Community Reinvestment Act (cra)

Products and Services

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  Public Funds Checking
  
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  Interest on Lawyers Trust Accounts (IOLTA) Checking
  
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  Commercial Money Market
  
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  Business Platinum Savings
  
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  Certificates of Deposit (CDs)
  
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  Business ACH Origination
  
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  Business Online Wires
  
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  Business Deposit Capture
  
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  Business Currency/Coin Processing
  
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  Sweep Processing
  
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  Merchant Services
  
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  Courier Services
  

Fresh Start Checking was implemented in 2009 and designed to serve the needs of un-banked and under-banked individuals who have limited options due to poor checking history. With this account, the customer is only offered an ATM card. Overdraft Protection can be setup to access Savings or an Unsecured Line of Credit; if funds aren’t available for transfer, the transaction will be denied and a fee charged. In addition, the account has a monthly maintenance fee. After a six month period, the customer may apply for a manager’s approval to use a Debit Card. Once the account has been in good standing for one year, a customer may apply for a manager’s approval to convert to a regular checking account.

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  Vacation and Christmas Savings accounts assist customers with ensuring a desired amount is available for larger expenses in the Summer (April 1st) and Fall (November 15th). A checking account is required to open these accounts and the customer must setup periodic automatic transfers from checking or direct deposit.
  
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  Student Savings Accounts limits the customer to five free over-the-counter withdrawals per year. Additional withdrawals are subject to a minimal fee. This incents the customer to limit their use of funds for supplies each semester.
  
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  First Step Certificates of Deposit supports a customer’s efforts to build a larger savings by requiring automatic deposits, paying higher interest, and applying a penalty for early withdrawals. A $250 minimum deposit and periodic automatic deposits are required to be setup at account opening.
  
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  The Bank offers a Primetime Club (for seniors >=50) and a Seaboard Sam Club (for children <=12) to encourage financial responsibility, offer account benefits, and host social events.
  

Small Dollar Loans makes an exception to allow underwriting for a lower principal amount (Maximum $1,500). This provides lower cost alternatives to borrowers who might otherwise choose less favorable options from non-bank lenders.

Safe Harbor Checking accounts pay interest and allow unlimited transactions. A minimum balance is required to avoid a monthly maintenance fee. In addition, the Bank partners with Card Assets for credit card applications. Their program offers a credit card for non-profit organizations at a lower interest rate.

SBA Lending targets start-up businesses and businesses with less than or equal to $1M in gross annual revenue. Applicants must meet government eligibility and guarantee requirements to qualify for loans in the SBA 7(a), SBA 504, and other Government Loan Programs.

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  FHA Mortgage Loans are offered to allow flexible lending standards. These loans are issued by federally qualified lenders and insured by the Federal Housing Administration (FHA).
  
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  USDA loans provide the benefits of competitive 30-year fixed interest rates, and flexible credit guidelines. These loans are issued by qualified lenders and guaranteed by the United States Department of Agriculture Rural Development Office.
  
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  VA Mortgage Loans provide veterans with advantages of purchasing a home, for a value that meets VA loan limits, with no down payment. The VA also limits closing costs for veterans and allows sellers to pay most or all of those expenses. These loans are issued by approved lenders and guaranteed by the U.S. Department of Veterans Affairs (VA).
  
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  The Bank partners with FHLB of Atlanta to take advantage of the Affordable Housing Program (AFP) Set-Aside Products. The FHLB sets aside 10% of their annual net income for advances that offer reduced rate funding; which provides critical support for affordable housing and local economic development.
  
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  The Bank partners with FHLB of Atlanta and Florida Housing Finance Corporation to participate in the Housing Floridians Program. This program provides exclusive access to $11,250-$22,500 per household in grant funding for eligible homebuyers.
  
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  The Bank developed a WealthBuilder Mortgage Loan that was offered from September 2015 to October 2016. This product was supported by the American Enterprise Institute to address Housing Affordability and Default Risk Management for first time homebuyers. It allowed a 100% loan purchase and used savings to buy down the interest rate.
  

	ACB maintains a Web site at www.atlanticcoastbank.net. The site provides bank information (e.g., product and service descriptions, employment opportunities, bank news, bank history, investor information) and interactive links (e.g., online banking login, contact request, secure file transfer, make loan payments, loan payment calculator, etc.). At no charge, the Bank’s online banking service (NETeller) provides 24-hour access to account balances, printable transaction histories, comma-separated value transaction exports, images of cleared checks, fund transfers, bill payment services, and a message feature. For an additional charge, commercial customers may be approved to utilize one or more of the following Treasury Management services: Business Deposit Capture, Business ACH Origination, and Business Online Wires.
	The following telephone banking services are available at 1-800-342-2824: The Customer Care Call Center is staffed Monday through Friday from 8:30 am to 5:00 pm. This service allows deposit account opening, consumer loan applications, limited transactions, and customer service. PrivateLine is the Bank’s automated phone system and is available 24-hours a day at no charge. This service provides an account history and allows customers to report lost/stolen Debit or ATM cards, place stop payments, and transfer funds between their accounts at the Bank.
	With their Debit and/or ATM Cards, ACB customers may use ATMs anywhere (with applicable fees) to check balances, withdraw funds, and perform funds transfers. ATMs at our branch locations are provided to ACB customers at no charge and accepts deposits. In addition, the Bank partners with Presto! to provide free ATM access at more than 900 ATMs at Publix Super Markets. With their Debit Card, ACB customers can make purchases wherever VISA is accepted using available funds in their account.
	A variety of check products are available to provide access to funds. Upon request, a set of starter checks is provided at account opening. Checkbook orders may be placed through the Bank or a retailer of the customer’s choosing. Temporary checks and Official Checks are available to customers through ACB’s customer service channels.
	Electronic funds transfer (EFT) services are available at ACB. Customers may automatically set up payroll through direct deposit. They may automate bill payments with ACH. Wire transfer services are available, at a cost.
	Mobile Banking is available via Apple, Android, and Windows applications. This service provides 24-hour access to account balances, transaction histories, fund transfers, PayPal requests, remote check deposit, check images of those deposits, and a message feature.