What are the Terms and Conditions I agree to when using the Alerus website?


These Terms of Use (“Terms”) apply to all services and functions (“Services”) available within “My Alerus”, provided by Alerus Financial, National Association (“Alerus” or “We”) at alerus.com and/or alerusrb.com (individually and collectively, the “Site”). The Terms are in addition to all other agreements applicable to any other product or service provided by Alerus to you. These Terms should be read carefully as they exclude or limit our liability and set forth the terms and conditions that apply to your use of the Site. By using the Site, you agree to be bound by the Terms below. If, at any time, any of the Terms are not acceptable to you or if you do not agree to be bound by these Terms, please discontinue your use of the Site.

These Terms consist of the following eight sections:

1. General Terms and Conditions;

2. Dashboard and Financial Fitness;

3. Retirement Plan Account Information;

4. Retail Account Information;

5. Wealth Management Account Information;

6. Mortgage Account Information;

7. Health and Benefits Account Information; and

8. Privacy

NON-DEPOSIT INVESTMENT PRODUCTS, INSURANCE, AND SECURITIES ARE NOTDEPOSITS OR OBLIGATIONS OF, INSURED OR GUARANTEED BY ALERUS OR ANY BANK OR AFFILIATE, ARE NOT INSURED BY THE FDIC OR ANY AGENCY OF THE GOVERNMENT; AND INVOLVE INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF SOME OR THE ENTIRE PRINCIPAL AMOUNT INVESTED. ALERUS DOES NOT GIVE TAX OR LEAL ADVICE. CONSULT WITH YOUR TAX AND/OR LEGAL ADVISOR FOR INFORMATION SPECIFIC TO YOUR SITUATION.

1.GENERAL TERMS AND CONDITIONS

A.Security and Use of Your Password

Alerus is committed to protecting the security and confidentiality of all client account information. We use several different methods to ensure this security and protect your account information. With respect to accessing the Site, please know the following:

· You can only access the Site with certain browsers that are up-to-date, have a high security standard, and are compatible with and supported by your operating system.

. You must have a valid Username and password to sign in.

· If no action is taken for 60 minutes, you will automatically be logged off of the Site.

· Your account will be locked out after 5 invalid sign-on attempts.

· The password must meet specific length and content requirements.

We urge you to take measures to protect your account information. You will be given a Username and password that will give you initial access to your accounts through the Site. You will be required to customize your Username and password the first time you access the Site. To request a change to your password, you may call us at 833.325.3787.

You can use your Username along with your password to access the Services. You are responsible for all transactions and other activities that occur or are undertaken using your Username and password, including, without limitation, those transactions and activities taken by anyone using the Site after logging in with your Username and password. We have no responsibility for establishing the identity of any person or determining the validity of any activity received using your Username and password. You are responsible for keeping your Username and password confidential and for ensuring that you have logged out of the Site when your session is complete to prevent unauthorized persons from using the Site. You agree that you will be the only user of your Username and password, that you will not transfer or disclose any of this information to any other person, and that you will be responsible for all usage of any Services on the Site and any fees associated with the use of other services accessed through the Site whether or not authorized by you.

You are responsible for changing your password regularly. We are entitled to act on instructions received under your password. For your protection, we recommended that you memorize your Username and password; do not write them down. You are responsible for keeping your password and account information confidential.

You agree to immediately notify Alerus of any actual or suspected unauthorized use of your Username and password. You also agree to notify us immediately if you suspect that your Username or password is lost or stolen. Please contact us at 833.325.3787.

B.Hours of Operation

The Site is available 24 hours a day, seven days a week, except during special maintenance periods. Information provided will be as of the end of the prior business day. We cannot guarantee that Services will always be available as a result of occasional emergency situations or scheduled maintenance. We agree to post notice of any extended period of non-availability on the Site. Certain deadlines or cutoff times may be applicable to specific aspects of the Services.

C.Change in Terms

We may change these Terms at any time by adding new terms or by modifying or deleting existing ones. If we are required to notify you of a modification to these Terms, we will describe the modification and its effective date by a message within your account statement or any other appropriate means. The most current version of the Terms are always available to you on the Site. By continuing to use the Services after any change to these Terms, including accessing the Site, you agree to be bound by the then applicable Terms.

D.Termination of Services

You agree that we can terminate the Services, with or without cause, without prior notice.

E.Limit of Our Liability

Alerus will perform the Services using our best efforts. By using the Services, you agree that we are not responsible for errors, acts or failures of others, including, without limitation, banks, communications carriers, or clearinghouses through which We receive or transmit information, and no such entity shall be deemed our agent. We are also not responsible for any loss, liability or delay caused by fires, earthquakes, wars, civil disturbances, power surges or failures, acts of government, labor disputes, failures in communications networks, legal constraints or other events beyond our control.

IN NO EVENT WILL ALERUS OR ANY OF ITS OFFICERS, DIRECTORS, SHAREHOLDERS, PARENTS, SUBSIDIARIES, AFFILIATES, AGENTS, LICENSORS, OR THIRD PARTY SERVICE PROVIDERS BE LIABLE FOR ANY CONSEQUENTIAL (INCLUDING WITHOUT LIMITATION, LOSS OF DATA, FILES, PROFIT OR GOODWILL OR THE COSTS OF PROCUREMENT OF SUBSTITUTE GOODS OR SERVICE), INCIDENTAL, SPECIAL, PUNITIVE OR INDIRECT LOSS OR DAMAGE WHETHER OR NOT ANY CLAIM FOR SUCH DAMAGES IS BASED ON NEGLIGENCE, CONTRACT OR ANY OTHER THEORY, ARISING OUT OF OR IN CONNECTION WITH THESE TERMS, THE SERVICE, THE INABILITY TO USE THE SERVICE OR THOSE RESULTING FROM ANY MERCHANDISE OR SERVICES PURCHASED OR OBTAINED OR MESSAGES RECEIVED OR TRANSACTIONS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

F.Disclaimer

THE SERVICES ARE OFFERED ON AN "AS IS," "WHERE IS" AND "WHERE AVAILABLE" BASIS, WITH NO WARRANTY OF ANY KIND-WHETHER EXPRESS, IMPLIED OR STATUTORY, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF TITLE OR THE IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. THIS DOES NOT AFFECT THOSE WARRANTIES THAT ARE INCAPABLE OF EXCLUSION, RESTRICTION OR MODIFICATION UNDER THE LAWS APPLICABLE TO THESE TERMS.

YOU ACKNOWLEDGE THAT NEITHER ALERUS, ITS AFFILIATES NOR ANY OF THEIR RESPECTIVE EMPLOYEES, AGENTS, CONTRACTORS, THIRD PARTY CONTENT PROVIDERS OR LICENSORS WARRANT THAT THE SERVICE OR THE SITE WILL BE UNINTERRUPTED OR ERROR FREE; NOR DO THEY MAKE ANY WARRANTY AS TO THE RESULTS THAT MAY BE OBTAINED FROM USE OF THE SERVICES OR THE SITE , OR AS TO THE TIMELINESS, SEQUENCE, ACCURACY, RELIABILITY, COMPLETENESS OF CONTENT OR ANY INFORMATION, SERVICE, OR MERCHANDISE PROVIDED THROUGH THE SERVICES AND THE SITE. ALERUS DOES NOT ENDORSE PRODUCTS OR SERVICES APPEARING ON LINKED WEBSITE OR PURCHASED VIA LINKED WEBSITE. YOU AGREE THAT ALERUS IS NOT RESPONSIBLE FOR ANY LOSS, PROPERTY DAMAGE OR BODILY INJURY, WHETHER CAUSED BY ACCESS TO OR USE OF THE SERVICES OR THE SITE. TO THE MAXIMUM EXTENT PERMISSIBLE UNDER APPLICABLE LAW, ALERUS WILL NOT BE RESPONSIBLE TO YOU OR ANY THIRD PARTY CLAIMING THROUGH YOU FOR ANY DIRECT, INDIRECT, SPECIAL OR CONSEQUENTIAL, ECONOMIC OR OTHER DAMAGES ARISING IN ANY WAY OUT OF THE INSTALLATION OR USE OF THE SERVICES, THE SITE, ANY ONLINE SERVICE OR INTERNET BROWSER SOFTWARE, INCLUDING LIABILITY ASSOCIATED WITH ANY COMPUTER VIRUSES WHICH MAY INFECT YOUR COMPUTER SYSTEM.

G.Linked Sites

If you leave the Site to use the services of, or complete transactions with, an independent third party service provider, your use of the third party service provider's site and services (the "Linked Site") will be governed by the terms of use of the provider of the Linked Site. As used here, "Linked Sites" include, but are not limited to, co-branded websites - sites displaying an Alerus header but also including the name of the third party provider - and independent third party web sites reached through navigation from the Site or other Linked Sites.

The terms of use applicable to each Linked Site may be presented to you prior to completing a session or transaction on the Linked Site by means of a separate browser window or screen and/or at the bottom of each page of the Linked Site. In the event you choose to use the services available at a Linked Site, you agree to read and adhere to the policies any terms and conditions applicable to that site. In the event you are not presented with terms of use applicable to a Linked Site, these Terms shall govern your use of that site.

By accepting these Terms, you acknowledge and agree that the material, information, content, products and services offered or provided at the Linked Sites or by the Linked Site providers, including without limitation any and all promotions and advertising, are not supplied or controlled by Alerus.

While we do our best to work with reputable companies, Alerus makes no representations or warranties regarding the materials, information, content, products or services provided at the Linked Sites. In addition, any advice, opinions, or recommendations provided by the Linked Site providers are those of the providers and not of Alerus. Your participation in any Linked Site, including payment for and the delivery of goods or services, is based solely on an agreement between you and the Linked Site provider.

H.Indemnification

You agree to defend, indemnify and hold harmless Alerus, its affiliates and their respective directors, officers, employees and agents from and against all claims and expenses, including attorneys' fees, arising out of your use of the Services.

I.Dispute Resolution

At the request of either party, any dispute concerning the Services shall be decided by binding arbitration pursuant to the arbitration rules of the American Arbitration Association. The arbitration will be conducted in Grand Forks, North Dakota. Nothing herein shall preclude either of us from exercising any lawful right to self-help remedies including set-off, or obtain provisional or ancillary remedies such as injunctive relief.

J.Entire Agreement

These Terms, as amended from time to time, contains the entire understanding between you and us concerning the Services. If any provision of this Agreement is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect. There are no third party beneficiaries of this Agreement.

K.Governing Law

This Agreement and the Services are governed by the laws of the State of North Dakota and applicable federal law, without regard to any different state laws that may govern the Services available within the Site.

L.Copyrights/Trademarks/Restrictions on Use

The Services are owned and controlled by Alerus and are protected by U.S. copyright laws and international treaties. You are granted a non-transferable, revocable license to use the Services and the Site for your personal purposes only. You may not sell, rent, transfer, link to, reproduce or republish all or any portion of the Services or the website for any commercial or public purpose.

In addition, you may not transfer, assign or sublicense your right to use the Services or the website. Alerus and other parties own the trademarks, logos and service marks (individually and collectively, the “Marks”) shown on the Site and websites linked thereto. You are not authorized to use the Marks without express written permission from Alerus or such other parties that own the Marks.

M.Assignment

We may assign our interest in these Terms or delegate certain of our rights and responsibilities under these Terms to third parties. These Terms and your rights and obligations under these Terms are not assignable by you without our prior written consent.

N.Notification

Unless otherwise required by applicable law, in the event that we are required to provide a notice or other communication to you in writing, that notice or other communication may be sent to you electronically to your electronic mail address as reflected in our then current records.

2.DASHBOARD AND FINANCIAL FITNESS

A.Accounts

In addition to your accounts at Alerus, you have the ability to link your checking, savings, credit cards, and retirement accounts with other financial services companies to track balances, budgets, and investments in one place. When you link accounts, balances are updated automatically. This linking functionality is powered by Envestnet Yodlee (“Yodlee”) and use of this function is subject to a separate Yodlee Terms of Use. To link accounts through Yodlee, you will be asked to select the account and enter the required Username and password for access. You may also add an account manually to be included in your comprehensive view of accounts.

B.Financial Wellness

Envestnet Retirement Solutions, LLC (“ERS”) has developed a unique approach to individual financial assessment and guidance using software specifically designed for this purpose. You have the ability to access and use the software on the Site. The software uses algorithms (mathematical models) to analyze your current financial condition and generate suggested actions which may improve your desired financial outcomes. Each fitness goal is analyzed and scored individually, and the individual scores are then aggregated to provide an overall financial fitness score. The ERS Financial Fitness App Methodology & Disclosure Document is available through online access and the mobile app and includes further details regarding the algorithms used in the software.

If your plan utilizes the “Managed Account” option within the Retirement Planning portion of the software and/or you have opted into a managed account with ERS, you should consult ERS’ Form ADV Part 2A Brochure. Further information on ERS can be obtained in the ADV Part 2A Brochure. This brochure is available by contacting ERS or at the U.S. Securities and Exchange (“SEC”) website: https://adviserinfo.sec.gov/IADP/Default.aspx.

Each time you use the software or its output, it is your responsibility to verify the accuracy and appropriateness of the inputs, assumptions, and other information used in the analysis. Your results may vary with each use and over time due to updates to the software, changes in your personal situation, goals and priorities, or changes in assumptions. It is advisable that you return periodically (preferably at least monthly) to review and update your information that will be used for an updated analysis. The software is offered as general and educational information only, and is not intended to provide financial, legal, tax or investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

The probability of success for the retirement planning workout using the ERS software is determined by the percentage of successful trials resulting from 1,000 Monte Carlo simulations. The simulations use ERS forward-looking capital market assumptions for risk, return, and correlation of the asset classes allocated in the manner of the client’s current retirement plan investments. It is assumed the investment portfolio will be rebalanced back to the original allocation at the end of every calendar year. Successful trials are those that have at least a $1 investment balance in the year following the user’s life expectancy plus five years. At least 750 of the 1000 Monte Carlo trials must be successful for the associated income level to have a reasonable chance of success. The highest income level meeting these requirements is what the user’s current savings and investment plan can be reasonably expected to achieve. This value is then compared to the user’s desired income replacement level to determine the workout score. A 90% chance of success is considered a perfect score so any probability at or above this level receives full score. Probabilities below 90% are scored based on their proportion to 90%.

C.Track Your Money/Create a Budget

The Financial Wellness software includes a budgeting tool which enables the construction of a basic budget. You will be asked to either manually add or link through Yodlee all recurring monthly expenses and accounts used to pay them.

D.Goals

The Financial Wellness software allows you to establish savings goals for yourself and track progress towards meeting the goals. There are a set of predefined goals and you can also define your own goals. PLEASE NOTE: setting the target account does not mean that the account will be funded automatically. You will need to provide instructions to your financial institution to move the funds from the source account to the target account. You will also need to provide the financial institution with instructions to stop the fund flow.

E.Financial Calculators :

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

3.ACCESS TO RETIREMENT PLAN ACCOUNT INFORMATION

Retirement plan participants may access their account information via the Site. You may also use the Site to provide investment directions for your retirement account and take other actions permitted by the terms of your retirement plan and made available through the Site.

A.Responsible Use - Monitoring of your Statements, Account Information and Confirmation

You must review your quarterly account statements, account information, confirmations or other written (whether paper or electronic) information or notices (individually and collectively, “Account Information”) regarding your account. If you do not notify us in writing of a suspected error within 14 days of your receipt of Account Information, the Account Information will be deemed accurate.

B.Your Account and Investment Direction

In addition to being subject to these Terms, your account remains subject to the terms and conditions of your retirement plan and trust. Additionally, each account will be subject to the following:

· Alerus’ rules, procedures and policies applicable to each account and the Services;

· the rules and regulations of any funds transfer system used in connection with the account and the Services; and

You may access the Site to obtain balances, transaction history and other information regarding your account.

A transaction or investment direction completed through the Site before the cutoff time on a business day will generally be posted to your account the same day. Transactions completed after the cutoff time on a business day or on a day that is not a business day, will generally be posted on the next business day. The cutoff time is 3 p.m. (Central Time). Every day is a business day except Saturdays, Sundays, and New York Stock Exchange and other bank holidays. At certain times, the website may not be available due to system maintenance or circumstances beyond our control. During these times, you may access our Voice Response Unit (VRU) by calling 800.795.2697.

Alerus may deviate from its customary processing timeframes for, among other reasons, the following: the receipt of incomplete data from the plan sponsor; interruptions or delays affected by information or communication systems, exchange or market rulings; disruptions in orderly trading on any exchange or market caused by market volatility or trading volume; suspension of trading; computer failures; operational system failures, or other acts of god (individually and collectively, a “Processing Delay”). In the event of a Processing Delay, Alerus shall not be liable for loss of investment return, diminution of value or other claims, if it takes reasonable steps to act as soon as administratively feasible following its actual knowledge of the Processing Delay.

In addition, we are not obligated to honor, in whole or in part, your investment transaction or other instructions which:

· is not in accordance with any term or condition applicable to the relevant Service or account;

· we have reason to believe may not be authorized by you or any third person whose authorization we believe is necessary or involves funds or investments subject to a hold, dispute, restriction or legal process we believe prevents their withdrawal or transfer;

· would violate any applicable rule or regulation of any other federal or state regulatory authority;

· is not in accordance with any other requirement of our applicable policies, procedures or practices; or we have reasonable cause not to honor for our or your protection.

You may only provide investment direction for your account as specifically outlined on the website. Unless you are explicitly directed in writing (via paper or electronic communication) by an Alerus client service representative, you may not provide investment direction to us via email, voice mail, chat room discussion, instant messaging or other electronic device.

C.No Investment or Legal Advice

Neither Alerus, its employees, agents, subcontractors nor any related third party may offer you legal, tax, accounting or investment advice. Investment planning tools, mutual fund information, articles or other information provided to you via the website or in any other format (whether paper or electronic) is solely intended to be general educational material. You are responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based upon your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific tax, investment or other circumstances.

D.Downloading to Personal Financial Management Software

Download services for your Account may allow you to download certain information into Quicken®, QuickBooks®, Microsoft ® Money, Microsoft® Office Accounting, and other software we may identify from time to time on the Site, that you have installed on your computer (“PFMS”). You are responsible for obtaining a valid and separate license agreement with the provider of the PFMS. Alerus assumes no liability for the PFMS, the security of the PFMS system, the security of your information contained therein, or the security of transmission or downloading your account information to the PFMS. In addition, we are not liable for any loss, damages or expenses of any kind as a result of your reliance upon your PFMS.

E.TPS

From time to time, transaction process system tools and products (collectively "TPS") may be available on the Site. If you elect to install TPS on your computer, you are responsible for obtaining a valid and separate license agreement with the provider. You assume all risk of loss associated with any TPS you download and install and any information you enter into the TPS including but not limited to access by unauthorized third parties, damage to your computer (or other electronic device) or any loss or corruption of data that might occur. In addition, you agree that if you use the TPS to transmit information, you (and the TPS provider) are responsible for the security and confidentiality of that information. You assume the risk associated with TPS and are solely responsible for any damage that might occur to your computer (or other electronic device) or any loss or corruption of data that might occur. Alerus assumes no liability regarding the content, reliability, accuracy or any other aspect of TPS.

F.Privacy

Although Alerus does not generally disclose client information to unrelated parties, in order to facilitate your access to the Services offered by the third party service providers on the Linked Sites, Alerus may automatically transfer certain information to the providers hosting the Linked Sites when you access a Linked Site. By accepting these Terms, you agree that Alerus may release such information to the Linked Site providers and you release Alerus from any and all liability for transferring and disclosing your information to the Linked Site providers.

4.RETAIL ACCOUNT INFORMATION

A.Online Banking

i.Account Access

You may access your eligible accounts online. You may access your online accounts 24 hours a day, seven (7) days a week. However, availability of the Services may be suspended for brief periods of time for purposes of maintenance, updating and revising the software, and for reasons beyond our control.

ii.Transfer of Funds

You may use Online Banking to conduct the transfer of funds. You may make one-time transfers or schedule future or recurring transfers such as transfers to make loan payments. You may transfer funds among your Checking accounts, Savings accounts and Money Market Savings accounts.

You may also use Online Banking to electronically transfer funds between Alerus transaction accounts and transaction accounts at other financial institutions. Funds may be transferred as a one-time event or on a recurring basis. Verification that you have ownership in the transaction account at the other financial institution will be required before you are able to transfer funds to an external account.

NOTE: Because regulations require the Bank to limit preauthorized transfers (including Online Banking transfers), the following limitation applies: Transfers from a Savings or Money Market Savings account to another account or to third parties by pre-authorized, automatic, Online Banking transfer, or telephone transfer are limited to six (6) per statement cycle. This includes checks, drafts, and ATM & Check Card transactions.

iii.Additional Services

You may use Online Banking to place stop payment requests, access electronic statements and set up account and transaction alerts. We provide you with the ability to use the Bill Payment Service to pay bills through a third party service provider; you will be required to accept a separate agreement for this service. New services may be introduced for Online Banking from time to time. The Bank will notify you of the existence of these new services. By using these services when they become available, you agree to be bound by the rules that will be made available to you concerning these services.

B.Mobile Banking

You may access your Online Account through a mobile device, using our Mobile App, or Text Banking. You are able to remotely deposit paper checks into an eligible account at Alerus using the Mobile App. We will process the electronic deposit just as we would a paper check.

i.Touch ID/Facial Management

Touch ID and Facial Management allow you to use your fingerprint or your mobile phone’s facial recognition technology to log into the Mobile App securely instead of entering your Username and Password. Your Username and Password will not be stored on your device. By enabling Touch ID/Facial Management, every person with an enrolled fingerprint or facial recognition on your device will have access to your account. Review the enrolled fingerprints and facial recognition to make sure that each person is authorized to access the personal and financial information available in the Mobile App. Fingerprints and facial recognition are only stored on your device. Alerus does not see or store your fingerprint or facial information.

C.Electronic Funds Transfer

Our disclosure - made in compliance with federal law regulating electronic funds transfer (EFT) services - is set forth at the end of these Terms.

5.WEALTH MANAGEMENT ACCOUNT INFORMATION

A.Account Access

Your investment accounts with Alerus will be automatically included with your accounts, including the associated balances. You may access additional information regarding your investments held at Alerus on the Site. Additional details regarding your investment accounts held at Infinex Investments, Inc. (“Infinex”) are available via a link on the Site that will connect you to a Linked Site hosted and owned by Infinex.

B.Infinex

Investment products and services are offered by Alerus through Infinex, Member FINRA, Member SIPC. Alerus Securities is a trade name of Alerus. Infinex and Alerus are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.

6.MORTGAGE ACCOUNT INFORMATION

A.Account Access

Your mortgage account balances will be included with your loan accounts, including any loans that are serviced by a third party, Dovenmuehle Mortgage, Inc. (DMI), on behalf of Alerus. Additional account information for any mortgage loan that is serviced by DMI is available via a link on the Site that will connect you to a Linked Site hosted and owned by Dovenmuehle Mortgage, Inc. (DMI).

B.DMI

Alerus Mortgage is a trade name of Alerus. DMI and Alerus are not affiliated.

7.HEALTH & BENEFITS ACCOUNT INFORMATION

A.Account Access

Your health and benefits accounts with Alerus will be automatically included with your accounts, including the associated balances. You may access your health and benefits services provided by Alerus via a link on the Site that will connect you to a Linked Site hosted and owned by Wex Inc. a/k/a Wex Health (Wex).

B.Wex

Wex and Alerus are not affiliated.

8.PRIVACY

A.Information that We Collect

Alerus may use certain information about your activities when you interact with us online or visit our Sites, such as pages visited and search keywords entered to help determine which of our advertisements or offers may be of interest to you. We may also collect technical information concerning your device, browser type, IP address, or the presence of any software necessary to view the Site, as well as information about the device you use to access secure pages. This is done to help us analyze our site and enhance your overall experience, to alert you of any possible software compatibility issues as well as helping us to make decisions about how various technologies are used. We may use the personal information to send you marketing communications, present personalized offers, ads, or content that we believe may be of interest to you, for business purposes, including data analysis, audits, developing and improving products and services, enhancing the site, identifying usage trends and determining the effectiveness of our promotional campaigns. We may use information about you or your activities on the Site to comply with the law and to protect our rights and the rights of others. In addition to the description above and below, Alerus collects and uses information as described in our “General Privacy Policy.” Information collected through the Site may include information you submit by filling out a form including your name and contact information, as well as information collected automatically through the use of “cookies.”

Alerus and its vendors who assist us in operating our business may engage various technologies to collect information, including, without limitation, the following:

· Cookies: Cookies are pieces of information stored directly on your device. Cookies provide information that is used for security purposes, to facilitate navigation, to display information more effectively and to personalize/customize your online experience. You can choose to block these cookies as most devices and browsers offer their own privacy settings. Doing so, however, may result in diminished performance on our site.

· Online advertising: The use of cookies, pixel tags, web beacons, clear GIFs, or other similar technologies allows our third-party vendors to deliver advertisements about our products and services when you visit the Site or other web sites or web properties across the Internet. These vendors may place pixel tags, web beacons, clear GIFs, or similar technologies on the Site and other websites or web properties, and also place or recognize third-party cookies when you visit the Site or other sites or web properties. They may use information about your visits to the Site and other web sites or web properties to provide advertisements about goods and services that may be of interest to you.

· IP Address: Your IP Address is a number that is automatically assigned to your device by your Internet Service Provider (ISP). An IP Address is identified and logged automatically whenever a user visits the site, along with the time of the visit and the page(s) that were visited. This information is used to calculate usage levels, diagnose server problems and for compliance, security and administration purposes.

B.Behavioral Advertising Opt Out.

Some tools permit personalization of content viewed by you (for example, Google has tools that aim to deliver to you advertisements that reflect your interests or past browsing history). We may, now or in the future, make use of some of these tools. If you do not wish to participate in history/behavioral tracking to provide tailored content and advertising you may opt-out by visiting:

Google’s Ads Settings: https://adssettings.google.com/u/0/authenticated

DoubleClick: http://optout.aboutads.info/?c=2&lang=EN

NAI opt-out: http://optout.networkadvertising.org/?c=1#!%2F

C.Affiliates and Successors.

We may share any and all information collected through the Site to our current and future affiliates and to any successor entity in the event of a merger, sale of the business, sale of assets, change of control, or similar transaction.

D.“Do Not Track” Disclosure.

Certain web browsers and/or computers include a “Do Not Track” setting. Alerus does not search for or respond to such Do Not Track signals and settings.

E.Miscellaneous

You agree not to provide Alerus with personal health care information on the Site, unless asked for such information by Alerus. The Site is not intended for residents of countries other than the United States.

F.Email Communications

We use email as an important communication channel with our clients. You may be asked from time to time to indicate whether you would like to receive email communications from us. Unless you opt out from such electronic communications, we may send you emails regarding new products/services or other special offers.

G.Text Messages, Calls and/or Emails to You.

You will need to register your mobile device before we are able to send you text messages for the Services that use text messaging. By providing us with a cellular phone number, you consent to receiving text messages and calls from us and our service providers at that number including those made by use of an automatic telephone dialing system (“ATDS”). You acknowledge and agree that such telephone calls include, but are not limited to, live telephone calls, prerecorded or artificial voice message calls, text messages, and calls made by an ATDS from us or our affiliates and agents. Messages and data rates may apply and you are responsible for any such charges.

Electronic Fund Transfers Your Rights and Responsibilities

Types of Electronic Fund Transfers

Indicated below are types of Electronic Fund Transfers we are capable of handling, some of which may not apply to your account. Please read this disclosure carefully because it describes your rights and obligations for the transactions listed. You should keep this notice for future reference.

Electronic Fund Transfers Initiated By Third Parties. You may authorize a third party to initiate electronic fund transfers between your account and the third party’s account. These transfers to make or receive payment may be one-time occurrences or may recur as directed by you. These transfers may use the Automated Clearing House (ACH) or other payments network. Your authorization to the third party to make these transfers can occur in a number of ways. For example, your authorization to convert a check to an electronic fund transfer or to electronically pay a returned check charge can occur when a merchant provides you with notice and you go forward with the transaction (typically, at the point of purchase, a merchant will post a sign and print the notice on a receipt). In all cases, these third party transfers will require you to provide the third party with your account number and bank information. This information can be found on your check as well as on a deposit or withdrawal slip. Thus, you should only provide your bank and account information (whether over the phone, the Internet, or via some other method) to trusted third parties whom you have authorized to initiate these electronic fund

transfers. Examples of these transfers include, but are not limited to:

Please also see Limitations on frequency of transfers section regarding limitations that apply to savings accounts.

Electronic Solutions - types of transfers - You may access your account(s) 24-hours a day via telephone access, via mobile banking, and via online banking (computer transfers) to:

· transfer funds between checking and savings

· transfer funds from line of credit to checking or savings

· make payments from checking or savings to loan accounts with us

· make payments from checking or savings to third parties (bill payment)

o the account balance of checking or savings accounts

o recent deposits to checking or savings accounts

o recent withdrawals from checking or savings accounts

Please also see Limitations on frequency of transfers section regarding limitations that apply to telephone or computer transfers.

ATM Transfers - types of transfers and dollar limitations - You may access your account(s) by ATM using your Debit Card and personal identification number to:

· make deposits to checking or savings account(s) with a debit card

· get cash withdrawals from checking or savings account(s) with a debit card

o you may withdraw no more than $505.00 per day. Limits can change with Bank approval.

· transfer funds from savings to checking account(s) with a debit card

· transfer funds from checking to savings account(s) with a debit card

o the account balance of your checking or savings account(s) with a debit card

Some of these services may not be available at all terminals.

Please also see Limitations on frequency of transfers section regarding limitations that apply to ATM transfers.

Types of Debit Card Point-of-Sale Transactions - You may access your checking account(s) to purchase goods (in person, online, by phone or by mobile wallet), pay for services (in person, online, by phone or mobile wallet), get cash from a merchant, if the merchant permits, or from a participating financial institution, and do anything that a participating merchant will accept.

Point-of-Sale Transactions - dollar and frequency limitations - Using your card:

- you may not exceed $2,500.00 in signature or PIN-based transactions per day. Limits can change with Bank approval. For security reasons, there are limits on the number of transactions you can make using your debit card.

Please also see Limitations on frequency of transfers section regarding limitations that apply to debit card transactions.

Currency Conversion and International Transactions. When you use your Debit Card at a merchant that settles in currency other than US dollars, the charge will be converted into the US dollar amount. The currency conversion rate used to determine the transaction amount in US dollars is either a rate selected by Visa from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate Visa itself receives, or the government-mandated rate in effect for the applicable central processing date. The conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or posting date. Visa USA charges us a 1% International Service Assessment on all international transactions regardless of whether there is a currency conversion. We pass this international transaction fee on to you. An international transaction is a transaction where the country of the merchant is outside the USA.

Advisory Against Illegal Use. You agree not to use your card(s) for illegal gambling or other illegal purpose. Display of a payment card logo by, for example, an online merchant does not necessarily mean that transactions are lawful in all jurisdictions in which the cardholder may be located.

Non-Visa Debit Transaction Processing. We have enabled non-Visa debit transaction processing. This means you may use your Debit Card on a PIN-Debit Network* (a non-Visa network) without using a PIN.

The provisions of your agreement with us relating only to Visa transactions are not applicable to non-Visa transactions. For example, the additional limits on liability (sometimes referred to as Visa's zero-liability program) and the streamlined error resolution procedures offered on Visa debit card transactions are not applicable to transactions processed on a PIN-Debit Network.

*Visa Rules generally define PIN-Debit Network as a non-Visa debit network that typically authenticates transactions by use of a personal identification number (PIN) but that is not generally known for having a card program.

Limitations on frequency of transfers. In addition to those limitations on transfers elsewhere described, if any, the following limitations apply:

· Transfers from a savings account to another account or to third parties by preauthorized, automatic, telephone or computer transfer are limited to six per month with no transfers by check, debit card or similar order to third parties.

· Transfers from a money market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or by check, draft, debit card or similar order to third parties are limited to six per month.

In Minnesota, Termination -

· You may terminate the electronic fund transfer agreement by providing seven days’ advance written notice to us.

· We may terminate the electronic fund transfer agreement by providing written notice to you.

Fees

· We do not charge for direct deposits to any type of account.

· We do not charge for preauthorized payments from any type of account.

· Please refer to our separate schedule of services and fees for additional information about fees.

Except as indicated elsewhere, we do not charge for these electronic fund transfers.

ATM Operator/Network Fees. When you use an ATM not owned by us, you may be charged a fee by the ATM operator or any network used (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer).

Documentation

· You will get a monthly account statement from us for your checking accounts.

· You will get a monthly account statement from us for your savings accounts, unless there are no transfers in a particular month. In any case, you will get a statement at least quarterly.

Preauthorized Payments

Call or write us at the telephone number or address listed in this disclosure in time for us to receive your request 3 business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call.

Please refer to our separate schedule of services and fees for the amount we will charge you for each stop-payment order you give.

Financial Institution's Liability

Liability for failure to make transfers. If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

1. If, through no fault of ours, you do not have enough money in your account to make the transfer.

2. If you have an overdraft line and the transfer would go over the credit limit.

3. If the automated teller machine where you are making the transfer does not have enough cash.

4. If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.

5. If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.

6. There may be other exceptions stated in our agreement with you.

Confidentiality

We will disclose information to third parties about your account or the transfers you make:

1. where it is necessary for completing transfers; or

2. in order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; or

3. in order to comply with government agency or court orders; or

4. if you give us written permission.

Unauthorized Transfers (in Arizona and North Dakota)

(a) Consumer liability.

• Generally. Tell us AT ONCE if you believe your card and/or code has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission using information from your check. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum overdraft line of credit). If you tell us within 2 business days after you learn of the loss or theft of your card and/or code, you can lose no more than $50 if someone used your card and/or code without your permission.

If you do NOT tell us within 2 business days after you learn of the loss or theft of your card and/or code, and we can prove we could have stopped someone from using your card and/or code without your permission if you had told us, you could lose as much as $500.

Also, if your statement shows transfers that you did not make, including those made by card, code or other means, 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 a hospital stay) kept you from telling us, we will extend the time periods.

Additional Limit on Liability for Debit Card. Unless you have been negligent or have engaged in fraud, you will not be liable for any unauthorized transactions using your lost or stolen Debit Card. This additional limit on liability does not apply to ATM transactions outside of the U.S., to ATM transactions not sent over Visa or Plus networks, or to transactions using your Personal Identification Number which are not processed by VISA®. Visa is a registered trademark of Visa International Service Association.

(b) Contact in event of unauthorized transfer. If you believe your card and/or code has been lost or stolen, call or write us at the telephone number or address listed in this disclosure. You should also call the number or write to the address listed in this disclosure if you believe a transfer has been made using the information from your check without your permission.

Unauthorized Transfers (in Minnesota)

(a) Consumer liability.

Generally. Tell us AT ONCE if you believe your card and/or code has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission using information from your check. Telephoning is the best way of keeping your possible losses down. You could lose all of the money in your account (plus your maximum overdraft line of credit). We will be liable for all unauthorized transfers unless the unauthorized transfer was due to the loss or theft of your card and/or code. If due to the loss or theft of your card and/or code, and you notify us within 60 days of when the unauthorized transfer appears on the statement you can lose no more than $50 if someone used your card and/or code without permission.

If you do NOT notify us within 60 days after the unauthorized transfer appears on your statement, and we prove that we could have stopped someone from using your card and/or code without your permission if you had told us within 2 days of when you discover the loss or theft of your card and/or code, you could lose as much as $500 for unauthorized transfers that appear on the statement.

Also, if your statement shows transfers that you did not make, including those made by card, code or other means, 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 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 a hospital stay) kept you from telling us, we will extend the time periods.

Additional Limit on Liability for Debit Card. Unless you have been negligent or have engaged in fraud, you will not be liable for any unauthorized transactions using your lost or stolen Debit Card. This additional limit on liability does not apply to ATM transactions outside of the U.S., to ATM transactions not sent over Visa or Plus networks, or to transactions using your Personal Identification Number which are not processed by VISA®. Visa is a registered trademark of Visa International Service Association.

(b) Contact in event of unauthorized transfer. If you believe your card and/or code has been lost or stolen, call or write us at the telephone number or address listed in this disclosure. You should also call the number or write to the address listed in this disclosure if you believe a transfer has been made using the information from your check without your permission.

(c) Right to Bring Civil Action. You may bring a civil action against any person violating any provision of Minnesota Statutes § 47.69 (governing consumer privacy and unauthorized withdrawals).

If you prevail in such an action, you may recover the greater of your actual damages or $500. You may also be entitled to recover punitive damages, your court costs and reasonable attorney’s fees.

Time Needed to Complete Terminal Transactions

· Withdrawals made at a terminal will normally be completed and charged to your account immediately.

· Deposits made at a terminal will normally be credited to your account by the end of the business day on which the deposit was made if at an Alerus ATM, and within five business days if the deposit was made at a non-proprietary ATM.

· Transfers between accounts will normally be completed immediately.

· Payments made at a terminal will normally be completed immediately.

Point-of-Sale Transactions

Payment for goods or services made in this manner shall not affect any of the rights, protections, or liabilities in existing law concerning a cash or credit sale made by means other than through the use of a terminal.

You cannot reverse a point-of-sale transaction.

Error Resolution Notice

In Case of Errors or Questions About Your Electronic Transfers, Call or Write us at the telephone number or address listed in this disclosure, as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.

1. Tell us your name and account number (if any).

2. 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.

3. 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 10 business days.

We will determine whether an error occurred within 10 business days (5 business days for Debit Card point-of-sale transactions processed by Visa and 20 business days if the transfer involved a new account) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days (90 days if the transfer involved a new account, a point-of-sale transaction, or a foreign-initiated transfer) to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days (5 business days for Debit Card point-of-sale transactions processed

by Visa and 20 business days if the transfer involved a new account) 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 10 business days, we may not credit your account. Your account is considered a new account for the first 30 days after the first deposit is made, unless each of you already has an established account with us before this account is opened.

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.

ALERUS FINANCIAL

CLIENT SERVICE CENTER

P.O. BOX 6001

GRAND FORKS, ND 58206-6001

Business Days: Monday through Friday

Excluding Federal Holidays

Phone: 1.800.279.3200 Ext. 2662 or 701.795.2662

To report a lost or stolen card after bank hours,

please call 1.800.554.8969



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