ONLINE BANKING AGREEMENT AND DISCLOSURE


This Online Banking Agreement and Disclosure ("Agreement") describes your rights and obligations as a user of the Online Banking service or the Bill Payment service which the Bank makes available to you in order to enable you to obtain information about your Accounts, pay bills online, transfer funds between your accounts and to request certain other banking services we may make available to you from time to time ("Services"). It also describes the rights and obligations of Spencer Savings Bank ("Bank"), disclaimers of liability and other terms and conditions which apply to you and your use of these Services. This Agreement is valid independent of electronic delivery channel used to access Bank provided Services, including but not limited to mobile, SMS, and supported Apps. Please read this Agreement carefully. By accessing or using any of these Services (or attempting to do so) or by selecting or 'clicking' the "I ACCEPT" button below, you will have agreed to comply with and be bound by the terms and conditions of this Agreement.

CAUTION - IMPORTANT NOTICE


Electronic mail and other communications sent through the Internet and not secured on our website may not be secure and could be intercepted by a third party. For your protection, avoid sending identifying information, such as your Account, Social Security or other identifying numbers, Passwords, User Ids or codes, to us or others. In addition, do not send time-sensitive, action-oriented messages without separately confirming them by telephone and, if required by law or if we request you to, in writing by mail or facsimile transmission.

  1. Definitions

    2. The following definitions apply in this Agreement:

    1. "Authorized Representative" refers to a person with authority (with respect to an Account);
    2. "Bill Payment" is the online Service that enables the scheduling of bill payments using a PC;
    3. "ISP" refers to your Internet Service Provider;
    4. "Online Banking" is the internet-based mechanisms, facilities and resources made available to you by the Bank and which provide access to your Account(s) and the Services related thereto;
    5. "Account" for purposes of this Agreement, means the Bank account or accounts from which you are authorized and permitted by the Bank to conduct Online Banking transactions using the Services and "Primary Account," as used in this Agreement, means and refers to that Account from which all fees and charges will be assessed and drawn under this Agreement;
    6. "Password" refers to the code selected by or for you or generated by or on your behalf, for use during the initial sign-on, as well as the codes you select after the initial sign-on, that establishes and authenticates your connection to and right to use the Services.
    7. "PC" means your personal computer or other comparable, functionally equivalent device, which enables you, with the Internet browser and ISP, to access and use the Services;
    8. "Time of day" references are to Eastern Standard Time (or Daylight Savings, if applicable);
    9. "User ID" is the Bank-generated identification code assigned to you for your connection to the Service.
    10. "We", "us", or "Bank" refer to Spencer Savings Bank which offers the Services and which holds the Accounts accessed and used by or in connection with the Services; and
    11. "You", "your", "yours" or "yourself" refers to the owner of the Account(s) or your authorized representative in respect of any of those Accounts.
    12. "Web site", "website", "site" or any upper or lower case versions or similar internet references, means the Online Banking Services location and corresponding pages and content available at URL (uniform resource locator): http://www.spencersavings.com or any additional or other websites the Bank may notify you which apply to the Services.
  2. Access to Services

    3. The Bank will provide instructions on how to use the Services. You will gain access to Services applicable to your Accounts through the use of your PC, your ISP, your Password and your User ID. You may access your Accounts 24 hours a day, seven (7) days a week. However, availability of the Services may be suspended for brief periods of time for purposes such as maintenance, security, updating and revising the software or the system.

    For purposes of actually executing Online Banking transactions, only the Bank's "business days" - which are Monday through Friday, excluding holidays and weekends - will apply. All Online Banking, Service or any other transaction request received after 6:00 p.m. on any Bank business day or on Saturday, Sunday, or any holiday on which the Bank is closed, will be processed on the Bank's next business day. The Bank's business day begins at 8:00 a.m.

  3. Banking Transactions with Online Banking
    1. Account Access. You may access up to five (5) Bank personal Accounts using our Online Banking Services. One of these accounts must be a primary checking account. Once you have selected your Primary Checking Account you may select up to four (4) additional Accounts, including other checking, savings, certificates of deposit or loan accounts.
    2. Transfer of Funds. In addition to viewing Account information, you may use Online Banking Services to request a transfer of funds. You may make one-time transfers or schedule future or recurring transfers, such as transfers to make loan payments applicable to another Account with us. You may transfer funds among your checking accounts, savings accounts and money market accounts.

      3. NOTE: Because regulations require the Bank to limit preauthorized transfers (including Online Banking transfers), the following limitations apply:

      • Statement and money market savings account. You can make no more than six (6) transfers per statement period by preauthorized or automatic transfer or by telephone or Online Banking.
    3. Additional Services. New services may be introduced for Online Banking from time to time. The Bank will notify you of the existence of these new services, together with any additional and/or differing terms and conditions that may apply to these services. By using these new services, you agree that unless we specify otherwise to you in our notice, these will be considered "Services" under this Agreement and you agree to be bound by any additional and/or differing terms and conditions that we notify you, concerning these Services.
    4. You also acknowledge and agree that for security reasons, the Bank reserves the right to limit the frequency and the dollar amount(s) of transactions from or among your Accounts using these Services.
  4. Schedule of Fees
    1. Fees

      2. Fees for customers and which apply to you are disclosed in our General Schedule of Fees. You agree to pay all fees and charges for Online Banking promptly when due and, if applicable, with respect to any Bill Payment requests, Services or instructions, you authorize us to charge the Primary Checking Account or, if there are insufficient available funds in the Primary Checking Account, any other Account, or any other of your Spencer Savings Bank accounts, for the fees and charges due to us. You agree to be responsible for telephone, communications, PC, ISP or any other charges incurred through your access and/or use of Online Banking and you agree to reimburse the Bank (or we may charge you as an additional fee hereunder) for any amounts we may pay or incur as a result of such access or use by you.

      If you wish to close the Account which is acting as your Primary Checking Account and/or any other Account designated by you as your Bill Payment Account, you must notify us separately prior to such closing and identify a new Checking Account which is to serve as your Primary Account and/or your Bill Payment Account for Online Banking Services. Failure to notify us may result in the termination of Online Banking, suspension or termination of Services, with or without any notice from us and you agree that we may charge any account you have with Spencer Savings Bank for the amount of any outstanding charges or fees you owe.

  5. Statements

    6. You will continue to receive your regular account statement(s).

  6. Use of Your Security Password

    7. You are responsible for keeping your Password, User ID and Online Banking Account information confidential. In order to protect yourself against fraud, you should adhere to the following guidelines:

    If you believe your Account information, User ID, Password or other sensitive or confidential information has been lost or stolen or compromised, or if you suspect any fraudulent, improper or unauthorized activity on any of your Accounts, the Online Banking Service or otherwise, call the Bank immediately at 1-800-363-8115 between the hours 8:00 a.m. to 5:00 p.m., Monday through Friday. Telephoning the Bank is the best way of minimizing your losses and liability and Section XII below explains your and our legal rights in greater detail with respect to certain aspects of losses and liability which may apply to you. (See: Section XII, below)

    If you believe only your Password has been lost or stolen, become available to an unauthorized person or compromised in any way, please use the Password change feature within the Online Banking section of the Bank's Online Banking Services Website to change your Password.

  7. Electronic Mail (E-Mail)

    8. If you send the Bank an e-mail message, the Bank will be deemed to have received it on the following business day regardless of the day or time you send it. You should not rely on e-mail and we cannot be held responsible, if you fail to report an unauthorized transaction from one of your Accounts or if you need to stop a payment that is scheduled to occur or stop or modify any other Service request or instruction you may have given us, whether through the Online Banking Service or otherwise.

  8. Bill Payment Services
    1. Description of Service. The Bill Payment Service permits you to use your Internet-enabled device to direct payments from your designated Bill Payment Account to third parties you wish to pay. Your Bill Payment Account must be a primary checking account. Through the Bill Payment Service, you can provide instructions requesting us to pay bills from your Bill Payment Account to businesses or individuals.

      2. All payments you request us to make through the Bill Payment Service will be deducted from your Bill Payment Account for the Bill Payment Service. Any payments you wish to make through this Service must be payable in U.S. dollars to a payee located in the continental United States. We reserve the right to restrict types of payees to whom payments may be made using the Service from time to time. You should not use the Bill Payment Service to make payments to settle securities purchases, payments to interest bearing accounts, tax payments, or court ordered payments. Payments for these payees will be your sole responsibility and we are not responsible or liable in any manner if such payments are delayed, fail to be made or are improperly processed or credited.

    2. Scheduling Payments. Funds must be available in your Bill Payment Account on the scheduled payment date. If the date you schedule a payment to be initiated falls on a non-business day (Saturday, Sunday, or holiday), funds must be available in your Bill Payment Account the following business day (e.g. Monday). After funds are withdrawn from your Bill Payment Account to make a payment, we may make the payment either by transferring funds electronically to the payee or by mailing the payee a check addressed to the mailing address you provide to us.

      3. You may choose to schedule payments to recur in the same amount at regular weekly, monthly, or semi-monthly intervals. When you create a new payee in the Bill Payment Service, it generally takes two (2) business days to set up the payee in our system. You should schedule a payment to a new payee at least ten (10) business days before any payment due date, to allow us time to set up the payee and verify information about your Account with the payee.

      For all subsequent payments, you agree to allow at least four (4) to ten (10) business days between the date you schedule a payment to be initiated and the payment due date (that is, the due date shown on your invoice or provided in your agreement with the payee, not taking into account any applicable grace period). If the payment is an Automatic Clearing House (ACH) electronic payment, it will take up to four (4) business days to reach the payee. However, if the company or person that you are paying cannot accept an electronic payment, the Bill Payment Service will send a check that may take up to ten (10) business days. If you do not follow these time frames and requirements, you will be fully responsible for all late fees, finance charges or other actions taken by the payee. If you schedule your payment and follow all instructions provided, but the payment is not received by the payee in a timely manner, the Bank will work with the payee on your behalf to reverse any late fees or charges. The Bank is not responsible for inaccurate or incomplete information you provide or fail to provide which may result in any such fees, charges or other actions.

    3. No Duty to Monitor Payments. The Bank is only responsible for exercising ordinary care in processing and sending payments upon your authorization and instructions in accordance with this Agreement. The Bank will not be liable in any way for damages you incur for any of the following reasons:
      • insufficient funds in your Bill Payment Account to make the payment on the processing date;
      • delays in mail delivery;
      • changes to the payee's address or the account number unless we've been advised of the change sufficiently in advance;
      • the failure of any payee to correctly account for or credit the payment in a timely manner; or
      • any other circumstances beyond the control of the Bank.

      If the Online Banking session during which you schedule a payment or transfer ends by 6:00 p.m. (e.g., the time you log off, log out or close your browser after completing your Online Banking Service transactions), the Bank will be considered to have received it on that day. Otherwise, it will be considered received on the following business day. For all entries applicable to Online Banking and the Services, the time recorded by the Online Banking Service will be considered the official time of the transaction.

      If your Bill Payment Account does not have sufficient funds to make a payment as of the date the payment is debited to your account, the Bill Payment Service will automatically block future access to and use of the Bill Payment Service until your Account has sufficient funds to make the payment. The Bank will attempt to notify you by e-mail or U.S. Postal Mail, but the Bank shall have no obligation or liability if it does not complete a payment because there are insufficient funds in your Bill Payment Account to process a payment. In all cases, you are responsible for either contacting the Online Banking Service at 1-800-363-8115 to either make alternate arrangements for the payment or reschedule the payment through the Service. In the case of fixed payments, only the payment currently scheduled will be impacted. Fixed payments scheduled for future dates will not be affected.

    4. Cancel or Change Payment Instructions. Payments must be changed or canceled using the Service prior to 3:00 p.m. on the business day the transaction is scheduled to be processed. If you ask us to cancel a payment after it is issued and we agree to do so, we may charge you a stop payment fee. Stop payment orders whether oral, written, or electronic, will be in effect for a period of six (6) months. If requested by the Bank, you will confirm any stop payment order in writing. After six (6) months, any stop payment will terminate and must be renewed in order to continue in effect. The Bank may pay any item that is presented following the lapse of any stop payment order which is not renewed as described.
    5. No Signature Required. When any payment or other Online Banking Service generates items to be charged to any of your Account(s), you agree that we may debit your Account without requiring your signature on the item, and without prior notice to you.
    6. Multiple Person Bill Payment Accounts. If more than one person has access to your Account, each person may individually enroll in the Bill Payment Service. Each enrolled person needs a unique Password but may choose to use the same payee list. Each person may terminate her/his enrollment in the Bill Payment Service without affecting the Service for any other person enrolled in or related to that Bill Payment Account. However, any enrolled person has the right to terminate the Bill Payment Service completely, which will terminate the Service for all enrolled persons on that Bill Payment Account.
  9. Linked Accounts

    10. All Accounts with the Bank that you enroll in any of our Online Banking Services will be linked by the tax identification numbers of the persons authorized to access the Account(s). The linked accounts will appear together without regard to the ownership of the Accounts. For example, if you or any of your authorized users of a linked Account accesses the Service, you and that authorized user will be able to view and access at a single time the following Accounts.

  10. Business

    11. If you are a business, any authorized user of your business is authorized on such terms, conditions, and agreements as we may require to:

  11. Term and Termination
    1. Term. This Agreement will become effective when you select or 'click' the "I ACCEPT" button below or if you access or use any of our Services (or attempt to do so), and shall remain in full force and effect until termination in accordance with the following provisions.
    2. Termination for Cause. We may immediately terminate your Online Banking and Online Banking Services privileges (including the Bill Payment Service) without notice to you under the following circumstances:
      • You do not pay any fee required by this Agreement when due; or
      • You do not comply with the agreement governing your deposit or loan accounts with us, including your Accounts under this Agreement or your accounts with us, including your Accounts under this Agreement, are not maintained in good standing; or
      • You do not comply with any term or condition of this Agreement.

      We will notify you if we terminate this Agreement or your access to or use of the Online Banking or Online Banking Services for any other reason.

    3. Termination for Convenience. To terminate this Agreement, you must notify the Bank and provide your name, address, the Service(s) you are discontinuing, and the termination date of the Service(s). When the Bill Payment Service is terminated, any pre-scheduled bill payments, transaction requests and instructions made through Online Banking or associated with the Services hereunder, will also be immediately terminated and no longer effective. Your final charge for the Bill Payment service and/or any other fees and charges applicable to your access and use of the Online Banking Service, will be assessed at the end of your statement cycle. You may notify the Bank by one of the following methods, but in all cases, you must include any and all information necessary to identify you, your Account(s) and the Service(s) you are terminating, clearly and unambiguously or else we cannot and will not be bound by your notice:
      • By sending an e-mail to Spencer Online@ spencersavings.com.
      • By calling 1-800-363-8115
      • By writing and signing a letter and either sending it to the following address: Spencer Savings Bank, Attention: Customer Service, 611 River Drive, Elmwood Park, NJ 07407 or giving it to a Customer Service Representative at any of the Bank's locations.

      If you are not paying a monthly service charge for the Service, we may convert your account to inactive status if you do not sign on to the Service or have any transaction scheduled through the Service during any consecutive 90-day period. If your account is considered inactive, you must contact us to have the Service activated before you will be able to schedule any transaction through the Service.

  12. Electronic Fund Transfer Provisions For Consumers
    1. Applicability. These provisions are only applicable to online electronic fund transfers, which credit or debit a consumer's checking, savings or other asset account, including your Online Banking Accounts, and are subject to the Federal Reserve Board's Regulation E (an "EFT"). When applicable, the Bank may rely on any exceptions to these provisions, which are contained in Regulation E. All terms that are not defined in this Agreement but which are defined in Regulation E shall have the same meaning when used in this section.
    2. Your Liability. The following determines your liability for any unauthorized EFT or any series of related unauthorized EFTs:
      1. If you notify the Bank within two (2) business days after your Password was lost or stolen, your liability will not exceed fifty dollars ($50.00) or the amount of the unauthorized EFTs that occur before notification, whichever is less;
      2. If you fail to notify the Bank within two (2) business days after your Password was lost or stolen, your liability will not exceed the lesser of five hundred dollars ($500.00) or the total of:
        • fifty dollars ($50.00) or the amount of unauthorized EFTs that occur within the two (2) business days; and
        • the total of authorized EFTs which occur during the two (2) days before notification to the Bank, provided the Bank establishes that these EFTs would not have occurred had the Bank been notified within that two-day period.
      3. You must report an unauthorized EFT, which appears, on your periodic statement, no later than 60 days of transmittal of the statement to you in order to avoid liability for subsequent transfers. Your liability will not exceed the amount of the unauthorized EFTs that occurred within the 60-day period up to $500. You may also be liable for the amounts as described in sections 1 and 2 above.
      4. If your report is made orally, we will require that you send the complaint or question in writing within 10 business days of your oral report. We will notify you with the results of the investigation within 10 business days (we may extend this to 20 business days if the alleged error occurred with 30 business days of your first deposit to this particular Account) and will correct any error promptly. If more time is needed, however, we may take up to 45 calendar days to investigate a complaint or question. If this occurs, we will credit your account within 10 business days (20 business days if the alleged error occurred with 30 business days of your first deposit to this particular Account) for the amount you think is in error. This will allow you to use the money during the time it takes us to complete our investigation. If your complaint or question is not received in writing within 10 business days, we may not credit your account until the investigation is completed. If an alleged error involves an electronic fund transfer outside a state or territory or possession of the United States, the applicable time periods for action by us are 20 business days (instead of 10) and 90 calendar days (instead of 45). If we determine that no error occurred, we will send you a written explanation within three (3) business days after the investigation is complete. You may request copies of the documents that were used in the investigation.
      5. You may notify the Bank by telephone, in writing, or by e-mail using the Guest Book provided in our Online Banking site. Notification by general e-mail to report an unauthorized transaction is not secure and therefore not advised.
    3. Telephone Numbers and Addresses. In case of errors or questions regarding the Service or any Online Banking or Bill Payment transaction, call 1-800-363-8115 or write us, Spencer Savings Bank, Attn: Customer Service Center, 611 River Drive, Elmwood Park, NJ 07407.

      4. We must hear from you at the telephone number or address, listed above, no later than 60 days after we sent you the FIRST statement on which the problem or error appeared. We will need:

      1. Your name and Account number
      2. A description of the error or the transfer in question and an explanation concerning why you believe it is an error or why you need more information.
      3. The dollar amount of the suspected error and date on which it occurred.
    4. Liability and Limitations on the Bank's Liability
      1. Our Liability. This section explains our liability to you only to the extent that any other agreements, notices or disclosures have not separately disclosed our liability. In no event shall we be liable to you for failure to provide access to or use of your Online Banking or Bill Payment Services or your Accounts using or through said Online Banking Services. Unless otherwise required by applicable law, we are only responsible for performing the Online Banking and Bill Payment Services as delineated in this Agreement. We will only be liable to you for the amount of any actual losses or damages incurred by you and resulting directly from our gross negligence.

        2. We will not be liable to you in the following instances:

        If through no fault of the Bank, you do not have enough money in any of your accounts, including any Account hereunder, to make the transfer.

        1. If circumstances beyond our control (such as fire, flood, power outage, equipment or technical failure or breakdown) prevents the transfer despite reasonable precautions that we have taken.
        2. If there is a hold on your Account, or if access to your Account is blocked, in accordance with the Bank's or generally applicable banking policy.
        3. If your funds are subject to a legal proceeding or other encumbrance restricting the transfer.
        4. If your transfer authorization terminates by operation of law or otherwise.
        5. If you believe someone has accessed your Accounts without your permission and authorization and you fail to notify the Bank immediately.
        6. If you have not complied with the relevant provisions of this Agreement, including your failure to properly follow the instructions on how to make a transfer, which are included in this Agreement.
        7. If we have received incomplete or inaccurate information from you or a third party involving the Online Banking Service, any of your Accounts, any requests, instructions or transfer information.
        8. If we have a reasonable basis for believing that unauthorized or improper use of your Password, User ID or any Account has occurred, will occur or may be occurring or if you default under this Agreement, the deposit account agreement, a credit agreement or any other agreement with us, or if we or you terminate this Agreement.

          9. IN NO EVENT SHALL WE, SPENCER SAVINGS BANK, HAVE ANY LIABILITY TO YOU OR ANY THIRD PARTY FOR ANY INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES RESULTING FROM OR ARISING OUT OF ANY TRANSACTIONS RELATING TO THE SERVICES, ONLINE BANKING, OR OTHERWISE IN CONNECTION WITH OR ARISING FROM THIS AGREEMENT.

      2. Indemnification. You agree to indemnify, defend and hold us, Spencer Savings Bank, our affiliated companies, directors, officers, employees and agents harmless from and against any third party claim, demand, suit, action or other proceeding and any losses, damages, liabilities, costs and expenses (including, without limitation, reasonable attorneys' fees) related to the Services hereunder, as well as any Online Banking Service or Bill Payment or other Account hereunder.
      3. Third Parties. We are not liable for any loss or liability resulting from any failure of your PC, or any other equipment or software, communications or other devices, facilities, resources or instrumentalities or that of any ISP, internet browser provider such as Netscape (Netscape Navigator browser) or Microsoft (Microsoft Explorer browser), by an internet access provider, or by an online service provider, or any communication or telecommunication service, nor will we be liable for any direct, indirect, special or consequential damages resulting from your access to or failure to access, use or failure to use, any of our Online Banking Services or Bill Payment or other Account.
      4. Virus Protection. The Bank is not responsible for any malicious code or unauthorized programs, software or other instructions including, without limitation, any so-called, electronic viruses, worms, Trojan horses, logic bombs , that you may encounter or that may affect you, your PC, or any Online Banking Service. We suggest that you routinely scan your PC using a virus protection product, although such scanning does not alter or change our respective risks and liabilities as described in this Agreement. An undetected virus may corrupt or even destroy your programs, files, and your hardware.
      5. Licensed Software; Import and Export Restrictions. Our Online Banking Service uses proprietary software of ours, as well as our suppliers and licensors. If we provide you with any software, programs or other content and items to use in association with our Online Banking Services ("software"), you are being granted a revocable, non-exclusive, non-transferable and limited license to use the software only for its intended purposes solely in connection with our Online Banking Services and always subject to the terms and conditions in this Agreement. You may not disassemble, decompile, copy, modify, adapt, create derivative works or reverse engineer any of the software or allow anyone else to do so. Our website, its content and our Online Banking Services may have a distinctive "look and feel" that is proprietary, either to us or our suppliers. You also understand and agree that our Online Banking Service may includes software that contains or includes encryption or other technology which may be subject to strict export control restrictions and you specifically agree that you shall not export any software or technical data received from Spencer Savings Bank or any of its suppliers, without first obtaining our prior written approval (which may be withheld for any reason in our sole and absolute discretion) and even then, subject to your full compliance with all requirements of the Export Administration Regulations (15 CFR Parts 730-774).
  13. General Terms and Conditions
    1. Bank Agreements. In addition to this Agreement, you and the Bank agree to be bound by and comply with the requirements of the agreements applicable to each of your Online Accounts. Your access to or use of the Online Banking Service or the Bill Payment Service (or any attempt by you to do so) or by selecting or 'clicking' the "I ACCEPT" button below, will constitute your acknowledgement that you have received, read and understood this Agreement and intend and agree to be bound by and comply with the terms and conditions of this Agreement. You should review and ensure you are familiar with the other disclosures, including the charges that may be imposed for electronic funds transfers or the right to make transfers listed in the fee schedules accompanying those disclosures and the fee schedule contained in this Agreement. We will automatically deduct the fees related to this Service from your Primary Account each month. To avoid any uncertainty, this Agreement is addition to any other agreements you may have with us, whether relating to Accounts hereunder or any other deposit accounts, overdraft lines of credit, or otherwise and none of the terms and conditions of those agreements are modified, superseded or in any way altered by this Agreement and you remain obligated to comply with them. You also understand that you must maintain your Accounts in good standing as required by those agreements and the terms and conditions of this Agreement in order to access or use our Online Banking Services and request, initiate or perform transactions using our Services.
    2. Changes and Modifications. The Bank may modify the terms and conditions applicable to the Services and Online Banking from time to time, as well as the terms and conditions applicable to your Accounts with us. We may send any notice to you via e-mail of changes to this Agreement and we will also post a copy of the new terms and conditions on our website so you should check the website regularly to be sure you are up to date as to the current terms and conditions which apply to your agreement with us. You will be deemed to have received notice of any such new terms and conditions, three days after it is sent or posted on our website. The revised terms and conditions shall be effective at the earliest date allowed by applicable law. We reserve the right to terminate this Agreement and your use of any of the Services and the Online Banking Services generally, in whole or in part at any time, without prior notice.
    3. Assignment. We may assign this Agreement to an affiliate of the Bank or any successor in interest in the event of a merger, reorganization, change of control, acquisition or sale of all or substantially all assets of the business to which this Agreement is related without your or any other party's prior written consent.
    4. Notices. Unless otherwise required by applicable law, any notice or written communication given pursuant to this Agreement may be sent to you electronically.
    5. Disclosure of Information. We will only disclose information to third parties about your account or transfers you make under the following circumstances:
      • where it is necessary for the provision of Online Banking Services, Account or other Services hereunder and for processing and completing transfers;
      • in order to verify the existence and condition of your Account(s) for a third party, such as a credit bureau or merchant;
      • in order to comply with law, regulation, government or court orders, or other reporting requirements;
      • if you give us your permission; or
      • to Bank affiliated companies.
    6. In any one or more of the provisions of this Agreement is held, for any reason, to be invalid, illegal or unenforceable, the remaining provisions shall be unaffected and continue unimpaired and, if practicable, the invalid, illegal or unenforceable provision shall be replaced with a valid, legal and enforceable provision which comes closest to the intent of the original provision.
    7. Governing Law. This Agreement is governed by and shall be construed under the laws of the State of New Jersey and applicable federal law. Any action or proceedings brought under or in connection with this Agreement shall be instituted, brought and subject to the exclusive jurisdiction of the State Courts located in Bergen County, New Jersey or the United States Federal Courts located in the City of Newark, New Jersey, if applicable.
    8. Survival. Any and all of the terms and conditions of this Agreement which must survive in order to give effect to their meaning, shall be deemed to survive any cancellation, termination or expiration of this Agreement and/or any particular Online Banking, Bill Payment or other Service hereunder.

    For customer service or if you have any questions regarding Spencer Savings Bank's Online Banking Service or any Online Banking or Bill Payment transaction, call 1-800-363-8115 or write to us at Spencer Savings Bank, 611 River Drive, Center 3, Elmwood Park, NJ 07407, Attention: Customer Service Center.

PURCHASE REWARDS -- End User License Agreement

In addition to the above content, if you decide to use the Purchase Rewards ("Debit Rewards Offers") application, you acknowledge and agree to the following terms and conditions of service.

LICENSE GRANT AND RESTRICTIONS. You are granted a personal, limited, non-exclusive, non-transferable license, to electronically access and use the purchase rewards application ("Debit Rewards Offers") to benefit from your debit card purchases.

In addition to the Debit Rewards Offers, the terms "Service" and "Debit Rewards Offers" also include any other programs, tools, internet-based services, components and any "updates" (for example, Service maintenance, Debit Rewards information, help content, bug fixes, or maintenance releases, etc.) of the Service or Debit Rewards Offers if and when they are made available to you by us or by our third party vendors. Certain Service and Debit Rewards Offers may be accompanied by, and will be subject to, additional terms and conditions.

You are not licensed or permitted to do any of the following and you may not allow any third party to do any of the following: (i) access or attempt to access any other systems, programs or data that are not made available for public use; (ii) copy, reproduce, republish, upload, post, transmit, resell or distribute in any way the material from the Debit Rewards Offers program; (iii) permit any third party to benefit from the use or functionality of the Service or Debit Rewards Offers, or any other services provided in connection with them, via a rental, lease, timesharing, service bureau, or other arrangement; (iv) transfer any of the rights granted to you under this license; (v) work around any technical limitations in the Service, use any tool to enable features or functionalities that are otherwise disabled in the Service, or decompile, disassemble, or otherwise reverse engineer the Service except as otherwise permitted by applicable law; (vi) perform or attempt to perform any actions that would interfere with the proper working of Debit Rewards Offers or any services provided in connection with them, prevent access to or the use of Debit Rewards Offers or any or services provided in connection with them by other licensees or customers, or impose an unreasonable or disproportionately large load on the infrastructure while using the Service; or (vii) otherwise use Debit Rewards Offers or any services provided in connection with them except as expressly allowed under this Section 1.

OWNERSHIP. Debit Rewards Offers are protected by copyright, trade secret and other intellectual property laws. You do not have any rights to the trademarks or service marks.

YOUR INFORMATION AND ACCOUNT DATA WITH US. You are responsible for (i) maintaining the confidentiality and security of your access number(s), password(s), security question(s) and answer(s), account number(s), login information, and any other security or access information, used by you to access Debit Rewards Offers or any services provided in connection with them, and your accounts with us (collectively, "Licensee Access Information"), and (ii) preventing unauthorized access to or use of the information, files or data that you store or use in or with Debit Rewards Offers or any services provided in connection with them (collectively, "Account Data"). You are responsible for providing access and assigning passwords to other users, if any, under your account for Debit Rewards Offers or any services provided in connection with them, and ensuring that such authorized users comply with this Agreement. You will be responsible for all electronic communications, including account registration and other account holder information, email and financial, accounting and other data ("Communications") entered using the Licensee Access Information. It is assumed that any Communications received through use of the Licensee Access Information were sent or authorized by you. You agree to immediately notify us if you become aware of any loss, theft or unauthorized use of any Licensee Access Information. We reserve the right to deny you access to Debit Rewards Offers or any services provided in connection with them (or any part thereof) if we reasonably believe that any loss, theft or unauthorized use of Licensee Access Information has occurred. You must inform us of, and hereby grant to us and our third party vendors permission to use, Licensee Access Information to enable us to provide Debit Rewards Offers or any services provided in connection with them to you, including updating and maintaining Account Data, addressing errors or service interruptions, and to enhance the types of data and services we may provide to you in the future.

We may use anonymous, aggregate information, which we collect and store, or which is collected and stored on our behalf by third party vendors, to conduct certain analytical research and help us to create new offerings and services for our customers. As we make additional offerings and online banking services available to you, some of which may rely on banking information maintained in your accounts, you will have the opportunity to participate in the services if you choose. If you choose not to participate, you do not need to notify us. We may also use anonymous, aggregate information which we collect and store, or which is collected and stored on our behalf by third party vendors, to (i) conduct database marketing and marketing program execution activities; (ii) publish summary or aggregate results relating to metrics comprised of research data from time to time; and (iii) distribute or license such aggregated research data to third parties. Additionally, automated technology may be used to tailor messages or advertisements that best reflect your interest and needs.

DEBIT REWARDS OFFERS. If you decide you wish to participate in the Debit Rewards Offers application, you acknowledge and agree to the following terms and conditions of service.

Debit Rewards. You will earn rewards for your participation in the Debit Rewards Offers program based on total purchases. If you participate in the Debit Rewards Offers, we will credit all cash or point rewards earned to your rewards balance and send you a lump sum of all rewards due to you. For any qualifying purchases during the current month, we will distribute the lump sum amount to you during the following calendar month. For example, if the payment date of all rewards end user disbursements is August 30, the applicable Measurement Period would be the calendar month ended July 31. Cash rewards will be deposited in the Debit Rewards Offers deposit account which is associated with the Debit Rewards Offers program.

Debit Rewards Offers Account. You must use the debit card associated with the Debit Rewards Offers account in order to receive the offers which qualify for the rewards. Rewards will not be earned for any portion of your purchase that you pay for with store credit, gift certificates or other payment types.

Purchases must be made as indicated in the offers made available under the Debit Rewards Offers program. Each offer will specify whether the purchase can be made online, at a store location, or by telephone to be eligible for rewards. You must also comply with any guidelines included with the offer, such as offer expiration dates, minimum purchase amounts, purchase limits, etc. You must also pay using the debit card associated with the account that received the Debit Rewards offer in order for the purchase to qualify.

While we and the merchants work hard to properly track and credit all eligible purchases, there may be times that we are unable to do so because of problems with your internet browser, the merchant's web site or our system. Please contact our support team if you believe you have made a qualifying purchase for which you did not receive Rewards.

Please note that you will not earn rewards as part of this program if you use a debit card not issued by us or do not have the designated deposit account opened with us at the time of disbursement.

You understand and agree that we make no warranties and have no liability as to: