November 16, 2023

TO: Westfield Bank Retail Team

FROM: Elizabeth Bickel

SUBJECT: New Consumer, Business, & Private Banking Account Disclosures

IMPORTANT ACCOUNT INFORMATION FOR OUR CUSTOMERS

Beginning December 1, 2023 every new account opened will receive a new disclosure booklet. These
booklets contain all the terms and conditions information as well as the specific details for each product
we offer.

1. Beginning December 1, discontinue use of old booklets and shred any remaining in branch as
they are now expired and contain inaccurate information.

2. You must discontinue separate standalone disclosures. The updated privacy policy and Select
MM special disclosure have been included in the new booklets –and will no longer be included
as uploads to Identifi with your workflows. Please shred any old privacy policies in branch.
NOTE: MM addendums are still separate disclosures and uploaded to workflows as we fill in
date and rates on those.

3. Each branch will automatically receive 50 Consumer and 50 Business disclosures to get started
and IBS will have disclosures in the portal for reordering as needed. Private Banking Disclosures
will be printed on demand as our team does not typically handle those accounts.

4. The new terms and conditions will also be redisclosed in account statements in December
(without all the product pages). eStatement accounts will be delivered the redisclosure in their
eStatements.

5. As part of this change the CD Early Withdrawal Penalties are increasing as follows:
13 Month Special, 1 Year, and 1 Year IRA w/ Additional Deposits CDs move to 180-day penalty
3 year and 3 year IRA CD move to 365-day penalty

Time Deposit Accounts Overview and CD Penalties for Early Withdrawals Procedures on the S:
will be updated effective December 1st and linked to The Manual.

6. Electronic versions of the disclosure booklets will also be updated and linked to the New
Account Kits section of the manual. Email a copy to Clients signing new account packages via
OLE Never forget to disclose to your customer.

7. Business Accounts CK40 Commercial Checking & CK 17 Business Checking are charging mailed
statement fees. These are already included in the existing fee schedules and impact very few
client services accounts. However, Effective January 1 2024, Business Schedules of Fees are
changing and will be updated / linked to manual. WFB345/346 documents on the IBS portal
and the website will be updated as close to 1/1 as possible.

New Consumer, Business, & Private Banking Account Disclosures 1