. E-LOAN is a wholly-owned subsidiary of BPNA). Processing services are provided by BPNA. All deposits with BPNA are insured for the maximum amount allowed by law, and all balances on deposit with BPNA (whether directly or through E-LOAN) would be combined for purposes of determining FDIC coverage eligibility. Beginning January 1, 2013, all of a depositor s accounts at an insured depository institution, including all non interest-bearing transaction accounts, will be insured by the FDIC 1 up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category. For more information about FDIC insurance coverage, visit 3. Certain restrictions apply. Please refer to page 13 for additional information.

3 About Popular Direct Popular Direct is the direct online channel owned and operated by Banco Popular North America, the same depository banking institution that maintains your eloan accounts. Banco Popular North America is the U.S. banking subsidiary of Popular, Inc. [NASDAQ: BPOP], a publicly traded, full-service financial services provider in the United States, Puerto Rico, and the Caribbean. Founded in 1893, Popular, Inc. is the leading banking institution by both assets and deposits in Puerto Rico and ranks among the top 50 U.S. banks by assets. At Popular Direct we believe in keeping things simple and transparent. Access to your Popular Direct accounts is easy, gaining insights through our articles is always helpful, and viewing our competitive rates from your desktop or mobile device lets you know exactly what we offer. About eloan eloan is a wholly-owned subsidiary of Banco Popular North America, a New York State-chartered bank, which in turn is a wholly-owned subsidiary of Popular, Inc. eloan has been your knowledgeable guide to all things financial for over 15 years. 2

4 Table of Contents Quick Overview... 4 Customer Support...5 Questions and Answers...6 Online Banking...10 Online Banking Questions and Answers Mobile Banking Popular Direct Mobile Banking Access Mobile Banking Questions and Answers...14 Transition Checklist Banco Popular North America Product Guides Converted eloan Online Certificates of Deposit Converted eloan Online Savings Accounts Banco Popular North America Funds Availability Disclosure for Popular Direct Accounts..20 Privacy Policy Banco Popular North America Schedule of Fees for Popular Direct Accounts Personal Banking Disclosure Agreement for Popular Direct Products Customer Care Telephone Banking Customer Care Center

5 Quick Overview What to Expect During this Transition Period The conversion to Popular Direct entails that on May 15, 2017, your eloan accounts will be migrated to the Popular Direct platform. On this date, you will start managing your existing eloan deposit accounts from the Popular Direct website. This change does not have any impact on your current rates or FDIC coverage. In the following sections, we describe in detail the events that will take place and provide important information related to the accounts that will become Popular Direct products. Please review this information and feel free to contact us at any time if you have any questions. Until Friday, May 12, 2017, please contact eloan Customer Care Representatives at from 9:00 a.m. ET until 9:00 p.m. ET. During conversion weekend on Saturday, May 13 Sunday, May 14, and after Monday, May 15, 2017, please contact Popular Direct Customer Care Representatives at , 24 hours a day, 7 days a week. Since the systems conversion will occur between Friday, May 12, 2017 and Sunday, May 14, 2017, Popular Direct Care Center Representatives will not have access to account information but are available to answer questions related to the conversion events Your rates and FDIC coverage will remain unchanged after this transition. The main changes resulting from this transition will be on how you access and manage your existing accounts. However, if you do not wish to be converted to the Popular Direct platform, contact the eloan Customer Care Center at before Friday, May 12, 2017, to initiate the closure of your accounts. Important Note: Early withdrawal penalties will apply for CD accounts closed before the end of the account term. For savings accounts, if you close your account before interest is credited, you will not receive the accrued interest. 4

6 Customer Support To help you feel at ease during this conversion, the resources listed below are available to answer your questions. Phone: Prior to systems conversion and until Friday, May 12, 2017 at 9:00 p.m. ET Conversion weekend Saturday, May 13 Sunday, May 14 After systems conversion on Monday, May 15 eloan Care Center Representatives will be available from 9:00 a.m. to 9:00 p.m. ET Monday through Friday at The eloan Care Center will be closed. Popular Direct Care Center Representatives will be available to answer questions related to conversion at , 24 hours a day. Since the systems conversion will occur during this time, Popular Direct Center Representatives will not have access to account information. Do not attempt to access Popular Direct Online or Mobile Banking during this period. Popular Direct Care Center Representatives will be available with full access to account information 24 hours a day, 7 days a week by calling starting at 8:00 a.m. ET on Monday, May 15, Online: For the most recent information regarding the conversion events, please visit us online at Due to conversion activities, Popular Direct Online or Mobile Banking will not be available between Saturday, May 13 and Sunday, May 14,

7 Questions and Answers 1. What changes will occur to my accounts? Your rates and FDIC coverage will remain unchanged after this transition. The main changes as a result of this transition are relative to how you access and manage your existing accounts. However, please be advised that Popular Direct external account transfers are different in the following: 1. Under the eloan platform you were permitted to maintain multiple external accounts (one external account per eloan account). Popular Direct only permits one external account per customer. We will convert all your verified external accounts linked to your open eloan accounts. However, if you need to add an external account in the future, you will only be able to do so by substituting an existing external account on record. 2. Under the eloan platform you could initiate transfers from your CD accounts to your external account at maturity. As a Popular Direct customer, you must initiate this type of transaction by contacting the Popular Direct Care Center at Also, below please find the external account transfer limits on the Popular Direct platform. External Account Transfer Limits Cumulative Transaction Amount: Number of Transactions: Maximum credits per business day into your Popular Direct account from your external account. Maximum debits per business day from your Popular Direct account into your external account. Maximum credits per calendar month into your Popular Direct account from your external account. Maximum debits per calendar month from your Popular Direct account into your external account. $999,999 6 $999,999 6 $185,999, $5,999,999 6 The cut off time for external transfers is 7:00 p.m. ET. For more information about your accounts, please refer to the Banco Popular North America Product Guides for Popular Direct CDs and Online Savings accounts on pages Will my account number change due to the conversion? 6 Your account number will remain the same.

8 3. What is the routing number for my Popular Direct accounts? The routing number is Use this number from Monday, May 15, 2017, when setting up new direct deposits to your accounts. 4. How will my direct deposits be affected? All current direct deposits using the eloan routing number will continue to be processed as usual. We will notify all direct deposit and preauthorized credit originators such as government agencies, your employer, etc., about the change in the appropriate routing number. Starting Monday, May 15, 2017, all future direct deposits, preauthorized or other electronic transfer relationships that you establish must use the routing number for Popular Direct accounts. 5. How will my account statements be impacted? Upon conversion and after you complete the Online Banking and Electronic Statement registration process, rolling thirteen (13) months of estatement history will be accessible through Popular Direct online banking. If you don t complete the Online Banking and Electronic Statement registration process by Tuesday, May 30, 2017, this thirteen (13) month statement history will not be accessible electronically and going forward your statement delivery will change to paper statements. If you will not be able to complete the Online Banking and Electronic Statement registration process, make sure you download or print your past eloan electronic statements before Friday, May 12, Will my interest payment change? We will continue to process your interest payments in the same method that you have selected today. If you want to make any changes to your interest payment, please contact the Popular Direct Customer Care Center 24 hours a day, 7 days a week by calling , starting Monday, May 15, What will happen to any pending account applications? If you have any pending deposit account applications on the eloan platform, please make sure to complete the application process, including the small deposit verification, no later than May 8, Otherwise, the application will be cancelled and the new account will not convert to the Popular Direct system. 8. Will my account beneficiary designations carry over? How do I add a beneficiary? Your existing beneficiaries will be carried over at conversion; however, they will not be viewable via Online Banking. If you want to confirm your beneficiary designation or make any changes, please contact the Popular Direct Customer Care Center 24 hours a day, 7 days a week by calling starting Monday, May 15, We may request that you complete documentation to process the change request. 7

9 9. What will happen if I already have accounts with Popular Direct? If you already have Popular Direct accounts, you will have two separate usernames, one for your eloan accounts and one for your Popular Direct accounts. After you complete the process for your eloan username on or after Monday, May 15, 2017, contact us at so we can merge all your accounts under one username. 10. Will I have access to my account via telephone banking? Upon systems conversion on Monday, May 15, 2017, you will be able to get account balances and transfer funds internally between your savings accounts through the Telephone Banking System by calling the Popular Direct Customer Care Center 24 hours a day, 7 days a week by calling What if I don t want to become a Popular Direct Customer? If you do not wish to be converted to the Popular Direct platform, contact the eloan Customer Care Center at , from 9:00 a.m. to 9:00 p.m. ET, before Friday, May 12, 2017, to initiate the closure of your accounts. Early withdrawal penalties will apply for CD accounts closed before the end of the account term. For savings accounts, if you close your account before interest is credited, you will not receive the accrued interest. 12. Will I still be able to make external transfers? External transfers are funds transfers to and from an account at another US bank that you have linked to your eloan accounts and verified via small deposits. Your previously verified external accounts will be converted. You will be able initiate transfers to and from your Popular Direct Savings accounts through the Popular Direct Online Banking External Transfer service using the Pay and Transfer function on the home screen of Popular Direct Online Banking. Starting on Monday, May 15, 2017, to make changes to your current external accounts please contact the Popular Direct Care Center at , 24 hours a day, 7 days a week. Important changes about your external transfers: Under the eloan platform you were permitted to maintain multiple external accounts (one external account per eloan account). Popular Direct only permits one external account per customer. We will convert all your verified external accounts linked to your open eloan accounts. However, if you need to add an external account in the future, you will only be able to do so by substituting an existing external account on record. Under the eloan platform you could initiate transfers from your CD accounts to your external account at maturity. As a Popular Direct customer, this type of transaction must be initiated by contacting the Popular Direct Care Center at Will there be changes to external account transfer limits? 8 Yes. Please see the External Account Transfer Limits chart on page 6. Note, the cut off time for external transfers is 7:00 p.m. ET.

10 14. What will happen to external transfers that were already scheduled to be processed between Friday, May 12, 2017 and Monday, May 15, 2017? Please refer to the table below for important information regarding your previouslyscheduled external transfers. Transfer Dates: External transfers with effective dates prior and up to Friday, May 12 External transfers with effective dates between Saturday and Sunday, May External transfers with effective dates May 15 or after Processing Platform: Will be processed through the eloan platform. External Transfers only process during business days. There will not be any transfers processed during Saturday and Sunday, May Scheduled transfers for these dates will have an effective date of Monday, May 15 and will be processed through Popular Direct. Will be processed through the Popular Direct platform. 15. How can I find out more information about the transition? To get the latest information regarding the transition, visit Why Popular Direct? Savings Made Easy. Our Product Selector Tool can help you select the best savings strategy and products to meet your needs. 9

11 Online Banking Your Popular Direct accounts will give you access to a full range of online and mobile banking services from your desktop or mobile device including: Electronic Statements Electronic Notices External Transfers Mobile Check Deposits 3 eloan Online Banking will be available up until the conversion, which begins at 7:00 a.m. ET on Friday, May 12, 2017, so that you can check balances and estatements and perform transactions. Please note: The eloan Online Banking platform will be unavailable while we complete the systems conversion to Popular Direct Online Banking starting Friday, May 12 at 7:00 a.m. ET until Monday, May, 15, 2017 at 8:00 a.m. ET. Before conversion weekend starting on Friday, May 12, we ask you that you log in to eloan Online Banking to ensure your phone number is correct. Your phone number will be used to verify your identity the first time you log-in to Popular Direct Online Banking. If your phone number has not been updated by Friday, May 12, 2017, you must contact Popular Direct s Care Center at , 24 hours a day, 7 days a week, after conversion weekend on Monday, May 15, to update your records before your first login. Popular Direct Online Banking Access Popular Direct Online Banking will be accessible starting at 8:00 a.m. ET, Monday, May 15, Go to Popular Direct Online Banking and select Login on the top right of the screen. 2. Enter your eloan Online Banking username. Important Notes: Due to system conversion limitations, all former eloan usernames will be converted to lower case. There may be certain eloan usernames which may not be able to be converted for use as Popular Direct usernames. If you are an impacted customer, you will be contacted by an eloan representative between April 10, 2017 and April 22, 2017 to walk you through the process of changing your username prior to the systems conversion. 3. Validate your identity with our Advanced Login function. For security purposes, the first time you log in you will be prompted to validate your identity through our Advanced Login function by selecting one of these options: Certain restrictions apply. Please refer to page 14 for additional information.

12 sending a temporary code via text message to the phone number on record; making a phone call to the phone number on record; or by asking you a series of authentication questions. 4. Enter your new temporary password. Your temporary password will be the last six (6) digits of your Social Security Number. Important Note: The temporary password must be used within 60 days. After 60 days, the temporary password will expire and you will need to call the Popular Direct Care Center at and get a new temporary password. 5. You will be prompted to change your password immediately. Popular Direct passwords require a minimum of 8 characters, at least 2 letters and 2 numbers and are case sensitive. Upon completion of your password change, and as part of Popular Direct s security processes, you will receive a Popular Direct security alert to the address we have on record. 6. Read and review the Terms and Conditions for esign Disclosure and Consent, Online Banking Service Agreement, and converted eloan account Product Disclosures. You re in! At this time, you may complete the Popular Direct estatements and electronic notices registration. Important note: To view statements and notices electronically you must complete the Popular Direct estatement registration process during your first login session. Otherwise, your account statements will be converted to paper delivery. Why Popular Direct? Resource Center Get the information you need to make smart choices with your money. 11

13 Online Banking Questions and Answers 1. Will I be able to see my online banking history? Transaction history from eloan will be converted. In addition to any estatement that you may be able to access, you will be able to access up to one hundred and eighty days (180) days of account history using Popular Direct online or mobile banking on the Account Activity screen. 2. Will I be able to see my estatement history? After May 15, 2017 and upon registration to Popular Direct Online Banking and estatements enrollment, thirteen (13) months of eloan estatements history will be accessible through Popular Direct online banking. If you don t complete the Online Banking and Electronic Statement registration process this 13-month statement history will not be accessible electronically and going forward your statement delivery will change to paper statements. Therefore, please download or print your past eloan electronic statements, before Friday, May 12, What are electronic notices? With Popular Direct you will be able to enroll in electronic notice delivery to receive documents electronically. In addition to estatements, you will be able to receive Bank notices, such as maturity and overdraft notices and Tax forms, such as Form 1099-INT. You will be able to enroll in electronic notices the first time you log in to Popular Direct Online Banking. Afterwards, you can change your preferences at any time by going to the Change document delivery method link in the Customer Service section. 4. Can I enter CD maturity instructions online? No. After conversion on May 15, 2017, please contact us at within 10 calendar days after your applicable maturity date to provide your CD maturity instructions. Unless you have contacted us with contrary instructions we will automatically renew the applicable CD account at the maturity date for the same term, at the rate in effect on the maturity date. 5. What happens if I don t log in to Popular Direct Online Banking? If you do not login to Popular Direct Online Banking after conversion date on Monday, May 15, 2017, your account statement delivery method will be changed to paper statement. 12

14 NEW! Mobile Banking One of the benefits that you will enjoy as a Popular Direct customer is having access to Mobile Banking. With Popular Direct apps available for iphone, ipad, Android, and Kindle, you choose how to bank. 4 Popular Direct Mobile Banking Access Once you have logged into Popular Direct Online Banking and changed your password, you can use mobile banking. Just download our app for iphone, ipad, Android, or Kindle and log in using the same username and password as you do for online banking. You may also access mobile web banking by going to and selecting Log In on the upper right-hand corner and select the Login to Mobile Banking on the next page. With Popular Direct mobile banking you will be able to access many services available in Popular Direct Online Banking and more! See table below for a summary. Online Mobile Enroll and set Alerts preferences Register to receive notifications on important account activity via or text.* Access up to 18 months of electronic statements and notices Enroll to receive electronic statements and notices via Popular Direct Online Banking. External transfers Transfer funds to and from an account at another US bank. Mobile Deposit Make check deposits in seconds using the camera on your mobile device.** Check account balances View up to 90 days of account history. Internal transfers Conveniently move money among your eligible accounts. 4. iphone, ipad and App Store are trademarks of Apple, Inc. Android is a trademark of Google, Inc. Kindle is a trademark of Amazon, Inc. * Standard mobile carrier charges and fees apply. ** Mobile Deposit is subject to eligibility requirements. Deposits are subject to verification and may not be available for immediate withdrawal. Please refer to our Funds Availability Disclosure for more details. Standard mobile carrier charges and fees apply. 13

15 Mobile Banking Questions and Answers 1. What is Mobile Check Deposit? Mobile Check Deposit, available through the Popular Direct Mobile app, lets you make a deposit from your iphone, ipad or Android smartphone by taking a picture of your check. It can be used in Popular Direct and converted eloan savings accounts. Deposits are subject to verification and may not be available for immediate withdrawal. Please refer to our Funds Availability Disclosure for more details. Standard mobile carrier charges and fees may apply. 2. How do I use Mobile Check Deposit? To make a deposit with Mobile Check Deposit via the Popular Direct Mobile app, follow these steps: Make sure you sign the back of your check and print For mobile deposit only, account number xxxxxxxx below your signature. Login to the Popular Direct Mobile app with your username and password. Choose Check Deposit from the main menu. We will walk you through the steps to choose a deposit account and take pictures of the front and back of your check. 3. What is the deposit cut-off time for Mobile Check Deposits? The deposit cut-off time is 8:00 p.m. ET, Monday through Friday. If you submit after 8:00 p.m. or on a non-business day or holiday your deposit will be processed the next business day. Why Popular Direct? Manage Your Money How You Want. 14 You can access your Popular Direct account from your desktop or mobile device. If you need to speak with someone, our call center is available 24 hours all 7 days of the week.

16 Transition Checklist Before Friday, May 12, 2017 Complete any pending external account verification no later than Monday, May 8, Ensure you have the most updated phone number on record in the eloan website. If you have been notified that your username must be changed, you must complete the process before Friday, May 12, If you will not opt in to electronic statements, you will not have access to the previous 13 months of your statements so print or download your electronic statements from the eloan website. On Friday, May 12, 2017 Online Banking access for your deposit accounts through will be available until 7:00 a.m. ET. From Friday, May 12, 2017 to Sunday, May 14, 2017 During this time, eloan Online Banking and Customer Care access will be suspended while the systems conversion is completed. Popular Direct Care Center Representatives will be available during conversion weekend to answer questions related to the conversion events by calling , 24 hours a day, 7 days a week. On Monday, May 15, 2017 Sign in to Popular Direct Online Banking after 8:00 a.m. ET at and follow the systems prompt to review the Online Banking Terms and Conditions. You may also: Enroll to estatements and other notices. Schedule new recurring transfers. Download the Popular Direct Mobile Banking app. Take a moment to learn about all the additional Online and Mobile Banking services available to you. 15

17 Banco Popular North America Product Guides Converted eloan Online Certificates of Deposit Use this easy-to-follow product guide to get information on our Certificate of Deposit (CD) services, fees and policies. Account Opening and Usage 5 MINIMUM TO OPEN: $10,000 TERMS: 30 days to 6 years INTEREST RATE: Certificate of Deposit will earn its current rate until maturity. 6 ANNUAL PERCENTAGE YIELD (APY): Certificate of Deposit will earn its current APY until maturity. 6 BALANCE COMPUTATION METHOD TO CALCULATE INTEREST: MINIMUM BALANCE REQUIREMENT TO AVOID A FEE: Daily Balance Method. This method applies a Daily Periodic Rate to the principal and also on the accumulated interest of previous periods of the account each day. None MINIMUM BALANCE TO EARN INTEREST: INTEREST RATE TIERS: 6 (Interest rate will be set according to the initial deposit amount and will remain fixed until maturity.) None Same interest rate will be applicable to all balances. STANDARD INTEREST CREDIT TIMING AND DISTRIBUTION: RENEWAL: AUTOMATIC RENEWAL GRACE PERIOD: TRANSACTION LIMITATION ON THE NUMBER OR DOLLAR AMOUNT OF WITHDRAWALS OR DEPOSITS: Interest compounded daily and credited to your account monthly on the last day of the month. 7 Automatic Renewal at the same term and at the current applicable market rate for that product. 10 Calendar Days after maturity date Additional deposits are not allowed during the term of the account, but may be made at maturity or during the 10-calendar days grace period. Withdrawals of either credited interest and/or principal prior to maturity will result in early withdrawal penalties (refer to the Early Withdrawal Penalties on table below) For all applicable fees please refer to our Schedule of Fees. 6. APY assumes interest will remain on deposit until maturity. A penalty will be imposed for early withdrawal. Fees may reduce earnings on the account. 7. At your request, the Bank may credit interest quarterly or at maturity. At Maturity option is only available for CD terms less than 12 months. If the account is closed before accrued interest is credited, the accrued interest will be paid to you.

18 Converted eloan Online Certificates of Deposit Continued Fees and Penalties EARLY WITHDRAWAL PENALTIES 8 : If your account was opened before August 9, 2016: For terms less than 3 months, the fee is 89 days of simple interest. For terms equal to or greater than 3 months up to 12 months, the fee is 120 days of simple interest. For terms greater than 12 months up to 36 months, the fee is 270 days of simple interest. For terms greater than 36 months up to 60 months, the fee is 365 days of simple interest. For terms greater than 60 months, the fee is 730 days of simple interest. If your account was opened on or after August 9, 2016: For terms less than 3 months, the fee is 89 days of simple interest. For terms equal to or greater than 3 months but less than 12 months, the fee is 120 days of simple interest. For terms equal to or greater than 12 months but less than 36 months, the fee is 270 days of simple interest. For terms equal to or greater than 36 months but less than 60 months, the fee is 365 days of simple interest. For terms equal to or greater than 60 months, the fee is 730 days of simple interest. MONTHLY MAINTENANCE: $0 Featured Services MOBILE BANKING APP: Access your account from your mobile device. You can check account balances, fund new CDs and more. Important note: For all Certificates of Deposit transferring from eloan, your CD will earn its current rate until maturity. At maturity, your CD will automatically renew to the same term and at the current interest rates for our regular CDs. If you do not wish to renew your CD, you must call us at within your 10-day grace period to submit your maturity instructions. 8. Early withdrawal penalties do not apply in the event of the death or legal incompetency of the owner of the account. 17

19 Converted eloan Online Savings Accounts Use this easy-to-follow product guide to get information on our Savings Account services, fees and policies. Account Opening and Usage 9 MINIMUM TO OPEN: $5,000 MONTHLY SERVICE FEE: $0 TRANSACTION LIMITATION ON WITHDRAWALS: TRANSACTION LIMITATION ON DEPOSITS: STATEMENT PERIOD: Withdrawals only permitted through an external account, internal transfer to other Popular Direct accounts or via ACH. Deposits only permitted through an external account, internal transfers from other Popular Direct accounts, ACH or via Mobile Check Deposit 10 through the Popular Direct mobile app. Standard statement period is quarterly. Whenever there is activity on the account, you will receive a separate statement for that month. Interest 11 INTEREST RATE: ANNUAL PERCENTAGE YIELD (APY): BALANCE COMPUTATION METHOD TO CALCULATE INTEREST: Interest rates are variable and may change from time to time based on a composite of various market rates and are available online at APY is variable and may change from time to time based on a composite of various market rates and are available online at Daily Balance Method. This method applies a daily periodic rate to the principal (minus any uncleared or uncollected deposits) in the account each day. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks). MINIMUM BALANCE TO EARN INTEREST: $0.01 Interest will be paid on the deposited funds if the balance required by the bank is maintained during the statement period and the account is still open on the last day of the account statement or the interest payment period. INTEREST RATE TIERS: $.01 - $9, $10,000 to $24, $25,000 to $49, $50,000 - $99, $100,000 + STANDARD INTEREST CREDIT TIMING AND DISTRIBUTION: Interest compounded daily and credited to your account monthly on the last day of the month For all applicable fees please refer to our Schedule of Fees. 10. Mobile Deposit is subject to eligibility requirements. Deposits are subject to verification and may not be available for immediate withdrawal. Please refer to our Funds Availability Disclosure for more details. Standard mobile carrier charges and fees apply. 11. We reserve the right to change our fees, charges, balance requirements. We will notify you of any changes as required by law. Interest rate and APY are variable and may change at any time. 12. If you close your account before interest is credited, you will not receive the accrued interest.

20 Converted eloan Online Savings Accounts Continued Overdraft Policies OVERDRAFT AND RETURN ITEM NSF FEES: $0 The Bank, at its discretion, may pay these transactions without requiring your authorization. Transaction Processing Policies 13 TRANSACTIONS ARE GENERALLY PROCESSED IN THE FOLLOWING ORDER: First: Second: All deposits and credits to your account will post. The following items will post in the order in which each was authorized/received: withdrawals, transfers between accounts, government debits, adjustments, and returned deposits. Third: Pre-authorized ACH debits whether one-time or recurring will post in the order received by us. When multiple ACH debits are received, they are posted lowest to highest dollar amount. Fourth: Most fees post on the same day they are incurred, however, certain fees including Return Item NSF Fees and Overdraft NSF Fees are posted on the Business Day after an NSF item for return or an overdraft occurs on an account. Error Resolution IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS WRITE US AT THE ADDRESS OR CALL US AT THE PHONE NUMBER IN THE BOX IN THE MARGIN AS SOON AS YOU CAN. If you think your statement or receipt is wrong or contains an error, or if you need more information about a transfer, we must hear from you no later than 60 days after we send you the FIRST statement on which the error or problem appeared. The following information will be required: (1) Your name and account number. (2) The error or transfer you are unsure about, and explain as clearly as you can why you believe there is an error or why you need more information (3) The dollar amount of the suspected error and the date it appears on your statement. We will investigate your complaint and will correct any error promptly. We will tell you the results of our investigation within 10 business days after we hear from you (20 business days if the transfer involved a new account). An account is considered new for 30 days after the first deposit is made. However, if we need more time, we may take up to 45 days to investigate your complaint or question (90 days if the transfer involved a new account, or a transfer that was initiated outside the U.S.) If we decide to do this, we will provisionally credit your account within 10 business days (20 business days if the transfer involved a new account) for the amount you think is in error, so that you will have use of the money during the time it takes us to complete our investigation. If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days. If we ask you to put your complaint or question in writing and you fail to give us the required written confirmation of your complaint or question, then we may not provide provisional credit to your account or we may revoke the provisional credit we previously gave to you. We will tell you the results of our investigation within three business days after completing our investigation. For more information regarding your dispute resolution rights please refer to the Personal Banking Disclosure and Agreement for Popular Direct Products. ADDRESS: Banco Popular North America Attn: Popular Direct Products P.O. Box 4884 Miami Lakes, FL PHONE: We reserve the right to change our fees, charges, balance requirements. We will notify you of any changes as required by law. 19

21 20 Banco Popular North America Funds Availability Disclosure for Popular Direct Accounts Our policy is to delay the availability of funds from your cash and check deposits. During the delay, you may not withdraw the funds in cash and we will not use the funds to pay checks that you have written. 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. Please remember that even after funds have been made available for withdrawal, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems regarding your account. DETERMINING THE AVAILABILITY OF A DEPOSIT The length of the delay is counted in business days from the day of your deposit. Every day is a business day except Saturdays, Sundays and federal holidays. Deposits made via Popular Direct Mobile Check Deposit Service If you make a deposit via the Popular Direct Mobile Check Deposit service before 8:00 PM Eastern Time 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 via the Popular Direct Mobile Check Deposit service after 8:00 PM Eastern Time on a business day we are open or make a deposit on a business day we are not open, we will consider that the deposit was made on the next business day we are open. Certain terms and conditions apply with Popular Direct Mobile Check Deposit service. If you need any additional information regarding cutoff times for your deposits, please call our Customer Service Department at The length of delay in the availability of funds varies depending on the type and location of the deposit and is explained below. Transfers made via the Electronic Banking External Transfer Service When you transfer funds into your Popular Direct account via the Electronic Banking External Transfer service during the first 90 days your account is open, your funds may not be available until the fourth business day after we receive the funds. When you transfer funds into your Popular Direct account via the Electronic Banking External Transfer service after 90 days your account is open your funds may not be available until the third business day after we receive the funds. SAME-DAY AVAILABILITY Funds from electronic direct deposits to your account are available on the day we receive your deposit. NEXT-DAY AVAILABILITY Funds from the following deposits are available on the first business day after the day of your deposit: U.S. Treasury checks that are payable to you Checks drawn on Banco Popular North America OTHER CHECK DEPOSITS Generally, we make the first $200 of your deposit available on the next business day. The remainder of your deposit will be available on the second business day. LONGER DELAYS MAY APPLY Funds you deposit by check may be delayed for a longer period of time under the following circumstances: We believe a check you deposit will not be paid You deposit checks totaling more than $5,000 on any one day You re-deposit a check that has been returned unpaid You have overdrawn your account repeatedly in the last six months; this will occur if your account has been overdrawn on six separate occasions within the past six months, or on two occasions with amounts of $5,000 or more There is an emergency, such as failure of computer or communications equipment We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when these funds will be available. They will generally be available no later than the seventh business day after the day of your deposit. 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 all other check deposits may not be available until the seventh business day after the deposit. HOLDS ON OTHER FUNDS (OTHER ACCOUNTS) If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately, but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.

22 Rev. 03/17 FACTS WHAT DOES POPULAR, INC. DO WITH YOUR PERSONAL INFORMATION? Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all the information that can be shared. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: Social Security number and income Account balance and transaction history Payment history and credit history How? All financial companies need to share customers personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers personal information; the reasons Popular, Inc. chooses to share; and whether you can limit this sharing. Reasons we can share your personal information Does Popular, Inc. share? Can you limit this sharing? For our everyday business purposes such as to process your transactions, Yes No maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus For our marketing purposes to offer our products and services to you Yes No For joint marketing with other financial companies Yes No For our affiliates business purposes information about your transactions Yes No and experiences For our affiliates business purposes information about your creditworthiness Yes Yes For our affiliates to market to you Yes Yes For nonaffiliates to market to you No We don t share To limit our sharing Mail the form below. Please note: If you are a new customer, we can begin sharing your information 45 days from the date we sent this notice. When you are no longer our customer, we continue to share your information as described in this notice. However, you can contact us at any time to limit our sharing. Questions? Call toll-free: 1 (800) Mail-in Form If you have a joint account, your choice(s) will apply to everyone on your account unless you mark below. Apply my choice(s) only to me. Mail To: NO ACTION IS REQUIRED if you previously chose to opt-out of sharing your information. Mark any/all you want to limit: Do not share information about my creditworthiness with your affiliates for their everyday business purposes. Do not allow your affiliates to use my personal information to market to me. Name Address City, State, Zip Account No(s) Banco Popular North America Attn: Popular Direct Products P.O. Box 4884 Miami Lakes, FL

23 Page 2 Who we are Who is providing this notice? Popular, Inc. and its affiliates: Banco Popular North America, E-Loan, Inc., Popular Equipment Finance, Inc., Popular Insurance Agency USA, Inc. and Banco Popular de Puerto Rico. What we do How does Popular, Inc. protect my personal information? How does Popular, Inc. collect my personal information? Why can t I limit all sharing? What happens when I limit sharing for an account I hold jointly with someone else? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. Also, we limit the access only to employees who need it to provide products and services, or to comply with federal and local regulations. We collect your personal information, for example, when you open an account or show your driver s license apply for a loan or show your government issued ID provide employment information or provide account information We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. Federal law gives you the right to limit only sharing for affiliates everyday business purposes information about your creditworthiness affiliates from using your information to market to you sharing for nonaffiliates to market to you State laws and individual companies may give you additional rights to limit sharing. (See below for more on your rights under state law.) Your choice(s) will apply to everyone on your account unless you tell us otherwise. Definitions Affiliates Nonaffiliates Joint marketing Companies related by common ownership or control. They can be financial and nonfinancial companies. Our affiliates include companies with Popular, Inc.; financial companies such as Banco Popular North America, E-Loan, Inc., Popular Equipment Finance, Inc., Popular Insurance Agency USA, Inc. and Banco Popular de Puerto Rico. Companies not related by common ownership or control. They can be financial and nonfinancial companies. Popular, Inc. does not share with nonaffiliates. A formal agreement between nonaffiliated financial companies that together market financial products or services to you. Our joint marketing partners include: direct marketing, insurance companies, financial service companies, investment securities and/or brokerage firms. Other important information California Residents Your state law requires financial institutions to obtain your consent prior to sharing information about you with nonaffiliated parties. Except as permitted by law, we will not share information we collect about you with nonaffiliated third parties while you are a resident of California. Vermont Residents We do not share information we collect about you with nonaffiliated third parties, except as permitted by Vermont law, such as to process your transactions or maintain your account. In addition, we will not share information about your creditworthiness with our affiliates, except with your authorization. Nevada Residents Pursuant to Nevada law, if you prefer not to receive marketing calls from us, you may be placed on our internal Do Not Call list by writing to us at: Popular, Inc., P.O. Box 5490, Miami Lakes, FL For more information, contact us at the address above. You may also contact the Nevada Attorney General s Office at: Bureau of Consumer Protection, Office of the Nevada Attorney General, 555 E. Washington St., Suite 3900, Las Vegas, NV 89101; telephone number: (702) ; online: 22

24 Banco Popular North America Schedule of Fees for Popular Direct Accounts Account Fees ACCOUNT CLOSED (WITHIN 180 DAYS) $0 DEPOSITED CHECK/ITEM RETURNED UNPAID $0 DORMANT ACCOUNT $0 STOP PAYMENT REQUEST $0 Other Product and Services OFFICIAL BANK CHECK $0 COPIES (CHECKS, STATEMENTS, OTHER BANK RECORDS) INCOMING OR OUTGOING DOMESTIC COLLECTIONS, NON-SUFFICIENT FUNDS (NSF) FEES $5 if under 60 days $10 if over 60 days $35 SPECIAL STATEMENT HANDLING (DUPLICATE, CUT-OFF OR INTERIM STATEMENT, TRANSACTION PRINTOUT, HOLD STATEMENT, RETURN STATEMENT MAIL NOTIFICATION) $5 ACCOUNT RESEARCH/RECONCILIATION $35/hour; $20 minimum COMPLIANCE WITH LEGAL PROCESS (GARNISHMENT, LEVY, CITATION) $75 23

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37 Customer Care Telephone Banking We are excited to offer you 24 hours a day, 7 days a week access to Popular Direct Telephone Banking beginning Monday, May 15, 2017 at 8:00 a.m. ET. The first time you access Popular Direct Telephone Banking, you will need to enter your account number. When prompted for your 4-digit Personal Identification Number (PIN), enter the last 4 digits of the primary account holder s Social Security Number. We recommend changing your 4-digit PIN at your earliest convenience for security purposes , Available 24 hours, 7 days per week Telephone Banking Menu After selecting your preferred language: PRESS 1: For Savings and CD Account Information. PRESS 2: To Transfer Funds between Accounts. PRESS 0: To Speak with an Account Representative. Customer Care Center Prior to Conversion eloan Care Center Representatives will be available from 9:00 a.m. to 9:00 p.m. ET Monday through Friday at During and After Conversion Starting Saturday, May 13, 2017, Popular Direct Customer Care Representatives will be available 24 hours, 7 days a week at

38 iv 2017 Banco Popular North America. Member FDIC.