Share Disclosure

Truth-In-Savings Disclosure

Except as specifically described, the following disclosures apply to all of the accounts. All accounts described in this Truth-In-Savings Disclosure 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.For Savings, Christmas Club, Vacation Club, Money Management, Individual Retirement and Checking accounts, the Dividend Rate and Annual Percentage Yield may change quarterly as determined by the Credit Union's Board of Directors.For Money Market accounts, the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union's Board of Directors.The Dividend Rates and Annual Percentage Yields are the rates and yields as of the last dividend declaration date, which is set forth in the Rate Schedule.

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 frequency of dividends and dividend periods 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 non-cash 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 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 Savings 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 Savings, Christmas Club, Vacation Club, Money Management, Checking, and Money Market 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 stated Annual Percentage Yield.For Money Market accounts, this minimum Daily Balance must also be maintained to avoid account closure.For accounts using the 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 Savings, Vacation Club, Money Management, and Money Market accounts, no more than six (6) preauthorized, automatic, or telephone transfers may be made from each account to another 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 to a third party. If you exceed these limitations, your account may be subject to a fee or be closed. For Christmas Club accounts, the entire balance will be transferred to your savings account on or after October 31st and the account will remain open. If you withdraw any of the account balance at any time, you will forfeit all accrued, uncredited dividends on the account and your account will be closed.However, no fee will be charged if the withdrawal occurs within seven (7) days of the date the account is opened. For Money Management accounts, the minimum amount you may deposit or withdraw is $5,000.00 per transaction; however, you may withdraw credited dividends without limitation. For Money Market accounts, the minimum deposit or withdrawal amount is $250.00 per transaction. For Checking accounts, no account limitations apply.

7. For Individual Retirement Accounts. There are many tax rules regulating the movement of money out of an IRA. See the IRA Disclosure Statement for a more detailed discussion of these rules.

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