Truth in Savings Account Disclosures

Except as specifically described, the following disclosures apply to all 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 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 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 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 period begins on the first calendar day of the period and ends on the last calendar day of the period.
   
   
4. Accrual of 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 and Fee Schedule. For Share (A) accounts, and Sub Share Accounts there is a minimum average daily balance required to obtain the Annual Percentage Yield for the dividend period. If the minimum average daily balance is not met, you will not earn the stated Annual Percentage Yield for the dividend period. There is no minimum balance required to earn dividends for the Christmas Club Share Accounts. For share (A) and Christmas Club accounts, using a 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 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 Christmas Club account the entire balance will be paid to you by check or transferred to another account of yours on or after October 1st and the account will remain open. For all accounts, no account limitations apply.