We are pleased to announce that North Akron Savings Bank has adopted check imaging.

With the creation of substitute checks you may be seeing fewer of the checks you write being returned to you. Beginning in July, we will send our customers copies of the checks that have cleared their accounts.

All cleared checks will be printed on letter size paper and are easier to read and store than the actual checks you were receiving. Imaged checkes are legal substsitutes for proof of payment or for any other reason that might required an original check. Other benefits include:

At North Akron Savings Bank we take pride in the personal attention that our staff shows to customers and are committed to giving you the kind of products and service you need and expect - on the spot!

What is Check 21?
A new federal law - the Check 21 Act - calls for some changes in the way your paid checks are handled. As a result, customers who receive canceled checks in their monthly checking account statements will notice some of the checks look different.

The changes brought on by Check 21 will improve check collection by automating many high-touch prodedures. The result should be faster, more efficient clearing and posting of check payments.

What does Check 21 do?
Check 21 creates a new legal document, called the "substitute check," which can be used for proof of payment or for any other reason that might require an original canceled check. Beginning October 28, 2004, at least some of the checks or check copies you receive from us may be substitute checks.

The substitute check will include an accurate copy of the front and back of the original check and contain the words: "This is a legal copy of your check. You can use it the same way you would use the original check."

What happens to my original check?
Typically, original checks are destroyed once the check is imaged. There are no requiremennts governing the retention of original checks. Substitute checks are legal substitutes for proof of payment.

What if I need a copy of my cancelled check?
No worries. Just contact us. We'll have a copy out to you quickly.

What if there's an error involving a substitute check?"
Check 21 requires that we provisionally recredit your account, usually within ten business days, for any substitute check you recieve and dispute. Please review your monthly checking account statements and contact us immediately if you suspect an error.

Should I change my account management practices?
Checks you write should clear sooner, raising the possibility that some checks will be returned NSF if there were non-sufficient funds in the account when you wrote the check. You should not write checks for amounts that can't be covered by funds already in your checking accounts.
*Ask us about overdraft protection.

What are my rights regarding substitute checks?
In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account (for example, if you think that we withdrew the wrong amount from your account). The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal, (for example, bounced check fees). The amount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You are entitled to interest on the amount of your refund if your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law. If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account.

How do I make a claim for a refund?
If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us. You must contact us within 40 calendar days of the date we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances.

Making a claim for an Expedited Refund
Your claim must include:
A description of why you have suffered a loss (for example, you think the amount withdrawn was incorrect);