|Type of Savings Accounts:||Current (APY) Ranges|
|6 Mo. Share Certificates||.50%|
|1 Yr. Share Certificates||1.00%|
|2 Yr. Share Certificates||1.25%|
|Christmas Savings Club||1.50%|
TRUTH-IN-SAVINGS ACCOUNT DISCLOSURES
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 Share accounts. The Dividend Rate and Annual Percentage Yield are fixed and will be in effect indefinitely. The Credit Union will notify you at least thirty (30) days in advance of any decrease. The Dividend Rates and Annual Percentage Yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period.
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.
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 a Share 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.
6. Your savings are federally insured to $250,000 by the National Credit Union Administration, a U.S. Government Agency.