GOGEBIC RANGE BANK

Service Agreement for GRB Online Banking and Bill Payment

 GOGEBIC RANGE BANK SERVICE AGREEMENT for ONLINE BANKING

 1.    GENERAL.  This agreement (“Service Agreement”) applies to various online banking and bill payment services (“services”).  “You” and “your” means each person agreeing to, using, or accessing these services at        Gogebic Range Bank.  “Us,” “we,” and “our” mean Gogebic Range Bank.  When you use, or you permit any   other person(s) to use, any part of this service, you agree to the terms and conditions of this Service Agreement   and agree to comply with help screens.  This Service Agreement and the services are also subject to other   agreements between you and us, including Deposit Account Agreement and Funds Availability Policies.  In   case of conflict, this Service Agreement will take precedence.

 2.    ELIGIBLE ACCOUNTS.  To access your accounts using the services, you must have an eligible account.    Eligible accounts for online banking include Gogebic Range Bank checking accounts, money market accounts,   CDS and IRAs, as well as consumer loan accounts.  Eligible accounts for bill payment include Gogebic Range  Bank checking accounts only.  Eligible accounts are limited to those accounts we designate as consumer  accounts.  Deposit and loan accounts that have a common signer for withdrawals or a common borrower may be  linked for access purposes.  Any signer, acting alone, will be authorized to access a linked account.

 3.    TYPES OF SERVICES LIMITATIONS.

A.  Online Banking:

1.  Funds Transfers.  You must use online banking to perform transfers between eligible accounts.  As  required by law, you may perform no more than six (6) transfers per statement cycle from any   savings or  money market account.         

 2.  Balance Inquiries.  You may use online banking to check the current balance and other account   information on all of your deposit accounts and most loan accounts.  

3.  Account Services.  You may use online banking to request copies of checks and statements, place stop payments on checks, order checks, download you account information to personal management  software, set up account alerts (e.g. to be notified if an account reaches a certain balance), and  complete an online application to open a deposit account.

 B.    Bill Payment:

1.  Manual (Single) Payment.  “Manual Payment” means a single payment that you enter each time   you want to make a payment.  You schedule the date you want the payment made.

2.  Recurring Payments.  “Recurring Payments” are sent automatically on an ongoing basis.  You set   up payment rules regarding their frequency, amount, and timing.          

3.  Limitations.  The amount of any Manual Payment or Recurring Payment shall not exceed $2,500.  The total amount of all bill payments in any one (1) Business day shall not exceed $5,000.   You may not use bill payment services to make payments to payees outside of the United States or U.S. Territory.

 4.    BILL PAYMENT SERVICES.  You authorize us to follow your payment instructions.  For a Manual   Payment, we will deduct your payment from your checking account on the date the payment is scheduled to be  sent (“Payment Date”) or within two (2) Business Days of the Payment Date.  For Recurring Payments, we will deduct your payment from your account on the start date (“Start Date”) or within two (2) Business Days of the  Start Date.  We will deduct subsequent payments from your account using the Start Date as a reference point.    We will initiate payments to payees designated by your (“Payees”).  To ensure on-time payments, allow at least   three (3) Business Days for electronic and six (6) Business Days for standard check payments.  If a payee does   not accept electronic payments, you authorize us to make payment by check.  We may deduct these payments  from your designated account even if they create an overdraft.   You authorize us to make payments by electronic, paper or other means we determine appropriate.  Upon Termination of the bill payment service, you will be responsible for making arrangements to pay any   future or recurring payments.  We reserve the right to refuse to pay a Payee if (a) your designated account has   insufficient funds, (b) a payee refuses to accept a payment, (c) if we have other cause deemed by us to be  sufficient.   You are responsible for having sufficient funds on deposit to make payments in full on scheduled dates.

 5.    BUSINESS DAYS/HOURS OF OPERATIONS.  Business Days are Monday through Friday, except federal        holidays.  We may require that all transactions be performed on a Business Day.  You may make transfers between eligible accounts by 8:00 p.m. CT on a Business Day.  For bill payments, you   may add, delete or edit a Manual Payment up to 8:00 p.m. CT on the Payment Date.  A Recurring Payment must   be added, deleted or edited by 8:00 p.m. CT at least one day prior to the date scheduled for payment.  Remember:  modification of a Recurring Payment or transfer instruction will affect all future payments or  transfers associated with that payment or transfer.)

 6.    FINANCIAL INSTITUTION’S LIABILITY.  We will use good faith efforts to complete all of your  payments properly.  However, we will incur no liability if we are unable to complete any payments or transfers  properly because of any one of the following circumstances: 

 a.   Your designated account does not contain sufficient available funds to complete the payment or   transfer, or the payment or transfer would exceed the credit limit of your designated account’s  overdraft line.  

b.    The services, our equipment, the software, or communications link is not working properly. 

c.    The Payee mishandles, delays posting a payment, or refuses or is unable to accept a payment.  

d.    You have not provided us with the correct name(s), address or account information for Payees.  

e.    Your subscription to the service has been terminated for any reason.  

f.      If circumstances beyond our control including, but not limited to, fire, flood or interference from an outside force, prevent the proper execution of the transaction.  

g.    The transfer of your funds is restricted by legal process or holds.  

h.    Other exceptions stated in this agreement or related agreements or Deposit Account Agreement and Funds Availability Policy.  

i.     Due to limited ability to research payments to government agencies, we will not be responsible for any late fees or penalties that may occur by these types of payments.   Provided none of these circumstances are applicable, if we cause an incorrect amount of funds to be removed  from your designated account or cause funds from your designated account to be directed to an improper  person, we shall be responsible for returning the improperly transferred funds to your designated account and  for directing to the proper Payee any previously misdirected payments or transfers.

 7.    DAMAGES.  OUR RESPONSIBILITIES ABOVE FOR LATE CHARGES AND INCORRECT OR   MISDIRECTED PAYMENTS SHALL CONSTITUTE OUR ENTIRE LIABILITY AND YOUR EXCLUSIVE   REMEDY.  IN NO EVENT SHALL WE BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL,   INCIDENTAL OR CONSEQUENTIAL DAMAGES, INCLUDING LOST PROFITS (EVEN IF WE HAVE  BEEN ADVISED OF THE POSSIBILITY OF THES DAMAGES) CAUSED BY THE SERVICES OR THE  USE OF THE SERVICES, OR ARISING IN ANY WAY OUT OF THE INSTALLATION, USE, OR       MAINTENANCE OF YOU PERSONAL COMPUTER, SOFTWARE, OR ANY INTERNET ACCESS  SERVICES.

 8.    WARRANTY DISCLAIMER.  THE SERVICES AND RELATED DOCUMENTATION ARE PROVIDED  “AS IS.”  WE DO NOT MAKE ANY WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED,  CONCERNING THE HARDWARE, THE SOFTWARE, OR ANY PART THEREOF, INCLUDING   WITHOUT LIMITAITON, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A  PARTICULAR PURPOSE.

 9.    EQUIPMENT REQUIREMENTS.  You are responsible for obtaining, installing, maintaining and operating   all necessary hardware, software, and Internet access services necessary for performing online services.  We  will not be responsible for failures from the malfunctions or failure of your hardware, software or any Internet  access services.  

 10.  ACCESS CODES AND SECURITY.  To help enhance your security, we recommend that you follow some general safety guidelines:

·               Never walk away from your computer while logged on to this service.

 ·             Memorize your user ID and password (“Codes”).

·               Don’t share your Codes with anyone.

·               Select a User ID and Password that will be easy for you to remember.

·               Avoid using personal information.

·               User ID should comply with existing Federal and State requirements.

·               Choose a User ID that contains at least 2 alpha characters and 2 numeric characters.  It must have a minimum length of 8 characters.

·               Choose a Password that contains at least 1 alpha character and 1 numeric character.  It must have a minimum length of 6 characters.

·               Your User ID and Password are case sensitive.

·               Your User ID and Password cannot be the same.

·               Never give your Codes to somebody else, even if they identify themselves as a Gogebic Range Bank employee.  Under no circumstances do we need your Codes.

·               Notify us immediately if you believe your Codes have been lost or stolen.

         We require your browser to be 128-bit encryption enabled.  

  1. Secure Sign On.  Secure Sign On is a security protocol that uses the presence of a cookie on your computer by establishing your identity at sign-in time in two or more independent factors.

   

    • Secure Sign On uses the presence of a cookie on your computer in addition to your password for entry.  If the cookie is not present, you must confirm your identity.

 

    • You choose a picture and personal phrase.  If this picture and personal phrase is not displayed during sign-in, DO NOT sign-in as you have not reached our legitimate site and you could be subjected to fraud.

   

    • Confirmation questions are provided as a secondary means of verifying your identity. 

 

    • Registering your computer that you commonly use to access your financial information.  Remember, on a registered computer you are not asked to answer questions when you sign on, thus making it faster to access your account information.  REMEMBER, it is not recommended that you register a public computer or ones that are used infrequently.

 

  11.  FEES.  If applicable to you and your account, you agree to pay the fees for the services in accordance with our   fee schedules and disclosures as established by us from time to time.  We may automatically deduct these fees   from an eligible account even if they create an overdraft and we may assess the appropriate overdraft fees.

a.                    Internet Banking:  

                 Consumer Accounts-No Fee   Business Accounts-$5.00 monthly Fee

b.             Bill Payment:

                0-15 payments -$5.95 per monthly cycle  over 15 - $.45 each bill payment  

12.  CHANGES; AMENDMENTS; REVISION.  We reserve the right, at our discretion, to add, delete, change,   modify, alter, or discontinue the services or any aspect, feature, or function of the services at any time, including  content, hours, and equipment needed for access or use (“change(s)”).  We also reserve the right, at our discretion, to add, delete, change, modify, or amend any fees, help screens or other terms and conditions of this   Service Agreement at any time (also called, “change(s)”).  Unless an immediate change is necessary to ensure  the security of the services or your accounts, we will send you notice to the mail address or e-mail address we  currently possess in our file at least 30 days before the effective date of any changes if required by law.  Any use of the service after we send you a notice of change will constitute your agreement to such change(s).  Further, we may, from time to time, revise or update the bill payment programs, services, and/or related material  and these changes may render prior versions obsolete.  Consequently, we reserve the right to terminate this   Service Agreement as to all such prior versions of the bill payment programs, services, or related material and  limit access to the services more recent revisions and updates.

 13.  TERMINATION OR DISCONTINUATION.  In the event you wish to discontinue any or all of these  services, you must contact us in writing.  Written notice of service discontinuance must be supplied 10 Business  Days prior to the actual discontinuance date and must be mailed or faxed to:

Gogebic Range Bank                                                                                                                                     300 South Sophie Street                                                                                                                                                                  Bessemer, MI  49911                                                                                                                                   Fax:  (906) 663-4530

We reserve the right to terminate your use of the services in whole or in part at any time.  Neither termination   nor discontinuation shall affect your liability or obligation under this agreement.   Since service cancellation requests take up to 10 days to process, you should cancel all outstanding payment or  transfer orders in addition to notifying us of your desire to terminate the service.  We will not be liable for   payments or transfers not cancelled or payments or transfers made due to the lack of proper notification by you  of service termination or discontinuance for any reason.

14.  DISCLOSURE OF ACCOUNT INFORMATION TO THIRD PARTIES.  We may disclose information   about you and your designated account or transactions on your designated account as provided in our Deposit  Account Agreement and Funds Availability Policies and our privacy statement called “Notice of Your Financial   Privacy Rights.”  In addition, we have the right to obtain and disclose information regarding your designated  account or transactions on your designated account from or to a Payee or financial institution to resolve  payment-posting problems.

15.  UNAUTHORIZED TRANSFERS.  An “unauthorized transfer” is a transfer by a person who does not have   actual, implied, or apparent permission, and is a transfer that does not benefit you.  A transfer by a joint account  holder or other person with an interest in your account is not an unauthorized transfer.  You will not be liable for  unauthorized transfers except as explained in this Service Agreement.

 16.  YOUR LIABILITY FOR UNAUTHORIZED TRANSFERS.  You should not disclose your Codes to any   other person.  These Codes are for your personal use and should be kept confidential by you.  We may require  you to change these Codes periodically.  Contact us immediately if you believe someone has obtained your   Codes or may have access to your accounts without your permission.  Telephoning us at 1-866-663-4520 is the best way of minimizing your losses; or fax or write us at (906) 663-4530 or Gogebic Range Bank, 300 South   Sophie Street, Bessemer, MI  49911.  If you tell us within two Business Days after you discover your Codes   have been lost or stolen, you can lose no more than $50.00 if someone uses your Codes without your   permission.  If you do NOT tell us within two Business Days after you learn of the loss or theft of your Codes,  and we can prove that we could have stopped someone from using your Codes without your permission if you        had told us, you could lose as much as $500.00.  If your monthly statement contains transfers that you did not  make, notify us at once by phone, e-mail or traditional mail.  If you do not notify us within 60 days after the  statement was mailed to you, you may lose any amount transferred without your authorization after the 60 days,  if we can prove that we could have stopped the unauthorized transfer if you had told us in time.  If a good  reason (such as a long trip or a hospital stay) prevented you from telling us, we may extend the period.

 17.  MISCELLANEOUS. 

 a.   Your monthly checking account statement will contain information about any bill payment                                 transactions completed during the statement period.  

b.      In the event of a dispute regarding the services, you and we agree to resolve the dispute by using the terms and conditions contained in this agreement and the Deposit Account Agreement and Fund Availability Policies, as they may be amended from time to time, and not to representations made by our employees or agents.  

c.      You agree that anyone with an ownership interest in your accounts, including joint accounts, may access those accounts, unless we are instructed to the contrary.  

d.      You represent and warrant that you are at least 18 years of age.  

e.      Our failure to exercise or enforce any right or provision of this Service Agreement shall not constitute a waiver of such a right or provision unless acknowledged and agreed to by us in writing.  

f.       This agreement shall be governed by and construed in accordance with the laws of the United States and, to the extent state law applies.