Hometown Banking for Over 25 Years
Community First Bank for loans, mortgages, savings and investments in Fairview Heights, Swansea, Belleville, O'Fallon, Shiloh and the Metro-East area
Personal landing Business landing Other Services landing
Other Services landing
Policies and Disclosures

Contact Us
Community First Bank

4600 North Illinois Street • Fairview Heights, IL 62208
Corner of Route 159 & Frank Scott Parkway
Phone (618) 234-9500          Fax (618) 234-9585
HUD.gov
*Requires Adobe Reader

Deposit Account Agreement and Disclosure

AGREEMENT
These terms govern the operation of this account unless varied or supplemented in writing.  Unless it would be inconsistent to do so, words and phrases used in this document should be construed so that the singular includes the plural and the plural includes the singular.  As used in this form, the words “we”, “our”, or “us” mean the financial institution and the words “you” or “your” mean the account holder(s).  This account may not be transferred or assigned without our written consent.
 
A consumer is a natural person who holds an account primarily for personal, family or household purposes. 

LIABILITY
You agree, for yourself (and the person or entity you represent if you sign as a representative of another) to the terms of this account and the schedule of charges.  You authorize us to deduct these charges directly from the account balance as accrued.  You will pay any additional reasonable charges for services you request which are not covered by this agreement.  

Each of you also agrees to be jointly and severally (individually) liable for any account shortage resulting from charges or overdrafts, whether caused by you or another with access to this account.  This liability is due immediately, and can be deducted directly from the account balance whenever sufficient funds are available.  You have no right to defer payment of this liability, and you are liable regardless of whether you signed the item or benefited from the charge or overdraft.  This includes liability for our costs to collect the deficit including, to the extent permitted by law, our reasonable attorneys’ fees.

DEPOSITS
We will give only provisional credit until collection is final for any items, other than cash, we accept for deposit (including items drawn “on us”).  Actual credit for deposits of, or payable in, foreign currency will be at the exchange rate in effect on final collection in U.S. dollars.  We are not responsible for transactions by mail or outside depository until we actually record them.  We will treat and record all transactions received after our “daily cutoff time” on a business day we are open, or received on a day we are not open for business, as if initiated on the next following business day that we are open.
 
WITHDRAWALS
Unless clearly indicated otherwise on the account records, any of you, acting alone, who signs in the space designated for signatures on the signature card may withdraw or transfer all or any part of the account balance at any time.  Each of you (until we receive written notice to the contrary) authorizes each other person signing the signature card to endorse any item payable to you or your order for deposit to this account or any other transaction with us.  We may charge your account for a check even though payment was made before the date of the check, unless we have received written notice of the postdating in time to have a reasonable opportunity to act.  We may refuse any withdrawal or transfer request which you attempt on forms not approved by us, by any method we do not specifically permit, which is greater in number than the frequency permitted, or which is for an amount greater or less than any withdrawal limitations.  Even if we honor a nonconforming request, we may treat continued abuse of the stated limitations (if any) as your act of closing the account.  We will use the date the transaction is completed by us (as opposed to the date you initiate it) to apply the frequency limitations.   The fact that we may honor withdrawal requests that overdraw the available account balance does not obligate us to do so later.  See the funds availability policy disclosure for information about when you can withdraw funds you deposit.  For those accounts for which our Funds Availability Policy disclosure does not apply, you can ask us when you make a deposit when those funds will be available for withdrawal.
 
We may require not less than 7 days’ notice in writing before each withdrawal from an interest-bearing account other than a time deposit.  Withdrawals from a time account prior to maturity or prior to any notice period may be restricted and may be subject to penalty.  See your notice of penalty for early withdrawal.
 
ACH AND WIRE TRANSFER
This agreement is subject to Article 4A of the Uniform Commercial Code in the state in which you have your account with us.  If you originate a fund transfer for which Fedwire is used, and you identify by name and number a beneficiary financial institution, an intermediary financial institution or a beneficiary, we and every receiving or beneficiary financial institution may rely on the identifying number to make payment.  We may rely on the number even if it identifies a financial institution, person or account other than the one named.  You agree to be bound by automated clearinghouse association rules. These rules provide, among other things, that payments made to you, or originated by you, are provisional until final settlement is made through a Federal Reserve Bank or payment is otherwise made as provided in Article 4A-403(a) of the Uniform Commercial Code.  If we do not receive such payment, we are entitled to a refund from you in the amount credited to your account and the party originating such payment will not be considered to have paid the amount so credited.  If we receive a credit to an account you have with us by wire or ACH, we are not required to give you any notice of the payment order or credit.
 
OWNERSHIP OF ACCOUNT AND BENEFICIARY DESIGNATION
These rules apply to this account depending on the form of ownership and beneficiary designation, if any, specified on the account records.  We make no representations as to the appropriateness or effect of the ownership and beneficiary designations, except as they determine to whom we pay the account funds. 

BUSINESS ACCOUNTS
Earnings in the form of interest, dividends, or credits will be paid only on collected funds, unless otherwise provided by law or our policy.  We may require the governing body of the legal entity opening the account to give us a separate authorization telling us who is authorized to act on its behalf.  We will honor the authorization until we actually receive written notice of a change from the governing body of the legal entity.
 
STOP PAYMENTS
You must make any stop-payment order in the manner required by law and we must receive it in time to give us a reasonable opportunity to act on it before our stop-payment cutoff time.  To be effective, your stop-payment order must precisely identify the number, date and amount of the item, and the payee.
 
You may stop payment on any item drawn on your account whether you sign the item or not, if you have an equal or greater right to withdraw from this account than the person who signed the item.  A release of the stop-payment request may be made only by the person who initiated the stop-payment order.
 
Our stop-payment cutoff time is one hour after the opening of the next banking day after the banking day on which we receive the item.  Additional limitations on our obligation to stop payment are provided by law (e.g., we paid the item in cash or we certified the item).
 
AMENDMENTS AND TERMINATIONS
We may change any term of this agreement.  Rules governing changes in interest rates are provided separately. For other changes, we will give you reasonable notice in writing or by any other method permitted by law.  We may also close this account at any time upon reasonable notice to you and tender of the account balance personally or by mail.  Notice from us to any one of you is notice to all of you.
 
STATEMENTS
You must examine your statement of account with “reasonable promptness”.  If you discover (or reasonably should have discovered) any unauthorized signatures or alterations, you must promptly notify us of the relevant facts.  As between you and us, if you fail to do either of these duties, you will have to either share the loss with us, or bear the loss entirely yourself (depending on whether we used ordinary care and, if not, whether we substantially contributed to the loss).  The loss could be not only with respect to items on the statement but other items with unauthorized signatures or alterations by the same wrongdoer.
 
You agree that the time you have to examine your statement and report to us will depend on the circumstances, but will not, in any circumstance, exceed a total of 30 days from when the statement is first sent or made available to you.
 
You further agree that if you fail to report any unauthorized signatures, alterations, forgeries, or any other errors in your account within 60 days of when we first sent or make the statement available, you cannot assert a claim against us on any items in that statement, and as between you and us the loss will be entirely yours.  This 60-day limitation is without regard to whether we used ordinary care.  The limitation in this paragraph is in addition to that contained in the first paragraph of this section.
 
DIRECT DEPOSITS
If, in connection with a direct deposit plan, we deposit any amount in an account which should have been returned to the Federal Government for any reason, you authorize us to deduct the amount of our liability to the Federal Government from the account or from any other account you have with us, without prior notice and at any time, except as prohibited by law.  We may also use any other legal remedy to recover the amount of our liability.
 
TEMPORARY ACCOUNT AGREEMENT
If this option is selected, we may restrict or prohibit further use of this account if you fail to comply with the requirements we have imposed within a reasonable time.
 
SETOFF
We may (without prior notice and when permitted by law) set off the funds in this account against any due and payable debt you owe us now or in the future, by any of you having the right of withdrawal, to the extent of such persons’ or legal entity’s right to withdraw.  If the debt arises from a note, “any due and payable debt” includes the total amount of which we are entitled to demand payment under the terms of the note at the time we set off, including any balance the due date for which we properly accelerate under the note.
 
This right of setoff does not apply to this account if:  (a) it is an IRA or other tax-deferred retirement account, or (b) the debt is created by a consumer credit transaction under a credit card plan (but this does not affect our rights under any consensual security interest), or (c) the debtor’s right of withdrawal only arises in a representative capacity.  We will not be liable for the dishonor of any check when the dishonor occurs because we set off a debt against this account.  You agree to hold us harmless from any claim arising as a result of our exercise of our right of setoff.
 
AUTHORIZED SIGNER (INDIVIDUAL ACCOUNTS ONLY)
A single individual is the owner.  The authorized signer is merely designated to conduct transactions on the owner’s behalf.  We undertake no obligation to monitor transactions to determine that they are on the owner’s behalf.
 
FACSIMILE SIGNATURES
You authorize us, at any time, to charge you for all checks, drafts, or other orders, for the payment of money, that are drawn on us regardless of by whom or by what means the facsimile signature(s) may have been affixed so long as they resemble the facsimile signature specimen filed with us, and contain the required number of signatures for this purpose.
 
RESTRICTIVE LEGENDS
We are not required to honor any restrictive legend on checks you write unless we have agreed in writing to the restriction.  Examples of restrictive legends are “must be presented within 90 days” or “not valid for more than $1,000.00”.
Location/Hours   Service Fees   Policies & Disclosures   Security   Community Links   About Us   Calculators   Site Map
Community First Bank provides banking services for Fairview Heights, Swansea, Belleville, O'Fallon, Shiloh and the Metro-East St. Louis area. Personal services include checking, CDs, savings & investments and loans. Business services include checking, CDs, loans and other business services. We also offer online banking. Other services include the CFB Debit/ATM Card, safe deposit boxes, telephone banking and credit card services. See our rates for interest bearing accounts.
Community First Bank will NEVER ask you to verify your account information online, nor will we request this information through email. Community First Bank will not ask you to supply any account information or personal information by phone or email. Any official requests for sensitive information will be written on bank letterhead. If you are in doubt regarding the validity of a request for information, please feel free to contact the bank directly for confirmation. If you think you are a victim of identity theft or if you are solicited for information, please contact the bank immediately at (618) 234-9500.