Truth In Savings Disclosure

Except as specifically described, the following disclosures apply to all 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 Regular Share, Vacation Club, Christmas Club and IRA Share accounts, the Dividend rate and Annual Percentage Yield may change quarterly as determined by the Credit Union's Board of Directors. For Money Fund, Share Draft/Checking Account and Escrow Accounts, the Dividend Rate and Annual Percentage Yield may change at any time as determined by the Credit Union's Board of Directors. The Money Fund account is a Tiered Rate Account. If your account balance is $2,499.99 or below, the first Dividend Rate and Annual Percentage Yield listed for this account in the Rate Schedule will apply. If your account balance is greater than $2,499.99, the second Dividend Rate and Annual Percentage Yield listed for this account will apply. Once a particular balance range is met, the Dividend Rate and Annual Percentage Yield for that balance range will apply to the full balance of your account.
2. Nature of Dividends. Dividends are paid from current income and available earnings after required transfer to reserves at the end of the dividend period.
3. Dividend Compounding and Crediting. The compounding and crediting of dividends and dividend period applicable to each account are set forth in the Rate Schedule. The Dividend Period is the period of time at the end of which an account earns dividend credit. The Dividend Rates and Annual Percentage Yields are the rate and yields as of the last dividend declaration date which is set forth in the Rate Schedule.
4. Accrual of Dividends. For Regular Share, Vacation Club, Christmas Club, IRA Share, Money Fund, Share Draft/Checking, and Escrow Accounts, dividends will begin to accrue on noncash deposits (e.g. checks) on the business day you make the deposit to your account. For Regular Share, Vacation Club, Christmas Club, IRA Share, Money Fund, Share Draft/Checking and Escrow accounts, if you close your account before accrued dividends are credited, accrued dividends will not be paid.
5. Balance Information. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. For Regular Share, Vacation Club, Christmas Club, IRA Share, Money Fund, Share Draft/Checking, and Escrow Accounts, there is a minimum balance required to obtain the Annual Percentage Yield for the dividend period. If the minimum balance is not met, you will not earn the stated Annual Percentage Yield. For Regular Share, Vacation Club, Christmas Club, IRA Share, Money Fund, Share Draft/Checking, and Escrow Accounts using an Average Daily Balance method, dividends are calculated by applying a periodic rate to the average daily balance in the account for the period. The average daily balance is determined by adding the full amount of the principal in the account for each day of the period and dividing that figure by the number of days in the period.
6. Account Limitations. For a Holiday Account or Vacation Club account, you may be charged a withdrawal fee of $20.00 for each withdrawal from the account. The Holiday Account balance will be paid to you by transferring to another account of yours on or after the 1st Thursday of November and the account will remain open. You may make transfers or withdrawals in the first seven (7) days after the account is opened without restriction. For Vacation Club account, you can withdraw funds on or after the 1st Friday in April and October without penalty. For Regular Share and account, two (2) withdrawals per month are allowed after which a fee will be imposed. For Money Fund accounts, three (3) withdrawals per month are allowed after which a fee will be imposed. For Escrow accounts, withdrawals are allowed only to pay property taxes and homeowners insurance premiums. For Share Draft/Checking accounts, two (2) withdrawals per month are allowed via a Credit Union official check, after which a fee will be imposed. For IRA Share accounts, no account limitations apply.