New regulations are affecting overdraft protection policies at banks nationwide, and this letter is to inform you about changes that could impact you.

Here at State Bank of Cerro Gordo, we make every attempt to avoid the negative impacts of overdrawn accounts, so when accounts are opened, our customers are typically enrolled in our standard overdraft service which currently includes checks, automatic payments, and ATM and debit card transactions.

But beginning August 15, 2010, the everyday purchases you make with your debit card and your ATM transactions will no longer be covered by our standard overdraft service. This means that if you use your ATM or debit card and you do not have enough money in your account to cover that transaction, your card could be denied.

If you want to continue overdraft protection on your ATM and everyday debit card transactions, you must give us your permission by opting-in to keep this service.

To opt-in, please complete the attached form and return it to the main bank, fax it to 217-763-2741, or mail it to State Bank of Cerro Gordo, PO Box 440, Cerro Gordo, Illinois 61818. You can also call us at 217-763-2741 and one of our representatives will be happy to assist you with opting-in.

Only one account holder needs to respond for joint accounts, and you can give or revoke your consent at any time.

Remember, without your permission, your ATM and debit card transactions will be declined if there are insufficient funds in your account. If you have any questions, don’t hesitate to call us at 217-763-2741.

Sincerely,
State Bank of Cerro Gordo

What You Need to Know about Overdrafts and Overdraft Fees

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

1. You currently have Bounce Protection©, which is an overdraft protection privilege that allows you to use a certain amount for a fee so that a check does not get returned.

2. We also offer overdraft protection plans, such as cash management which is a link to a savings account and may be less expensive than our standard overdraft practices or Bounce Protection©. To learn more, ask us about these plans.

This notice explains our overdraft protection plan called Bounce Protection©.

What are the overdraft practices for Bounce Protection© that come with my account?

We do authorize and pay overdrafts for the following types of transactions:
• Checks and other transactions made using your checking account number
• Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):
• ATM transactions
• Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if State Bank of Cerro Gordo pays my overdraft?

Under our standard Bounce Protection© practices:
• We will charge you a fee of up to $20 each time we pay an overdraft.
• There is a $25 fee for each returned check.
• There is no limit on the total fees we can charge you for overdrawing your account.

What if I want State Bank of Cerro Gordo to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call 217-763-2741, visit www.bankcerrogordo.com, or complete the form below and return to our main bank lobby, drive-thru, or night depository. You may also mail this form to us at PO Box 440, Cerro Gordo, Illinois 61818.


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