Online Services Agreement

This Online Services (“Agreement”) states the terms and conditions for Mascoma Bank’s (the “Bank”) online services. In this Agreement, “you,” “your,” and “yours” refer to the person(s), business or entity that holds the account. The words “Bank,” “we,” “our,” and “us” mean Mascoma Bank.

Internet and Mobile Banking Services

The Internet and Mobile Banking service allows you to:

  1. View items and obtain account information, balances, statement copies and history;
  2. Transfer funds electronically between Mascoma accounts and to accounts at other financial institutions;
  3. Obtain certain Bank product and service information, such as reorder checks, request photocopy or account research;
  4. Receive electronic communication such as account alerts, secured email, and e-statements;
  5. Access bill pay services and Person to Person transactions (separate registration required); and
  6. Utilize personal financial management software.

Collectively, these services are referred to as “Online Services.” Notification of the availability of additional services will be made on the Bank’s web site: www.mascomabank.com.

Acceptance of the Agreement

When you use any of the Online Services described in this Agreement, or authorize others to use them, you agree to the terms and conditions of this Agreement. You agree that the Bank may act on the verbal, written, or electronic instructions of any account owner(s), authorized signer, or Company Administrator.

Accessible Accounts

You may register any type of account held at the Bank for access through Internet and Mobile Banking. When Internet and Mobile Banking is linked to one or more joint accounts, we may act on the instructions of any owner or authorized signer regarding those accounts. Each person on a joint account will be liable for

all transactions that are made on that account by all other joint account holders of the account. It is your responsibility to notify us if a signer should no longer be given access to the joint account through Internet and Mobile Banking. Notices sent to the address of one account owner are binding on all account owners.

Other Bank Agreements

Your use of any Online Services is affected by the agreements between you and us for your deposit and other linked accounts. Therefore, the terms and conditions in the Agreement are in addition to the Personal Accounts and Services brochure, the Fee and Service Charge Schedules, and any other credit agreements you have with us, as well as applicable rules and regulations. You should review those agreements for any fees or applicable limitations on the number of transfers you can make, and for other restrictions that may affect your use of these Online Services.

Website Content and Links to Other Websites

Internet and Mobile Banking is provided through our website and mobile app, which may include news, information, stock quotes, links to other merchants, and links to other websites that are provided as a convenience to you. The content and sites provided by third parties are not under our control or supervision and if you link to another site from any of our pages, you are leaving our site pages. Our privacy policies do not apply to linked sites and you should consult the privacy disclosures on that site for further information. We do not endorse, approve, certify, or control third party sites or content, nor do we guarantee the accuracy, completeness, or timeliness of the information contained in them. The products and services offered by these third parties are not products from Mascoma Bank and are not insured by any governmental agency such as the FDIC.

Electronic Communications

You agree to receive this Agreement electronically. You also agree that we may respond to you with an electronic communication to any electronic communication you send to us.

Any electronic communication sent to you by us will be considered as if it were sent by U.S. Mail, postage prepaid, and will be considered received within three

(3)calendar days of the date sent by us, regardless of whether you sign on to Internet Banking within that time frame. To the extent permissible under applicable law, any electronic communication you send to us will not be effective until we receive and have had a reasonable opportunity to act on such e-mail message. We, therefore, strongly suggest that you report all matters requiring immediate attention (for example, reports of alleged unauthorized transfers or errors) to us by telephone. We may, however, require you to provide us with written confirmation of any notice of alleged error.

Regulation E and Electronic Funds Transfer (EFT) Disclosures

For consumer accounts, the EFT information contained within this Agreement is intended to supplement our Electronic Funds Transfer Disclosure Statement as previously provided to you in printed form. If EFT information in this Agreement and the EFT Disclosure conflict, then the EFT Disclosure will control.

Account Balances

Account balances are available through Internet and Mobile Banking for your accounts and the balance is as of the date indicated. Your account balance may include unavailable funds. The available balance consists of funds that are readily available for withdrawal.

Transfers

You can make transfers from any linked deposit accounts that do not require more than one signature for withdrawal and you must be an owner or authorized signer on each account. We reserve the right to limit the frequency and dollar amount of transactions on your accounts for security or administrative reasons. You acknowledge and agree that you are responsible for all payments and transfers. You also acknowledge and agree that, if you permit another person(s) to use Internet and Mobile Banking or give them your username and password, you are responsible for any transfers or payments the person(s) makes from your account.

Person-to-Person Payments

Person-to Person (P2P) payments is an online payment method which allows you to transfer/pay money to other individuals. It does not require you to know the person’s account information, only their email address. This service can be used from any of your deposit accounts that are accessible through Internet and Mobile Banking. There is a daily limit of $2,500 and a per transaction fee of $2.

Bank-to-Bank Transfers

Bank-to-Bank (B2B) transfers allows you to transfer funds from any of your accessible deposit accounts to your account at another bank. Unlike P2P, it requires you to have authorization to the account as well as know the bank routing number and account number to perform the transfer. There is a daily limit of $5,000 and a per transaction fee of $3 for transfers out of your account(s). There is no fee when you are transferring money into your account(s) at the Bank.

Personal Financial Management

The PFM service gives you the opportunity to enter and view all of your financial information with accounts that you may have at other institutions as well as with us. You can enter goals and analyze your finances as well as categorize transactions to assist with spending trends and budgets.

Transfer Limitations for Savings and Money Market Accounts

Your ability to transfer funds to third parties from savings and money market accounts is limited by federal regulations. You are limited to six pre-authorized electronic fund transfers, telephone transfers, checks (money market accounts only) or similar orders to third parties per statement cycle. Each transfer through any Online Service from your money market or statement savings account is counted as one of the six transfers permitted each statement period. For this reason, we do not permit use of a money market or statement savings account as your designated bill payment account. Excessive transfer fees may apply; see your account terms and conditions. Should excessive transfers continue on your money market or statement savings account; , we may close your account.

Liability for Failure to Stop Payment of Preauthorized Transfer

If you order us to stop payment of a preauthorized transfer three business days or more before the transfer is scheduled, and we do not do so, we will be liable for the amount of the payment that you ordered stopped, except in those instances set forth in the “Our Responsibility” section of the Agreement.

Internet Banking Password

The Bank will issue you a Customer ID Number for security purposes as part of the initial registration process. The Customer ID Number will be used the first time you access the service and may be changed. You will also be given a temporary password that must be changed the first time it is used. It is important to keep your Customer ID Number and password confidential in order to prevent unauthorized transactions on your Bank accounts.

Your Customer ID Number and password are exclusively for your use, or in the case of business entities, for use by those authorized to access the accounts, pursuant to the most recent Cash Management Delegation of Authority on record with the Bank. You agree to take reasonable precautions to safeguard your Customer ID Number, username, and password.

If you forget your password, you may call us at (603) 448-3650 or (888) 627- 2662 in order to have your password reset, or use the Reset Password link on the log in screen if you have previously set up your security questions. You should change your password frequently to help protect the security of access to your accounts. You may change your password in the User Options section. Our employees will never contact you via e-mail or by telephone requesting your online password. If you are contacted by anyone requesting this information, do not provide it and contact us immediately.

Sessions

A “session” is completed when you click on the “Sign Off” button, close your browser, or move to a web site outside the secure socket layer established by the Bank. The session may also be terminated if there is no activity within a set amount of time. In the event of a communications error, the session is terminated

automatically. If you have not completed your transaction before the session is terminated, you must begin the transaction again from the beginning.

Internet Banking Services Monthly Charges

Mascoma Internet Account Access Free*
Mascoma Internet Bill Payment Free*

*Mascoma Bank reserves the right to terminate the bill payment service if you do not use bill payment at least once within three consecutive months.

Fees are subject to change with notification as required by law.

Authorization to Charge Accounts

Our Online Services fees and charges are in addition to the fees and charges that apply to your accounts with us as described in the Personal Accounts and Services brochure, the Fee and Service Charge Schedule, and any other agreements you have with us. You understand that in adding a payee or maintaining a payee list, even if no payments are scheduled, you are electing to use the Bill Payment services and therefore will be charged accordingly. You authorize us to process Bill Payment transactions and transfers according to the instructions we receive from you. You also authorize us to initiate any reversing entry or reversing file, and to debit your account at the Bank or elsewhere, in order to correct any mistaken credit entry. In addition, fees may be assessed for performing additional services through Internet and Mobile Banking, such as processing stop payment requests, check and statement copy orders and transactions that result in non-sufficient funds. Consult the Personal Accounts and Services brochures, Fee and Service Charge Schedules, and any other credit agreements you have with us for details. Finally, you should note that depending upon how you access your Internet and Mobile Banking, you may incur internet service provider fees and telephone charges.

Service Availability

You may access any Online Service 24-hours a day, seven days a week, except when the system is unavailable. The system may be unavailable due to scheduled and/or unscheduled maintenance and system outages. If the red stop sign appears when you attempt to log on, and you have entered your correct username and password, do not continue. Retry later; otherwise, you may be locked out and you will have to call us prior to resetting your password. We are not responsible for the unavailability of any Online Service or any indirect or consequential damages that may result from its unavailability.

Documentation and Verification of Payments and Transfers

1. Confirmation Numbers

Upon completion of a transaction using Internet and Mobile Banking, a reference number (for transfers) or confirmation number (for bill payments) will be given. You should record this number, along with the payee, scheduled date and transaction amount in your checkbook register (or other permanent record), because this will help in resolving any problems that may occur. No printed receipts are issued through Internet and Mobile Banking.

2. Periodic Statements

Information concerning all electronic transactions will be shown on your normal statement or e-statement for the account to and from which transfers or payments are made. You agree that any information downloaded by you becomes your property and responsibility.

Bill Payment

Our bill payment service (“Bill Pay”) allows you to make payments to a third party from a checking account that you maintain at the Bank through a vendor that processes such payments (the “Bill Payment Processor”). This service allows you to make payments to virtually anyone within the United States, except where prohibited by law, payable in U.S. dollars. A checking account that requires more than one signature to make withdrawals may not be used for bill payment services.

To make payments through Bill Pay, you must request the payment from your Bank checking account. You can only make payments to a vendor that holds an account in your name. After your payment request(s) has been entered, transmit the request to us through the Bill Pay function on our website or mobile app. After we receive your payment instructions, the Bill Payment Processor will make your payment either by:

  1. Transferring funds electronically from your account to the payee, or
  2. Preparing a check from your account and sending it payable to the payee.

Your Bank checking account will be debited for the payment within two (2) business days following the payment send-on date.

You may also use Bill Pay to automatically pay bills that have a fixed frequency and amount. Once automatic bill payments are initially set up and transmitted, they are made without having to transmit the payment again.

If we receive more than one payment request that is for the same payee and the same dollar amount and scheduled for the same payment date, only the first payment request will be processed and all other identical payment requests will be rejected.

When you enter and transmit a payment, you authorize us to reduce the specified checking account by the amount of the payment. If there are insufficient or uncollected funds in the checking account to make a payment, we have the right to:

  1. Decline to pay the item, or
  2. Make the payment and collect the funds from you, or
  3. Decline to pay the item and block bill payment service from your account.

If your payments are blocked, you will be prevented from making more bill payments until the insufficient or uncollected funds condition is resolved. Any future-dated recurring payments scheduled for release during the time the account is blocked will not be sent. It is your responsibility to re-schedule those payments.

In any case, you are responsible for any charges we may impose as stated in the Personal Accounts and Services brochure and Fee and Service Charge Schedule. You also authorize us to deduct all applicable funds you owe us and charges from any deposit or savings account you have with us in which you have unrestricted right of withdrawal, including Certificates of Deposit, which might result in a penalty for early withdrawal. In no case will we automatically resubmit a payment for you after funds become available.

Bill Pay Payees

We reserve the right to refuse Bill Pay service to certain payees for any reason, including where the payee will not accept an electronic or check payment from us, or if we determine that the payee cannot process payments in a timely fashion. Anyone in the fifty (50) United States and territories who can accept a check can generally be paid using Bill Pay, with the exception of tax payments (such as federal, state, and local), court-directed payments (such as alimony and child support), and any other government related payments. Payments cannot be made to payees outside the U.S.

If a Bill Pay request includes a discrepancy between the beneficiary’s name and account number, execution of the request will occur based on the account number, even if it identifies a person different from the named beneficiary. Your obligation to pay the amount paid by the Bank as a result of your Bill Pay request is not excused in such circumstances.

Bill Payment Scheduling

The Bill Payment Processor initiates payments on the send-on date you designate when you set up a payment. Payments can be sent on all days excluding Saturdays, Sundays, and holidays observed by the Federal Reserve

Board. In cases where a payment is scheduled for a Sunday or a federal holiday (this can potentially happen on a recurring payment), the payment is sent on the preceding business day (Monday through Friday).

You may send us Bill Pay requests on any day. However, those requests will not be acted on until the following business day (Monday through Friday). Therefore, when scheduling payments on a weekend, the first day you may schedule payments (single payment or the first of a recurring payment) is the first business day following the weekend.

When establishing the send-on date, you must be aware that the payee will be in receipt of your payment within three (3) business days for funds remitted to a payee electronically and five (5) business days if the payee is paid by check. To ensure payment by a specific due date, we suggest you allow at least this much time for your payment to reach the payee and to be properly credited to your account.

Bill Payment Cut-Off Times

Bill Payments initiated after 3:00 P.M., Eastern Time, will be sent on the next business day (excluding Saturdays, Sundays, and Federal holidays).

Bill Payment Limitations

We reserve the right to limit the frequency and dollar amount of payments for security and regulatory reasons. The minimum amount for an individual Bill Payment transaction must be at least $1.00. No Bill Payment transactions may exceed your current balance. If you request a Bill Payment transaction that exceeds your current balance, it will not be processed. If for some reason your current balance is exceeded, additional service fees many apply. Please refer to the current fee schedule.

Bill Payment Cancellations

You may use Bill Payment to cancel a payment request that has already been transmitted or an automatic recurring payment if the payment has not already been sent. You must transmit your cancellation request online before 8:00 A.M., Eastern Time of the processing date.

If the cancellation request is not received per the above instructions, we cannot guarantee the payment will be canceled and you are responsible for the payment. If you call or write to cancel a payment, you may be charged a stop payment fee as provided in our agreement with you for the appropriate linked account.

No Written Signature Required

When using the Bill Payment service to pay bills, you agree that we may debit your account to pay checks that you have authorized or authenticated, but not

signed. Submission of your username and the Password you selected will serve as the authentication for the Bank that you have authorized the transaction.

Electronic Mail (e-mail)

You may contact us via e-mail. However, e-mail is an inherently insecure medium. Sending a message via the “Contact” link in Internet Banking or the “Feedback” link in Mobile Banking provides a greater level of security. However, you should not use e-mail or this link to initiate transactions on your account(s). For banking transactions, please use the appropriate functions within Internet and Mobile Banking.

Change in Terms

The Bank may, from time to time, introduce new online financial services or otherwise amend the terms of this Agreement. For consumer accounts only, we will mail or deliver a written notice to you at least 21 days before the effective date of any change in a term or condition disclosed in this Agreement, if the change would result in increased fees or charges, increased liability, fewer types of available electronic fund transfers, or stricter limitations on the frequency or dollar amounts of transfers, unless prior notice is not required by law. For business accounts, please consult your Personal Accounts and Services brochure and any other credit agreements you have with us for details.

Privacy

The Bank recognizes that our customers and others visiting our internet website have an expectation of privacy in their dealings with us. For these reasons, the Bank takes its responsibilities for the protection of the security and privacy of customer information seriously. Our privacy policies are described in the Bank’s Privacy Notice available at any branch or on our website. Please consult the Bank’s Privacy Notice for more details. Please be aware that when you enroll in our Bill Pay service with respect to a payee, you will provide certain information to the payee so that your account with the payee may be properly credited. We cannot be responsible for what a payee may do with the information provided to it. You may wish to contact your payee to determine whether it has a privacy policy.

Errors or Questions: Your Responsibility

You are responsible for all transfers and bill payments that you authorize using these Online Services. If you permit other persons to use the services or your password, you are responsible for any transactions they authorize from your accounts whether or not you intended that they perform these transactions. Transactions that you initiate with fraudulent intent, or someone acting with you initiates, will also be authorized transactions.

Notify us AT ONCE if you believe:

  • there is an error on your statement, or
  • your Internet and/or Mobile Banking password has been lost or stolen, or
  • someone has transferred or may transfer money from your account without your permission, or
  • if you have a question about an Internet and/or Mobile Banking transaction.

Failure to notify the Bank could cause you to lose all the money in your account.

For Consumer Accounts Only: We must hear from you no later than 60 days after we sent you the first statement on which the problem or error appeared. Please refer to our most recent Reg E disclosure which is available upon request or you may refer to the last page of your monthly bank statement.

Our Responsibility

We are responsible for completing transfer and bill payments on time according to your properly entered and transmitted instructions. However, we will not be liable:

  • If you negligently or intentionally share your username and password, or you do not report immediately any known theft of your ID and/or password, leading to unauthorized access to accounts,
  • If circumstances beyond our control (such as strikes, fire or flood) prevent the transaction or transfer despite reasonable precautions we have taken,
  • If you leave your computer unattended in the middle of a banking session and that results in unauthorized access to your account(s),
  • If you do not sign-off after completing your banking session before visiting other Internet sites (To reduce the possibility of Trojan infections and fraud against you, the Bank recommends that you conduct Internet Banking from a computer that does not access other third-party web sites),
  • If your input error is the cause of a problem,
  • If, through no fault of ours, you do not have enough money in your account to make the transfer or scheduled bill payment,
  • If we make a timely payment, but the payee does not credit your payment promptly after they receive it,
  • If withdrawals from any of your Online Services linked accounts have been prohibited by a court order such as a garnishment or other legal process,
  • If there are postal delays that result in a payee not crediting your payment promptly,
  • If you do not maintain up-to-date anti-virus and/or malware protection and software updates on the computer used to access Internet Banking,
  • If yours or our computer, software, phone lines or Online Services were not working or were temporarily unavailable, or
  • for indirect, incidental, special, or consequential damages arising out of the use of any Online Services.

Governing Law

This Agreement shall be interpreted and governed in accordance with Federal Law, and to the extent not preempted by Federal Law, with the laws of the State of New Hampshire, without regard to its choice of law provisions.

Entire Agreement

This Agreement may be amended by us from time to time and, along with the account agreements, disclosures, and other documents referenced herein, whose terms are hereby incorporated into this Agreement by reference (collectively, “Documents”), and is the entire agreement between you and us with respect to Online Services and supersedes any and all prior communications and prior agreements between you and us with respect to Internet Banking. If any provision of the Documents is inconsistent with any provision of this Agreement, the provisions of this Agreement shall control.

Termination

This Agreement remains in effect until either you or we terminate it. You may terminate this Agreement by notifying us of your intention to cancel Internet Banking via the “Contact Us” link on our website, by calling (603) 448-3650 or (888)627-2662, or by mail. To terminate Bill Payment only (and not cancel internet account access), contact the Bank at (603) 448-3650 or (888) 627-2662. We may terminate this Agreement and your participation any Online Services at any time, for any reason, including non-usage or inactivity. Although we will try to notify you in advance of our termination, we are not obligated to do so. If you terminate this Agreement, you authorize us to continue making transfers and bill payments you have previously authorized up to two (2) business days after our receipt of your cancellation request. Once we have acted upon your termination notice, we will make no further transfers or payments from your accounts, including any transfers or payments you have previously authorized. If you choose to terminate this Agreement and want to ensure that any outstanding authorized payments or transfers are not made, you should cancel all scheduled payments or transfers prior to notifying us that you are discontinuing this service. Please note that your cancellation of the Internet Banking under this Agreement does not terminate your Bank accounts. Conversely, if you close your designated transfer or bill payment Bank account(s), your Internet Online Services will end, and all unprocessed transfers and payments will be canceled.

Customer Service

You may contact us at (603) 448-3650 or (888) 627-2662 during business hours. You may leave a message after business hours and we will return your call as soon as possible.

You can also write us at:

Mascoma Bank

P.O. Box 4399

White River Junction, VT 05001

Attn: Electronic Services Department

Also, using the “Contact” link in Internet Banking or the “Feedback” link in Mobile Banking is a very secure method of communicating with us.