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The Milford National Bank and Trust Frequently Asked Questions

GENERAL QUESTIONS      DEPOSIT ACCOUNT QUESTIONS      LOAN ACCOUNT QUESTIONS     ONLINE BANKING QUESTIONS


GENERAL QUESTIONS

Q: Who is Rockland Trust and where are they located?
A: Rockland Trust is a regional community bank that offers a full range of consumer, business, and investment products and services. With more than 85 branches serving eastern Massachusetts, Rockland Trust offers locations in Greater Boston communities, as well as Bristol County, the South Shore, Cape Cod, and Martha’s Vineyard.

Rockland Trust is a strong and safe bank that was recently recognized by Bank Director as the top performing bank in Massachusetts.  In addition to consumer banking and lending products, Rockland Trust is a leader in business and commercial banking. 

Like The Milford National Bank and Trust, Rockland Trust has a 100+ year heritage and shares a deep commitment to the communities it serves.  Both organizations pride themselves on delivering the exceptional personal service of a community bank. Both organizations also believe that colleagues are critical to their success, which has contributed to them being respected employers with long-term loyal employees.  In fact, The Boston Globe has recognized Rockland Trust as one of the Best Places to Work nine years in a row and ranked the Bank in 2017 as the #1 financial services company to work for in its category. 

The Milford National Bank and Trust is a strong and profitable community bank. The combination will create an even stronger bank committed to serving the needs of communities, customers, and businesses. Joining forces with Rockland Trust positions us to thrive in an increasingly competitive environment where technology is required to meet our customers’ needs.

Joining forces with Rockland Trust preserves the strengths of The Milford National Bank, while bringing additional capabilities and technology to support the needs of our customers and communities.

Rockland Trust brings a deep and broad range of consumer and business capabilities that will help us serve our customers’ needs better.  Additional products and services Rockland Trust provides, include: 

  • “Smart” ATMs that allow for envelope-free bulk deposits with check images printed on receipts;
  • State-of-the-art mobile banking services for consumers and businesses, including the ability to deposit checks via smart phone or tablet, and Apple PayTM , Samsung Pay, and Google PayTM;
  • Instant issue chip-enabled debit cards;
  • A wide range of investment management and trust services and products through Rockland Trust’s Investment Management Group (IMG), which will complement The Milford National’s experienced investment management team with the resources of one of the largest independent investment advisors in Massachusetts;
  • Cash management services for businesses, including “positive pay” and an automated fraud detection tool;
  • A business credit card that provides rewards, multiple layers of security, and other built-in benefits;
  • Larger commercial lending capacity, of up to $75 million, served through 11 commercial lending centers;
  • A wide range of affordable housing capabilities and expertise;
  • Merchant services that allow our business customers to accept credit and debit cards in their stores and even on their web sites;
  • Asset Based Lending programs that allow us to meet the credit needs of a broader set of business customers;
  • Foreign exchange services and 1031 exchanges; and
  • A dedicated municipal and government banking team that offers resources to navigate the often complex fiduciary concerns and compliance requirements.

Q: When do we anticipate the merger with Rockland Trust to be completed?
A: The proposed merger is subject to customary regulatory approvals and approval by the shareholders of MNB Bancorp, parent company of The Milford National Bank and Trust Company. It is anticipated that the merger will occur in November 2018.

Q: What will the name of the bank be?
A: The name of the combined bank will be Rockland Trust. 

Q: Do I need to close my account(s)?
A: No. Once the merger is complete, all of your accounts will be automatically converted to the Rockland Trust system.

Q: When can I start using Rockland Trust branches?
A: Starting on Monday, November 19th, you can begin using any Rockland Trust branch location.

Q: Will my branch remain open?
A: Yes. All Milford National Bank branches will remain open.

Q: Does Rockland Trust have telephone banking?
A: Yes. With Rockland Trust’s Telephone Banking, you can access account information, transfer funds between accounts, make loan payments, and do much more when and where it’s convenient for you. For security reasons, on or after November 19th, you will need to establish an access number and PIN to use our telephone banking system. To establish an access number and PIN, you can visit your local branch or call our Customer Information Center at 508.732.7072 after the merger.

Q: What will happen to my safe deposit box?
A: There will be no interruption with your safe deposit box. Note: To welcome you to Rockland Trust, we will provide you with a 10 percent discount on your first year’s annual rent with Rockland Trust.

Q: What is Rockland Trust’s routing and transit number? 
A: The Rockland Trust routing and transit number is 011304478. Important: The Milford National Bank routing and transit number will expire in one year. To avoid interruption, after the merger, you should update any companies/service providers that send automatic debit or credit transactions to your account with the Rockland Trust routing and transit number.

Q: Will I have access to my Milford National Bank account history?
A: Your eStatements and transaction history with Milford National Bank will not be transferred. We recommend that on or before November 15th you print or download copies of your eStatements and transaction history. Going forward, you will have access to 13 months of transaction history in online banking and three years of eStatements.

Q: Does Rockland Trust offer UChoose Rewards?
A: Rockland Trust does not offer UChoose Rewards. All UChoose Reward points must be redeemed as of Friday, November 9th. Points not redeemed by this date will be forfeited.

Q: When will I receive my last statement from Milford National Bank? 
A: A final Milford National Bank account statement for all checking and savings accounts will be mailed to you with up-to-date information as of November 16th. If you receive electronic statements, you will receive your final statement via mail. If you are a passbook customer, we recommend that you visit your local branch and have your passbook updated by the close of business on Friday, November 16th.

Q: When will I receive information on my MNB Wealth Management® accounts?
A: If you are an MNB Wealth Management® customer, you will receive a separate mailing from us in early November with information about your existing Wealth Management accounts. Please note: Your MNB Wealth Management accounts are not included in the enclosed Account Summary.

Q: Where are the neighboring Rockland Trust’s branches located?
A: Once the merger is complete, you will have the convenience of banking at more than 85 branch locations throughout eastern Massachusetts. Rockland Trust has 8 branch locations in the communities in and around Milford:

221 Main Street
Milford, MA

4 North Main Street
Bellingham, MA

58 Main Street
Franklin, MA

231 East Central Street
Franklin, MA

1 Mechanic Street
Foxborough, MA

76 North Street
Medfield, MA

61 Lenox Street
Norwood, MA

 670 High Street
Westwood, MA

 

DEPOSIT ACCOUNT QUESTIONS

Q: Does Rockland Trust offer Deposit Insurance?
A: Yes. Rockland Trust is a strong, secure, and well-capitalized bank and a safe place for your deposits. All deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. This coverage can be increased for larger deposits through titling of accounts.

Deposits at Milford National Bank are similarly insured by the FDIC. As a result, the merger will not affect deposit insurance coverage for many customers. If you have accounts at both Rockland Trust and Milford National Bank, under federal law you will continue to receive the same FDIC coverage as if your accounts were still at separate banks for six months after the merger. Certificates of Deposit will continue to receive separate FDIC insurance coverage until the first maturity date after the six-month period. After six months have passed, if your total account balance(s) exceed $250,000, any excess may not be covered by FDIC insurance.

Like Milford National Bank, Rockland Trust also participates in Certificate of Deposit Account Registry Service (CDARS). A CDARS account enables customers to insure their deposits up to $50 million.

Q: When will funds from my deposits be available?
A: Under our Funds Availability Policy, your deposits are generally available on the first business day after the business day we receive them. Electronic direct deposits and cash deposits are generally available the business day we receive them. We may extend these times in certain cases. Please refer to the enclosed Funds Availability Policy for more details.

Q: Will Rockland Trust continue to automatically deduct payments, bills, and external loan payments from my account? 
A: Yes. Electronic payment arrangements will continue uninterrupted. Important Note: If you have recurring payments processed through your Milford National Bank Debit Card, be sure to notify your service providers on or after November 19th with your new debit card account number in order to ensure a smooth transition.

Q: What will happen to the direct deposit of payroll or Social Security payments going into my account? 
A: Direct deposit of payroll, Social Security, pension, or government payments will automatically continue after your account converts to Rockland Trust. However, a notification of change will be sent to the person/company that is initiating the transaction, asking them to change the routing and transit number to 011304478, as the Milford National Bank routing and transit number will expire in one year. After the conversion, you may receive a paper check during the time the person/company is updating your records. Please contact your provider for any additional instructions.

Q: Can I use my current checks or deposit tickets? 
A: If you have a checking account, you may continue using your existing checks beyond the merger date. After the merger is complete, you will receive a communication on how to order Rockland Trust checks.

Q: Will I receive a new ATM and/or debit card? 
A: Yes. Prior to the merger, you will receive a new chip-enabled debit card with important information about card activation and when you should start using it. In addition, you will receive a separate mailing with your new PIN information.

If you currently have any automatic payments from your Milford National Bank Debit Card, they will no longer work after November 18th. In order to continue automatic payments, please contact your service provider to update them with your new Rockland Trust Debit Card number.

If you are an existing Rockland Trust debit/ATM cardholder, you will receive a new chip-enabled debit card to access your converting Milford National Bank account. After the merger is complete, you can contact the bank and link your accounts to one card.

Q: Will my account number(s) remain the same?
A: Yes. Your account number(s) will remain the same.

Q: Does Rockland Trust offer online banking? 
A: Yes. If you are currently an online banking and bill pay customer, you will receive a separate mailing from us in late October with instructions on how to get started with Rockland Trust Online Banking.

Q: Does Rockland Trust offer mobile banking? 
A: Yes. Rockland Trust offers mobile banking with mobile check deposit. You can download and start using our app on or after November 19th.

Q: Will I have to access ATMs on the SUM® program after the conversion? 
A: Yes. In addition to more than 125 ATM locations throughout eastern Massachusetts, Rockland Trust is a member of the SUM® program. Note: Rockland Trust may charge you a fee to use another bank’s ATM even within the SUM® Network. However, the other bank’s fee will not be charged.

Q: Will there be any changes to my deposit statements? 
A: Your statement(s) will look slightly different. You will receive your savings statement monthly if there has been an electronic transaction that month; otherwise, you will receive your statement quarterly. Checking account statements will be mailed monthly.

If you received eStatements for your checking or savings accounts, you will need to reinstate them by accepting the eStatement disclosure in the Rockland Trust Online Banking system after the merger is complete.

Rockland Trust offers combined statements. If you would like to take advantage of this feature, please contact your local branch or call 508.732.3825 after the merger is complete.

Q: Will there be any changes to the interest rate of my existing Certificate of Deposit (CD)? 
A: No. The interest rate and term of your existing CD will remain the same through its maturity. Prior to maturity, you will receive a CD pre-renewal notice. At maturity, or during the grace period of 10 calendar days following and including the maturity date, you may change the term, interest payment frequency, or principal amount of your CD. During the grace period, you may also choose not to renew your CD. If you do not renew your CD, you will not earn interest past the maturity date. If you do not make any changes, your CD will automatically renew for the term indicated on your CD pre-renewal notice.

Q: Will my IRA account change? 
A: No. There will be no changes to the terms of your existing IRA. Upon the merger, Rockland Trust will become the custodian of your IRA.

Q: Will I still have access to my overdraft protection line? 
A: Yes. If you have overdraft protection and overdraw your account, you will be covered for the exact amount of the overdraft, up to the amount of your overdraft protection line.

Q: How do I make my monthly overdraft protection payment? 
A: Monthly payments that are due will be automatically debited from your Rockland Trust checking account on the payment due date, which will be 25 days from the date of your statement.

Q: Will I still have access to my Optional Overdraft Protection Service? 
A: After the merger is complete, you will have access to Rockland Trust’s Discretionary Overdraft Privilege service. Discretionary Overdraft Privilege will be limited to a maximum of $750 compared to Milford National Bank’s limit of $1,000. Discretionary Overdraft Privilege does not cover overdrafts caused by ATM and debit card transactions. If you wish to opt-in to this service, you can do so after the merger is complete.

 

LOAN ACCOUNT QUESTIONS

Q: Are there any changes to the terms of my loan(s)? 
A: No. The terms of your loan(s) will remain the same. 

Q: Will my loan account number remain the same?
A: Yes. Your account number will remain the same.

Q: Where do I make my loan payments? 
A: You can make loan payments through online banking, at any Rockland Trust branch, or by mailing your payment to:

Rockland Trust
P.O. Box 32 
Middleboro, MA 02346

Online Payments: If you use an online bill pay provider outside of Milford National Bank, please update your account with the address above. Rockland Trust’s routing number is 011304478.

Q: Will Rockland Trust continue to automatically debit my deposit account for my loan payment? 
A: Yes. Any automated payment arrangement will continue uninterrupted. The bank will attempt to withdraw funds from your deposit account for three days beginning on your scheduled automatic payment date. At Rockland Trust, checks can be written with no minimum amount.

Q: Will I still be able to use my Home Equity Line of Credit? 
A: Yes. After the merger is complete, you will receive a new packet of Rockland Trust checks. Upon receipt of the new checks, please destroy the packet you are presently using.

Q: When is my Home Equity Line of Credit payment due? 
A: Home Equity Line of Credit payments are due 25 days from the date of your statement.

Q: I have a loan secured by collateral. What do I need to provide to my insurance company? 
A: To update your policy, you will need to contact your insurance company and provide them with the following Mortgagee/Loss Payee information.

Rockland Trust ISAOA/ATIMA 
P.O. Box 812 
Norwell, MA 02061

 

ONLINE BANKING QUESTIONS

Q: When will my access to Milford National Bank Online and Mobile Banking end?
A: Access to Milford National Bank Online and Mobile Banking ends on Friday, November 16 at 5:00 p.m.

Q: When will my access to Milford National Bank Bill Pay end?
A: Access to Milford National Bank Bill Pay ends on Thursday, November 15 at Noon.

Q: What should you do before November 13, 2018, to prepare?

  1. If you use account alerts, eBills, or scheduled and recurring transfers between your account and other financial institutions, you will need to reestablish them in
    Rockland Trust Online Banking. Please make note of them so that you can easily reestablish these. 
  2. Your account eStatements and transaction history will not transfer. Please print or download copies of your eStatements and transaction history for your records.
  3. Verify that your contact information is up to date within Milford National Bank Online Banking. Please refer to the enclosed brochure for instructions on how to update your email address and phone number.
  4. Update your browser—verify you’re using the most updated versions of your web browser and operating system. To verify if you are using the most updated version, click here.

Q: What information will transfer to Rockland Trust Online Banking?
A: The following information will be automatically transferred from your Milford National Banking Online Banking account to Rockland Trust Online Banking:

  • General account information and User ID (unless you were notified differently)
  • Bill pay payee information 
  • Scheduled and recurring bill payments 
  • Bill payment history for active payees for the past six months 
  • Scheduled and recurring transfers among your Milford National Bank accounts 

Q: What information will not transfer to Rockland Trust Online Banking?
A: The following information will not transfer from your Milford National Banking Online Banking account to Rockland Trust Online Banking:

  • Transaction history and copies of eStatements 
  • Linked accounts with another financial institution 
  • Scheduled and recurring transfers between your account and another financial institution 
  • eBill information, account alerts, and account nicknames 
  • Third-party bill pay services, such as Pop Money 
  • QuickBooks and Quicken online banking account links
  • Business Users: Other assigned users and their user rights 

Q: When can I reestablish my information that will not carry over?
A: When you log in to Rockland Trust Online Banking on or after November 19, you can reestablish the information above.  Please make note of these items before November 13, so that you can easily reestablish them. For security reasons, some alerts have already been activated.

Q: Should I make copies of my eStatements and online banking account history?

A: For your records, we recommend that you print or download copies of your eStatements, transaction history, and bill payment history. Going forward, you will have access to 13 months of transaction history and 3 years of eStatements.

Q: Will my account alerts and scheduled/recurring transfers that I have scheduled in Milford National Bank Online Banking process as normal?

A: Your current alerts and all scheduled or recurring transfers will process through Friday, November 16, 2018.

Q: Will I still have access to Bill Pay? 
A: If you currently use bill pay, all of your bill payments will continue to process without interruption. All payees, recurring payments, payment information, and bill payment history for active payees for the past six months will transfer to Rockland Trust Online Bill Pay. You will be able to view and edit this information beginning Monday, November 19, when you log in to Rockland Trust Online Banking.

Q: When can I access Rockland Trust Online Banking?
A: Access to your accounts at Rockland Trust Online Banking begins at 7:00 a.m. at RocklandTrust.com, or by downloading the Rockland Trust Mobile Banking app.

Q: What is my User ID for online banking?
A: Unless told otherwise, your User ID is whatever you were using as a Sign-On ID for Milford National Bank’s Online Banking.

Q: Can I change my User ID? 
A: If you would like to change your User ID, log in to online banking then go to Settings > Security Preferences > Change Login ID.

  1. What is a Secure Access Code? 
    A
    . When you log in to Rockland Trust Online Banking for the first time, you will be prompted to receive a Secure Access Code. This one-time use code allows you to securely log in to our online banking system. The code will be sent to the email or phone number associated with Milford National Bank Online Banking account.  It is important that you verify that your email and phone number are correct by November 13.

Q: How will I receive my Secure Access Code?
A: The Secure Access Code will be sent to the email or phone number associated with your Milford National Bank Online Banking account. It is important that you verify that your email and phone number are correct by November 13.

Q: How do I update my email or phone number in Milford National Bank Online Banking? 
A: On or before November 13, log in to Milford National Bank Online Banking. Click on the Account Services Tab and go to My Profile. The online change of address form is located in Request. Enter your new email address and click Submit. You may also call or visit a Milford National Bank branch.

  1. Do I have to enter a Secure Access Code every time I log in?
    A. Upon your second login, you will have the option to register this device. If you select Register Device, you may no longer need a Secure Access Code for that device. We recommend selecting this option for your personal devices including your computer, laptop, tablet, and mobile phone on a secure network.

If you do not select this option then you will be required to obtain and enter a Secure Access Code each time you login. Note: To maintain your device registration, your browser must be configured to accept and retain cookies from Rockland Trust. If your device is set up to regularly delete cookies or has an automated program that does so, you will be prompted to register your device after that deletion occurs. For help with cookies and registering your device, see the question and answer for enabling cookies for your browser. 

Q: How do I log in to Rockland Trust Online Banking for the first time?
Note: If you received a letter with an assigned User ID, enter that in the User ID box on Step 2.

On a computer or laptop:
1. Go to RocklandTrust.com and click on the blue Account Logins box in the top right corner of the screen.
2. On the next screen, enter your Milford National Bank Sign-On ID in the User ID box and click Log in.
3. On the next screen DO NOT ENTER A PASSWORD. Instead, click on I am a new user.
4. Submit your User ID to reset your password. 
5. Select the way in which you would like to receive your Secure Access Code.
6. Enter the Secure Access Code in the box and click Submit. The Code is good for only 15 minutes. If it expires, you can always request a new one.
7. Validate the information in the User Profile and make changes, if needed.
8. Click Submit Profile at the bottom of the screen.
9. Create a new password following the requirements listed on the page and click Submit at the bottom of the page.
10. Read the Online Banking Agreement and scroll to the bottom to accept its terms.
11. Click the I Accept button to formally accept the Online Banking Agreement.
12. Upon your second login, you will be prompted with the option to register the device you’re on. If you register the device, you may no longer need to obtain a Secure Access Code when logging in from the same computer.
13. If you would like to change your User ID, log in to online banking, then go to Settings > Security Preferences > Change Login ID.

On a tablet or smartphone:
1. Visit the App Store or Google Play to download the Rockland Trust Mobile Banking app.
2. Log in to mobile banking using your online banking credentials.
3. Follow steps 3 through 13 above.

Q: I already have Rockland Trust accounts and Rockland Trust Online Banking. What should I do? 
A: If you are an online banking customer of both Milford National Bank and Rockland Trust, your Milford National Bank accounts will be rolled into your existing Rockland Trust Online Banking. You will be able to use your current Rockland Trust User ID to log in to your account. However, the following information will not transfer to your Rockland Trust account:

  • Your payee and payment information from your Milford National Bank account. You will need to reestablish this information.
  • eBills that you receive through Milford National Bank Online Banking. You will need to reestablish this information in Rockland Trust Bill Pay.
  • Any pre-scheduled transfers from your Milford National Bank account.
Q: How do I add multiple users to my business accounts?
A: To learn more about adding and managing users, click here.
 

Q: How do I reinstate eStatement delivery in Rockland Trust Online Banking?
A: If you receive eStatements and wish to continue doing so, you can reinstate your choice within Rockland Trust Online Banking by clicking on the Statements tab and accepting the eStatement disclosure. Otherwise, your statements will be mailed to you.

Q: Will my Rockland Trust Online Banking still be linked to QuickBooks or Quicken?
A: If your online banking account is linked to QuickBooks or Quicken, you will need to merge or re-link your account. Click here for more information on re-linking your account.

Q: What if I don’t see my account(s) on my online banking?
A: If you don’t see an account that should be on your online banking, message our Customer Information Center through online banking or call them at 508.732.3825.

Q: Will I still be able to use the mobile app? 
A: You will be able to use Rockland Trust’s mobile phone app starting on Monday, November 19, 2018.

  1. How do I login to mobile banking?
    A. To access mobile banking, you will need to download the new Rockland Trust Mobile App from the Apple App Store or from Android Apps on Google Play. Once the app is downloaded you can use your User ID and password that you use to access online banking.

Q: Where do I find the SecurLOCK™ Equip app? 
A: You can find the SecurLOCK™ Equip app on your phone’s app store by searching “SecurLOCK”.

Q: How can I learn more about the features and benefits of Rockland Trust online and mobile banking for personal accounts? 
A: Click here to learn more about Rockland Trust online and mobile banking?

Q: How do I learn more about the features and benefits of Rockland Trust online and mobile banking for business accounts? 
Q: Click here to learn more about Rockland Trust Business online and mobile banking.

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