Account Agreement

Truth-in-Savings Account Disclosures

Except as specifically described, the following disclosures apply to all of the 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 Savings, Share IRA, Roth IRA, Education IRA, Christmas Club, Youth/Senior and Small Change accounts, the dividend rate and annual percentage yield may change quarterly as determined by the Credit Union's Board of Directors.  For Money Market, Share Checking and Small Business Checking accounts, the dividend rate and annual percentage yield may change monthly as determined by the Credit Union's Board of Directors.  The dividend rates and annual percentage yields are the rates and yields as of the last dividend declaration date set forth in the Rate Schedule.  The Share Savings, Share IRA, Roth IRA, Education IRA, Christmas Club, Youth/Senior and Small Change, Share Checking and Small Business Checking accounts are tiered rate accounts.  The balance ranges, dividend rates and annual percentage yields applicable to each tier are disclosed in the Rate Schedule.  Once a particular balance range is met, the dividend rate and annual percentage yield for that balance range will apply to the full balance of your account.
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 an crediting of dividends and the dividend period applicable to each account are set forth in the Rate Schedule and/or links provided to each of the account types from 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, accrued dividends will not be paid.  However, for Christmas Club accounts, any accrued dividends will not be paid if you close the account within seven (7) days of the date you opened 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 on the Fee Schedule.  Some accounts may have additional minimum opening deposit requirements.  The minimum balance requirements applicable to each account are set forth in the Rate Schedule.  For Share Savings, Share IRA, Roth IRA, Education IRA, Money Market, Christmas Club, Youth/Senior, Small Change, Share Checking and Small Business Checking accounts, there is a minimum average daily balance required to obtain the annual percentage yield for the dividend period.  If the minimum average daily balance is not met, you will not earn the stated annual percentage yield.  For all accounts using the average daily balance method, dividends are calculated by applying a periodic rate the the average daily balance in the account for the period.  The average daily balance is determined by adding the full amount of principal in the account for each day of the period and dividing that figure by the number of days in the period.
6. Account Limitations.  For Share Savings, Share IRA, Roth IRA, Education IRA, Money Market, Christmas Club, Youth/Senior, and Make Way accounts, six permissible monthly transfers or withdrawals from share accounts by check, draft, debit card or similar order payable to third parties. If you exceed these limitations, your account may be subject to a fee or be closed. For Christmas Club accounts, the entire balance will be paid to you by check on or after November 1 and the account will remain open. If you wish to access the funds in your account at any other time, you may close it. For Share Checking and Small Business Checking accounts, no limitations apply.
7. Fees For Overdrawing Accounts.  Fees may be imposed on each check, draft, item, ATM card withdrawal, debit card point of purchase, preauthorized automatic debit, telephone initiated withdrawal or any other electronic withdrawal or transfer transaction that is drawn on an insufficient available account balance.  The entire balance in your account may be available for withdrawal, transfer or paying a check, draft or item.  You may consult the Funds Availability Policy Disclosure for information regarding availability of funds in your account.  Fees for overdrawing your account may be imposed for each overdraft, regardless of whether we pay or return a draft, item or transaction.  If we have approved overdraft protection limit on your account, such fees may reduce your approved limit.  Please refer to the Fee Schedule for current fee information.