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Disclosures

Last Updated: April 28, 2025

Introduction

1. This Disclosures document contains important information about NovaPride's banking and financial services. These disclosures are provided to help you understand our policies, fees, and terms related to the accounts and services we offer.

FDIC Insurance

2. NovaPride deposit accounts are FDIC-insured up to the maximum amount allowed by law, which is currently $250,000 per depositor, per insured bank, for each account ownership category. For more information about FDIC insurance coverage, please visit www.fdic.gov/resources/deposit-insurance/.

Electronic Funds Transfer (EFT) Disclosure

3. This disclosure outlines your rights and responsibilities concerning electronic fund transfers, including transfers made using our mobile app, online banking, ATMs, and other electronic methods.

3.1 Types of Electronic Fund Transfers

The following types of electronic fund transfers are available:

  • Direct deposits
  • Preauthorized withdrawals
  • ATM transactions
  • Point-of-sale (POS) transactions
  • Online and mobile banking transfers
  • External account transfers

3.2 Transfer Limitations

For security reasons, we may impose limitations on the frequency, number, and dollar amount of electronic transfers. These limitations are disclosed at account opening and may change from time to time.

3.3 Unauthorized Transfers

Tell us AT ONCE if you believe your username, password, or mobile device has been lost, stolen, or compromised, or if you believe that an electronic fund transfer has been made without your permission. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account.

Truth in Savings Disclosure

4. This disclosure contains information about our deposit accounts, including interest rates, annual percentage yields (APY), balance requirements, and fees.

4.1 Rate Information

The interest rate and annual percentage yield (APY) for your account are variable and may change at our discretion. Current rates are available on our website or by contacting customer service.

4.2 Compounding and Crediting

Interest will be compounded daily and credited to your account monthly. If you close your account before interest is credited, you will not receive the accrued interest.

4.3 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.

Fee Schedule

5. The following fees may apply to your account:

  • Monthly Maintenance Fee: $0
  • ATM Fee (NovaPride Network): $0
  • ATM Fee (Non-NovaPride Network): $0 (NovaPride does not charge a fee, but the ATM operator may charge a fee)
  • Overdraft Fee: $0
  • Returned Item Fee: $0
  • Stop Payment Fee: $15 per request
  • Wire Transfer Fee (Incoming): $0
  • Wire Transfer Fee (Outgoing Domestic): $25 per wire
  • Wire Transfer Fee (Outgoing International): $40 per wire

Funds Availability Policy

6. Our policy is to make funds from your deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once they are available, you can withdraw the funds in cash and we will use the funds to pay checks that you have written.

For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays.

6.1 Longer Delays May Apply

In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit. Depending on the type of check that you deposit, funds may not be available until the second business day after the day of your deposit. However, the first $225 of your deposits will be available on the first business day.

Privacy Notice

7. We are committed to protecting your personal information. Please refer to our Privacy Policy for details on how we collect, use, share, and protect your information.

Changes to Disclosures

8. We may change these disclosures at any time. We will notify you of any changes as required by applicable law.

If you have any questions about these disclosures, please contact us at [email protected] or call us at (800) 555-0123.