Red Rock Bank Disclosures
Customer Complaint Policy
Red Rock Bank is focused on providing financial services via the Internet in compliance with all Federal and State regulatory policies including but not limited to consumer protection, fair lending and civil rights laws. The Principles and Values of Red Rock Bank include putting the customer first as well as consistently reflecting a focus on honesty, integrity and responsibility.
In the event a complaint needs to be filed with Red Rock Bank, the individual can:
Contact the Compliance Officer, James Kron, of Red Rock Bank at 507-648-3871.
Notify Red Rock Bank in writing at:
Red Rock Bank
PO Box 158
Sanborn, MN 56083
The complaint should be submitted in writing, if possible, and should include the following information:
A description of the act or practice that is thought to be unfair or deceptive, or in violation of existing law or regulation, including all relevant facts.
The name and address of the complainant.
Response to a complaint sent directly to Red Rock Bank will typically be provided to you in writing within 10 business days.
In the even a complaint is not resolved to your satisfaction you may contact our federal regulator, FDIC, for further review at FDIC Consumer Response Center, 12345 Grand Boulevard, Suite 100, Kansas City, MI 64108, toll free number 877-275-3342.
If there are any questions or comments, contact Red Rock Bank at 507-648-3871.
Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006
The UIGEA, signed into law of 2006, prohibits any person engaged in the business of betting or wagering (as defined in the Act) from knowingly accepting payments in connection with the participation of another person in unlawful internet gambling. The Dept of Treasury and the Federal Reserve Board have issued a joint final rule, Regulation GG, to implement this Act.
As defined in Regulation GG, unlawful Internet gambling means to “place, receive or otherwise knowingly transmit a bet or wager by any menas which involves the use, at least in part, of the internet where such bet or wager is unlawful under any applicable Federal or State law in the State or Tribal lands in which the bet or wager is initiated, received or otherwise made”.
As a customer of Red Rock Bank, these restricted transactions are prohibited from being processed through your account or banking relationship with us. If you do engage in an Internet gambling business and open a new account with us, we will ask that you provide evidence of your legal capacity to do so.
Please contact one of our Customer Service Reps if you would like additional information.
UCC ARTICLE 4A DISCLOSURE
Disclosure regarding Electronic “Wholesale Credit” transactions subject to Uniform Commercial Code 4A
PROVISIONAL PAYMENT DISCLOSURE: “Credit given by us to you with respect to an automated clearing house credit entry is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive such final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to you in connection with such entry, and the party making payment to you in connection with such entry (i.e., the originator of the entry) shall not be deemed to have paid you in the amount of such entry.”
NOTICE OF RECEIPT OF ENTRY: “Under the Operating Rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving your account, we are not required to give next day notice to you of receipt of an ACH item and we will not do so. However, we will continue to notify you of the receipt of payments in the periodic statements we provide to you.”
CHOICE OF LAW: “We may accept on your behalf, payments to your account which have been transmitted through one or more Automated Clearing Houses (ACH) and which are not subject to the Electronic Fund Transfer Act and your rights and obligations with respect to such payments shall be construed in accordance with and governed by the laws of the state of Minnesota as provided by the operating rules of the National Automated Clearing House Association, which are applicabale to ACH transactions involving your account.”
For questions, call or write:
Red Rock Bank
PO Box 158
Sanborn, MN 56083
CONFORMING LOAN PAYMENT NOTICE
All loan payments must be accompanied by the account number or payment notice provided. Loan payments must be sent to Red Rock Bank, PO Box 158, Sanborn MN 56083 or Red Rock Bank, PO Box 125, Springfield MN 56087. Loan payments may also be made in person to Red Rock Bank in Sanborn or Springfield. Our hours of operation for receiving payments are 9:00 am – 4:00 pm, Monday-Friday, except bank holidays and Saturday from 8:30-11:00 am in Springfield. All other payments received will be credited as of the next loan operations business day or as otherwise permitted by law.
Copyright Notice and Disclosures
Use of Information
Any person is hereby authorized to view the information available from this web site for informational purposes only. No part of the information on this site can be redistributed, copied, or reproduced without prior written consent of Red Rock Bank.
©2018 Red Rock Bank, All Rights Reserved
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All information in this site is protected by a compilation copyright in the United States of America based on U.S. Copyright Law (17 U.S.C. sec.101 et seq) and International Copyright Laws and may not be reproduced in whole or in part. Unless otherwise specified, no one has permission to copy or republish, in any form, any information found on this site.
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Disclaimer of Warranties
The information contained or accessed, and references to corporations, including their services and products, are provided “as is” without warranty of any kind, either express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose, non-infringement, or error-free or uninterrupted service.
Descriptions of, or references to, products, services or publications within Red Rock Bank’s web site does not imply endorsement of that product, service or publication. Red Rock Bank makes no warranty of any kind with respect to the subject matter included herein, the products listed herein, or the completeness or accuracy of the information. Red Rock Bank specifically disclaims all warranties, express, implied or otherwise, including without limitation, all warranties of merchantability and fitness for a particular purpose.
This publication could include technical inaccuracies or typographical errors. Changes may be periodically made to the information herein.
Facts, data, & other information presented on Red Rock Bank website pages are provided directly by Red Rock Bank.
Red Rock Bank, our employees, officers, directors and shareholders, as well as BankSITE®, are not responsible for typographical errors or errors of omission; and, we cannot guarantee that all information is accurate or complete.
Deposit information presented on the website of Red Rock Bank is in accordance with the Federal Reserves Truth in Savings Act (12CFR230). Interest rates displayed for deposit products are based on Annual Percentage Yield (APY) and may fluctuate at any time.
Loan information presented on the website of Red Rock Bank is in accordance with the Federal Reserve Truth in Lending Act (12CFR226). Interest rates displayed for loan products are based on an Annual Percentage Rate (APR) and may fluctuate at any time.
Home Equity Loan Rate Disclosures:
Fixed Rate Home Equity Loan – Rates and terms subject to change. Normal underwriting guidelines apply. Standard fees at borrower’s expense.
Home Equity Line of Credit – Monthly Payments and Interest Only – The fully indexed Annual Percentage Rate (APR) is Prime + 0%. [“Prime” means the prime rate as published in The Wall Street Journal. The current rate is shown in the table. The rate may increase or decrease and cannot exceed 18%. Appraisal or title insurance, if required, at borrower’s expense. Property insurance is required. Flood insurance may be required. Property must be owner-occupied. Normal underwriting guidelines apply. Non-owner occupied loans are available at 1% higher with maximum of 90% LTV.
Mortgage Loan Rate Disclosures:
15-Year and 20-Year Fixed Rate – Rates and terms subject to change. Normal underwriting guidelines apply. Borrower pays all closing costs.
30-Year Fixed Rate – Rates and terms subject to change. Normal underwriting guidelines apply. Borrower pays all closing costs.
Construction Loan – Rates and terms subject to change. Normal underwriting guidelines apply. Borrower pays all closing costs. Your interest rate cannot change, increase or decrease more than two percentage points at each adjustment.
Adjustable Rate Mortgage – Rates and terms subject to change. Normal underwriting guidelines apply. Borrower pays all closing costs. Your interest rate cannot change, increase or decrease more than two percentage points at each adjustment.