Truth-in-Savings Disclosure

The rates, fees, and terms applicable to your account at the Credit Union are provided in this Truth-in-Savings Disclosure.  The Credit Union may offer other rates for these accounts from time to time.

Truth-in-Savings account 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 all accounts, the Dividend Rate and Annual Percentage Yield may change at any time 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. The Savings account is a Tiered Rate account. If your account balance is $9,999.99 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 $10,000.00 or more, 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 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. For a 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, accrued dividends will not be paid.

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 any 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 set forth in the Rate Schedule. For all accounts, there is a minimum average daily balance required to avoid a service fee for the dividend period. If the minimum average daily balance is not met, there will be a service fee as set forth on the reverse side. For all 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 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 Savings accounts, no more than six (6) preauthorized, automatic, or telephone transfers may be made from these accounts to another account of yours or to a third party in any month, and no more than three (3) of these six (6) transfers may be made by check, draft, or debit card to a third party. If you exceed these limitations, your account may be subject to a fee or be closed. This credit union will allow electronic check transactions to post to your share draft account. For IRA Savings and Checking accounts, no account limitations apply.

7. Fees for Overdrawing Accounts.  Fees may be imposed on each check, draft, item, ATM card withdrawal, debit card point of purchase, preauthorized automatic debit, telephone initiated withdrawal, or any other electronic withdrawal or transfer transaction that is drawn on an insufficient available account balance.  The entire balance in your account may not be available for withdrawal, transfer, or paying a check, draft, or item.  You may consult the Funds Availability Policy for information regarding the availability of funds in your account.  Fees for overdrawing your account may be imposed for each overdraft, regardless of whether we pay or return the draft, item, or transaction.  If we have approved an overdraft protection limit for your account, such fees may reduce your approved limit.  Please refer to the Fee Schedule for current fee information.

FEE SCHEDULE
CHECKING SERVICE FEES
June  1, 2012

The rates and fees appearing in this Schedule are accurate and affective for accounts as of the Effective Date indicated on this Truth-in-Savings Disclosure.  If you have any questions or require current rate and fee information on your accounts, please call the Credit Union.

© CUNA Mutual Group, 1993, 2000

SD22508.3  12/29/04  D3000-FK1