ELECTRONIC FUNDS TRANSFER AGREEMENT and DISCLOSURES
Your Rights and Responsibilities
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This agreement (the “EFT Agreement”) governs your use of Electronic Transfer Services described below (“EFT Services”) that are available for the Accounts opened through Century Bank Direct (“Century Bank” and “Bank”) a division of Century Bank of Kentucky, Inc., Website (“the Website”). Electronic transfers are electronically initiated transfers of money involving an account at Century Bank Direct. Some of the EFT Services the Bank is capable of handling may not apply to your account. The following provisions apply only to accounts established primarily for personal, family, or household purposes. This EFT Agreement describes your rights as well as your responsibilities and as such should be read carefully. We recommend you keep the EFT Agreement for future reference.

Definitions … In this EFT Agreement, “Checking Account” means a Demand Deposit Account (DDA), a Negotiable Order of Withdrawal (NOW) account or a Money Market account that you open through the Century Bank Direct Website; “Savings Account” means any Certificate of Deposit or Savings account at the Bank opened through the Website; “Card” means a VISA^© Debit Card that includes automated teller machine access to your Checking and Savings account; “PIN” means the personal identification number you use in connection with your Card; “Password” means the password you use to access the Website and your Bank Accounts through a personal computer or other electronic terminal; “Access Device” means your Card, Password, or other device or code we make available to you to access your Accounts; “Business Day” means Monday through Friday, except federal holidays; and “Authorized User” means any person you authorize or permit to use your Card, Password, or other Access Device to access your Accounts, whether that person uses the Access Device to obtain information or conduct a transaction. “ACH” means transactions initiated through the Automated Clearing House.

We offer the following types of EFT Services for your Accounts with Century Bank Direct:

Preauthorized Credits and Debits

Your may arrange for us to complete the following preauthorized transfers to or from your Account (excepting Certificates of Deposit):

• Accept certain direct deposits to your Checking and/or Savings accounts. These would include deposits from the US Treasury Department, your employer or other financial institutions.
• Pay certain recurring bills or payments from your Checking and/or Savings account in the amount and on the specific day you request.
• Accept the initial deposit when opening a new Checking or Savings account via ACH from an account you have established with another financial institution.

Limitations on Dollar Amounts … The Bank reserves the right to limit the amount of the initial deposit of a new account when funding the account via an ACH transfer. In most cases, when opening a checking account via an ACH transfer, your initial deposit will be limited to a maximum of $15,000; when opening a money market, savings or certificate of deposit account via an ACH transfer, your initial deposit will be limited to a maximum of $25,000.

Fees and Charges … We do not charge for preauthorized electronic transfers except:

• When transferring funds to another financial institution on your behalf for deposit to an account in which you have ownership. This could be via wire transfer or via ACH. The fee for this service will be provided to you prior to your authorization of the transaction.
• NSF Paid Item fee of $29.95 for each item
• NSF Returned Item fee of $29.95 for each item
• When you issue a stop-payment order on a transaction you have authorized. The fee for this service will be $31.95 for each stop-payment order.

Stop Payment Rights and How to … If you have told us in advance to make regular payments out of your account, you can stop any of these payments by calling, e-mailing or writing us at the telephone number(s) or addresses listed at the end of this disclosure at least three (3) business days before the payment is scheduled to be made. If you call, we will require you to also put your request in writing and deliver it to us within fourteen (14) days of your call.

Notice of Varying Amounts … If these regular payments vary in amount, the entity you are going to pay will tell you ten (10) days before each payment, when it will be made and how much it will be. You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.

Limitations on Frequency of Transfers … Transfers from a savings or money market account to another account or to third parties by preauthorized, automatic, telephone, or internet transfer are limited to six per month or statement cycle with no more than three (3) by check, debit card or similar order to third parties.

ATM and VISA^© Debit Card Transactions

Protecting Your Card and PIN … For your banking convenience and 7/24 access to your money, we offer qualifying checking accounts opened via Century Bank Direct a VISA^© Debit Card which also provides ATM access to your account. This Card is the property of the Bank and we may request you to return it to us at any time. Each Card is used in conjunction with an authorizing personal identification number (PIN). To guard against someone initiating a transaction you have not authorized, you must take all reasonable precautions to prevent any other person from learning your PIN. If you permit or authorize another person to use your Card and PIN, you will be liable for all resulting transactions. If your card is lost or stolen, please call us at 1-877-965-1118, option #3 immediately.

Types of Transfers … You may use your VISA^© Debit Card along with your PIN to initiate transactions at ATMs. You may also use your Card to purchase goods and services from merchants who have agreed to accept your Card as a means of payment. These point-of-sale (POS) transfers may be authorized by using your PIN or by providing your signature on a sales receipt. (A stop payment may not be ordered on POS transfers once authorized by using your PIN or by providing your signature on a sales receipt.)
You may perform the following types of transactions (some services may not be available at all terminals):

• Deposit funds into your checking or savings account
• Withdraw cash from your checking or savings account
• Transfer funds between your checking and savings account
• Make miscellaneous payments including loan payments
• Obtain balance information on your checking or savings account
• Pay for purchases at merchants who have agreed to accept the Card at POS terminals
• Purchase goods (in person, by phone, or via electronic media), get cash from a merchant if the merchant permits or from a participating financial institution, and do any transaction you can do with a credit card at places that have agreed to accept VISA^© cards.

Preauthorization Holds … When using your VISA© Debit Card at a POS terminal or other electronic media, the merchant may attempt to obtain preauthorization from us for the transaction. When the preauthorization is approved by us, we immediately debit the preauthorized amount from your designated account. If this amount varies from the amount of the actual transaction you approved, this process may affect the availability of funds in your account. We will not be responsible for damages for wrongful dishonor of any items not paid because the amount requested by the merchant differed from the actual amount you approved.

Limitations of Dollar Amounts … There may be restrictions on the amount of specific transactions you may perform with your VISA^© Debit Card, including:

• You may withdraw cash from ATMs up to a maximum of $200 (if there are sufficient funds in your account) per day.
• If the ATM is in an “offline” mode, the daily limit is $100.
• You may make purchases and/or withdraw cash using your VISA^© Debit Card and PIN up to a maximum of $1,000 (if there are sufficient funds in your account) per day.
• If the POS is in an “offline” mode, the daily limit is $500.
• You may make purchases and/or withdraw cash using your VISA^© Debit Card as a credit purchase up to a maximum of $1,000 (if there are sufficient funds in your account) per day.
• If the POS is in an “offline” mode, the daily limit is $500.

Fees … When using an ATM not owned by us (“foreign ATM”), you may be charged a fee by the bank or network operating the ATM. These fees may be charged for a balance inquiry even when you do not complete a funds transfer or withdrawal. We will reimburse your checking account opened through Century Bank Direct for the first five (5) fees from foreign ATMs during each statement period. After five, you will be charged any foreign ATM fees assessed by another financial institution and they will not be eligible for reimbursement.

• Currency Transaction Fee: 1% of the international currency conversion transaction in US dollars.
• Cross Border Fee: 0.80% for single currency International transaction.

Internet Banking and Online Bill Pay

For your convenience, the Bank provides the availability of our Internet Banking and Online Bill Pay services. These services are offered by using a personal computer or terminal and the use of these services are governed by the “Terms of Use” and “Security Statement “ disclosures.
Types of Transactions … By using your assigned user ID and password for access, you may perform the following functions:

• Transfer funds between eligible accounts
• Obtain balance information on eligible accounts
• Review transactions on eligible accounts
• Make loan payments
• Advance funds from a Home Equity credit line
• Allow export of transaction history to a personal financial software product
• Authorize one-time and recurring bill payments via the Bank’s online bill pay service
  

Fees and Charges … There are no specific fees for unlimited usage of the Bank’s Internet Banking and Online Bill Pay services with the following exceptions:

• NSF Paid Item fee of $29.95 for each item
• NSF Returned Item fee of $29.95 for each item
• $31.95 for each stop payment order issued
• Our third-party online bill pay vendor, CheckFree^®, will also charge your account a $25.00 Bill Pay service fee for each non-sufficient funds item .
  

Electronic Check Conversions

You may access certain account(s) you maintain with us by other EFT transaction types. Your check can result in an electronic funds transfer. This can happen in several ways, including:

• You purchase goods or pay for services and authorize a merchant or service provider to convert the information on your check to initiate a one-time EFT. A description of the transaction will appear on your statement.
• At the time you offer a check to a merchant or service provider, you may also be asked to authorize the merchant or service provider to electronically collect a charge in the even that the check is returned due to insufficient or unavailable funds. The fee is considered an EFT and a description of the transaction will appear on your statement.
  

Documentation

Terminal Transfers … You can get a receipt at the time you make any transfer to or from your account using an ATM or any VISA^© authorized POS terminal. A financial institution is not subject to the requirement to make available a receipt if the amount of the transfer is $15 or less.

Preauthorized/Prearranged Transfers … If you have arranged to have direct deposits made to your account or directed us to make electronic payments at least every sixty (60) days from/to the same person or company, you can call us to find out whether or not the transfer has been made. You may also view the activity in your account by using the Bank’s online banking service at any time.

Periodic Statements … You will receive a monthly account e-statement on your checking, savings or money market account showing the transactions in your account during the statement period.

Confidentiality

We will disclose information to third parties about your account or the transfers you make only:

• Where it is necessary for completing transfers
• In order to verify the existence and condition of your account for a third party such as a credit bureau or merchant
• In order to comply with government or court orders
• If you give us written permission

Our Responsibilities and Liability

Liability for Failure to Make Transfers … If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages only directly caused by this failure. However, there are some exceptions. For instance, we will not be liable if:

• Through no fault of ours, you do not have enough available money in your account to make the transfer
• The transfer would go over the credit limit in any overdraft line you may have
• The ATM where you are making the withdrawal does not have enough cash
• The terminal or system was not working properly and you knew about the breakdown when you started the transfer
• Circumstances beyond our control (such as fire or flood) prevent the transfer despite reasonable precautions we have taken.
• We have stated other exceptions in agreements with you.

Liability for Failure to Stop Payment … If you order us to stop one of these payments three (3) business days or more before the transaction is scheduled, and we do not do so, we will be liable for your losses and damages only directly caused by this failure.

Your Responsibilities and Liability

Tell us at Once … If you believe your VISA^© Debit Card or any other Access Device has been lost or stolen or if you think your PIN or Password is no longer secure or confidential. Telephoning us is the best and fastest way of keeping your possible losses to a minimum. Depending on the circumstances, your losses may be:

• No more than $50.00 if someone used your Card without your permission if you tell us within two business days
• As much as $500.00 if you do not tell us within two business days after you learn of the loss or theft and we can prove we could have stopped unauthorized transactions if you had told us.
• If your on-line statement shows transactions you did not make, TELL US AT ONCE. If you do not tell us within sixty (60) days after the daily transactions are provided to you on the Website, you may not get back any money you lost after the sixty (60) days if we can prove we could have prevented the transactions if you had told us in time.
  

Error Resolution

You should telephone us at 1-877-444-2259 or e-mail us at csr@centurybankdirect.com as soon as you can if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than sixty (60) days after we sent the FIRST statement on which the problem or error appeared. If you contact us by e-mail, it is very important that you do not include personal information such as your account number in your email. Simply give us your name and alert us your card is lost or stolen. We will respond via a secure email detailing any additional information we will need.

• Tell us your name and account number (if any)
• Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information
• Tell us the dollar amount of the suspected error
• If you telephone us, we will require you to send us your complaint or questions in writing within ten (10) business days via e-mail or at Century Bank, 201 West Woodford Street, Lawrenceburg, KY 40342.

We will determine whether an error occurred within ten (10) business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or question. If we decide to do this, we will credit your account within ten (10) business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint in writing and we do not receive it within ten (10) business days, we may not credit your account.

For errors involving new accounts, POS, or foreign- initiated transactions, we may take up to ninety (90) days to investigate your complaint or question. For new accounts, we may take up to twenty (20) business days to credit your account for the amount you think is in error.

We will tell you the results of our investigation 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 we used in our investigation.

If a notice of error involves unauthorized use of your VISA© Debit Card when used as a VISA© credit (signature required) transaction, we will provide provisional credit within five (5) business days after you notify us. We may withhold providing this accelerated provisional credit to the extent allowed under applicable law, if the circumstances or account history warrants the delay.

Personal Identification Number (PIN) … The ATM PIN that was assigned to you or the Audio Response PIN or the Internet Banking PIN that your created is for your security. The PINs are confidential and should not be disclosed to third parties or recorded on the Card. You are responsible for the safekeeping of your PIN(s).

Termination of Services
Termination of Card, Audio Response, and Internet Banking Services … The Bank reserves the right to terminate the agreement(s) with you concerning the use of ATM, VISA© Debit Card, Bank-by-Phone, Internet Banking and Online Bill Pay services if:
We have reason to believe that there has been unauthorized use of your Card PIN, Bank-by-Phone PIN or Internet Banking and Online Bill Pay password.
You have not used your service(s) responsibly, including authorizing transactions involving insufficient funds using any electronic device.
We will notify you, or any other party to your account, in writing that we have cancelled or will cancel the agreement on a specific date. You, or any other party to your account, may terminate the agreement by notifying us in writing. Termination of the agreement will not affect the rights and responsibilities of the parties under the agreement for transactions initiated prior to termination.

Business Hours and How to Reach Us

How to Reach Us … There are several ways you can reach us at Century Bank, including:

Century Bank Direct
E-mail: csr@centurybankdirect.com
Toll free telephone 1-877-444-2259
Bank-by-Phone 1-877-965-1118
Mail 201 West Woodford Street, Lawrenceburg, KY 40342

Century Bank of Kentucky, Inc.
Telephone 502-859-5111
Bank-by-Phone 1-877-965-1118
Mail 201 West Woodford Street, Lawrenceburg, KY 40342

Business Hours … Century Bank Direct is available electronically 24/7. We are staffed Monday through Friday (excluding federal holidays) from 8:00 am to 5:00 pm EST.

ADDITIONAL DISCLOSURE ON ELECTRONIC TRANSACTIONS
Electronic “Wholesale Credit” Transactions
Subject to Uniform Commercial Code Article 4A

Provisional Payment … Credit given by us to you with respect to an ACH credit entry is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive such final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to you in connection with such entry, and the party making payment to you via such entry (i.e. the originator of the entry) shall not be deemed to have paid you in the amount of such entry.
Notice of Receipt of Entry … Under the operating rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving your account, we are not required to give next day notice to you or receipt of an ACH item and we will not do so. However, we will continue to notify you of the receipt of payments in the periodic statement we provide to you.
Choice of Law … We may accept on your behalf payments to your account which have been transmitted through one or more Clearing Houses (ACH) and which are not subject to the Electronic Funds Transfer Act and your rights and obligations with respect to such payments shall be construed in accordance with and governed by the laws of the state of New York, unless it has otherwise specified in a separate agreement that the law of some other state shall govern.

We may report information about your account to credit bureaus.
Late payments, missed payments or other defaults on your account may be reflected in your credit report.

www.centurybankdirect.com
Century Bank of Kentucky, Inc

4/7/2008