Dunham Easy Access Loans

Disclosures

Customers Bank is the lender for securities-based lines of credit marketed under the Dunham Easy Access Loans program. Customers Bank is an independent lender not affiliated with Dunham Trust or its affiliate Dunham & Associates Investment Counsel, Inc. (“DAIC”), member FINRA/ SIPC. Customers Bank is a Pennsylvania State-chartered bank and a wholly owned subsidiary of Customers Bancorp, Inc. (NYSE: CUBI). Customers Bank is a member of the Federal Reserve System and Federal Deposit Insurance Corporation and is an equal opportunity lender.

Nothing herein is or should be interpreted as imposing an obligation on Customers Bank to lend. All lines of credit are subject to credit approval, verification, and collateral evaluation. Certain restrictions and terms and conditions apply. Products, rates, qualifications, and terms and conditions are subject to change without notice.

Dunham Trust is acting as custodian of the securities pledged as collateral by you, who may be a borrower or a guarantor, to secure borrower’s or guarantor’s repayment of amounts due under the securities-based line of credit extended by Customers Bank pursuant to the Loan Agreement.

Dunham Trust as custodian, holding the securities account(s) receives compensation related to the use of the securities-based line of credit. In connection with the initial referral of your application to Customers Bank and the ongoing administration of your securities account(s) serving as collateral for the loan, Customers Bank may pay an administrative fee to Dunham Trust that is based directly or indirectly on your outstanding loan balance with Dunham Trust. This means that there could be an incentive for Dunham Trust to recommend that you open a securities-based line of credit and for Dunham Trust to encourage you to maintain a larger loan balance. You should take this into consideration when evaluating the appropriateness of a securities-based line of credit and discuss any questions you have regarding these compensation arrangements with your Financial Advisor.

The proceeds from a securities based line of credit may not be used to purchase or carry (or repay debt related to the purchase or carry of) margin securities, which include: i) stocks that are registered on a national securities exchange, or any over-the-counter security designated for trading in the national market system; ii) debt securities (bonds) that are convertible into margin stock; and iii) shares of most mutual funds.

Borrowing against securities involves risk and may not be suitable for all investors or potential borrowers. A decline in the market value of the securities serving as collateral for your line of credit could require you to pay down your loan or pledge additional securities on short notice to avoid a forced sale of the securities in your pledged account(s). Furthermore, the sale of any of your pledged securities could cause you to suffer adverse tax consequences. These and other risks are described in detail in the 'Risks and Other Considerations for Securities Based Lines of Credit' disclosure document which is available upon request.

You should consult with your Financial Advisor and ensure that you understand and carefully consider these risks in determining whether a securities-based line of credit is suitable for your situation before proceeding.

Please review the Loan Agreement and all other documents contained in your securities-based line of credit loan package for terms and conditions governing your line of credit.

Neither Dunham Trust/ DAIC, Customers Bank, nor any of their respective representatives provide legal or tax advice. You should discuss potential legal and/or tax implications of pledging securities as collateral for a line of credit with an attorney or tax advisor.

Any statement concerning tax matters is not intended or written to be used and cannot be used for the purpose of avoiding penalties imposed on the relevant taxpayer. The taxpayer should obtain their own independent tax advice based on their particular circumstances.

All securities and accounts are subject to eligibility requirements. Securities held in a retirement account cannot be used as collateral for a securities-based line of credit. Dunham Easy Access Loans are not available in Hawaii, Iowa, Oklahoma and Oregon.

Please refer to the Risks and Other Considerations for Securities Based Lines of Credit' disclosure document, the Dunham Firm Brochure/ Wrap Fee Brochure and the Regulatory BI Disclosures for more information on pledging your Dunham AAP account(s).

*Certain complex applications may take longer.

Investment products are not insured by the FDIC, Customers Bank or any federal agency, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks, including possible loss of principal and fluctuation in value.