| TRUTH-IN-SAVINGS DISCLOSURE |
Rate Information:
The dividend rate and annual percentage yield may change at
any time, as determined by the credit union board of directors.
Compounding and crediting -
Dividends will be compounded every quarter. Dividends will be credited to your account
every quarter.
Dividend period - For this account
type, the dividend period is quarterly, for example. the beginning date of the first
dividend period of the calendar year is January 1, and the ending date of such dividend
period is March 31. All other dividend periods follow this same pattern of dates. The
dividend declaration date is the last day of the dividend period, and for the example
above is March 31.
If you close your share account before dividends are
paid, you will not receive the accrued dividends.
Minimum balance requirements:
The minimum balance required to open this account is $25.00.
You must maintain a minimum daily balance of $25.00
in your account to avoid a below balance fee. If, during any monthly statement cycle, your
account balance falls below the required minimum daily balance, your account will be
subject to a below balance fee of $5.00 for that monthly statement cycle.
You must maintain a minimum daily balance of $300.00
in your account each day to obtain the disclosed annual percentage yield.
Daily balance computation method -
Dividends are calculated by the daily balance method which applies a daily periodic rate
to the balance in the account each day.
Accrual of dividends on noncash deposits -
Dividends will begin to accrue on the business day you place noncash items (for example,
checks) to your account.
Transaction limitations:
During any statement period, you may not make more than six withdrawals or transfers to
another credit union account of yours or to a third party by means of a preauthorized or
automatic transfer or telephonic order or instruction. No more than three of the six
transfers may be made by check, draft, debit card (it applicable), or similar order to a
third party. If you exceed the transfer limitations set forth above in any statement
period, your account will be subject to closure by the credit union.
Par value of a share:
The par value of a share in this account is $5.00.
Minimum balance requirements:
No minimum balance requirements apply to this account.
Transaction limitations:
No transaction limitations apply to this account unless otherwise
stated in the Common Features section.
Rate Information:
The dividend rate and annual percentage yield may change at
any time, as determined by the credit union board of directors.
Compounding and crediting - Dividends will be
compounded every quarter. Dividends will he credited to your account every quarter.
Dividend period - For this account type, the
dividend period is quarterly, for example, the beginning date of the first dividend period
of the calendar year is January 1, and the ending date of such dividend period is March 31
All other dividend periods follow this same pattern of dates. The dividend declaration
date is the last day of the dividend period, and for the example above is March 31.
If you close your share account before dividends are paid, you will
not receive the accrued dividends.
Minimum balance requirements:
You must maintain a minimum daily balance of $300.00 in your account
each day to obtain the disclosed annual percentage yield.
Daily balance computation method - Dividends are
calculated by the daily balance method which applies a daily periodic rate to the balance
in the account each day.
Accrual of dividends on noncash deposits -
Dividends will begin to accrue on the business day you place noncash items (for example,
checks) to your account.
Transaction limitations:
You may not make any withdrawals or transfers to another credit
union account of yours or to a third party by means of a preauthorized or automatic
transfer, telephonic order or instruction, or similar order to a third party.
If any withdrawal is made from this account before the end of the
club term, then this account may be closed.
Rate Information:
The dividend rate and annual percentage yield
may change at any time, as determined by the credit union board of directors.
Compounding and crediting -
Dividends will be compounded every quarter. Dividends will be credited to your account
every quarter.
Dividend period - For this account
type. the dividend period is quarterly, for example. the beginning date of the first
dividend period of the calendar year is January 1, and the ending date of such dividend
period is March 31. All other dividend periods follow this same pattern of dates. The
dividend declaration date is the last day of the dividend period, and for the example
above is March 31.
If you close your share account
before dividends are paid, you will not receive the accrued dividends.
Minimum balance requirements:
No minimum balance requirements apply to this account.
Deity balance computation method - Dividends are calculated by the daily balance method
which applies a daily periodic rate to the balance in the account each day.
Accrual of dividends on noncash deposits - Dividends will begin to accrue on the
business day you place noncash items (for example, checks) to your account.
Transaction limitations:
You may not make any withdrawals or transfers to another credit union account of yours
or to a third party by means of a preauthorized or automatic transfer, telephonic order or
instruction, or similar order to a third party.
_____________________ IRA CERTIFICATE OF DEPOSIT
Rate Information - The dividend rate on your term share account is ______% with an
annual percentage yield of _________%. You will be paid this rate until first maturity.
Compounding frequency - Dividends will be compounded every quarter. Crediting
frequency- Dividends will be credited to your account every quarter.
Dividend period - For this account type. the dividend period is quarterly, for
example. the beginning date of the first dividend period of the calendar year is January
1, and the ending date of such dividend period is March 31. All other dividend periods
follow this same pattern of dates. The dividend declaration date is the last day of the
dividend period, and for the example above is March 31.
Minimum balance requirements:
The minimum balance required to open this account is $5,000.00.
You must maintain a minimum daily balance of $5,000.00 in your account each day to
obtain the disclosed annual percentage yield.
Daily balance computation method - Dividends are calculated by the daily balance
method which applies a daily periodic rate to the balance in the account each day.
Accrual of dividends on noncash deposits - Dividends will begin to accrue on the
business day you place noncash items (for example, checks) to your account.
Transaction limitations:
After the account is opened, you may not make additions into the account until the
maturity date stated on the account.
You may make withdrawals of principal from your account before
maturity. Principal withdrawn before maturity is included in the amount subject to early
withdrawal penalty.
You cannot withdraw dividends from your account before maturity.
Time requirements - Your account will mature
__________
Early withdrawal penalties (a penalty will be imposed
tor withdrawals before maturity)
The penalty will equal three months dividends on the amount withdrawn
subject to penalty.
There are certain circumstances, such as the death or incompetence of
an owner, where we may waive or reduce this penalty. See your plan disclosure if this
account is pad of an IRA or other fax qualified plan.
Non-automatically renewable account - This account
will not automatically renew at maturity, If you do not renew the account, your deposit
will be placed in a dividend-bearing account.
______________CERTIFICATE OF DEPOSIT
Rate Information - The dividend rate on your term
share account is ______% with a annual percentage yield of ________%. You will be paid
this rate until first maturity.
Compounding frequency - Unless otherwise paid,
dividends will be compounded every quarter.
Crediting frequency - Dividends will be credited to
your account every quarter. Alternatively, you may choose to have dividends paid to you or
to another account every quarter rather than credited to this account.
Dividend period - For this account type, the dividend
period is quarterly, for example, the beginning date of the first dividend period of the
calendar year is January t, and the ending date of such dividend period is March 31. All
other dividend periods follow this same pattern of dates. The dividend declaration date is
the last day of the dividend period, and for the example above is March
Minimum balance requirements:
The minimum balance required to open this account is $5,000.00.
You must maintain a minimum daily balance of $5,000 00 in your account
each day 10 obtain the disclosed annual percentage yield.
Daily balance computation method - Dividends are
calculated by the daily balance method which applies a daily periodic rate to the balance
in the account each day.
Accrual of dividends on noncash deposits - Dividends
will begin to accrue on the business day you place noncash items (for example, checks) to
your account.
Transaction limitations:
After the account is opened, you may not make additions into the account until the
maturity date stated on the account.
You may make withdrawals of principal from your account before
maturity. Principal withdrawn before maturity is included in the amount subject to early
withdrawal penalty.
You can only withdraw dividends before maturity if you make
arrangements with us for periodic payments of dividends in lieu of crediting.
Time requirements - Your account will
mature_______________
Early withdrawal penalties (a penalty will be imposed
for withdrawals before maturity) -
The penalty will equal three months dividends on the amount withdrawn
subject to penally.
There are certain circumstances, such as the death or incompetence of
an owner, where we may waive or reduce this penalty. See your plan disclosure it this
account is part of an IRA or other tax qualified plan.
Withdrawal of dividends prior to maturity - The annual percentage
yield is based on an assumption that dividends will remain in the account until maturity.
A withdrawal will reduce earnings.
Non-automatically renewable account - This account will not
automatically renew at maturity. If you do not renew the account, your deposit will be
placed in a dividend-bearing account.
COMMON FEATURES
By law requirements:
You must complete payment of $25.00 plus $5.00 membership fee in your Share Savings
account as a condition of admission to membership.
Transaction limitation - We reserve the right to at any lime require
not less than 30 days notice in writing before each withdrawal from an interest-bearing
account other than a time deposit, or from any other savings account as defined by
Regulation D.
Nature of dividends - Dividends are paid from current income and
available earnings, after required transfers to reserves at the end of a dividend period.
(This disclosure further explains the dividend feature of your non-term share account(s).)
National Credit Union Share Insurance Fund - Member accounts in this
credit union are federally insured by the National Credit Union Share Insurance Fund. The
following fees may be assessed against your account and the following transaction
limitations, if any, apply to your account.
Membership application lee$5.00
Draft printing(fee depends on style of draft ordered)
Cashier*s check $3.00
Deposited checks )and other items) returned unpaid $20.00
Nonsufficient funds item (each) $20.00
Account activity printout $3.00
Stop payments (all items) $10.00
ACH change notice $5.00
Copy of draft $2.00
Reopen closed account $1 5.00
Credit Bureau report $3.00
YOUR ACCOUNT
These are the accounts you have opened or inquired about. Further details about these
accounts are inside this page. If the figures are not filled in, please see the insert
that is with this disclosure or your periodic statement.
SHARE SAVINGS ACCOUNT
Last declared dividend rate:
Tier 1 - As of the last dividend declaration date, if your daily
balance was $15,000.00 or more, the dividend rate paid on the entire balance in your
account was _________%, with an annual percentage yield of ________%.
Tier 2 - As of the last dividend declaration date, if your daily
balance was more than $7,999.99, but less than $15,000.00, the dividend rate paid on the
entire balance in your account was ________%, with an annual percentage yield
of____________%.
Tier 3 - As of the last dividend declaration date, d your daily
balance was more than $4,999.99, but less than $8,000.00, the dividend rate paid on the
entire balance in your account was _________%, with an annual percentage yield
of..________ %
Tier 4 - As of the
last dividend declaration date, if your daily balance was more than $1 .999.99, but less
than $5,000.00. the dividend rate paid on the entire balance in your account was
________%, with an annual percentage yield of _________ %
Tier 5 - As of the last dividend declaration date, if your daily
balance was more than $299.99, but less than $2,000.00, the dividend rate paid on the
entire balance in your account was _________. %, with an annual percentage yield
of_________%. |
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