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Legal Notices
CRA Statement
HMDA Notice
Home Loan Difficulties Notice
ECOA Notice
FDIC Deposit Insurance
Fair Lending Notice
Funds Availability
USA Patriot Act
CRA Statement
Under the Federal Community Reinvestment Act (CRA), the Federal Reserve Board (Board) evaluates our record of helping to meet the credit needs of this community consistent with safe and sound operations. The Board also takes this record into account when deciding on certain applications submitted by us.
Your involvement is encouraged.
You are entitled to certain information about our operations and our performance under the CRA, including, for example, information about our branches, such as their location and services provided at them; the public section of our most recent CRA Performance Evaluation, prepared by the Federal Reserve Bank of San Francisco (Reserve Bank); and comments received from the public relating to our performance in helping to meet community credit needs, as well as our responses to those comments.
At least 30 days before the beginning of each quarter, the Federal Reserve System publishes a list of banks that are scheduled for CRA examinations in that quarter. This list is available from the Officer in Charge of Supervision, Federal Reserve Bank of San Francisco, P.O. Box 7702, San Francisco, California 94120. You may send written comments about our performance in helping to meet community credit needs to Jane Trapp, Mission Community Bank, 3380 South Higuera Street, San Luis Obispo, CA 93401 and Officer in Charge of Supervision, Federal Reserve Bank of San Francisco, P.O. Box 7702, San Francisco, California 94120. Your letter, together with any response by us, will be considered by the Federal Reserve System in evaluating our CRA performance and may be made public.
You may ask to look at any comments received by the Reserve Bank. You may also request from the Reserve Bank an announcement of our applications covered by the CRA filed with the Reserve Bank. We are an affiliate of Mission Community Bancorp, a bank holding company. You may request from Manager, Analytic Support Unit, Federal Reserve Bank of San Francisco, P.O. Box 7702, San Francisco, California 94120, and announcement of application covered by CRA filed by bank holding companies.
Home Mortgage Disclosure Act (HMDA) Notice
The HMDA data about our residential mortgage lending are available for review. The data show geographic distribution of loans and applications; ethnicity, race, gender and income of applicants and borrowers; and information about loan approvals and denials.
Inquire at any Mission Community Bank office regarding the locations where HMDA data may be inspected.
Having financial difficulty? Wish to avoid foreclosure?
If you cannot afford your monthly mortgage payments and wish to avoid foreclosure, you may be eligible for a loan “workout” or modification. We determine eligibility for loan "workouts" on a case by case basis. Among other things, we will consider the value of your property and your ability (based on your current income) to make monthly mortgage payments in accordance with the "workout." You may also qualify to refinance your current loan with us.
If you are interested in exploring any of the options listed above, please CALL US TODAY at (877) 444-0114.
You will need to provide us with certain financial information, including the following:
- Your most recent paycheck stub or financial statement if self employed
- Your current monthly expenses
- Your most recent tax return
- Your most recent bank statements
If you would like to discuss your options to avoiding foreclosure with us, please call (877) 444-0114 and ask to speak with a loan officer.
You may also contact the Department of Housing and Urban Development (HUD) to find a HUD certified housing counseling agency by calling HUD TOLL FREE at (800) 569-4287. Additional information is made available by HUD on its website at www.hud.gov.
Equal Credit Opportunity Act (ECOA) Notice
We do business in accordance with Federal Fair Lending Laws.
Under the Federal Fair Housing Act, it is illegal, on the basis of race, color, national origin, religion, sex, handicap, or familial status (having children under the age of 18), to:
- Deny a loan for the purpose of purchasing, constructing, improving, repairing or maintaining a dwelling, or deny any loan secured by a dwelling; or
- Discriminate in fixing the amount, interest rate, duration, application procedures or other terms or conditions of such a loan, or in appraising property.
If you believe you have been discriminated against, you should send a complaint to:
Assistant Secretary for Fair Housing and Equal Opportunity
Department of Housing & Urban Development
Washington, DC 20410
(For processing under the Federal Fair Housing Act)
And to:
Federal Reserve Consumer Help
P.O. Box 1200
Minneapolis, MN 55480
(For processing under FDIC regulations)
Under the Equal Credit Opportunity Act, it is illegal to discriminate in any credit transaction:
- On the basis of race, color, national origin, religion, sex, marital status, or age (providing the applicant has the legal capacity to enter into a binding contract);
- Because income is from public assistance; or
- Because a right was exercised under the Consumer Credit Protection Act.
If you believe you have been discriminated against, you may send a complaint to:
Federal Reserve Consumer Help
P.O. Box 1200
Minneapolis, MN 55480
FDIC Deposit Insurance Coverage Increase
Notice of Changes in Temporary FDIC Insurance Coverage for Transaction Accounts: All funds in a “noninterest-bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC’s general deposit insurance rules.
The term “noninterest-bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts (“IOLTAs”). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, and money-market deposit accounts.
For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.
Fair Lending Notice
THE HOUSING FINANCIAL DISCRIMINATION ACT OF 1977
It is illegal to discriminate in the provision of or in the availability of financial assistance because of the consideration of:
- Trends, characteristics or conditions in the neighborhood or geographic area surrounding a housing accommodation, unless the financial institution can demonstrate in the particular case that such consideration is required to avoid an unsafe and unsound business practice; or
- Race, color, religion, sex, marital status, national origin or ancestry.
It is illegal to consider the racial, ethnic, religious or national origin composition of a neighborhood or geographic area surrounding a housing accommodation or whether or not such composition is undergoing change, or is expected to undergo change, in appraising a housing accommodation or in determining whether or not, or under what terms and conditions, to provide financial assistance.
These provisions govern financial assistance for the purpose of the purchase, construction, rehabilitation or refinancing of one- to four-unit family residences occupied by the owner and for the purpose of the home improvement of any one- to four-unit family residence.
If you have questions about your rights, or if you wish to file a complaint, contact the management of this financial institution or:
California Department of Financial Institutions
45 Fremont Street, Suite 1700
San Francisco, CA 94105-2219
300 South Spring Street, Suite 15513
Los Angeles, CA 90013-1204
Funds Availability
Our general policy is to allow you to withdraw funds deposited in your account on the first business day after the day we receive your deposit. Funds from electronic direct deposits will be available on the day we receive the deposit. In some cases, we may delay your ability to withdraw funds beyond the first business day. Then, the funds will generally be available by the second business day after the deposit.
USA Patriot Act
Important information about account opening procedures.
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you:
When you open an account, we will ask for your name, address, date of birth, tax identification number and other information that will allow us to identify you.
We may also ask to see your driver’s license or other identifying documents.
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