Truth-in-Savings Disclosure

The following disclosure applies to all of the accounts. All things described in this Truth and Savings Disclosure are for share accounts.

1. Rate information
   The annual percentage yield is a percentage rate that reflects the total amount of dividend 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 Yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period. Your Regular Savings account is a Tiered Rate account. If your balance in the account is at the 1st tier the Dividend Rate and Annual Percentage Yield for the 1st tier will apply to the entire balance. If your balance in the account is in the 2nd tier the Dividend Rate and Annual Percentage Yield for will apply to the entire balance in your account. This application of interest payment continues through all tiers.
   
   
2. Nature of Dividends
   Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend periods.
   
   
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 all accounts, dividends will begin to accrue on non-cash deposits (e.g. checks) on the business day you make the deposit to you account. For all accounts, if you close your account before accrued dividends are credited, accrued dividends will not be paid.
   
   
5. Balance Information
   The minimum balance requirements applicable to each account are set forth in the Rate Schedule. For all accounts there is a minimum daily balance required to receive dividends. If the minimum daily balance is not maintained, the stated Annual Percentage Yield on the account will not be earned. For all accounts the dividends are calculated by applying a daily periodic rate to the principal in the account.

Feel free to contact us if you have any questions about this policy.