TRUTH-IN-SAVINGS DISCLOSURE
VALUE CHECKING ACCOUNT

Minimum balance to open the account - You must deposit $100.00 to open this account.

Fees:

A monthly service fee of $2.00 will be charged each month if you choose to have check images returned with your statements.

COMMONWEALTH CHECKING ACCOUNT
(NOW Account)

Rate Information -Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.

Determination of rate -At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account - You must deposit $100.00 to open this account.

Minimum balance to avoid imposition of fees - A service fee of $5.00 (with check safekeeping) or $6.00 (without check safekeeping) will be imposed every statement cycle if the balance in the account falls below $500.00 any day of the cycle.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum average daily balance of $1,000.00 to obtain the disclosed annual percentage yield. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is the monthly statement cycle.

Average daily balance computation method - We use the average daily balance method to calculate the interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is the monthly statement cycle.

Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

NOW Account Organization - We have organized NOW accounts in a nontraditional way. Your Commonwealth Checking account consists of two subaccounts. One of these is a checking subaccount, and you will transact business on this subaccount. The other is a nontransaction subaccount. You cannot directly access the nontransaction subaccount, but you agree that we may automatically, without a specific request from you, initiate individual transfers of funds between subaccounts from time to time at no cost to you. We will make these automatic transfers so that your ability to use your funds through your NOW subaccount will be no different than for traditional NOW accounts. You will not see any difference between the way your Commonwealth Checking operates and the way a traditionally organized checking account operates, but this organization makes us more efficient and helps to keep costs down.

SUPERCOMMONWEALTHCHECKING ACCOUNT
(NOW Account)

Rate Information -Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.

Determination of rate -At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account - You must deposit $500.00 to open this account.

Minimum balance to avoid imposition of fees - A service fee of $10.00 will be imposed every statement cycle if the combined balance in deposit accounts falls below $3,500.00 any day of the cycle.

Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

NOW Account Organization - We have organized NOW accounts in a nontraditional way. Your Super Commonwealth Checking account consists of two subaccounts. One of these is a checking subaccount, and you will transact business on this subaccount. The other is a nontransaction subaccount. You cannot directly access the nontransaction subaccount, but you agree that we may automatically, without a specific request from you, initiate individual transfers of funds between subaccounts from time to time at no cost to you. We will make these automatic transfers so that your ability to use your funds through your NOW subaccount will be no different than for traditional NOW accounts. You will not see any difference between the way your Super Commonwealth Checking operates and the way a traditionally organized checking account operates, but this organization makes us more efficient and helps to keep costs down.

HERITAGE CHECKING ACCOUNT
(55 years of age or older to open)
(NOW Account)

Rate Information -Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.

Determination of rate -At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account - You must deposit $250.00 to open this account.

Minimum balance to avoid imposition of fees - A service fee of $6.00 will be imposed every statement cycle if the average daily balance falls below $500.00 for the cycle. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.

Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

For additional benefits see your customer service representative.

NOW Account Organization - We have organized NOW accounts in a nontraditional way. Your Heritage Checking account consists of two subaccounts. One of these is a checking subaccount, and you will transact business on this subaccount. The other is a nontransaction subaccount. You cannot directly access the nontransaction subaccount, but you agree that we may automatically, without a specific request from you, initiate individual transfers of funds between subaccounts from time to time at no cost to you. We will make these automatic transfers so that your ability to use your funds through your NOW subaccount will be no different than for traditional NOW accounts. You will not see any difference between the way your Heritage Checking operates and the way a traditionally organized checking account operates, but this organization makes us more efficient and helps to keep costs down.

MONEY MARKET ACCOUNT
(Money Market Savings Account)

Rate Information -Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.

Determination of rate -At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account - You must deposit $2,500.00 to open this account.

Minimum balance to avoid imposition of fees - A service fee of $10.00 will be imposed every statement cycle if the balance in the account falls below $2,500.00 any day of the cycle.

Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Transaction limitations:

Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per monthly statement cycle with no more than three by check, draft or similar order to third parties.

Fees:

An activity fee of $5.00 will be charged for each transaction in excess of the above limitations.

HEALTH SAVINGS ACCOUNT

Rate Information - Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.

Determination of rate -At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account - You must deposit $100.00 to open this account.

Minimum balance to avoid imposition of fees - There is no minimum balance requirement to avoid the imposition of fees.

Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Fees:

A service charge fee of $3.50 will be charged each monthly statement cycle.

An account opening fee of $10.00 will be charged to open this account.

Health Savings Account Organization (NOW Account) - We have organized Health Savings accounts in a nontraditional way. Your Health Savings account consists of two subaccounts. One of these is a checking subaccount, and you will transact business on this subaccount. The other is a nontransaction subaccount. You cannot directly access the nontransaction subaccount, but you agree that we may automatically, without a specific request from you, initiate individual transfers of funds between subaccounts from time to time at no cost to you. We will make these automatic transfers so that your ability to use your funds through your Health Savings subaccount will be no different than for traditional Health Savings accounts. You will not see any difference between the way your Health Savings operates and the way a traditionally organized checking account operates, but this organization makes us more efficient and helps to keep costs down.

STATEMENT SAVINGS ACCOUNT

Rate Information -Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.

Determination of rate -At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency - Interest will be compounded monthly. Interest will be credited to your account monthly.

Effect of closing an account - If you close your account within 90 days of opening and before interest is credited, you will not receive the accrued interest and a service fee of $3.00 will be charged.

Minimum balance to open the account - You must deposit $100.00 ($50.00 for minors) to open this account.

Minimum balance to avoid imposition of fees - A service fee of $5.00 will be imposed every month if the balance in the account falls below $250.00 any day of the month. This fee will not apply to persons under 18 years of age.

Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Transaction limitations:

Transfers from a Statement Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per month with no transfers by check, draft, debit card or similar order to third parties.

Fees:

An activity fee of $1.00 will be charged for each withdrawal in excess of two during a month.

EDUCATION CLUB ACCOUNT

Rate Information - Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.

Determination of rate - At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency - Interest will be compounded every quarter. Interest will be credited to your account every quarter.

Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to open the account - You must deposit $50.00 to open this account.

Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Transaction limitations:

The minimum additional amount you may deposit to your account is $10.00.

Fees:

A premature withdrawal fee of $25.00 will be charged if any withdrawals are made prior to age 17 or high school graduation.

This fee will not apply if the withdrawal is used for parochial school tuition.

An early closing fee of $25.00 will be charged if the account holder closes the account before age 17.

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---------------------- REGULAR CERTIFICATE OF DEPOSIT
---------------------- PREFERRED CERTIFICATE OF DEPOSIT
(To qualify for this certificate, you must have one other deposit account with the bank.)
---------------------- SENIOR CITIZENS CERTIFICATE OF DEPOSIT
(To qualify for this certificate you must be age 55 or older.)

Rate Information (fixed rate account) - The interest rate on your account is ------------% with an annual percentage yield of ------------%. You will be paid this rate until first maturity.

Convertible Certificate Option Plan and Rate Information (variable rate account): The interest rate on your account is ------------% with an annual percentage yield of ------------%. The interest rate and annual percentage yield may change. We will not change the rate on your account during the term of the account. However, you have the option to exchange this interest rate every 90 days with a minimum balance of $2,500.00. The new interest rate will be the interest rate we are then offering on time deposits of the amount of this account (or less) with the same term (or shorter) as the original term of this account. This exchange will be at no cost to you. If you make an exchange, the maturity date of this account will be reset to correspond to the term of the rate you selected. You may exercise this option every 90 days with a minimum balance of $2,500.00.

Compounding frequency -Interest will be compounded every -------------------------------------------------------------------------------------------- .

Crediting frequency -Interest will be credited to your account every ---------------------------------------------------------------------------------------- .

Effect of closing an account - If a depositor closes an account after accruing interest, but before crediting, the depositor will not forfeit that interest.

Minimum balance to open the account - You must deposit $1,000.00 to open this account.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $1,000.00 in the account each day to obtain the disclosed annual percentage yield.

Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Transaction limitations:

You may not make any deposits into your account before maturity.

You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal.

You can only withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest any time during the term of crediting after it is credited to your account.

Time requirements -Your account will mature ------------------------------ .

Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity) -

In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. Other exceptions may also apply, for example, if this is part of an IRA or other tax-deferred savings plan.

For any time deposit which earns an interest rate that may vary from time to time during the term, the interest rate we will use to calculate this early withdrawal penalty will be the interest rate in effect at the time of the withdrawal.

Withdrawal of interest prior to maturity - The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.

Automatically renewable time account - This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within any grace period mentioned below) or we receive written notice from you within any grace period mentioned below. We can prevent renewal if we mail notice to you at least 30 calendar days before maturity. If either you or we prevent renewal, interest will not accrue after final maturity.

Variable Rate - Each renewal term will be the same as the original term, beginning on the maturity date. Interest will be calculated on the same basis as during the original term.

Fixed Rate - Each renewal term will be the same as the original term, beginning on the maturity date. The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features as the original time deposit.

You will have ten calendar days after maturity to withdraw the funds without a penalty.

Non-automatically renewable time account - This account will not automatically renew at maturity. If you do not renew the account, interest will not accrue after maturity.

12 MONTH NO PENALTY CERTIFICATE OF DEPOSIT

Rate Information - The interest rate on your account is ------------% with an annual percentage yield of ------------%. You will be paid this rate until maturity.

Penalty Free Option Plan: A one-time withdrawal of up to 100 percent of the account balance is permitted after the first seven days of the certificate's term.

Compounding frequency -Interest will be compounded every quarter.

Crediting frequency -Interest will be credited to your account every quarter.

Minimum balance to open the account - You must deposit $5,000.00 to open this account.

Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Transaction limitations:

You may not make any deposits into your account before maturity.

You may make one withdrawal of principal and/or accrued interest without penalty during the one year term. No withdrawals will be allowed during the first seven days of the certificate's term.

Time requirements -Your account will mature in 12 months.

Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity) -

If you have made a penalty-free withdrawal during the 12 month term, the fee we may impose will equal three months interest on the amount withdrawn subject to penalty.

In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.

Withdrawal of interest prior to maturity - The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.

Automatically renewable time account - This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within any grace period mentioned below) or we receive written notice from you within any grace period mentioned below. We can prevent renewal if we mail notice to you at least 30 calendar days before maturity. If either you or we prevent renewal, interest will not accrue after final maturity.

Each renewal term will be the same as the original term, beginning on the maturity date. The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features as the original time deposit.

You will have ten calendar days after maturity to withdraw the funds without a penalty.

IRA VARIABLE RATE SAVINGS ACCOUNT

Rate Information (variable rate account) - The interest rate on your account is ----------% with an annual percentage yield of ----------%. Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.

Determination of rate -At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency - Interest will be compounded every quarter. Interest will be credited to your account every quarter.

Effect of closing an account - If a depositor closes an account after accruing interest, but before crediting, the depositor will not forfeit that interest.

Minimum balance to open the account - You must deposit $50.00 to open this account.

Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity) -

Fees:

A service fee of $10.00 will be charged for each partial withdrawal occurring in any month other than January and a service fee of $25.00 will be charged for each full withdrawal occurring in any month other than January. These fees will apply to any withdrawal if the account holder is under the age of 59 1/2.

MONEY MOVR

Automatic overdraft coverage via transfers from your Bay Community Bank Savings account. With Money Movr, there are no annual fees, just a transfer fee when an overdraft occurs. If you accidentally write a check for more than your balance, the money needed is automatically advanced to your account.

Up to two transfers per month from Savings to cover any overdraft. The fee for each transfer is a $5.00 service charge. Should you have more than two transfers in a month, an additional charge of $1.00 per occurrence will result.

--------------------------

The categories of transactions for which an overdraft fee may be imposed are those by any of the following means: check, in-person withdrawal, ATM withdrawal, or other electronic means.

--------------------------

YOUR ACCOUNT

These are the accounts you have opened or inquired about. Further details about these accounts are inside this brochure. If the figures are not filled in, please see the insert that is with this disclosure or your periodic statement.

VALUE CHECKING ACCOUNT

COMMONWEALTH CHECKING ACCOUNT (NOW Account)

The interest rate for your account is ----------%

with an annual percentage yield of ----------%.

SUPER COMMONWEALTHCHECKING ACCOUNT (NOW Account)

Rate Information:

HERITAGE CHECKING ACCOUNT (NOW Account)

The interest rate for your account is ----------%

with an annual percentage yield of ----------%.

MONEY MARKET ACCOUNT
(Money Market Savings Account)

Rate Information:

HEALTH SAVINGS ACCOUNT

Rate Information:

STATEMENT SAVINGS ACCOUNT

The interest rate for your account is ----------%

with an annual percentage yield of ----------%.

EDUCATION CLUB ACCOUNT

The interest rate for your account is ----------%

with an annual percentage yield of ----------%.

------------------------ REGULAR CERTIFICATE OF DEPOSIT

------------------------ PREFERRED CERTIFICATE OF DEPOSIT

------------------------ SENIOR CITIZENS CERTIFICATE OF DEPOSIT

12 MONTH NO PENALTY CERTIFICATE OF DEPOSIT

IRA VARIABLE RATE SAVINGS ACCOUNT

 

 

WilliamsburgOffices:
Route 5 John Tyler Highway
757-229-5448
Monticello Avenue
757-258-2681

Newport NewsOffice:
Pilot House Drive
757-599-0895

Grafton Office:
757-833-5970

www.baycommunitybank.com
MEMBER FDIC

 

1336850-020
Rev. 2/08
© 1992 Wolters Kluwer Financial Services - Bankers Systems™
Form TIS-BRO   8/19/92   Custom 4r

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