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.

Effective Date: 10/01/2003

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 Regular Savings and Share Draft/Checking accounts, the Dividend Rate and Annual Percentage Yield may change monthly as determined by the Credit Union’s Board of Directors.  For IRA Regular Savings and Christmas Savings 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 at any time as determined by the Credit Union’s Board of Directors.  The Dividend Rates and Annual Percentage Yields are the rates and yield 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 period 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 noncash 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 Savings 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 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 stated in the Rate Schedule.  For Regular Savings, Money Market and Share Draft/Checking accounts, there is a minimum Average Daily Balance required to earn the Annual Percentage Yield disclosed for the dividend period.  If the minimum average daily balance is not met, you will not earn the Annual Percentage Yield stated in the Rate Schedule.  For accounts using the Average Daily Balance method as state on the Rate Schedule, dividends are calculated by applying periodic rate to the Average Daily Balance in the account for the dividend period.  The Average Daily Balance is calculated by adding the balance the account for each day of the period and dividing that figure by the number of days in the period.

6. Account Limitations.  For Regular Savings accounts, no more than six (6) pre-authorized, 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) may be made by check, draft, or debit card to a third party.  In addition, only three (3) of the six (6) allowable transfers may be made from your Regular Savings account to your Share Draft/Checking account during any month.  If you exceed these limitations, your account may be subject to a fee or be closed.  For IRA Regular Savings accounts, you may not make any pre-authorized, automatic or telephone transfers from your account at any time.  For Regular Share Savings accounts, a maximum of three (3) transfers per month to your Share/Checking accounts will be allowed.  For Christmas Savings accounts, 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.  You may not make withdrawals from your Christmas Savings accounts at any other time.  If you wish to access the funds in your Christmas Savings accounts, you may close it.  If you close your Christmas Savings accounts, you will be charged a fee of all accrued, uncredited dividends.  However, no fee will be charged if the withdrawal occurs within seven (7) days of the date the account is opened.  For Money Market and Share Draft/Checking accounts, no account limitations apply.

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