The rates appearing in this Schedule are accurate as of DATE. The Credit Union may offer other rates for these accounts from time to time. 

RATE SCHEDULE
Rate = Dividend Rate;  APY = Annual Percentage Yield
Account Type Rate/APY MVP-Only
Rate/APY
Term Minimum Opening Deposit & Balance to Earn Dividend Dividends
Compounded
Dividends
Credited
Dividend
Period
Additional Deposits Renewal
3 Month     Fixed    Monthly  Monthly Account Term   Not Allowed Automatic
6 Month     Fixed    Monthly  Monthly Account Term  Not Allowed  Automatic
12 Month     Fixed    Monthly  Monthly Account Term  Not Allowed  Automatic
18 Month     Fixed    Monthly  Monthly Account Term  Not Allowed  Automatic
24 Month     Fixed    Monthly  Monthly Account Term Allowed Only
for 18 & older;
non-IRA 
Automatic
30 Month
Youth Only
    Fixed    Monthly  Monthly Account Term Allowed  Automatic
36 Month     Fixed    Monthly  Monthly Account Term  Not Allowed  Automatic
42 Month Add-On
IRA Only
    Fixed    Monthly  Monthly Account Term  Allowed Automatic
48 Month     Fixed    Monthly Monthly Account Term   Not Allowed Automatic
54 Month     Fixed    Monthly Monthly Account Term  Not Allowed  Automatic
60 Month     Fixed   Monthly Monthly Account
Term
Not Allowed Automatic
84 Month Raise Up
(if available)
    Fixed first 5 years,
then variable
Member's Discretion
   Monthly Monthly Account Term  Not Allowed  Automatic
Account Disclosure

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 Certificate, 24 Month Certificate, Youth Certificate, and IRA Certificate accounts, the dividend rate and annual percentage yield are fixed and will be in effect for the initial term of the account. During the term of your Raise-Up Certificate account, you may increase the rate one time to the rate currently in effect for accounts of this type with the same term. During the first 60 calendar days of opening of your Special Certificate or Special IRA Certificate account, you may increase the rate an unlimited number of times. After the first 60 calendar days, the rate will remain the same as the rate on the 60th calendar day. For accounts subject to dividend compounding, the annual percentage yield is based on an assumption that dividends will remain on deposit until maturity. A withdrawal of dividends will reduce earnings. 
  2. Dividend Period. For each account the dividend period is the account’s term. The dividend period begins on the first day of the term and ends on the maturity date.
  3. Dividend Compounding and Crediting. The compounding and crediting frequency of dividends are stated in the Rate Schedule.
  4. Balance Information. To open any account, you must deposit or already have on deposit the minimum required share(s) in a Share Saving account. 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 all accounts, dividends are calculated by the daily balance method which applies a daily periodic rate to the principal in the account each day.
  5. 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 your account.
  6. Transaction Limitations. For all accounts, your ability to make deposits to your account and any limitations on such transactions are stated in the Rate Schedule. For all accounts, after your account is opened, you may make withdrawals subject to the early withdrawal penalties stated below. 
  7. Maturity. Your account will mature as stated on this Truth-in-Savings Disclosure or on your Account Receipt or Renewal Notice.
  8. Early Withdrawal Penalty. We may impose a penalty if you withdraw from your account before the maturity date.
    a. Amount of Penalty. For all accounts, the amount of the early withdrawal penalty is based on the term of your account. The penalty schedule is as follows: Terms of 12 months or less = 90 days' dividends; Terms of 13-36 months = 180 days' dividends; Terms of 36-60 months = 360 days' dividends; Terms of 60-months or greater = 540 days' dividends.
    b. How the Penalty Works. The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned on the account. It applies whether or not the dividends have been earned. In other words, if the account has not yet earned enough dividends or if the dividends have already been paid, the penalty will be deducted from the principal.
    c. Exceptions to Early Withdrawal Penalties. At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances: 
    (i)     When an account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction.
    (ii)    Where the account is an Individual Retirement Account (IRA) and any portion is paid within seven (7) days after the establishment of the account; or where the account is a Keogh Plan (Keogh), provided that the depositor forfeits an amount at least equal to the simple dividends earned in the amount withdrawn; or where the account is an IRA or Keogh and the owner attains age 59 1/2 or becomes disabled.
  9. Renewal Policy. The renewal policy for your accounts is stated in the Rate Schedule. For accounts that automatically renew for another term, you have a grace period of seven (7) days after maturity in which to withdraw funds in the account without being charged an early withdrawal penalty. For accounts that do not automatically renew for another term, the account balance will be transferred to another account of yours upon maturity. You will not be paid dividends on the account after the maturity date. For Raise-Up Certificate and Special Certificate accounts, your account will automatically renew to a Certificate account with the same term (ex: 84 Month Raise-Up will renew as an 84 Month Certificate). For Special IRA Certificate accounts, your account will automatically renew to an IRA Certificate account with the same term.
  10. Nontransferable/Nonnegotiable. Your account is nontransferable and nonnegotiable.
  11. Membership. As a condition of membership, you must purchase and maintain the minimum required share(s) as set forth below. 
    Par Value of One Share $5.00 
    Number of Shares Required 1