About Bank Mutual Direct

1. What is Bank Mutual Direct and who is Bank Mutual?
2. Is Bank Mutual Direct a safe and sound financial institution?
3. What products are offered at Bank Mutual Direct?
4. Is Bank Mutual Direct FDIC insured?
5. What is Bank Mutual's FDIC certification number?

Opening a Bank Mutual Direct Account

1. How do I open a Bank Mutual Direct account?
2. What documents/information will I need to apply for a Bank Mutual Direct account?
3. Where is the routing number on my check?
4. Are there eligibility requirements to open an Bank Mutual Direct account?
5. Are there any limitations to the types of accounts I can open at Bank Mutual Direct?
6. Does Bank Mutual Direct offer IRA accounts?
7. Can I open an account with a beneficiary?

Your Bank Mutual Direct Account

1. How do I know when my new account is opened?
2. How do you keep my information and account secure?
3. How do I log in to view my account?
4. Is there a penalty for early withdrawal?
5. Do I have to change banks to open a Bank Mutual Direct Account?
6. How do I make deposits to and withdrawals from my Bank Mutual Direct Account?
7. How often will I receive a statement?

Deposit and Withdrawals from your Bank Mutual Direct Account

1. Where is the routing number on my check?
2. What is the routing number for Bank Mutual Direct?
3. When will the money I transfer from my Bank Mutual Direct Account appear in my external account?
4. How long does it take for my confirmation deposits to show up in my external account?
5. How late can I fill out a transfer request for the request to be received the same day?

Your High Yield Money Market Account

1. Does the High Yield Money Market Account have fees or minimum balance requirements once the account is opened?
2. Can I use an ATM card to access my High Yield Money Market Account?
3. Are there limits on the number of withdrawals or deposits that I can make?
4. Are there limits on the dollar amount that I may transfer out of my account?

What is Bank Mutual Direct and who is Bank Mutual?

Bank Mutual Direct is the online-only division of Bank Mutual which is the subsidiary bank of Bank Mutual Corporation. Founded in Milwaukee, Wisconsin in 1892 Bank Mutual has grown to become a Midwest presence in personal and business banking. Now with 79 offices throughout the State of Wisconsin and Minnesota, assets total $3.6 billion.

Bank Mutual Direct offers another avenue for customers outside of our primary market areas to experience our great products and great rates.

Bank Mutual Corporation is traded on The NASDAQ Global Select MarketSM under the symbol "BKMU." The Company is the fifth largest financial institution holding company headquartered in the state of Wisconsin.

Is Bank Mutual a safe and sound financial institution?

Yes. Bank Mutual, based in Milwaukee, Wisconsin since 1892 has over $3.6 billion in assets and is the fifth largest financial institution headquartered in the state of Wisconsin. In addition, Bank Mutual has an extremely low non-performing loans to loans receivable, a net of only 1.35% as of September 30, 2008. Bauer Financial, a nationally-known bank rating system, gave Bank Mutual its highest "Excellent" 5-star rating.

What products are offered at Bank Mutual Direct?

BankMutualDirect offers a High Yield Money Market account, which is a liquid, interest-bearing account. Our bank offices do offer some of the highest rates in the country, however you can earn even higher rates at BankMutualDirect. You can open a High Yield Money Market Account with just $25,000. All deposits are FDIC insured up to $250,000 until December 31, 2013.

Is Bank Mutual FDIC insured?

Yes, to the maximum allowed by law. Your deposits at Bank Mutual are FDIC insured up to $250,000 until December 31, 2013. Individual and joint accounts are insured separately. If you have both types of accounts with us, your total deposits can be insured up to $500,000 until December 31, 2013; that's up to $250,000 until December 31, 2013 in all your individual accounts, and up to an additional $250,000 until December 31, 2013 in your joint accounts. 

Bank Mutual is participating in the FDIC's Transaction Account Guarantee Program.  Under the Program, through December 31, 2009, all checking accounts are fully guaranteed by the FDIC for the entire amount in the account.  This unlimited coverage does not extend to money market accounts, such as the Bank Mutual Direct Money Market Account, even though they may have check writing privileges.  Coverage under the Transaction Guarantee Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules.

All other deposits are now insured up to at least $250,000 per depositor until December 31, 2013.

On January 1, 2014, FDIC deposit insurance for all deposit accounts except certain retirement accounts, like IRAs, will return to at least $100,000 per depositor unless the law changes before that time.

Insurance coverage for certain retirement accounts, like IRAs, will remain at $250,000.  You can learn more about the FDIC at www.fdic.gov.

What is Bank Mutual's FDIC certification number?

Bank Mutual's FDIC certification number is 30125.

How do I open an Bank Mutual Direct  account?

Opening a BankMutualDirect High Yield Money Market Account is quick, easy and convenient. The only requirements are a valid social security number, U.S. driver's license, U.S. postal address, and a personal checking or savings account at a United States bank. In a few easy steps and ten minutes or less, you can open your account online. You do not need any special software or hardware. If you have questions, please call our Customer Contact Center at 1-877-999-2242.

What documents/information will I need to apply for a Bank Mutual Direct account?

You will need the documents and information listed below before you start the application:

• Valid U.S. Driver's License
• Previous Home Address (if you have lived at your home address less than two years)
• Social Security Number
• Checking or Savings account number and routing number from a United States bank to fund your new account (these are listed on your checks or deposit slips)

Where is the routing number on my check?

The sample check below shows where routing number can be found.

Are there any eligibility requirements to open an Bank Mutual Direct account?

Yes, the following eligibility requirements apply when opening a Bank Mutual Direct account:

• You must be at least 18 years of age to apply.
• All applications are subject to a review of past account handling and verification of the information provided.
• Bank Mutual verifies identification and submits new account applications to a Credit Bureau for a background check. By applying for a new account, each account applicant consents to Bank Mutual obtaining a credit report and verifying his or her background information. Bank Mutual reserves the right not to open an account that has inconsistencies found in the information provided on the account application, from the background check, or if substantial derogatory information exists in a credit investigation.
• Bank Mutual must be able to successfully process your initial deposit. You will be notified if your account request cannot be processed.

Are there any limitations to the types of accounts I can open at Bank Mutual Direct?

The following account types cannot be opened online: business accounts, Power of Attorney, accounts in the name of a trust or trustee, and accounts under the Uniform Transfers to Minors Act or similar statutes.

Does Bank Mutual Direct offer IRA accounts?

Bank Mutual Direct does not offer IRA Accounts. IRA Accounts are only available through our bank offices in Wisconsin and Minnesota.

Can I open an account with a beneficiary?

Yes. Accounts, either individual or joint, with up to four beneficiaries can be opened online. You will have the opportunity to name a beneficiary or beneficiaries during the online account opening process.

How do I know when my new account is opened?

Opening a High Yield Money Market Account on BankMutualDirect is simple:
Complete the online application and have the funds withdrawn from a checking or savings account as an ACH transaction ( Automated Clearinghouse transaction) which is electronic.

Account opening requests received by 2:00 p.m. CST on a business day will be processed the same day. If your request is received after 2:00 p.m. CST on a business day, or on a Saturday, Sunday or Federal holiday, your request will be processed on the next business day. Our business days are Monday through Friday, excluding Federal holidays.

Once the High Yield Money Market Account is open, you will receive a confirmation e-mail with your online banking and e-statment login and password.

How do you keep my information and account secure?

Your security and privacy are extremely important to us. We continue to provide some of the highest security and privacy levels in the banking industry.  Our technology and procedures are in place to safeguard both the information you submit and your money. For complete details, review our Privacy Notice.

How do I log in to view my account?

To log in and view your account information, you'll need the user ID and temporary password that we send you in two separate e-mails. Never provide this personal information to anyone. You can go to BankMutualDirect.com and login from the homepage. After your initial login, you will be prompted to change your temporary password. If you do not know the initial login or do not remember your user ID or password you can call our Customer Contact Center 24/7 at 1-877-999-2242.

If you have a joint account, once the primary accountholder has logged in using the user ID and password given, he or she may set up an additional user ID and password for the secondary account holder.

Is there a penalty for early withdrawal?

No, there is NO penalty for withdrawing funds from your Bank Mutual Direct High Yield Money Market Account.

Do I have to change banks to open a Bank Mutual Direct Account?

No. Since the Bank Mutual Direct Account can be linked to an existing account at another financial institution, you can still keep your primary checking account at another bank. Your Bank Mutual Direct Account is a safe and secure home for your savings with an easy to use transfer capability to move money to and from your other accounts.

How do I make deposits to and withdrawals from my Bank Mutual Direct Account?

Withdrawals may only be made by an ACH (Automated Clearinghouse) transaction back to the account that was used for initial funding. To request an ACH transaction, please click the "Deposits and Withdrawals" link located underneath your online banking login.

Requests for deposits and withdrawals received by 2:00 p.m. on a business day will be processed the same day. If your request is received after 2:00 p.m. CST on a business day, or on a Saturday, Sunday or Federal holiday, your request will be processed on the next business day. Our business days are Monday through Friday, excluding Federal holidays.

How often will I receive a statement?

You will receive a monthly e-statement for your Bank Mutual Direct Account.

Where is the routing number on my check?

To initiate ACH transactions from other financial institutions, you will need to provide a routing number to Bank Mutual Direct. The sample check below shows where routing numbers can be found on your checks.

Routing numbers expedite the processing of debits and credits between financial institutions.

What is the routing number for Bank Mutual Direct?

Bank Mutual Direct's routing number is 275071330.

When will the money I transfer from my Bank Mutual Direct Account appear in my external account?

You can expect money you transfer from your Bank Mutual Direct Account to appear in your external account within two business days. However, the exact timing will depend upon the processes of the other institution.

How long does it take for my confirmation deposits to show up in my external account?

Confirmation deposits should show up in your external account within one to two business days.

How late can I fill out a transfer request for the request to be received the same day?

If we receive your transfer request by 2:00 p.m. CST, your transaction will be processed that business day. If your request is received after 2:00 p.m. CST on a business day, or on a Saturday, Sunday or Federal holiday, your request will be processed on the next business day. Our business days are Monday through Friday, excluding Federal holidays.

Does the High Yield Money Market Account have fees or minimum balance requirements once the account is opened?

Yes. There is a $25,000 minimum balance requirement. Should your balance fall below $25,000 at any time during the month, you will be assessed a $125 monthly service fee. There is no charge for making transfers into or out of your High Yield Money Market Account.

Can I use an ATM card to access my High Yield Money Market Account?

No, ATM transactions are not available for this account. However, the High Yield Money Market Account offers accountholders easy access to their money through electronic transfers back to the account from which the initial deposit was made.

Are there limits on the number of withdrawals or deposits that I can make?

There is no limit on the number of deposits you can make each month. However, Federal regulations require us to limit the number of withdrawals from the High Yield Money Market Account to six per month.

Where may I transfer money to from my Bank Mutual Direct account?

For your safety, electronic dollars transferred out of a High Yield Money Market Account may only be returned to the account from which they came.