Notice of Expiration of the Temporary Full FDIC Insurance Coverage for Non-interest Bearing Transaction Accounts 

By operation of federal law, beginning January 1, 2013, funds deposited in a non-interest bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor’s accounts at an insured depository institution, including all non-interest bearing transaction accounts, will be insured by the FDIC up to the standard maximun deposit insurance amount ($250,000), for each deposit insurance ownership category.

Community Reinvestment Act Notice 

Under the Federal Community Reinvestment Act (CRA), the Federal Deposit Insurance Corporation (FDIC) evaluates our record of helping to meet the credit needs of this community consistently with safe and sound operations. The FDIC also takes this record into account when deciding on certain applications submitted by us.

Your involvement is encouraged.

You are entitled to certain information about our operations and performance under the CRA, including, for example, information about our branches, such as their location and the services provided at them; the public section of our most recent CRA Performance Evaluation, prepared by the FDIC; and comments received from the public relating to our performance in helping to meet community credit needs as well as our responses to those comments. You may review this information today.

At least 30 days before the beginning of each quarter, the FDIC publishes a nationwide list of banks that are scheduled for CRA examination in that quarter. This list is available from the Regional Director, FDIC Division of Depositor and Consumer Protection, Chicago Regional Office, 300 South Riverside Plaza, Suite 1700, Chicago, IL 60606. You may send written comments about our performance in helping meet community credit needs to Ronald J. Beacom, Retail Lending Officer, 2701 I-75 Business Spur, Sault Ste. Marie, MI 49783 and the FDIC Regional Director. You may also submit comments electronically through the FDIC’s website at www.fdic.gov/regulations/cra. Your letter, together with any response by us, will be considered by the FDIC in evaluating our CRA performance and may be made public.

You may ask to look at any comments received by the FDIC Regional Director. You may also request from the FDIC Regional Director an announcement of our applications covered by the CRA filed with the FDIC. We are an affiliate of Old Mission Bancorp, Inc., a bank holding company. You may request from the Federal Reserve Bank of Minneapolis, 90 Hennepin Ave., P.O. Box 291, Minneapolis, MN 55480-0291 an announcement of applications covered by the CRA filed by bank holding companies.

Annual Disclosure Statement

The Federal Deposit Insurance Corporation required FDIC-insured State-Chartered Banks that are not members of the Federal Reserve System to prepare, and make available upon request, annual disclosure statements of the bank’s financial condition. 

In keeping with this regulation, copies of our annual disclosure statement may be obtained throughout the year. To obtain one free, write or call: 

Catherine E Chenoweth, SVP/CFO
Old Mission Bancorp
2701 I-75 Business Spur
PO Box 904
Sault Ste. Marie, MI 49783
(906) 253-8011

Important Information about Procedures for Opening an Account 

The USA PATRIOT Act requires banks to take extra security precautions to help fight the funding of terrorism and money laundering activities. These precautions are also designed to help prevent crimes such as identity theft and account fraud. We are required to obtain, verify, and record information that will verify the identity of each person who opens an account. These procedures apply to individual, business, trust, and estate customers.

What this Means for You

When you open an account of any type, we will ask for your name, physical address, tax identification number, and date of birth. We are required by law to gather this information. We will also ask for documents (such as your driver’s license) that will help us verify your identity. In some cases, we may use outside sources to confirm the information we obtain from you.

As always, you information will remain confidential and protected by law and our own privacy policy. Thank you for your cooperation and for trusting us to provide your banking services.

Notice to Inquirers and Loan Applicants 

You have a right to submit a written application for a mortgage loan or a home improvement loan or to request written information concerning typical loan terms that we are currently offering on mortgage loans and home improvement loans. It is illegal to establish a minimum mortgage amount of more than $10,000.00. It is illegal to deny a loan or vary the terms and conditions of a loan because of racial or ethnic trends or characteristics of the neighborhood or the age of the structure, but not because of its physical condition. If your application for a loan is rejected, you have a right to a written statement of the reason for the rejection. If you are granted a loan but the amount required for down payment, the interest rate, term to maturity, application procedure, or other terms or conditions of the loan vary from terms or conditions offered in other neighborhoods, you have a right to a written statement of the reasons for the variation. The rights described in this notice are set forth in and limited by the Mortgage Lending Practices Act. If you believe that your rights and/or this act have been violatied, you should contact the Financial Institution Bureau of the Michigan Department of Commerce at (517) 373-3460.

Funds Availability Policy 

NOTICE: In accordance with Federal Regulation CC, we are informing you of our policy regarding your rights to draw funds against deposits you have made to any transaction account at our institution. Our Funds Availability Policy is outlined below: 

YOU SHOULD KNOW THAT: In general, our policy is to make funds from your deposits available to you on the first business day after the day we receive your deposit. At that time, you can withdraw the funds in cash, and we will use the funds to pay checks that you have written.

For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit after 6 P.M. Monday through Friday, or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

In some cases, we may delay your ability from withdraw funds beyond the first business day. Then, the funds will general be available by the second business day after the day of deposit. A copy of our detailed Funds Availability Policy is available upon request from any Customer Service Representative. 

Equal Housing Lender

We do business in Accordance with Fair Lending Laws

UNDER THE FEDERAL FAIR HOUSING ACT, IT IS ILLEGAL, ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, RELIGION, SEX, HANDICAP, OR FAMILIAL STATUS (HAVING CHILDREN UNDER THE AGE OF 18) TO:

Deny a loan for the purpose of purchasing, constructing, improving, repairing, or maintaining a dwelling, or to deny any loan secured by a dwelling; or discriminate in fixing the amount, interest rate, duration, application procedures, or other terms or conditions of such a loan, or in appraising property. 

IF YOU BELIEVE YOU HAVE BEEN DISCRIMINATED AGAINST, YOU SHOULD SEND A COMPLAINT TO:

For processing under the Federal Fair Housing Act:

Assistant Secretary of Fair Housing and Equal Opportunity
Department of Housing & Urban Development
Washington, DC 20410

For processing under FDIC Regulations:

Division of Compliance and Consumer Affairs
Federal Deposit Insurance Corporation
Washington, DC 20429-9990 

UNDER THE EQUAL CREDIT OPPORTUNITY ACT, IT IS ILLEGAL TO DISCRIMINATE IN ANY CREDIT TRANSACTION:

On the basis of race, color, national origin, religion, sex, marital status, or age, because income is from public assistance, or because a right was exercised under the Consumer Credit Protection Act.

IF YOU BELIEVE YOU HAVE BEEN DISCRIMINATED AGAINST, YOU SHOULD SEND A COMPLAINT TO:

Division of Compliance and Consumer Affairs
Federal Deposit Insurance Corporation
Washington, DC 20429-9990

We make it easy with our switch kit in PDF.
Email one of our representatives today or call 1-888-998-1662 during normal working hours.