Horizon Bank

 
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Deposit Accounts

Your checking and savings accounts will automatically be transferred to a new Horizon account on November 11, 2017. Certain features and benefits will not transfer. As a deposit account holder, we will send you a separate letter around November 1st that explains which new Horizon account we have selected for you. There will be no need for action on your part, unless of course you find another Horizon account that you believe better serves your needs. Visit horizonbank.com for an overview of our personal and business deposit accounts.  

Account Numbers: Your account numbers will remain the same.

Checks: The checks and deposit slips you currently have are still valid so keep using them. When it is time to reorder new checks you may order online or contact your local branch to receive new Horizon checks. 

Direct Deposits: The direct deposits you have established for your accounts will continue as is with no action needed on your part.

Automatic Transfers: If you have recurring transfers of funds between your Wolverine Bank deposit accounts, these will continue. If you have automatic payment drafts coming directly from your checking account, these will remain unchanged as your account number will not change and the routing number will automatically transfer to Horizon.

Statements: You will continue to receive your account statements as usual – most of them on the same date as your existing statement date. Your final statement from Wolverine Bank, detailing activity through November 10th, will be mailed to you shortly after that date. If you receive eStatements, your final statement will be sent to you as a paper statement via the mail. After November 13th, new eStatements will be available on Horizon’s Online Banking platform.

Overdraft Protection: If you currently protect your checking account from overdrafts, the way you protect your account now will continue to work. If you use automatic transfers from another account; this option will continue to work for you.

CDs and IRAs

The account numbers on your existing Certificates of Deposit and Individual Retirement Accounts will remain the same. In addition, the rates and terms on these accounts will be honored until they mature. Within 30 days prior to the maturity date of your account, you will receive a renewal notice that outlines the date your account is maturing, balance of your account at renewal, terms and conditions, including any penalties for early withdrawal.

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Frequently Asked Questions

Will my account numbers stay the same?

Yes, your account numbers will remain the same.

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Will the benefits and fees on my accounts change?

Your checking and savings accounts will automatically be transferred to a new Horizon account on November 11, 2017. Certain features and benefits will not transfer. As a deposit account holder, you will receive a separate letter around November 1, 2017, that will explain the details of your new Horizon deposit account.

There will be no need for action on your part unless of course, you find a Horizon account that you believe better serves your needs. If so, let us know and we’ll move you into that account, often without needing to change your existing account number.

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Will I have to order new checks?

No. The checks and deposit slips you currently have are still valid so keep using them. When it is time to reorder new checks simply order online or contact your local branch.

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Will I have to change the routing number on my direct deposits?

No. Your direct deposits will continue as is with no action required on your part.

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Will my account statements change?

The look of your statements will change; however, you will continue to receive your account statements at month end as usual. Your final statement from Wolverine Bank, detailing activity through November 10th, will be mailed shortly after that date. If you receive e-statements, your final statement will be sent to you as a paper statement via the mail. Beginning November 13th, new e-statements will be available on Horizon’s Online Banking platform.

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Will interest rates on my deposit accounts, CDs or IRAs change?

Interest rates on contractual agreements like certificates of deposit and IRAs will remain the same in accordance with the terms of the original agreements. Horizon monitors interest rates regularly to ensure all accounts earn and/or receive a competitive interest rate. Those deposit products with variable rate pricing would be subject to change dependent upon the current competitive interest rate environment.

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