IDA Terms and Conditions

Updated 3/22/11

Account Terms and Conditions: Saver’s Account will be governed by terms, conditions, agreements and disclosures (collectively, “Citibank Agreement”) furnished by Citibank. Saver agrees to abide by the Citibank Agreement as a condition to Saver’s participation in the IDA Program, and acknowledges that it has received the Citibank Agreement from Citibank and that Opportunity Fund has no obligation to provide the Citibank Agreement (or any updates thereto) to Saver.

Program Beneficiary: In the event of Saver’s death prior to a “Termination Event” (defined below) Opportunity Fund will pay any matching funds earned by Saver in accordance with this Agreement to the person designated by Saver to Citibank as Account beneficiary or, if none, to Saver’s estate representative. In no event will matching funds be distributed to such beneficiary or estate representative for any purpose other than the “Asset Goal” identified in Part A (or another purpose approved by Opportunity Fund).

Approved Deposits: Saver will not make any deposits into the Account other than for purposes of the IDA Program (that is, Saver will not use the Account as a general account).

Earning of Matching Funds: Opportunity Fund will not make any deposit of matching funds into the Account until Saver has made consistent monthly savings for a minimum of 4, 6 or 12 months provided that Opportunity Fund may in its sole discretion disburse matching funds directly to an approved vendor or other recipient rather than depositing matching funds into the Account. All matching funds are gratuitous on the part of Opportunity Fund and Saver has no vested interest in the matching funds unless and until disbursed by Opportunity Fund for an approved purpose. Any interest earned on the Account will earn matching funds, at the Match Rate designated in Part A, up to the Maximum Match Amount designated in Part A.

Approved Withdrawals/Disbursements: All withdrawals from the Account must be authorized by both Saver and an approved Opportunity Fund representative. Saver will not attempt to withdraw or disburse funds from the Account unless authorized by an approved Opportunity Fund representative; Saver will forfeit all match funds if Saver attempts such an unauthorized withdrawal or disbursement. Withdrawals from the Account and disbursement of matching funds will only be made for the “Asset Goal” identified in Part A (or another purpose approved by Opportunity Fund). Withdrawals from the Account and disbursement of matching funds may be subject to verification or other audit procedures. In addition, withdrawals from the Account and disbursement of matching funds will not be approved unless Saver is in good standing with any other obligations to Opportunity Fund, including any outstanding small business loans. All matching funds will either be deposited by Opportunity Fund into the Account or disbursed by Opportunity Fund directly to an approved vendor or other recipient, in Opportunity Fund’s sole discretion.

Evaluation: Opportunity Fund may collect Saver information (such as savings patterns) for IDA Program evaluation purposes. However, Opportunity Fund will not disclose Saver names or other personally identifying information to any unaffiliated third parties other than Citibank to which Saver consents to such disclosure as condition of this Agreement) without the written consent of Saver. Saver may also be asked to participate in interviews, focus group and/or surveys as part of IDA Program evaluation. Such participation is completely voluntary.

Account Authorization: The Saver authorizes Opportunity Fund to (i) view and download Saver’s Account activity, and (ii) make transfers to and from the Account in connection with the IDA Program. The authorization to view and download Account activity will continue after the end of the Program Period (defined below) for evaluation purposes, unless Saver affirmatively removes it.

IDA Program Period/Termination: Saver’s participation in the IDA Program will automatically terminate on the earliest to occur of: (a) Saver has saved in the Account enough to earn the Maximum Match, and Saver has used all matching funds for an approved purpose, (b) the Program End Date has occurred and Saver has used all matching funds for an approved purpose, and (c) a Termination Event (defined below) has occurred. The “Program Period” shall end at such time.

“Termination Event” means any of the following: (1) Saver has elected to stop participating in the IDA Program (which Saver may do by notifying Opportunity Fund or by removing Opportunity Fund’s account authorization for the Account at any Citibank branch), (2) Saver misses more than two deposits within one twelve-month period, (3) Saver makes any withdrawals not authorized by Opportunity Fund from the Account prior to the Program End Date, (4) Saver provides false or misleading information to Opportunity Fund or attempts to use funds in the Account for a purpose not permitted hereunder and (5) Saver has not withdrawn or requested disbursement of matching funds, or otherwise requested and been granted an extension in writing one month following the Program End Date (or, after Saver has been granted an extension in writing of its deadline for withdrawing or requesting disbursement of matching funds to a date after the Program End Date, Saver has not withdrawn or requested disbursement of matching funds by such extended date).

Saver forfeits all Opportunity Fund matching funds if Saver does not withdraw or request disbursement of all matching funds within one month after the Program End Date provided that Saver may request that Opportunity Fund agree to extend the forfeiture date. Any extension agreed to by Opportunity Fund will be in its sole discretion and must be documented in writing. Any Termination Event will automatically result in Saver’s forfeiture of any matching funds earned or to be earned, as well as any other IDA Program benefits. If Saver provides false or misleading information or attempts to use funds in the Account for a purpose not permitted hereunder, Opportunity Fund will notify Citibank and Citibank may close the Account.

Change in Terms: Opportunity Fund reserves the right to modify any of the terms and conditions of the IDA Program set forth in this Part B, and add new terms and conditions of the IDA Program, including but not limited to procedures for withdrawal or disbursement of matching funds, at any time in its sole discretion by posting such new or revised terms and conditions to Opportunity Fund’s website, at www.opportunityfund.org/ida/saver/terms. Any such new or revised terms and conditions shall be binding upon Saver upon their posting to the Opportunity Fund website, and any deposit made by Saver after the posting of new or revised terms to the Opportunity Fund website shall constitute affirmative agreement to such new or revised terms.

No failure of Opportunity Fund to enforce any term of this Agreement will be deemed to create a course of dealing between Saver and Opportunity Fund or otherwise constitute a waiver of Opportunity Fund’s right to enforce any such term.