Disclosures

Rates

Share Savings Accounts, and Share Draft Accounts
Except as specifically described, the following disclosures apply to all of the accounts. All accounts described in this disclosure are share draft accounts.

1. Rate Information. The Annual Percentage Yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. For all accounts, the Dividend Rate and Annual Percentage Yield may change at any time as determined by the Credit Union’s Board of Directors. The Dividend Rates and Annual Percentage Yields are the rates and yield as of the last dividend declaration date, which is set forth in the rate schedule. The Money Market Plu$ account is a tiered rate account. If your daily balance is from $2,500.00 to $9,999.99, the first Dividend Rate and Annual Percentage Yield listed for this account in the Rate Schedule will apply. If your daily balance is from $10,000.00 to $24,999.99, the second Dividend Rate and range of Annual Percentage Yields listed for this account will apply. If your Daily Balance is $25,000 or greater, the third Dividend Rate and range of Annual Percentage Yield listed for this account will apply. The Money Market Plu$ account requires a minimum Daily Balance of $2,500.00 or more to earn the A.P.Y. disclosed for the dividend period. If the minimum daily balance is not met each day of the dividend period, you will not earn the stated A.P.Y.
2. Nature of Dividends. Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period.
3. Dividends Compound and Crediting. The compounding and crediting frequency of dividends and dividend period applicable to each account are stated in the Rate Schedule. The Dividend period is the period of time at the end of which an account earns dividend credit. The Dividend Period begins on the first calendar day of the period and ends on the last calendar day of the period.
4. Accrual of Dividends. For all accounts, dividends will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account. If you close your account before accrued dividends are credited, you will not receive the accrued dividends. However, for Christmas Club and Vacation Club accounts, any accrued dividends will be paid if you close the account within seven (7) days of the date you open it.
5. Balance Information. To open any account, you must deposit or already have on deposit at least the par value of one full share in a Share account. The par value amount is stated in the Fee Schedule. Some accounts may have additional minimum opening deposit requirements. The minimum balance requirements applicable to each account are stated in the Rate Schedule. For Share Draft and Money Market Plu$ accounts, there is a minimum Daily Balance required to earn the Annual Percentage Yield disclosed for the dividend period. If the minimum daily balance is not met each day of the dividend period, you will not earn the state Annual Percentage Yield. For accounts using Daily Balance method as stated on the Rate Schedule, dividends are calculated by applying a daily periodic rate to the balance in the account each day.
6. Account Limitations. For Share, Rainy Day, Spare Change, Christmas Club, Vacation Club and IRA Share accounts, no more than six (6) preauthorized, automatic, or telephone transfers may be made from each account or to a third party in any month, and no more than three (3) of these six (6) transfers may be made by check, draft, or debit card to a third party. If you exceed these limitations, your account may be subject to a fee or be closed. For Rainy Day, Spare Change, Christmas and Vacation Club Accounts, a $10 minimum is required to open ONLINE. For Christmas Club accounts, the entire balance will be transferred to another account of yours during the third week of October and the account will remain open. In addition, if you withdraw from your account at any other time, you will be charged a fee as disclosed in the Fee Schedule. However, no fee will be charged if the withdrawal occurs within seven (7) days of the date the account is opened. For Money Market Plu$ accounts, the minimum amount you may deposit or withdraw is $100 per transaction. In addition, the withdrawals are limited to six per month. If these conditions are not met, you may be charged a fee as disclosed in the Fee Schedule. For Share Draft accounts, no limitations apply.

Share Certificate Accounts

Except as specifically described, the following disclosures apply to all of the accounts.

1. Rate Information. The Annual Percentage Yield is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. For all accounts, the Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the initial term of the account. For accounts subject to dividend compounding, the Annual Percentage Yield is based on an assumption that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings. For all Certificate accounts, dividends may be paid directly to you or transferred to another account; dividends cannot be added to the account.
2. Dividend Period. For each account the dividend period is the account’s term. The dividend period begins on the first day of the term and ends on the maturity date.
3. Dividend Compounding and Crediting. The compound and crediting frequency of dividends are stated in the Rate Schedule.
4. Balance Information. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. To open any account you must deposit or already have on deposit at least the par value of one full share in a Share account. The par value amount is stated in the Fee Schedule. Some accounts may have additional minimum opening deposits requirements. For all accounts, dividends are calculated by the Daily Balance method, which applies a periodic rate to the balance in the account each day.
5. Accrual of Dividends. For all accounts, dividends will begin to accrue on non-cash deposits (e.g. checks) on the business day you make the deposit to your account.
6. Transaction Limitations. For all accounts, after your account is opened you may make withdrawals subject to the early withdrawal penalties stated below. For Super Saver Term Share Certificate accounts, additional deposits may be made to the account with no limit imposed. However, no additions may be made during the last seven (7) days before maturity.
7. Maturity. Your account will mature as stated on this Rate and Fee Schedule or on your Account Receipt or Renewal Notice.

Early Withdrawal Penalty. We may impose a penalty if you withdraw from your account before the maturity date.
Amount of Penalty. For $1,000 Term Share Certificate, $10,000 Term Share Certificate, Super Saver Term Share Certificate and IRA Term Share Certificate accounts, the amount of the early withdrawal penalty is based on the term of your account. The penalty schedule is as follows:

Terms of 2 years or less 90 days dividends
Terms of more than 2years 180 days dividends

How the penalty works. The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned on the account. It applies whether or not the dividends have been earned. In other words, if the account has not yet earned enough dividends or if the dividend has already been paid, the penalty will be deducted from the principal.

Exceptions to Early Withdrawal Penalties. At our options, we may pay the account before the maturity date without imposing an early withdrawal penalty under the following circumstances:

1. When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction
2. Where the account is an IRA (Individual Retirement Account) and any portion is paid within seven (7) days after the establishment: or where the account is a Keogh Plan (Keogh) provided that the depositor forfeits an amount of at least equal to the simple dividends earned in the amount withdrawn: or where the account is an IRA or Keogh and the owner attains age 59 ½ or becomes disabled.

Renewal Policy. The renewal policy for your accounts is stated in the Rate Schedule. For all accounts, your account will automatically renew for another term upon maturity. You have a grace period of 10 calendar days after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty,

Nontransferable/Nonnegotiable. Your account is nontransferable and nonnegotiable.