"As we prepare for future growth, we hope you’ll
grow with us. "

 

Steven C. Bush
Chairman, President and Chief Executive Officer

System Upgrade Summary

Details for Important Banking Changes Effective on August 8, 2022

This system upgrade allows us to continue to follow our core mission: To provide affordable, reliable banking products in the neighborhoods we serve. You may not see the full impact this upgrade has on our behind-the-scenes systems, but there are some changes that you can notice right away, including easier-to-understand, combined statements, quicker servicing of transactions, and paperless account opening in our branches. 

Thank you for your patience during our system update.

What Hasn't Changed /Is Not Affected?

  • Your account number(s) has not changed.

  • Your checkbook(s) does not need to be replaced.

  • Your ATM and/or Debit Card does not need to be replaced, and your card PIN has not changed.

  • Your Online Banking and mobile app user ID and password have not changed.

  • Your pre-existing direct deposits, recurring bill payments and pre-authorized debits are not affected and continue to be credited/debited from your account as scheduled. 


No Monthly maintenance fees
Good news! If any of your accounts are subject to a minimum balance service charge, the Bank is waiving those service charges for the August 5 statement and for all statement cycles through the September 10, 2022 statement cycle. 


Minimum balance requirements to avoid monthly maintenance charges resume beginning the day following the August 20, August 31 and September 10 statement cycles. Any applicable charges will be included in the following September 20, September 30 and October 10 statement cycles.  

Thumbs-up.JPGBenefits of the System Upgrade

While much of the work completed during the upgrade serves as the basis for future enhancements to your banking experience, the following enhanced features and benefits of the upgrade are currently visible to you:

  • Your deposit account statement now lists all transactions for the statement period in chronological order, rather than separating debits and credits.

  • Your checking account statement now includes larger images of the front of any checks you wrote to others that were paid during that statement cycle.

  • Customers with money market accounts now receive images of the front of paid checks in their monthly statement.

  • All checking, NOW, savings and money market accounts now receive monthly statements, regardless of account activity.

  • If you have a line of credit with us, you are now receiving a separate monthly statement for that account, making it easier to identify advances and payments. The statement includes a coupon for your use when making your monthly payment.

  • If you have a SureLoan® with Apple Bank, the coupon booklet previously provided to you has been replaced by a monthly statement, which will be issued 15 days in advance of your payment due date. The monthly statement includes the coupon for making your monthly payment. Be sure to destroy your existing coupon book, as it will no longer be valid.

  • You now have the ability to make SureLoan® and SureLine® payments directly through Online Banking. 
At the time of new account opening, you can choose to receive all disclosures and account opening documents electronically via email.   This allows for:

  •  A more expeditious process to open accounts

  •  An electronic copy of your disclosures and account terms for your future reference

  •  An electronic file of your account information and signature for historical purposes
Elimination of Non-Sufficient Funds Fees (NSFs):
  • Effective August 8, 2022, Apple Bank no longer imposes an NSF fee when a transaction is returned unpaid because your account did not maintain sufficient available and/or collected funds to pay the item when presented.
  • Apple Bank will continue to apply a $35 overdraft fee for each transaction it pays, in its sole discretion, against insufficient, unavailable or uncollected funds.
  • Apple Bank will limit the number of overdraft fees it imposes in a given day to a maximum of three (3) overdraft charges per day. If you are part of the Bank’s grandfathered Extended Overdraft Program (related to one-time ATM and POS transactions), there are no changes to the way overdraft fees are imposed for overdrawing your account for a one-time ATM or POS transaction. However, you can incur no more than three (3) combined overdraft fees per day (i.e., in-clearing checks, ACH/EFT, ATM or POS transactions).

Elimination of Point-of-Sale (POS) Purchase Fees:
  • Effective August 8, 2022, for all accounts, Apple Bank no longer assesses a $2.00 POS transaction fee when you use your Apple Bank ATM or Visa® Debit Card to make a PIN-based transaction to purchase goods and services at merchant locations. As per your specific account disclosure, the $2.00 fee for ATM transactions performed at non-Apple Bank ATMs remains in effect.

Monthly Maintenance Fees:
  • The monthly maintenance fee for certain consumer checking, NOW Checking and savings accounts that receive a recurring federal direct deposit (i.e., Social Security) is waived with any direct deposit (i.e., payroll or otherwise), for any amount, in each month such a deposit is credited to your account.

CD Penalties:
  • Effective August 8, 2022, the fee charged for premature withdrawals from a CD is reduced as follows:
    • Accounts with terms of less than 1 year lose $25 plus 1% of the amount withdrawn.
    • Accounts with terms of 1 year or more lose $25 plus 3% of the amount withdrawn.