Disclosures and Fee Schedule

Share Accounts

Rate Information
The Dividend Rate and Annual Percentage Yield on your accounts are set forth on this page. The Annual Percentage Yield 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 Rate and Annual Percentage Yield may change monthly as determined by the Credit Union Board of Directors.

Nature of Dividends
The Credit Union Board of Directors declares dividends based on the Credit Union’s current income and available earnings after providing for the required reserves. The Dividend Rate and Annual Percentage Yield set forth on this page reflect the earnings the Credit Union anticipates having available for distribution. The Dividend Rate and Annual Percentage Yield are NOT guaranteed.

Compounding and Crediting
Daily balance used to determine dividends. Dividends will be compounded and credited as set forth on this page. The dividend period begins on the first day of the dividend period and ends on the last day of the calendar dividend period set forth on this page. For Holiday Club accounts dividends are not compounded, and are credited annually on September 30th.

Accrual of Dividends
Dividends will begin to accrue on the business day you deposit cash and non-cash items to your account. If you close your account prior to the dividend period you will not receive accrued dividends.

Balance Information

The minimum balances required to open each account and to obtain the stated annual percentage yield are set forth on this page. If your account balance falls below the minimum balance on any day, you will not earn dividends that day. Dividends are calculated by the daily balance method, which applies a daily periodic rate to the principal in the account each day. For Money Market accounts if balance drops below $2,500, the share savings rate will be paid. Account balances that remain below $2,500 for three (3) consecutive months will be transferred to share savings. For IRA accounts there is a $20 annual fee for IRA aggregate balances less than $1000 posted on April 16th.

Transaction Limitations and Requirements
Money Market accounts are limited to a maximum of three (3) withdrawals per month. The minimum deposit or withdrawal per transaction is $100.00.

Holiday Club has a maximum balance of $5,000. Closure of a Holiday Club prior to maturity will result in forfeiture of all accrued dividends.

The Add On option is only for Adventure, Discovery, and Explorer accounts who open a Youth Saver certificate. The maximum amount for deposit with a Youth Saver certificate is $2,500.

Fixed Term & IRA Certificates

Rate Information

The Dividend Rates and Annual Percentage Yields on your accounts are set forth in the rate schedules. The Annual Percentage Yield 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 Yields are fixed and will be in effect for the term of the Account. The Annual Percentage Yield is based on the assumption that dividends will remain on deposit until maturity.

Early Withdrawal Penalty

We may impose a penalty if you withdraw any of the principal before the maturity date. Amount of penalty: The amount of the early withdrawal penalty is 180 days’ dividends. How the penalty works: The penalty is calculated as a forfeiture of the lesser of 1) 180 days’ dividends, or 2) the dividends that have been earned on the amount withdrawn since the date of issuance. Exceptions to Early Withdrawal Penalties: At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances; When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction; Where the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) days after establishment, or where the account is an IRA and the owner attains age 59 1/2 or becomes disabled.

Compounding and Crediting

Daily balance used to determine dividends. Dividends will be compounded and credit quarterly. The dividend period begins and is effective the day of account opening.

This Rate Schedule sets forth certain conditions and rates applicable to your share accounts at the Credit Union at this time. The Credit Union may offer other rates or amend the rates contained in this schedule from time to time. Each account holder agrees to the terms set forth on the Rate and Terms Schedule and acknowledges that it is a part of the Membership and Account Agreement.