eValley Online Banking Customer Agreement and Disclosure Statement

In this agreement “you”, “your”, and “yours” refers to each of you that will be using the Naugatuck Valley Savings and Loan. Online Banking services described in this agreement. “We”, “us”, “ours”, and “Bank” refer to Naugatuck Valley Savings and Loan. “Account” refers to deposit and overdraft line of credit accounts you can access using eValley. These include all accounts that have been opened under your name as an account holder using your social security number, including accounts for which you are a joint owner. This Agreement contains the terms and conditions governing the Naugatuck Valley Savings and Loan. Online Banking service called eValley for which you have applied. eValley is an electronic banking and information service, which permits you through the use of your personal computer to access designated deposit and credit accounts and make payments on any loans through the Internet, using a browser.

• Obtain account balances for your Accounts
• Obtain transaction information for your checking and savings Accounts
• Transfer funds between your deposit Accounts other than Passbook Accounts and Certificates of Deposit
• Send electronic mail ("E-mail") to us
• Make payments on loans you have with us

These features of eValley are limited by and subject to the terms set forth below:

            (a) Your ability to transfer funds from your savings and money market accounts is limited by federal law, as stated in your Deposit Account Agreement. By law there may be a limited number of transfers from these accounts per monthly statement cycle initiated on your computer (or by means of telephone, wire or pre-authorized transfers), as described in our Deposit Account Agreement.

            (b) There may be a one (1) business day delay in transferring funds between designated accounts depending upon the day and time on which you request the transfer. Transfers are subject to funds availability.

            (c) If you overdraw your deposit account through an eValley transaction, and you have an Overdraft Line of Credit Agreement with the Bank, a loan advance will be made under the terms of the Agreement that governs that Account.

            (d) No transfers may be made from any account that requires two or more signatures.

            (e) Balance and transaction information provided on any day may be current only as of the close of business on the preceding business day. Transactional information for your Accounts will be available through eValley for the preceding four-month period beginning from the date we authorized your use of eValley.

            (f) E-mail sent by you will not be immediately received by us. See Section 9 if you need to contact us immediately (for example, to report an unauthorized transaction from an account, to stop payment on a check, to report a lost or stolen credit card). No action will be made on your E-mail request until we actually receive your message and have a reasonable opportunity to act. You cannot use E-mail to transfer funds between accounts or to conduct transactions. You must follow the instructions for eValley Online Banking to accomplish these activities.

E-mail transmission through general or public E-mail is not secure. We therefore request that you do not send us or ask for sensitive information such as account numbers, user ID, or password through any general or public E-mail system.

            (g) For security reasons, we may limit the frequency and dollar amount of transactions from your account.

            (h) We may modify eValley from time to time in accordance with applicable law. Additional services or accounts may become accessible through eValley in the future. As each becomes available you will be provided with a description of each such service or account and fees and will be given the opportunity to access each through eValley. Your use of these new services or accounts will mean that you agree to any additional terms and conditions as well as payment of fees. Also, we reserve the right to delete or modify any services or accounts from eValley.

5. User ID(s) and Password(s). After your application is accepted, we will send you a user ID and temporary password in your Welcome kit. You agree to access eValley as soon as possible to change the temporary password to your choice of a unique personal password in accordance with the online instructions. You agree to keep the user ID and password confidential to prevent unauthorized access to your Accounts and to prevent unauthorized use of eValley. Your user ID and password may be revoked or canceled at any time without giving you prior notice to assist us in maintaining the security of your Accounts. The user ID and password are used to identify you as an authorized user of eValley. You also agree not to reveal your user ID and password to any person not authorized by us to use eValley. If you believe that the secrecy of your user ID or password has been compromised you should call us AT ONCE at the number in Section 9, and you should change your password by following the online instructions.

We recommend that you change your password often, and retain your password in a secure location and separate from your computer.

6. Periodic Statements. Your periodic statements for your Accounts will include any transfers you authorize using eValley, as well as your other account activity. We will not return checks from your eValley transactions to you with your statement.

7. Business Days and Hours of Operation. For the purposes of this Agreement, our business days include every day other than Saturday, Sunday or one of the federal holidays. eValley can only make transfers on business days although you may use your Computer to use eValley 24 hours a day, seven days a week, except during any special maintenance periods. We will attempt to schedule maintenance between midnight and 6 a.m.

8. Your Liability. You are responsible for all transfers you authorize using eValley. If, contrary to Section 5 of this Agreement, you permit other persons to use eValley or your user ID or password, you are responsible for any transactions they authorize from your Accounts.

Tell us AT ONCE if you believe your user ID or password has been lost or stolen. Telephoning, as provided in Section 9, is the best way of keeping your possible losses down. You could lose all the money in your deposit accounts (plus the maximum of your overdraft line of credit). If you tell us within two (2) business days, you can lose no more than $50 from each deposit account if someone used your User ID or Password to access your deposit Account without your permission.

If you do NOT tell us within two (2) business days after you learn of the loss or theft of your User ID or Password, and we can prove we could have stopped someone from using your user ID or password without your permission if you had told us, you could lose as much as $500 from each deposit account.

Also, if your statement shows transfers from a deposit Account that you did not make, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time.

If a good reason (such as a long trip or hospital stay) kept you from telling us, we will extend the time periods.

With regard to credit Accounts, refer to your Credit Agreements for any applicable limitations on your liability in connection with unauthorized use of your credit accounts.

9. Contacts in Event of Lost or Stolen User ID or Password or Unauthorized Transactions. If you believe that your user ID or password has been lost or stolen or that someone transferred or may transfer money from your account without your permission, call us immediately at

            (203) 720-5000
            and ask for the eValley Customer Service Representative

or write us at:

            Naugatuck Valley Savings and Loan
            333 Church Street, Naugatuck, CT. 06770-0599
            Attention: eValley Customer Service Representative

10. Our Liability. We will be responsible for your actual losses if they were directly caused by our failure to complete a transfer to or from your Accounts on time or in the correct amount according to our agreements with you. However, there are some exceptions. We will not be liable, for instance:

            (a) If, through no fault of ours, you do not have enough available funds in your Account to complete a transaction from that Account, or if withdrawals from any of your Accounts have been prohibited by a court order such as a garnishment or other legal process, or if that Account has been closed.

            (b) If the transfer would go over the credit limit on your overdraft line of credit.

            (c) If the Account has been closed.

            (d) If you have not properly followed your eValley instructions on how to make a transfer or if your Computer or other equipment fails or malfunctions.

            (e) If you have not given us complete, correct and current instructions so that we can make a transfer.

            (f) If we have reason to believe that a transaction has not been properly authenticated or is fraudulent.

            (g) If eValley was not working properly and you knew or should have known about the breakdown when you attempted to authorize a transfer.

            (h) If circumstances beyond our control prevent the making of a transfer, despite reasonable precautions that we have taken. Such circumstances include, equipment failure or breakdown, acts of God or other conditions beyond our control. We will be responsible for acting only on those instructions sent through eValley, which we actually receive.

            (i) For other exceptions to our liability as stated in our Electronic Fund Transfer Agreement.

            (j) For any indirect, incidental, special or consequential damages if our failure was not intentional and resulted from a bona fide error, notwithstanding our procedures to avoid such error.

11. Error Resolution. In case of errors or questions about your eValley transactions, contact us immediately at

            (203) 720-5000
            and ask for the eValley Customer Service Representative

or write us at:

            Naugatuck Valley Savings and Loan
            333 Church Street, Naugatuck, CT. 06770-0599
            Attention: eValley Customer Service Representative

For Credit Account Transactions: Write or telephone us at the address set forth in your credit Agreement or periodic statement. For credit Account transactions, if you telephone us instead of writing, you may lose certain rights the law gives you to dispute billing errors.

If you think your statement is wrong or if you need more information about a transaction listed on the statement, we must hear from you no later than sixty (60) days after we sent the FIRST statement on which the problem or error appeared. You must:

Tell us your name and Account number(s)

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 tell us orally, we may require that you send us your complaint or question in writing within ten (10) business days.

            (a) Deposit Accounts. We will tell you the results of our investigation within ten (10) business days after we hear from you and will correct any error promptly. (We may extend this time period to 20 business days if the error occurred within 30 days of the first deposit to your account). If we need more time, however, we may take up to 45 days to investigate your complaint or question. (If the complaint or question concerned a transaction that occurred within 30 days of the first transaction to your Account, we may take up to 90 days to complete our investigation). If we decide to do this, we will re-credit your deposit 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 or question in writing and we do not receive it within ten (10) business days, we may not re-credit your deposit Account.

We will tell you the results within three 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 that we used in our investigation.

            (b) Line of Credit Accounts. You do not have to pay any amount in question while we are investigating, but you are still obligated to pay the parts of your credit Account bill that are not in question. While we investigate your question, we cannot report the amount in question as delinquent or take any action to collect the amount you question.

12. Charges for eValley. The charges for the use of eValley are listed on our Fee Schedule, which has been provided to you. This schedule may be amended from time to time to change or add fees. You authorize us to deduct all applicable eValley fees from any Account you have with us. In addition to the schedule of charges found in the Fee Schedule, the service charges and fees provided for in the applicable Deposit Account and Credit Agreements will continue to apply.

13. Disclosure of Account Information to Others. We will disclose information to third parties about you, your Accounts or the transfers you make under the following circumstances:

            (a) We have entered into an agreement to have another party assisting us in providing eValley. In order to carry out your instructions we will provide this party with, or it will receive from you, information about your Accounts, your eValley Online Banking transactions and your e-mail messages;

            (b) Where it is necessary for completing transfers;

            (c) In order to verify the existence and condition of your Accounts for a third party, such as a payee or holder of a check issued by eValley or a credit bureau;

            (d) In order to report our experience regarding your Accounts or eValley transactions to financial institutions and credit reporting agencies;

            (e) To collect any debt that you may owe to us;

            (f) We may collect customer Account data for the purpose of learning about aggregate customer usage patterns, customer telephone inquiries, and the effectiveness of eValley, but shall not disclose individual identifiable information except as provided in this Section;

            (g) In order to comply with laws, government agency rules or orders, court orders, subpoenas or other legal processes in order to give information to any government agency or official having legal authority to request such information; or

            (h) If you give us your written permission;

            (i) For any of the reasons listed in the Electronic Fund Transfer Agreement.

14. Data Recording. The information and E-mail messages relating to eValley may be recorded. By using eValley, you consent to such recording.

15. Amendment of this Agreement. We may at any time (subject to legal restrictions) amend this Agreement. We will notify you of any amendment to this Agreement as required by law. eValley and your Accounts will be governed by the Agreement as amended.

16. Assignment. We may assign our rights and delegate our duties under this Agreement to any other party.

17. Termination. In addition to our right to revoke or cancel your user ID and/or password under Section 5 of this Agreement, your ability to use any or all of the services of eValley may be terminated at any time by us or you upon giving notice of the termination to the other party. If you terminate eValley, you authorize us to continue making transfers you have previously authorized until such time as we have had a reasonable opportunity to act upon your termination notice. Once we have acted upon your termination notice, we will make no further transfers from your Accounts, including any transfer you have previously authorized. If we terminate your use of eValley, we reserve the right to make no further transfers from your Accounts, including any transactions you have previously authorized.

18. Severability. If any provision of this Agreement is held invalid, illegal, void or unenforceable by any rule or law, administrative order or judicial decision, all other provisions of the Agreement shall remain in full force.

19. Governing Law. This Agreement is governed by and shall be construed in accordance with the laws of the State of Connecticut and applicable federal law.