Truth In Savings Statement

Except as specifically described, the following disclosures apply to all of the accounts. All accounts described in this Rate and Fee Schedule are share 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. The Dividend Rates and Annual Percentage Yield for all account types may change monthly as determined by the Credit Union's Board of Directors. The Dividend Rates and Annual Percentage Yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period.
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. Dividend Compounding and Crediting. The compounding and crediting of dividends and the dividend period for all share accounts is monthly. 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 non-cash deposits (e.g. checks) on the business day you make the deposit to your account.
5. Balance Information. The minimum balance requirements applicable to each account are set forth in the Rate Schedule. For Money Market accounts, there is a minimum daily balance required to avoid a service fee for the dividend period. If the minimum daily balance is not met, there will be a service fee as set forth on the reverse side. For all accounts, there is a minimum daily balance required to obtain the Annual Percentage Yield for the dividend period. If the minimum daily balance is not met, you will not earn the stated Annual Percentage Yield. The credit union uses the Daily Balance method to calculate dividends for all share account types. The Daily Balance method calculates dividends by applying a daily periodic rate to the principal in the account each day.
6. Account Limitations. For a Holiday Club account, the entire balance will be paid to you by check or transferred to another account of yours on or after October 1 and the account will remain open. For Money Market Accounts, no more than three (3) withdrawals or transfers may be made from these accounts in any month. If you exceed these limitations, your account may be subject to a fee or be closed. For Regular Share, Individual Retirement and Share Draft accounts, no account limitations apply.