Secondary Savings Account Disclosure

Terms and Conditions

Rate information
The dividend rate for this account is determined at the discretion of the board of directors. The dividend rate and annual percentage yield may change at any time.

Nature of dividends
Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.

Compounding frequency
Dividends will be compounded monthly.

Crediting frequency
Dividends will be credited into this account monthly.

Dividend period
For this account type, the dividend period is monthly. 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 January 31. All other dividend periods follow this same pattern of dates. The dividend declaration date is the same as the ending date of a dividend period, and for the example above is January 31.

Effect of closing an account
If you close your account before dividends are paid, you will not receive the accrued dividends.

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) into your account.

Minimum balance to obtain the disclosed annual percentage yield
You must maintain a minimum daily balance of $50.00 in your account each day to obtain the disclosed annual percentage yield.

Addition limitations
You may make an unlimited number of additions into your account.

Limitations on frequency of transfers
During any monthly statement cycle, you may not make more than six withdrawals or transfers to another account of yours or to a third party by means of a preauthorized, automatic or computer transfer or telephone order or instruction. No more than three of the six transfers may be made by check, draft, debit card (if 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 financial institution.

Par value of a share
The par value of a share is $5.00.

Bylaw requirements
You must complete payment of one share(s) into your savings account(s) as a condition of admission to membership. If you do not complete payment of at least one share(s) into your savings account(s) within ninety days of admission to membership, then you may be terminated from membership at the end of the dividend period in which the time elapses. If the balance in your savings account(s) falls below the par value of one share and you do not increase the balance to at least that amount within 90 days of the reduction, you may be terminated from membership immediately. If the balance in your share savings account falls below $5.00, you will be considered an inactive member and will not be eligible for member services as long as the balance remains below $5.00. If the balance in your share savings account falls below $5.00, you may be terminated from membership within 90 days. No member may withdraw shareholdings that are pledged as required on security on loans without the written approval of the credit committee or a loan officer, except to the extent that such shares exceed the member’s total primary and contingent liability to the Credit Union. No member may withdraw any shareholding below the amount of his or her primary or contingent liability to the Credit Union if he/she is delinquent as a borrower, or if borrowers for whom he/she is comaker, endorser, or guarantor are delinquent, without the written approval of the credit committee or loan officer.

National Credit Union Share Insurance Fund
This credit union is federally insured by the National Credit Union Administration.