Recent Statement Changes

Due to Federal Regulation Z changes in 2010, your statement will feature the following changes:

1. If you have share (checking) accounts, closed-end loans (i.e., mortgages) and HELOCs, these display on the statement prior to any open-end, non-HELOC loans (i.e., Lines of Credit, auto loans).

2. Statements now include a Payment Information summary section.
     a. The summary section includes the following information: Previous Balance, New Balance (Ending Balance), Credit Limit, Available Credit, Statement Start Date, Payment Due Date, Minimum Payment Due (payment amount), Past Due As Of Date, Annual Percentage Rate, Statement End Date, and Late Payment Warning that discloses the late payment costs range for a loan.
     b. The Payment Due Date will always be the next due date following the statement end date regardless of delinquency.
     c. The Past Due as of date will display the due date from the loan record if past due, otherwise it will display NA.

3. Statements include a late payment warning if a loan is subject to a late payment fee.

4. Statements now include for each loan a transactions section that displays itemized payments (credits) and advances (debits). The transaction section contains Transaction date(s), Description, and Amount.

5. Statements now include a new itemized Fees section that reports fees assessed against the loan.
     a. The fees section includes: Fee Date(s), Fee Description and Fee Amount.
     b. Fees assessed during an advance on a loan are reported in the fees section of the statement.
     c. Late charges are considered fees and are reported in the fees section of the statement.
     d. Credit Life, Credit Disability and Debt Cancellation insurance are considered fees and are reported in the fees section of the statement, even if a premium is collected from a share account.
     e. Fee adjustments are included in the fees section and are reflected in the period-to-date and year-to-date totals.

6. Statements now include an Interest Charged section that reports the total interest charged for payments received and total interest for the statement period to date. Interest adjustments are included in the Interest Charged section and reflected in the period-to-date and year-to-date totals.

7. Statements now include a Totals Year-to-Date section that reports the statement year-to-date total for fees charged and statement year-to-date total for interest charged.

8. Statements now include an Interest Rate Detail section for open-end loans that contains effective date range, annual percentage rate (APR), and the balance subject to the interest rate. If a rate is variable, a (v) displays after the rate in this section, and (v) = Variable Rate prints after the Interest Rate Detail section.

9. After all open-end loans are listed on a statement, the statement includes for all open-end loans a grand total of:

• Fees charged in the statement period.
• Fees charged in the statement year.
  
• Interest charged in the statement period.
  
• Interest charged in the statement year.