E-Statements Disclosure
In case of errors or questions about your deposit account electronic transfers:
Telephone us at 860 423-4581 or toll free at 800 423-0142 or write us
at Savings Institute Bank & Trust, 803 Main St, Willimantic, CT 06226,
as soon as you can, if you think your statement or receipt is wrong or
if you need more information about a transfer on the statement or
receipt. We must hear from you no later than 60 days after we sent you
the FIRST statement on which the error or problem appears.Tell us your
name and account number. Describe the error or transfer you are unsure
about, and explain as clearly as you can why you believe there is an
error or why you need more information. Tell us the dollar amount of
the suspected error. If you tell us orally, we may require that you send
us your complaint or question in writing within 10 business days. We will
determine whether an error occurred within ten (10) business days
after we hear from you and will correct any error promptly. However, if we
need more time, we may take up to forty-five (45) days to investigate your complaint or questions for most types of errors. (If the complaint or question concerned a transaction that was initiated in a foreign country, a point of sale transaction, or a transaction that occurred within thirty (30) days of the first deposit to your account, we may take up to ninety (90) days to complete our investigation.)If we decide to take this extra time to investigate, we will re-credit your account within ten (10) business days for the amount you think is in error, so that you will have use of the money during the time it takes us to
complete our investigation. (Twenty (20) business days if the error occurred within thirty (30) days of the first deposit to your account.)We will tell you the results within three (3) business days after completing our investigation. If we decide that there was no
error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.
The following pertains to credit accounts established for personal, family or household purposes only.
Billing Rights
Billing Rights summary in case of errors or questions about your statement. If you think your statement is wrong, or if you need more information about a transaction on your statement, write us at Savings Institute Bank & Trust, 803 Main Street, Willimantic, CT 06226. We must hear from you no later than sixty (60) days after we sent you the first statement on which the error or problem appeared. You may telephone us, but doing so will not preserve your rights. In your letter give us the following information Your name and account number. The dollar amount of the suspected error. Describe the error and explain, if you can, why you believe there is an error. If you need more information, describe the item that you are unsure about. You do not have to pay any amount in question while we are investing, but you are still obligated to pay the parts of your statement that are not in question. While we investigate your question, we cannot report you as delinquent or take any action to collect the amount you question.
Loan Statement Disclosures
INFORMATION WITH REGARD TO HOME EQUITY LINE OF CREDIT AND OVERDRAFT
PROTECTION ACCOUNTS:
We calculate the FINANCE CHARGE on your account by
applying the DAILY PERIODIC RATE to the AVERAGE DAILY BALANCE on your account. The product of this is then multiplied by the number of days in the billing cycle to determine the FINANCE CHARGE for the billing cycle. To compute the AVERAGE DAILY BALANCE on your account, we take the beginning balance in your account each day and we add any cash or loan advances and subtract any payments or credits. This gives us your daily balance. We then accumulate each daily balance for the billing/statement cycle and divide by the total number of days in the cycle. The result of this computation is the AVERAGE DAILY BALANCE. FINANCE CHARGES are added to your account monthly on the closing date of the billing cycle, but such FINANCE CHARGES are never added to the balance on which finance charges are computed, whether current or carried over from a prior billing cycle. Home Equity Lines of Credit and Overdraft Protection Accounts are variable interest rate loans and therefore the daily periodic rate may vary from billing cycle to billing cycle in accordance with the terms of the loan.
© 2006 The Savings Institute Bank & Trust,
All Rights Reserved
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