TRUTH-IN-SAVINGS DISCLOSURE

“Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.” 

Members’ accounts in this Credit Union are federally insured up to $ 100,000.00 by the National Credit Union Administration, a U.S. Government agency.

SHARE/ SAVINGS ACCOUNT

Dividends will be compounded and paid quarterly.

The dividend period, for this account type, is, for example, the beginning date of the first dividend period of the calendar year is, January 1, and the ending date of such a period is March 31. All the dividend periods follow the same pattern of dates. The dividend declaration date follows the ending date of the dividend period, and for this example is April 1.

If you close your account before dividends are paid, you will not receive the accrued dividends.

The Credit Union reserves the right to require a member intending to make a withdrawal from any account (except the share draft account) to give written notice of such intent not less than seven days and up to 60 days before such a withdrawal.

Dividends are calculated be the daily balance method which applies a daily periodic rate to the balance in the account each day.

The minimum required to open this account is the purchase of a $ 5.00 par value share in the credit union.

Dividends begin to accrue no later than the business day we receive provisional credit for the deposit of non-cash items (e.g., checks) to your account.

The dividend rate and annual percentage yield may change every period. We may change the dividend rate for your account as determined by the Credit Union’s Board of Directors.

SHARE DRAFT ACCOUNT

Dividends, if declared,  will be compounded and paid quarterly.

The dividend period, for this account type, is, for example, the beginning date of the first dividend period of the calendar year is, January 1, and the ending date of such a period is March 31. All the dividend periods follow the same pattern of dates. The dividend declaration date follows the ending date of the dividend period, and for this example is April 1.

If you close your account before dividends are paid, you will not receive the accrued dividends.

Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

There is no minimum daily balance required.

Dividends will begin to accrue no later than the business day we receive provisional credit for the deposit of non-cash items (e.g., checks) to your account.

TERM SHARE ACCOUNT

Interest will be paid quarterly.

The credit union reserves the right to require a member intending to make a withdrawal from any deposit account (except a draft account or upon maturity of a term account) to dive written notice of such intent not less than seven days and up to 30 days before such a withdrawal.

Additional deposits to this account, prior to maturity, are not allowed.

Interest is calculated by the daily balance method which apples a daily rate to the balance in the account each day.

The minimum balance required to open this account is $ 500.00.

Interest will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account.

Your account will mature based on the term choosen when purchasing the CD. It will automatically renew unless we are otherwisw notified.

No funds may be withdrawn from your account prior to maturity.

If any funds are withdrawn prior to maturity, it will result in the closing of the term share account. If your account is closed prior to maturity, you will receive interest on your account minus 60 days interest.

Your account will automatically renew at maturity. You will have a grace period of seven calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.

To earn the bonus, your entire principal must remain on deposit.

IRA ACCOUNT

Dividends will be compounded and paid quarterly.

The dividend period, for this account type, is, for example, the beginning date of the first dividend period of the calendar year is, January 1, and the ending date of such a period is March 31. All the dividend periods follow the same pattern of dates. The dividend declaration date follows the ending date of the dividend period, and for this example is April 1.

If you close your account before dividends are paid, you will not receive the accrued dividends.

The credit union reserves the right to require a member intending to make a withdrawal from any account (except a share draft account) to give written notice of such intent not less than seven days and up to 60 days before such a withdrawal.

Dividends are calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

No minimum balance requirements apply to the account.

Dividends will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account.

FEES AND CHARGES ( as of 5-01-06)

FEES APPLICABLE TO ALL ACCOUNTS (EXCEPT TERM ACCOUNTS) 

Return item fee	$ 20.00 per item
Account reconciliation fee	$ 20.00 per hour
Official checks (more than one)	$ 1.00
Money Order	$ 1.00
Deposit Rolled Coin	1 %
Account History-per page	$ 1.00
Fax-per page	$ 1.00
Garnishment/Tax Levy	$ 20.00
Inactive fee (no activity-after one year)	$ 1.00 per month
Esheatment	$ 10.00
Early account closing (within 6 months)	$ 5.00
Statement copies fees	$ 1.00 per statement
Wire Transfer Fee	$ 15.00 per transfer
ATM withdrawal/transfer fee (first 4 free)	$ 1.50 per transaction
ATM replacement card charge-lost/stolen	$ 10.00 per card
ACH return NSF fee	$ 20.00 per item
ATM overdrafts	$ 15.00 per transaction
Share Draft Account Fees:
Draft returned NSF	$ 20.00 per draft
Stop payment order fee	$ 20.00 per order
Draft copy fee	$ 5.00 per order
Draft printing fee	Varies by order/style