A guide to account updates

Transcription

1 A guide to account updates

2 Here at Lake Sunapee Bank, we recently completed a merger with Bar Harbor Bank & Trust, uniting two northern New England banks with deep commitments to community banking and outstanding customer service. We were fortunate to find a partner who shares our principles, and values the local bonds we have established. In the following pages, you will find everything you need to know about our exciting new products and services. The merger has allowed us to grow stronger while staying local, retaining our name, and honoring our commitment to you, your family, and your community. Table of Contents What You Need to Know...3 Personal Checking...6 Business Checking....8 Savings Accounts Borrowing Solutions...13 Wealth Management, Insurance, and Investments Questions? Call us at or visit your local branch.

3 Bringing our two banking organizations together has created an opportunity to carefully examine our products and services and make some significant enhancements that will become effective on May 22, For a smooth transition as we upgrade your banking experience, please note several key items requiring your attention. Branches All Lake Sunapee Bank branches will remain open, operating as a division of Bar Harbor Bank & Trust. They will continue to be staffed by the same friendly, helpful, and knowledgeable people you have come to know and trust to handle your banking needs. Transition Weekend (Friday, May 19 through Monday, May 22) Branches typically open on Saturdays will be closed on May 20 while we update our operating systems. You may experience some access interruptions at ATMs and when using your VISA Debit card. Telephone Banking will not be available. Access to Online and Mobile Banking will be limited to inquiry only, reflecting balances as of May 18, We sincerely apologize for any inconvenience this may cause. That s why you may want to have available a secondary form of payment, such as cash or checks, during the transition weekend. Also, you may want to plan ahead for any online transactions you wish to make. Founded in 1887, Bar Harbor Bank & Trust is a full-service community bank offering a wide range of financial services for individuals, families, businesses, and non-profit organizations. Featuring 14 convenient branch locations along the coast of Maine, we recognize, appreciate, and support the unique people and culture in the places they call home. 3

4 Account Numbers Only a handful of account numbers are changing. If your account number is changing, you would have already been notified. Otherwise, your account number is not changing. Checks: You can continue to use your current checks as you always have. ATM/Debit cards: You can continue to use your current ATM or VISA Debit card as you always have. Direct Deposits and Automatic Payments: There will be no interruption of these services. New Routing Number: To prevent any future disruption in direct deposits and automatic payments, as of May 22, 2017 we encourage you to provide this new Routing Number to your direct deposit sources (like an employer or Social Security) and to recipients of automatic payments from your checking account (like utilities or insurance companies). Alert Center As of May 19, 2017 this service is being suspended. A new notification and verification system, which will provide additional protection against card fraud, is under development. Service Fees Please review the list of service fees found in the enclosed Account Agreement and Disclosures booklet, as some fees are changing. 4 Questions? Call us at or visit your local branch.

5 Checking Account Statements You will receive a statement as of May 18, This will occur regardless of your current cycle. After May 22, you will begin receiving a statement on a regular basis. The timing of your new account statement may change, depending on which checking account product you are using. Overdraft Protection Your overdraft coverage from a line of credit or a linked savings account will continue. However, the limits for Overdraft Protection service have changed from what you currently have (please see the grid below). ACCOUNT TYPE LIMIT ACCOUNT TYPE LIMIT Edge Account Not Offered Simple Checking $500 Preferred Checking $800 E-Choice Checking $500 Online and Mobile Banking The ID and PIN you use to log onto the system are not changing. If you are a Mobile Banking user, you will be prompted to download our new app. Coming soon! A new, more secure, website for the entire company, located at FDIC Insurance Coverage Bar Harbor Bank & Trust and Lake Sunapee Bank, a division of Bar Harbor Bank & Trust, exist as one institution for FDIC insurance purposes. $250,000 is the standard limit of federal deposit insurance coverage for a depositor at a single bank in each ownership category. FDIC has a special rule that says when two banks merge, a customer s deposits will be considered to be separately insured as if the two banks are still operating separately for at least six months and possibly longer for certificates of deposit (CDs) tied to the maturity date. The six-month grace period will end on July 13, If your combined deposit balance exceeds $250,000, please contact us to review available options. More information about FDIC deposit insurance can be found at: 5

6 Our new lineup of checking accounts and electronic services makes paying others a breeze. Keep your money safe, but easily accessible in one of our attractive new checking account options sure to fit every lifestyle. And, don t forget, you can now do your banking at 14 additional branches along the coast of Maine! Introducing E-Choice Checking If you enjoy the convenience of using a debit card and online banking, then consider E-Choice Checking! Earn a premium interest rate on the first $10,000 in your account just by meeting all the monthly qualifiers each statement cycle. When you do, you will also receive up to $25 in non BHBT or LSB ATM fee refunds for that statement cycle. Sign up and remain enrolled in estatements and the $6 monthly service charge is waived! Monthly qualifiers include: ūūuse your VISA Debit card for at least 12 purchases (excludes pending and ATM transactions), and ūūhave at least one electronic (ACH) credit or debit on the account, and ūūaccess Online Banking at least once during the statement cycle, and ūūsign up and remain enrolled in estatements. 6 Questions? Call us at or visit your local branch.

7 Current Product Names New Product Name Key Features Effective May 22, 2017 Edge Account Edge Checking Completely electronic account. Avoid a $10 monthly paper statement fee by signing up for estatements. VISA Debit card access, no checks available. Protects from costly overdraft fees. $1 fee for over-the-counter withdrawals. Essential Checking echecking Basic Checking Student Checking Senior Checking Paycheck Plus Forever Free Checking TNB* Common Sense Checking Relationship Checking Otter Rewards Checking NOW Admiral NOW Navigator NOW Checking Simple Checking Preferred Checking No monthly service charge, no minimum balance. Check images not included in statement for accounts opened on or after May 22, Avoid an $8 monthly service charge in one of three ways: ūūmaintain an average daily balance of $500 or more in this account, or ūūmaintain a combined balance of $50,000 or more in all consumer deposit accounts, or ūūmaintain a total consumer loan balance of $100,000 or more. Earns tiered interest rates on all balances. Complimentary first order of checks with new account. Check images available. Health Savings Account Health Savings Account No monthly service charge; no set-up fee. Tiered interest rate. Please refer to the Account Agreement and Disclosures booklet for more information and an updated Fee Schedule and Privacy Notice. *TNB The Nashua Bank, has transitioned to Lake Sunapee Bank, a division of Bar Harbor Bank & Trust. 7

8 A Business Checking account helps keep the revenue and expense side of your business in good order. Our diverse lineup of affordable new Business Checking accounts assures you will find one to meet all your needs. Current Product Names New Product Name Key Features Effective May 22, 2017 Business Essential Checking Business Checking Small Business Checking TNB* Business Interest Checking Business Interest Checking NOW Business Checking Business Checking with Interest Easy Business Checking Relationship Business Checking Business Interest Checking No monthly service charge. First 25 checks paid/items deposited per statement cycle are free, $0.25 per check paid/item deposited thereafter. No check images available. Avoid a $10 monthly service charge in one of two ways: ū ū$5,000 average daily balance, or ū ū$25,000 outstanding loan balance. First 100 checks paid/items deposited per statement cycle are free, $0.25 per check paid/item deposited thereafter. Check images available. Avoid a $10 monthly service charge by maintaining a $15,000 average daily balance. Earns tiered interest rates on all balances. First 50 checks paid/items deposited per statement cycle are free, $0.25 per check paid/item deposited thereafter. Check images available. 8 Questions? Call us at or visit your local branch.

9 Current Product Names New Product Name Key Features Effective May 22, 2017 Commercial Checking Business Plus Checking Non-Profit Checking Non-Profit Addendum Checking TNB* Non-Profit Checking Municipal Checking Non-Profit NOW Prime Checking Non-Profit Savings Commercial Checking Non-Profit Checking Earnings credit may offset a $10 monthly service charge and fees. No deposit item fee, no charge for electronic credits. Per deposit fee of $0.50; $0.25 per check paid. Check images available. No monthly service charge. Check images available. Please refer to the Account Agreement and Disclosures booklet for more information and an updated Fee Schedule and Privacy Notice. *TNB The Nashua Bank, has transitioned to Lake Sunapee Bank, a division of Bar Harbor Bank & Trust. Your relationship with your local banker is a valuable resource. Now with greater lending strength, we are better equipped to help you start or grow your business. Contact one of our Business Bankers today. 9

10 Saving money gives you peace of mind, expands your options in life, and paves the way to a more comfortable retirement. Lake Sunapee Bank offers a wide variety of savings accounts with varying terms, the security of FDIC insurance, and the convenience and safety of online statements. When you are ready to start saving, we can help. Current Product Names New Product Name Key Features Effective May 22, 2017 Savings Statement Savings Common Sense Savings TNB* Business Savings estatement Savings Savings Transfer Club Tax Savings Money Market Executive Business Money Market Business Money Market Collateral TNB* Business Money Market TNB* Common Sense Money Market Passbook Common Sense Passbook Statement Savings Savings Transfer Club Money Market Passbook Savings Avoid a $3 monthly service charge: ūūby maintaing a $100 average daily balance, or ūūif the primary account holder is a minor or a student under age 22, or ūūif your savings account statement is combined with your checking account statement. Tiered interest rate. ATM card available. No monthly service charge. Earns interest. Avoid a $10 monthly service charge by maintaining a $1,000 average daily balance. Tiered interest rate. Check images and ATM or VISA Debit card available. No new accounts being offered. *TNB The Nashua Bank, has transitioned to Lake Sunapee Bank, a division of Bar Harbor Bank & Trust. 10 Questions? Call us at or visit your local branch.

11 Bar Harbor Bankshares is proud to be recognized as one of America s top banks in

12 It starts with your vision. We are ready to help you see it through to reality. 12 Questions? Call us at or visit your local branch.

13 For your business or for your personal needs, we offer a broader range of borrowing options. Commercial Lending Greater lending strength for your business is now available from your local community bank. Our experienced Business Bankers provide creative financial solutions for businesses of all sizes with decisions made locally. When you re ready to start or grow your business, purchase new equipment, or just need some extra cash to get through the lean times, we make it quick and easy to get the financing you need. Our dedicated Business Bankers work on your schedule where you do business and provide quick response times. We have in-depth expertise in a broad range of industries as well as experience with various small business financing programs. We are an SBA Preferred Lender. Call us today to get started. Vehicle Loans Need a loan to purchase an automobile, truck, boat, motorcycle, recreational, or farm vehicle? New or used, we provide financing to get you moving in the right direction. A rate discount is provided for hybrid vehicles. A wide variety of personal loans, including an overdraft line of credit linked to your checking account, is also available. Mortgage Loans We know northern New England and we know home mortgages. Our local Mortgage Lenders will help you choose the right mortgage solution from a flexible new array of mortgage loan products. You will enjoy outstanding personal service from application through closing. We service 99% of our mortgages, so we are with you for the life of your loan. Start your application online today. 13

14 , We believe everyone deserves to feel confident and secure in their financial future. That s why we offer additional non-bank products and services, making it easier for you to grow, protect, and transfer your wealth. We invite you to expand your relationship with us. Just give us a call! If you already work with one or more of these companies, rest assured, there is no change expected in the way your services are provided currently. Charter Trust Company provides trust administration, investment management, and financial advisory services for individuals, businesses, non-profit organizations, and municipal clients throughout northern New England. We ve been helping clients create and manage their wealth since Our team of seasoned professionals is focused on achieving your financial goals. Call us at Charter Trust Company is a subsidiary of Bar Harbor Bank & Trust. Investment products are not deposits or obligations of the Bank, are not FDIC insured, are not guaranteed by the Bank and are subject to investment risk, including possible loss of value or principal amount invested. McCrillis & Eldredge Insurance is an independent insurance agency providing quality protection to businesses, individuals, and families since 1890 with superior local service and quality insurance solutions. Need insurance for your home, auto, life, and business? We take the time to carefully evaluate your needs and provide you with coverage you understand. As an independent agency, we offer a custom blend of options at affordable prices from multiple insurance companies. Talk with one of our Trusted Choice agents today. Call us at Insurance products are not deposits or other obligations of, or guaranteed by the bank, or an affiliate of the bank. Insurance products are not insured by the FDIC, or any other agency of the United States, the bank, or any affiliate of the bank. Insurance products may involve investment risk, including the possible loss of value. Insurance products are offered through McCrillis & Eldredge Insurance, a subsidiary of Bar Harbor Bank & Trust. 14 Questions? Call us at or visit your local branch.

15 Bar Harbor Financial Services is a branch office of Infinex Investments, Inc., an independent registered brokerdealer offering securities and insurance products. Enjoy local service with national expertise and resources. Talk with one of our Financial Consultants about your personal financial goals, and they will help you develop a sensible investment approach that matches your unique situation. Call us at Bar Harbor Financial Services is a branch office of Infinex Investments, Inc., an independent registered broker-dealer offering securities and insurance products which is not affiliated with Bar Harbor Bank & Trust. Investment and insurance products are offered through INFINEX INVESTMENTS, INC. Member FINRA / SIPC. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of, nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value. Not a Deposit Not Insured by Any Federal Government Agency Not FDIC Insured Not Guaranteed by the Bank May Lose Value 15

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