First Navy Bank

Paper checks are processed at Federal Reserve processing centers. Over the last several years, the Federal Reserve has begun the consolidation of their check processing centers in an effort to convert the processing of paper checks to image files of those items. Initially this was a very expensive process for banks to undertake. At that time, we chose to continue processing paper checks through the remaining Federal Reserve processing centers.

As the Federal Reserve has closed more and more processing centers, they have continued to reduce the fees for processing check images. Now that the fees have substantially decreased, check images are now more affordable and efficient to process than paper checks. Switching to check images will allow us to maintain our commitment of keeping fees as low as possible and give us the ability to offer improved teller, online and telephone banking services.

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2. WHEN WILL THE SWITCH HAPPEN?

We will start processing checks with the new system on October 19, 2009. Statements processed on or after October 19, 2009 will have check images instead of cancelled checks.

To accomplish this conversion, we will provide a statement of your account as of the close of business on October 16, 2009. On Saturday, October 17th and Sunday, October 18th, we will be converting our data processing to the new system.

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3. HOW WILL THIS CHANGE MY STATEMENTS?

Initially, a statement will be processed for your account as of the close of business on October 16, 2009.

Your new statements (all statements processed after October 18th) will feature check images paid against your account. These images will replace the cancelled checks you have been receiving with your statements.

Your statement date may change. If your statement date changes and the change does not fit your particular needs, please do not hesitate to contact us. It is possible for us to make some alterations that will better suit your needs.

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4. WILL THERE BE ANY INTERRUPTION OF BANKING SERVICES DURING THE TRANSITION?

We are performing the conversion over the weekend of October 17th and 18th, 2009, in an effort to reduce the impact the conversion process will have on your banking services. While any impact on services during this transition will be minimal, the following services may be affected:

Service Interruption
During our conversion on Saturday, October 17th and Sunday, October 18th, 2009, NetTeller™ Internet Banking will be unavailable and ATM withdrawals and Debit Card purchases will be restricted to the offline limits available on the card and at the ATM. To find out what the offline limits are, please contact First Navy Bank. You will be responsible for not overdrawing your account.

Statement Date Changes
As a result of the conversion, the timeframe that you receive your monthly bank statement may change to a different cycle during the month. Should you find that your statement cycle does not fit your particular needs, please do not hesitate to contact us. It is possible for us to make some alterations that will better suit your needs.

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5. WHAT DO I DO IF I DON’T UNDERSTAND MY NEW STATEMENTS OR I HAVE TROUBLE READING THEM?

Images of paid checks on your account will be included with your statement, instead of the actual cancelled checks. Should you find the images received with your statement are of a size that is unsuitable to you, please do not hesitate to contact us. It is possible for us to make some alterations that will better suit your needs.

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6. WHAT ARE THE BENEFITS OF THE NEW SYSTEM?

Enhanced NetTeller™ Internet Banking
- Our internet banking system will be greatly enhanced and provide the capability of showing printable copies of the items paid on your account on or after October 19, 2009.
- Real-time information regarding incoming ACH transactions to be paid on your account.
- Real-time information regarding incoming checks to be paid on your account.
- Lost/Stolen Debit Cards can be reported 24/7 through our online system.
- Lost/Stolen Debit cards may also be reported through our telephone banking system.

Teller Services
- Our tellers will be working in an on-line environment, which will aid in processing your over-the-counter transactions. Consolidated, grocery-style receipts will be provided with your teller transactions. Multiple transactions will now be listed on one receipt. To enhance security only the last 4 digits of your account number will be printed on your receipt.

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7. DO IMAGES COST MORE?

There are no fee changes associated with the conversion to our check processing system.

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