TIAA DIRECT (A DIVISION OF TIAA, FSB) DEPOSIT ACCOUNT HANDBOOK

Transcription

1 TIAA DIRECT (A DIVISION OF TIAA, FSB) DEPOSIT ACCOUNT HANDBOOK JUNE 2017

2 Table of Contents TIAA Direct Account Terms and Conditions Page Terms and Conditions of Your TIAA Direct Account...1 o Agreement...1 o Account Eligibility...2 o Deposits...2 o Withdrawals...3 o Overdrafts...3 o Transfer Limitations...4 o Early Withdrawal Penalties...5 o Stop Payments...5 o Ownership Types...6 o Arbitration...8 TIAA Direct Account Disclosures Electronic Fund Transfers...8 Your Ability to Withdraw Funds...11 Substitute Checks and Your Rights...12 Truth-In-Savings Disclosures...13 o Interest Checking...13 o High Yield Savings...13 o Money Market Account...13 o Certificate of Deposit...13 TIAA Direct Remote Deposit Service Terms and Conditions...14 TIAA Direct Mobile Banking Service Terms and Conditions...17 TIAA Direct Bill Payment Service Terms and Conditions...19 Your TIAA Direct Deposit Rate Disclosure and Fee Schedule are provided as separate documents. Please review and retain these documents for your records. TIAA Direct is a division of TIAA, FSB, a federal savings association and member FDIC. TIAA, FSB is a subsidiary of Teachers Insurance and Annuity Association of America ( TIAA ). For FDIC insurance purposes, your deposits with TIAA Direct are combined by ownership category with any deposits you have with EverBank, which is also a division of TIAA, FSB, and with any other deposits you have with TIAA, FSB through your trust, retirement and/or brokerage account relationships with affiliated TIAA companies. TERMS AND CONDITIONS OF TIAA DIRECT YOUR ACCOUNT AGREEMENT - This document, along with any other documents we give you pertaining to your account(s), is a contract that establishes rules which control your account(s) with TIAA Direct. Please read this carefully and retain it for future reference. If you sign the signature card or open or continue to use the account, you agree to these rules. Separate schedules of rates, qualifying balances, and fees are included with this document. If you have any questions, please call us. This agreement is subject to applicable federal laws, the laws of the state of Florida and other applicable rules such as the operating letters of the Federal Reserve Banks and payment processing system rules (except to the extent that this agreement can and does vary such rules or laws). The body of state and federal law that governs our relationship with you, however, is too large and complex to be reproduced here. The purpose of this document is to: (1) summarize some laws that apply to common transactions; (2) establish rules to cover transactions or events which the law does not regulate; (3) establish rules for certain transactions or events which the law regulates but permits variation by agreement; and (4) give you disclosures of some of our policies to which you may be entitled or in which you may be interested. If any provision of this document is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect. We may permit some variations from our standard agreement, but we must agree to any variation in writing for your account or in some other document. As used in this document the words we, our, and us mean TIAA Direct, a division of TIAA, FSB, and the words you and your mean the account holder(s) and anyone else with the authority to deposit, withdraw, or exercise control over the funds in 1

3 the account. However, this agreement does not intend, and the terms you and your should not be interpreted, to expand an individual s responsibility for an organization s liability. If this account is owned by a corporation, partnership or other organization, individual liability is determined by the laws generally applicable to that type of organization. The headings in this document are for convenience or reference only and will not govern the interpretation of the provisions. Unless it would be inconsistent to do so, words and phrases used in this document should be construed so the singular includes the plural and the plural includes the singular. CONSUMER REPORTS/INFORMATION REPORTING - You agree that in connection with your application for Deposit Accounts, we are permitted to obtain information about you from one or more consumer reporting agencies. You further agree that we are permitted to obtain additional consumer reports from time to time in connection with maintaining, reviewing, or collecting on your Deposit Accounts. We may report your performance under this Agreement to consumer reporting agencies and others, to the fullest extent permitted by law. ACCOUNT ELIGIBILITY - Our accounts are available to: U.S. citizens; or U.S. permanent resident aliens who: are at least eighteen (18) years old; have a valid tax identification number; have a U.S. street address (not just a P.O. box); and agree to use the account primarily for personal, family, or household purposes. We reserve the right to limit the number of accounts that you may establish with us and/or the amount of funds that you maintain in your account(s). We also reserve the right to decline to open an account for you, even if you have one or more existing accounts with us at the time, or had one or more accounts with us in the past. OPENING A CERTIFICATE OF DEPOSIT - If you apply for a Certificate of Deposit and your application is approved, the account will not be fully opened until your qualifying initial deposit is received and processed by us. This means that certain information about your new certificate of deposit, for example the interest rate, annual percentage yield and maturity date, will not be determined and confirmation thereof provided to you until the account is fully open. LIABILITY - You agree, for yourself (and the person or entity you represent if you sign as a representative of another) to the terms of this account and the accompanying schedule of charges. You authorize us to deduct these charges, without notice to you, directly from the account balance as accrued. You will pay any additional reasonable charges for services you request which are not covered by this agreement. Each of you also agrees to be jointly and severally (individually) liable for any account shortage resulting from charges or overdrafts, whether caused by you or another with access to this account. This liability is due immediately, and can be deducted directly from the account balance whenever sufficient funds are available. You have no right to defer payment of this liability, and you are liable regardless of whether you signed the item or benefited from the charge or overdraft. You will be liable for our costs as well as for our reasonable attorneys fees, to the extent permitted by law, whether incurred as a result of collection or in any other dispute involving your account. This includes, but is not limited to, disputes between you and another joint owner; you and an authorized signer or similar party; or a third party claiming an interest in your account. This also includes any action that you or a third party takes regarding the account that causes us, in good faith, to seek the advice of an attorney, whether or not we become involved in the dispute. All costs and attorneys fees can be deducted from your account when they are incurred, without notice to you. DEPOSITS - You agree to present for deposit only items that are originally made payable to you and that we may return any item presented for deposit that is made payable to anyone other than you regardless of its endorsement. We will give only provisional credit until collection is final for any items, other than cash, we accept for deposit (including items drawn on us ). Before settlement of any item becomes final, we act only as your agent, regardless of the form of endorsement or lack of endorsement on the item and even though we provide you provisional credit for the item. We may reverse any provisional credit for items that are lost, stolen, or returned. We are not responsible for transactions by mail or outside depository until we actually record them. We will treat and record all transactions received after our daily cutoff time on a business day we are open, or received on a day we are not open for business, as if initiated on the next business day that we are open. At our option, we may take an item for collection rather than for deposit. We do not accept deposits in foreign currency. ENDORSEMENTS - We may accept for deposit any item payable to you or your order, even if they are not endorsed by you. We may give cash back to any one of you. We may supply any missing endorsement(s) for any item we accept for deposit or collection, and you warrant that all endorsements are genuine. DEPOSIT DELIVERY AND PREPARATION - You may deliver deposits through various methods. The method and time of delivery determines when you receive credit for the deposit. If we credit your account for the amount shown on the deposit slip, the credit is subject to our subsequent verification, and our determination of the amount of your deposit is final and binding. You agree to prepare your deposit in accordance with our instructions which may include the use of an approved deposit envelope and deposit ticket, if required. You authorize us to open the deposit envelope in your absence and credit the contents to your account. We may treat the contents of the deposit envelope as not accepted for deposit until we have verified the contents. If your deposit includes items that we do not accept for deposit, we may return them to you. 2

4 DIRECT DEPOSITS - If we are required for any reason to reimburse the federal government for all or any portion of a benefit payment that was directly deposited into your account, you authorize us to deduct the amount of our liability to the federal government from the account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability. TRANSACTIONS BY MAIL - You may deposit checks by mail. You should endorse the check being sent through the mail with the words For Deposit Only and should include your correct account number underneath to ensure the check is credited to the correct account. You should use the pre-encoded deposit slips found behind your checks in your checkbook if you have one. If you do not use your deposit slip or otherwise provide us with instructions indicating how or where the check should be credited, we may apply it to any account or any loan balance you have with us or we may return the check to you. We will not provide receipts for deposits that are mailed to us. We may charge you an account research fee for deposits made without a properly completed deposit slip. Following your deposit, examine your statement carefully or call us to ensure that we received the item. Do not send cash through the mail for deposit. RETURNED ITEMS - If an item that is credited to your account is returned to us at any time for any reason by the bank on which it is drawn or by any collecting bank, you agree that we may accept that return and charge the item against your account without regard to whether the other bank had paid or returned the item in accordance with any applicable deadline or rule. You agree that we may debit your account for any interest that may have been calculated or paid on the item and that we may charge you a fee for the returned item in accordance with the account fee schedule. We may debit the returned item on the earlier of the business day it is returned to us or the business day that we receive notice that the item is being returned to us. In some cases the bank on which a returned item is drawn may send us either an electronic notice of return, an indemnified copy of the original, or an image replacement document, rather than the original item. You agree that we may act on, and that you are bound by, these just as if the original item had been returned. You agree that we are not obligated to take any action or inaction to recover payment for an item that is returned to us. If there are not sufficient funds in your account to cover a returned item, we may overdraw your account and charge you a fee. We will not be liable if debiting a returned item to your account results in insufficient funds to cover any other items that may be presented for payment. You agree to immediately repay any overdraft caused by a returned item. WITHDRAWALS - Unless clearly indicated otherwise on the account records, any of you, acting alone, who signs to open the account or has authority to make withdrawals may withdraw or transfer all or any part of the account balance at any time. Each of you (until we receive written notice to the contrary) authorizes each other person who signs or has authority to make withdrawals to endorse any item payable to you or your order for deposit to this account or any other transaction with us. We may refuse any withdrawal or transfer request which you attempt on forms not approved by us, by any method we do not specifically permit, which is greater in number than the frequency permitted, or which is for an amount greater or less than any withdrawal limitations. We may refuse or delay any withdrawal or transfer request which appears to us to be illegal, fraudulent or that presents undue risk of damage to us. Even if we honor a nonconforming request, we may treat continued abuse of the stated limitations (if any) as your act of closing the account. We will use the date the transaction is completed by us (as opposed to the date you initiate it) to apply the frequency limitations. If we are presented with an item drawn against your account that would be a substitute check, as defined by law, but for an error or defect in the item introduced in the Substitute Check Creation Process, you agree that we may pay such item. We may require not less than seven (7) days notice in writing before each withdrawal from any savings account as defined by Regulation D. Additionally, withdrawals from a certificate of deposit prior to maturity or prior to any notice period may be restricted and may be subject to penalty. See the Your Ability to Withdraw Funds section below for information about when you can withdraw funds you deposit. OVERDRAFTS - When a transaction (for example a check or ATM withdrawal) is presented for payment against your account and its available balance is not sufficient to cover the transaction, one of three things will happen: The transaction may be declined and therefore not paid We may choose to pay the transaction and create an overdraft (negative balance) in your account. Transactions that we may choose to pay include: checks, automated clearing house (ACH) transactions that we receive and/or automated payments that you originate using our bill pay service. We will not create an overdraft for ATM withdrawals or one-time debit card purchases. o The fact that we may honor withdrawal requests that overdraw the available account balance does not obligate us to do so later. You agree that we may charge fees for overdrafts and use subsequent deposits, including direct deposits of social security or other government benefits, to cover such overdrafts and overdraft fees. You agree that if we honor a withdrawal request that creates a negative balance in your account, you will immediately repay the negative amount. We may also charge a fee each time we create an overdraft. Please see the Fee Schedule for the amount of this fee. Funds, if available, may be swept into your checking account to cover the transaction if you have told us to use a different linked TIAA Direct deposit account for that purpose. See the Protecting Your Account From Overdrafts section. PROTECTING YOUR ACCOUNT FROM OVERDRAFTS - You can elect to protect your checking account from overdrafts by telling us to advance funds from a different deposit account that you have with us when a withdrawal transaction would otherwise be declined or create a negative balance in excess of ten dollars ($10.00) in your checking account if honored by us. Choosing to prevent an overdraft by using available funds from a different linked TIAA Direct deposit account may be less expensive than having a transaction declined or allowing us to create an overdraft in your account. If you choose this option, you authorize us to withdraw funds in increments of one hundred dollars ($100.00) from the account that you designate for this purpose and deposit those funds into your checking account. For example, if you need us to move one hundred and thirty-five dollars ($135.00) from the account that you have designated for overdraft protection into your checking account in order to avoid an overdraft, we will withdraw two hundred dollars ($200.00) from that account and deposit it into your checking account. You agree that if there is less 3

5 than one hundred dollars ($100.00) or less than the necessary increment of one-hundred dollars in the account that you use for overdraft protection, we will not withdraw any amount and deposit it into your checking account for this purpose. For example, if you need us to move one hundred and thirty-five dollars ($135.00) from the account that you have designated for overdraft protection into your checking account in order to avoid an overdraft, and there is only one hundred and sixty-five dollars ($165.00) available in the account you have designated for this purpose, we will not withdraw any amount from that account even if there are sufficient funds available to cover the overdraft. PAYMENT ORDER OF ITEMS - The order in which items are paid is important if there is not enough money in your account to pay all of the items that are presented. The payment order can affect the number of items overdrawn or returned unpaid and the amount of the fees you may have to pay. To assist you in managing your account, we are providing you with the following information regarding how we process those items. Our policy is to process electronic transactions, checks and similar items in the order in which they are received for the day on which they are processed. If a check, item or transaction (other than an ATM or everyday debit card transaction) is presented without sufficient funds in your account to pay it, we may, at our discretion, pay the item (creating an overdraft) or return the item for insufficient funds (NSF). The amounts of the overdraft and NSF fees are disclosed in your fee schedule. TELEPHONE TRANSFERS - A telephone transfer of funds from one account to another account with us, if arranged for or permitted, may be made by the same persons and under the same conditions generally applicable to withdrawals made in writing. 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, and you identify by name and number a beneficiary financial institution, an intermediary financial institution or a 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 payment, 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 payment order to credit 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 other than as is provided in your periodic statement. LINKING EXTERNAL ACCOUNTS FOR ACH TRANSFERS - For certain of our accounts, we allow you to link accounts that you have at other financial institutions ( external accounts ), which enables you to initiate from TIAA Direct both inbound ACH transfers (i.e., funds from your external accounts into your TIAA Direct accounts) and outbound ACH transfers (i.e., funds from your TIAA Direct accounts to your external accounts). Prior to conducting inbound or outbound ACH transfers from your TIAA Direct accounts, you must enroll the external accounts that you wish to link, and we must verify, in our sole discretion, that you own those external accounts. We reserve the right to not only verify your ownership of your external accounts in connection with their initial registration, but also before or after any ACH transfer activity involving any registered external account, again at our sole discretion. When you request to link and enroll any external account (and anytime you request to initiate an ACH transfer from your TIAA Direct accounts): you agree to provide us with any information that we request to verify your ownership of the external account and agree that we may share this information with third-party service providers that assist us with the account verification process; you authorize us and/or our service provider to communicate to your external account financial institution that you have requested and authorized us to link and enroll such external account; you authorize and consent to your external account financial institution disclosing to us and/or our service provider any information that we and/or our service provider may request about you and/or your external account; and you agree to promptly provide any additional identification or external account information that we may request for purposes of verifying your external account. ATM AND DEBIT CARDS - By opening a deposit account, other than a certificate of deposit, you are requesting that we provide either an ATM or a debit card for your use. You agree that any ATM or debit card that we provide to you remains the property of TIAA, FSB, and that we may at our discretion terminate your use of that card at any time. You agree that if we terminate your ability to use an ATM or debit card or if your account is closed, you will stop using the card and destroy it. CURRENCY CONVERSIONS AND CROSS-BORDER TRANSACTIONS - If you make a transaction using your Debit Card or ATM card in a currency other than U.S. Dollars, Mastercard will convert the charge into a U.S. Dollar amount. The Mastercard currency conversion procedure uses either a government-mandated exchange rate, or a wholesale exchange rate selected by Mastercard. The exchange rate Mastercard uses will be a rate in effect on the day the transaction is processed and may differ from the rate in effect on the date of purchase or the date the transaction was posted to your account. When you use your debit card or ATM card for a cross border transaction, whether or not it is necessary for Mastercard to make a currency conversion, we will charge you a fee. Please see the attached Fee Schedule for the amount of this fee. TRANSFER LIMITATIONS - Federal regulations and this Agreement limit certain withdrawal and transfer transactions on our High Yield Savings and Money Market accounts to no more than a total of six (6) per monthly statement cycle. Transactions subject to the six (6) transaction limit during any monthly statement cycle include: 4

6 Preauthorized or automatic payments or transfers (including transfers to an Interest Checking account triggered by Overdraft Protection, if you have signed up for that service) o Transfers (including to another TIAA Direct account) initiated Online o Via Mobile Banking o Via telephone (including requests, such as for wire transfers, received by fax or other electronic transmission) Checks and debit card payments (Money Market accounts only) This limit does not apply to: Deposits and transfers into High Yield Savings and Money Market accounts Withdrawals and transfers out of High Yield Savings and Money Market accounts at an ATM or requested by mail Telephonic requests for a check to be mailed to you for funds in High Yield Savings and Money Market accounts For each applicable transaction that exceeds the six (6)-transaction limit during any monthly statement cycle, we will charge an Excessive Transaction fee, as set forth in our then-current Fee Schedule. Additionally, if you exceed this limit three times during a rolling 12-month period, your High Yield Savings or Money Market Account will be closed and the balance will be transferred to a new Interest Checking account that we open for you. We also reserve the right to close, convert to an Interest Checking account, and/or otherwise restrict transactions on your High Yield Savings or Money Market account more quickly, if your excessive transaction circumstances warrant such action(s). In any event, we will notify you by mail of any changes that we make to your High Yield Savings or Money Market account as a result of excessive transactions on these accounts. EARLY WITHDRAWAL PENALTIES (and involuntary withdrawals) - We may impose early withdrawal penalties on a withdrawal from a certificate of deposit even if you don t initiate the withdrawal. For instance, the early withdrawal penalty may be imposed if the withdrawal is caused by our setoff against funds in the account or as a result of an attachment or other legal process. We may close your account and impose the early withdrawal penalty on the entire account balance in the event of a partial early withdrawal. See your Truth in Savings Act Disclosure for additional information about early withdrawal penalties. POSTDATED, INCOMPLETE, OR CONDITIONAL CHECKS - You agree not to issue or present for deposit any postdated, incomplete, or restricted (for example a check with not valid for more than $500 written on it) checks. You agree that we are not liable for paying, refusing to pay, accepting for deposit, or rejecting and returning any check that is postdated, incomplete, or otherwise restricted. CHECK PROCESSING - We may process items mechanically by relying solely on the information encoded in magnetic ink along the bottom of the items. This means that we do not individually examine all of your items to determine if the item is properly completed, signed and endorsed or to determine if it contains any information other than what is encoded in magnetic ink. You agree that we have not failed to exercise ordinary care solely because we use our automated system to process items and do not inspect all items processed in such a manner. Using an automated process helps us keep costs down for you and all account holders. We may determine the amount of available funds in your account for the purpose of deciding whether to return an item for insufficient funds at any time between the time we receive the item and when we return the item or send a notice in lieu of return. We need only make one determination, but if we choose to make a subsequent determination, the account balance at the subsequent time will determine whether there are insufficient available funds. FACSIMILE SIGNATURE - If you create a draft against your account using a check writing service, a facsimile signature or any other method that does not result in your personal signature on the draft, you agree that you will maintain the security of any computer or other device by which a signature is affixed and that you are solely responsible for the risk of using any such service or device even if you are not negligent with regard to its use. You also agree that we may treat any draft that is presented for payment that includes a facsimile signature, even if it differs from any draft or signature that has been presented previously, as if it includes your personal signature. You agree to indemnify us for all claims and losses, including attorneys fees, that we may incur as a result of any misuse of such service or device by any person. TRUNCATION, SUBSTITUTE CHECKS, AND OTHER CHECK IMAGES - You agree that if we receive an indemnified copy of your original check, a substitute check, or an image of one of your checks rather than the original item, we may pay the item as if the original had been presented to us. If you truncate an original check and create a substitute check, or other paper or electronic image of the original check, you warrant that no one will be asked to make payment on the original check, a substitute check or any other electronic or paper image, if the payment obligation relating to the original check has already been paid. You also warrant that any substitute check you create conforms to the legal requirements and generally accepted specifications for substitute checks. You agree to indemnify us for any loss we may incur as a result of any truncated check transaction you initiate. We can refuse to accept substitute checks that have not previously been warranted by a bank or other financial institution in conformance with the Check 21 Act. Unless specifically stated in a separate agreement between you and us, we do not have to accept any other electronic or paper image of an original check. STOP PAYMENTS - Unless otherwise provided, the rules in this section cover stopping payment of items such as checks and drafts. Rules for stopping payment of other types of transfers of funds, such as consumer electronic fund transfers, may be established by law or our policy. If we have not disclosed these rules to you elsewhere, you may ask us about those rules. We may accept an order to stop payment on any item from any one of you. You must make any stop-payment order in the manner required by law and we must receive it in time to give us a reasonable opportunity to act on it before our stop-payment cutoff time. Requests submitted after 8:00 P.M. ET any business day will become effective the next business day. Because stoppayment orders are handled by computers, to be effective, your stop-payment order must precisely identify the number, date, and amount of the item, and the payee. Failure to provide the correct information may result in the item being paid. We are not 5

7 responsible for items being paid because of incorrect information. You agree to reimburse us for all expenses and loss resulting from refusing payment pursuant to this order, or if by reason of such stop payments other checks are returned unpaid because of insufficient funds. You may stop payment on any item drawn on your account whether you sign the item or not. Generally, if your stop-payment order is given to us in writing it is effective for twelve (12) months. Your order will lapse after that time if you do not renew the order in writing before the end of the twelve (12)-month period. If the original stop-payment order was given to us verbally (including those made through the Telephone Banking System) or electronically (using our online banking system) your stoppayment order must be confirmed in writing in order to ensure that it remains in effect for twelve (12) months. We are not obligated to notify you when a stop-payment order expires. A release of the stop-payment request may be made only by the person who initiated the stop-payment order. Additional limitations on our obligation to stop payment are provided by law (e.g., we paid the item in cash or we certified the item). If you stop payment on an item and we incur any damages or expenses because of the stop payment, you agree to indemnify us for those damages or expenses, including attorneys fees. You assign to us all rights against the payee or any other holder of the item. You agree to cooperate with us in any legal actions that we may take against such persons. You should be aware that anyone holding the item may be entitled to enforce payment against you despite the stop-payment order. LOST, DESTROYED, OR STOLEN OFFICIAL BANK CHECKS - Under some circumstances you may be able to assert a claim for the amount of a lost, destroyed, or stolen official bank check. To assert the claim: (a) you must be the remitter (or drawer) of an official bank check or payee of the check, (b) we must receive notice from you describing the check with reasonable certainty and asking for payment of the amount of the check, (c) we must receive the notice in time for us to have a reasonable opportunity to act on it, and (d) you must give us a declaration (in a form we require) of your loss with respect to the check. You can ask us for a declaration form. Even if all of these conditions are met, your claim may not be immediately enforceable. We may pay the check until the ninetieth day after the date of the check (or date of acceptance of an official bank check). Therefore, your claim is not enforceable until the ninetieth day after the date of the check or date of acceptance, and the conditions listed above have been met. If we have not already paid the check, on the day your claim is enforceable we become obligated to pay you the amount of the check. We will pay you in cash or issue another official bank check. At our option, we may pay you the amount of the check before your claim becomes enforceable. However, we may require you to agree to indemnify us for any losses we might suffer. This means that if the check is presented after we pay your claim, and we pay the check, you are responsible to cover our losses. We may require you to provide a surety bond to assure that you can pay us if we suffer a loss. OWNERSHIP OF ACCOUNT AND BENEFICIARY DESIGNATION - These rules apply to this account depending on the form of ownership and beneficiary designation, if any, specified on the account records. We make no representations as to the appropriateness or effect of the ownership and beneficiary designations, except as they determine to whom we pay the account funds. Individual Account - is an account in the name of one person. Joint Account - With Survivorship (And Not As A Tenancy By The Entirety Or As Tenants In Common) - is an account in the name of two or more persons. Each of you intend that when you die the balance in the account (subject to any previous pledge to which we have agreed) will belong to the survivor(s). If two or more of you survive, you will own the balance in the account as joint tenants with survivorship and not as tenants in common. Pay-On-Death - If two or more of you create such an account, you own the account as joint tenants with survivorship. Beneficiaries cannot withdraw unless: (1) all persons creating the account die, and (2) the beneficiary is then living. If two or more beneficiaries are named and survive the death of all persons creating the account, such beneficiaries will own this account in equal shares, without right of survivorship. The person(s) creating this account type reserves the right to: (1) change beneficiaries, (2) change account types, and (3) withdraw all or part of the account funds at any time. We do not allow beneficiaries to be designated for an interest checking account. UTMA Accounts - A Uniform Transfers to Minors Act ( UTMA ) account is an account that is managed by a custodian for the sole benefit of the minor who owns the funds in the account. An UTMA account can have only one custodian and one minor owner. The custodian controls the account and we will act only on instructions received from the custodian. We have no duty to monitor or ensure that the acts of the custodian are for the minor owner's benefit. The minor owner's tax identification number ( TIN )/social security number is used for IRS TIN certification and reporting. You may want to speak with a tax advisor before opening an UTMA account. BACKUP WITHHOLDING/TIN CERTIFICATION - Federal tax law requires us to report interest payments we make to you of ten dollars ($10) or more in a year, and to include your taxpayer identification number (TIN) on the report (the taxpayer identification number is your social security number if you are an individual). Interest includes dividends, interest and bonus payments for purposes of this rule. Therefore, we require you to provide us with your TIN and to certify that it is correct. In some circumstances, federal law requires us to withhold and pay to the IRS a percentage of the interest that is earned on funds in your accounts. This is known as backup withholding. We will not have to withhold interest payments when you open your account if you certify your TIN and certify that you are not subject to backup withholding due to underreporting of interest. We may subsequently be required to begin backup withholding if the IRS informs us that you supplied an incorrect TIN or that you underreported your interest income. 6

8 DORMANT ACCOUNTS - For any account other than a certificate of deposit, if there is no activity for twenty-four (24) months other than the crediting of interest, you agree that we may charge you a monthly dormant account fee as described in the Fee Schedule. You further agree that if we choose to delay when we start charging you this fee, we do not waive our right to begin charging it at a later date. You agree that we may, at our discretion, choose to close any account that you maintain with us that we have determined to be dormant. STATEMENTS - Your duty to report unauthorized signatures, alterations and forgeries - If you discover (or reasonably should have discovered) any unauthorized signatures or alterations, you must promptly notify us of the relevant facts. As between you and us, if you fail to do either of these duties, you will have to either share the loss with us, or bear the loss entirely yourself (depending on whether we used ordinary care and, if not, whether we substantially contributed to the loss). The loss could be not only with respect to items on the statement but also to other items with unauthorized signatures or alterations by the same wrongdoer. You agree that the time you have to examine your statement and report to us will depend on the circumstances, but will not, in any circumstance, exceed a total of thirty (30) days from when the statement is first sent or made available to you. You further agree that if you fail to report any unauthorized signatures, alterations or forgeries in your account within sixty (60) days of when we first send or make the statement available, you cannot assert a claim against us on any items in that statement, and as between you and us the loss will be entirely yours. This sixty (60)-day limitation is without regard to whether we used ordinary care. The limitation in this paragraph is in addition to that contained in the first paragraph of this section. Your duty to report other errors - In addition to your duty to review your statements for unauthorized signatures, alterations and forgeries, you agree to examine your statement with reasonable promptness for any other error - such as an encoding error. You agree that the time you have to examine your statement and report to us will depend on the circumstances. However, such time period shall not exceed sixty (60) days. Failure to examine your statement and report any such errors to us within sixty (60) days of when we first send or make the statement available precludes you from asserting a claim against us for any such errors on items identified in that statement and as between you and us the loss will be entirely yours. Errors relating to electronic fund transfers or substitute checks - For information on errors relating to electronic fund transfers (e.g., computer, debit card or ATM transactions) refer to your Electronic Fund Transfers disclosure and the sections on consumer liability and error resolution below. For information on errors relating to a substitute check you received, refer to your disclosure entitled Substitute Checks and Your Rights. MASTERCARD ZERO LIABILITY PROTECTION - You may not be responsible for unauthorized Mastercard debit card transactions provided that you have exercised reasonable care in safeguarding your card (for example, registering certain cards) from any unauthorized use, and upon becoming aware of a loss or theft, you promptly report the loss or theft to us. Unauthorized use means that you did not provide, directly, by implication or otherwise, the right to use your card and you received no benefit from the unauthorized transaction. If either of the conditions set forth above are not met, you may be liable for the transaction to the extent set forth in the Electronic Fund Transfers disclosure included below. RESOLVING ACCOUNT DISPUTES - We may place an administrative hold on the funds in your account (refuse payment or withdrawal of the funds) if it becomes subject to a claim adverse to (1) your own interest; (2) others claiming an interest as survivors or beneficiaries of your account; or (3) a claim arising by operation of law. The hold may be placed for such period of time as we believe reasonably necessary to allow a legal proceeding to determine the merits of the claim or until we receive evidence satisfactory to us that the dispute has been resolved. We will not be liable for any items that are dishonored as a consequence of placing a hold on funds in your account for these reasons. CLAIM OF LOSS - If you claim a credit or refund because of a forgery, alteration, or any other unauthorized withdrawal, you agree to cooperate with us in the investigation of the loss, including giving us an affidavit containing whatever reasonable information we require concerning your account, the transaction, and the circumstances surrounding the loss. You will notify law enforcement authorities of any criminal act related to the claim of lost, missing, or stolen checks or unauthorized withdrawals. We will have a reasonable period of time to investigate the facts and circumstances surrounding any claim of loss. Unless we have acted in bad faith, we will not be liable for special or consequential damages, including loss of profits or opportunity, or for attorneys fees incurred by you. You agree that you will not waive any rights you have to recover your loss against anyone who is obligated to repay, insure, or otherwise reimburse you for your loss. You will pursue your rights or, at our option, assign them to us so that we may pursue them. Our liability will be reduced by the amount you recover or are entitled to recover from these other sources. ACCOUNT HOLDS - If we have reason to suspect that your account has been or is being used for any irregular or illegal activities, we may place a hold on the balance in the account and on the balances in any additional accounts you have with us without any liability to you while we investigate. If we place a hold on your account(s), we will notify you as required by law. LEGAL ACTIONS AFFECTING YOUR ACCOUNT - If we are served with a subpoena, restraining order, writ of attachment or execution, levy, garnishment, search warrant, or similar order relating to your account (termed legal action in this section), we will comply with that legal action. Or, in our discretion, we may freeze the assets in the account and not allow any payments out of the account until a final court determination regarding the legal action. We may do these things even if the legal action involves less than all of you. In these cases, we will not have any liability to you if there are insufficient funds to pay your items because we have withdrawn funds from your account or in any way restricted access to your funds in accordance with the legal action. Any fees or expenses we incur in responding to any legal action (including, without limitation, attorneys fees and our internal 7

9 expenses) may be charged against your account. The list of fees applicable to your account(s) provided elsewhere may specify additional fees that we may charge for certain legal actions. SETOFF - We may (without prior notice and when permitted by law) set off the funds in this account against any due and payable debt you owe us now or in the future, by any of you having the right of withdrawal, to the extent of such persons or legal entity s right to withdraw. If the debt arises from a note, any due and payable debt includes the total amount of which we are entitled to demand payment under the terms of the note at the time we set off, including any balance the due date for which we properly accelerate under the note. This right of setoff does not apply to this account if prohibited by law. For example, the right of setoff does not apply to this account if: (a) it is an Individual Retirement Account or similar tax-deferred account, or (b) the debt is created by a consumer credit transaction under a credit card plan (but this does not affect our rights under any consensual security interest), or (c) the debtor s right of withdrawal only arises in a representative capacity. We will not be liable for the dishonor of any check or other withdrawal transaction when the dishonor occurs because we set off a debt against this account. You agree to hold us harmless from any claim arising as a result of our exercise of our right of setoff. AMENDMENTS AND TERMINATION - We may change any term of this agreement. Rules governing changes in interest rates are provided separately. For other changes, we will give you reasonable notice in writing or by any other method permitted by law. We may also close this account at any time upon reasonable notice to you and tender of the account balance by mail. Notice from us to any one of you is notice to all of you. CHANGING ACCOUNT PRODUCTS - We may change your account to another product offered by us at any time by giving you notice that your account will be changed to another product on a specified date. If your account is a certificate of deposit, the change will not occur before the next maturity date of your certificate of deposit. If you do not close your account before the date specified in the notice, we may change your account to that other product on the date specified in the notice. ACCOUNT TRANSFER - This account may not be transferred or assigned without our prior written consent. ADVISORY AGAINST ILLEGAL USE - You agree not to use your card(s) for illegal gambling or other illegal purpose. Display of a payment card logo by, for example, an on-line merchant does not necessarily mean that transactions are lawful in all jurisdictions in which the cardholder may be located. MONITORING AND RECORDING TELEPHONE CALLS - We may monitor or record phone calls for security reasons and to ensure that you receive courteous and efficient service. You consent in advance to any such recording. We need not remind you of our recording before each phone conversation. ARBITRATION - This Agreement contains a pre-dispute arbitration clause, which will survive the termination of this Agreement and the Account. By signing an arbitration agreement, you and TIAA, FSB agree as follows: All parties to this Agreement are giving up the right to sue each other in court, including the right to a trial by jury, except as provided by the rules of the arbitration forum in which a claim is filed. Arbitration awards are generally final and binding; a party s ability to have a court reverse or modify an arbitration award is very limited. The ability of the parties to obtain documents, witness statements and other discovery is generally more limited in arbitration than in court proceedings. The arbitrators do not have to explain the reason(s) for their awards. The rules of some arbitration forums may impose time limits for bringing a claim in arbitration. In some cases, a claim that is ineligible for arbitration may be brought in court. The rules of the arbitration forum in which the claim is filed, and any amendments thereto, will be incorporated into this Agreement. The arbitrator shall have no authority to award punitive damages or any other kind of damages not measured by the prevailing party s actual damages. IT IS AGREED THAT ANY CONTROVERSY OR CLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR THE BREACH THEREOF, OR THE ACCOUNT WILL BE SETTLED BY ARBITRATION ADMINISTERED BY THE AMERICAN ARBITRATION ASSOCIATION ( AAA ). THE RULES OF THE ARBITRATION WILL BE THOSE IN GENERAL USE BY THE AAA, EXCEPT AS MODIFIED BY THIS SECTION OR OTHERWISE AGREED TO BY THE PARTIES. JUDGMENT UPON THE AWARD RENDERED BY THE ARBITRATOR MAY BE ENTERED IN ANY COURT HAVING JURISDICTION THEREOF. THE ARBITRATION WILL BE BEFORE A SINGLE ARBITRATOR AND WILL BE HELD IN THE CITY OF JACKSONVILLE, FLORIDA. THE PREVAILING PARTY WILL BE ENTITLED TO RECOVER ITS REASONABLE ATTORNEYS FEES AND EXPENSES OF LITIGATION, INCLUDING EXPERT COSTS, IN ANY SUCH ARBITRATION. ELECTRONIC FUND TRANSFERS - YOUR RIGHTS AND RESPONSIBILITIES Please read this disclosure carefully because it tells you your rights and obligations under the Electronic Fund Transfers Act for the transactions listed. You should keep this notice for future reference. 8

10 ELECTRONIC FUND TRANSFER SERVICES - The following electronic fund transfer services are available to you when you open a TIAA Direct deposit account with TIAA, FSB. (1) Direct deposits of payments from the Federal Government such as social security, veteran s benefits, or other such payments that you receive. (2) Direct deposits of payroll to your account if your employer offers and you sign up for this service. (3) Other deposits to your account that are handled electronically such as an automated clearing house transaction that we receive from a third party or that we initiate on your behalf or a check image that we allow you to present to us using our remote deposit service if we make that service available to you. (4) Withdrawals from your account that you authorize a third party to undertake on your behalf when we receive a properly completed request from the third party to transfer funds to them. (5) Transfers of funds from an account you have with us to a different deposit account or to a loan account that you have with us that you request either by telephone, our on-line banking service, our automated telephone banking service, an automated teller machine, or our mobile banking service if it is made available to you. You will be required to verify your identity to use any of these electronic fund transfer services. (6) Transfers of funds from an account you have with us to an account you have with a different bank once we have verified that you own that account, either by telephone or our on-line banking service. You will be required to verify your identity to use any of these electronic fund transfer services. (7) Transfers of funds from an Interest Checking Account you have with us to third parties using our bill pay service either by telephone, our on-line banking service, our automated telephone banking service, or our mobile banking service if it is made available to you. You will be required to verify your identity to use any of these electronic fund transfer services. (8) Transfers or withdrawals of funds as instructed by your use of a debit or ATM card if one is provided to you. FEES - There is no fee for most of the electronic fund transfer services that we make available to you. However, there are fees for the services described below. (1) If you use our bill pay service to request an expedited payment to a third party, there is a fee for that service. The current fee for an expedited payment is five dollars ($5.00) if the expedited payment can be completed electronically or twenty-five dollars ($25.00) if the expedited payment must be made by check. You will be told what the fee is at the time you request this service. (2) If you use an ATM card or debit card to withdraw cash in a foreign currency, we will charge you two dollars ($2.00) plus twopercent (2%) of the amount you withdraw once it is converted to U.S. Dollars. (3) If you use a debit card to make a purchase in a foreign currency or for any transaction that Mastercard classifies as a crossborder transaction (see the Terms and Conditions of Your Account above for more details about these transactions), we will charge you a fee equal to two-percent (2%) of the transaction amount whether or not it is necessary to convert it into U.S. dollars. If the transaction requires a currency conversion, the fee will be based on the amount after it is converted to U.S. Dollars. (4) If you instruct us to stop payment of an electronic funds transfer that has already been processed, and it is possible for us to attempt to stop the payment, we may charge you a fee of twenty-five dollars ($25.00). LIMITATIONS ON ELECTRONIC FUND TRANSFERS - The following limitations apply to electronic fund transfers. (1) You may not instruct us to process more than $5,000 in ACH withdrawal transactions from any or all of your accounts with us in one business day. (2) You may not use an ATM or debit card to make cash withdrawals from an ATM totaling more than $500 per calendar day. (3) You may not use your debit card to make signature based transactions totaling more than $2,500 in any one calendar day. (4) You may not use your debit card to make PIN based transactions totaling more than $2,500 in any one calendar day. (5) You may not use our bill pay service to arrange for a single electronic fund transfer in excess of $10,000 or for total electronic fund transfers in any one day in excess of $10,000. You may not use the expedited payment feature of our bill pay service, if it is made available to you, to arrange for a single electronic fund transfer in excess of $2,500 or for total electronic fund transfers in any one day in excess of $5,000. Depending on your account status, we may allow you to arrange for transactions that exceed these limits, but doing so once does not obligate us to allow future transactions that exceed these limits. (6) For High Yield Savings Accounts, and Money Market Accounts, you may make up to six (6) transfers or withdrawals by means of a preauthorized, automatic, or telephonic transfer to another account of yours or to a third party or by check, debit card, or similar order to a third party during any calendar month (or statement cycle of at least four weeks). A preauthorized transfer includes any arrangement with us to pay a third party from your account at (i) a predetermined time; (ii) on a fixed schedule or (iii) upon oral or written orders including orders received through the automated clearing house (ACH). If the transfer or withdrawal is initiated in person, by mail, or at an ATM then there is no limit on the number of payments that may be made directly to you, directly to us for amounts you owe us, or transfers to other accounts you have with us. Withdrawals by phone are also unlimited if you are requesting that a check be mailed to you. If you exceed these limits, we may close your account or convert it to a checking account. ATM OPERATOR AND NETWORK FEES - When you use an ATM, you may be charged a fee by the ATM operator or by any network used. You may be charged a fee for a balance inquiry even if you do not complete a fund transfer. In connection with certain promotions and/or for certain of our accounts, we may provide reimbursements, up to established limits, of such thirdparty ATM fees. If such ATM fee reimbursements are provided to you, you are responsible for any income tax consequences. In the event that your ATM fee reimbursements plus any other miscellaneous income that we paid to you totals $600 or more in 9

11 a calendar year, we will report these collectively to the Internal Revenue Service on Form 1099-MISC, in the name of the primary accountholder. DOCUMENTATION Terminal transfers - You can get a receipt at the time you make a transfer from your account using an ATM or a point-of-sale terminal. However, you may not get a receipt if the amount of the transfer is fifteen dollars ($15) or less. Preauthorized credits - If you have arranged to have direct deposits made to your account at least once every sixty (60) days from the same person or company, you can call us at or use our on-line banking service to find out whether or not the deposit has been made. Periodic statements - We will make a periodic statement for your deposit accounts available to you at least quarterly. Electronic fund transfers will be listed on your statement. BUSINESS DAYS - Our business days are Monday through Friday Excluding Federal Holidays. STOPPING PREAUTHORIZED PAYMENTS - If you have told us in advance to make regular payments out of your account, you can stop any of these payments by calling us at , by writing to us at TIAA, FSB, P.O. Box 2140, Cranberry Township, PA or by using our on-line banking service to instruct us to stop the payment. We must receive your request at least three (3) business days before the payment is scheduled to be made. If you call or use our on-line banking service, we may also require you to put your request in writing and get it to us within fourteen (14) days. We may charge you for each stop-payment order that we accept from you related to a payment that has already been processed. If you tell us to stop one of these payments at least three (3) business days before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages unless we required and did not receive written confirmation of a stop payment request that you made by telephone by using our on-line banking service within the fourteen (14) days, and the transfer takes place after the fourteen (14) day period. We will not be responsible for failing to act on your stop payment instructions if you do not give us precise and correct information about the payment that is to be stopped. NOTICE OF VARYING AMOUNTS - If you have arranged for regularly scheduled transactions that a third party will initiate for you and the amounts of those transactions may vary, the third party will tell you, ten (10) days before each transaction, the date and amount of the transaction. FINANCIAL INSTITUTION'S LIABILITY - If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages unless: (1) through no fault of ours, you do not have enough money in your account to make the transfer; (2) the funds in your account are not yet available for withdrawal, or are otherwise appropriately held from withdrawal; (3) you have an overdraft line of credit and the transfer would exceed the credit limit; (4) the automated teller machine where you are making the transfer does not have enough cash; (5) the terminal or system was not working properly and you knew about the breakdown when you started the transfer; (6) circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken; or (7) an exception otherwise stated in our agreement with you would apply. CONFIDENTIALITY - We will disclose information to third parties about your account or the transfers you make: (1) where it is necessary for completing transfers; (2) in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; (3) in order to comply with government agency or court orders; or (4) as explained in the separate Privacy Disclosure. CONSUMER LIABILITY FOR UNAUTHORIZED TRANSFERS - Tell us AT ONCE if you believe that an unauthorized electronic fund transfer has occurred or if you believe that one may occur because access to your account (for example your debit or ATM card or your personal identification information) may no longer be secure and may be used without your permission. Telephoning is the best way of keeping your possible losses down. If you do not tell us about an unauthorized fund transfer or fail to tell us that access to your account may no longer be secure, you could lose all the money in your account (plus your maximum overdraft line of credit). If you do notify us, your liability will be limited as follows. If you tell us within two (2) business days after you learn that access to your account may no longer be secure, you can lose no more than fifty dollars ($50.00) for unauthorized transfers out of your account. If you do NOT tell us within two (2) business days after you learn that access to your account may no longer be secure, and we can prove we could have stopped someone from accessing your account without your permission if you had told us, you could lose as much as five hundred dollars ($500). If your statement shows transfers that you did not make, tell us at once. If you do not tell us within sixty (60) days after the statement was mailed to you, you may not get back any money you lost after the sixty (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 (such as a long trip or a hospital stay) kept you from telling us, we may extend this time period. 10

12 RESOLVING ERRORS OR QUESTIONS ABOUT YOUR TRANSFERS - Call or write us at the telephone number or address listed below or through our on-line banking service as soon as you can if you think your statement or receipt is wrong or if you need more information about a transfer listed on a statement or receipt. We must hear from you no later than sixty (60) days after we made the FIRST statement on which the problem or error appeared available to you. Provide us with the following information: (1) your name and account number (if any); (2) a description of the error or the 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) the dollar amount of the suspected error. If you tell us about an error by telephone or by using our on-line banking service, we may require that you send us your complaint or question in writing within ten (10) business days. We will determine whether an error occurred within ten (10) business days (twenty (20) business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to fortyfive (45) days (ninety (90) days if the transfer involved a new account, a point-of-sale transaction, or a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within ten (10) business days (twenty (20) business days if the transfer involved a new account) for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not credit your account. Your account is considered a new account for the first thirty (30) days after the first deposit is made, unless each of you already has an established account with us before this account is opened. We will tell you the results within three (3) business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. If we credit your account while we investigate and later conclude that no error occurred we will debit your account for the amount that was credited. You may ask for copies of the documents that we used in our investigation. CONTACT US - Here is how to contact us with a question about an electronic fund transfer, to report an error with an electronic fund transfer, to tell us about an unauthorized transfer, or to tell us that access to your account may no longer be secure. Write us at: TIAA, FSB Customer Service P.O. Box 2134 Cranberry Township, PA Or Telephone us at: Or use our on-line banking service at: YOUR ABILITY TO WITHDRAW FUNDS Our policy is to delay the availability of certain deposits you make into any account you maintain with us. The length of this delay is counted in business days from the day the deposit is credited to your account. For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and Federal holidays. Our cutoff time for deposits you make by wire transfer is 4:00 P.M. Eastern Time (ET). Our cutoff time for all other types of deposits is 5:00 P.M. ET. If you make a deposit before the applicable cut off time on a business day, we will consider that day to be the day of your deposit. However, if you make a deposit after the applicable cut off time or on a non-business day, we will consider the deposit to have been made on the next business day. Once the funds are available, you can withdraw them in cash and we will use the funds to pay checks that you have written and other withdrawal requests that you make. Please remember that even after we have made funds available to you and you have withdrawn the funds, you are still responsible for deposited checks that are returned to us unpaid and for any other problems involving your deposit. The Following Rules Apply To All Accounts: Same-Day Availability Our policy is to make Funds from electronic deposits initiated by the payer (for example, direct deposits of payroll or government benefits, or your instruction to another financial institution to transfer funds to TIAA, FSB) and funds deposited by wire transfer available on the day they are credited to your Account. Next-Day Availability Funds from the following check deposits are available on the first business day after the day of your deposit: U.S. Treasury checks that are payable to you. Checks that are drawn on TIAA Direct accounts with TIAA, FSB ( On-Us Checks ). We may, at our sole discretion, choose to treat certain other deposited checks as On-Us Checks even though they are not drawn on TIAA Direct accounts with TIAA, FSB. Choosing to do so once does not obligate us to treat subsequently deposited checks in the same manner. 11

13 Second-Day Availability Deposited funds from electronic fund transfers or automated clearing house transactions that we initiate on your behalf (based on telephone or online banking instructions you provide to us) will be available on the second business day following the day we credit the deposit to your Account. Other Check Deposits Availability The first $200 from a deposit of checks (including personal checks) and money orders not described above will be available on the first business day after the day of your deposit. The remaining funds will be available on the second business day after the day of your deposit. For example, if you deposit a check of $700 on a Tuesday, $200 of the deposit will be available on Wednesday. The remaining $500 will be available on Thursday. 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. Longer Delays May Apply Funds you deposit by check may be delayed for a longer period 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 redeposit a check that has been returned unpaid. You have overdrawn your account repeatedly in the last six months. There is an emergency, such as failure of computer or communications equipment. For Interest Checking accounts only, 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 seventh business day after the day of your deposit. SUBSTITUTE CHECKS AND YOUR RIGHTS As our customer we think it s important for you to know about substitute checks. The following Substitute Check Disclosure provides information about substitute checks and your rights. What is a substitute check? 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 you 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 law with respect to those transactions. What are my rights regarding substitute checks? 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 under 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 also are entitled to 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 other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within ten (10) business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than forty-five (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. Substitute Checks, Indemnified Copies, Images, and Image Replacement Copies - In some cases, we may receive an indemnified copy of your original check, a substitute check, or an image of your check, instead of the original item. We may act upon presentment of an indemnified copy, substitute check, or image of your check and pay these items against your account, just as if the original item had been presented. How do I make a claim for a refund? 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: You must contact us within forty (40) calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute 12

14 check was posted to your account, whichever is later. We will extend this time period if you were 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: the check number, the amount of the check, the date of the check, and the name of the person to whom you wrote the check. TRUTH-IN-SAVINGS DISCLOSURES INTEREST CHECKING ACCOUNT Rate Information - See the attached Deposit Rate Disclosure. Frequency of Rate Changes - We may change the interest rate on your account at any time. Determination of Rate - At our discretion, we may change the interest rate on your account. Compounding and Crediting Frequency - Interest will be compounded every day. Interest will be credited to your account every month. Effect of Closing an Account - If you close your account before interest is credited, you will not receive the accrued interest. Minimum Balance to Open the Account - You must deposit $ to open this account. Daily Balance Computation Method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Accrual of Interest on Noncash Deposits - Interest begins to accrue no later than on the business day following the day we credit the deposit to your account. Fees - See the attached Fee Schedule. HIGH YIELD SAVINGS ACCOUNT Rate Information - See the attached Deposit Rate Disclosure. Frequency of Rate Changes - We may change the interest rate on your account at any time. Determination of Rate - At our discretion, we may change the interest rate on your account. Compounding and Crediting Frequency - Interest will be compounded every day. Interest will be credited to your account every month. Effect of Closing an Account - If you close your account before interest is credited, you will not receive the accrued interest. Minimum Balance to Open the Account - You must deposit $ to open this account. Daily Balance Computation Method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Accrual of Interest on Noncash Deposits - Interest begins to accrue no later than on the business day following the day we credit the deposit to your account. Fees - See the attached Fee Schedule. Transaction Limitations - Transfers from a High Yield Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or similar order are limited to six per statement cycle. No transfers by check, draft or debit card are permitted. MONEY MARKET ACCOUNT (MMA) Rate Information - See the attached Deposit Rate Disclosure. Frequency of Rate Changes - We may change the interest rate on your account at any time. Determination of Rate - At our discretion, we may change the interest rate on your account. Compounding and Crediting Frequency - Interest will be compounded every day. Interest will be credited to your account every month. Effect of Closing an Account - If you close your account before interest is credited, you will not receive the accrued interest. Minimum Balance to Open the Account - You must deposit $2, to open this account. Daily Balance Computation Method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Accrual of Interest on Noncash Deposits - Interest begins to accrue no later than on the business day following the day we credit the deposit to your account. Fees - See the attached Fee Schedule. Transaction Limitations - Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or by check, draft, ATM card, or similar order are limited to six per statement cycle. CERTIFICATE OF DEPOSIT (CD) Term and Rate Information - The term of your account will be the term you selected when you applied for a new CD account. The interest rate and Annual Percentage Yield for your account will be determined on the day your qualifying initial deposit is 13

15 credited to your account. They will be the rates in effect for the applicable balance tier for your qualifying initial deposit and the term you selected. We will tell you the term and rates for your CD upon crediting your qualifying initial deposit. Compounding frequency - Interest will be compounded every day and credited to your account monthly. Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest. Minimum balance to open the account - You must deposit $1, to open this account. Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $1, in the account each day to obtain the disclosed annual percentage yield. Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Accrual of interest on noncash deposits - Interest begins to accrue on the day we credit your qualifying initial deposit. Transaction limitations - You may not make any additional deposits into your account before maturity. You may make withdrawals of principal from your account before maturity. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty. After it is credited to your account, you can withdraw interest at any point during the term without penalty. Maturity Date - The maturity date for your certificate of deposit will be based on the date your qualifying initial deposit is credited. We will tell you the maturity date once your initial deposit is credited. Early withdrawal penalties - (a penalty may be imposed for withdrawals before maturity) If your account has a term length of one year or less, the fee we may impose will equal 90 days simple interest on the amount of principal withdrawn. If your account has a term length of more than one year up to and including three years, the fee we may impose will equal 180 days simple interest on the amount of principal withdrawn. If your account has a term length greater than three years, the fee we may impose will equal 270 days simple interest on the amount of principal withdrawn. In certain circumstances such as the death or declared incompetence of an owner of this account, federal law permits, or in some cases requires, the waiver of any early withdrawal penalty. Other exceptions may also apply, for example, if this is part of an IRA or other tax-deferred savings plan. Withdrawal of interest prior to maturity - The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. Automatically renewable time account - This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period mentioned below) or we receive written notice from you within the grace period mentioned below. We can prevent renewal if we mail notice to you at least 30 days before maturity. For all CD terms other than 13 months and 25 months, each renewal term will be the same as the original term. A CD with an original term of 13 months will renew into a CD with a one year (12 month) term. A CD with an original term of 25 months will renew into a CD with a two year (24 month) term. The interest rate will be the rate we offer on the maturity date for new time deposits that have the same term, minimum balance and other features as the term into which your original CD renewed. Grace Period - Notwithstanding the above, you will have seven calendar days after maturity to withdraw the funds without a penalty. Fees - Please refer to our separate Fee Schedule for additional information about charges that may apply. The following section contains information regarding the TIAA Direct Remote Deposit Service provided by TIAA, FSB. This section applies to you if you use this service. TIAA DIRECT REMOTE DEPOSIT SERVICE TERMS AND CONDITIONS The TIAA Direct Remote Deposit Service ( Remote Deposit ) is provided to you by TIAA, FSB ( Bank, we, us, our ). When used in this agreement, you and your mean any person who enrolls in or is otherwise authorized to use Remote Deposit. By enrolling in and continuing to use Remote Deposit, you agree to be bound by the terms contained in this agreement; you should print and retain it for future reference. The terms of this agreement are in addition to any account agreements, disclosures and other documents in effect from time to time governing your TIAA Direct account with TIAA, FSB. General - Remote Deposit, if made available to you, allows you to electronically present images of certain types of checks along with additional deposit related information to us, or to a processor we select, for deposit into a TIAA Direct account that you maintain with the Bank. These images are created and transmitted by using a mobile cellular device that has the appropriate software downloaded onto it. Using Remote Deposit - You may cancel your enrollment in and use of Remote Deposit at any time. You agree that we may change requirements for use of, suspend, or discontinue Remote Deposit or your use of Remote Deposit at any time without prior notice to you. In order to use Remote Deposit, you will need to maintain certain hardware and software. You agree to obtain and maintain necessary hardware and software at your expense. We are not responsible for third party software you may need for Remote Deposit. If required, software is to be obtained and/or accepted by you and is subject to the agreement you make with the provider of that software; we are not party to that agreement. 14

16 Remote Deposit is provided for your convenience and does not constitute the official record of your TIAA Direct account(s). You understand and agree that information transmitted to and from you when you use Remote Deposit may not be encrypted and may include personal or confidential information about you and your TIAA Direct account(s). Delivery and receipt of information, including, but not limited to, instructions you give us, may be delayed or otherwise impacted by factor(s) affecting your Internet service provider(s), phone carriers, other parties, or because of other reasons that we can not control. We will not be liable for losses or damages arising from any disclosure of account information to third parties; failed, delayed, or misdirected delivery; or mishandling of or inaccurate content in information and instructions transmitted using Remote Deposit. You agree to only transmit to us for deposit checks or money orders that are originally made payable to you; that are dated within the twelve months preceding the date of your transmission; and that are drawn on a financial institution in the United States in United States currency. You agree that you will not transmit to us any item that is endorsed as payable to you by another person or entity; that has been or appears to have been altered; that has been previously converted to a substitute check or otherwise been presented for deposit; that is post-dated; or that otherwise fails to meet requirements contained in the agreement that governs your TIAA Direct account. You agree to restrictively endorse each item presented to us using Remote Deposit by signing and writing your account number and For Deposit Only on the back of the item before you create an image to be transmitted to us. You agree to transmit only legible images to us and that we are not responsible for items that are illegible or for images that are dropped during transmission or otherwise not received by us. You agree that we may, at our sole discretion and without liability to you, decide to accept or decline for deposit any item that you present to us using Remote Deposit. For each item you present using Remote Deposit, we will tell you if we have accepted, accepted with identified changes, or declined the item. Your receipt of this information does not mean that the transmission was error free or complete. You agree that once we tell you we have accepted an item for deposit, you will mark the item as void or electronically presented and never re-present the item. If requested by us, you agree to promptly provide a copy of the front and back of any item presented using Remote Deposit in order to aid in our clearing and collection process. You agree that we may establish and, without notice to you, change limits on the total dollar amount and number of items that you may present for deposit using Remote Deposit without liability to you. Our acceptance of any item for deposit does not obligate us to accept similar items for deposit on a future date. Your TIAA Direct deposit account agreement contains details about when deposited funds are made available for withdrawal. You acknowledge and agree that funds related to items accepted by us for deposit using Remote Deposit will be made available for withdrawal by you as if the item itself, rather than an image of it, was presented for deposit. You agree that we, in our sole discretion and subject to the terms and conditions of your account, may determine the method used to clear, present for payment, and collect items that you present to us using Remote Deposit. Disclaimer - THE REMOTE DEPOSIT SERVICE AND CONTENT, INCLUDING, WITHOUT LIMITATION, ALL PRODUCTS AND SERVICES MADE AVAILABLE BY MEANS OF THE REMOTE DEPOSIT SERVICE, ARE PROVIDED AS IS. SPECIFICALLY, BUT WITHOUT LIMITATION, THE BANK DOES NOT WARRANT THAT: (i) THE REMOTE DEPOSIT SERVICE OR ITS CONTENT IS CORRECT, ACCURATE, RELIABLE OR COMPLETE; (ii) THE REMOTE DEPOSIT SERVICE OR THE FUNCTIONS CONTAINED THEREIN WILL BE UNINTERRUPTED OR ERROR-FREE; (iii) DEFECTS WILL BE CORRECTED, OR (iv) THE REMOTE DEPOSIT SERVICE OR THE SERVER(S) THAT MAKE THE REMOTE DEPOSIT SERVICE AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. TO THE MAXIMUM EXTENT PERMITTED UNDER LAW, THE BANK DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO THE REMOTE DEPOSIT SERVICE AND ITS CONTENT, INCLUDING, WITHOUT LIMITATION, ALL PRODUCTS AND SERVICES MADE AVAILABLE BY MEANS OF THE REMOTE DEPOSIT SERVICE. WITHOUT LIMITING THE FOREGOING, THE BANK DISCLAIMS ALL IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT. Limitation of Liability - TO THE MAXIMUM EXTENT PERMITTED UNDER LAW, UNDER NO CIRCUMSTANCES SHALL THE BANK BE LIABLE FOR ANY INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, PUNITIVE, MULTIPLE OR INDIRECT DAMAGES THAT RESULT FROM THE USE OF, OR THE INABILITY TO USE, THE REMOTE DEPOSIT SERVICE, THE REMOTE DEPOSIT SERVICE CONTENT AND/OR THE PRODUCTS AND SERVICES MADE AVAILABLE BY MEANS OF THE REMOTE DEPOSIT SERVICE, EVEN IF THE BANK HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT SHALL THE BANK'S TOTAL LIABILITY TO YOU FOR ALL DAMAGES, LOSSES, AND CAUSES OF ACTION RESULTING FROM YOUR ACCESS AND USE OF THE REMOTE DEPOSIT SERVICE AND ANY PRODUCTS AND SERVICES MADE AVAILABLE BY MEANS OF THE REMOTE DEPOSIT SERVICE, WHETHER IN CONTRACT, TORT (INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE) OR OTHERWISE, EXCEED US $100 OR THE LOWEST AMOUNT PERMITTED UNDER APPLICABLE LAW. Indemnification - You agree to defend, indemnify and hold the Bank and its respective officers, directors, employees, representatives, successors and assigns, harmless from any and all claims, damages, losses, liabilities, costs and expenses, including reasonable attorneys fees, arising in any way from (a) your access, use or misuse of Remote Deposit and Remote Deposit content, including, without limitation, your failure to provide true, accurate, current and complete information to the Bank in connection with obtaining any products or services by means of Remote Deposit; or (b) your acts or omissions, including without limitation, those resulting in injuries and property damage. The Bank reserves the right, at its own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which event you will cooperate with the Bank in asserting any available defense. 15

17 Jurisdiction - The Bank makes no representation that Remote Deposit is appropriate or available for use outside the United States. If you choose to access Remote Deposit from outside the United States, you do so on your own initiative and are responsible for compliance with local laws, if and to the extent local laws are applicable. Governing Law - You agree that your use of Remote Deposit shall be governed by applicable Federal and Florida law and all of the rules and regulations applicable to Federal Savings Banks. In any action to enforce or arising out of use of Remote Deposit, each of the parties hereto consents to the jurisdiction of and venue in the state and federal courts of Florida located within Jacksonville, Florida, for the adjudication of all matters relating hereto or arising hereunder that are not resolved through arbitration. Assignment - You shall not transfer, assign, sublicense nor pledge in any manner whatsoever, any of your rights or obligations under this agreement. All such attempted transfers, assignments, sublicenses or pledges are void. Interpretation - Unless otherwise expressly set forth in this agreement, references to Remote Deposit shall be interpreted to include Remote Deposit functionality and content, and references to including shall be interpreted to mean including, but not limited to. Entire Agreement - By using or accessing Remote Deposit, or by allowing any other person(s) to do so, you agree to the terms and conditions contained in this agreement. From time to time, we may amend the terms and conditions, including making changes to applicable fees and service charges. When we make such changes, we will either, in our sole discretion, send you written notice by electronic mail or regular mail, or we may post the updated terms on the TIAA Direct on-line web site. If you do not want to be subject to any such amendments or modifications, you may discontinue your use of Remote Deposit. Your continued use of Remote Deposit after any such amendment or modification will constitute your agreement to such changes. Integration - This agreement constitutes the entire understanding of the parties with respect to the subject matter of the agreement, and all prior agreements, understandings and representations concerning such subject matter are canceled in their entirety. Notwithstanding the foregoing, this agreement is in addition to any other agreement between you and the Bank. Disputes - In the event of a dispute regarding Remote Deposit, you and the Bank agree to resolve the dispute by looking to this agreement. You agree that this agreement is the complete and exclusive statement of the agreement between you and the Bank which supersedes any proposal or prior agreement, oral or written, and any other communications between you and the Bank relating to the subject matter of this agreement. If there is a conflict between what is said by an employee or agent of the Bank, and the terms of this agreement, the terms of this agreement shall prevail. Waiver - The Bank shall not, by the mere lapse of time, without giving notice or taking other action, be deemed to have waived any of its rights under this agreement. No waiver by the Bank of a breach of this agreement shall constitute a waiver of any prior or subsequent breach of this agreement. Force Majeure - Neither party shall be liable for any loss or damage due to causes beyond its control, including fire, explosion, lightning, pest damage, power surges or failures, strikes or labor disputes, water, acts of God, the elements, war, civil disturbances, acts of civil or military authorities or the public enemy, inability to secure raw materials, transportation facilities, fuel or energy shortages, acts or omissions of communications carriers, or other causes beyond that party's control. Either party may terminate this agreement immediately on written notice if the other party is prevented from performing its obligations under this agreement for a period of more than thirty (30) days due to the reasons set forth in this subsection. Construction - This agreement shall be construed equally against the parties regardless of who is more responsible for its preparation. If there is a conflict between a part of this agreement and any present or future law, the part of this agreement that is affected shall be curtailed only to the extent necessary to bring it within the requirements of that law. Headings and Captions - The headings and captions of the various subdivisions of this agreement are for convenience of reference only and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof. Arbitration - IT IS AGREED THAT ANY CONTROVERSY OR CLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR THE BREACH THEREOF WILL BE SETTLED BY ARBITRATION ADMINISTERED BY THE AMERICAN ARBITRATION ASSOCIATION ( AAA ). THE RULES OF THE ARBITRATION WILL BE THOSE IN GENERAL USE BY THE AAA, EXCEPT AS 16

18 MODIFIED BY THIS SECTION OR OTHERWISE AGREED TO BY THE PARTIES. JUDGMENT UPON THE AWARD RENDERED BY THE ARBITRATOR MAY BE ENTERED IN ANY COURT HAVING JURISDICTION THEREOF. THE ARBITRATION WILL BE BEFORE A SINGLE ARBITRATOR AND WILL BE HELD IN THE CITY OF JACKSONVILLE, FLORIDA. THE PREVAILING PARTY WILL BE ENTITLED TO RECOVER ITS REASONABLE ATTORNEYS FEES AND EXPENSES OF LITIGATION, INCLUDING EXPERT COSTS, IN ANY SUCH ARBITRATION. The following section contains information regarding the TIAA Direct Mobile Banking Service provided by TIAA, FSB. This section applies to you if you use this service. TIAA DIRECT MOBILE BANKING SERVICE TERMS AND CONDITIONS END USER TERMS This service is provided to you by TIAA Direct, a division of TIAA, FSB ( Bank, we, us, our ) and powered by mfoundry (the Licensor ). Section A of these End User Terms is a legal agreement between you and TIAA, FSB. Section B of these End User Terms is a legal agreement between you and the Licensor. SECTION A TIAA Direct Mobile Banking Service Terms and Conditions When used in this Agreement, you and your mean any person who enrolls in or is otherwise authorized to use the TIAA Direct Mobile Banking Service. You should print out this agreement and retain it for future reference. General - The TIAA Direct Mobile Banking Service ( Service ) allows you to choose one or more of three available options by which you can use a mobile device that you register with us to access information about your TIAA Direct account(s) with the Bank and to provide us with certain instructions related to those TIAA Direct account(s). Those options are: Text Banking, which allows you to access your account(s) using text messages you send and receive using a mobile device; Mobile Web, which allows you to use a web browser of your choosing to access your TIAA Direct account(s) using a mobile device; and Mobile Apps, which allows you to use certain applications that have been downloaded onto your mobile device to access your TIAA Direct account(s) with us. For help, text HELP to TCACCT (822228). To cancel your text banking service, text STOP to TCACCT (822228) at anytime. In case of questions please contact customer service at By enrolling in and using the Service you agree to the following terms. You agree that the Bank may send you information through your communication service provider in order to deliver the Service to you and that your communication service provider is acting as your agent in this capacity. You agree to register every device that you wish to use for the Service and to provide a valid phone number, address or other delivery location so that we may send you certain information about your applicable account(s) or otherwise related to the Service. You also agree to indemnify, defend and hold us harmless from and against any and all claims, losses, liability, cost and expenses (including reasonable attorneys fees) arising from your providing a phone number, address, or other delivery location that is not your own or from your violation of any applicable federal, state or local law, regulation or ordinance. Your agreement under this paragraph extends beyond the termination of this agreement. The Service is provided for your convenience and does not constitute the official record of your TIAA Direct account(s). You understand and agree that information transmitted to and from you when you use the Service may not be encrypted and may include personal or confidential information about you and your account(s). Delivery and receipt of information, including, but not limited to, instructions you give us for paying bills and transferring funds through the Service may be delayed or otherwise impacted by factor(s) affecting your Internet service provider(s), phone carriers, other parties, or because of other reasons that we can not control. Any instructions you give us through the Service may take longer to process than if they were given to us via our website. We will not be liable for losses or damages arising from any disclosure of account information to third parties; failed, delayed, or misdirected delivery; or; mishandling of, or inaccurate content in, information and instructions transmitted using the Service. The Bank reserves the right to determine your eligibility for any product, service, or functionality available via the Service. Not all of the products, services, or transaction capabilities that you may see on the TIAA Direct website or that are described in other agreements that you may have with the Bank are available through the Service. Information made available to you via the Service may differ from or be less current than the information that is available through the TIAA Direct website, and may be displayed using different terminology. We are not responsible for such differences. You agree that neither we nor our service providers will be liable for any errors or delays in the content or for any action you take based on that content. The Service is separate and apart from any other charges that may be assessed by your wireless carrier for text messages sent to or received from the Bank. You are responsible for any fees or other charges that your wireless carrier may charge for any related data or message services, including without limitation for short message service. The Service is provided by the Bank and not by any other third party. You and the Bank are solely responsible for the content transmitted through the text messages sent to and from the Bank. You must provide source indication in any messages you send (e.g., mobile telephone number, From field in text message, etc.) Disclaimer - THE TIAA DIRECT MOBILE BANKING SERVICE AND CONTENT, INCLUDING, WITHOUT LIMITATION, ALL PRODUCTS AND SERVICES MADE AVAILABLE BY MEANS OF THE SERVICE, ARE PROVIDED AS IS. SPECIFICALLY, BUT WITHOUT LIMITATION, THE BANK DOES NOT WARRANT THAT: (I) THE TIAA DIRECT MOBILE BANKING SERVICE OR ITS CONTENT IS CORRECT, ACCURATE, RELIABLE OR COMPLETE; (II) THE SERVICE OR THE FUNCTIONS CONTAINED THEREIN WILL BE UNINTERRUPTED OR ERROR-FREE; (iii) DEFECTS WILL BE CORRECTED, OR (iv) THE SERVICE OR THE SERVER(S) THAT MAKE THE SERVICE AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. TO THE MAXIMUM EXTENT PERMITTED UNDER LAW, THE BANK DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO THE SERVICE AND ITS CONTENT, INCLUDING, WITHOUT LIMITATION, ALL PRODUCTS AND SERVICES MADE AVAILABLE BY MEANS OF THE SERVICE. WITHOUT LIMITING THE FOREGOING, THE BANK DISCLAIMS ALL IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT. 17

19 Limitation of Liability - TO THE MAXIMUM EXTENT PERMITTED UNDER LAW, UNDER NO CIRCUMSTANCES SHALL THE BANK BE LIABLE FOR ANY INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, PUNITIVE, MULTIPLE OR INDIRECT DAMAGES THAT RESULT FROM THE USE OF, OR THE INABILITY TO USE, THE SERVICE, THE SERVICE CONTENT AND/OR THE PRODUCTS AND SERVICES MADE AVAILABLE BY MEANS OF THE SERVICE, EVEN IF THE BANK HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT SHALL THE BANK'S TOTAL LIABILITY TO YOU FOR ALL DAMAGES, LOSSES, AND CAUSES OF ACTION RESULTING FROM YOUR ACCESS AND USE OF THE SERVICE AND ANY PRODUCTS AND SERVICES MADE AVAILABLE BY MEANS OF THE SERVICE, WHETHER IN CONTRACT, TORT (INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE) OR OTHERWISE, EXCEED US $100 OR THE LOWEST AMOUNT PERMITTED UNDER APPLICABLE LAW. Indemnification - You agree to defend, indemnify and hold the Bank and its respective officers, directors, employees, representatives, successors and assigns, harmless from any and all claims, damages, losses, liabilities, costs and expenses, including reasonable attorneys fees, arising in any way from (a) your access, use or misuse of the Service and Service content, including, without limitation, your failure to provide true, accurate, current and complete information to the Bank in connection with obtaining any products or services by means of the Service; or (b) your acts or omissions, including without limitation, those resulting in injuries and property damage. The Bank reserves the right, at its own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which event you will cooperate with the Bank in asserting any available defense. Jurisdiction - The Bank makes no representation that the Service is appropriate or available for use outside the United States. Those who choose to access the Service from outside the United States do so on their own initiative and are responsible for compliance with local laws, if and to the extent local laws are applicable. Governing Law - You agree that your use of this Service shall be governed by applicable Federal and Florida law and all of the rules and regulations applicable to Federal Savings Banks. In any action to enforce or arising out of use of the Service, each of the parties hereto consents to the jurisdiction of and venue in the state and federal courts of Florida located within Jacksonville, Florida, for the adjudication of all matters relating hereto or arising hereunder. Assignment - You shall not transfer, assign, sublicense nor pledge in any manner whatsoever, any of your rights or obligations under these Terms and Conditions. All such attempted transfers, assignments, sublicenses or pledges are void. Interpretation - Unless otherwise expressly set forth in these Terms and Conditions, references to the Service shall be interpreted to include the Service functionality and content, and references to including shall be interpreted to mean including, but not limited to. Entire Agreement - By using or accessing the Service, or by allowing any other person(s) to do so, you agree to these terms and conditions. From time to time, we may amend the terms and conditions, including making changes to applicable fees and service charges. When we make such changes, we will either, in our sole discretion, send you written notice by electronic mail or regular mail, or we may post the updated terms on our on-line web site. If you do not want to be subject to any such amendments or modifications, you may discontinue use of the Service. Your continued use of the Service after any such amendment or modification will constitute your agreement to such changes. Arbitration - IT IS AGREED THAT ANY CONTROVERSY OR CLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR THE BREACH THEREOF, OR THE ACCOUNT WILL BE SETTLED BY ARBITRATION ADMINISTERED BY THE AMERICAN ARBITRATION ASSOCIATION ("AAA"). THE RULES OF THE ARBITRATION WILL BE THOSE IN GENERAL USE BY THE AAA, EXCEPT AS MODIFIED BY THIS SECTION OR OTHERWISE AGREED TO BY THE PARTIES. JUDGMENT UPON THE AWARD RENDERED BY THE ARBITRATOR MAY BE ENTERED IN ANY COURT HAVING JURISDICTION THEREOF. THE ARBITRATION WILL BE BEFORE A SINGLE ARBITRATOR AND WILL BE HELD IN THE CITY OF JACKSONVILLE, FLORIDA. THE PREVAILING PARTY WILL BE ENTITLED TO RECOVER ITS REASONABLE ATTORNEYS FEES AND EXPENSES OF LITIGATION, INCLUDING EXPERT COSTS, IN ANY SUCH ARBITRATION. SECTION B END USER LICENSE AGREEMENT TERMS FOR THE mfoundry DOWNLOADABLE TIAA DIRECT BANKING APPLICATION To be Agreed to by End User Prior to Use of the TIAA Direct Downloadable App 1. Ownership. You acknowledge and agree that mfoundry, a third party provider or licensor to your financial services provider ( Licensor ) is the owner of all right, title and interest in and to the downloaded software to be used for access to mobile banking services from your financial services provider and the computer programs contained therein in machine readable object code form as well as any accompanying user documentation along with all subsequent copies, updates or versions thereof which are made available to you (if any), regardless of the media or form in which they may exist (collectively the Software ). 2. License. Subject to the terms and conditions of this agreement, you are hereby granted a limited, nonexclusive license to use the Software in accordance with the terms of this agreement. All rights not expressly granted to you by this agreement are hereby reserved by the owner of the Software. Nothing in this license will entitle you to receive hard-copy documentation, technical support, telephone assistance, or updates to the Software. This agreement may be terminated at any time, for any reason or no reason. Upon termination, you agree to immediately destroy all copies of the Software in your possession or control. 3. Restrictions. You shall not: (i) modify, revise or create any derivative works of the Software; (ii) decompile, reverse engineer or otherwise attempt to derive the source code for the Software; (iii) redistribute, sell, rent, lease, sublicense, or otherwise transfer rights to the Software; or (iv) remove or alter any proprietary notices, legends, symbols or labels in the Software, including, but not limited to, any trademark, logo or copyright. Disclaimer of Warranty. THE SOFTWARE IS PROVIDED ON AN AS IS AND AS AVAILABLE BASIS WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGMENT. NO WARRANTY IS PROVIDED THAT THE SOFTWARE WILL BE FREE FROM DEFECTS OR VIRUSES OR THAT OPERATION OF THE SOFTWARE WILL BE UNINTERRUPTED. YOUR USE OF THE SOFTWARE AND ANY OTHER MATERIAL OR SERVICES DOWNLOADED OR MADE AVAILABLE TO YOU THROUGH THE SOFTWARE IS AT YOUR OWN DISCRETION AND RISK, AND YOU ARE SOLELY RESPONSIBLE FOR ANY DAMAGE RESULTING FROM THEIR USE. 18

20 4. Limitations of Warranty. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL LICENSOR, THE PROVIDER OF ANY FINANCIAL SERVICES AVAILABLE THROUGH OR RELATED TO THE SOFTWARE, ANY OF THEIR CONTRACTORS OR PROVIDERS OR ANY OF EACH OF THEIR AFFILIATES BE LIABLE FOR ANY DAMAGES ARISING OUT OF THE USE OR INABILITY TO USE THE SOFTWARE, INCLUDING BUT NOT LIMITED TO ANY GENERAL, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, EVEN IF ADVISED OF THE POSSIBILITY THEREOF, AND REGARDLESS OF THE LEGAL OR EQUITABLE THEORY (CONTRACT, TORT OR OTHERWISE) UPON WHICH ANY CLAIM IS BASED. IN ANY CASE, LIABILITY OF LICENSOR OR ANY OF THE OTHER PERSONS OR ENTITIES DESCRIBED IN THE PRECEDING SENTENCE ARISING OUT OF THE USE OR INABILITY TO USE THE SOFTWARE SHALL NOT EXCEED IN THE AGGREGATE THE LESSER OF $10.00 OR THE SUM OF THE FEES PAID BY YOU FOR THIS LICENSE. 5. U.S. Government Restricted Rights. The Software is commercial computer software subject to RESTRICTED RIGHTS. In accordance with 48 CFR (Computer software) or DFARS (Commercial computer software and commercial computer software documentation), as applicable, the use, duplication, and disclosure of the Software by the United States of America, its agencies or instrumentalities is subject to the restrictions set forth in this agreement. 6. Miscellaneous. This agreement constitutes the entire agreement between the parties concerning the subject matter hereof. This agreement will be governed by and construed in accordance with the laws of the state of California excluding that body of laws pertaining to conflict of laws. If any provision of this agreement is determined by a court of law to be illegal or unenforceable, such provision will be enforced to the maximum extent possible and the other provisions will remain effective and enforceable. All disputes relating to this agreement are subject to the exclusive jurisdiction of the courts of California and the parties expressly consent to jurisdiction and venue thereof and therein. The parties confirm that this agreement and all related documentation is and will be in the English language. The application of the United Nations Convention on Contracts for the International Sale of Goods is hereby expressly waived and excluded. 7. Content and Services. Neither Licensor nor the provider of the wireless network is the provider of any financial services available through or related to the Software, and neither Licensor nor the provider of the wireless networker any contractor of the provider of the financial services available through or related to the Software, is responsible for any of the materials, information, products or services made available to you via the Software. The following section contains information regarding the TIAA Direct Bill Payment Service provided by TIAA, FSB. This section applies to you if you use this service. TIAA DIRECT BILL PAYMENT SERVICE TERMS AND CONDITIONS Important - Please read carefully. By using the TIAA Direct Bill Payment Service you agree to be bound to the terms and conditions herein. Definitions Agreement shall mean all terms and conditions defined herein. Financial Institution, we, or us shall refer to TIAA Direct, a division of TIAA, FSB. Service shall mean the TIAA Direct Bill Payment Service offered by the Financial Institution and associated third party providers. You or Your or Subscriber shall mean each person who enrolls in the TIAA Direct Bill Payment Service or is otherwise authorized to use the Service. Payee shall mean the individual, business or other entity to which you intend to send a payment through the Service and for which you accurately provide and maintain the appropriate or required information such as name, bill remittance / payment delivery address, phone number, account number and account holder name; and to whom you authorize the Financial Institution to remit payments on your behalf through the Service. Payee List shall mean your personal list of Payees that you maintain within the Service and from which you may schedule Payments. Merchant shall mean any business Payee you establish within the Service for whom the Service provider has established a business relationship expressly for the purpose of remitting Payments from the Service. Funding Account shall mean the TIAA Direct checking or similar account for which you are an authorized signer, and from which the Financial Institution may debit or otherwise collect the funds necessary to remit the Scheduled Payment to the corresponding Payee, per your instructions. Fee Account shall mean the TIAA Direct checking or similar account for which you are an authorized signer, and from which the Financial Institution may automatically debit or otherwise collect all Service fees. Business Day shall mean every Monday through Friday, excluding Federal holidays. Scheduled Payment shall mean the payment instructions you establish within the Service in order to properly direct funds from the Funding Account you designate to the Payee you designate. One-Time Payment shall mean a Scheduled Payment that results in a single payment delivered to the Payee per your instructions. Recurring Payment shall mean a Scheduled Payment that results in a series of payments delivered to the Payee at regular intervals per your instructions, and shall continue to do so until you cancel it or until the maximum number of payments and/or final payment date that you specified is reached. Payment shall mean the specific single instance of a One-Time Payment or a specific instance of a Recurring Payment, as the case may be. Payment Amount shall mean the monetary figure you specify in a Scheduled Payment, including the regular amount and the final amount of a Recurring Payment series, that the Service shall remit to the Payee. Payment Date or Withdraw On Date or Withdrawal Date shall mean the Business Day on which you schedule the Payment to be debited from your Funding Account, unless this date falls on a non-business Day in which case it shall be the immediately preceding or following Business Day as indicated in the Scheduled Payment instructions that will be provided to you. In any case, it is the date on which sufficient available funds must exist in the Funding Account. 19

21 Due Date or Deliver By Date or Delivery Date shall mean the Business Day on which you schedule the Payment to be delivered to your Payee, unless this date falls on a non-business Day in which case it shall be the immediately preceding or following Business Day as indicated in the Scheduled Payment instructions that will be provided to you. In any case, it is the date you determine to be most appropriate to deliver payment to your Payee considering such factors as the Payee-specified date payment due, grace period, late payment policy or late fee, and/or your knowledge of actual time required for the Payee to receive and process the payment and to credit your account with the Payee, and/or the urgency/criticality of payment delivery, as the case may be. Cut-Off Time shall mean the time of day that Payments to be processed that day shall be processed, and after which time the earliest possible Payment Date or Withdraw On Date and Due Date or Deliver By Date shall be calculated from the next Business Day. Bill Payment Service - You may use the TIAA Direct Bill Payment Service, to direct the Financial Institution and/or Service provider to make payments from your Funding Account to the Payees you choose in accordance with this Agreement. The terms and conditions of this Agreement are in addition to the Account agreements, disclosures and other documents in effect from time to time governing your Funding Account. Service Guarantee - The Service provider will bear responsibility for any late payment related charges up to Fifty Dollars ($50.00) should a Payment post after the Scheduled Payment Due Date or Deliver By Date, provided that the Payment was scheduled and the Payee information was maintained in accordance with the guidelines described within this Agreement. Notwithstanding the foregoing, the Service provider shall not be responsible for any such charges if the Service provider does not have responsibility or liability for a Payment transaction, late payments or late payment related charges under the other provisions of this Agreement, including, without limitation, those payments described under the Exception Payments section below. Responsibility - The Service provider shall use commercially reasonable efforts to process the Scheduled Payments per your instructions. Neither the Service provider nor the Financial Institution shall be liable for any Payment transaction if: (i) you do not have enough money in your Funding Account to complete the transaction; (ii) a legal order prohibits withdrawals from your account; (iii) your Funding Account is closed or has been frozen, or is otherwise not authorized to debit the corresponding Payment Amount; (iv) the transaction would cause your balance to go over the credit limit for any credit arrangement set up to cover overdrafts; (v) you, or anyone you allow, commits fraud or violates any law or regulation in connection with the Services; (vi) any electronic terminal, telecommunication device or part of the electronic fund transfer system is not working properly; (vii) you did not provide complete and correct Funding Account, Payment or Payee information; (viii) you did not properly follow the instructions or terms and conditions for use of the Service; (ix) you knew and/or had been advised that Service was not operating properly at the time you scheduled the Payment; (x) there is a postal delay; or (xi) circumstances beyond the Service providers control (such as fire, flood or improper transmission or handling by a third party) that prevent, hinder or delay the transaction. With the exception of the foregoing, if the Service incorrectly debits your Funding Account and/or directs funds from your Funding Account to a Payee inconsistent with the instructions you specified in the Scheduled Payment, the Service shall, upon detecting the error or receiving notice from you, be responsible for returning the improperly transferred funds to your Funding Account and/or redirecting funds to the proper Payee and/or contacting the Payee to request appropriate adjustments on your account with the Payee except as otherwise provided under the Authorization section below. Liability - You will be responsible for any Payment request you make that contains an error or is a duplicate of another Payment. The Financial Institution and/or Service provider is not responsible for a Payment that is not made if you did not properly follow the instructions for making a Payment. The Financial Institution and/or Service provider is not liable for any failure to make a Payment if you fail to promptly notify the Financial Institution after you learn that you have not received credit from a Payee for a Payment. The Financial Institution and/or Service provider is not responsible for your acts or omissions or those of any other person, including, without limitation, any Payee or transmission or communications facility, and no such party shall be deemed to be the Financial Institution's and/or Service provider s agent. In any event, the Financial Institution and/or Service provider will not be liable for any special, consequential, incidental, or punitive losses, damages, or expenses in connection with this Agreement or the Service, even if the Financial Institution and/or Service provider has knowledge of the possibility of them. The Financial Institution and/or Service provider is not liable for any act, failure to act or delay in acting if it is caused, in whole or in part, by any cause beyond the Financial Institution s and/or Service providers reasonable control. Setting Up And Maintaining Payees - To begin using the Service you will first need to establish at least one Payee in your Payee List. You may add, modify or delete Payees as necessary. It is your responsibility to manage your Payee List and maintain accurate Payee information, such as but not limited to the address to which the Payee specifies Payments are to be delivered, your account number with the Payee, the name on your account with the Payee, etc, except where the Service expressly indicates that it shall manage such Payee information, such as a Merchant s remittance address. Payees must reside or exist within the United States of America or its territories or commonwealths. The Service provider and/or the Financial Institution reserve the right to refuse or remove a Payee for any reason. Setting Up Payments - To schedule Payments you must choose a Payee from your Payee List. You may schedule One-Time Payments and Recurring Payments to any of your Payees. It is your responsibility to cancel, skip, reschedule or revise a Scheduled Payment in accordance with the Payee's instructions to you, or as needed to ensure sufficient available funds in the corresponding Funding Account, or under circumstances where the Payee may return the Payment to the Service provider due to any reason outside the Service providers or the Financial Institution's control. Payments to Payees, businesses or individuals, outside the United States of America or its territories or commonwealths, are prohibited. Please see the Electronic Fund Transfers - Your Rights and Responsibilities section of the Terms and Conditions of your TIAA Direct deposit account for information about per-transaction and daily limits that may apply when you use the Service. The Service provider and/or the Financial Institution reserve the right to refuse or cancel a Payment for any reason. The earliest possible Payment Date / Withdraw On Date and Due Date / Deliver By Date for each Payee will be determined and presented by the Service when you schedule a Payment. The Service will not permit a Payment Date / Withdraw On Date or Due Date / Deliver By Date earlier than the earliest possible dates presented. The Service determines this earliest possible Payment Date / Withdraw On Date and Due Date / Deliver By Date based on the number of Business Days required to deliver a Payment to the Payee, which is primarily affected by whether or not the Payee has agreed to accept remittance of Payments electronically 20

22 (typically one or two (1 or 2) Business Days) or requires Payments be delivered by check (typically four or five (4 or 5) Business Days). A Payee s location or policies for posting and crediting payments may require additional Business Days. Payments scheduled after the Service's Cut-Off Time shall be processed no earlier than the following Business Day. Currently, the Cut-Off Time is 4:00 p.m. Eastern Time, but the Service provider and/or the Financial Institution may change the Cut-Off Time without prior notice. You should carefully consider factors such as the Payee's date payment due, grace period, whether the Payee's date payment due falls on a non-business Day, etc, when scheduling a Payment to avoid late payments and late fees. You must allow the necessary number of Business Days prior to the Payee's date payment due for each Payment, including each Payment of a Recurring Payment series. Some businesses take longer to post payments than others. You should consider allowing additional time for the initial Payment to a Payee through the Service in order to gauge the appropriate Payment Date / Withdraw On Date or Due Date / Deliver By Date in each case, and determine whether to allow an additional one (1) or two (2) business days to avoid incurring any late fee charged by the Merchant. It is your responsibility to schedule Payments appropriately and in accordance with the Payee's requirements. Neither the Service provider nor the Financial Institution shall be responsible for late payments, nor reimburse you for late fees, for any Payment delivered in accordance with your instructions, or as a result of a Payee's payment processing policies, or any other circumstance outside the Service provider s control. Expedited Payment Service - The expedited payment service (if made available) allows you to request expedited payments to a Payee. Depending on the recipient, payments may either be a same day electronic payment or a draft against your Funding Account sent overnight to the Payee. If a Payment cannot be expedited (cannot arrive at the Payee more quickly that would a standard payment), this service will not be offered. Once you have confirmed an expedited payment, you cannot edit, cancel or place a stop payment request on it. You will be charged a fee (see your TIAA Direct account Fee Schedule for details) if you elect to use this service. If an expedited payment that is properly submitted by you is received by the Payee later than the delivery date specified at the time the payment was scheduled, you may be eligible for a refund of any costs you may incur related to the payment not being received. Expedited electronic payments are available for a limited number of Payees based on Payee capabilities, time of day, payment delivery mechanisms and other factors. Expedited drafts for overnight delivery cannot be processed for PO Box addresses or locations in Alaska, Hawaii, or any foreign or U.S. territory outside the contiguous 48 states and District of Columbia. You are solely responsible for entering and verifying any address for overnight drafts to ensure that it is correct and is specified as a valid overnight package address by the Payee. Editing Or Canceling Payments - Any Payment other than an expedited payment confirmed by you, can be modified or canceled, provided you access the Service prior to the Cut-Off Time on the Business Day Payment is going to be processed. Once a Payment is in-process, it cannot be canceled through the Service. Instead, you must contact Customer Service to request a stop payment. Any Recurring Payment that is scheduled for a future date may be edited or canceled after processing for the current Payment instance is complete. Stop Payment - You may request to stop payment after a payment, other than an expedited payment confirmed by you, has been processed by contacting TIAA Direct Customer Service. The Service's ability to successfully stop payment depends on how the funds were remitted to the Payee and the elapsed time since the Payment was processed. The Service provider and the Financial Institution will make commercially reasonable efforts to stop payment per your request, but shall have no liability if unsuccessful. You may be charged a stop payment fee for each request. Exception Payments - Tax payments and court ordered payments may be scheduled through the Service; however such payments are discouraged and must be scheduled at your own risk. In no event shall the Financial Institution or Service provider be liable for any claims or damages resulting from you scheduling these types of payments. The Service provider shall have no obligation to research or resolve any claim resulting from any such payment. All research and resolution for any misapplied, misposted or misdirected payments will be your sole responsibility. Bill Payment Process - The Service will process Payments in accordance with the Payment instructions you provide. The Service will not process Payments on weekends or bank holidays. The Service will debit your Funding Account or issue a draft against your Funding Account, and deliver those funds to the designated Payee on your behalf such that the funds arrive as close to the scheduled Due Date / Deliver By Date as is reasonably practicable. Numerous business and technical requirements determine if a Payee can accept Payments electronically, but in all cases Payments can be remitted by check. The Service provider shall have sole discretion to determine the appropriate remittance method. In order to process Payments efficiently and effectively, or otherwise comply with Merchants remittance requirements, the Service reserves the right to change or update Payee data, or alter the method of Payment remittance. Neither the Service provider nor the Financial Institution shall be responsible for late payments, nor reimburse you for late fees, due to: a) U.S. postal delivery issues; b) electronic remittance network issues; c) your Payee s payment processing procedures; d) instances where the financial risk associated with the Payment requires check remittance instead of electronic remittance or additional Business Days to ensure sufficient funds in the Funding Account are available; or d) other circumstances beyond its control. Authorization - When you schedule a Payment, you expressly authorize the Service provider and/or the Financial Institution to withdraw from your Funding Account the Payment Amount and to remit those funds to the designated Payee on your behalf, and additionally to debit your Funding Account for any applicable Service related fees. You further authorize the Financial Institution to credit your Funding Account for any payment returned from or undeliverable to the Payee. In addition, you certify that the Funding Account is an account from which you are authorized to make payments and incur debits. You agree to have available and collected funds on deposit in the designated Funding Account in amounts sufficient to process each Payment as requested by you, as well as any other payment obligations you have to the Financial Institution. The Financial Institution reserves the right, without liability, to reject or reverse a Payment if you fail to comply with this requirement or any other terms of this Agreement. If you do not have sufficient funds in the Funding Account and the Financial Institution has not exercised its right to reverse or reject a Payment, you agree to pay for such Payment obligations on demand. You further agree the Financial Institution, at its option, may charge any of your accounts at the Financial Institution to cover such Payment obligations. You authorize the Service provider and the Financial Institution to contact your Payees to request appropriate adjustments consistent with your Payment instructions and/or as pertaining to the Service Guarantee and Responsibility, and/or to stop payment on any draft issued against your Funding Account in connection with the Service in the unlikely event that the Service 21

23 remits funds incorrectly to any of your Payees, and/or to withdraw funds from your Funding Account in such event if you otherwise receive the benefit of the amount of such incorrectly remitted funds. Returned Payments - In using the Service, you understand that Payments may be returned by or to the Service provider for various reasons including but not limited to: the account or account number at the Payee is not valid, the Payee address is not valid, the Payee returns or rejects the remittance item, the account at the Payee has been paid in full or has been turned over to another company or individual. The Service shall use commercially reasonable efforts to research and correct the returned payment, or void the payment and credit your Payment Account. You may receive notification from the Service. Account Security - You are solely responsible for controlling the safekeeping of and access to your user identification, password or other means to access your TIAA Direct account. You agree not to give out or make available your user identification, password, access code, authenticating image or other means to access your TIAA Direct account to any unauthorized individuals. You are responsible for all Payment transactions authorized by you or by anyone to whom you provide access to the Service or to your TIAA Direct account. You are liable for all Payment transactions you make or that you authorize another person to make even if that person exceeds his or her authority. Unauthorized Activity - Tell us at once if you believe that your user identification, password, access code, authenticating image or other means to access your account has been lost, stolen or otherwise compromised, or you believe that someone may attempt to use the Service without your consent or has transferred money without your permission, or if you suspect any fraudulent activity in your account(s). Telephoning us at is the best way to keep your losses down. You could lose all the money in your account (plus your maximum overdraft line of credit, if you have one). If you tell us within 2 business days after you learn of the loss or theft of your user identification, password, access code, authenticating image or other means to access your account, you can lose no more than $50 if someone used the Service without your permission. If you do not tell us within 2 business days after you learn of the loss or theft, and we can prove we could have stopped someone from using the Service without your permission if you had told us, you could lose as much as $500. Also, if your statement shows bill payments 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, 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 had you told us in time. Some Bill payments are processed by Electronic Fund Transfers (EFT). Please see the Electronic Fund Transfers - Your Rights and Responsibilities section of the deposit account Terms and Conditions that you received when you opened your account, it discloses important information concerning your rights and obligations. Disclosure Of Information - It is our policy to treat your TIAA Direct Bill Pay Service account information as confidential. However, Service provider and/or the Financial Institution may disclose certain information about you, your accounts and/or Payments to third parties in situations such as: when necessary to complete a Payment transaction per your instructions; when necessary to activate additional services per your request; in order to comply with government agency or court orders, financial services regulations or law; or if you give Financial Institution or Service provider written permission. Information submitted to the Service provider or its suppliers is the property of those parties, and they are free to use and disclose that information, or any ideas, concepts, know-how or techniques contained in that information to any third party for any purpose whatsoever, except as specifically agreed by the Financial Institution or prohibited by law. Links To Other Sites - Information that the Service provider or the Financial Institution publishes on the World Wide Web may contain links to other sites and third parties may establish links to Service's site. Neither the Service provider nor the Financial Institution makes any representations or warranties about any other web site that you may access to, from or through the Service. Unless expressly stated in writing, neither the Service provider nor the Financial Institution endorse the products or services offered by any company or person linked to this site nor is the Service provider or the Financial Institution responsible for any software or the content of any information published on the site of any third party. You should take precautions when downloading files from sites to protect your computer software and data from viruses and other destructive programs. Virus Protection - Neither the Service provider nor the Financial Institution is responsible for any electronic virus that you may encounter using the Service. You are encouraged to routinely scan your computer and files using reliable virus protection products to detect and remove viruses. If undetected and unrepaired, a virus can corrupt and destroy your programs, files and hardware. Damages And Warranties - In addition to the terms previously disclosed, The Financial Institution and/or Service provider are not responsible for any losses, errors, injuries, expenses, claims, attorney's fees, interest or other damages, whether direct, indirect, special, punitive, incidental or consequential, (collectively, Losses ) caused by the use of the Bill Payment Service. Without limiting the foregoing, neither Financial Institution and/or Service provider nor its suppliers shall be liable for any: (i) failure to perform or any Losses arising out of an event or condition beyond their reasonable control, including but not limited to communications breakdown or interruption, acts of God or labor disputes; or (ii) the loss, confidentiality or security of any data while in transit via the Internet, communication lines, postal system or electronic funds transfer networks. Financial Institution and/or Service provider and its suppliers provide Bill Payment Services from their own locations and they make no representation or warranty that any information, material or functions included in Bill Payment Services are appropriate for use by you in your jurisdiction. If you choose to use Bill Payment Services, you do so on your own initiative and are solely responsible for compliance with applicable local laws and regulations. Neither Financial Institution nor Service provider nor its suppliers warrant the adequacy, accuracy or completeness of any information provided as a part of Bill Payment Services, or contained in any third party sites linked to or from Financial Institution and/or Service provider s web sites. FINANCIAL INSTITUTION AND SERVICE PROVIDER MAKE NO REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY, FUNCTIONALITY OR PERFORMANCE OF BILL PAYMENT SERVICE, OR ANY SOFTWARE THAT MAY BE USED IN CONNECTION WITH SAME. FINANCIAL INSTITUTION AND SERVICE PROVIDER DISCLAIM ANY EXPRESS OR IMPLIED WARRANTIES, INCLUDING ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR ERROR-FREE OPERATION. Indemnification - Subscriber shall indemnify, defend and hold harmless the Financial Institution and Service provider and their affiliates, officers, employees, directors, suppliers and agents, in their individual capacities or otherwise, from and against any Losses arising out of: (i) Subscriber's negligence; (ii) Subscriber's failure to comply with applicable law; or (iii) Subscriber's failure to comply with the terms of this Agreement. 22

24 Additional Remedies - Due to the likelihood of irreparable injury, the Financial Institution and Service provider shall be entitled to an injunction prohibiting any breach of this Agreement by Subscriber. Amendment And Termination - The Financial Institution and Service provider reserve the right to terminate this Service or to change the charges, fees or other terms described in this Agreement at any time. When changes are made, you will be notified by: 1) electronic mail; 2) physical mail at the address shown in our records; 3) update of our web site; and/or 4) as otherwise permitted by law. Your continued use of the Service after being notified of changes to this Agreement shall constitute your agreement to such changes. You may terminate this Service by calling the Financial Institution. Neither the Financial Institution nor Service provider is responsible for terminating any scheduled One-Time Payment nor Recurring Payment processed prior to a reasonable opportunity to act on your termination notice. Once your Service is terminated, all of your scheduled One-Time Payments and Recurring Payments shall be terminated as well. You remain obligated for all Payments made by the Service on your behalf under this Agreement. Applicable Rules, Laws, And Regulations - You submit to the jurisdiction of, and this Agreement shall be governed by the laws of, the State of Florida, U.S.A., as well as the federal laws of the U.S.A. Assignment - The Financial Institution and Service provider may assign its rights and/or delegate all or a portion of its duties under this Agreement to a third party. Subscriber may not assign this Agreement to any other party. Integration - This Agreement constitutes the entire understanding of the parties with respect to the subject matter of this Agreement, and all prior agreements, understandings and representations concerning such subject matter are canceled in their entirety. Notwithstanding the foregoing, this Agreement is in addition to any other agreements between you and the Financial Institution. Disputes - In the event of a dispute regarding the Service, you and the Financial Institution agree to resolve the dispute by looking to this Agreement. You agree that this Agreement is the complete and exclusive statement of the agreement between you and the Financial Institution which supersedes any proposal or prior agreement, oral or written, and any other communications between you and the Financial Institution relating to the subject matter of this Agreement. If there is a conflict between what is said by an employee or agent of the Financial Institution, and the terms of this Agreement, the terms of this Agreement shall prevail. Waiver - The Financial Institution and Service provider shall not, by the mere lapse of time, without giving notice or taking other action, be deemed to have waived any of its rights under this Agreement. No waiver by Financial Institution and/or Service provider of a breach of this Agreement shall constitute a waiver by such party of any prior or subsequent breach of this Agreement. Force Majeure - Neither party shall be liable for any loss nor damage due to causes beyond its control, including fire, explosion, lightning, pest damage, power surges or failures, strikes or labor disputes, water, acts of God, the elements, war, civil disturbances, acts of civil or military authorities or the public enemy, inability to secure raw materials, transportation facilities, fuel or energy shortages, acts or omissions of communications carriers, or other causes beyond that party's control. Either party may terminate this Agreement immediately on written notice if the other party is prevented from performing its obligations under this Agreement for a period of more than thirty (30) days due to the reasons set forth in this subsection. Construction - This Agreement shall be construed equally against the parties regardless of who is more responsible for its preparation. If there is a conflict between a part of this Agreement and any present or future law, the part of this Agreement that is affected shall be curtailed only to the extent necessary to bring it within the requirements of that law. Headings And Captions - The headings and captions of the various subdivisions of this Agreement are for convenience of reference only and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof DWK05100 (Eff 04/17) 1988, 1992, 1995 Wolters Kluwer Financial Services Bankers Systems Form AIB-TIS 8/4/95 Custom TCM-27t,2bg,3o,8d,4t,5 23

25 TIAA, FSB PO Box 2140 Cranberry Township, PA Deposit Rate Disclosure Effective as of: 4/2/2018 Interest Checking Minimum opening deposit: $100 If your balance is: $0 - $1, $1,500 - $9, $10,000 - $24, $25,000 - $99, $100,000 + Rate 1 APY* Rate 1 APY* Rate 1 APY* Rate 1 APY* Rate 1 APY* Interest Checking Account 0.25% 0.25% 0.25% 0.25% 0.46% 0.46% 0.61% 0.61% 0.71% 0.71% High Yield Savings Minimum opening deposit: $100 If your balance is: $0 - $99.99 $100 - $9, $10,000 - $24, $25,000 + Rate 1 APY* Rate 1 APY* Rate 1 APY* Rate 1 APY* High Yield Savings Account 0.71% 0.71% 0.71% 0.71% 0.71% 0.71% 0.71% 0.71% Money Market Minimum opening deposit: $2,500 If your balance is: $0 - $2, $2,500 - $24, $25,000 - $49, $50,000 - $99, $100,000 + Rate 1 APY* Rate 1 APY* Rate 1 APY* Rate 1 APY* Rate 1 APY* Money Market Account 1.04% 1.05% 1.09% 1.10% 1.14% 1.15% 1.24% 1.25% 1.34% 1.35% Certificates of Deposit 2 Minimum opening deposit: $1,000 If your opening deposit is: $0 - $99, $100,000 - $249, $250,000 + Rate 1 APY* Rate 1 APY* Rate 1 APY* 6 months 1.44% 1.45% 1.44% 1.45% 1.44% 1.45% 9 months 1.59% 1.60% 1.59% 1.60% 1.59% 1.60% 12 months (1 year ) 2.08% 2.10% 2.08% 2.10% 2.08% 2.10% 13 months 1.00% 1.01% 1.00% 1.01% 1.00% 1.01% 18 months 2.21% 2.23% 2.21% 2.23% 2.21% 2.23% 24 months (2 years) 2.32% 2.35% 2.32% 2.35% 2.32% 2.35% 25 months 1.07% 1.08% 1.07% 1.08% 1.07% 1.08% 30 months 2.27% 2.30% 2.27% 2.30% 2.27% 2.30% 36 months (3 years) 2.47% 2.50% 2.47% 2.50% 2.47% 2.50% 48 months (4 years) 2.57% 2.60% 2.57% 2.60% 2.57% 2.60% 60 months (5 years) 2.66% 2.70% 2.66% 2.70% 2.66% 2.70% *Annual Percentage Yield 1 The interest rate and Annual Percentage Yield (APY) assigned will be those in effect at the end of the day that your initial deposit is credited. For Interest Checking, High Yield Savings and Money Market accounts, rates may change after account opening. For Certificates of Deposit, rates are fixed for the entire term of the account. For all accounts, interest is compounded daily based on the rate in effect at the end of the day and credited to the account monthly. Fees may reduce earnings on the account. 2 Your CD will not be opened until the day your initial deposit is credited to your account. The term you selected (for example, 6 months) will begin on the day your initial deposit is credited to the account, and you will receive the interest rate in effect on that day. There may be a penalty for early withdrawal of any portion of the amount you deposit. Withdrawals may reduce earnings. Rates are subject to change. For updates, please visit or call TIAA Direct is a division of TIAA, FSB. Member FDIC. Equal Housing Lending 2018 and prior years TIAA, FSB. DWK /2018

26 Fee Schedule Effective as of: 07/09/2017 Account Usage Fee Name Fee Explanation MonthlyMaintenance Fee $0 There is no monthly fee for maintaining your account with us. US ATM Withdrawal Fee (in Allpoint, MoneyPass or SUM networks) $0 Conduct your withdrawal at one of the Allpoint, MoneyPass or SUM network ATMs in the US and you will not be charged a fee. To find a network ATM near you visit > Find an ATM. US ATM Withdrawal Fee (other than Allpoint,MoneyPass or SUM networks) Up to $15 in US ATM usage fees charged by the ATM Operator will be reimbursed each month. TIAA Direct will not charge you a fee for using an ATM that is not part of the Allpoint, MoneyPass or SUM networks. However, the Operator of the out-ofnetwork ATM may choose to charge you a fee. International ATM and Purchase Fees Cash Withdrawal from ATM: $2 + 2% of withdrawal amount MasterCard Debit Card foreign purchases: 2% of charged amount When cash is withdrawn from an ATM outside of the US, you will be subject to a fee of $2 plus 2% of the withdrawal amount. The ATM Operator may also assess a transaction fee. If you use your debit card to make a purchase outside of the US, you will be subject to a fee of 2% of the charged amount. ATM or Debit Card Replacement $0 for normal delivery $25 for rush delivery When you request that a replacement ATM or Debit Card be issued and sent to you via expedited delivery you will be charged a fee. Bill Pay Service $0 You may utilize the Bill Pay service to pay your bills electronically from an Interest Checking Account. You may set-up one-time or recurring payments. Check Orders 40 checks included for free for Interest Checking and Money Market accounts Subsequent check orders will be subject to a fee. Overnight Check $25 This fee applies when you request via our Bill Pay Service for us to pay a bill via overnight check (subject to cutoff times). Official Check $5 This fee applies when you request a check that represents certified or guaranteed funds. Outgoing Wire Transfer Domestic only: $20 This fee applies when you request funds to be wired from your TIAA Direct account to another financial institution. Incoming Wire Transfer $0 TIAA Direct does not charge for wiring funds into your TIAA Direct account. Stop Payment Fee $25 TIAA Direct will charge $25 to stop the payment of a check or electronic transaction. Returned Deposited Item $10 per item; maximum $50 per day This fee applies when an item that is credited to your account is returned to us. Excessive Transaction Charge $5 per transaction above established limits. You are generally limited to six (6) transfer or withdrawal transactions from your High Yield Savings or Money Market account per monthly statement cycle, subject to certain exceptions. Each applicable transfer or withdrawal above the limit is subject to the fee. Certificates of Deposit Early WithdrawalPenalties 90 days of interest if your CD has a term of one year or less 180 days of interest if your CD has a term of more than one year up to and including three years 270 days of interest if your CD has a term greater than three years If you withdraw principal from your CD before it matures you may be charged an early withdrawal penalty. The amount of the penalty is based on the term of your CD. Non-sufficient Funds (NSF) Fee $25 per item; maximum $75 per day. We will charge this fee when we return an item as unpaid due to insufficient funds in your account. Overdraft Fee $0 No fee is charged if you don t have enough money in your account to cover a transaction and we choose to pay it. Overdraft Protection(ODP) Transfer $0 Once you re enrolled in TIAA Direct s Overdraft Protection service, it will automatically kick in if your Interest Checking account is overdrawn due to payments. Overdraft Protection does not cover overdrafts resulting from cash withdrawals at ATMs. Transfers are made in multiples of $100. Page 1 of 2